TEN-PE

MKT CAP:$787M

Tsakos Energy Navigation Limited

Market Cap

$787M

Energy·Oil & Gas Midstream· Greece·NYSE

Energy·Oil & Gas Midstream·NYSE

Stock Price

$26.30-$0.01 (-0.02%)

Apr 17, 2026

Company Details

Tsakos 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 un...

CEO

Nikolas Tsakos

IPO Date

Mar 30, 2017

Website

www.tenn.gr

Key Metrics TTM

Revenue

$825M

-0.6% YoY

Net Income

$180M

EPS (Diluted)

$5.14

Free Cash Flow

$0

Revenue / Share

$27.65

Gross Margin

67.6%

Operating Margin

34.4%

Net Margin

21.9%

FCF Margin

0.0%

P/S

1.0x

P/E

4.4x

Earnings Reports

FY 2025

Dec 30, 2025

$799MEPS $4.45

Q4 2025

Dec 30, 2025

$222M+18.0%EPS $1.70

Q4 2024

Dec 31, 2024

$188M-14.5%EPS $0.41

Q3 2024

Sep 30, 2024

$200M+7.2%EPS $0.67

Q2 2024

Jun 30, 2024

$214M-3.3%EPS $2.36

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$136M	$556.0K	-$13M
Q3 21	$132M	-$9M	-$16M
Q4 21	$139M	$711.0K	-$93M
Q1 22	$150M	$16M	$10M
Q2 22	$217M	$64M	$57M
Q3 22	$224M	$76M	$67M
Q4 22	$270M	$130M	$122M
Q1 23	$261M	$125M	$199M
Q2 23	$221M	$95M	$83M
Q3 23	$187M	$59M	$53M
Q4 23	$220M	$91M	$57M
Q1 24	$202M	$67M	$76M
Q2 24	$214M	$78M	$103M
Q3 24	$200M	$200M	$57M
Q4 24	$188M	$188M	$42M
Q4 25	$222M	$91M	$81M

Valuation

Quarter	P/S	P/E
Q2 21	1.4x	—
Q3 21	1.3x	—
Q4 21	1.3x	—
Q1 22	1.3x	—
Q2 22	1.1x	—
Q3 22	1.0x	596.6x
Q4 22	0.8x	3.5x
Q1 23	0.7x	1.9x
Q2 23	0.8x	1.9x
Q3 23	0.8x	2.0x
Q4 23	0.9x	2.6x
Q1 24	0.9x	4.4x
Q2 24	1.0x	4.1x
Q3 24	0.9x	4.2x
Q4 24	1.0x	4.4x
Q4 25	1.2x	5.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	$12M	$0
Q2 21	$18M	$0
Q3 21	$5M	$0
Q4 21	$17M	$0
Q1 22	$24M	$0
Q2 22	$49M	$0
Q3 22	$9M	$0
Q4 22	$200M	$0
Q1 23	$115M	$0
Q2 23	$141M	$0
Q3 23	$47M	$0
Q4 23	$88M	$0
Q1 24	$75M	$0
Q2 24	$81M	$0
Q3 24	$63M	$0
Q4 24	$83M	$0

Capital Expenditures

Quarter	CapEx
Q1 21	$12M
Q2 21	$18M
Q3 21	$5M
Q4 21	$17M
Q1 22	$24M
Q2 22	$49M
Q3 22	$9M
Q4 22	$200M
Q1 23	$115M
Q2 23	$141M
Q3 23	$47M
Q4 23	$88M
Q1 24	$75M
Q2 24	$81M
Q3 24	$63M
Q4 24	$83M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	-23.7%	+20.3%
Q3 21	-7.9%	+15.8%
Q4 21	+5.7%	+52.9%
Q1 22	+7.7%	+2.4%
Q2 22	+58.9%	+6.7%
Q3 22	+70.1%	+6.0%
Q4 22	+94.2%	-36.3%
Q1 23	+74.5%	-55.7%
Q2 23	+2.2%	-12.8%
Q3 23	-16.6%	-14.7%
Q4 23	-18.5%	+10.6%
Q1 24	-22.8%	+102.0%
Q2 24	-3.3%	-20.0%
Q3 24	+7.2%	+7.1%
Q4 24	-14.5%	-10.8%
Q4 25	+10.2%	+12.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$0	0.0%
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%

OpEx Breakdown

Quarter	G&A	SG&A
Q2 21	$8M	—
Q3 21	$7M	—
Q4 21	$7M	—
Q1 22	$7M	—
Q2 22	$7M	—
Q3 22	$8M	—
Q4 22	$8M	—
Q1 23	$7M	—
Q2 23	$12M	—
Q3 23	$6M	—
Q4 23	$8M	—
Q1 24	$7M	—
Q2 24	$8M	—
Q3 24	$14M	—
Q4 24	$16M	—
Q4 25	—	$10M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 21	$129M	$0	$129M
Q3 21	$116M	$0	$116M
Q4 21	$117M	$0	$117M
Q1 22	$143M	$0	$143M
Q2 22	$161M	$0	$161M
Q3 22	$201M	$0	$201M
Q4 22	$304M	$0	$304M
Q1 23	$476M	$0	$476M
Q2 23	$529M	$0	$529M
Q3 23	$394M	$0	$394M
Q4 23	$372M	$0	$372M
Q1 24	$344M	$0	$344M
Q2 24	$377M	$95M	$472M
Q3 24	$0	$0	$0
Q4 24	$343M	$0	$343M
Q2 25	$282M	$0	$282M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	0	—	—
Q3 21	0	—	—
Q4 21	0	—	—
Q1 22	0	—	—
Q2 22	0	—	—
Q3 22	0	—	—
Q4 22	0	—	—
Q1 23	0	—	—
Q2 23	0	—	—
Q3 23	0	—	—
Q4 23	0	—	—
Q1 24	30M	—	—
Q2 24	30M	0.0%	—
Q3 24	30M	+0.4%	—
Q4 24	30M	+0.1%	—
Q4 25	30M	+0.6%	+1.1%

Shares Outstanding