International Seaways, Inc. (INSW) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$5.27	$5.91	+12.1%	—	$467.3M	—
Q1 26	$2.72	$3.9	+43.4%	—	$325.5M	—
Q4 25	$1.97	$2.45	+24.4%	—	$267.9M	—
Q3 25	$0.94	$1.15	+22.3%	—	$196.4M	—
Q2 25	$0.9	$1.02	+13.3%	—	$195.6M	—
Q1 25	$0.64	$0.8	+25.0%	—	$183.4M	—
Q4 24	$0.9	$0.9	0.0%	—	$194.6M	—
Q3 24	$1.63	$1.57	-3.7%	—	$225.2M	—
Q2 24	$2.51	$2.37	-5.6%	—	$257.4M	—
Q1 24	$2.37	$2.92	+23.2%	—	$274.4M	—
Q4 23	$2.08	$2.18	+4.8%	—	$250.7M	—
Q3 23	$1.64	$2.04	+24.4%	—	$241.7M	—
Q2 23	$2.46	$3.12	+26.8%	—	$292.2M	—
Q1 23	$2.9	$3.27	+12.8%	—	$287.1M	—
Q4 22	$3.65	$4.21	+15.3%	—	$338.2M	—
Q3 22	$2.47	$2.29	-7.3%	—	$236.8M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$6.27	—	—	$843.3M	—
FY24	—	$8.45	—	—	$951.6M	—
FY23	—	$11.3	—	—	$1.1B	—
FY22	—	$7.85	—	—	$864.7M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$398.3M	$290.1M	$270.4M	$366.2M	$421.6M	$272.5M	$864.7M	$1.1B	$951.6M	$843.3M
YoY change	-20%	-27.2%	-6.8%	+35.4%	+15.1%	-35.4%	+217.3%	+24%	-11.2%	-11.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	398.3M	290.1M	270.4M	366.2M	421.6M	272.5M	864.7M	1.1B	951.6M	843.3M
Cost of revenue	272.5M	276.9M	279.6M	282.6M	252.5M	310.4M	394.1M	444.2M	473.4M	486.7M
Gross profit	125.8M	13.2M	-9.2M	83.5M	169.2M	-37.8M	470.5M	627.5M	478.2M	356.6M
Gross margin	31.6%	4.55%	-3.42%	22.8%	40.1%	-13.9%	54.4%	58.6%	50.2%	42.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	39.4M	25.1M	24.3M	26.8M	29M	33.2M	46.4M	47.5M	52.6M	50.2M
Operating expenses	39.4M	25.1M	24.3M	26.8M	29M	33.2M	46.4M	47.5M	52.6M	50.2M
Operating income	86.4M	-11.8M	-33.5M	55.5M	140.2M	-71M	424.2M	580.1M	425.6M	306.4M
Operating margin	21.7%	-4.08%	-12.4%	15.2%	33.3%	-26.1%	49.1%	54.1%	44.7%	36.3%
Non-operating income, net	-64.2M	-53.6M	3.4M	7.4M	-109.6M	-25.3M	17.9M	32.1M	29.9M	37.6M
Pretax income	-17.8M	-106M	-89M	-829K	-5.5M	-133M	388M	560.3M	415.6M	308.9M
Income tax	440K	44K	-105K	1K	1K	1.6M	88K	3.9M	-1.1M	-411K
Net income	-18.2M	-106.1M	-88.9M	-830K	-5.5M	-134.7M	387.9M	556.4M	416.7M	309.3M
Net margin	-4.57%	-36.6%	-32.9%	-0.23%	-1.31%	-49.4%	44.9%	51.9%	43.8%	36.7%
EBITDA	183.1M	117.2M	68.3M	146.1M	220.1M	38.1M	538.9M	723.8M	585.1M	478.2M
EPS	-0.62	-3.64	-3.05	-0.03	-0.2	-3.48	7.85	11.3	8.45	6.27
Diluted EPS	-0.62	-3.64	-3.05	-0.03	-0.2	-3.48	7.77	11.3	8.38	6.23

