International Seaways (INSW) Financials

$84.85 +0.27 (+0.32%)

As of 03:05 PM Eastern

Annual Income Statements for International Seaways

This table shows International Seaways' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-	-18	-106	-89	-366	-5.53	-133	388	556	417	309
Consolidated Net Income / (Loss)	-	-18	-106	-89	-1.66	-5.53	-135	388	556	417	309
Net Income / (Loss) Continuing Operations	-	-18	-106	-89	-366	-5.53	-135	388	556	417	309
Total Pre-Tax Income	-	-18	-106	-89	-0.83	-5.53	-133	388	560	416	309
Total Operating Income	-	7.21	-108	-55	55	40	-112	443	615	455	345
Total Gross Profit	-	385	290	270	0.00	422	273	865	1,072	952	843
Total Revenue	-	398	290	270	0.00	422	273	865	1,072	952	843
Operating Revenue	-	398	290	270	-	422	273	865	1,072	952	843
Total Cost of Revenue	-	13	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	-	378	398	325	310	382	385	422	456	496	498
Selling, General & Admin Expense	-	30	24	24	27	29	33	46	47	55	54
Depreciation Expense	-	80	79	72	76	74	87	110	129	149	164
Other Operating Expenses / (Income)	-	188	208	208	207	178	275	285	316	324	323
Other Special Charges / (Income)	-	-	-	-	-	-	-9.75	-20	-36	-33	-43
Total Other Income / (Expense), net	-	-25	1.90	-35	-56	-45	-21	-55	-55	-40	-37
Interest Expense	-	40	41	60	66	37	37	58	66	50	43
Other Income / (Expense), net	-	-1.35	-5.82	-3.72	-0.94	-13	-5.95	2.33	11	10	6.17
Income Tax Expense	-	0.44	0.04	-0.11	0.00	0.00	1.62	0.09	3.88	-1.08	-0.41
Basic Earnings per Share	-	($0.62)	($3.64)	($3.05)	($0.03)	($0.20)	($3.48)	$7.85	$11.35	$8.45	$6.27
Weighted Average Basic Shares Outstanding	-	29.16M	29.16M	29.14M	29.23M	28.37M	38.41M	49.38M	48.98M	49.27M	49.34M
Diluted Earnings per Share	-	($0.62)	($3.64)	($3.05)	($0.03)	($0.20)	($3.48)	$7.77	$11.25	$8.38	$6.23
Weighted Average Diluted Shares Outstanding	-	29.16M	29.16M	29.14M	29.23M	28.37M	38.41M	49.84M	49.43M	49.68M	49.60M
Weighted Average Basic & Diluted Shares Outstanding	-	29.20M	29.16M	29.14M	29.23M	28.37M	49.60M	49.12M	48.93M	49.19M	49.43M
Cash Dividends to Common per Share	$6.86	$6.93	$6.93	-	-	-	-	$1.42	$6.29	$5.77	$2.93

This table shows International Seaways' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	98	132	144	145	92	36	50	62	71	128	286
Consolidated Net Income / (Loss)	98	132	144	145	92	36	50	62	71	128	286
Net Income / (Loss) Continuing Operations	98	132	144	145	92	36	50	62	71	128	286
Total Pre-Tax Income	98	136	144	145	92	35	61	62	71	127	295
Total Operating Income	114	147	154	155	101	45	59	69	79	138	289
Total Gross Profit	242	251	274	257	225	195	183	196	196	268	325
Total Revenue	242	251	274	257	225	195	183	196	196	268	325
Operating Revenue	242	251	274	257	225	195	183	196	196	268	325
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	128	103	120	103	124	150	124	126	118	130	37
Selling, General & Admin Expense	12	12	12	13	14	15	13	12	13	15	9.45
Depreciation Expense	33	34	34	37	39	39	40	41	41	41	41
Other Operating Expenses / (Income)	82	83	74	81	84	86	81	84	77	81	75
Other Special Charges / (Income)	0.07	-25	-0.05	-28	-13	8.75	-10	-11	-14	-7.63	-88
Total Other Income / (Expense), net	-16	-12	-9.93	-10	-9.29	-10	-9.61	-7.72	-8.14	-11	-2.42
Interest Expense	17	14	13	12	12	12	11	9.76	9.62	12	8.96
Interest & Investment Income	-	-	-	-	-	-	0.00	-	-	-	3.92
Other Income / (Expense), net	0.65	2.34	2.95	2.36	3.21	1.59	1.84	2.04	1.49	0.80	2.62
Basic Earnings per Share	$2.00	$2.71	$2.95	$2.93	$1.85	$0.72	$1.00	$1.25	$1.43	$2.59	$5.78
Weighted Average Basic Shares Outstanding	48.86M	48.98M	48.97M	49.39M	49.54M	49.27M	49.31M	49.32M	49.35M	49.34M	49.46M
Diluted Earnings per Share	$1.99	$2.68	$2.92	$2.91	$1.84	$0.71	$1.00	$1.25	$1.42	$2.56	$5.75
Weighted Average Diluted Shares Outstanding	49.28M	49.43M	49.38M	49.72M	49.88M	49.68M	49.53M	49.48M	49.61M	49.60M	49.71M
Weighted Average Basic & Diluted Shares Outstanding	48.91M	48.93M	49.37M	49.69M	49.19M	49.19M	49.34M	49.37M	49.39M	49.43M	49.50M

This table details how cash moves in and out of International Seaways' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	131	-226	-21	47	33	65	-117	145	-117	31	-41
Net Cash From Operating Activities	223	129	17	-12	87	216	-76	288	688	547	380
Net Cash From Continuing Operating Activities	223	129	17	-12	87	216	-76	288	688	547	380
Net Income / (Loss) Continuing Operations	173	-18	-106	-89	-0.83	-5.53	-135	388	556	417	309
Consolidated Net Income / (Loss)	173	-18	-106	-89	-0.83	-5.53	-135	388	556	417	309
Depreciation Expense	82	80	79	72	76	74	87	110	129	149	164
Amortization Expense	5.84	6.64	6.42	6.21	6.92	2.90	4.74	6.07	5.62	4.11	4.26
Non-Cash Adjustments To Reconcile Net Income	-54	64	50	42	-5.41	103	-11	-50	-57	-85	-113
Changes in Operating Assets and Liabilities, net	16	-3.29	-12	-45	11	41	-22	-167	55	62	16
Net Cash From Investing Activities	114	2.45	-137	124	108	32	133	43	-124	-155	-141
Net Cash From Continuing Investing Activities	114	2.45	-137	124	108	32	133	43	-124	-155	-141
Purchase of Property, Plant & Equipment	-0.96	-2.90	-0.41	-1.10	-0.57	-0.51	-0.98	-0.71	-1.47	-1.39	-1.44
Sale and/or Maturity of Investments	-	-	-	3.68	2.34	0.00	0.00	25	255	185	0.00
Other Investing Activities, net	98	5.35	-136	121	-17	31	80	-120	-378	-339	-140
Net Cash From Financing Activities	-206	-357	98	-64	-163	-183	-174	-186	-681	-361	-279
Net Cash From Continuing Financing Activities	-206	-357	98	-64	-163	-183	-174	-186	-681	-361	-279
Repayment of Debt	-6.28	-155	-513	-134	-162	-505	-619	-800	-437	-116	-237
Repurchase of Common Equity	0.00	0.00	-3.18	0.00	0.00	-30	-17	-20	-14	-25	0.00
Payment of Dividends	-200	-	-	0.00	0.00	-6.77	-46	-70	-308	-284	-145
Issuance of Debt	0.00	0.00	-	70	-0.10	363	84	641	50	120	411
Other Financing Activities, net	0.00	-202	615	-0.41	-0.37	-4.22	425	63	28	-56	-310

