Okeanis Eco Tankers Corp. (ECO)
NYSE:ECO
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Okeanis Eco Tankers Corp.
(NYSE:ECO)
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Rating:74Outperform
Price Target:
$56.00
▲(8.53% Upside)
Action:Reiterated
Date:06/12/26
The score is driven primarily by strong current financial performance and a very bullish earnings outlook with high forward cover and record-rate fixtures, supported by attractive valuation (low P/E and high yield). Offsetting these positives are negative TTM free cash flow, meaningful leverage in a cyclical industry, and currently soft technical momentum.
Positive Factors
High profitability and accelerating revenue
TTM net margins near 31% alongside ~23% revenue re-acceleration indicate durable commercial strength and pricing power when markets are supportive. Over a 2–6 month horizon this underpins cash flow generation and the company's ability to sustain distributions and absorb cyclical soft patches.
Negative Factors
Meaningful leverage and balance-sheet sensitivity
Debt modestly above equity leaves limited cushion if charter rates collapse. In a down-cycle this leverage can force asset sales, curtail distributions, or restrict growth. Over a multi-month horizon, balance-sheet sensitivity remains a structural risk given shipping cyclicality and large absolute debt loads.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and accelerating revenue
TTM net margins near 31% alongside ~23% revenue re-acceleration indicate durable commercial strength and pricing power when markets are supportive. Over a 2–6 month horizon this underpins cash flow generation and the company's ability to sustain distributions and absorb cyclical soft patches.
Read all positive factors
Okeanis Eco Tankers Corp. (ECO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.01B
Dividend Yield6.5%
Average Volume (3M)134.78K
Price to Earnings (P/E)9.7
Beta (1Y)0.82
Revenue Growth32.94%
EPS Growth128.18%
CountryUS
Employees13
SectorEnergy
Sector Strength52
IndustryMarine Shipping
Share Statistics
EPS (TTM)5.66
Shares Outstanding39,044,655
10 Day Avg. Volume125,981
30 Day Avg. Volume134,785
Financial Highlights & Ratios
PEG Ratio0.78
Price to Book (P/B)1.93
Price to Sales (P/S)2.82
P/FCF Ratio15.52
Enterprise Value/Market Cap1.11
Enterprise Value/Revenue4.64
Enterprise Value/Gross Profit8.13
Enterprise Value/Ebitda8.12
Forecast
1Y Price Target
$61.34Price Target Upside18.88% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)11.34
Revenue Forecast (FY)$610.41M
Okeanis Eco Tankers Corp. Business Overview & Revenue Model
Company Description
Okeanis Eco Tankers Corp. is a global maritime enterprise primarily involved in the acquisition, chartering out, and operational oversight of oil tanker vessels worldwide. Beyond its core business, the firm also delivers a variety of shipping-rela...
How the Company Makes Money
ECO makes money by earning charter revenue from deploying its crude oil tanker fleet in the spot and/or time-charter markets. Under time-charter contracts, the company typically receives a fixed daily hire rate for making a vessel available to a c...
Okeanis Eco Tankers Corp. Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive operational and financial picture driven by record TCEs, significant adjusted EBITDA/net profit, a generous dividend, substantial commercial outperformance versus peers, improved low-cost financing and strong liquidity. These positives were tempered by a few company-specific operational items (a flagged commercial mistake and a vessel trapped in the AG), Q1 timing effects on G&A and revenue recognition, and macro/geopolitical uncertainty around the Strait of Hormuz which could make near-term results volatile. On balance the positives materially outweigh the negatives.Positive Updates
Record Quarter and Strong H1 Outlook
Q1 2026 was a record quarter for OET; management expects Q1+Q2 combined to be stronger than any previous year in company history, with commentary that potential distributions tied to the half-year approach the company's 2018 listing price.
Negative Updates
Commercial Mistake Lost Upside
Management flagged a commercial error fixing the Nissos Nikouria for 1 year at a net $90,000/day—below subsequent spot levels—resulting in missed upside during the spike.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Quarter and Strong H1 Outlook
Q1 2026 was a record quarter for OET; management expects Q1+Q2 combined to be stronger than any previous year in company history, with commentary that potential distributions tied to the half-year approach the company's 2018 listing price.
