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Tsakos Energy Navigation Ltd

TEN Energy Oil & Gas Midstream

Tsakos Energy Navigation Ltd’s revenue for fiscal 2025 (year ended December 2025) was $798.7 million, down 0.67% from fiscal 2024. In the quarter to June 2026, revenue grew 54.4%, EPS grew 556.7% and free cash flow grew 185.9%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

51.07 0.41 −0.80%
Market cap
$1.5B
P/E
5.2×
Fwd P/E
8.0×
Dividend yield
—
F-score
5/9
Altman Z
0.86
Beneish M
−2.24
Dividend safety
22/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 1.00
Total sells 1.10
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — 1 — — — — — —
Sell — — — — — — — — 1 1 1 1
Insider Ownership 30.00%

Capital & Financial Ratios $m

Market Cap 1,520.00
Revenue 959.70
Net Income 399.69
Free Cash Flow (266.02)
Net Debt 1,615.89
Current Ratio 1.40
Debt/Equity 1.02
P/E ratio 5.17
Fwd P/E 8.04
P/S ratio 1.60
P/B ratio 0.75
Past 5Y EPS Growth —
This Y EPS Growth 204.05% (at or above 15%: strong)
Next Y EPS Growth 4.98%
Next Y revenue growth 17.56% (at or above 10%: strong)
Next 5Y EPS Growth 37.43% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.3×, against a ten-year median of 2.9×; over the ten years it ranged from 1.6× in 2023 to 3.9× in 2017.
P/E against its own 10 years 57.34%
10-year low 10-year high
P/S against its own 10 years 99.59%
10-year low 10-year high
P/B against its own 10 years 99.59%
10-year low 10-year high
EV/Sales against its own 10 years 87.47%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2027 Powerpack
2026 Powerpack
2025 Powerpack
2024 Powerpack
2023 0.99
0.29
0.40
0.30
2022 0.25
0.10
0.15
2021 0.10
0.10
2020 0.12
0.38
0.12
2019 0.75
0.25
0.25
0.25
2018 1.75
0.25
0.25
0.25
0.25
0.25
0.25
0.25
2017 2.00
0.25
0.25
0.25
0.25
0.25
0.25
0.25
0.25
2016 1.45
0.40
0.40
0.40
0.25
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 377 349 335 486
Receivables 52 34 54 71
Inventory 23 19 13 22
Other 54 42 25 34
509 452 435 616
2023 2024 2025 Q'26
Payables 44 57 46 63
ST’ Debt 192 252 302 250
Other 32 37 19 12
323 409 458 440

Compound Annual Growth %

10y 5y 3y
Sales 3.11% 4.40% (2.45%)
Cash Flow 2.42% 7.70% 1.04%
Earnings (0.90%) 0.00% (7.70%)
Book Value 2.79% 6.16% 6.95%

Revenue $m

Mar Jun Sep Dec Year
’26 253 298 — — —
’25 197 193 186 222 799
’24 202 214 200 188 804
’23 261 221 187 220 890
’22 150 217 224 270 860
’21 139 136 132 139 546
’20 179 191 143 132 644
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 — 281 — — —
’25 — 116 — 298 298
’24 — 160 — 308 308
’23 — — — — 395
’22 — — — — 289
’21 — — — — 53
’20 — — — — 205
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 — 83 — — —
’25 — (110) — (125) (125)
’24 — (97) — (114) (114)
’23 115 37 47 (132) 263
’22 24 (144) 9 (302) (13)
’21 12 21 5 (8) 45
’20 57 16 46 15 111
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 2.72 4.40 — — —
’25 1.04 0.67 1.05 1.70 4.45
’24 1.60 2.36 0.67 0.42 5.03
’23 5.69 1.65 0.83 0.85 9.04
’22 (0.12) 1.31 1.48 3.17 6.01
’21 (0.80) (1.49) (1.72) (5.05) (9.53)
’20 0.58 1.07 (0.55) (2.10) (0.80)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 19.60 19.10 12.80 12.90 7.06 6.75 6.95 15.00 15.88 13.40

