Okeanis Eco Tankers Corp. (ECO)
NYSE:ECO
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Okeanis Eco Tankers Corp.
(NYSE:ECO)
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Rating:71Outperform
Price Target:
$61.00
▲(18.22% Upside)
Action:ReiteratedDate:02/20/26
ECO scores well on profitability and improving leverage, reinforced by a bullish earnings-call setup with strong near-term fixture coverage. The score is held back by cyclical/uneven cash flow and still-large absolute debt, plus technically overbought conditions and valuation that is only moderately attractive despite a solid dividend yield.
Positive Factors
High profitability and margins
Sustained high gross and net margins provide durable cash generation and buffer against freight volatility. Elevated profitability supports repeated dividend distributions, funds fleet reinvestment and reduces sensitivity of operating cash flow to moderate rate declines, aiding multi-quarter resilience.
Negative Factors
Very high dividend payout ratio
A payout exceeding reported net income materially limits retained earnings and buffers. In a rate downturn this distribution policy could force dividend cuts, fresh equity issuance, or higher leverage, reducing strategic flexibility and increasing capital-structure risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Sustained high gross and net margins provide durable cash generation and buffer against freight volatility. Elevated profitability supports repeated dividend distributions, funds fleet reinvestment and reduces sensitivity of operating cash flow to moderate rate declines, aiding multi-quarter resilience.
Read all positive factors
Okeanis Eco Tankers Corp. (ECO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.10B
Dividend Yield6.5%
Average Volume (3M)134.78K
Price to Earnings (P/E)4.8
Beta (1Y)0.83
Revenue Growth-0.43%
EPS Growth10.49%
CountryUS
Employees13
SectorEnergy
Sector Strength52
IndustryMarine Shipping
Share Statistics
EPS (TTM)3.74
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 Cap1.09
Enterprise Value/Revenue5.86
Enterprise Value/Gross Profit11.85
Enterprise Value/Ebitda11.05
Forecast
1Y Price Target
$55.00Price Target Upside6.59% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)9.18
Revenue Forecast (FY)$506.60M
Okeanis Eco Tankers Corp. Business Overview & Revenue Model
Company Description
Okeanis 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 ...
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:Feb 18, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call emphasized strong operating and financial performance: high Q4 and full-year earnings, 100% Q4 utilization, accretive equity raises executed at premiums to NAV, substantial dividends and a modern young fleet. Management highlighted supportive market fundamentals (Venezuelan barrels returning, Synacor consolidation) and strong forward fixtures that underpin Q1 visibility. Key risks discussed were drydock-related earnings penalties, high dividend payout ratios (including a dividend equal to >100% of net income), NAV premium compression, trade receivables concentration and moderate leverage. On balance, positive operational and capital-markets execution and the weight of structural market tailwinds outweigh the noted operational and capital allocation risks.Positive Updates
Strong Quarterly and Annual Financial Performance
Q4 adjusted EBITDA of $79.0M, adjusted net profit of $60.0M and adjusted EPS of $1.78. Full year TCE revenue $265.4M, EBITDA ~ $204M and reported net income ~ $130M ( $3.77/share ).
Negative Updates
Drydock-Related Penalties and Positioning Costs
Two 2020-built Suezmaxes underwent dry docking in China in Q4 which penalized earnings due to repositioning costs and weaker freight economics in eastern trades; company considering placing a 2026 dry dock in Turkey which is $0.25–$0.5M more expensive but reduces repositioning opportunity cost.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Quarterly and Annual Financial Performance
Q4 adjusted EBITDA of $79.0M, adjusted net profit of $60.0M and adjusted EPS of $1.78. Full year TCE revenue $265.4M, EBITDA ~ $204M and reported net income ~ $130M ( $3.77/share ).
