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Okeanis Eco Tankers Corp. (ECO)
NYSE:ECO
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Okeanis Eco Tankers Corp.
(NYSE:ECO)
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Rating:73Outperform
Price Target:
$28.00
▼(-4.34% Downside)
Okeanis Eco Tankers Corp. receives a strong overall score driven by favorable valuation metrics and positive earnings call sentiment. The company's ability to maintain profitability and strategic refinancing efforts are significant strengths. Technical analysis supports a bullish outlook, although financial performance is tempered by high leverage and cash flow concerns.
Okeanis Eco Tankers Corp. (ECO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
kr935.83M
Dividend Yield6.22%
Average Volume (3M)134.79K
Price to Earnings (P/E)14.2
Beta (1Y)0.56
Revenue Growth-14.77%
EPS Growth-44.86%
CountryUS
Employees13
SectorEnergy
Sector Strength52
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.83
Shares Outstanding32,194,107
10 Day Avg. Volume147,047
30 Day Avg. Volume134,791
Financial Highlights & Ratios
PEG Ratio-0.25
Price to Book (P/B)1.67
Price to Sales (P/S)1.74
P/FCF Ratio4.20
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr29.00Price Target Upside-0.92% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Okeanis Eco Tankers Corp. Business Overview & Revenue Model
Company DescriptionOkeanis Eco Tankers Corp., a tanker company, engages in the ownership, chartering and operation of oil tanker vessels worldwide. The company also provides various shipping services, such as technical support, maintenance, and insurance consulting services. It operates a fleet of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers. The company was incorporated in 2018 and is based in Piraeus, Greece.
How the Company Makes MoneyOkeanis Eco Tankers generates revenue primarily through the chartering of its fleet of eco-tankers. The company enters into time charters or spot charters with oil and gas companies, which pay for the transportation of their products over predetermined routes. The revenue model is influenced by market rates for shipping, fuel prices, and the overall demand for oil transportation. Additional revenue streams may include operational efficiencies derived from the eco-friendly design of their vessels, which can lead to lower fuel consumption and maintenance costs. Strategic partnerships with oil companies and other stakeholders in the energy sector also contribute to securing long-term contracts, enhancing revenue stability.
Okeanis Eco Tankers Corp. Earnings Call Summary
Earnings Call Date:Aug 12, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 12, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong financial results, successful refinancing efforts, and consistent shareholder returns. However, concerns were raised about declining spot market rates for Q3 and increased operational costs influenced by exchange rates. Overall, the positive aspects of financial performance and strategic execution were more prominent.Q2-2025 Updates
Positive Updates
Strong Financial Performance
Fleet-wide time charter equivalent (TCE) of $50,500 per vessel per day, adjusted EBITDA of $47.3 million, adjusted net profit of $26.7 million, and adjusted EPS of $0.83. TCE revenue for the 6-month period was $113 million, with EBITDA at nearly $80 million.
Consistent Shareholder Returns
Declared the 13th consecutive dividend of $0.70 per share, with total distributions over the last 4 quarters at $1.82 per share, approximately 9% of earnings for the period.
Refinancing Success
Successfully refinanced three Chinese leased vessels with attractive terms, lowering financing margins by 55 to 60 basis points and extending maturities by 1.5 years per vessel. Expect annual interest savings of $1 million and reduced daily cash break-even by over $1,000 per vessel per day.
Fleet Utilization and Strategy
Achieved 100% fleet utilization in VLCC and Suezmax segments. Strategic positioning and fleet flexibility led to profitable voyages and strong earnings despite market fluctuations.
Negative Updates
Decline in Q3 Spot Market Rates
As of the call, 77% of VLCCs fixed in the spot market at $44,200 per day and 60% of Suezmax days at $34,200, resulting in a fleet-wide average of $40,800, which is lower than Q2 rates.
Operational Costs and Exchange Rate Impact
Higher operating costs per vessel and G&A expenses partly due to exchange rate fluctuations. Costs are expected to be lower in the second half of the year.
