Tsakos Energy Navigation Limited
- Open
- 39.30
- Day high
- 39.95
- Day low
- 38.59
- Prev close
- 38.86
- Volume
- 40K
- Mkt cap
- $1.2B
- P/E (TTM)
- 6.5
- EPS (TTM)
- $6.15
- P/B
- 0.6
- P/S
- 1.4
- Yield
- 1.25%
- Per share
- $0.50
- ▲Insiders net buying $399K over the last 3 months (1 open-market buy, 1 sale)
- 🏛Institutions accumulating (13F)
Tsakos Energy Navigation Limited (TEN) is a Energy company listed on NYSE. The stock is up 106% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 1 sale (SEC Form 4).
Tsakos Energy Navigation Limited (TEN) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TEN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 21, 2026 | $2.07 | $2.72 | +31.4% | $223M | +6.9% |
| Mar 6, 2026 | $1.07 | $1.70 | +58.9% | $222M | +2.8% |
| Nov 20, 2025 | $0.77 | $1.05 | +36.4% | $186M | +14.4% |
| Sep 10, 2025 | $0.59 | $0.67 | +13.6% | $193M | +24.4% |
| Mar 27, 2025 | $0.40 | $0.42 | +5.0% | $188M | +21.9% |
| Nov 26, 2024 | $0.79 | $0.67 | -15.2% | $200M | +25.1% |
| Sep 11, 2024 | $1.19 | $1.26 | +5.9% | $214M | +38.6% |
| Nov 22, 2022 | $2.16 | $1.48 | -31.5% | $224M | +19.7% |
| Sep 14, 2022 | $1.53 | $1.31 | -14.4% | $217M | +33.2% |
| Apr 14, 2022 | — | $-1.11 | — | $150M | — |
| Feb 23, 2022 | $0.16 | $-0.11 | -168.8% | $139M | -96.7% |
| Oct 7, 2021 | $0.15 | $-1.18 | -886.7% | $132M | -96.9% |
TEN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 16, 2026 | Tommasino Nicholas Francisdirector | Sell | 2,490 | $40.06 |
| Apr 30, 2026 | TSAKOS NIKOLAOSdirector, officer: Chief Executive Officer | Buy | 12,500 | $39.92 |
| Nov 21, 2022 | SABATINO THOMAS J JRofficer: Executive Vice President* | Grant | 182,850 | — |
| Nov 21, 2022 | Masanovich Mattiofficer: Executive Vice President* | Grant | 319,329 | — |
| Nov 21, 2022 | Baird Kevinofficer: Executive Vice President* | Grant | 340,339 | — |
| Nov 21, 2022 | Bowen Nathan P.officer: Executive Vice President* | Grant | 24,586 | — |
| Nov 21, 2022 | Patouhas Johnofficer: Vice President* | Grant | 51,052 | — |
| Nov 21, 2022 | Jueckstock Rainerofficer: Executive Vice President | Grant | 246,748 | — |
| Nov 21, 2022 | Wehrenberg John W.officer: Executive Vice President* | Grant | 109,413 | — |
| Nov 21, 2022 | Usitalo Scottofficer: Executive Vice President | Grant | 179,212 | — |
| Nov 21, 2022 | Kesseler Brian Jofficer: Chief Executive Officer | Grant | 1,267,231 | — |
| Nov 21, 2022 | Awada Kaledofficer: Executive Vice President* | Grant | 168,928 | — |
| Nov 2, 2022 | Wehrenberg John W.officer: Executive Vice President* | Option | 19,797 | — |
| Nov 2, 2022 | Usitalo Scottofficer: Executive Vice President | Option | 28,281 | — |
| Nov 2, 2022 | Awada Kaledofficer: Executive Vice President* | Option | 56,561 | — |
Source: TEN SEC Form 4 filings, latest Jul 16, 2026. For informational purposes only — not investment advice.
See the full TEN insider & 13F page →Tsakos Energy Navigation Limited company profile
Overview
Tsakos Energy Navigation Limited (NYSE:TEN) is a Greece-based international shipping company that has been providing seaborne transportation services for crude oil and petroleum products since its incorporation in 1993. The company went public on the New York Stock Exchange in March 2002, transitioning from its former name MIF Limited. Founded and controlled by the Tsakos family, TEN has grown from a modest fleet operator into one of the world's prominent tanker shipping companies, operating a modern fleet of over 80 vessels that transport energy commodities for major oil companies, refiners, and national oil companies across global trade routes.
Business
Tsakos Energy Navigation operates in the **oil and gas midstream sector**, specifically focusing on **marine transportation of energy commodities**. The company's core business revolves around providing seaborne shipping services for crude oil, refined petroleum products, and liquefied natural gas (LNG) using a diversified fleet of specialized tanker vessels. The company operates several distinct vessel categories that serve different segments of the energy transportation market. **Crude oil tankers**, including Aframax and Suezmax vessels, form the backbone of the fleet and transport unrefined petroleum from production regions to refineries worldwide. These vessels typically range from 80,000 to 160,000 deadweight tons and are designed with double-hull construction for enhanced safety and environmental protection. **Product tankers**, including Long Range (LR1) vessels, transport refined petroleum products such as gasoline, diesel, and jet fuel from refineries to distribution terminals. **LNG carriers** represent the company's expansion into the growing natural gas transportation market, equipped with specialized containment systems to transport liquefied natural gas at extremely low temperatures. The newest addition to TEN's portfolio includes **DP2 shuttle tankers**, sophisticated vessels equipped with dynamic positioning systems that can maintain precise positioning without anchoring, primarily used for offshore oil loading operations. The company's fleet composition reflects a strategic focus on modern, environmentally compliant vessels, with approximately 90-95% of the fleet consisting of Korean and Japanese-built ships known for their quality and reliability. TEN has positioned itself as the largest operator of dual-fuel vessels among its peer group, reflecting its commitment to environmental sustainability and compliance with increasingly stringent maritime emissions regulations.
Revenue model
Tsakos Energy Navigation generates revenue primarily through **time charter contracts** and **spot market operations** for its tanker fleet. The company employs a mixed revenue model where approximately 82% of revenues come from secured long-term contracts, while the remaining portion is exposed to spot market rates that fluctuate with supply and demand dynamics. **Time charter contracts** represent the stable foundation of TEN's business model, where vessels are leased to oil companies, refiners, and trading houses for predetermined periods ranging from several months to multiple years at fixed daily rates. These contracts provide predictable cash flows and reduce exposure to volatile spot market rates. The company's blue-chip client base includes major integrated oil companies such as ExxonMobil, Equinor, Chevron, and Total, as well as national oil companies like Brazil's Petrobras. The recent landmark deal with Transpetro/Petrobras for nine DP2 shuttle tankers worth $1.3 billion exemplifies this strategy, providing long-term contracted revenue streams. **Spot market operations** expose approximately 48% of the fleet to prevailing market rates, allowing TEN to capitalize on favorable market conditions when tanker demand exceeds supply. Spot rates are influenced by seasonal demand patterns, geopolitical events affecting oil trade flows, refinery maintenance schedules, and the overall balance between tanker supply and cargo demand. Several factors significantly impact the company's profitability margins. **Positive margin drivers** include oil demand growth (expected at 1 million barrels per day globally), an aging global tanker fleet (44% of vessels over 15 years old), low newbuilding order books creating supply constraints, geopolitical tensions that can disrupt shipping routes and increase demand for longer-haul voyages, and environmental regulations that favor modern, compliant vessels over older tonnage. **Negative margin pressures** stem from economic slowdowns reducing oil demand, new vessel deliveries increasing supply, high fuel costs (bunker prices), port congestion affecting vessel utilization, and potential oversupply in specific vessel segments during market downturns.
Risks & safety
**Overall Assessment**: TEN demonstrates solid financial stability with strong cash reserves but faces elevated capital expenditure requirements that impact near-term cash generation. **Cash and Liquidity Position**: - Cash and short-term investments: $343 million as of Q4 2024 - Strong liquidity position supporting operational flexibility - Current ratio of 1.11, indicating adequate short-term liquidity coverage **Debt and Solvency**: - Net debt-to-capital ratio: 45% (management target range) - Debt-to-equity ratio: 0.79, representing moderate leverage - Total liabilities: $1.94 billion against total assets of $3.71 billion - No immediate solvency concerns given asset base and cash position **Valuation Metrics**: - Price-to-earnings ratio: 6.6x (based on recent earnings) - Price-to-book ratio: 0.30x (trading below book value) - EV/EBITDA: 6.5x (reasonable for cyclical shipping company) - Graham number suggests potential undervaluation at current price levels **Other Considerations**: - Negative free cash flow of -$562 million in Q4 2024 due to heavy capital expenditures for fleet expansion - Strong operational cash flow of $308 million for full year 2024 - Dividend yield approximately 7.5% with management commitment to maintaining payments - Asset-heavy business model provides tangible value backing but subject to vessel valuation cycles
Recent development
Over the past several years, Tsakos Energy Navigation has executed a comprehensive **fleet modernization and expansion strategy** that has fundamentally transformed the company's scale and market position. The most significant development has been the company's aggressive newbuilding program, expanding from 62 operating vessels to a total fleet of 82 vessels through the acquisition of 21 new vessels since January 2023. This expansion represents a strategic shift toward larger scale and modern, environmentally compliant tonnage. The **landmark $1.3 billion shuttle tanker contract** with Brazil's Transpetro/Petrobras marks TEN's entry into the specialized offshore transportation segment, adding nine DP2 shuttle tankers equipped with dynamic positioning systems. This deal doubled the company's medium to long-term contracted receivables from $2 billion to $4 billion, significantly enhancing revenue visibility and cash flow predictability. **Environmental sustainability initiatives** have become central to TEN's strategy, with the company positioning itself as the largest dual-fuel vessel operator among its peers. The fleet renewal program has focused on acquiring LNG dual-fuel Aframax vessels and other environmentally advanced tonnage, preparing for stricter maritime emission regulations while potentially gaining competitive advantages over operators with older, less compliant fleets. The company has also invested in **vertical integration** through the establishment of its own private naval academy in Greece, the first of its kind in the country. This initiative addresses crew training and retention challenges while potentially reducing operating costs and improving service quality compared to relying on third-party manning services. **Financial strategy evolution** has included a 50% dividend increase, reflecting management's confidence in the enhanced earnings capacity from the expanded fleet and contracted revenue base. The company has maintained its policy of rewarding shareholders through dividends rather than share buybacks, while preserving financial flexibility for continued fleet investment opportunities.
TEN company profile · for informational purposes only — not investment advice.
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