NYSE : INSW
International Seaways, Inc. — Financial statements
Energy · Oil & Gas Midstream · United States
Last price 113.6 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 5.63B
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Financial statements
International Seaways, Inc. (INSW) reported revenue of 1.26B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.26B | 843.30M | 951.61M | 1.07B | 864.66M | 272.55M |
| Cost of Revenue | 346.88M | 323.09M | 324.01M | 315.20M | 283.76M | 223.68M |
| Gross Profit | 914.49M | 520.21M | 627.60M | 756.58M | 580.90M | 48.87M |
| Selling, General & Admin | 51.78M | 51.27M | 53.16M | 46.96M | 45.70M | 32.57M |
| Other Operating Expenses | 1.27M | 1.22M | 2.82M | |||
| Operating Expenses | 215.84M | 216.08M | 205.42M | 176.00M | 156.09M | 119.24M |
| Operating Income | 698.64M | 304.13M | 422.18M | 580.58M | 424.81M | -70.37M |
| Interest Expense | -40.19M | -41.88M | -48.92M | -65.76M | -57.72M | -36.80M |
| Interest & Investment Income | 10.46M | 7.61M | 9.92M | 13.96M | 3.65M | 104.00K |
| Earnings From Equity Investments | 3.92M | 714.00K | 21.84M | |||
| Other Non Operating Income (Expenses) | 849.00K | 849.00K | -31.00K | 188.00K | -702.00K | -140.00K |
| EBT Excluding Unusual Items | 673.69M | 270.71M | 383.15M | 528.97M | 370.76M | -85.37M |
| Merger & Restructuring Charges | -50.74M | |||||
| Gain (Loss) on Sale of Assets | 109.42M | 42.54M | 32.66M | 35.93M | 19.65M | 9.75M |
| Other Unusual Items | -4.39M | -4.39M | -168.00K | -4.58M | -2.42M | -6.69M |
| Pretax Income | 778.71M | 308.85M | 415.64M | 560.32M | 387.98M | -133.04M |
| Income Tax Expense | -412.00K | -411.00K | -1.08M | 3.88M | 88.00K | 1.62M |
| Earnings From Continuing Operations | 779.12M | 309.26M | 416.72M | 556.45M | 387.89M | -134.66M |
| Minority Interest in Earnings | 1.17M | |||||
| Net Income | 779.12M | 309.26M | 416.72M | 556.45M | 387.89M | -133.49M |
| Preferred Dividends & Other Adjustments | 345.00K | 154.00K | 178.00K | 403.00K | 490.00K | 153.00K |
| Net Income to Common | 778.77M | 309.11M | 416.55M | 556.04M | 387.40M | -133.65M |
| Shares Outstanding (Basic) | 49.41M | 49.34M | 49.27M | 48.98M | 49.38M | 38.41M |
| Shares Outstanding (Diluted) | 49.76M | 49.60M | 49.68M | 49.43M | 49.84M | 38.41M |
| EPS (Basic) | 15.76 | 6.27 | 8.45 | 11.35 | 7.85 | -3.48 |
| EPS (Diluted) | 15.65 | 6.23 | 8.38 | 11.25 | 7.77 | -3.48 |
| Free Cash Flow | 269.32M | 38.13M | 266.96M | 481.77M | 171.12M | -155.21M |
| Free Cash Flow Per Share | 5.41 | 0.77 | 5.37 | 9.75 | 3.43 | -4.04 |
| Dividend Per Share | 0.48 | 0.48 | 0.48 | 0.48 | 0.42 | 0.24 |
| Gross Margin | 72.50% | 61.69% | 65.95% | 70.59% | 67.18% | 17.93% |
| Operating Margin | 55.39% | 36.07% | 44.37% | 54.17% | 49.13% | -25.82% |
| Profit Margin | 61.74% | 36.65% | 43.77% | 51.88% | 44.80% | -49.04% |
| Free Cash Flow Margin | 21.35% | 4.52% | 28.05% | 44.95% | 19.79% | -56.95% |
| EBITDA | 810.69M | 416.98M | 532.23M | 680.83M | 516.23M | 4.16M |
| EBITDA Margin | 64.27% | 49.45% | 55.93% | 63.52% | 59.70% | 1.53% |
| D&A For EBITDA | 112.05M | 112.84M | 110.05M | 100.25M | 91.42M | 74.54M |
| EBIT | 698.64M | 304.13M | 422.18M | 580.58M | 424.81M | -70.37M |
| EBIT Margin | 55.39% | 36.07% | 44.37% | 54.17% | 49.13% | -25.82% |
| Effective Tax Rate | 0.69% | 0.02% | ||||
| Revenue as Reported | 843.30M | 843.30M | 951.61M | 1.07B | 864.66M | 272.55M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 159.40M | 116.92M | 157.51M | 126.76M | 243.74M | 97.88M |
| Short-Term Investments | 250.00M | 50.00M | 60.00M | 80.00M | ||
| Trading Asset Securities | 545.00K | 2.53M | 6.04M | 7.53M | ||
| Cash & Short-Term Investments | 409.40M | 167.47M | 160.04M | 192.80M | 331.28M | 97.88M |
| Accounts Receivable | 306.66M | 177.89M | 185.52M | 247.16M | 289.77M | 107.10M |
| Other Receivables | 28.23M | 13.70M | 13.32M | 13.34M | 12.04M | 5.65M |
| Receivables | 334.88M | 191.58M | 198.84M | 260.51M | 301.81M | 112.75M |
| Inventory | 24.91M | 611.00K | 1.88M | 1.33M | 531.00K | 2.11M |
| Prepaid Expenses | 11.28M | 6.08M | 15.57M | 10.34M | 8.99M | 11.76M |
| Other Current Assets | 2.80M | 1.30M | ||||
| Total Current Assets | 783.27M | 367.05M | 376.32M | 464.98M | 642.62M | 224.50M |
| Property, Plant & Equipment | 2.19B | 2.25B | 2.20B | 2.02B | 1.92B | 1.93B |
| Long-Term Investments | 5.00K | 801.00K | 1.15M | 4.66M | 181.63M | |
| Long-Term Deferred Charges | 10.50M | 12.60M | 11.20M | 4.50M | 6.90M | 3.70M |
| Other Long-Term Assets | 23.95M | 36.80M | 49.40M | 33.82M | 38.73M | 5.89M |
| Total Assets | 3.02B | 2.67B | 2.64B | 2.52B | 2.62B | 2.35B |
| Accounts Payable | 82.73M | 1.66M | 5.83M | 6.57M | 1.83M | 1.61M |
| Accrued Expenses | 47.37M | 42.75M | 37.13M | 42.09M | 35.91M | |
| Current Portion of Long-Term Debt | 39.20M | 25.79M | 50.05M | 127.45M | 162.85M | 181.25M |
| Current Portion of Leases | 1.33M | 3.18M | 14.62M | 10.22M | 43.47M | 8.39M |
| Current Income Taxes Payable | 53.00K | |||||
| Current Unearned Revenue | 5.98M | 7.83M | 6.24M | 2.96M | 353.00K | |
| Other Current Liabilities | 8.50M | 14.92M | 9.85M | 7.96M | 4.19M | 7.04M |
| Total Current Liabilities | 131.77M | 98.89M | 130.94M | 195.57M | 257.39M | 234.61M |
| Long-Term Debt | 373.25M | 297.90M | 94.53M | 3.56M | 346.81M | 483.07M |
| Long-Term Leases | 238.98M | 249.34M | 552.54M | 603.29M | 521.51M | 456.48M |
| Pension & Post-Retirement Benefits | 88.00K | 41.00K | 173.00K | |||
| Other Long-Term Liabilities | 9.61M | 2.14M | 2.31M | 2.46M | 1.88M | 2.29M |
| Total Liabilities | 753.61M | 648.37M | 780.35M | 805.06M | 1.13B | 1.18B |
| Common Stock | 1.50B | 1.51B | 1.50B | 1.49B | 1.50B | 1.59B |
| Retained Earnings | 773.11M | 523.79M | 359.14M | 226.83M | -21.45M | -409.34M |
| Comprehensive Income & Other | -11.33M | -10.84M | -7.86M | -1.06M | 6.96M | -12.36M |
| Total Common Equity | 2.27B | 2.02B | 1.86B | 1.72B | 1.49B | 1.17B |
| Minority Interest | 584.00K | |||||
| Shareholders' Equity | 2.27B | 2.02B | 1.86B | 1.72B | 1.49B | 1.17B |
| Total Liabilities & Equity | 3.02B | 2.67B | 2.64B | 2.52B | 2.62B | 2.35B |
| Total Debt | 652.77M | 576.22M | 711.74M | 744.53M | 1.07B | 1.13B |
| Net Cash (Debt) | -243.37M | -408.75M | -551.70M | -551.73M | -743.36M | -1.03B |
| Net Cash Per Share | -4.89 | -8.24 | -11.11 | -11.16 | -14.91 | -26.85 |
| Filing Date Shares Outstanding | 49.53M | 49.43M | 49.19M | 48.93M | 49.12M | 49.60M |
| Total Common Shares Outstanding | 49.52M | 49.40M | 49.19M | 48.93M | 49.12M | 49.61M |
| Working Capital | 651.50M | 268.15M | 245.39M | 269.41M | 385.23M | -10.11M |
| Book Value Per Share | 45.75 | 40.89 | 37.73 | 35.09 | 30.29 | 23.58 |
| Tangible Book Value | 2.26B | 2.02B | 1.86B | 1.72B | 1.49B | 1.17B |
| Tangible Book Value Per Share | 45.60 | 40.89 | 37.73 | 35.09 | 30.29 | 23.58 |
| Machinery | 2.57B | 2.51B | 2.33B | 2.00B | 2.04B | |
| Construction In Progress | 51.57M | 57.73M | 37.02M | 11.67M | 123.94M | 49.29M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 779.12M | 309.26M | 416.72M | 556.45M | 387.89M | -133.49M |
| Depreciation & Amortization | 112.05M | 112.84M | 110.05M | 100.25M | 91.42M | 74.54M |
| Other Amortization | 57.48M | 56.77M | 43.50M | 37.10M | 26.30M | 18.99M |
| Loss (Gain) From Sale of Assets | -109.42M | -42.54M | -41.36M | -35.93M | -21.34M | -13.25M |
| Asset Writedown & Restructuring Costs | 8.70M | 1.70M | 3.50M | |||
| Loss (Gain) From Sale of Investments | 9.51M | |||||
| Loss (Gain) on Equity Investments | -3.92M | -7.19M | -12.00M | |||
| Stock-Based Compensation | 7.94M | 8.70M | 9.00M | 8.52M | 6.75M | 10.53M |
| Other Operating Activities | -72.13M | -81.25M | -58.12M | -32.60M | -40.27M | -3.25M |
| Change in Accounts Receivable | -156.45M | 7.63M | 61.64M | 42.61M | -182.68M | -16.47M |
| Change in Inventory | 18.27M | 10.49M | -942.00K | 8.73M | 13.10M | -3.64M |
| Change in Unearned Revenue | 137.00K | -1.86M | 1.59M | 3.28M | 2.61M | -1.64M |
| Change in Other Net Operating Assets | -3.65M | |||||
| Operating Cash Flow | 633.07M | 380.05M | 547.14M | 688.40M | 287.80M | -76.19M |
| Capital Expenditures | -363.75M | -341.92M | -280.18M | -206.63M | -116.69M | -79.01M |
| Sale of Property, Plant & Equipment | 325.47M | 246.26M | 71.89M | 66.00M | 99.16M | 165.81M |
| Cash Acquisitions | 54.05M | |||||
| Investment in Securities | -254.49M | -50.00M | 60.00M | 20.00M | 58.97M | |
| Other Investing Activities | -400.00K | 4.35M | -6.73M | -3.64M | 1.36M | -7.55M |
| Investing Cash Flow | -293.17M | -141.31M | -155.02M | -124.27M | 42.80M | 133.29M |
| Long-Term Debt Issued | 411.49M | 120.00M | 219.72M | 749.05M | 530.80M | |
| Long-Term Debt Repaid | -528.09M | -159.15M | -568.01M | -837.98M | -624.95M | |
| Net Debt Issued (Repaid) | 106.27M | -116.59M | -39.15M | -348.30M | -88.92M | -94.15M |
| Repurchase of Common Stock | -8.07M | -6.14M | -32.05M | -19.77M | -26.11M | -17.79M |
| Common Dividends Paid | -343.61M | -23.69M | -23.66M | -23.52M | -20.66M | -9.44M |
| Other Financing Activities | -15.25M | -11.98M | -5.76M | -4.90M | -909.00K | -20.96M |
| Financing Cash Flow | -329.30M | -279.32M | -361.38M | -681.12M | -185.79M | -173.84M |
| Net Cash Flow | 10.59M | -40.58M | 30.75M | -116.98M | 144.81M | -116.74M |
| Free Cash Flow | 269.32M | 38.13M | 266.96M | 481.77M | 171.12M | -155.21M |
| Free Cash Flow Margin | 21.35% | 4.52% | 28.05% | 44.95% | 19.79% | -56.95% |
| Free Cash Flow Per Share | 5.41 | 0.77 | 5.37 | 9.75 | 3.43 | -4.04 |
| Levered Free Cash Flow | 69.65M | 20.66M | 179.92M | 306.99M | 58.60M | -97.59M |
| Unlevered Free Cash Flow | 88.03M | 40.81M | 206.38M | 339.78M | 88.18M | -79.02M |
| Cash Interest Paid | 36.67M | 36.97M | 44.59M | 66.43M | 53.89M | 34.77M |
| Change in Working Capital | -138.04M | 16.27M | 58.64M | 54.63M | -166.97M | -21.75M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.55B | 2.40B | 1.77B | 2.22B | 1.82B | 744.12M |
| Enterprise Value | 5.79B | 2.79B | 2.28B | 2.87B | 2.64B | 1.82B |
| Last Close Price | 111.95 | 42.35 | 29.21 | 32.77 | 22.92 | 8.73 |
| PE Ratio | 7.15 | 7.76 | 4.24 | 4.00 | 4.69 | |
| Forward PE | 4.57 | 8.65 | 5.54 | 5.87 | 5.05 | 7.75 |
| PS Ratio | 4.40 | 2.84 | 1.86 | 2.08 | 2.10 | 2.73 |
| PB Ratio | 2.45 | 1.19 | 0.95 | 1.30 | 1.22 | 0.64 |
| P/TBV Ratio | 2.46 | 1.19 | 0.95 | 1.30 | 1.22 | 0.64 |
| P/FCF Ratio | 20.59 | 62.90 | 6.62 | 4.62 | 10.62 | |
| P/OCF Ratio | 8.76 | 6.31 | 3.23 | 3.23 | 6.31 | |
| EV/Sales Ratio | 4.59 | 3.31 | 2.39 | 2.68 | 3.06 | 6.66 |
| EV/EBITDA Ratio | 7.14 | 6.69 | 4.28 | 4.21 | 5.12 | 436.05 |
| EV/EBIT Ratio | 8.29 | 9.17 | 5.39 | 4.94 | 6.22 | |
| EV/FCF Ratio | 21.49 | 73.14 | 8.53 | 5.96 | 15.44 | |
| Debt / Equity Ratio | 0.29 | 0.28 | 0.38 | 0.43 | 0.72 | 0.96 |
| Debt / EBITDA Ratio | 0.77 | 1.28 | 1.26 | 1.03 | 1.96 | 38.22 |
| Debt / FCF Ratio | 2.42 | 15.11 | 2.67 | 1.54 | 6.28 | |
| Net Debt / Equity Ratio | 0.11 | 0.20 | 0.30 | 0.32 | 0.50 | 0.88 |
| Net Debt / EBITDA Ratio | 0.30 | 0.98 | 1.04 | 0.81 | 1.44 | 247.73 |
| Net Debt / FCF Ratio | 0.90 | 10.72 | 2.07 | 1.15 | 4.34 | -6.64 |
| Asset Turnover | 0.46 | 0.32 | 0.37 | 0.42 | 0.35 | 0.14 |
| Inventory Turnover | 27.27 | 259.93 | 202.25 | 338.92 | 214.89 | 78.33 |
| Quick Ratio | 5.65 | 3.63 | 2.74 | 2.32 | 2.46 | 0.90 |
| Current Ratio | 5.94 | 3.71 | 2.87 | 2.38 | 2.50 | 0.96 |
| Return on Equity (ROE) | 37.41% | 15.96% | 23.33% | 34.73% | 29.19% | -12.57% |
| Return on Assets (ROA) | 15.76% | 7.17% | 10.23% | 14.13% | 10.70% | -2.24% |
| Return on Invested Capital (ROIC) | 28.31% | 12.58% | 18.06% | 25.63% | 19.16% | -3.96% |
| Return on Capital Employed (ROCE) | 24.20% | 11.80% | 16.90% | 25.00% | 18.00% | -3.30% |
| Earnings Yield | 13.98% | 12.89% | 23.57% | 25.02% | 21.35% | -17.94% |
| FCF Yield | 4.86% | 1.59% | 15.10% | 21.66% | 9.42% | -20.86% |
| Dividend Yield | 11.26% | 0.99% | 1.34% | 1.06% | 1.14% | 1.60% |
| Payout Ratio | 80.59% | 7.66% | 5.68% | 4.23% | 5.33% | |
| Buyback Yield / Dilution | -0.20% | 0.17% | -0.51% | 0.83% | -29.78% | -35.37% |
| Total Shareholder Return | 11.06% | 1.16% | 0.83% | 1.89% | -28.65% | -33.77% |