This table details how cash moves in and out of International Seaways' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	23	-12	13	37	-73	54	-25	16	264	-296	25
Net Cash From Operating Activities	148	125	156	168	129	94	70	86	78	146	141
Net Cash From Continuing Operating Activities	148	125	156	168	129	94	70	86	78	146	141
Net Income / (Loss) Continuing Operations	98	132	144	145	92	36	50	62	71	128	286
Consolidated Net Income / (Loss)	98	132	144	145	92	36	50	62	71	128	286
Depreciation Expense	33	34	34	37	39	39	40	41	41	41	41
Amortization Expense	1.36	1.13	1.04	1.02	1.03	1.02	0.98	0.98	1.01	1.28	1.26
Non-Cash Adjustments To Reconcile Net Income	-4.38	-29	-8.38	-40	-34	-2.70	-24	-36	-31	-23	-105
Changes in Operating Assets and Liabilities, net	20	-12	-15	26	32	20	3.90	17	-3.84	-1.22	-82
Net Cash From Investing Activities	39	45	-43	-54	-41	-18	37	9.57	-21	-167	-38
Net Cash From Continuing Investing Activities	39	45	-43	-54	-41	-18	37	9.57	-21	-167	-38
Purchase of Property, Plant & Equipment	-0.45	-0.44	-0.70	-0.10	-0.08	-0.51	-0.38	-0.18	-0.07	-0.81	-0.32
Acquisitions	-	-	-	-	-	-	0.00	-	-	-	-4.49
Sale and/or Maturity of Investments	80	40	60	75	-	50	0.00	-	-	-	40
Other Investing Activities, net	-41	5.72	-102	-128	-41	-67	37	9.75	-21	-166	-73
Net Cash From Financing Activities	-165	-183	-101	-78	-161	-21	-132	-79	206	-275	-79
Net Cash From Continuing Financing Activities	-165	-183	-101	-78	-161	-21	-132	-79	206	-275	-79
Repayment of Debt	-134	-109	-20	-26	-50	-20	-102	-36	-33	-66	-2.58
Payment of Dividends	-69	-61	-65	-87	-74	-59	-34	-30	-38	-42	-106
Issuance of Debt	50	-	0.00	-	-	70	20	-	291	101	43
Other Financing Activities, net	-11	-13	-16	-15	-13	-12	-16	-14	-13	-267	-12

This table presents International Seaways' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,030	1,663	2,751	1,849	1,754	1,587	2,347	2,615	2,522	2,636	2,669
Total Current Assets	397	171	134	168	187	257	224	643	465	376	367
Cash & Equivalents	309	92	62	58	90	199	98	244	127	158	117
Short-Term Investments	-	-	-	-	-	-	0.00	80	60	0.00	50
Note & Lease Receivable	4.46	5.30	4.42	5.25	3.94	4.48	5.65	13	14	14	14
Accounts Receivable	75	67	58	95	84	43	107	290	247	186	178
Inventories, net	3.40	1.34	3.27	3.07	3.90	3.60	2.11	0.53	1.33	1.88	0.61
Prepaid Expenses	5.07	5.35	6.46	5.91	5.99	6.00	12	9.00	10	16	7.38
Other Current Assets	-	-	11	0.46	-	-	0.00	6.99	5.08	2.08	0.41
Plant, Property, & Equipment, net	1,240	1,100	1,105	1,331	1,293	1,108	1,803	1,680	1,914	2,050	2,078
Total Noncurrent Assets	393	392	1,502	350	274	221	319	293	142	210	224
Long-Term Investments	345	359	1,460	268	153	142	180	36	32	35	33
Goodwill	-	-	-	-	-	-	-	-	-	-	0.00
Other Noncurrent Operating Assets	39	33	38	23	60	63	137	213	111	174	191
Total Liabilities & Shareholders' Equity	2,030	1,663	2,751	1,849	1,754	1,587	2,347	2,615	2,522	2,636	2,669
Total Liabilities	646	483	580	839	731	614	1,176	1,128	805	780	648
Total Current Liabilities	48	45	48	75	114	109	235	257	196	131	99
Short-Term Debt	6.28	6.18	24	52	70	61	179	163	127	50	26
Accounts Payable	31	38	23	23	28	34	45	51	58	66	70
Other Current Liabilities	11	0.68	0.41	0.71	17	13	11	43	10	15	3.18
Total Noncurrent Liabilities	598	438	532	763	617	506	942	870	609	649	549
Long-Term Debt	589	433	529	759	591	474	926	861	595	638	541
Capital Lease Obligations	-	-	-	-	-	-	-	-	12	8.72	5.95
Other Noncurrent Operating Liabilities	8.81	4.44	2.72	4.36	26	31	16	9.62	2.63	2.35	2.23
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,384	1,180	2,171	1,010	1,022	972	1,170	1,488	1,717	1,856	2,020
Total Preferred & Common Equity	1,384	1,180	2,171	1,010	1,022	972	1,170	0.00	1,717	1,856	2,020
Total Common Equity	1,384	1,180	2,171	1,010	1,022	972	1,170	1,488	1,717	1,856	2,020
Common Stock	1,355	1,306	2,613	1,309	1,313	1,281	1,591	1,502	1,491	1,505	1,507
Retained Earnings	93	-74	-361	-269	-270	-276	-409	-21	227	359	524
Accumulated Other Comprehensive Income / (Loss)	-64	-52	-81	-30	-21	-33	-12	6.96	-1.06	-7.86	-11

This table presents International Seaways' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,460	2,572	2,656	2,561	2,551	2,675	2,588	2,542	2,523	2,790	2,871
Total Current Assets	510	563	560	474	490	435	372	327	332	592	666
Cash & Equivalents	174	156	116	139	140	176	103	133	149	413	142
Short-Term Investments	80	105	120	75	75	0.00	50	0.00	-	0.00	235
Note & Lease Receivable	7.89	12	13	11	12	17	16	16	20	14	26
Accounts Receivable	230	248	241	220	243	223	191	160	150	155	242
Inventories, net	0.87	0.70	0.63	1.14	0.59	1.85	0.38	0.57	0.52	0.58	5.41
Prepaid Expenses	11	16	15	12	15	12	9.72	16	12	9.40	16
Other Current Assets	4.80	6.27	54	16	5.05	4.53	2.09	1.59	1.24	0.75	0.32
Plant, Property, & Equipment, net	1,708	1,776	1,978	1,948	1,891	2,082	2,045	2,003	1,962	1,948	1,987
Total Noncurrent Assets	243	233	118	139	171	159	170	213	229	250	218
Long-Term Investments	38	34	33	34	34	33	34	37	36	34	28
Goodwill	-	-	-	-	-	-	-	-	-	-	7.37
Other Noncurrent Operating Assets	203	177	86	106	119	111	124	175	193	216	183
Total Liabilities & Shareholders' Equity	2,460	2,572	2,656	2,561	2,551	2,675	2,588	2,542	2,523	2,790	2,871
Total Liabilities	1,131	1,014	1,035	911	757	787	713	674	623	856	677
Total Current Liabilities	221	227	247	187	180	112	103	118	350	338	91
Short-Term Debt	167	156	200	135	128	50	50	50	287	282	28
Accounts Payable	46	53	47	43	42	52	46	56	55	50	60
Other Current Liabilities	8.32	19	0.45	9.78	10	10	7.67	12	7.87	5.62	2.24
Total Noncurrent Liabilities	910	787	788	724	577	676	610	555	273	518	586
Long-Term Debt	901	777	778	707	564	663	601	545	260	510	574
Capital Lease Obligations	-	-	-	-	9.27	6.96	6.77	6.95	6.60	6.21	5.79
Other Noncurrent Operating Liabilities	9.68	9.62	9.84	17	3.31	5.49	2.46	3.43	6.70	2.35	6.56
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,329	1,557	1,620	1,650	1,795	1,887	1,875	1,869	1,900	1,934	2,194
Total Preferred & Common Equity	1,329	0.00	0.00	0.00	1,795	1,887	1,875	1,869	1,900	1,934	2,194
Total Common Equity	1,329	1,557	1,620	1,650	1,795	1,887	1,875	1,869	1,900	1,934	2,194
Common Stock	1,558	1,502	1,487	1,489	1,489	1,524	1,502	1,503	1,504	1,505	1,502
Retained Earnings	-240	53	127	156	307	364	382	374	406	439	704
Accumulated Other Comprehensive Income / (Loss)	11	2.90	5.76	5.16	-0.30	-1.42	-9.22	-8.81	-10	-10	-11

This table displays calculated financial ratios and metrics derived from International Seaways' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	-27.17%	-6.80%	-100.00%	0.00%	-35.36%	217.25%	23.95%	-11.21%	-11.38%
EBITDA Growth	0.63%	5.60%	-130.83%	171.59%	570.78%	-23.75%	-125.57%	2,205.22%	35.50%	-18.65%	-16.08%
EBIT Growth	0.00%	0.00%	-2,041.02%	48.80%	193.10%	-50.09%	-536.33%	476.84%	40.70%	-25.67%	-24.45%
NOPAT Growth	0.00%	0.00%	-1,597.78%	49.48%	201.17%	-27.71%	-381.19%	663.79%	38.10%	-25.32%	-24.23%
Net Income Growth	0.00%	0.00%	-482.17%	16.16%	98.13%	-233.19%	-2,334.64%	388.05%	43.45%	-25.11%	-25.79%
EPS Growth	0.00%	0.00%	-487.10%	16.21%	99.02%	-566.67%	-1,640.00%	323.28%	44.79%	-25.51%	-25.66%
Operating Cash Flow Growth	187.94%	-42.10%	-86.51%	-171.74%	801.01%	147.06%	-135.25%	477.73%	139.19%	-20.52%	-30.54%
Free Cash Flow Firm Growth	0.00%	111.61%	-171.84%	-145.94%	134.56%	175.94%	-458.93%	131.02%	84.99%	-38.04%	-4.83%
Invested Capital Growth	0.00%	-11.23%	2.93%	19.28%	-3.81%	-16.64%	73.53%	7.81%	3.75%	5.72%	1.40%
Revenue Q/Q Growth	0.00%	0.00%	-5.35%	13.01%	-100.00%	460.92%	-42.52%	39.20%	-7.54%	-5.57%	9.51%
EBITDA Q/Q Growth	0.00%	0.00%	-191.36%	137.19%	66.72%	-57.79%	75.17%	88.30%	-9.60%	-13.59%	22.24%
EBIT Q/Q Growth	0.00%	0.00%	-112.18%	56.82%	11,211.68%	-83.90%	37.57%	142.80%	-12.03%	-18.12%	35.62%
NOPAT Q/Q Growth	0.00%	0.00%	-129.49%	66.03%	108.87%	-84.89%	41.07%	135.63%	-12.71%	-17.58%	37.10%
Net Income Q/Q Growth	0.00%	0.00%	-45.08%	52.34%	83.00%	-104.38%	37.92%	187.69%	-13.43%	-18.77%	42.14%
EPS Q/Q Growth	0.00%	0.00%	-45.02%	52.42%	90.91%	-104.54%	47.67%	209.56%	-13.06%	-19.03%	42.24%
Operating Cash Flow Q/Q Growth	0.00%	-28.08%	95.98%	-253.09%	201.37%	-11.02%	-140.47%	264.11%	-7.54%	-5.50%	15.99%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	12.46%	-7.83%	21.62%	-8.81%	123.40%	-5.02%	-27.48%	0.42%
Invested Capital Q/Q Growth	0.00%	0.00%	-3.06%	-0.15%	1.91%	-13.32%	-2.31%	2.34%	-0.52%	0.66%	4.71%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	96.67%	100.00%	100.00%	0.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	0.00%	23.19%	-9.82%	7.54%	0.00%	24.74%	-9.79%	64.93%	70.98%	65.04%	61.59%
Operating Margin	0.00%	1.81%	-37.21%	-20.17%	0.00%	9.46%	-41.14%	51.19%	57.42%	47.84%	40.96%
EBIT Margin	0.00%	1.47%	-39.22%	-21.54%	0.00%	6.42%	-43.33%	51.46%	58.42%	48.90%	41.69%
Profit (Net Income) Margin	0.00%	-4.58%	-36.57%	-32.90%	0.00%	-1.31%	-49.41%	44.86%	51.92%	43.79%	36.67%
Tax Burden Percent	0.00%	103.23%	100.04%	99.88%	200.24%	100.02%	101.22%	99.98%	99.31%	100.26%	100.13%
Interest Burden Percent	0.00%	-301.18%	93.21%	152.88%	-1.53%	-20.43%	112.67%	87.19%	89.50%	89.32%	87.85%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.69%	-0.26%	-0.13%
Return on Invested Capital (ROIC)	0.00%	0.41%	-6.37%	-2.89%	0.00%	2.21%	-4.99%	21.34%	27.88%	19.87%	14.55%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	59.65%	-0.14%	15.77%	0.00%	-10.28%	-16.18%	14.00%	18.60%	12.09%	6.21%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-1.83%	0.04%	-2.70%	0.00%	-2.76%	-7.58%	7.85%	6.85%	3.45%	1.41%
Return on Equity (ROE)	0.00%	-1.42%	-6.33%	-5.59%	-0.16%	-0.55%	-12.57%	29.19%	34.73%	23.33%	15.96%
Cash Return on Invested Capital (CROIC)	-200.00%	12.30%	-9.26%	-20.48%	6.63%	20.36%	-58.75%	13.83%	24.20%	14.31%	13.16%
Operating Return on Assets (OROA)	0.00%	0.32%	-5.16%	-2.53%	0.00%	1.62%	-6.00%	17.94%	24.37%	18.04%	13.25%
Return on Assets (ROA)	0.00%	-0.99%	-4.81%	-3.87%	0.00%	-0.33%	-6.85%	15.63%	21.66%	16.16%	11.66%
Return on Common Equity (ROCE)	0.00%	-1.42%	-6.33%	-5.59%	-0.16%	-0.55%	-12.57%	29.18%	34.73%	23.33%	15.96%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-1.55%	-4.89%	-8.81%	-0.16%	-0.57%	-11.51%	0.00%	32.41%	22.45%	0.00%
Net Operating Profit after Tax (NOPAT)	0.00	5.04	-76	-38	39	28	-78	443	611	456	346
NOPAT Margin	0.00%	1.27%	-26.05%	-14.12%	0.00%	6.62%	-28.80%	51.18%	57.02%	47.96%	41.01%
Net Nonoperating Expense Percent (NNEP)	0.00%	-59.25%	-6.23%	-18.67%	10.30%	12.49%	11.19%	7.34%	9.28%	7.78%	8.34%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	17.62%	24.94%	17.88%	13.34%
Cost of Revenue to Revenue	0.00%	3.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	7.62%	8.43%	8.99%	0.00%	6.87%	12.19%	5.36%	4.43%	5.82%	6.38%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	0.00%	94.86%	137.21%	120.17%	0.00%	90.54%	141.14%	48.81%	42.58%	52.16%	59.04%
Earnings before Interest and Taxes (EBIT)	0.00	5.86	-114	-58	54	27	-118	445	626	465	352
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	87	92	-28	20	137	104	-27	561	761	619	519
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.25	0.18	0.35	0.61	0.34	0.50	0.93	1.15	0.95	1.19
Price to Tangible Book Value (P/TBV)	0.00	0.25	0.18	0.35	0.61	0.34	0.50	0.93	1.15	0.95	1.19
Price to Revenue (P/Rev)	0.00	0.73	1.32	1.30	0.00	0.78	2.13	1.60	1.84	1.86	2.84
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.57	3.54	4.24	7.75
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	2.03%	11.85%	1.49%	1.19%	15.72%	6.04%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	28.00%	28.21%	23.57%	12.90%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.24	0.00	0.58	0.75	0.46	0.71	0.95	1.11	0.96	1.16
Enterprise Value to Revenue (EV/Rev)	0.00	0.71	0.00	3.09	0.00	1.25	5.17	2.37	2.32	2.39	3.29
Enterprise Value to EBITDA (EV/EBITDA)	0.00	3.05	0.00	40.97	7.61	5.04	0.00	3.65	3.27	3.67	5.34
Enterprise Value to EBIT (EV/EBIT)	0.00	48.06	0.00	0.00	19.20	19.41	0.00	4.61	3.97	4.88	7.88
Enterprise Value to NOPAT (EV/NOPAT)	0.00	55.84	0.00	0.00	26.96	18.82	0.00	4.63	4.07	4.98	8.01
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	2.18	0.00	0.00	11.90	2.43	0.00	7.12	3.61	4.15	7.29
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	1.84	0.00	0.00	11.16	2.04	0.00	7.15	4.69	6.91	8.86
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.43	0.37	0.25	0.80	0.65	0.55	0.94	0.69	0.43	0.38	0.28
Long-Term Debt to Equity	0.43	0.37	0.24	0.75	0.58	0.49	0.79	0.58	0.35	0.35	0.27