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	241.7M	250.7M	274.4M	257.4M	225.2M	194.6M	183.4M	195.6M	196.4M	267.9M	325.5M	467.3M
Cost of revenue	115M	116.3M	107.7M	116.9M	123.3M	125.6M	120.9M	125.2M	118M	122.5M	117.5M	151.6M
Gross profit	126.7M	134.4M	166.7M	140.5M	101.9M	69M	62.5M	70.4M	78.3M	145.4M	207.9M	315.7M
Gross margin	52.4%	53.6%	60.8%	54.6%	45.2%	35.5%	34.1%	36%	39.9%	54.3%	63.9%	67.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	12.3M	12.4M	12.4M	12M	13.4M	15.1M	13.2M	12.2M	11.8M	13M	9.4M	16.6M
Operating expenses	12.3M	12.4M	12.4M	13.4M	13.4M	15.1M	13.2M	12.3M	11.8M	13M	7.5M	14.3M
Operating income	114.4M	122M	154.4M	127.1M	88.5M	53.9M	49.2M	58.1M	66.5M	132.3M	200.4M	301.4M
Operating margin	47.3%	48.7%	56.3%	49.4%	39.3%	27.7%	26.9%	29.7%	33.9%	49.4%	61.6%	64.5%
Non-operating income, net	424K	25M	3M	30M	15.7M	-17.2M	11.8M	13.3M	13.6M	-985K	94.7M	4.1M
Pretax income	98M	135.6M	144.5M	144.7M	91.7M	34.7M	49.6M	61.6M	70.5M	127.1M	286.1M	294.9M
Income tax	52K	3.4M	0	0	-1K	-1.1M	—	—	0	-411K	—	-1K
Net income	97.9M	132.1M	144.5M	144.7M	91.7M	35.8M	49.6M	61.6M	70.5M	127.5M	286.1M	294.9M
Net margin	40.5%	52.7%	52.7%	56.2%	40.7%	18.4%	27%	31.5%	35.9%	47.6%	87.9%	63.1%
EBITDA	151.3M	151M	193.9M	168.1M	132.9M	88.5M	91.4M	102.5M	110.1M	174.1M	248M	345.6M
EPS	2	—	2.95	2.93	1.85	0.73	1	1.25	1.43	2.58	5.78	5.96
Diluted EPS	1.99	—	2.92	2.91	1.84	0.72	1	1.25	1.42	2.56	5.75	5.91

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	409.4M	538.3M	490.7M	869.8M	463.3M	—	—	2.2B	1.8B	2.4B	5.4B
Enterprise value	757M	1B	1.2B	1.5B	818.9M	—	—	2.8B	2.3B	2.8B	5.5B
Shares outstanding	29.2M	29.2M	29.1M	29.2M	28.4M	38.4M	49.4M	49M	49.3M	49.3M	49.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	—	4	4.25	7.74	6.96
P/S	1.03	1.86	1.81	2.38	1.1	—	—	2.08	1.86	2.84	4.27
P/B	0.35	0.5	0.49	0.85	0.48	—	—	1.3	0.95	1.19	2.38
EV/EBITDA	4.13	8.8	18.2	10.1	3.72	—	—	3.85	3.97	5.86	6.75
EV/Sales	1.9	3.55	4.6	4.02	1.94	—	—	2.6	2.44	3.33	4.34
Earnings yield	—	—	—	—	—	—	—	25%	23.5%	12.9%	14.4%
FCF yield	30.8%	-29.1%	-33.1%	5.78%	35.7%	—	—	21.6%	14.8%	1.59%	1.3%
PEG	—	—	—	—	—	—	—	—	—	—	0.02

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	31.6%	4.55%	-3.42%	22.8%	40.1%	-13.9%	54.4%	58.6%	50.2%	42.3%	67.6%
Operating margin	21.7%	-4.08%	-12.4%	15.2%	33.3%	-26.1%	49.1%	54.1%	44.7%	36.3%	64.2%
Net margin	-4.57%	-36.6%	-32.9%	-0.23%	-1.31%	-49.4%	44.9%	51.9%	43.8%	36.7%	61.8%
ROE	-1.54%	-9.77%	-8.81%	-0.08%	-0.57%	-11.5%	26.1%	32.4%	22.5%	15.3%	37.4%
ROA	-1.1%	-6.37%	-4.81%	-0.05%	-0.35%	-5.74%	14.8%	22.1%	15.8%	11.6%	15.8%
ROIC	5.66%	-0.75%	-1.9%	3.42%	10.6%	-3.23%	18.9%	25.3%	17.7%	12.6%	12.6%
Return on tangible assets	-1.1%	-6.37%	-4.81%	-0.05%	-0.35%	-5.74%	14.8%	22.1%	15.8%	11.6%	25.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.79	2.79	2.23	1.64	2.36	0.96	2.5	2.38	2.87	3.71	5.94
Quick ratio	3.76	2.72	2.19	1.6	2.33	0.95	2.49	2.37	2.86	3.71	5.76
Debt / equity	0.37	0.51	0.8	0.68	0.57	0.96	0.72	0.43	0.38	0.29	0.29
Debt / assets	0.26	0.33	0.44	0.39	0.35	0.48	0.41	0.3	0.27	0.22	0.22
Net debt / EBITDA	1.9	4.21	11	4.12	1.62	27	1.39	0.77	0.95	0.86	0.28
Interest coverage	0.56	-1.57	-0.48	0.99	0.85	-2.62	7.72	9.52	9.36	8.23	20.3
Effective tax rate	0%	0%	0%	0%	0%	0%	0.02%	0.69%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	13.7	9.95	9.28	12.5	14.9	7.1	17.5	21.9	19.3	17.1	25.5
EPS (basic)	-0.62	-3.64	-3.05	-0.03	-0.2	-3.48	7.85	11.3	8.45	6.27	6.27
EPS (diluted)	-0.62	-3.64	-3.05	-0.03	-0.2	-3.48	7.77	11.3	8.38	6.23	15.6
Book value per share	40.5	37.2	34.7	35	34.3	30.5	30.1	35.1	37.7	40.9	45.7
FCF per share	4.32	-5.37	-5.58	1.72	5.84	-4.04	3.47	9.84	5.32	0.77	5.4
Cash per share	3.16	2.06	2	3.07	7.03	2.55	6.56	3.81	3.2	3.38	8.27
Capex per share	0	0.63	5.81	0.54	2.58	4.32	2.01	1.35	1.36	6.93	7.3

