Scorpio Tankers Inc.
STNG Energy Oil & Gas Midstream
Scorpio Tankers Inc.’s revenue for fiscal 2025 (year ended December 2025) was $938.2 million, down 24.6% from fiscal 2024. In the quarter to June 2026, revenue grew 77.5%, EPS grew 432.7%, free cash flow grew 490.3% and total debt fell 14.9%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
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Scorpio Tankers Inc. (STNG) Altman Z-score
Scorpio Tankers Inc.'s Altman Z-score for fiscal 2025 is 3.33, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 3.33 | 0.32 |
| FY2024 | 3.01 | 0.79 |
| FY2023 | 2.22 | 0.34 |
| FY2022 | 1.88 | 1.91 |
| FY2021 | −0.03 | (0.37) |
| FY2020 | 0.34 | (0.09) |
| FY2019 | 0.44 | 0.23 |
| FY2018 | 0.21 | 0.02 |
| FY2017 | 0.19 | (0.74) |
| FY2015 | 0.93 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.25 | — | 0.30 | |
| Retained earnings / total assets | 0.37 | — | 0.51 | |
| EBIT / total assets | 0.09 | — | 0.30 | |
| Market value of equity / total liabilities | 3.29 | — | 1.98 | |
| Sales / total assets | 0.24 | — | 0.24 | |
| Altman Z-score | Safe zone | 3.33 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 8.13 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| TNK Teekay Tankers Ltd. compare | 7.4× |
| STNG Scorpio Tankers Inc. | 3.3× |
| DHT DHT Holdings, Inc. compare | 3.3× |
| BWLP BW LPG Limited compare | 2.8× |
| TRMD TORM PLC compare | 2.5× |
| GLNG Golar LNG Limited compare | 1.0× |
| EE Excelerate Energy, Inc. compare | 0.9× |
| CMBT CMB.TECH nv compare | 0.8× |
| SUNC SunocoCorp LLC compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets