Tearsheet

International Seaways (INSW)

Market Price (4/18/2026): $76.48 | Market Cap: $3.8 Bil
Sector: Energy | Industry: Oil & Gas Storage & Transportation

International Seaways (INSW)

Market Price (4/18/2026): $76.48
Market Cap: $3.8 Bil
Sector: Energy
Industry: Oil & Gas Storage & Transportation

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 3.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.0%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 45%

Low stock price volatility
Vol 12M is 37%

Megatrend and thematic drivers
Megatrends include Global Energy Supply Chain. Themes include Crude Oil Shipping, Refined Product Transportation, and Maritime Logistics for Energy.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Stock price has recently run up significantly
12M Rtn12 month market price return is 148%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -11%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.5%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 52%

Key risks
INSW key risks include [1] significant earnings volatility stemming from its high (86%) exposure to the spot market and [2] potential downward pressure on charter rates from a projected wave of product-tanker deliveries between 2025 and 2027.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 3.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.0%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 45%
2	Low stock price volatility Vol 12M is 37%
3	Megatrend and thematic drivers Megatrends include Global Energy Supply Chain. Themes include Crude Oil Shipping, Refined Product Transportation, and Maritime Logistics for Energy.
4	Trading close to highs Dist 52W High is 0.0%, Dist 3Y High is 0.0%
5	Stock price has recently run up significantly 12M Rtn12 month market price return is 148%
6	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -11%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.5%
7	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 52%
8	Key risks INSW key risks include [1] significant earnings volatility stemming from its high (86%) exposure to the spot market and [2] potential downward pressure on charter rates from a projected wave of product-tanker deliveries between 2025 and 2027.

Valuation, Metrics & Events

	4/18/26	2025	2024	2023	2022
Share Price CYE	$76.48	$48.55	$35.94	$45.48	$37.02
Market Cap CYE ($ Bil)	3.8	2.4	1.8	2.2	1.8
Total Debt ($ Bil)	0.6	0.6	0.7	0.7	1.1
Total Cash ($ Bil)	0.2	0.2	0.2	0.2	0.3
Enterprise Value ($ Bil)	4.2	3.0	2.5	2.9	2.9
Valuation Ratios
P/S TTM	4.5	2.8	1.9	2.1	2.1
P/EBIT TTM	10.7	6.8	3.8	3.6	4.1
P/E TTM	12.2	7.7	4.2	4.0	4.7
P/FCF TTM	99.0	62.8	6.7	4.6	10.6
Sector Ratios
P/S TTM (Sector)	1.8	1.4	1.5	1.5	1.3
P/EBIT TTM (Sector)	9.2	6.9	6.6	5.9	4.0
P/E TTM (Sector)	12.8	10.4	10.3	8.1	5.3
P/FCF TTM (Sector)	11.1	8.1	6.9	7.5	5.1

	4/18/26	2025	2024
Share Price CYE	$76.48	$48.55	$35.94
Market Cap CYE ($ Bil)	3.8	2.4	1.8
Total Debt ($ Bil)	0.6	0.6	0.7
Total Cash ($ Bil)	0.2	0.2	0.2
Enterprise Value ($ Bil)	4.2	3.0	2.5
Valuation Ratios
P/S TTM	4.5	2.8	1.9
P/EBIT TTM	10.7	6.8	3.8
P/E TTM	12.2	7.7	4.2
P/FCF TTM	99.0	62.8	6.7
Sector Ratios
P/S TTM (Sector)	1.8	1.4	1.5
P/EBIT TTM (Sector)	9.2	6.9	6.6
P/E TTM (Sector)	12.8	10.4	10.3
P/FCF TTM (Sector)	11.1	8.1	6.9

	INSW	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	0.8
Rev Chg Q	37.6%	7.5%
Rev Chg LTM	-11.4%	6.8%
Rev Chg 3Y Avg	0.5%	5.7%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	0.3
CFO LTM ($ Bil)	0.4
Net Inc LTM ($ Bil)	0.3
Op Mgn LTM	36.3%	18.6%
CFO/Rev LTM	45.1%	20.6%
Net Inc Mgn	36.7%	12.8%
VALUATION	MODERATE
P/S	4.5	3.3
P/CFO	9.9	15.7
P/FCF	99.0	20.3
P/E	12.2	24.3
STABILITY	GOOD
Debt/Equity	0.15	0.20
Cash/Assets	0.06	0.07

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Metric	Value	Date	Source
Fleet Size	77	11062025	Link
VLCC Fleet	11	11062025	Link
Suezmax Fleet	13	11062025	Link
Aframax/LR2 Fleet	5	11062025	Link
LR1 Fleet	12	11062025	Link
MR Tanker Fleet	36	11062025	Link
Average Fleet Age	about 10 years	11072025	Link
Number of Vessels on Time Charter	14	10012025	Link
Average Duration of Time Charters	1.5 years	10012025	Link
Total Future Contracted Revenues from Time Charters	approximately $229 million	10012025	Link
Average Spot TCE - Suezmax	$33,300 per day	9302025	Link
Average Spot TCE - LR1	$34,600 per day	9302025	Link
Average Spot TCE - MR	$25,600 per day	9302025	Link
Spot Breakeven Rate	about $13,500 per day	11062025	Link
Number of Newbuilds on Order	4	11062025	Link
Number of Unencumbered Vessels	31	11072025	Link

Upcoming
5/14/2026	Earnings Release	Rev: $268 Mil (E) EPS: $2.32 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

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International Seaways (INSW) stock has gained about 60% since 12/31/2025 because of the following key factors:

1. International Seaways exceeded Q4 2025 earnings expectations and provided a strong outlook for Q1 2026, driving investor confidence.

The company reported a net income of $128 million, or $2.56 per diluted share, for the fourth quarter of 2025, with adjusted net income of $122 million, or $2.45 per diluted share, significantly beating analyst estimates of $1.94 by 26.29%. Revenue also surpassed forecasts by 14%, reaching $267.88 million. Furthermore, management projected a robust Q1 2026 blended average spot TCE of approximately $50,900 per day for 71% of its expected revenue, a substantial increase from the $40,400 per day reported in Q3.

2. The company demonstrated a strong commitment to shareholder returns through a record dividend and ongoing share repurchase program.

International Seaways declared its largest ever quarterly dividend, a combined $2.15 per share (regular and supplemental) for Q4 2025, representing an 87% payout ratio of adjusted net income, payable in March 2026. This initiative follows a history of returning over $1 billion to shareholders since 2020. The company also highlighted its active $50 million share repurchase program, which remains in effect until the end of 2026.

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Stock Movement Drivers

Fundamental Drivers

The 62.4% change in INSW stock from 12/31/2025 to 4/17/2026 was primarily driven by a 29.8% change in the company's Net Income Margin (%).

(LTM values as of)	12312025	4172026	Change
Stock Price ($)	47.09	76.47	62.4%
Change Contribution By:
Total Revenues ($ Mil)	770	843	9.5%
Net Income Margin (%)	28.3%	36.7%	29.8%
P/E Multiple	10.7	12.2	14.3%
Shares Outstanding (Mil)	49	49	0.0%
Cumulative Contribution			62.4%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 4/17/2026

	Return	Correlation
INSW	62.4%
Market (SPY)	-5.4%	28.2%
Sector (XLE)	23.1%	1.8%

Fundamental Drivers

The 74.0% change in INSW stock from 9/30/2025 to 4/17/2026 was primarily driven by a 34.4% change in the company's P/E Multiple.

(LTM values as of)	9302025	4172026	Change
Stock Price ($)	43.95	76.47	74.0%
Change Contribution By:
Total Revenues ($ Mil)	799	843	5.6%
Net Income Margin (%)	29.9%	36.7%	22.7%
P/E Multiple	9.1	12.2	34.4%
Shares Outstanding (Mil)	49	49	-0.1%
Cumulative Contribution			74.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 4/17/2026

	Return	Correlation
INSW	74.0%
Market (SPY)	-2.9%	20.2%
Sector (XLE)	24.2%	14.1%

Fundamental Drivers

The 149.4% change in INSW stock from 3/31/2025 to 4/17/2026 was primarily driven by a 237.3% change in the company's P/E Multiple.

(LTM values as of)	3312025	4172026	Change
Stock Price ($)	30.66	76.47	149.4%
Change Contribution By:
Total Revenues ($ Mil)	952	843	-11.4%
Net Income Margin (%)	43.8%	36.7%	-16.3%
P/E Multiple	3.6	12.2	237.3%
Shares Outstanding (Mil)	49	49	-0.4%
Cumulative Contribution			149.4%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2025 to 4/17/2026

	Return	Correlation
INSW	149.4%
Market (SPY)	16.3%	30.7%
Sector (XLE)	20.7%	35.0%

Fundamental Drivers

The 155.0% change in INSW stock from 3/31/2023 to 4/17/2026 was primarily driven by a 221.9% change in the company's P/E Multiple.

(LTM values as of)	3312023	4172026	Change
Stock Price ($)	29.99	76.47	155.0%
Change Contribution By:
Total Revenues ($ Mil)	865	843	-2.5%
Net Income Margin (%)	44.9%	36.7%	-18.3%
P/E Multiple	3.8	12.2	221.9%
Shares Outstanding (Mil)	49	49	-0.6%
Cumulative Contribution			155.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2023 to 4/17/2026

	Return	Correlation
INSW	155.0%
Market (SPY)	63.3%	23.3%
Sector (XLE)	45.5%	34.9%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
INSW Return	-3%	163%	43%	-11%	45%	61%	655%
Peers Return	-4%	199%	34%	-14%	26%	52%	531%
S&P 500 Return	27%	-19%	24%	23%	16%	3%	87%
Monthly Win Rates [3]
INSW Win Rate	50%	67%	67%	42%	83%	75%
Peers Win Rate	42%	73%	53%	35%	62%	65%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
INSW Max Drawdown	-9%	-6%	-10%	-20%	-18%	-4%
Peers Max Drawdown	-11%	-9%	-13%	-19%	-17%	-3%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-7%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: STNG, DHT, TNK, NAT, ASC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/17/2026 (YTD)

How Low Can It Go

Unique Key	Event	INSW	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-36.3%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	57.1%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	84 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-57.9%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	137.4%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	670 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-38.6%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	62.8%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	63 days	120 days

Compare to STNG, DHT, TNK, NAT, ASC

In The Past

International Seaways's stock fell -36.3% during the 2022 Inflation Shock from a high on 3/17/2021. A -36.3% loss requires a 57.1% gain to breakeven.

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About International Seaways (INSW)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

International Seaways, Inc. owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments, Crude Tankers and Product Carriers. As of December 31, 2021, the company owned and operated a fleet of 83 vessels, which include 12 chartered-in vessels, as well as had ownership interests in two floating storage and offloading service vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities. The company was formerly known as OSG International, Inc. and changed its name to International Seaways, Inc. in October 2016. International Seaways, Inc. was incorporated in 1999 and is headquartered in New York, New York.

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Here are 1-2 brief analogies for International Seaways (INSW):

Imagine a **Maersk** that specializes exclusively in shipping crude oil and petroleum products around the world in giant tankers.
They're like the **Kinder Morgan** of the oceans, using a massive fleet of ships as their 'pipelines' to transport energy products globally.

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Crude Oil Transportation: Providing shipping services for the global movement of unrefined crude oil.
Petroleum Products Transportation: Offering shipping services for the global movement of refined petroleum products.
Floating Storage and Offloading (FSO) Services: Supplying offshore storage and transfer solutions for oil and gas production facilities.

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International Seaways (INSW) primarily serves other companies and entities. While specific names of major customers are typically not publicly disclosed due to the nature of their business and contractual agreements, the company's customer base falls into the following categories:

Independent oil companies
State-owned oil companies
Oil traders
Refinery operators
International government entities

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Hyundai Heavy Industries Co., Ltd. (KRX: 329180)

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Lois K. Zabrocky, President and Chief Executive Officer

Lois K. Zabrocky has over 30 years of experience in the shipping industry, with the majority of her career at International Seaways and its predecessor, Overseas Shipholding Group (OSG), which she joined in 1992. Before becoming President and CEO of International Seaways upon its spin-off from OSG in November 2016, she held various senior management positions at OSG, including Senior Vice President for OSG's International Flag strategic business unit, Chief Commercial Officer, and Head of the International Product Carrier and Gas Strategic Business Units. Ms. Zabrocky orchestrated a strategic growth plan that expanded the product carrier fleet from 26 to 50 vessels and also served as Vice President for commercial operations of Aframax International, a pool of 35 Aframax tankers, where she expanded membership, size, and profitability. She began her maritime career sailing as a third mate aboard a U.S. flag chemical tanker and has completed the Harvard Business School Strategic Negotiations and Finance for Senior Executives courses.

Jeffrey D. Pribor, Senior Vice President and Chief Financial Officer

Jeffrey D. Pribor joined International Seaways in November 2016. Prior to this, he was Global Head of Maritime Investment Banking at Jefferies & Company, Inc. Mr. Pribor previously served as Executive Vice President and Chief Financial Officer of General Maritime Corporation, a prominent tanker shipping company, from September 2004 to February 2013. During his tenure at General Maritime, he was involved in a successful hostile takeover defense, a leveraged recapitalization, and a major financial restructuring. His earlier career included roles as Managing Director and President of DnB NOR Markets, Inc. (2002-2004), Managing Director and Group Head of Transportation Banking at ABN AMRO, Inc. (2001-2002), and Managing Director and Sector Head of Transportation and Logistics investment banking for ING Barings (1996-2001). He also spent over 10 years in the mergers and acquisitions group at Merrill Lynch and worked as an attorney.

James D. Small III, Chief Administrative Officer, Senior Vice President, Secretary and General Counsel

James D. Small III has nearly 30 years of experience in transactional, governance, and other legal matters. Before his current role at International Seaways, he was Senior Vice President, Secretary, and General Counsel of Overseas Shipholding Group (OSG), a position he took in March 2015. Prior to joining OSG, Mr. Small was a counsel at Cleary Gottlieb Steen & Hamilton LLP since 1996, where his practice focused on corporate and financing transactions, U.S. securities law, capital markets, mergers and acquisitions, and corporate governance. He worked in the firm's New York, London, and Hong Kong offices. Before his legal career, he worked as an analyst at the Central Intelligence Agency from 1990 to 1993.

William Nugent, Senior Vice President and Chief Technical and Sustainability Officer

William Nugent has served as Senior Vice President and Chief Technical and Sustainability Officer since 2014. Previously, he was responsible for the Technical Services Group, OSG's global engineering team. Mr. Nugent joined OSG in 2006 as Assistant Vice President for New Construction, was promoted to head of department in 2008, and has overseen the construction of more than 50 vessels in China, Korea, and the United States. His earlier career included roles as Director of Basic Design and Project Manager for Alion Science and Technology and John J. McMullen Associates, Inc.

Derek Solon, Senior Vice President and Chief Commercial Officer

Derek Solon was Vice President, Commercial of OSG since 2014 and joined OSG in 2012 as Vice President for Sale & Purchase for the international flag fleet. Prior to his time at OSG, he worked as a Marine Project Broker at Poten & Partners in New York. Before entering the commercial shipping industry, Mr. Solon served as an officer in the United States Navy from 1998-2003.

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Key Risks to International Seaways (INSW)

International Seaways, Inc. (INSW) faces several key risks inherent to the global crude oil and petroleum product transportation industry. These risks primarily stem from the volatile nature of the shipping market, geopolitical events, and evolving regulatory landscapes.

Market Cyclicality and Volatility: The shipping industry is highly cyclical, leading to significant fluctuations in charter rates and vessel values. As a substantial portion of International Seaways' revenue is derived from the spot market, its earnings and cash flow are highly susceptible to these volatile changes. Periods of oversupply in vessel capacity or decreased demand for seaborne oil transport can severely depress rates and asset values, negatively impacting the company's financial performance.
Geopolitical Instability and Operational Risks: International Seaways operates in a global environment susceptible to geopolitical tensions, conflicts, and trade disputes. Disruptions in key maritime passages, such as the Strait of Hormuz, due to political instability can lead to rerouting, increased voyage durations, higher fuel costs, and elevated war-risk insurance premiums. Furthermore, the inherent dangers of shipping, including marine disasters, piracy, and mechanical failures, pose operational risks that may result in damages, losses, or liabilities not fully covered by insurance.
Regulatory and Environmental Compliance: The global shipping industry is subject to complex and increasingly stringent environmental regulations, particularly those aimed at reducing greenhouse gas emissions. Compliance with these evolving laws can necessitate significant capital expenditures for fleet modernization, including investments in new dual-fuel vessels or exhaust gas cleaning systems, and can increase operating costs. Changes in regulations can also affect the resale value of older, less compliant vessels and potentially impact the company's ability to operate in certain trades, thereby influencing its competitive position and profitability.

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International Seaways (INSW) operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products. The addressable markets for their main services are for crude oil tanker shipping and petroleum product tanker shipping.

Global Crude Oil Tanker Shipping Market: The global Crude Oil Carriers Market was valued at USD 257.37 billion in 2024. This market is projected to grow at a compound annual growth rate (CAGR) of 4.2% from 2025 to 2032, reaching nearly USD 357.68 billion.
Global Petroleum Product Tanker Shipping Market: Information on the standalone global market size for petroleum product tanker shipping (product carriers) is not distinctly available in the provided search results. While some reports mention "tanker shipping" including refined products, they often combine it with crude oil and other liquid cargoes, or provide future projections rather than current market valuations for just product tankers. Therefore, a specific, current market size for this segment cannot be identified.

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International Seaways (INSW) is expected to drive revenue growth over the next two to three years through several key factors:

Sustained Strong Tanker Market Conditions: The company anticipates continued strength in tanker markets, influenced by ongoing geopolitical tensions and supply-demand imbalances. This environment has supported high spot earnings across various vessel classes, with strong rates observed for VLCCs, LR1, Suezmax, and Aframax tankers, directly contributing to increased revenue per voyage.
Fleet Modernization and Expansion with Newbuild Deliveries: International Seaways is actively modernizing its fleet. The delivery of the remaining four LR1 newbuilds, scheduled for 2026, is a significant driver, as these vessels already carry approximately $210 million in contracted revenue over an average 1.4-year time charter period. The company also acquired the VLCC Seaways Gibbs Hill, adding modern crude tonnage to its fleet.
Consolidation of Tankers International (TI) Ownership: The company's full ownership of Tankers International (TI) enhances its competitive standing within the VLCC pool market. This strategic consolidation is poised to strengthen its position and potentially increase revenue generation from its VLCC operations.
High Fleet Utilization and Contracted Revenue: International Seaways has demonstrated high fleet utilization by securing attractive rates for a significant portion of its capacity. For instance, as of February 20, 2026, 71% of its blended fleet capacity was fixed at approximately $50,900 per day for the first quarter of 2026, including 90% of VLCC bookings at $71,800 per day, ensuring a robust and predictable revenue stream.

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Share Repurchases

International Seaways announced a $50 million share repurchase program, with approximately $25 million remaining as of September 2024.
The $50 million share repurchase program was extended through the end of 2026.

Share Issuance

In July 2021, International Seaways completed a merger with Diamond S Shipping Inc. in a stock-for-stock transaction, resulting in pre-merger INSW shareholders owning approximately 55.75% and former Diamond S Shipping stockholders owning approximately 44.25% of the combined company.

Outbound Investments

International Seaways completed a merger with Diamond S Shipping Inc. in July 2021, which significantly expanded its fleet by adding 64 modern vessels.
In February 2026, the company consolidated ownership of Tankers International by acquiring the remaining 50% interest, expanding into a new Suezmax pool.
In August 2025, International Seaways agreed to purchase a 2020-built, scrubber-fitted VLCC for $119 million.

Capital Expenditures

During 2025, International Seaways invested $426.1 million in vessels, upgrades, construction, and drydocking.
The company has an ongoing LR1 newbuild program, with six scrubber-fitted, dual-fuel ready LR1 vessels under construction in Korea at an aggregate contract price of approximately $359 million.
As of December 31, 2025, approximately $188 million in remaining construction costs for the newbuilds were expected, with deliveries ranging from the second half of 2025 through the third quarter of 2026.

Interactive Breakdown

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Better Bets vs. International Seaways (INSW)

INDUSTRY: Oil & Gas Storage & Transportation

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Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for INSW: 0.5% | 12.3x)

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VNOM (20.5% | 12.2x)

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Higher Rev Chg LTM (Value for INSW: -11.4%)

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Williams Companies

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Higher Rev Chg 3Y Avg (Value for INSW: 0.5%)

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DTM (11.1%)

DT Midstream

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TRP (7.4%)

TC Energy

WMB (3.2%)

Williams Companies

Higher Op Mgn LTM (Value for INSW: 36.3%)

DTM (49.4%)

DT Midstream

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Cheniere Energy

TRP (44.4%)

TC Energy

VG (37.4%)

Venture Global

WMB (36.9%)

Williams Companies

Higher CFO/Rev LTM (Value for INSW: 45.1%)

AM (74.1%)

Antero Midstream

DTM (69.8%)

DT Midstream

WMB (49.4%)

Williams Companies

TRP (48.2%)

TC Energy

VG (47.7%)

Venture Global

Higher FCF/Rev LTM (Value for INSW: 4.5%)

KMI (17.1%)

Kinder Morgan

TRP (13.5%)

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LNG (12.3%)

Cheniere Energy

WMB (7.5%)

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ENB (4.8%)

Enbridge

Higher Total Yield (Value for INSW: 12.0%)

HESM (14.3%)

Hess Midstream

ENB (13.7%)

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PBA (13.5%)

Pembina Pipeline

SOBO (12.7%)

South Bow

PAGP (12.5%)

Plains GP

SECTOR: Energy

Higher Rev Chg 3Y Avg | Lower P/S (Values for INSW: 0.5% | 4.5x)

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SLB (8.6% | 2.2x)

SLB

TRP (7.4% | 4.1x)

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BKR (9.8% | 2.1x)

Baker Hughes

OKE (18.9% | 1.6x)

ONEOK

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for INSW: 0.5% | 12.3x)

ENB (8.8% | 10.0x)

Enbridge

TRP (7.4% | 9.3x)

TC Energy

OKE (18.9% | 9.0x)

ONEOK

FANG (18.3% | 10.5x)

Diamondback Energy

EQT (1.6% | 12.1x)

EQT

Higher Rev Chg LTM (Value for INSW: -11.4%)

ENB (21.9%)

Enbridge

COP (7.7%)

ConocoPhillips

CNQ (6.4%)

Canadian Natural Resources

XOM (-4.5%)

Exxon Mobil

CVX (-4.6%)

Chevron

Higher Rev Chg 3Y Avg (Value for INSW: 0.5%)

BKR (9.8%)

Baker Hughes

ENB (8.8%)

Enbridge

SLB (8.6%)

SLB

TRP (7.4%)

TC Energy

WMB (3.2%)

Williams Companies

Higher Op Mgn LTM (Value for INSW: 36.3%)

TPL (74.2%)

Texas Pacific Land

LNG (45.6%)

Cheniere Energy

TRP (44.4%)

TC Energy

VG (37.4%)

Venture Global

WMB (36.9%)

Williams Companies

Higher CFO/Rev LTM (Value for INSW: 45.1%)

EQT (61.4%)

EQT

FANG (58.7%)

Diamondback Energy

WMB (49.4%)

Williams Companies

OXY (48.8%)

Occidental Petroleum

TRP (48.2%)

TC Energy

Higher FCF/Rev LTM (Value for INSW: 4.5%)

CNQ (19.0%)

Canadian Natural Resources

COP (12.3%)

ConocoPhillips

CVX (9.0%)

Chevron

XOM (7.3%)

Exxon Mobil

ENB (4.8%)

Enbridge

Higher Total Yield (Value for INSW: 12.0%)

CNQ (17.5%)

Canadian Natural Resources

APA (14.2%)

APA

ENB (13.7%)

Enbridge

PBA (13.5%)

Pembina Pipeline

MTDR (12.7%)

Matador Resources

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for INSW: 0.5% | 4.5x)

AMZN (11.7% | 3.7x)

Amazon.com

BRK-B (27.0% | 2.5x)

Berkshire Hathaway

WMT (5.3% | 1.4x)

Walmart

COST (6.9% | 1.6x)

Costco Wholesale

BAC (6.0% | 3.5x)

Bank of America

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for INSW: 0.5% | 12.3x)

TMUS (3.6% | 11.8x)

T-Mobile US

T (1.3% | 7.5x)

AT&T

BUD (0.9% | 9.5x)

Anheuser-Busch InBev SA/NV

QCOM (2.3% | 11.9x)

Qualcomm

NEM (26.2% | 11.5x)

Newmont

Higher Rev Chg LTM (Value for INSW: -11.4%)

NVDA (65.5%)

NVIDIA

MSFT (16.7%)

Microsoft

GOOGL (15.1%)

Alphabet

AMZN (12.4%)

Amazon.com

AAPL (10.1%)

Apple

Higher Rev Chg 3Y Avg (Value for INSW: 0.5%)

NVDA (101.8%)

NVIDIA

MSFT (14.4%)

Microsoft

GOOGL (12.5%)

Alphabet

AMZN (11.7%)

Amazon.com

AAPL (4.1%)

Apple

Higher Op Mgn LTM (Value for INSW: 36.3%)

NVDA (60.4%)

NVIDIA

MSFT (46.7%)

Microsoft

LLY (45.6%)

Eli Lilly

AVGO (41.5%)

Broadcom

META (41.4%)

Meta Platforms

Higher CFO/Rev LTM (Value for INSW: 45.1%)

V (59.1%)

Visa

META (57.6%)

Meta Platforms

MU (52.7%)

Micron Technology

MSFT (52.5%)

Microsoft

NVDA (47.6%)

NVIDIA

Higher FCF/Rev LTM (Value for INSW: 4.5%)

NVDA (44.8%)

NVIDIA

AVGO (42.3%)

Broadcom

AAPL (28.3%)

Apple

MSFT (25.3%)

Microsoft

GOOGL (18.2%)

Alphabet

Higher Total Yield (Value for INSW: 12.0%)

CMCSA (23.1%)

Comcast

VZ (14.6%)

Verizon Communications

MO (12.9%)

Altria

BNS (12.3%)

Bank of Nova Scotia

TD (12.3%)

Toronto-Dominion Bank

Best Bets in Energy

What You Pay

P/EBIT (Value for INSW: 10.7x)

AM (13.4x)

Antero Midstream

MGY (11.5x)

Magnolia Oil & Gas

DTM (18.0x)

DT Midstream

INSW (10.7x)

International Seaways

WHD (13.8x)

Cactus

CRC (8.7x)

California Resources

EQT (10.7x)

EQT

CTRA (9.5x)

Coterra Energy

LNG (5.8x)

Cheniere Energy

WMB (17.1x)

Williams Companies

P/E (Value for INSW: 12.2x)

AM (24.5x)

Antero Midstream

MGY (15.5x)

Magnolia Oil & Gas

DTM (30.9x)

DT Midstream

INSW (12.2x)

International Seaways

WHD (21.9x)

Cactus

CRC (14.6x)

California Resources

EQT (17.9x)

EQT

CTRA (13.7x)

Coterra Energy

LNG (10.1x)

Cheniere Energy

WMB (33.2x)

Williams Companies

What You Get

Rev Chg 3Y Avg (Value for INSW: 0.5%)

AM (8.4%)

Antero Midstream

MGY (-6.9%)

Magnolia Oil & Gas

DTM (11.1%)

DT Midstream

INSW (0.5%)

International Seaways

WHD (19.3%)

Cactus

CRC (2.3%)

California Resources

EQT (1.6%)

EQT

CTRA (-0.8%)

Coterra Energy

LNG (-11.6%)

Cheniere Energy

WMB (3.2%)

Williams Companies

Rev Chg LTM (Value for INSW: -11.4%)

AM (7.0%)

Antero Midstream

MGY (-0.3%)

Magnolia Oil & Gas

DTM (26.7%)

DT Midstream

INSW (-11.4%)

International Seaways

WHD (-4.5%)

Cactus

CRC (15.4%)

California Resources

EQT (60.0%)

EQT

CTRA (40.1%)

Coterra Energy

LNG (27.2%)

Cheniere Energy

WMB (13.8%)

Williams Companies

Rev Chg Q (Value for INSW: 37.6%)

AM (3.1%)

Antero Midstream

MGY (-2.7%)

Magnolia Oil & Gas

DTM (27.3%)

DT Midstream

INSW (37.6%)

International Seaways

WHD (-4.0%)

Cactus

CRC (-13.8%)

California Resources

EQT (25.8%)

EQT

CTRA (40.4%)

Coterra Energy

LNG (22.9%)

Cheniere Energy

WMB (16.6%)

Williams Companies

FCF/Rev 3Y Avg (Value for INSW: 25.7%)

AM (55.3%)

Antero Midstream

MGY (33.1%)

Magnolia Oil & Gas

DTM (26.8%)

DT Midstream

INSW (25.7%)

International Seaways

WHD (24.0%)

Cactus

CRC (23.2%)

California Resources

EQT (22.6%)

EQT

CTRA (22.2%)

Coterra Energy

LNG (21.1%)

Cheniere Energy

WMB (20.1%)

Williams Companies

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 5.4%, alpha of -0.1%, and sharpe of 0.25

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	INSW Stock (+12%): Tanker Seizure Ignites Speculative Bid	01/08/2026
2	International Seaways Earnings Notes	12/25/2025
3	International Seaways Stock Drop Looks Sharp, But How Deep Can It Go?	10/17/2025
4	Why International Seaways Stock Moved: INSW Stock Has Gained 383% Since 2021 Fiscal End, Primarily Due To Favorable Change In Revenues	08/08/2025
5	INSW Dip Buy Analysis	07/10/2025
6	Should You Buy International Seaways Stock?	05/16/2025
7	International Seaways (INSW) Valuation Ratios Comparison	05/15/2025
8	International Seaways Total Shareholder Return (TSR): 0.0% in 2024 and 62.3% 3-yr compounded annual returns (above peer average)	03/07/2025
9	ARTICLES
10	Small Cap Stocks Trading At 52-Week High	01/14/2026

	Title
0	DASHBOARDS
1	INSW Stock (+12%): Tanker Seizure Ignites Speculative Bid
2	International Seaways Earnings Notes
3	International Seaways Stock Drop Looks Sharp, But How Deep Can It Go?
4	Why International Seaways Stock Moved: INSW Stock Has Gained 383% Since 2021 Fiscal End, Primarily Due To Favorable Change In Revenues
5	INSW Dip Buy Analysis
6	Should You Buy International Seaways Stock?
7	International Seaways (INSW) Valuation Ratios Comparison
8	International Seaways Total Shareholder Return (TSR): 0.0% in 2024 and 62.3% 3-yr compounded annual returns (above peer average)
9	ARTICLES
10	Small Cap Stocks Trading At 52-Week High

Trade Ideas

Select ideas related to INSW.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
KGS_3312026_Insider_Buying_45D_2Buy_200K	03312026	KGS	Kodiak Gas Services	Insider	Insider Buys 45DStrong Insider Buying Companies with multiple insider buys in the last 45 days	0.0%	0.0%	0.0%
KOS_3312026_Insider_Buying_45D_2Buy_200K	03312026	KOS	Kosmos Energy	Insider	Insider Buys 45DStrong Insider Buying Companies with multiple insider buys in the last 45 days	0.0%	0.0%	0.0%
TPL_12262025_Dip_Buyer_ValueBuy	12262025	TPL	Texas Pacific Land	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	65.2%	65.2%	-2.1%
NOV_12122025_Insider_Buying_GTE_1Mil_EBITp+DE_V2	12122025	NOV	NOV	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	15.3%	15.3%	-6.5%
RIG_12122025_Insider_Buying_GTE_1Mil_EBITp+DE_V2	12122025	RIG	Transocean	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	60.5%	60.5%	-7.0%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AMC	AMC Entertainment	1.0	15.5%	19.2%
ABTC	American Bitcoin	1.2	15.0%	-23.5%
PLSE	Pulse Biosciences	1.6	14.1%	70.4%
BAND	Bandwidth	0.7	12.7%	48.9%
FBYD	Falcons Beyond Global	0.5	12.6%	-9.6%
MXL	MaxLinear	2.3	12.5%	50.7%
LION	Lionsgate Studios	3.6	12.5%	36.4%
ROAD	Construction Partners	7.0	12.0%	15.7%
MSTR	Strategy	49.0	11.8%	9.6%
KMTS	Kestra Medical Technologies	1.3	11.8%	-14.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
BMI	Badger Meter	3.4	-24.1%	-33.6%
PBF	PBF Energy	4.3	-12.8%	38.1%
DK	Delek US	2.2	-12.3%	26.4%
LYB	LyondellBasell Industries	21.3	-12.0%	54.9%
DOW	Dow	25.6	-10.8%	54.1%
IPI	Intrepid Potash	0.5	-10.4%	26.9%
CVI	CVR Energy	3.0	-10.4%	15.7%
PARR	Par Pacific	2.8	-10.0%	63.1%
NFLX	Netflix	411.5	-9.7%	3.8%
CF	CF Industries	17.6	-9.6%	46.5%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
AVNS	Avanos Medical	1.1	73.6%	119.2%
CAR	Avis Budget	17.4	64.7%	284.9%
IONQ	IonQ	16.0	60.1%	2.7%
RVMD	Revolution Medicines	28.9	54.1%	86.6%
QBTS	D-Wave Quantum	7.7	52.2%	-17.1%
NN	NextNav	3.1	49.4%	37.2%
HIMS	Hims & Hers Health	6.5	48.3%	-11.2%
TSHA	Taysha Gene Therapies	2.3	43.2%	16.9%
BAND	Bandwidth	0.7	42.6%	48.9%
SYRE	Spyre Therapeutics	5.4	42.3%	122.9%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
REPL	Replimune	0.2	-54.4%	-77.7%
IIIN	Insteel Industries	0.5	-28.0%	-17.1%
BMI	Badger Meter	3.4	-25.6%	-33.6%
SENEA	Seneca Foods	1.0	-16.2%	26.8%
HPK	HighPeak Energy	0.7	-15.7%	12.8%
REPX	Riley Exploration Permian	0.7	-15.4%	28.6%
LCID	Lucid	2.4	-14.9%	-30.9%
KMX	CarMax	6.0	-12.5%	5.8%
WINA	Winmark	1.4	-12.3%	-3.6%
ALLO	Allogene Therapeutics	0.5	-12.1%	74.5%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CAR	Avis Budget	17.4	386.5%	284.9%
SATL	Satellogic	0.9	134.1%	270.6%
AEHR	Aehr Test Systems	2.5	131.0%	315.4%
APLS	Apellis Pharmaceuticals	5.2	128.6%	62.8%
CBIO	Crescent Biopharma	0.6	105.6%	79.4%
KOD	Kodiak Sciences	2.4	103.4%	60.6%
FBYD	Falcons Beyond Global	0.5	103.1%	-9.6%
YSS	York Space Systems	4.5	96.3%	6.3%
FLY	Firefly Aerospace	7.0	88.5%	95.4%
LWLG	Lightwave Logic	1.7	88.0%	287.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
PIPR	Piper Sandler Cos	6.1	-69.4%	8.7%
REPL	Replimune	0.2	-67.9%	-77.7%
VRDN	Viridian Therapeutics	1.4	-46.6%	-52.4%
MAZE	Maze Therapeutics	1.3	-42.0%	-32.2%
BUR	Burford Capital	1.1	-39.7%	-44.4%
WVE	WAVE Life Sciences	1.4	-37.1%	-55.9%
TE	T1 Energy	0.8	-31.4%	-24.7%
BTU	Peabody Energy	3.1	-29.3%	-13.4%
CSIQ	Canadian Solar	0.9	-28.7%	-44.5%
LCID	Lucid	2.4	-26.6%	-30.9%

Peer Comparisons

Peers to compare with:

Financials

	INSW	STNG	DHT	TNK	NAT	ASC	Median
Name	Internat.	Scorpio .	DHT	Teekay T.	Nordic A.	Ardmore .
Mkt Price	76.47	75.21	18.32	75.29	6.03	15.89	46.77
Mkt Cap	3.8	3.5	2.9	2.6	1.3	0.6	2.8
Rev LTM	843	938	498	952	295	310	671
Op Inc LTM	306	310	172	215	17	53	194
FCF LTM	38	417	-33	14	-108	-39	-10
FCF 3Y Avg	261	664	97	344	32	65	179
CFO LTM	380	491	277	306	27	82	291
CFO 3Y Avg	539	727	276	470	104	134	373

Growth & Margins

	INSW	STNG	DHT	TNK	NAT	ASC	Median
Name	Internat.	Scorpio .	DHT	Teekay T.	Nordic A.	Ardmore .
Rev Chg LTM	-11.4%	-24.6%	-12.8%	-22.6%	-19.8%	-23.6%	-21.2%
Rev Chg 3Y Avg	0.5%	-15.3%	4.2%	-4.7%	92.1%	-10.7%	-2.1%
Rev Chg Q	37.6%	23.9%	9.7%	-0.0%	-12.2%	1.1%	5.4%
QoQ Delta Rev Chg LTM	9.5%	5.5%	2.6%	-0.0%	-2.1%	0.3%	1.5%
Op Inc Chg LTM	-27.8%	-47.3%	-5.9%	-38.2%	-81.4%	-60.0%	-42.7%
Op Inc Chg 3Y Avg	-6.0%	-27.0%	80.6%	9.9%	287.0%	-26.5%	1.9%
Op Mgn LTM	36.3%	33.0%	34.5%	22.6%	5.9%	17.0%	27.8%
Op Mgn 3Y Avg	45.0%	44.2%	33.6%	29.1%	19.6%	27.6%	31.4%
QoQ Delta Op Mgn LTM	6.7%	3.3%	6.4%	4.4%	-3.0%	1.2%	3.9%
CFO/Rev LTM	45.1%	52.4%	55.5%	32.1%	9.3%	26.3%	38.6%
CFO/Rev 3Y Avg	55.6%	61.1%	50.9%	37.8%	24.7%	35.4%	44.3%
FCF/Rev LTM	4.5%	44.4%	-6.7%	1.4%	-36.8%	-12.6%	-2.6%
FCF/Rev 3Y Avg	25.7%	55.4%	16.9%	25.3%	2.1%	15.3%	21.1%

Valuation

	INSW	STNG	DHT	TNK	NAT	ASC	Median
Name	Internat.	Scorpio .	DHT	Teekay T.	Nordic A.	Ardmore .
Mkt Cap	3.8	3.5	2.9	2.6	1.3	0.6	2.8
P/S	4.5	3.8	5.9	2.7	4.3	2.1	4.1
P/Op Inc	12.3	11.5	17.1	12.1	73.7	12.3	12.3
P/EBIT	10.7	8.7	13.1	7.5	36.9	13.9	11.9
P/E	12.2	10.3	14.0	7.4	669.2	15.8	13.1
P/CFO	9.9	7.2	10.6	8.5	46.6	7.9	9.2
Total Yield	12.0%	12.0%	11.2%	16.1%	0.1%	8.2%	11.6%
Dividend Yield	3.8%	2.3%	4.0%	2.6%	0.0%	1.9%	2.5%
FCF Yield 3Y Avg	12.7%	25.7%	6.5%	22.0%	3.9%	11.2%	12.0%
D/E	0.2	0.2	0.1	0.0	0.3	0.2	0.2
Net D/E	0.1	-0.0	0.1	-0.3	0.3	0.1	0.1

Returns

	INSW	STNG	DHT	TNK	NAT	ASC	Median
Name	Internat.	Scorpio .	DHT	Teekay T.	Nordic A.	Ardmore .
1M Rtn	10.3%	9.7%	4.7%	14.2%	11.3%	10.0%	10.1%
3M Rtn	39.9%	28.0%	41.6%	25.6%	52.0%	33.8%	36.8%
6M Rtn	73.9%	32.5%	57.2%	40.8%	85.1%	40.2%	49.0%
12M Rtn	148.3%	119.7%	89.1%	96.7%	171.6%	76.7%	108.2%
3Y Rtn	152.2%	32.8%	124.0%	91.3%	117.6%	9.4%	104.4%
1M Excs Rtn	2.7%	2.1%	-2.9%	6.6%	3.7%	2.4%	2.6%
3M Excs Rtn	38.7%	27.0%	38.8%	23.7%	49.4%	32.2%	35.5%
6M Excs Rtn	75.5%	32.7%	56.5%	42.3%	90.8%	36.3%	49.4%
12M Excs Rtn	132.0%	99.0%	67.4%	77.5%	152.1%	55.2%	88.3%
3Y Excs Rtn	95.5%	-27.2%	74.9%	39.4%	70.9%	-47.4%	55.1%

FDIC Bank Data

Bank Capital

null

Bank Deposits

null

Bank Assets

null

Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	12/31/2025	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	2/26/2026	2/26/2026	2/27/2025	2/29/2024	2/28/2023	3/2/2022	3/12/2021
Key Financials
Total Revenue	843	843	952	1,072	865	273	422
EBITDA	515	515	615	755	556	-10	106
Operating Income	306	306	426	580	424	-71	140
Net Income	309	309	417	556	388	-133	-6
EPS	6.26	6.27	8.45	11.35	7.85	-3.48	-0.20
Growth Rates
Total Revenue Growth	-11.4%	-11.4%	-11.2%	24.0%	217.3%	-35.4%	15.1%
EBITDA Growth	-16.2%	-16.2%	-18.6%	35.8%	5909.5%	-109.1%	-25.2%
Operating Income Growth	-27.8%	-28.0%	-26.6%	36.8%	697.1%	-150.7%	152.6%
Net Income Growth	-25.8%	-25.8%	-25.1%	43.5%	390.6%	-2313.5%	-566.4%
Margins
EBITDA Margin	61.1%	61.1%	64.6%	70.5%	64.3%	-3.5%	25.0%
Operating Income Margin	36.3%	36.3%	44.7%	54.1%	49.1%	-26.1%	33.3%
Net Income Margin	36.7%	36.7%	43.8%	51.9%	44.9%	-49.0%	-1.3%
Cash & Debt
Total Cash	167	167	158	187	324	98	199
Total Debt	576	576	712	745	1,075	1,126	555
Net Debt / (Cash)	409	409	554	558	751	1,028	356
Cash Flows
Net Cash from Operations	380	380	547	688	288	-76	216
Free Cash from Operations	38	38	262	482	171	-155	166
Returns to Shareholders
Dividends	145	145	284	308	70	41	7
Share Repurchases	-0	-0	25	14	20	17	30

$ Mil \| FY: 12/31	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1
Period End	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Filing Date	2/26/2026	11/6/2025	8/6/2025	5/8/2025	2/27/2025	11/7/2024	8/7/2024	5/8/2024	2/29/2024	11/7/2023	8/9/2023	5/5/2023
Key Financials Quarterly
Total Revenue	268	196	196	183	195	225	257	274	251	242	292	287
Ebitda	178	122	114	101	80	145	196	194	175	151	207	222
Operating Income	132	67	58	49	54	88	127	155	122	114	169	175
Net Income	128	71	62	50	36	92	145	144	132	98	154	173
EPS	2.58	1.43	1.25	1.00	0.73	1.85	2.93	2.95	2.70	2.00	3.13	3.51
Key Financials TTM
Total Revenue TTM	843	770	799	861	952	1,008	1,024	1,059	1,072	1,159	1,154	1,050
Ebitda TTM	515	417	440	522	615	710	716	728	755	844	850	752
Operating Income TTM	306	228	250	319	424	492	518	560	580	680	694	606
Net Income TTM	309	218	239	322	417	513	519	528	556	643	658	574
Growth Rates Quarterly
Total Revenue Growth	37.6%	-12.8%	-24.0%	-33.2%	-22.4%	-6.8%	-11.9%	-4.4%	-25.9%	2.1%	55.3%	182.9%
EBITDA Growth	123.3%	-15.9%	-41.9%	-47.8%	-54.6%	-3.7%	-5.5%	-12.4%	-33.6%	-3.8%	88.8%	728.3%
Operating Income Growth	145.6%	-24.8%	-54.3%	-68.2%	-55.8%	-22.7%	-24.7%	-11.6%	-45.1%	-11.1%	110.4%	2666.5%
Net Income Growth	255.9%	-23.1%	-57.4%	-65.7%	-72.9%	-6.4%	-5.9%	-16.3%	-39.5%	-13.7%	122.7%	1427.8%
Margins Quarterly
EBITDA Margin	66.4%	62.2%	58.1%	55.2%	40.9%	64.6%	76.1%	70.7%	69.9%	62.5%	70.9%	77.1%
Operating Income Margin	49.4%	33.9%	29.7%	26.9%	27.7%	39.3%	49.4%	56.4%	48.7%	47.3%	57.7%	60.9%
Net Income Margin	47.6%	35.9%	31.5%	27.0%	18.4%	40.7%	56.2%	52.7%	52.7%	40.5%	52.6%	60.1%
Cash & Debt
Total Cash	167	413	149	133	158	153	176	215	187	214	236	261
Total Debt	576	804	562	614	712	665	730	711	745	866	986	959
Net Debt / (Cash)	409	391	413	481	554	512	553	497	558	652	750	698
Cash Flows Quarterly
FCF from Operations	146	78	86	70	94	129	168	156	125	148	194	221
Cash Flows TTM
FCF from Operations TTM	380	328	378	461	547	579	598	624	688	745	687	528
Returns to Shareholders Quarterly
Dividends	42	38	30	34	59	74	87	65	61	69	79	98
Share Repurchases	-0	-0	-0	-0	-0	25	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	27.8%	14.1%	12.2%	10.0%	10.5%	17.7%	24.5%	31.2%	23.2%	21.3%	30.0%	31.8%
Return on Invested Capital (ROIC) TTM
ROIC TTM	16.1%	12.1%	13.1%	16.1%	20.7%	24.4%	24.8%	28.0%	28.1%	31.7%	30.9%	27.5%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Product Carriers	500	548	533	116	87
Crude Tankers	451	524	332	156	335
Other	0	0	0		0
Total	952	1,072	865	273	422

