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Tsakos Energy Navigation (TEN)
NYSE:TEN
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Tsakos Energy Navigation
(NYSE:TEN)
Rating:77Outperform
Price Target:
$24.00
â–²(23.39%Upside)
Tsakos Energy Navigation (TEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$585.98M
Dividend Yield7.71%
Average Volume (3M)314.10K
Price to Earnings (P/E)4.3
Beta (1Y)0.70
Revenue Growth-3.67%
EPS Growth-8.90%
CountryUS
Employees77
SectorEnergy
Sector Strength56
IndustryOil & Gas Midstream
Share Statistics
EPS (TTM)0.92
Shares Outstanding30,127,604
10 Day Avg. Volume241,557
30 Day Avg. Volume314,099
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap3.18
Enterprise Value/Revenue2.32
Enterprise Value/Gross Profit6.77
Enterprise Value/Ebitda4.55
Forecast
1Y Price Target
$29.00Price Target Upside49.10% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Tsakos Energy Navigation Business Overview & Revenue Model
Company DescriptionTsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers. The company was formerly known as MIF Limited and changed its name to Tsakos Energy Navigation Limited in July 2001. The company was incorporated in 1993 and is based in Athens, Greece.
How the Company Makes MoneyTsakos Energy Navigation (TEN) makes money primarily through the chartering of its vessels to customers for the transportation of crude oil, petroleum products, and liquefied natural gas (LNG) across international waters. The company utilizes various types of charter agreements, including spot charters, time charters, and bareboat charters, which determine the duration and terms of the vessel's use. Revenue is generated based on the type of charter, with time charters typically providing more stable and predictable income, while spot charters can offer higher earnings during periods of strong market demand. TEN's earnings are also influenced by factors such as global oil demand, freight rates, and its ability to maintain high fleet utilization. Strategic partnerships and long-term contracts with major oil companies and traders further enhance its revenue stability.
Tsakos Energy Navigation Earnings Call Summary
Earnings Call Date:Jun 17, 2025
(Q1-2025)
| % Change Since: 6.05%|
Next Earnings Date:Sep 10, 2025
Earnings Call Sentiment Positive
The earnings call reflects a solid financial performance and strategic fleet expansion, underpinned by significant future income commitments. Despite challenges such as geopolitical tensions and stock underperformance, the company maintains strong operational and financial health, supported by high dividends.Q1-2025 Updates
Positive Updates
Record High Future Income Commitments
TEN has secured approximately $3.7 billion in future income through long-term charters, ensuring profitability and reduced volatility.
Fleet Expansion and Modernization
TEN is undergoing its largest fleet expansion with 21 new vessels being built, including advanced dual-fuel LNG-powered Aframax tankers.
Strong Financial Performance
TEN reported a net income of $37.7 million for Q1 2025, with an adjusted EBITDA of $99.3 million, close to the previous year's strong performance.
High Dividend Yield
The company declared a semiannual dividend of $0.60 per share, highlighting an 8-9% dividend yield, which is notable in the sector.
Negative Updates
Stock Price Underperformance
TEN’s stock is undervalued, trading at around 35% of its NAV, affected by general market nervousness and sector penalization.
Geopolitical and Market Challenges
The company navigates through geopolitical tensions and uncertainties, affecting market stability and operational conditions.
Decline in Spot Market Exposure
TEN's fleet exposure to the spot market declined from 19% in Q1 2024 to 18% in Q1 2025, potentially limiting earnings from spot market fluctuations.
