Tsakos Energy Navigation (TEN) AI Stock Analysis

• Market Cap: $772.92M
• Dividend Yield: 4.95%
• Average Volume (3M): 240.51K
• Price to Earnings (P/E): 7.9
• Beta (1Y): 1.02
• Revenue Growth: -8.52%
• EPS Growth: -42.05%
• Country: US
• Employees: 77
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Midstream
• EPS (TTM): 0.75
• Shares Outstanding: 30,805,777
• 10 Day Avg. Volume: 291,724
• 30 Day Avg. Volume: 240,506
• PEG Ratio: -0.07
• Price to Book (P/B): 0.30
• Price to Sales (P/S): 0.64
• P/FCF Ratio: -1.49
• Enterprise Value/Market Cap: 2.98
• Enterprise Value/Revenue: 2.88
• Enterprise Value/Gross Profit: 8.38
• Enterprise Value/Ebitda: 5.96
• 1Y Price Target: $37.50
• Price Target Upside: 49.46% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 4.46
• Revenue Forecast (FY): $748.83M

• Rating: 73 Outperform
• Price Target: $27.00 ▲(7.61% Upside)

The score is driven primarily by solid underlying financial performance but tempered by negative 2024 free cash flow and high leverage during a heavy capex/newbuild phase. Offsetting that, valuation is attractive (low P/E and ~4.6% yield) and the earnings call indicated strong forward visibility via a $4B contracted backlog and high utilization. Technically, the uptrend is constructive, though momentum indicators are mixed (negative MACD).

Positive Factors

Contracted backlog and revenue visibility

A $4B contracted backlog provides multi-year cash flow visibility that stabilizes revenue and supports planning for debt servicing, dividend policy and capex. This reduces earnings volatility and enhances predictability through the 2026–2028 newbuild delivery window.

High fleet utilization and strong TCE

Sustained ~96% utilization and healthy TCE rates indicate tight market positioning and operational efficiency, supporting durable gross margins and operating cash flow generation. High utilization helps absorb fixed vessel costs and underpins long-term profitability.

Strategic fleet renewal program

A planned 20-vessel renewal modernizes the fleet, improving fuel efficiency, compliance and long-term reliability. Newbuilds and disposal of older vessels can lower operating costs, attract long-term charters and preserve competitive advantage over a multi-year horizon.

Negative Factors

High leverage

Material leverage constrains financial flexibility and raises refinancing risk, especially during a heavy capex cycle. Elevated debt amplifies sensitivity to rate moves and market shocks, limiting the company’s ability to fund growth or absorb prolonged downturns without asset sales or equity issuance.

Materially negative free cash flow in 2024

Significant negative FCF driven by capex reduces internal funding for dividends and debt service, increasing reliance on external financing or disposals. Persistent negative FCF through the newbuild cycle could pressure liquidity and raise execution and covenant risks.

Execution and funding risk from large newbuild program

A concentrated 20-vessel newbuild schedule creates execution risk (timing, delivery, cost overruns) and sizeable near-term funding needs. Delays or cost growth could strain cash, increase leverage, and alter fleet availability, impacting revenue and margin sustainability over the medium term.

Tsakos Energy Navigation Business Overview & Revenue Model

Company Description

Tsakos 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 Money

Tsakos Energy Navigation generates revenue primarily through the chartering of its vessels to various clients, including oil and gas companies. The company employs a mix of spot and time charters, allowing it to capitalize on fluctuating market rates for shipping services. Key revenue streams include long-term contracts with major oil companies for the transportation of crude oil and refined products, as well as short-term spot charters that take advantage of favorable market conditions. Additionally, TEN may benefit from strategic partnerships with energy companies, enhancing its operational efficiency and securing consistent business. The company also manages its vessels to generate supplemental income, further diversifying its revenue sources.

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.

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.

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.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	799.52M	804.06M	889.57M	860.40M	546.12M	644.13M
Gross Profit	274.83M	275.27M	370.01M	286.65M	1.46M	160.96M
EBITDA	386.38M	434.74M	555.78M	371.39M	99.15M	218.00M
Net Income	159.91M	176.23M	300.18M	204.23M	-151.40M	24.00M
Balance Sheet
Total Assets	3.67B	3.71B	3.36B	3.31B	2.89B	3.11B
Cash, Cash Equivalents and Short-Term Investments	349.58M	348.31M	376.69M	309.44M	127.20M	171.77M
Total Debt	1.71B	1.76B	1.60B	1.67B	1.46B	1.57B
Total Liabilities	1.89B	1.94B	1.71B	1.79B	1.60B	1.73B
Stockholders Equity	1.78B	1.73B	1.62B	1.47B	1.24B	1.35B
Cash Flow
Free Cash Flow	-417.30M	-342.34M	96.89M	-44.84M	-8.12M	17.18M
Operating Cash Flow	232.73M	307.68M	395.28M	288.53M	53.11M	205.42M
Investing Cash Flow	-244.59M	-441.61M	-137.44M	-301.81M	-8.00M	-94.61M
Financing Cash Flow	16.18M	105.54M	-190.58M	195.53M	-89.68M	-136.80M

Tsakos Energy Navigation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 25.09
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 25.09 is above the 20-day moving average (MA) of 22.68, above the 50-day MA of 23.52, and above the 200-day MA of 20.06, indicating a bullish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 68.09 is Neutral, neither overbought nor oversold. The STOCH value of 81.69 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FLNG	79 Outperform	$1.39B	14.16	12.79%	12.31%	-3.20%	6.76%
NVGS	79 Outperform	$1.18B	11.96	8.57%	1.27%	2.46%	33.89%
TEN	73 Outperform	$772.92M	7.92	6.76%	4.95%	-8.52%	-42.05%
DHT	72 Outperform	$2.16B	10.79	18.81%	6.12%	-16.45%	23.94%
TNK	68 Neutral	$2.04B	6.54	17.02%	3.72%	-20.11%	-26.44%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

Tsakos Energy Navigation Corporate Events

Tsakos Energy Navigation Reports Strong Q3 2025 Results and Announces Dividend

On November 20, 2025, Tsakos Energy Navigation Limited announced its financial results for the nine months and third quarter ending September 30, 2025. The company reported gross revenues of $577 million and a net income of $103 million for the nine-month period, highlighting a strong performance supported by market tightness and geopolitical factors. TEN declared a $1.00 per share dividend and emphasized its ongoing fleet expansion with 20 new vessels under construction. The company also noted improved fleet utilization and lower interest costs due to favorable global interest rates. The delivery of new vessels and strategic long-term contracts are expected to enhance TEN’s market positioning and provide attractive opportunities for stakeholders.

The most recent analyst rating on (TEN) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Tsakos Energy Navigation stock, see the TEN Stock Forecast page.

Tsakos Energy Navigation Appoints New Board Member to Strengthen Leadership

On October 27, 2025, Tsakos Energy Navigation Limited appointed Clio Hatzimichalis, the company’s General Counsel since 2015, to its Board of Directors, increasing the board to ten members, with a majority being independent directors. This strategic move enhances the company’s governance structure and reflects its commitment to strong leadership, potentially strengthening its position in the competitive shipping industry.

The most recent analyst rating on (TEN) stock is a Buy with a $24.50 price target. To see the full list of analyst forecasts on Tsakos Energy Navigation stock, see the TEN Stock Forecast page.