Friday 6 November 2026 Export INSW’s income statement to Excel — free account

International Seaways Inc.

International Seaways Inc.’s revenue for fiscal 2025 (year ended December 2025) was $843.3 million, down 11.4% from fiscal 2024.

Revenue: +146.0%
EPS: +386.0%
Free cash flow: +324.0%
Total debt: −11.6%

Quarter to September 2026, against a year earlier

95.13 4.23 −4.26%

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Market cap: $4.8B
P/E: 4.5×
Fwd P/E: 4.1×
Dividend yield: 5.43%
F-score: 5/9
Altman Z: 3.36
Beneish M: −2.53
Dividend safety: 54/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

International Seaways Inc. (INSW) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
International Crude Tankers Segment	440	52.13%
International Product Carriers Segment	404	47.87%
Gross margin		61.69%
Operating margin		40.96%
Pre-tax margin		36.62%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014
International Crude Tankers Segment	440 52.13%	451 47.43%	524 48.89%	332 38.36%	156 57.34%	335 79.39%	285 77.93%	202 74.86%	192 66.33%	272 68.23%	325 65.25%	363 70.27%
International Product Carriers Segment	404 47.87%	500 52.57%	548 51.11%	533 61.64%	116 42.66%	87 20.61%	81 22.07%	68 25.14%	98 33.67%	127 31.77%	173 34.75%	154 29.72%
Other Operating	—	—	—	—	—	—	—	0 0.00%	—	—	—	0 0.00%
Revenue	843	952	1,072	865	273	422	366	270	290	398	498	517

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Aframax fixed average TCE rate	Q3 FY2026	$38,500.00	$38,665.00	−0.43%
Aframax (LR2) fixed average TCE rate	Q3 FY2026	$39,502.00	$39,500.00	+0.01%
Aframax (LR2) fixed revenue days	Q3 FY2026	87.00	—	—
Aframax number of revenue days	Q3 FY2026	367.00	350.00	+4.86%
Aframax spot average TCE rate	Q3 FY2026	$57,832.00	$28,457.00	+103.23%
Fixed revenue days	Q4 FY2025	1.2K	1.3K	−13.06%
MR fixed average TCE rate	Q1 FY2026	$22,037.00	$21,782.00	+1.17%
MR number of revenue days	Q1 FY2026	2.7K	3.4K	−19.24%
MR spot average TCE rate	Q1 FY2026	$37,224.00	$21,408.00	+73.88%
Panamax (LR1) number of revenue days	Q1 FY2026	507.00	719.00	−29.49%
Panamax (LR1) spot average TCE rate	Q1 FY2026	$70,664.00	$27,367.00	+158.21%
Spot revenue days	Q1 FY2026	4.6K	5.4K	−14.10%
Suezmax fixed average TCE rate	Q3 FY2026	$41,682.00	$34,316.00	+21.47%
Suezmax number of revenue days	Q3 FY2026	1.3K	1.2K	+12.97%
Suezmax spot average TCE rate	Q3 FY2026	$102,501.00	$33,310.00	+207.72%
Total crude tankers revenue days	Q3 FY2026	2.5K	—	—
Total product carriers revenue days	Q1 FY2026	3.3K	4.2K	−20.58%
VLCC fixed average TCE rate	Q3 FY2026	$315,258.00	$41,552.00	+658.71%
VLCC number of revenue days	Q3 FY2026	835.00	903.00	−7.53%
VLCC spot average TCE rate	Q3 FY2026	$154,597.00	$34,809.00	+344.13%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
Aframax fixed average TCE rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Aframax (LR2) fixed average TCE rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Aframax (LR2) fixed revenue days	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Aframax number of revenue days	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Aframax spot average TCE rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Fixed revenue days	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
MR fixed average TCE rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
MR number of revenue days	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
MR spot average TCE rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Panamax (LR1) number of revenue days	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Panamax (LR1) spot average TCE rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Spot revenue days	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Suezmax fixed average TCE rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Suezmax number of revenue days	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Suezmax spot average TCE rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total crude tankers revenue days	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total product carriers revenue days	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
VLCC fixed average TCE rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
VLCC number of revenue days	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
VLCC spot average TCE rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.