TE
Tsakos Energy Navigation Ltd
TEN—
Tsakos Energy Navigation Ltd AI Insights
Informational only. Not investment advice.Snapshot
- Trading at 0.36x P/B vs book value of $60.30/share - 64% discount to tangible assets despite 26% operating margin TTM.[P/B Ratio]
- FCF of -360.8M TTM despite 289M operating cash flow - heavy fleet capex consuming all cash generation plus more.[Free Cash Flow TTM]
- Debt/equity of 1.06 with 98.6M interest expense TTM consuming 81% of operating income - high leverage risk.[Debt to Equity]
Watch Triggers
- Free Cash Flow TTM: Turns positive for 2 consecutive quarters — Signals capex cycle ending and debt reduction possible
- Interest Expense TTM: Exceeds 100M or operating income coverage falls below 1.5x — Current 2x coverage thin for cyclical shipper with volatile rates
- Total Revenue TTM: Stabilizes or returns to positive YoY growth — Confirms tanker rate environment improving vs continued decline
Bull Case
Extreme P/B discount of 0.36x with 26% operating margin and 16% net margin TTM - profitable operator priced for distress.
P/B RatioOperating Margin TTMNet Margin TTM
EPS growth of 22% YoY while revenue declined 7% shows cost discipline and operational leverage working.
EPS Growth 1YTotal Revenue 1Y Growth
Bear Case
Negative FCF of -361M TTM with 1.91B debt creates refinancing risk if tanker rates decline further.
Free Cash Flow TTMTotal DebtInterest Expense TTM
Revenue down 7% YoY and -6% 3Y CAGR with gross profit down 15% YoY - secular decline in core business.
Total Revenue 1Y GrowthTotal Revenue 3Y GrowthGross Profit 1Y Growth
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
40%
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Forward Thesis
Asset value realization likely as fleet investments mature and capex normalizes
1-3ymed
- P/B of 0.36x implies market expects 64% asset impairment
- PPE of 3.46B vs 1.91B debt leaves equity cushion
- Operating margin of 26% proves asset productivity
Tangible book 1.8B vs market cap 653MOperating income 201M TTM covers interest 2xEPS grew 22% YoY despite -7% revenue
Valuation Context
Caveats
Public Strategies Rankings
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TEN Fundamentals
Unknown Industry
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$806.54M | — | ||
$2.45B | — | ||
9.7 | — | ||
$764.85M | -8.5% | — | |
$2.80 | -30.2% | — | |
26.3% | -2.2% | — | |
16.0% | -6.6% | — | |
$-360.81M | — | ||
0.07 | -4.5% | — | |
Beta 5Y (Monthly) | unknown | — |
TEN Dividend History
62 dividends
2026
$0.500002/11/26$0.5000
2025
$1.100012/15/25$0.5000
07/14/25$0.6000
2024
$1.500012/16/24$0.9000
07/12/24$0.6000
2023
$1.000012/13/23$0.3000
10/19/23$0.4000
06/08/23$0.3000
2022
$0.250012/13/22$0.1500
07/13/22$0.1000
2021
$0.100007/13/21$0.1000
2020
$0.750012/15/20$0.1250
06/19/20$0.6250
2019
$0.500012/11/19$0.2500
05/23/19$0.2500
2018
$0.750011/29/18$0.2500
08/01/18$0.2500
05/02/18$0.2500
2017
$1.000012/20/17$0.2500
11/08/17$0.2500
07/07/17$0.2500
04/21/17$0.2500
2016
$1.450012/14/16$0.2500
11/02/16$0.4000
08/01/16$0.4000
03/28/16$0.4000
2015
$1.200012/07/15$0.3000
09/01/15$0.3000
05/19/15$0.3000
02/10/15$0.3000
2014
$0.750011/19/14$0.2500
08/07/14$0.2500
05/15/14$0.2500
2013
$0.750012/10/13$0.2500
09/05/13$0.2500
05/28/13$0.2500
2012
$2.500012/12/12$0.2500
09/05/12$0.7500
05/17/12$0.7500
02/07/12$0.7500
2011
$3.000011/22/11$0.7500
08/02/11$0.7500
04/19/11$0.7500
01/21/11$0.7500
2010
$3.000010/20/10$0.7500
07/08/10$0.7500
04/21/10$1.5000