Operating Income by Segment

$ Mil	2025	2024	2023	2022	2021
Product Carriers	266	320	326	-12	25
Crude Tankers	212	308	145	-26	144
Gain on disposal of vessels and other assets, net of impairments	33	36	20	10	-100
Other	0	-0	-0	-0	-0
Third-party debt modification fees	-0	-1	-1	-0	-0
Other operating expenses	-3	0
General and administrative expenses	-53	-47	-46	-33	-29
Equity in results of affiliated companies		0	1	22	4
Merger and integration related costs			0	-51	0
Reversal of/(provision for) expected credit losses					0
Total	455	615	443	-90	44

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Crude Tankers	1,438	1,524	1,429	1,453	1,112
Product Carriers	1,006	786	834	781	254
Corporate cash and cash equivalents	158	127	244	98	199
Other unallocated amounts	35	26	29	14	5
Other	0	0	0		0
Short-term investments	0	60	80
Restricted cash				1	16
Total	2,636	2,522	2,615	2,347	1,587

Price Behavior

Price Behavior

Market Price	$76.47
Market Cap ($ Bil)	3.8
First Trading Date	11/16/2016
Distance from 52W High	0.0%
	50 Days	200 Days
DMA Price	$69.25	$51.56
DMA Trend	up	up
Distance from DMA	10.4%	48.3%
	3M	1YR
Volatility	42.0%	36.5%
Downside Capture	-0.23	-0.36
Upside Capture	187.43	60.67
Correlation (SPY)	33.2%	13.2%

INSW Betas & Captures as of 3/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	1.56	1.39	1.02	0.61	0.66	0.57
Up Beta	4.67	2.20	2.59	1.23	0.67	0.60
Down Beta	1.23	1.90	1.92	1.20	1.22	0.84
Up Capture	170%	227%	153%	87%	58%	26%
Bmk +ve Days	7	16	27	65	139	424
Stock +ve Days	10	23	35	68	137	395
Down Capture	113%	16%	-86%	-44%	-35%	53%
Bmk -ve Days	12	23	33	58	110	323
Stock -ve Days	12	19	28	58	114	355

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with INSW
INSW	165.1%	36.6%	2.73	-
Sector ETF (XLE)	42.9%	20.1%	1.67	20.7%
Equity (SPY)	21.1%	12.9%	1.32	12.1%
Gold (GLD)	50.9%	27.5%	1.49	6.2%
Commodities (DBC)	25.2%	16.2%	1.40	24.6%
Real Estate (VNQ)	17.5%	13.7%	0.93	14.2%
Bitcoin (BTCUSD)	-10.5%	42.6%	-0.14	2.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with INSW
INSW	47.5%	41.3%	1.06	-
Sector ETF (XLE)	22.5%	26.1%	0.77	42.7%
Equity (SPY)	10.8%	17.1%	0.49	22.1%
Gold (GLD)	22.6%	17.8%	1.04	7.6%
Commodities (DBC)	11.6%	18.8%	0.51	31.9%
Real Estate (VNQ)	4.4%	18.8%	0.14	11.5%
Bitcoin (BTCUSD)	4.6%	56.5%	0.30	5.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with INSW
INSW	29.8%	56.4%	0.72	-
Sector ETF (XLE)	10.2%	29.5%	0.38	30.7%
Equity (SPY)	14.0%	17.9%	0.67	23.0%
Gold (GLD)	14.3%	15.9%	0.75	5.4%
Commodities (DBC)	8.5%	17.6%	0.40	22.1%
Real Estate (VNQ)	5.6%	20.7%	0.24	18.6%
Bitcoin (BTCUSD)	68.0%	66.9%	1.07	6.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	3312026
Short Interest: Shares Quantity	1.6 Mil
Short Interest: % Change Since 3152026	5.3%
Average Daily Volume	0.6 Mil
Days-to-Cover Short Interest	2.8 days
Basic Shares Quantity	49.4 Mil
Short % of Basic Shares	3.2%

Returns Analyses

	Title
0	International Seaways Stock Drop Looks Sharp, But How Deep Can It Go?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
2/26/2026	4.3%	8.5%	3.8%
11/6/2025	4.4%	6.8%	2.9%
8/6/2025	1.0%	-2.4%	6.4%
5/8/2025	0.7%	5.6%	2.8%
2/27/2025	-7.5%	-7.8%	-7.9%
11/7/2024	-2.1%	-5.2%	-17.3%
8/7/2024	-4.2%	-3.9%	-3.0%
2/29/2024	1.3%	1.4%	4.4%
...
SUMMARY STATS
# Positive	11	12	8
# Negative	8	7	11
Median Positive	1.5%	4.4%	5.4%
Median Negative	-2.6%	-3.0%	-8.6%
Max Positive	7.5%	13.1%	23.7%
Max Negative	-7.5%	-7.8%	-17.3%

	Forward Returns
2/26/2026	4.3%	8.5%	3.8%
11/6/2025	4.4%	6.8%	2.9%
8/6/2025	1.0%	-2.4%	6.4%
5/8/2025	0.7%	5.6%	2.8%
2/27/2025	-7.5%	-7.8%	-7.9%
11/7/2024	-2.1%	-5.2%	-17.3%
8/7/2024	-4.2%	-3.9%	-3.0%
2/29/2024	1.3%	1.4%	4.4%
11/7/2023	-1.8%	-2.5%	-9.2%
8/9/2023	3.9%	1.0%	-7.3%
2/28/2023	5.8%	6.0%	-8.1%
11/8/2022	1.2%	0.8%	-13.0%
8/9/2022	7.5%	13.1%	22.0%
3/2/2022	-0.3%	1.6%	-0.7%
11/9/2021	1.5%	-3.0%	-11.2%
8/9/2021	-6.6%	-0.3%	11.3%
3/12/2021	-3.0%	2.8%	-11.6%
11/6/2020	-2.2%	3.2%	23.7%
8/7/2020	0.8%	7.5%	-8.6%
SUMMARY STATS
# Positive	11	12	8
# Negative	8	7	11
Median Positive	1.5%	4.4%	5.4%
Median Negative	-2.6%	-3.0%	-8.6%
Max Positive	7.5%	13.1%	23.7%
Max Negative	-7.5%	-7.8%	-17.3%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
12/31/2025	02/26/2026	10-K
09/30/2025	11/06/2025	10-Q
06/30/2025	08/06/2025	10-Q
03/31/2025	05/08/2025	10-Q
12/31/2024	02/27/2025	10-K
09/30/2024	11/07/2024	10-Q
06/30/2024	08/07/2024	10-Q
03/31/2024	05/08/2024	10-Q
12/31/2023	02/29/2024	10-K
09/30/2023	11/07/2023	10-Q
06/30/2023	08/09/2023	10-Q
03/31/2023	05/05/2023	10-Q
12/31/2022	02/28/2023	10-K
09/30/2022	11/08/2022	10-Q
06/30/2022	08/09/2022	10-Q
03/31/2022	05/04/2022	10-Q

Recent Forward Guidance [BETA]

Latest: Q4 2025 Earnings Reported 2/26/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q1 2026 Vessel Sale Gains		80.00 Mil
2026 ECA Credit Facility Draw		158.00 Mil