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0%	6.32%	62.6%	4.31%	17.3%	60.8%	11.5%	6.16%	7.03%	40.5%	28.9%
Capex / operating cash flow	0%	-44.5%	-353.6%	18.6%	64.7%	-281.5%	32.5%	9.13%	11.5%	90%	57.5%
Payout ratio	-1.1K%	0%	0%	0%	-122.4%	-30.4%	18%	55.4%	68.3%	46.8%	24.9%
Dividend yield	49.3%	0%	0%	0%	1.46%	—	—	13.8%	16.1%	6.04%	18.6%

Yield

18.6%

trailing twelve months

Frequency

Quarterly

Last dividend

$5.05

ex-dividend Sep 10, 2026

Payout ratio

25%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 10, 2026	$5.05
Jun 12, 2026	$4.55
Mar 20, 2026	$2.15
Dec 9, 2025	$0.86
Sep 10, 2025	$0.77
Jun 12, 2025	$0.60
Mar 14, 2025	$0.12
Dec 13, 2024	$1.08

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$241.7M	$250.7M	$274.4M	$257.4M	$225.2M	$194.6M	$183.4M	$195.6M	$196.4M	$267.9M	$325.5M	$467.3M
YoY change	+2.06%	-25.9%	-4.43%	-11.9%	-6.83%	-22.4%	-33.2%	-24%	-12.8%	+37.6%	+77.5%	+138.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	92M	60M	58.3M	89.7M	199.4M	97.9M	323.7M	186.8M	157.5M	166.9M
Receivables	66.9M	58.2M	94.6M	9.5M	4.9M	7M	10.2M	9.9M	4.3M	8.3M
Inventory	1.3M	3.3M	3.1M	3.9M	3.6M	2.1M	531K	1.3M	1.9M	611K
Total current assets	170.9M	131.8M	167.6M	187.3M	256.8M	224.5M	642.6M	465M	376.3M	367M
Property, plant & equipment	-378.9M	-299.6M	-290.7M	-317.7M	-157.9M	-169.2M	-147.6M	-386.6M	-398.1M	-430.7M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	1.7B	1.7B	1.8B	1.8B	1.6B	2.3B	2.6B	2.5B	2.6B	2.7B
Accounts payable	2.9M	330K	1.2M	5M	2.6M	1.6M	1.8M	6.6M	5.8M	1.7M
Short-term debt	6.2M	24.1M	51.6M	83.3M	70.3M	187.1M	206.3M	137.7M	64.7M	29M
Total current liabilities	45.1M	47.2M	75.3M	114.5M	108.9M	234.6M	257.4M	195.6M	130.9M	98.9M
Long-term debt	433.5M	528.9M	759.1M	608.7M	484.6M	938.8M	868.3M	606.9M	647.1M	547.2M
Total liabilities	483M	578.8M	838.7M	731.2M	614.5M	1.2B	1.1B	805.1M	780.3M	648.4M
Shareholders' equity	1.2B	1.1B	1B	1B	972M	1.2B	1.5B	1.7B	1.9B	2B
Total debt	439.7M	552.9M	810.7M	692M	554.9M	1.1B	1.1B	744.5M	711.7M	576.2M
Net debt	347.6M	492.9M	752.4M	602.3M	355.5M	1B	830.9M	617.8M	554.2M	459.3M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	214M	186.8M	214.5M	176.1M	153.3M	157.5M	132.8M	148.8M	412.6M	166.9M	376.8M	409.4M
Receivables	7.6M	9.9M	8.7M	6.8M	6M	4.3M	6M	6.1M	9.4M	8.3M	30.1M	62.2M
Inventory	1.1M	1.3M	593K	1.9M	378K	1.9M	573K	522K	577K	611K	5.4M	24.9M
Total current assets	473.9M	465M	490.1M	434.6M	372.3M	376.3M	326.6M	332.4M	592M	367M	666.5M	783.3M
Property, plant & equipment	-381.5M	-386.6M	-423.6M	-449.4M	-466.2M	-398.1M	-243.7M	-261.3M	-161.1M	-430.7M	-388.8M	-430.9M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	14.7M	14.7M