Financial Leverage	-0.05	-0.03	-0.29	-0.17	0.38	0.27	0.47	0.56	0.37	0.29	0.23
Leverage Ratio	1.47	1.44	1.32	1.45	1.77	1.67	1.84	1.87	1.60	1.44	1.37
Compound Leverage Factor	0.00	-4.34	1.23	2.21	-0.03	-0.34	2.07	1.63	1.43	1.29	1.20
Debt to Total Capital	30.08%	27.15%	20.30%	44.53%	39.27%	35.53%	48.56%	40.76%	29.96%	27.30%	22.10%
Short-Term Debt to Total Capital	0.32%	0.38%	0.88%	2.83%	4.18%	4.08%	7.85%	6.49%	5.20%	1.96%	0.99%
Long-Term Debt to Total Capital	29.76%	26.77%	19.41%	41.70%	35.09%	31.46%	40.71%	34.27%	24.76%	25.34%	21.10%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	69.92%	72.85%	79.70%	55.47%	60.73%	64.47%	51.41%	59.25%	70.04%	72.70%	77.90%
Debt to EBITDA	6.80	4.76	-19.41	39.75	4.83	5.14	-41.43	1.82	0.97	1.13	1.10
Net Debt to EBITDA	-0.67	-0.12	33.64	23.73	3.06	1.86	-31.00	1.18	0.68	0.81	0.72
Long-Term Debt to EBITDA	6.73	4.69	-18.57	37.22	4.32	4.55	-34.73	1.53	0.80	1.05	1.05
Debt to NOPAT	0.00	87.15	-7.32	-21.24	17.12	19.19	-14.08	2.31	1.20	1.53	1.66
Net Debt to NOPAT	0.00	-2.19	12.68	-12.68	10.83	6.97	-10.53	1.50	0.84	1.10	1.08
Long-Term Debt to NOPAT	0.00	85.92	-7.00	-19.89	15.30	16.99	-11.80	1.94	0.99	1.42	1.58
Altman Z-Score	0.00	0.64	0.22	0.15	0.45	0.51	0.00	1.79	2.97	2.61	3.37
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.02%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	8.19	3.79	2.80	2.23	1.64	2.36	0.96	2.50	2.38	2.87	3.71
Quick Ratio	8.02	3.64	2.59	2.10	1.55	2.27	0.90	2.43	2.29	2.73	3.63
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,316	153	-110	-270	93	258	-924	287	530	329	313
Operating Cash Flow to CapEx	0.00%	4,454.58%	4,284.48%	-1,138.69%	15,241.46%	42,631.16%	-7,782.64%	40,535.35%	46,798.23%	39,476.05%	26,374.18%
Free Cash Flow to Firm to Interest Expense	0.00	3.79	-2.66	-4.48	1.41	7.01	-25.12	4.97	8.07	6.61	7.32
Operating Cash Flow to Interest Expense	0.00	3.20	0.42	-0.21	1.32	5.89	-2.07	4.99	10.47	11.01	8.90
Operating Cash Flow Less CapEx to Interest Expense	0.00	3.12	0.41	-0.23	1.31	5.87	-2.10	4.97	10.45	10.98	8.87
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.22	0.13	0.12	0.00	0.25	0.14	0.35	0.42	0.37	0.32
Accounts Receivable Turnover	0.00	5.62	4.64	3.54	0.00	6.63	3.62	4.36	3.99	4.40	4.64
Inventory Turnover	0.00	5.61	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.34	0.26	0.22	0.00	0.35	0.19	0.50	0.60	0.48	0.41
Accounts Payable Turnover	0.00	0.38	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	65.00	78.70	103.15	0.00	55.06	100.75	83.77	91.43	82.98	78.65
Days Inventory Outstanding (DIO)	0.00	65.09	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	948.93	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	-818.85	78.70	103.15	0.00	55.06	100.75	83.77	91.43	82.98	78.65
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,316	1,168	1,203	1,435	1,380	1,150	1,996	2,152	2,233	2,360	2,393
Invested Capital Turnover	0.00	0.32	0.24	0.21	0.00	0.33	0.17	0.42	0.49	0.41	0.35
Increase / (Decrease) in Invested Capital	1,316	-148	34	232	-55	-230	846	156	81	128	33
Enterprise Value (EV)	0.00	282	-574	835	1,041	525	1,409	2,049	2,488	2,272	2,771
Market Capitalization	0.00	293	384	351	623	331	582	1,385	1,972	1,768	2,398
Book Value per Share	$0.00	$40.45	$74.64	$34.60	$34.92	$34.73	$23.08	$30.31	$35.10	$37.73	$40.90
Tangible Book Value per Share	$0.00	$40.45	$74.64	$34.60	$34.92	$34.73	$23.06	$30.31	$35.10	$37.73	$40.90
Total Capital	1,979	1,619	2,724	1,821	1,683	1,508	2,275	2,511	2,451	2,553	2,593
Total Debt	595	440	553	811	661	536	1,105	1,023	734	697	573
Total Long-Term Debt	589	433	529	759	591	474	926	861	607	647	547
Net Debt	-59	-11	-958	484	418	195	827	664	516	504	373
Capital Expenditures (CapEx)	-16	2.90	0.41	1.10	0.57	0.51	0.98	0.71	1.47	1.39	1.44
Debt-free, Cash-free Net Working Capital (DFCFNWC)	46	40	59	86	54	10	71	224	210	138	127
Debt-free Net Working Capital (DFNWC)	355	132	110	144	143	209	169	548	397	295	294
Net Working Capital (NWC)	348	126	86	92	73	148	-10	385	269	245	268
Net Nonoperating Expense (NNE)	0.00	23	31	51	40	33	56	55	55	40	37
Net Nonoperating Obligations (NNO)	-68	-11	-969	425	358	178	826	664	516	504	373
Total Depreciation and Amortization (D&A)	87	87	85	79	83	77	91	116	135	154	168
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	10.04%	20.37%	31.66%	0.00%	2.38%	25.95%	25.94%	19.60%	14.50%	15.06%
Debt-free Net Working Capital to Revenue	0.00%	33.14%	37.97%	53.23%	0.00%	49.67%	61.86%	63.39%	37.03%	31.05%	34.86%
Net Working Capital to Revenue	0.00%	31.58%	29.68%	34.16%	0.00%	35.09%	-3.71%	44.55%	25.14%	25.79%	31.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	($3.05)	($0.03)	($0.20)	($3.48)	$7.85	$11.35	$8.45	$6.27
Adjusted Weighted Average Basic Shares Outstanding	0.00	29.20M	29.11M	29.14M	29.28M	28.01M	38.41M	49.38M	48.98M	49.27M	49.34M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	($3.05)	($0.03)	($0.20)	($3.48)	$7.77	$11.25	$8.38	$6.23
Adjusted Weighted Average Diluted Shares Outstanding	0.00	29.20M	29.11M	29.14M	29.28M	28.01M	38.41M	49.84M	49.43M	49.68M	49.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	($3.05)	($0.03)	($0.20)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	29.20M	29.11M	29.20M	29.23M	28.37M	49.60M	49.12M	48.93M	49.19M	49.43M
Normalized Net Operating Profit after Tax (NOPAT)	0.00	60	-15	-24	39	98	-85	423	575	296	212
Normalized NOPAT Margin	0.00%	15.19%	-5.09%	-9.02%	0.00%	23.24%	-31.31%	48.91%	53.69%	31.08%	25.14%
Pre Tax Income Margin	0.00%	-4.43%	-36.55%	-32.94%	0.00%	-1.31%	-48.81%	44.87%	52.28%	43.68%	36.62%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.15	-2.76	-0.97	0.82	0.74	-3.21	7.71	9.52	9.36	8.23
NOPAT to Interest Expense	0.00	0.13	-1.83	-0.63	0.58	0.76	-2.13	7.67	9.29	9.18	8.10
EBIT Less CapEx to Interest Expense	0.00	0.07	-2.77	-0.99	0.81	0.72	-3.24	7.70	9.50	9.33	8.20
NOPAT Less CapEx to Interest Expense	0.00	0.05	-1.84	-0.65	0.57	0.75	-2.16	7.65	9.27	9.15	8.06
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-122.40%	-34.31%	18.01%	55.38%	68.25%	46.76%
Augmented Payout Ratio	0.00%	0.00%	-2.99%	0.00%	0.00%	-664.74%	-46.68%	23.17%	57.89%	74.25%	46.76%