2009
$5.750010/20/09$1.5000
04/22/09$4.2500
2008
$9.000010/21/08$4.5000
04/22/08$4.5000
2007
$7.875010/18/07$4.1250
04/12/07$3.7500
2006
$5.875010/18/06$3.1250
04/11/06$2.7500
2005
$4.875010/18/05$2.5000
04/13/05$2.3750
2004
$3.000010/18/04$1.7500
04/13/04$1.2500
2003
$1.750010/15/03$1.2500
04/10/03$0.5000
2002
$1.250010/11/02$1.2500
TEN Stock Splits
2 stock splits
07/01/205:1 split
11/15/070.5:1 split
TEN SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/21/25 | 09/30/25 | 6-K | |
09/30/25 | 06/30/25 | 6-K | |
06/25/25 | 03/31/25 | 6-K | |
04/11/25 | 12/31/24 | Unknown | |
12/03/24 | 09/30/24 | 6-K | |
10/08/24 | 06/30/24 | 6-K | |
06/24/24 | 03/31/24 | 6-K | |
04/19/24 | 12/31/23 | 20-F | |
11/24/23 | 09/30/23 | 6-K | |
09/21/23 | 06/30/23 | 6-K | |
08/04/23 | 03/31/23 | 6-K | |
04/06/23 | 12/31/22 | 20-F | |
11/23/22 | 09/30/22 | 6-K | |
09/30/22 | 06/30/22 | 6-K | |
07/01/22 | 03/31/22 | 6-K | |
04/28/22 | 12/31/21 | 20-F | |
12/17/21 | 09/30/21 | 6-K | |
10/26/21 | 06/30/21 | 6-K | |
07/02/21 | 03/31/21 | 6-K | |
04/16/21 | 12/31/20 | 20-F | |
12/04/20 | 09/30/20 | 6-K | |
10/09/20 | 06/30/20 | 6-K | |
07/31/20 | 03/31/20 | 6-K | |
04/14/20 | 12/31/19 | 20-F | |
11/26/19 | 09/30/19 | Quarterly | -- |
09/20/19 | 06/30/19 | 6-K | |
06/19/19 | 03/31/19 | 6-K | |
04/12/19 | 12/31/18 | 20-F | |
11/30/18 | 09/30/18 | Quarterly | -- |
10/05/18 | 06/30/18 | 6-K | |
06/18/18 | 03/31/18 | 6-K | |
04/27/18 | 12/31/17 | 20-F | |
11/30/17 | 09/30/17 | Quarterly | -- |
10/02/17 | 06/30/17 | 6-K | |
06/02/17 | 03/31/17 | 6-K | |
04/28/17 | 12/31/16 | 20-F | |
01/31/17 | 09/30/16 | 6-K | |
11/02/16 | 06/30/16 | 6-K | |
06/17/16 | 03/31/16 | 6-K | |
04/06/16 | 12/31/15 | 20-F | |
12/09/15 | 09/30/15 | 6-K | |
09/09/15 | 06/30/15 | 6-K | |
06/23/15 | 03/31/15 | 6-K | |
04/08/15 | 12/31/14 | 20-F | |
12/17/14 | 09/30/14 | 6-K | |
09/16/14 | 06/30/14 | 6-K | |
06/13/14 | 03/31/14 | 6-K | |
04/11/14 | 12/31/13 | 20-F | |
12/06/13 | 09/30/13 | 6-K | |
09/19/13 | 06/30/13 | 6-K | |
08/06/13 | 03/31/13 | 6-K | |
04/29/13 | 12/31/12 | 20-F | |
12/06/13 | 09/30/12 | 6-K | |
09/14/12 | 06/30/12 | 6-K | |
07/06/12 | 03/31/12 | 6-K | |
04/17/12 | 12/31/11 | 20-F | |
12/19/11 | 09/30/11 | 6-K | |
09/15/11 | 06/30/11 | 6-K | |
06/03/11 | 03/31/11 | 6-K | |
04/08/11 | 12/31/10 | 20-F | |
12/22/10 | 09/30/10 | 6-K | |
09/22/10 | 06/30/10 | 6-K | |
06/02/10 | 03/31/10 | 6-K | |
04/09/10 | 12/31/09 | 20-F | |
11/25/09 | 09/30/09 | 6-K | |
09/08/09 | 06/30/09 | 6-K | |
07/17/09 | 03/31/09 | 6-K | |
04/30/09 | 12/31/08 | 20-F | |
11/25/09 | 09/30/08 | 6-K | |
08/20/08 | 06/30/08 | 6-KQ | |
03/31/08 | 03/31/08 | Unknown | -- |
05/09/08 | 12/31/07 | 20-F | |
09/30/07 | 09/30/07 | Unknown | -- |
06/30/07 | 06/30/07 | Unknown | -- |
03/31/07 | 03/31/07 | Unknown | -- |
05/15/07 | 12/31/06 | 20-F | |
09/30/06 | 09/30/06 | Unknown | -- |
06/30/06 | 06/30/06 | Unknown | -- |
03/31/06 | 03/31/06 | Unknown | -- |
04/20/06 | 12/31/05 | 20-F | |
09/30/05 | 09/30/05 | 6-K | |
06/30/05 | 06/30/05 | Unknown | -- |
03/31/05 | 03/31/05 | Unknown | -- |
04/15/05 | 12/31/04 | 20-F | |
09/30/04 | 09/30/04 | Unknown | -- |
06/30/04 | 06/30/04 | Unknown | -- |
03/31/04 | 03/31/04 | Unknown | -- |
06/29/04 | 12/31/03 | 20-F | |
09/30/03 | 09/30/03 | Unknown | -- |
06/30/03 | 06/30/03 | Unknown | -- |
03/31/03 | 03/31/03 | Unknown | -- |
06/30/03 | 12/31/02 | 20-F | |
09/30/02 | 09/30/02 | Unknown | -- |
06/30/02 | 06/30/02 | 6-K | |
03/31/02 | 03/31/02 | Unknown | -- |