Read all positive updates
Company Guidance
Management guided to a strong Q1 driven by visible, accretive fixtures and a bullish market: as of the update they have 67% of VLCC spot days fixed at $104,200/day and 64% of Suezmax days fixed at $84,600/day, with the fixed portion (~2/3 of the quarter) averaging about $94,800/day; they also cited a 12‑month charter at $91,140 and multiple 12‑month fixtures near $100,000/day. For context they reported Q4 fleet‑wide TCE of ~$76.7k/day (VLCCs ~$92k, Suezmaxes ~$53k) with 100% utilization, and noted operational plans to reposition two newbuild Suezmaxes into the West in Q1. Management emphasized balance‑sheet strength behind the guidance—$122.5m cash, ~$605m debt (plus a subsequent $90m draw), book leverage ~46% and market‑adjusted net LTV ~35%—and reiterated their shareholder return focus with a declared $1.55/share quarterly dividend (15th consecutive) after Q4 adjusted EBITDA of $79m, adjusted net profit of $60m and adjusted EPS of $1.78.Okeanis Eco Tankers Corp. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 391.55M | 393.23M | 413.10M | 270.97M | 169.00M |
| Gross Profit | 224.44M | 223.60M | 221.41M | 123.18M | 44.63M |
| EBITDA | 203.97M | 204.08M | 241.51M | 157.60M | 64.85M |
| Net Income | 122.95M | 108.86M | 145.25M | 84.56M | -902.90K |
Balance Sheet | |||||
| Total Assets | 1.20B | 1.08B | 1.13B | 1.18B | 954.59M |
| Cash, Cash Equivalents and Short-Term Investments | 116.64M | 49.34M | 49.99M | 81.35M | 38.18M |
| Total Debt | 605.10M | 646.18M | 693.28M | 739.04M | 577.00M |
| Total Liabilities | 627.55M | 671.67M | 720.98M | 761.11M | 596.30M |
| Stockholders Equity | 573.09M | 410.43M | 408.13M | 422.24M | 358.29M |
Cash Flow | |||||
| Free Cash Flow | 71.11M | 153.67M | 171.61M | -98.98M | 6.29M |
| Operating Cash Flow | 111.30M | 164.86M | 174.92M | 81.16M | 28.60M |
| Investing Cash Flow | -42.42M | -11.24M | -1.27M | -179.10M | 285.67M |
| Financing Cash Flow | -3.45M | -153.42M | -205.72M | 140.70M | -299.43M |
Okeanis Eco Tankers Corp. Technical Analysis
Positive
51.60
Price Trends
47.64
Positive
41.64
Positive
34.32
Positive
Market Momentum
0.86
Positive
57.87
Neutral
46.65
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 49.82, above the 50-day MA of 47.64, and above the 200-day MA of 34.32, indicating a bullish trend. The MACD of 0.86 indicates Positive momentum. The RSI at 57.87 is Neutral, neither overbought nor oversold. The STOCH value of 46.65 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | $2.10B | 4.81 | ― | 6.50% | -0.43% | 10.49% | |
70 Outperform | $2.09B | 3.29 | 8.85% | 0.39% | 0.76% | -19.76% | |
69 Neutral | $1.11B | 0.03 | -0.49% | 4.04% | -19.14% | -105.80% | |
69 Neutral | $766.68M | 11.54 | 6.37% | 2.80% | -23.56% | -71.23% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
59 Neutral | $1.70B | -55.73 | -2.63% | 12.24% | -18.95% | -120.07% | |
51 Neutral | $1.22B | 15.62 | 2.59% | 10.65% | -16.39% | -74.03% |
* Energy Sector Average
ECO
Okeanis Eco Tankers Corp.
54.80
32.68
147.74%
GNK
Genco Shipping
25.50
12.72
99.53%
NMM
Navios Maritime Partners
73.36
37.53
104.73%
NAT
Nordic American Tanker
5.77
3.46
150.00%
SFL
SFL Corporation
11.78
4.32
57.91%
ASC
Ardmore Shipping
18.79
9.30
98.02%
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.