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Tsakos Energy Navigation (TEN)
NYSE:TEN
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Tsakos Energy Navigation
(NYSE:TEN)
73Outperform
Tsakos Energy Navigation (TEN) vs. S&P 500 (SPY)
Market Cap
$548.62M
Dividend Yield8.24%
Average Volume (3M)350.20K
Price to Earnings (P/E)3.6
Beta (1Y)0.80
Revenue Growth-9.61%
EPS Growth-43.91%
CountryUS
Employees77
SectorEnergy
Sector Strength55
IndustryOil & Gas Midstream
Share Statistics
EPS (TTM)0.40
Shares Outstanding30,127,604
10 Day Avg. Volume272,214
30 Day Avg. Volume350,198
Financial Highlights & Ratios
PEG Ratio-0.39
Price to Book (P/B)0.30
Price to Sales (P/S)0.00
P/FCF Ratio-1.54
Enterprise Value/Market Cap2.84
Enterprise Value/Revenue0.47
Enterprise Value/Gross Profit3.85
Enterprise Value/Ebitda0.95
Forecast
1Y Price Target
$40.00Price Target Upside119.78% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
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) generates revenue primarily through the transportation of crude oil, petroleum products, and liquefied natural gas (LNG) across international waters. The company earns income by chartering its fleet of tankers to major oil companies, refineries, and traders. These charters can be on a spot market basis, where ships are hired for single voyages, or on time charters, where vessels are leased for a specific period. Additionally, TEN enters into profit-sharing agreements with its charterers, where it can earn additional revenue based on the performance of the vessel or prevailing market conditions. Key factors contributing to TEN's earnings include global oil demand, shipping rates, fleet utilization, and operational efficiency. The company also benefits from strategic partnerships and alliances within the maritime and energy sectors, enhancing its market position and growth potential.
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 | EBIT |
| 278.56M | 391.50M | 256.35M | -119.86M | 96.69M | EBITDA |
| 434.74M | 555.78M | 378.37M | 14.82M | 218.00M | Net Income Common Stockholders |
| 176.23M | 300.18M | 204.23M | -151.40M | 24.00M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 343.37M | 372.03M | 304.37M | 117.19M | 160.47M | Total Assets |
| 3.71B | 3.36B | 3.31B | 2.89B | 3.11B | Total Debt |
| 1.37B | 1.60B | 1.67B | 1.47B | 1.57B | Net Debt |
| 1.03B | 1.23B | 1.36B | 1.35B | 1.41B | 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
Positive
18.20
Price Trends
16.47
Positive
17.05
Positive
19.38
Negative
Market Momentum
0.51
Negative
64.17
Neutral
83.83
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TEN, the sentiment is Positive. The current price of 18.2 is above the 20-day moving average (MA) of 16.99, above the 50-day MA of 16.47, and below the 200-day MA of 19.38, indicating a neutral trend. The MACD of 0.51 indicates Negative momentum. The RSI at 64.17 is Neutral, neither overbought nor oversold. The STOCH value of 83.83 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TEN.
Tsakos Energy Navigation Peers Comparison
Overall Rating
UnderperformOutperform
Sector (56)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | $1.82B | 10.21 | 17.04% | 8.35% | -5.32% | 5.51% | |
81 Outperform | $1.57B | 4.88 | 18.57% | 2.19% | -21.27% | -34.25% | |
78 Outperform | $2.14B | 3.04 | 24.68% | 3.82% | -7.25% | 31.85% | |
77 Outperform | $949.57M | 10.79 | 7.38% | 1.46% | 6.38% | 9.47% | |
75 Outperform | $3.97B | 8.01 | 21.46% | 9.78% | 13.77% | -24.50% | |
73 Outperform | $548.62M | 3.62 | 10.53% | 8.24% | -9.61% | -43.91% | |
56 Neutral | $7.25B | 3.36 | -3.66% | 5.65% | 0.66% | -50.71% |
* Energy Sector Average
Performance Comparison
TEN
Tsakos Energy Navigation
18.20
-9.84
-35.09%
DHT
DHT Holdings
11.58
0.12
1.05%
FRO
Frontline
18.07
-7.09
-28.18%
STNG
Scorpio Tankers
41.69
-37.73
-47.51%
TNK
Teekay Tankers
45.89
-22.53
-32.93%
NVGS
Navigator Holdings
14.00
-2.48
-15.05%
Tsakos Energy Navigation Earnings Call Summary
Earnings Call Date:Mar 27, 2025
(Q4-2024)
| % Change Since: 9.24%|
Next Earnings Date:Jun 25, 2025
Earnings Call Sentiment Positive
The earnings call reflects a positive outlook with significant achievements such as a record fleet expansion and securing a major shuttle tanker deal. Financial performance is strong with robust net income and EBITDA figures. However, there are concerns about the company's share price and increased finance costs. Overall, the positive aspects outweigh the challenges.Q4-2024 Updates
Positive Updates
Record Fleet Expansion
Tsakos Energy Navigation (TEN) announced a record 21 vessel expansion, resulting in a fleet pro forma of 82 vessels and $4 billion in contracted fixed revenues.
Milestone Shuttle Tanker Deal
TEN secured a $1.3 billion deal with Transpetro for nine DP2 shuttle tankers, establishing TEN as a leader in the shuttle tanker business.
Strong Financial Performance
TEN reported a net income of $176 million for 2024, equating to $5.03 per common share, and an adjusted EBITDA of $400 million.
High Utilization Rates
The fleet utilization rate was maintained at a healthy 92.5% for 2024, despite the softening market.
Long-term Contracts and Revenue Security
82% of the fleet's contracts are secured revenue contracts, providing stability and predictability in cash flows.
Negative Updates
Share Price Concerns
Despite positive financial results, the company's share price is reportedly half of what it was a year ago.
Increased Interest and Finance Costs
Interest and finance costs increased to $112 million in 2024, up from $100 million in 2023, due to higher interest rates.
Operating Challenges
The company faced lower fleet utilization due to scheduled drydockings, impacting operational metrics.
Company Guidance
During the Tsakos Energy Navigation conference call discussing the fourth quarter of 2024 financial results, several key metrics and strategic moves were highlighted. The company reported a fleet expansion to 82 vessels and contracted fixed revenues of $4 billion. A significant milestone was the $1.3 billion deal to build nine DP2 shuttle tankers with Transpetro, securing 15-year employment, which enhances TEN's status among shuttle tanker leaders. The company maintained ample liquidity and funded this transaction without stretching its balance sheet. Despite a fleet utilization drop to 92.5% and a reduced TCE per ship per day of $32,550, TEN achieved a net income of $176 million for 2024, equating to $5.03 per share. The company also highlighted a robust cash position of nearly $350 million and reiterated a $0.60 dividend for July 2025. The strategic divestment of older vessels and the enhancement of their fleet with eco-friendly options were emphasized as part of their growth strategy.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.