| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 88 | 5.9x | 17.8x | Top tier | |
Growth | 40 | 15.6% | 7.1% | Around median | |
Quality | 82 | 22.3% | 4.5% | Top tier | |
Safety | 74 | — | 2.6x | Top tier | |
Capital Return | 78 | 1.98% | 2.12% | Top tier | |
Momentum | 97 | 56.6% | 2.9% | Top tier | |
Sentiment | 38 | 4 | 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.
Teekay Tankers Ltd. operates a fleet of midsize oil tankers, particularly Suezmax and Aframax/LR2 tankers, and generates revenue from vessel operations and maritime cargo transportation. A significant portion of its profitability depends on the spot market, so its cash flows rise sharply when daily charter rates increase, while a free cash flow breakeven level of approximately $9,700 per day during the twelve months following the July 30, 2026 call limits the impact of operating costs. The company is also executing a fleet renewal strategy by selling older vessels and redeploying capital into newer vessels.
In Q2 fiscal 2026, Teekay Tankers reported GAAP net income of $226 million, or $6.49 per share, and adjusted net income of $194 million, or $5.56 per share, up 50% from the previous quarter and reaching the highest adjusted quarterly level in its history. The average spot rate was $109 thousand per day for Suezmax tankers and $74.1 thousand per day for Aframax/LR2 tankers, while the combined average for its midsize tankers was approximately $91 thousand per day; it also generated nearly $200 million in operating free cash flow. The operating mix reflects significant exposure to the spot market, while the sale of a Suezmax tanker built in 2009 contributed an accounting gain of $32.3 million to reported net income.
In fiscal 2025, revenue was $951.8 million and gross profit was $634.4 million, equivalent to a calculated gross profit margin of approximately 66.7%, while net income was $351.2 million and earnings per share were $10.10. These results compare with revenue of $1.2 billion and net income of $403.7 million in fiscal 2024, and revenue of $1.5 billion and net income of $519.9 million in fiscal 2023, highlighting the role of the tanker rate cycle in annual earnings volatility.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy” with an average target of $86, with both the highest and lowest targets matching at $86; this match means the data show no dispersion among estimates and may reflect a limited number of targets. The target is below the 52-week range high of $94.44 and above its low of $47.18, while no price-to-earnings ratio is available in the data, so the balance-sheet strength and record Q2 fiscal 2026 earnings should be weighed against the cyclicality of tanker rates and the expansion of the vessel orderbook through 2030.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
Reported net income was $226 million, or $6.49 per share, in Q2 fiscal 2026, while adjusted net income was $194 million, or $5.56 per share. Adjusted earnings rose 50% from the previous quarter and reached the highest quarterly level in the company's history. The primary driver was average spot rates of $109 thousand per day for Suezmax tankers and $74.1 thousand per day for Aframax/LR2 tankers, in addition to a $32.3 million gain from the sale of a Suezmax tanker built in 2009 included in reported earnings.
Sensitivity is high because the majority of vessels operate in the spot market, according to management's July 30, 2026 presentation. Midsize tankers averaged approximately $91 thousand per day in Q2 fiscal 2026, compared with a free cash flow breakeven point of approximately $9,700 per day during the following twelve months. This spread resulted in nearly $200 million of operating free cash flow during the quarter, but it also means that falling rates can quickly pressure earnings.
The company ended Q2 fiscal 2026 with more than $1.2 billion in cash and no debt, and an August 16, 2026 report cited liquidity of $1.3 billion. During the twelve months ended July 30, 2026, it sold nine older vessels for $369.5 million with combined gains of $125 million. In return, it purchased or committed to purchase seven newer vessels for approximately $427 million, including two new Suezmax tankers valued at $190 million that are expected to be delivered in 2027.
As of July 30, 2026, the company had fixed rates of $105 thousand per day for Suezmax tankers and $59.9 thousand per day for Aframax/LR2 tankers for approximately 44% of spot days in Q3 fiscal 2026. Suezmax rates remained near record levels, while Aframax regained strength in July after weakening in the middle of the previous quarter. However, management expected 260 days of downtime due to dry-docking work, and the outcome for unfixed days will remain tied to spot market movements.
Disruptions in the Strait of Hormuz, the Red Sea, and the Black Sea through July 30, 2026 redirected supplies toward ports such as Yanbu and Fujairah, lengthened voyages, and increased trade-flow inefficiencies, factors that supported spot tanker rates. Conversely, management said the company did not enter the Strait of Hormuz or sail south through the Red Sea because it did not consider the routes safe for its crews and vessels. Therefore, the disruptions act as both a rate catalyst and an operational risk, and their net effect cannot be assumed to remain positive.
The first risk is a decline in spot market rates from record levels, particularly as annual revenue fell from $1.5 billion in fiscal 2023 to $951.8 million in fiscal 2025. The second is the expansion of the tanker orderbook through 2030 while scrapping remains limited, which could increase vessel supply. Other risks include weak Chinese imports, the scheduled 260 days of downtime in Q3 fiscal 2026, and security restrictions on navigation in the Strait of Hormuz, the Red Sea, and the Black Sea.