Company Guidance
During Okeanis Eco Tankers' second quarter 2025 financial results call, the company reported a fleet-wide time charter equivalent of approximately $50,500 per vessel per day, with VLCCs at nearly $50,000 and Suezmaxes at $51,500. They achieved an adjusted EBITDA of $47.3 million, an adjusted net profit of $26.7 million, and an adjusted EPS of $0.83. The Board declared a dividend of $0.70 per share, marking the 13th consecutive distribution. The company's balance sheet showed $65 million in cash and $631 million in debt, with a book leverage of 57% and a market-adjusted net LTV of about 40%. Their fleet consists of 14 vessels, averaging 5.9 years in age, with capital expenditures focused on scheduled dry docks for two Suezmaxes. Recent refinancing transactions have improved their capital structure, reducing financing margins by 55 to 60 basis points, extending maturities by 1.5 years per vessel, and achieving annual interest savings of around $1 million. Their fleet's operational strategy leveraged market dynamics, with a focus on maximizing earnings and maintaining geographical balance. Looking ahead, the company remains optimistic about the market, expecting additional OPEC barrels to enhance tanker utilization and a constructive outlook for Q4 2025.Okeanis Eco Tankers Corp. Financial Statement Overview
Summary
Okeanis Eco Tankers Corp. shows strong profitability margins with a solid gross profit margin of 38.72% and a net profit margin of 19.52%. However, the company faces challenges with a high debt-to-equity ratio of 1.47 and a decline in free cash flow growth by 12.66%. Overall, the financial performance is mixed, with strong operational efficiency but concerns over leverage and cash flow.Income Statement
Okeanis Eco Tankers Corp. shows a mixed performance in its income statement. The TTM (Trailing-Twelve-Months) data indicates a decline in revenue growth rate by 4.98%, reflecting challenges in maintaining top-line growth. However, the company maintains a solid gross profit margin of 38.72% and a net profit margin of 19.52%, indicating efficient cost management. The EBIT and EBITDA margins are also strong at 32.93% and 44.94%, respectively, showcasing operational efficiency. Despite the recent revenue decline, the company has demonstrated resilience in profitability metrics.65
Positive
Balance Sheet
The balance sheet reveals a high debt-to-equity ratio of 1.47, indicating significant leverage, which could pose financial risks if not managed carefully. The return on equity (ROE) stands at 16.17%, reflecting moderate profitability for shareholders. The equity ratio is not explicitly calculated, but the company's leverage suggests a lower proportion of equity financing. While the company has managed to reduce its debt-to-equity ratio from previous years, the high leverage remains a concern.55
Neutral
Cash Flow
The cash flow statement shows a decline in free cash flow growth by 12.66% in the TTM period, indicating potential challenges in generating cash. However, the operating cash flow to net income ratio of 1.24 and a free cash flow to net income ratio of 1.0 suggest that the company is effectively converting its earnings into cash. Despite the recent decline in free cash flow growth, the company maintains a solid cash conversion efficiency.60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 344.21M | 393.23M | 413.10M | 270.97M | 169.00M | 282.87M |
| Gross Profit | 133.29M | 223.60M | 221.41M | 123.18M | 44.63M | 152.96M |
| EBITDA | 159.36M | 204.08M | 241.51M | 160.60M | 70.55M | 180.59M |
| Net Income | 67.18M | 108.86M | 145.25M | 84.56M | -902.90K | 101.32M |
Balance Sheet | ||||||
| Total Assets | 1.08B | 1.08B | 1.13B | 1.18B | 954.59M | 1.26B |
| Cash, Cash Equivalents and Short-Term Investments | 59.75M | 49.34M | 49.99M | 81.35M | 38.18M | 23.34M |
| Total Debt | 630.90M | 646.18M | 693.28M | 739.04M | 577.00M | 834.48M |
| Total Liabilities | 654.82M | 671.67M | 720.98M | 761.11M | 596.30M | 862.50M |
| Stockholders Equity | 428.30M | 410.43M | 408.13M | 422.24M | 358.29M | 397.23M |
Cash Flow | ||||||
| Free Cash Flow | 86.77M | 162.82M | 174.03M | -96.08M | 8.21M | -19.96M |
| Operating Cash Flow | 86.77M | 162.82M | 174.03M | 82.52M | 28.59M | 152.20M |
| Investing Cash Flow | -8.53M | -7.94M | 960.59K | -178.72M | 285.68M | -183.74M |
| Financing Cash Flow | -112.04M | -154.68M | -207.07M | 138.97M | -299.43M | 41.48M |
Okeanis Eco Tankers Corp. Technical Analysis
Positive
29.27
Price Trends
26.59
Positive
24.52
Positive
22.83
Positive
Market Momentum
0.88
Positive
56.22
Neutral
24.40
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 29.27 is above the 20-day moving average (MA) of 29.25, above the 50-day MA of 26.59, and above the 200-day MA of 22.83, indicating a bullish trend. The MACD of 0.88 indicates Positive momentum. The RSI at 56.22 is Neutral, neither overbought nor oversold. The STOCH value of 24.40 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $1.34B | 4.61 | 11.82% | 0.44% | -0.47% | -22.23% | |
78 Outperform | $490.33M | 11.72 | 7.26% | 3.20% | -21.59% | -70.74% | |
73 Outperform | kr935.83M | 14.16 | ― | 6.22% | -14.77% | -44.86% | |
67 Neutral | $770.69M | 51.42 | 1.73% | 5.62% | -17.15% | 2.40% | |
65 Neutral | $652.19M | 48.28 | 2.76% | 8.60% | -12.89% | -78.39% | |
58 Neutral | $1.00B | 28.95 | 3.40% | 13.41% | 3.51% | -74.09% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% |
* Energy Sector Average
ECO
Okeanis Eco Tankers Corp.
29.27
-2.37
-7.48%
GNK
Genco Shipping
17.80
-0.14
-0.78%
NMM
Navios Maritime Partners
45.05
-18.44
-29.04%
NAT
Nordic American Tanker
3.14
-0.23
-6.82%
SFL
SFL Corporation
7.53
-2.96
-28.22%
ASC
Ardmore Shipping
11.87
-5.81
-32.86%
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.