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Tsakos Energy Navigation Limited (TEN)
:TEN
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Tsakos Energy Navigation
(NYSE:TEN)
Rating:79Outperform
Price Target:
$24.00
â–²(11.16% Upside)
Tsakos Energy Navigation (TEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$650.45M
Dividend Yield6.95%
Average Volume (3M)265.25K
Price to Earnings (P/E)4.8
Beta (1Y)0.77
Revenue Growth-3.67%
EPS Growth-8.90%
CountryUS
Employees77
SectorEnergy
Sector Strength62
IndustryOil & Gas Midstream
Share Statistics
EPS (TTM)0.92
Shares Outstanding30,127,604
10 Day Avg. Volume276,616
30 Day Avg. Volume265,246
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 Cap2.86
Enterprise Value/Revenue2.32
Enterprise Value/Gross Profit6.77
Enterprise Value/Ebitda4.55
Forecast
1Y Price Target
$29.00Price Target Upside34.32% 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 MoneyTEN generates revenue primarily through the chartering of its vessels to clients on both fixed and spot market contracts. The company has established long-term relationships with key customers, allowing it to secure stable income streams. Additionally, TEN benefits from a mix of time charters, where vessels are leased for a specified duration, and voyage charters, where payment is made based on the cargo transported. The company also capitalizes on fuel efficiency and advanced vessel technology, which can lead to lower operational costs and increased profitability. Strategic partnerships with oil and gas companies further enhance its market presence and revenue potential.
Tsakos Energy Navigation Earnings Call Summary
Earnings Call Date:Jun 17, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Sep 10, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong financial performance, fleet expansion, and a significant future income stream. Despite these positives, challenges such as stock price underperformance and geopolitical uncertainties were noted. Overall, positive achievements and strategic management significantly outweighed the lowlights.Q1-2025 Updates
Positive Updates
Record Future Income
Tsakos Energy Navigation reported a committed future income of approximately $3.7 billion, which spans several years and ensures profitability, limits volatility, and provides greater predictability in its earnings.
Fleet Expansion and Modernization
The company is undergoing its largest fleet expansion with 21 vessels being built, and it has completed the delivery of two new vessels. The fleet is being renewed with modern, state-of-the-art vessels.
Strong Market Demand
There is a huge demand for charters, even for older ships, with some vessels being chartered for up to 10 to 15 years.
High Fleet Utilization
The company reported a near maximum fleet utilization of 97.2% for Q1 2025.
Healthy Dividend
The company announced a first semiannual dividend of $0.60 per share to shareholders of record on July 14, 2025.
Profitable Quarter
The company reported a net income of $37.7 million for the first quarter of 2025.
Strategic Fleet Management
The company plans to sell older ships, potentially releasing close to $100 million of net cash flow, which could enhance dividend payments and reduce debt.
Negative Updates
Stock Price Underperformance
The company's stock has dropped from a 1-year high of $31 to almost half, despite strong financial performance and a significant future income stream.
Geopolitical and Market Uncertainties
The company is navigating through turbulent geopolitical waters, including issues like tariffs, extra port costs, and protectionism, which could impact business.
Company Guidance
During the Tsakos Energy Navigation conference call on June 17, 2025, the company provided several key metrics and guidance on its financial performance and strategic initiatives. The company reported a committed future income of approximately $3.7 billion from long-term charters, highlighting its strong market position and predictable earnings. Tsakos Energy Navigation is in the midst of significant fleet expansion, with 21 vessels under construction, enhancing its capacity to serve major energy clients. The company achieved a high fleet utilization rate of 97.2% in Q1 2025, resulting in gross revenues of $197.1 million, slightly lower than the $201.5 million from the previous year. Despite geopolitical uncertainties and market fluctuations, the company maintained a strong dividend and expressed confidence in its undervalued stock, which it suggested should be evaluated based on EBITDA multiples rather than net asset value. The company also emphasized its strategic focus on fleet renewal and potential growth in the VLCC and LNG segments, positioning itself as a significant transporter of energy on a global scale.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
Positive
21.59
Price Trends
19.90
Positive
18.23
Positive
17.68
Positive
Market Momentum
0.47
Negative
61.97
Neutral
85.54
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 21.59 is above the 20-day moving average (MA) of 20.44, above the 50-day MA of 19.90, and above the 200-day MA of 17.68, indicating a bullish trend. The MACD of 0.47 indicates Negative momentum. The RSI at 61.97 is Neutral, neither overbought nor oversold. The STOCH value of 85.54 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 (65)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $2.50B | 3.53 | 24.68% | 3.26% | -7.25% | 31.85% | |
79 Outperform | $650.45M | 4.83 | 9.22% | 6.95% | -3.67% | -8.90% | |
79 Outperform | $1.65B | 5.97 | 15.78% | 4.21% | -21.71% | -37.58% | |
77 Outperform | $4.55B | 13.16 | 14.79% | 6.67% | 0.88% | -45.41% | |
76 Outperform | $1.13B | 13.01 | 7.39% | 1.22% | 1.19% | 12.56% | |
75 Outperform | $1.83B | 9.75 | 17.90% | 6.83% | -8.89% | 21.28% | |
65 Neutral | $15.25B | 7.27 | 3.02% | 5.36% | 4.27% | -62.52% |
* Energy Sector Average
Performance Comparison
TEN
Tsakos Energy Navigation
21.59
-0.79
-3.53%
DHT
DHT Holdings
11.42
1.51
15.24%
FRO
Frontline
20.10
-1.56
-7.20%
STNG
Scorpio Tankers
49.03
-19.07
-28.00%
TNK
Teekay Tankers
47.45
-5.57
-10.51%
NVGS
Navigator Holdings
16.45
0.42
2.62%
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.