Read all positive updates
Company Guidance
The company guided that Q2 should be extraordinary—Q1+Q2 combined will be stronger than any prior year and Q2 earnings alone are likely to exceed any previous full-year result—driven by substantial forward cover (56% of available VLCC spot days fixed at $223,900/day, 60% of Suezmax days fixed at $187,300/day, giving a fixed-portion fleet average of ~$202,900/day and roughly half the quarter covered). Management anchored this to Q1 metrics (fleet-wide TCE ~$93,100/day; spot VLCC ~$106,400/day; Suezmax spot ~$81,600/day), reported adjusted EBITDA $110.0M, adjusted net profit $89.0M and adjusted EPS $2.33, and reiterated a $2.00/share quarterly dividend (16th consecutive, ~88% of reported net income). Balance sheet and liquidity positions underpin the guidance: cash ~$176.5M, trade receivables ~ $80M, debt $683M (book leverage 41%, market-adjusted net LTV ~just over 30%), fleet of 16 vessels (8 VLCC/8 Suezmax, avg age ~6 years), and new financings with loans priced below 2% (weighted average margin 1.47%) yielding >$15M/year in interest savings pro forma. Management emphasized three supportive Hormuz scenarios (pre-closure exports ~14.9M bpd vs ~7.4M bpd rerouting capacity → ~7.5M bpd structural shortfall) and stressed that ~155 VLCCs (63 inside AG + >55 waiting outside + ~36 at Yanbu) equate to ~17% of the global 920-VLCC fleet (or ~22% of a ~700 compliant fleet), all of which underpin their bullish Q2 outlook.Okeanis Eco Tankers Corp. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
68
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 481.57M | 391.55M | 393.23M | 413.10M | 270.97M | 169.00M |
| Gross Profit | 274.61M | 224.44M | 223.60M | 221.41M | 123.18M | 44.63M |
| EBITDA | 274.92M | 164.39M | 203.63M | 244.31M | 157.60M | 64.85M |
| Net Income | 198.71M | 122.95M | 108.86M | 145.25M | 84.56M | -902.90K |
Balance Sheet | ||||||
| Total Assets | 1.45B | 1.20B | 1.08B | 1.13B | 1.18B | 954.59M |
| Cash, Cash Equivalents and Short-Term Investments | 125.57M | 116.64M | 49.34M | 49.99M | 81.35M | 38.18M |
| Total Debt | 683.09M | 605.10M | 646.18M | 693.28M | 739.04M | 577.00M |
| Total Liabilities | 721.76M | 627.55M | 671.67M | 720.98M | 761.11M | 596.30M |
| Stockholders Equity | 725.29M | 573.09M | 410.43M | 408.13M | 422.24M | 358.29M |
Cash Flow | ||||||
| Free Cash Flow | -28.50M | 71.11M | 153.67M | 171.61M | -98.98M | 6.29M |
| Operating Cash Flow | 207.83M | 111.30M | 164.86M | 174.92M | 81.16M | 28.60M |
| Investing Cash Flow | -282.24M | -42.42M | -11.24M | -1.27M | -179.10M | 285.67M |
| Financing Cash Flow | 161.27M | -3.45M | -153.42M | -205.72M | 140.70M | -299.43M |
Okeanis Eco Tankers Corp. Technical Analysis
Positive
51.60
Price Trends
50.82
Positive
47.56
Positive
39.26
Positive
Market Momentum
0.24
Negative
57.20
Neutral
72.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ECO, the sentiment is Positive. The current price of 51.6 is above the 20-day moving average (MA) of 49.93, above the 50-day MA of 50.82, and above the 200-day MA of 39.26, indicating a bullish trend. The MACD of 0.24 indicates Negative momentum. The RSI at 57.20 is Neutral, neither overbought nor oversold. The STOCH value of 72.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ECO.
Okeanis Eco Tankers Corp. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $2.00B | 5.90 | 10.67% | 0.39% | 5.87% | 8.14% | |
78 Outperform | $696.50M | 11.92 | 9.01% | 2.80% | -13.22% | -42.17% | |
74 Outperform | $2.01B | 9.66 | ― | 6.50% | 32.94% | 128.18% | |
71 Outperform | $1.03B | 61.36 | <0.01% | 4.04% | 2.22% | -63.61% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | $1.56B | 45.56 | 3.21% | 12.24% | -16.39% | -44.25% | |
54 Neutral | $1.24B | 22.81 | 11.76% | 10.65% | 4.65% | 49.74% |
* Energy Sector Average
ECO
Okeanis Eco Tankers Corp.
52.48
31.54
150.66%
GNK
Genco Shipping
23.68
11.41
93.04%
NMM
Navios Maritime Partners
70.16
31.08
79.52%
NAT
Nordic American Tanker
5.85
3.44
142.84%
SFL
SFL Corporation
10.81
2.90
36.66%
ASC
Ardmore Shipping
17.07
7.65
81.21%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.