Analyst estimates 2026–2028

Powerpack
High 39.45 26.35 20.75 22.00 23.85 12.29 20.20 24.78 31.48 26.69
People
People Employees — — — — — — — — — —
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income, $m
Income, $m Revenue 482 529 530 597 644 546 860 890 804 799
Gross margin, % 47.50 45.66 40.01 46.97 46.27 26.50 49.68 57.81 54.12 56.59
EBT 56 9 (101) 14 27 (151) 208 305 182 165
EBT margin, % 11.73 1.74 (19.07) 2.34 4.23 (27.57) 24.23 34.30 22.59 20.65
Net income 56 9 (101) 14 27 (151) 208 305 182 165
Depreciation 115 143 151 144 141 146 143 144 150 155
Per share, $
Per share, $ Revenue 28.37 31.23 30.41 33.66 34.32 27.79 30.76 30.15 27.25 26.86
Earnings 2.35 (0.95) (7.65) (1.60) (0.80) (9.53) 6.02 9.04 5.03 4.45
Cash flow 10.03 10.08 4.24 10.38 10.94 2.70 10.32 13.40 10.43 10.01
Capex (33.92) (14.27) (0.01) (5.76) (5.04) (0.41) (10.79) (4.49) (14.29) (14.21)
Free cash flow (23.89) (4.19) 4.23 4.63 5.90 2.30 (0.47) 8.91 (3.86) (4.21)
Book value 83.47 89.01 86.49 82.94 73.62 65.74 54.45 56.01 59.89 62.65
Shares, m 17 17 17 18 19 20 28 30 30 30
Valuation, ×
Valuation, × P/E 3.95 7.68 0.00 0.00 0.00 0.00 2.70 2.50 3.43 5.03
P/S 0.79 0.67 0.44 0.65 0.23 0.26 0.51 0.75 0.64 0.83
P/B 0.30 0.23 0.16 0.27 0.11 0.11 0.29 0.41 0.29 0.36
EV/Sales 3.23 3.73 3.09 2.95 2.39 2.54 1.99 2.08 2.38 2.82
EV/FCF (13.70) (7.00) (24.64) 13.22 6.14 11.83 (44.45) 6.74 (8.62) (5.05)
Cash, $m
Cash, $m Operating cash flow 170 171 74 184 205 53 289 395 308 298
Capex (576) (242) 0 (102) (95) (8) (302) (132) (422) (423)
Free cash flow (406) (71) 74 82 111 45 (13) 263 (114) (125)
Balance, $m
Balance, $m Working capital (35) (35) 63 43 (61) (92) 143 186 43 (23)
Total debt 1,754 1,752 1,596 1,534 1,500 1,373 1,578 1,563 1,747 1,921
Net debt 1,556 1,549 1,375 1,337 1,329 1,246 1,268 1,186 1,398 1,586
Shareholders’ equity 1,417 1,508 1,507 1,472 1,382 1,292 1,523 1,653 1,767 1,863
Returns, %
Returns, % ROA 1.29 (0.49) (4.04) (0.88) (0.48) (6.23) 5.42 8.00 4.19 3.45
ROIC 1.89 1.48 0.82 2.52 2.89 (0.82) 5.74 9.20 5.50 4.57
ROE 2.83 (1.11) (8.91) (1.90) (1.07) (14.17) 12.09 16.94 8.73 7.34
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 2 Oct 2026

Charts ten years each

Tsakos Energy Navigation Ltd vs peers in Oil & Gas Midstream (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NGL NGL Energy Partners LP $1.9B — (loss-making) 18.6× +59.12% (above 0%: growing) +1,100.00% (above 0%: growing) −386.50% (below 0%: shrinking) 30.87% 14.68% Compare
GEL Genesis Energy, L.P. $1.7B 74.9× 261× +40.98% (above 0%: growing) n/m +2,417.50% (above 0%: growing) 32.06% 19.82% Compare
GLP Global Partners LP $1.7B 10.1× 10.4× +46.79% (above 0%: growing) +240.00% (above 0%: growing) +36.41% (above 0%: growing) 4.84% 1.58% Compare
NAT Nordic American Tankers Limited $1.7B 13.0× 8.6× +133.96% (above 0%: growing) n/m +197.49% (above 0%: growing) 83.25% 82.06% Compare
PBT Permian Basin Royalty Trust $1.6B 94.7× 21.9× +34.59% (above 0%: growing) +60.00% (above 0%: growing) — 100.00% 92.68% Compare
TEN Tsakos Energy Navigation Ltd $1.5B 5.2× 8.0× +54.37% (above 0%: growing) +556.72% (above 0%: growing) +185.92% (above 0%: growing) 62.31% 54.53%
FLNG Flex LNG Ltd. $1.5B 14.8× 14.3× +24.21% (above 0%: growing) +151.52% (above 0%: growing) +185.57% (above 0%: growing) 76.00% 55.68% Compare
NVGS Navigator Holdings Ltd. $1.3B 9.7× 7.8× +29.55% (above 0%: growing) +177.42% (above 0%: growing) +9.98% (above 0%: growing) 55.10% 28.48% Compare
TK Teekay Corporation Ltd. $1.2B 9.6× 41.1× −24.36% (below 0%: shrinking) −23.68% (below 0%: shrinking) +211.73% (above 0%: growing) 31.43% 27.41% Compare
Median of peers $1.6B 13.0× 16.5× +37.79% +164.47% +185.57% 43.58% 27.95%

All 58 Oil & Gas Midstream stocks →

Tsakos Energy Navigation Ltd (TEN) key facts

  • Concern: Tsakos Energy Navigation Ltd’s revenue for fiscal 2025 (year ended December 2025) was $798.7 million, down 0.67% from fiscal 2024.
  • Tsakos Energy Navigation Ltd (TEN) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, TEN traded at $51.07, a market capitalization of $1.5 billion.
  • Return on equity was 7.34% and debt-to-equity 1.02.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 0.86 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Oct 2, 2026.

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stockrow.com/TEN · Data as of Oct 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com