This table displays calculated financial ratios and metrics derived from International Seaways' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	49,427,543.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	49,427,543.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	5.79
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.06%	-25.85%	-4.43%	-11.91%	-6.83%	-22.38%	-33.17%	-24.00%	-12.79%	37.65%	77.47%
EBITDA Growth	-5.56%	-30.46%	-12.74%	-5.53%	-3.35%	-52.77%	-47.18%	-41.58%	-15.34%	108.46%	227.43%
EBIT Growth	-10.84%	-36.39%	-16.99%	-8.67%	-9.25%	-68.84%	-61.23%	-54.56%	-23.05%	197.98%	377.22%
NOPAT Growth	-11.14%	-38.25%	-16.66%	-8.01%	-11.50%	-67.65%	-61.68%	-55.19%	-22.08%	206.74%	387.66%
Net Income Growth	-13.66%	-39.52%	-16.30%	-5.88%	-6.38%	-72.88%	-65.70%	-57.40%	-23.06%	255.93%	477.31%
EPS Growth	-12.72%	-38.67%	-15.85%	-6.43%	-7.54%	-73.51%	-65.75%	-57.04%	-22.83%	260.56%	475.00%
Operating Cash Flow Growth	62.51%	-30.90%	-29.15%	-13.27%	-13.02%	-25.39%	-55.29%	-48.92%	-39.35%	55.95%	101.67%
Free Cash Flow Firm Growth	-139.93%	-18.04%	126.09%	167.77%	101.68%	-229.35%	-92.86%	127.92%	29,680.53%	227.12%	3,117.07%
Invested Capital Growth	6.74%	3.75%	3.27%	2.91%	4.48%	5.72%	2.37%	-5.37%	-2.53%	1.40%	4.22%
Revenue Q/Q Growth	-17.28%	3.73%	9.44%	-6.19%	-12.52%	-13.58%	-5.76%	6.68%	0.38%	36.40%	21.50%
EBITDA Q/Q Growth	-27.44%	23.35%	4.40%	1.10%	-25.77%	-39.72%	16.74%	11.83%	7.57%	48.43%	83.37%
EBIT Q/Q Growth	-33.27%	30.34%	5.17%	-0.15%	-33.70%	-55.24%	30.84%	17.03%	12.27%	73.34%	109.54%
NOPAT Q/Q Growth	-32.19%	25.81%	7.57%	0.24%	-34.77%	-54.00%	27.40%	17.23%	13.43%	75.59%	108.86%
Net Income Q/Q Growth	-36.31%	34.90%	9.37%	0.16%	-36.65%	-60.93%	38.36%	24.37%	14.44%	80.74%	124.42%
EPS Q/Q Growth	-36.01%	34.67%	8.96%	-0.34%	-36.77%	-61.41%	40.85%	25.00%	13.60%	80.28%	124.61%
Operating Cash Flow Q/Q Growth	-23.33%	-15.48%	24.67%	7.35%	-23.11%	-27.50%	-25.29%	22.63%	-8.69%	86.40%	-3.38%
Free Cash Flow Firm Q/Q Growth	78.53%	328.27%	32.65%	4.25%	-99.47%	-17,653.36%	107.32%	3,228.31%	-30.37%	-23.78%	82.13%
Invested Capital Q/Q Growth	-3.67%	-0.52%	0.66%	6.69%	-2.20%	0.66%	-2.53%	-1.38%	0.73%	4.71%	0.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	61.86%	73.57%	70.18%	75.63%	64.18%	44.76%	55.46%	58.14%	62.30%	67.79%	102.32%
Operating Margin	47.23%	58.75%	56.28%	60.13%	44.84%	23.14%	32.27%	35.46%	40.07%	51.58%	88.66%
EBIT Margin	47.50%	59.68%	57.35%	61.05%	46.26%	23.96%	33.27%	36.50%	40.82%	51.87%	89.46%
Profit (Net Income) Margin	40.52%	52.69%	52.66%	56.22%	40.72%	18.41%	27.03%	31.51%	35.92%	47.60%	87.92%
Tax Burden Percent	99.95%	97.46%	100.00%	100.00%	100.00%	103.12%	100.00%	100.00%	100.00%	100.32%	96.96%
Interest Burden Percent	85.35%	90.59%	91.81%	92.09%	88.01%	74.49%	81.23%	86.33%	88.00%	91.46%	101.35%
Effective Tax Rate	0.05%	2.54%	0.00%	0.00%	0.00%	-3.12%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	25.18%	27.99%	26.95%	26.06%	19.69%	9.89%	12.21%	12.14%	13.33%	18.30%	37.19%
ROIC Less NNEP Spread (ROIC-NNEP)	22.81%	26.05%	25.09%	24.41%	17.95%	7.81%	10.04%	10.38%	11.35%	15.87%	36.43%
Return on Net Nonoperating Assets (RNNOA)	10.48%	9.59%	8.02%	8.49%	5.42%	2.23%	2.42%	2.41%	2.45%	3.59%	5.70%
Return on Equity (ROE)	35.65%	37.58%	34.97%	34.54%	25.11%	12.12%	14.63%	14.55%	15.77%	21.89%	42.88%
Cash Return on Invested Capital (CROIC)	25.70%	24.20%	23.02%	21.11%	19.75%	14.31%	13.49%	17.28%	13.45%	13.16%	20.33%
Operating Return on Assets (OROA)	21.93%	24.90%	23.71%	23.46%	18.11%	8.84%	11.24%	11.22%	11.69%	16.49%	32.57%
Return on Assets (ROA)	18.71%	21.99%	21.77%	21.61%	15.94%	6.79%	9.13%	9.69%	10.29%	15.13%	32.00%
Return on Common Equity (ROCE)	35.65%	37.58%	34.97%	34.54%	25.11%	12.12%	14.63%	14.55%	15.77%	21.89%	42.88%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	29.43%	27.51%	27.37%	0.00%	17.22%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	114	144	154	155	101	46	59	69	79	138	289
NOPAT Margin	47.21%	57.25%	56.28%	60.13%	44.84%	23.87%	32.27%	35.46%	40.07%	51.58%	88.66%
Net Nonoperating Expense Percent (NNEP)	2.36%	1.94%	1.85%	1.65%	1.74%	2.08%	2.17%	1.76%	1.98%	2.43%	0.76%
Return On Investment Capital (ROIC_SIMPLE)	-	5.86%	-	-	-	1.82%	2.40%	2.83%	2.88%	5.33%	10.30%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	5.09%	4.94%	4.51%	5.22%	6.39%	7.82%	7.26%	6.28%	6.78%	5.54%	2.90%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	52.77%	41.25%	43.72%	39.87%	55.16%	76.86%	67.73%	64.54%	59.93%	48.42%	11.34%
Earnings before Interest and Taxes (EBIT)	115	150	157	157	104	47	61	71	80	139	291
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	150	184	193	195	145	87	102	114	122	182	333
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.19	1.15	1.41	1.55	1.37	0.95	0.87	0.95	1.18	1.19	1.64
Price to Tangible Book Value (P/TBV)	1.19	1.15	1.41	1.55	1.37	0.95	0.87	0.95	1.18	1.19	1.65
Price to Revenue (P/Rev)	1.69	1.84	2.39	2.85	2.54	1.86	1.90	2.25	2.95	2.84	3.66
Price to Earnings (P/E)	3.05	3.54	4.79	5.62	4.99	4.24	5.08	7.54	10.46	7.75	6.60
Dividend Yield	1.20%	1.19%	3.02%	5.39%	8.86%	15.72%	15.51%	10.96%	7.10%	6.04%	6.01%
Earnings Yield	32.77%	28.21%	20.90%	17.79%	20.02%	23.57%	19.70%	13.26%	9.56%	12.90%	15.15%
Enterprise Value to Invested Capital (EV/IC)	1.14	1.11	1.33	1.43	1.29	0.96	0.90	0.96	1.15	1.16	1.59
Enterprise Value to Revenue (EV/Rev)	2.20	2.32	2.81	3.35	3.01	2.39	2.40	2.72	3.41	3.29	3.86
Enterprise Value to EBITDA (EV/EBITDA)	3.04	3.27	4.07	4.76	4.23	3.67	3.91	4.85	6.18	5.34	5.07
Enterprise Value to EBIT (EV/EBIT)	3.59	3.97	5.02	5.92	5.34	4.88	5.60	7.66	10.13	7.88	6.54
Enterprise Value to NOPAT (EV/NOPAT)	3.65	4.07	5.14	6.05	5.48	4.98	5.74	7.90	10.41	8.01	6.62
Enterprise Value to Operating Cash Flow (EV/OCF)	3.43	3.61	4.78	5.73	5.24	4.15	4.48	5.73	8.02	7.29	8.44
Enterprise Value to Free Cash Flow (EV/FCFF)	4.58	4.69	5.85	6.87	6.69	6.91	6.73	5.38	8.43	8.86	7.97
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.51	0.43	0.39	0.38	0.35	0.38	0.32	0.29	0.41	0.28	0.28