Total assets	2.6B	2.5B	2.6B	2.7B	2.6B	2.6B	2.5B	2.5B	2.8B	2.7B	2.9B	3B
Accounts payable	—	6.6M	—	—	—	5.8M	—	—	—	1.7M	—	—
Short-term debt	144.5M	137.7M	137.7M	59.6M	57.5M	64.7M	62.2M	295.3M	288.1M	29M	30.4M	40.5M
Total current liabilities	187.3M	195.6M	179.8M	111.7M	103.3M	130.9M	118.4M	350.3M	337.7M	98.9M	90.8M	131.8M
Long-term debt	721M	606.9M	573.5M	670M	607.5M	647.1M	551.7M	266.4M	515.7M	547.2M	579.7M	612.2M
Total liabilities	910.9M	805.1M	756.5M	787.2M	713.2M	780.3M	673.5M	623.4M	855.8M	648.4M	677.1M	753.6M
Shareholders' equity	1.7B	1.7B	1.8B	1.9B	1.9B	1.9B	1.9B	1.9B	1.9B	2B	2.2B	2.3B
Total debt	865.5M	744.5M	711.2M	729.6M	665M	711.7M	613.9M	561.7M	803.8M	576.2M	610.1M	652.8M
Net debt	726.5M	617.8M	571.7M	553.5M	561.6M	554.2M	481.1M	412.9M	391.3M	459.3M	468.3M	493.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-18.2M	-106.1M	-88.9M	-830K	-5.5M	-134.7M	387.9M	556.4M	416.7M	309.3M
Depreciation & amortization	79.9M	78.9M	72.4M	75.7M	74.3M	86.7M	110.4M	129M	149.4M	163.6M
Stock-based compensation	2.8M	3.8M	3.2M	4.3M	5.6M	10.5M	6.7M	8.5M	9M	8.7M
Change in working capital	7.4M	-12M	-44.5M	11.2M	41.2M	-21.8M	-167M	54.6M	62.3M	16.3M
Operating cash flow	69.8M	-41.3M	-47.9M	84.8M	113M	-58.9M	305.1M	723M	580M	380.1M
Capital expenditure	0	18.3M	169.3M	15.8M	73.1M	165.8M	99.2M	66M	66.9M	-341.9M
Investing cash flow	5.3M	37.1M	273.8M	145.1M	82.9M	212.3M	159.5M	82.4M	125.2M	-392.6M
Dividends paid	-202M	0	0	0	-6.8M	-40.9M	-69.8M	-308.2M	-284.4M	-144.6M
Share repurchases	0	-3.2M	0	0	-30M	-16.7M	-20M	-13.9M	-25M	0
Financing cash flow	-357.3M	98M	-64.2M	-162.8M	-183.1M	-173.8M	-185.8M	-731.1M	-431.4M	-279.3M
Net change in cash	-282.1M	93.9M	161.7M	67.1M	12.8M	-20.4M	278.8M	74.2M	273.8M	-291.8M
Free cash flow	126.1M	-156.5M	-162.5M	50.3M	165.6M	-155.2M	171.1M	481.8M	262M	38.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	—	70.5M	127.5M	286.1M	294.9M
Depreciation & amortization	—	—	—	—	—	—	—	—	41.2M	41.4M	40.6M	39.7M
Stock-based compensation	—	—	—	—	—	—	—	—	2M	2.9M	1.5M	1.6M
Change in working capital	—	—	—	—	—	—	—	—	-11.5M	-11.7M	-82M	-51.1M
Operating cash flow	—	—	—	—	—	—	—	—	78.3M	146M	141.1M	267.7M
Capital expenditure	—	—	—	—	—	—	—	—	-87.7M	-152.7M	-71M	-52.3M
Investing cash flow	-36.3M	-27.3M	-75.8M	0	-50.8M	-200K	0	-250K	-87.7M	-203.1M	-260.5M	-67.3M
Dividends paid	—	—	—	—	—	—	—	—	-38M	-42.5M	-106.4M	-225.3M
Share repurchases	—	—	—	—	—	—	—	—	—	0	—	—
Financing cash flow	—	—	—	—	—	—	—	—	226.4M	-274.9M	-78.5M	-212.9M
Net change in cash	-36.3M	-27.3M	-75.8M	0	-50.8M	-200K	0	-250K	217M	-332M	-197.9M	-12.5M
Free cash flow	—	—	—	—	—	—	—	—	-9.4M	-6.7M	70.1M	215.4M

International Seaways, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement