| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 82 | 4.8x | 17.8x | Top tier | |
Growth | 39 | 23.2% | 7.1% | Bottom tier | |
Quality | 79 | 10.3% | 4.5% | Top tier | |
Safety | 61 | — | 2.6x | Around median | |
Capital Return | 81 | 1.04% | 2.12% | Top tier | |
Momentum | 98 | 79.3% | 2.9% | Top tier | |
Sentiment | 33 | 2 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Tsakos Energy Navigation Limited operates in seaborne energy transportation through an operating fleet of 62 vessels, rising to 81 vessels on a pro forma basis after including vessels under construction. The pro forma fleet is divided among crude oil and product tankers, four liquefied natural gas carriers—two in operation and two under construction—and 16 shuttle tankers; its customer base includes ExxonMobil, its largest customer by revenue, followed by Equinor, Shell, Chevron, TotalEnergies, and BP. The earnings model uses time-charter contracts to cover cash expenses, while generating earnings upside from vessels operating in the spot market and profit-sharing contracts; in Q2 of fiscal year 2026, 52 of the 62 operating vessels, or 84%, were tied to secured revenue, while 23 vessels, or 37%, had market exposure through spot operations or profit-sharing.
In Q2 of fiscal year 2026, revenue rose to $298 million from $193 million in Q2 of fiscal year 2025, exceeding market expectations by approximately $69.5 million. Net income reached $139.3 million, including a $38 million capital gain, versus $26.8 million, while earnings per share rose to $4.40 from $0.67, and adjusted earnings before interest, taxes, depreciation, and amortization increased 81% to $170.4 million, equivalent to a margin of approximately 57% of revenue. Profit-sharing contracts contributed $30.5 million during the quarter, while spot operations represented approximately 12% of total fleet operating days.
During the first half of fiscal year 2026, revenue reached $551 million, an increase of $161 million over the first half of fiscal year 2025, despite the average fleet size increasing by only 1.5 vessels to 63.5 vessels. Net income rose 253% to $228 million, earnings per share increased 318% to $7.12, operating income climbed 146% to $273 million, and adjusted earnings before interest, taxes, depreciation, and amortization increased 68% to $324 million. Fleet utilization reached 96.5%, while the vessel-equivalent time-charter rate jumped to $43,503 per day from $30,754, and the profit-sharing contribution rose to $71 million from $10 million.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average price target of $35 and a wide range of $20 to $50. The average target is below the 52-week range high of $46.64 and above its low of $20.50, while the breadth of the targets reflects substantial disagreement over the sustainability of the surge in freight rates and earnings; no price-to-earnings ratio is available to serve as an additional valuation anchor.
Figures in the text are as of 2026-09-11; the live price is shown at the top of the page.
Revenue rose to $298 million from $193 million in Q2 of fiscal year 2025, with an average operating fleet of 63.5 vessels versus 62 vessels. Net income reached $139.3 million, including a $38 million capital gain, compared with $26.8 million in the corresponding period. Earnings per share also reached $4.40, while adjusted earnings before interest, taxes, depreciation, and amortization rose 81% to $170.4 million.
The company has 23 vessels exposed to the market through spot operations or profit-sharing contracts, including 13 vessels operating under profit-sharing arrangements. According to the company, every $1,000-per-day increase in the spot rate adds approximately $0.11 to annual earnings per share based on the current fleet composition. The profit-sharing contribution reached $71 million in the first half of fiscal year 2026, including $30.5 million in Q2 of fiscal year 2026, and management expects a significant increase during the second half following improved contract terms.
The program includes 26 new vessels at a cost of approximately $3.1–3.2 billion, and TEN had taken delivery of seven vessels as of the September 10, 2026 call, with 19 remaining. Management estimated that the program's value had increased by at least 30% to approximately $3.8–3.9 billion, even before some vessels were delivered. The delivered vessels include Anfield, which began a ten-year contract with a major U.S. oil company on July 28, 2026, with extension options that could raise expected total revenue to approximately $500 million.
TEN paid distributions of $0.60 and then $1, for a total of $1.60 per share during calendar year 2026. Management said it intends to announce an increase in the semiannual distribution following the strategy meeting in November 2026, but the decision remains subject to board approval and the continuation of market conditions. It also explained that it prefers increasing the regular semiannual distribution over paying special distributions or switching to a quarterly schedule.
The company operates amid a closure and severe disruption in the Strait of Hormuz, and it confirmed on September 10, 2026, that its vessels are avoiding the strait to protect crews, vessels, and the environment. Financial liabilities rose to $2.1 billion on June 30, 2026, alongside the financing of a major construction program, while net debt to capital stood at approximately 44.5%. In addition, 23 vessels are exposed to spot rates or profit-sharing, making results sensitive to a reversal in the shipping cycle following the exceptional levels recorded in fiscal year 2026.
Committed future revenue reached approximately $3.5 billion according to management's presentation on September 10, 2026, providing a contractual base for the following years. Within the operating fleet, 52 of 62 vessels, or 84%, were tied to fixed time-charter contracts or charters with profit-sharing. This contractual coverage balances market exposure through ten vessels operating in the spot market and 13 vessels under profit-sharing contracts.