Long-Term Debt to Equity	0.43	0.35	0.32	0.36	0.32	0.35	0.30	0.14	0.27	0.27	0.26
Financial Leverage	0.46	0.37	0.32	0.35	0.30	0.29	0.24	0.23	0.22	0.23	0.16
Leverage Ratio	1.69	1.60	1.53	1.52	1.46	1.44	1.39	1.37	1.41	1.37	1.33
Compound Leverage Factor	1.44	1.45	1.40	1.40	1.29	1.08	1.13	1.18	1.24	1.25	1.35
Debt to Total Capital	33.78%	29.96%	28.09%	27.60%	25.96%	27.30%	24.36%	22.57%	29.22%	22.10%	21.69%
Short-Term Debt to Total Capital	5.41%	5.20%	5.11%	1.90%	1.97%	1.96%	2.03%	11.72%	10.34%	0.99%	1.01%
Long-Term Debt to Total Capital	28.37%	24.76%	22.98%	25.70%	23.99%	25.34%	22.33%	10.86%	18.88%	21.10%	20.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	66.22%	70.04%	71.91%	72.40%	74.04%	72.70%	75.64%	77.43%	70.78%	77.90%	78.31%
Debt to EBITDA	1.00	0.97	0.96	1.00	0.92	1.13	1.14	1.24	1.88	1.10	0.81
Net Debt to EBITDA	0.71	0.68	0.62	0.71	0.66	0.81	0.82	0.83	0.83	0.72	0.27
Long-Term Debt to EBITDA	0.84	0.80	0.78	0.93	0.85	1.05	1.04	0.60	1.21	1.05	0.77
Debt to NOPAT	1.20	1.20	1.21	1.27	1.19	1.53	1.67	2.02	3.16	1.66	1.06
Net Debt to NOPAT	0.85	0.84	0.78	0.90	0.85	1.10	1.20	1.34	1.39	1.08	0.35
Long-Term Debt to NOPAT	1.01	0.99	0.99	1.18	1.10	1.42	1.53	0.97	2.04	1.58	1.01
Altman Z-Score	2.11	2.34	2.94	3.14	3.01	2.08	2.18	2.36	2.30	3.10	4.45
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.53	2.38	2.73	3.89	3.60	2.87	2.76	0.95	1.75	3.71	7.34
Quick Ratio	2.38	2.29	2.61	3.72	3.49	2.73	2.61	0.91	1.72	3.63	7.10
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-28	63	83	87	0.46	-81	5.95	198	138	105	191
Operating Cash Flow to CapEx	33,065.26%	28,780.50%	22,316.98%	167,939.00%	163,462.03%	18,502.37%	18,602.93%	48,462.71%	105,844.59%	17,936.24%	44,219.75%
Free Cash Flow to Firm to Interest Expense	-1.64	4.46	6.47	6.99	0.04	-6.83	0.52	20.29	14.33	8.86	21.37
Operating Cash Flow to Interest Expense	8.83	8.91	12.14	13.52	10.33	7.87	6.11	8.79	8.14	12.30	15.75
Operating Cash Flow Less CapEx to Interest Expense	8.80	8.88	12.09	13.51	10.33	7.83	6.08	8.77	8.13	12.23	15.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.46	0.42	0.41	0.38	0.39	0.37	0.34	0.31	0.29	0.32	0.36
Accounts Receivable Turnover	5.15	3.99	4.31	4.41	4.90	4.40	4.27	4.28	4.45	4.64	4.89
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.63	0.60	0.58	0.50	0.50	0.48	0.44	0.40	0.39	0.41	0.49
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	70.84	91.43	84.61	82.70	74.42	82.98	85.53	85.28	82.03	78.65	74.60
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	70.84	91.43	84.61	82.70	74.42	82.98	85.53	85.28	82.03	78.65	74.60
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,244	2,233	2,247	2,398	2,345	2,360	2,301	2,269	2,286	2,393	2,398
Invested Capital Turnover	0.53	0.49	0.48	0.43	0.44	0.41	0.38	0.34	0.33	0.35	0.42
Increase / (Decrease) in Invested Capital	142	81	71	68	101	128	53	-129	-59	33	97
Enterprise Value (EV)	2,556	2,488	2,981	3,430	3,032	2,272	2,065	2,169	2,627	2,771	3,806
Market Capitalization	1,962	1,972	2,528	2,919	2,562	1,768	1,633	1,800	2,275	2,398	3,602
Book Value per Share	$33.75	$35.10	$36.68	$38.23	$37.72	$37.73	$37.99	$38.51	$39.17	$40.90	$44.39
Tangible Book Value per Share	$33.75	$35.10	$36.68	$38.23	$37.72	$37.73	$37.99	$38.51	$39.17	$40.90	$44.24
Total Capital	2,492	2,451	2,496	2,607	2,532	2,553	2,471	2,454	2,732	2,593	2,802
Total Debt	842	734	701	720	657	697	602	554	798	573	608
Total Long-Term Debt	707	607	573	670	607	647	552	266	516	547	580
Net Debt	594	516	453	510	470	504	432	369	352	373	203
Capital Expenditures (CapEx)	0.45	0.44	0.70	0.10	0.08	0.51	0.38	0.18	0.07	0.81	0.32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	207	210	223	196	165	138	126	121	124	127	227
Debt-free Net Working Capital (DFNWC)	421	397	438	372	319	295	258	270	537	294	604
Net Working Capital (NWC)	287	269	310	323	269	245	208	-18	254	268	576
Net Nonoperating Expense (NNE)	16	11	9.93	10	9.29	11	9.61	7.72	8.14	11	2.42
Net Nonoperating Obligations (NNO)	594	516	453	510	470	504	432	369	352	373	203
Total Depreciation and Amortization (D&A)	35	35	35	38	40	40	41	42	42	43	42
Debt-free, Cash-free Net Working Capital to Revenue	17.88%	19.60%	21.09%	19.17%	16.42%	14.50%	14.59%	15.11%	16.13%	15.06%	23.04%
Debt-free Net Working Capital to Revenue	36.34%	37.03%	41.34%	36.37%	31.64%	31.05%	30.02%	33.74%	69.70%	34.86%	61.28%
Net Working Capital to Revenue	24.72%	25.14%	29.30%	31.52%	26.69%	25.79%	24.19%	-2.25%	33.02%	31.80%	58.42%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.00	$2.71	$2.95	$2.93	$1.85	$0.72	$1.00	$1.25	$1.43	$2.59	$5.78
Adjusted Weighted Average Basic Shares Outstanding	48.86M	48.98M	48.97M	49.39M	49.54M	49.27M	49.31M	49.32M	49.35M	49.34M	49.46M
Adjusted Diluted Earnings per Share	$1.99	$2.68	$2.92	$2.91	$1.84	$0.71	$1.00	$1.25	$1.42	$2.56	$5.75
Adjusted Weighted Average Diluted Shares Outstanding	49.28M	49.43M	49.38M	49.72M	49.88M	49.68M	49.53M	49.48M	49.61M	49.60M	49.71M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	48.91M	48.93M	49.37M	49.69M	49.19M	49.19M	49.34M	49.37M	49.39M	49.43M	49.50M
Normalized Net Operating Profit after Tax (NOPAT)	114	119	108	89	61	38	34	41	46	91	140
Normalized NOPAT Margin	47.24%	47.42%	39.38%	34.52%	27.19%	19.35%	18.76%	20.80%	23.18%	34.11%	43.10%
Pre Tax Income Margin	40.54%	54.07%	52.66%	56.22%	40.72%	17.85%	27.03%	31.51%	35.92%	47.44%	90.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.83	10.63	12.21	12.65	8.34	3.92	5.33	7.32	8.33	11.71	32.50
NOPAT to Interest Expense	6.78	10.19	11.98	12.46	8.08	3.90	5.17	7.11	8.18	11.64	32.21
EBIT Less CapEx to Interest Expense	6.80	10.60	12.16	12.64	8.33	3.88	5.30	7.30	8.32	11.64	32.47
NOPAT Less CapEx to Interest Expense	6.76	10.16	11.93	12.45	8.07	3.86	5.13	7.09	8.17	11.57	32.17
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	46.99%	55.38%	51.96%	54.34%	55.85%	68.25%	79.01%	82.50%	74.07%	46.76%	39.67%
Augmented Payout Ratio	49.16%	57.89%	51.96%	54.34%	60.73%	74.25%	79.01%	82.50%	74.07%	46.76%	39.67%