Company Guidance
During the Tsakos Energy Navigation conference call discussing the first quarter of 2025 financial results, the company provided robust guidance supported by strong market fundamentals. The call highlighted a committed future income stream of approximately $3.7 billion through long-term charters, ensuring profitability and limiting volatility. The company is undergoing significant fleet renewal, with 21 state-of-the-art vessels being built, and has expanded its fleet to 82 vessels, including dual-fuel and shuttle tankers. The operating fleet achieved a high utilization rate of 97.2%, generating $197.1 million in gross revenues with an average time charter equivalent of $30,741 per day. Despite challenging geopolitical conditions, Tsakos Energy Navigation reported a net income of $37.7 million with earnings per share of $1.04 and declared a semiannual dividend of $0.60 per share. The management emphasized the undervaluation of their stock, given its strong financial performance and growth potential, and discussed potential strategies such as a spinoff to better reflect the company's value in the stock price.Tsakos Energy Navigation Financial Statement Overview
Summary
Tsakos Energy Navigation exhibits strong profitability and equity growth, albeit with notable revenue fluctuations and high leverage. Cash flow management is critical, as recent high capital expenditures have pressured free cash flow. The company must address operational challenges and maintain financial discipline to enhance stability.Income Statement
The company's revenue showed notable volatility with a decline in 2024 after strong growth in prior years. Gross profit margin and net profit margin reflect solid profitability in recent years, improving significantly from 2021. However, recent declines in revenue and net income in 2024 highlight potential demand fluctuations or operational challenges.75
Positive
Balance Sheet
The company maintains a stable equity position with a significant improvement in stockholders' equity over recent years. The debt-to-equity ratio remains relatively high, indicating substantial leverage, but a strong equity ratio provides a buffer. The return on equity is strong, reflecting effective use of equity capital despite high leverage.70
Positive
Cash Flow
The company's operating cash flow has been robust, yet free cash flow turned significantly negative in 2024 due to high capital expenditures. The free cash flow to net income ratio was negative, indicating cash flow challenges, but strong operating cash flow provides some comfort. The company must manage capital spending to improve free cash flow stability.65
Positive
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 804.06M | 889.57M | 860.40M | 546.12M | 644.13M |
| Gross Profit | 275.27M | 370.01M | 286.65M | 1.46M | 160.96M |
| EBITDA | 434.74M | 555.78M | 378.37M | 14.82M | 218.00M |
| Net Income | 176.23M | 300.18M | 204.23M | -151.40M | 24.00M |
Balance Sheet | |||||
| Total Assets | 3.71B | 3.36B | 3.31B | 2.89B | 3.11B |
| Cash, Cash Equivalents and Short-Term Investments | 343.37M | 372.03M | 304.37M | 117.19M | 160.47M |
| Total Debt | 1.37B | 1.60B | 1.67B | 1.47B | 1.57B |
| Total Liabilities | 1.94B | 1.71B | 1.79B | 1.60B | 1.73B |
| Stockholders Equity | 1.73B | 1.62B | 1.47B | 1.24B | 1.35B |
Cash Flow | |||||
| Free Cash Flow | -342.34M | 96.89M | -44.84M | -8.12M | 17.18M |
| Operating Cash Flow | 307.68M | 395.28M | 288.53M | 53.11M | 205.42M |
| Investing Cash Flow | -441.61M | -137.44M | -301.81M | -8.00M | -94.61M |
| Financing Cash Flow | 105.54M | -190.58M | 195.53M | -89.68M | -136.80M |
Tsakos Energy Navigation Technical Analysis
Neutral
19.45
Price Trends
18.85
Positive
17.48
Positive
17.74
Positive
Market Momentum
0.18
Positive
51.04
Neutral
46.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TEN, the sentiment is Neutral. The current price of 19.45 is below the 20-day moving average (MA) of 19.58, above the 50-day MA of 18.85, and above the 200-day MA of 17.74, indicating a neutral trend. The MACD of 0.18 indicates Positive momentum. The RSI at 51.04 is Neutral, neither overbought nor oversold. The STOCH value of 46.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TEN.
Tsakos Energy Navigation Peers Comparison
Overall Rating
UnderperformOutperform
Sector (45)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | $2.40B | 3.42 | 24.68% | 3.40% | -7.25% | 31.85% | |
79 Outperform | $1.07B | 12.17 | 7.38% | 1.29% | 6.38% | 9.47% | |
78 Outperform | $1.80B | 10.10 | 17.04% | 7.24% | -5.32% | 5.51% | |
77 Outperform | $585.98M | 4.33 | 9.22% | 7.71% | -3.67% | -8.90% | |
77 Outperform | $1.47B | 5.29 | 15.78% | 4.69% | -21.71% | -37.58% | |
73 Outperform | $4.19B | 12.03 | 14.79% | 7.13% | 0.88% | -45.41% | |
45 Neutral | AU$1.32B | -8.62 | -15.56% | 7.70% | 2.10% | -32.50% |
* Energy Sector Average
Performance Comparison
TEN
Tsakos Energy Navigation
19.45
-2.30
-10.57%
DHT
DHT Holdings
11.19
1.02
10.03%
FRO
Frontline
18.80
-1.80
-8.74%
STNG
Scorpio Tankers
47.05
-22.41
-32.26%
TNK
Teekay Tankers
42.60
-11.07
-20.63%
NVGS
Navigator Holdings
15.47
0.32
2.11%
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.