Financials Breakdown Chart

Key Financial Trends

Here are the 10 most important takeaways from International Seaways (NYSE: INSW) quarterly results over the last four years, focusing on trend signals from the income statement, cash flow, and balance sheet data provided (most recent quarters: Q1–Q4 2025, plus prior years).

Q4 2025 Operating Revenue rose to 267,879,000, up sharply from earlier 2025 quarters (Q3 2025 was 196,388,000), signaling a strong end to the year.
Q4 2025 Net Income Attributable to Common Shareholders totaled 127,504,000, up from 35,823,000 in Q4 2024, highlighting a significant quarterly profitability boost.
Q4 2025 Basic EPS was 2.59 and Diluted EPS was 2.56, supported by ~49.43 million shares outstanding (basic/diluted).
Q4 2025 Net Cash From Continuing Operating Activities reached 146,001,000, indicating robust operating cash generation in the quarter.
Balance sheet snapshot: Total Assets around 2.79 billion and Total Equity near 1.93 billion as of the latest reported period (Q3 2025), giving a sizable equity cushion relative to liabilities.
Total Cost of Revenue is recorded as 0 in several quarters (notably Q3–Q4 2025), which may reflect data reporting choices or timing rather than a true zero-cost structure.
Long-Term Debt sits around the 518 million level by Q4 2025, indicating modest debt growth within the quarter and a balanced liability mix.
Net Cash From Financing Activities in Q4 2025 was -274,856,000, signaling substantial financing outflows (debt repayments and other financing activities) that offset operating cash flow.
Net Change in Cash & Equivalents for Q4 2025 was -295,647,000, reflecting the combined headwinds from investing and financing activities despite solid operating cash flow.
Other Financing Activities, net in Q4 2025 totaled -267,146,000, a large drag on cash flow from financing that adds to the headwinds from the quarter.

05/18/26 03:05 PM ETAI Generated. May Contain Errors.

International Seaways Financials - Frequently Asked Questions

According to the most recent income statement we have on file, International Seaways' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

International Seaways' net income appears to be on an upward trend, with a most recent value of $309.26 million in 2025, rising from $0.00 in 2015. The previous period was $416.72 million in 2024. See where experts think International Seaways is headed by visiting International Seaways' forecast page.

International Seaways' total operating income in 2025 was $345.39 million, based on the following breakdown:

Total Gross Profit: $843.30 million
Total Operating Expenses: $497.92 million

Over the last 10 years, International Seaways' total revenue changed from $0.00 in 2015 to $843.30 million in 2025, a change of 84,330,200,000.0%.

International Seaways' total liabilities were at $648.37 million at the end of 2025, a 16.9% decrease from 2024, and a 0.3% increase since 2015.

In the past 10 years, International Seaways' cash and equivalents has ranged from $58.31 million in 2018 to $308.86 million in 2015, and is currently $116.92 million as of their latest financial filing in 2025.

Over the last 10 years, International Seaways' book value per share changed from 0.00 in 2015 to 40.90 in 2025, a change of 4,090.1%.

Related Companies

Financial statements for NYSE:INSW last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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International Seaways (INSW) Financials

Financials Breakdown Chart

Key Financial Trends

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International Seaways (INSW) Financials

Annual Income Statements for International Seaways

Quarterly Income Statements for International Seaways

Annual Cash Flow Statements for International Seaways

Quarterly Cash Flow Statements for International Seaways

Annual Balance Sheets for International Seaways

Quarterly Balance Sheets for International Seaways

Annual Metrics And Ratios for International Seaways

Quarterly Metrics And Ratios for International Seaways

Financials Breakdown Chart

Key Financial Trends

International Seaways Financials - Frequently Asked Questions

When does International Seaways' financial year end?

How has International Seaways' net income changed over the last 10 years?

What is International Seaways' operating income?

How has International Seaways' revenue changed over the last 10 years?

How much debt does International Seaways have?

How much cash does International Seaways have?

How has International Seaways' book value per share changed over the last 10 years?

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