Prior: Q3 2025 Earnings Reported 11/6/2025

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q4 2025 Vessel Purchase Price		119.00 Mil
2025 Oil Demand Growth		1.0%
2025 Fleet Growth		2.0%

Insider Activity

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Pribor, Jeffrey	SVP & CFO	Direct	Sell	12172025	48.26	1,000	48,260	3,631,179	Form
2	Zabrocky, Lois K	President & CEO	Direct	Sell	12172025	48.56	2,000	97,129	8,859,148	Form
3	Zabrocky, Lois K	President & CEO	Direct	Sell	11192025	53.82	2,000	107,633	9,924,893	Form
4	Pribor, Jeffrey	SVP & CFO	Direct	Sell	11192025	53.58	1,000	53,580	3,843,508	Form
5	Small, James D Iii	CAO,SVP,Sec. & General Counsel	Direct	Sell	11172025	53.60	20,000	1,071,972	2,641,982	Form

Collapse to Preview

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Pribor, Jeffrey	SVP & CFO	Direct	Sell	12172025	48.26	1,000	48,260	3,631,179	Form
2	Zabrocky, Lois K	President & CEO	Direct	Sell	12172025	48.56	2,000	97,129	8,859,148	Form
3	Zabrocky, Lois K	President & CEO	Direct	Sell	11192025	53.82	2,000	107,633	9,924,893	Form
4	Pribor, Jeffrey	SVP & CFO	Direct	Sell	11192025	53.58	1,000	53,580	3,843,508	Form
5	Small, James D Iii	CAO,SVP,Sec. & General Counsel	Direct	Sell	11172025	53.60	20,000	1,071,972	2,641,982	Form
6	Solon, Derek G	Senior Vice President	Direct	Sell	11122025	53.71	3,500	187,979	2,652,814	Form
7	Pribor, Jeffrey	SVP & CFO	Direct	Sell	10172025	44.00	1,000	44,000	2,978,580	Form
8	Zabrocky, Lois K	President & CEO	Direct	Sell	10172025	44.12	2,000	88,230	8,239,403	Form
9	Zabrocky, Lois K	President & CEO	Direct	Sell	9162025	49.08	2,000	98,159	9,264,749	Form
10	Pribor, Jeffrey	SVP & CFO	Direct	Sell	9162025	48.27	1,000	48,270	3,065,242	Form
11	Pribor, Jeffrey	SVP & CFO	Direct	Sell	8252025	44.69	1,000	44,690	2,882,594	Form
12	Zabrocky, Lois K	President & CEO	Direct	Sell	8182025	41.58	2,000	83,169	7,933,155	Form
13	Solon, Derek G	Senior Vice President	Direct	Sell	8152025	41.35	3,000	124,045	2,187,036	Form
14	Small, James D Iii	CAO,SVP,Sec. & General Counsel	Direct	Sell	8152025	41.35	5,000	206,736	2,865,037	Form
15	Nugent, William F	Senior Vice President	Direct	Sell	8012025	40.21	1,000	40,210	2,362,418	Form
16	Zabrocky, Lois K	President & CEO	Direct	Sell	7162025	38.62	2,000	77,237	7,444,527	Form
17	Nugent, William F	Senior Vice President	Direct	Sell	7022025	37.00	1,000	37,000	2,210,824	Form
18	Zabrocky, Lois K	President & CEO	Direct	Sell	6172025	38.74	2,000	77,483	7,545,740	Form
19	Nugent, William F	Senior Vice President	Direct	Sell	6022025	37.13	1,000	37,130	2,255,722	Form
20	Zabrocky, Lois K	President & CEO	Direct	Sell	5162025	38.15	2,000	76,309	7,507,660	Form
21	Solon, Derek G	Senior Vice President	Direct	Sell	5132025	38.22	1,500	57,323	2,135,951	Form
22	Nugent, William F	Senior Vice President	Direct	Sell	5022025	34.01	1,000	34,010	2,100,186	Form
23	Zabrocky, Lois K	President & CEO	Direct	Sell	4162025	31.66	2,000	63,317	6,292,792	Form
24	Nugent, William F	Senior Vice President	Direct	Sell	4022025	32.63	1,000	32,630	1,854,885	Form
25	Pribor, Jeffrey	SVP & CFO	Direct	Sell	1162026	55.68	1,000	55,680	4,402,785	Form
26	Zabrocky, Lois K	President & CEO	Direct	Sell	1162026	55.17	2,000	110,342	9,953,971	Form
27	Zabrocky, Lois K	President & CEO	Direct	Sell	2182026	63.96	2,000	127,919	11,411,718	Form
28	Pribor, Jeffrey	SVP & CFO	Direct	Sell	2182026	63.29	1,000	63,290	5,282,373	Form
29	Nugent, William F	Senior Vice President	Direct	Sell	3042026	76.00	9,583	728,327	3,995,577	Form
30	Solon, Derek G	Senior Vice President	Direct	Sell	3042026	75.41	6,000	452,437	3,844,887	Form
31	Blankenship, Alexandra Kate		Direct	Sell	3042026	75.69	4,000	302,764	1,151,486	Form
32	Grillo, Debra	Treasurer	Direct	Sell	3102026	76.27	389	29,669	90,380	Form
33	Day, Randee E		Direct	Sell	3102026	74.93	4,090	306,453	1,381,288	Form
34	Blankenship, Alexandra Kate		Direct	Sell	3102026	74.88	5,000	374,424	764,798	Form
35	Famatown, Finance Ltd		See footnotes	Sell	3122026	75.61	300,000	22,684,500	602,413,816	Form
36	Famatown, Finance Ltd		See footnotes	Sell	3122026	75.34	156,362	11,779,688	588,411,376	Form
37	Pribor, Jeffrey	SVP & CFO	Direct	Sell	3172026	66.50	1,000	66,500	6,684,646	Form
38	Zabrocky, Lois K	President & CEO	Direct	Sell	3172026	67.79	2,000	135,579	14,150,698	Form
39	Pribor, Jeffrey	SVP & CFO	Direct	Sell	4172026	74.50	1,000	74,500	7,746,808	Form
40	Zabrocky, Lois K	President & CEO	Direct	Sell	4172026	74.57	2,000	149,143	15,417,305	Form

INSW Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

null

STOCK ARCHETYPE

null

Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

How Is The Market Pricing INSW?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What INSW Makes & Who Pays

TTM figures based on

INSW Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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International Seaways (INSW)

Market Price (4/18/2026): $76.48 | Market Cap: $3.8 BilSector: Energy | Industry: Oil & Gas Storage & Transportation

International Seaways (INSW)

Market Price (4/18/2026): $76.48Market Cap: $3.8 BilSector: EnergyIndustry: Oil & Gas Storage & Transportation

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About International Seaways (INSW)

Key Risks to International Seaways (INSW)

Interactive Breakdown

Better Bets vs. International Seaways (INSW)

INDUSTRY: Oil & Gas Storage & Transportation

Higher Rev Chg 3Y Avg | Lower P/S (Values for INSW: 0.5% | 4.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for INSW: 0.5% | 12.3x)

Higher Rev Chg LTM (Value for INSW: -11.4%)

Higher Rev Chg 3Y Avg (Value for INSW: 0.5%)

Higher Op Mgn LTM (Value for INSW: 36.3%)

Higher CFO/Rev LTM (Value for INSW: 45.1%)

Higher FCF/Rev LTM (Value for INSW: 4.5%)

Higher Total Yield (Value for INSW: 12.0%)

SECTOR: Energy

Higher Rev Chg 3Y Avg | Lower P/S (Values for INSW: 0.5% | 4.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for INSW: 0.5% | 12.3x)

Higher Rev Chg LTM (Value for INSW: -11.4%)

Higher Rev Chg 3Y Avg (Value for INSW: 0.5%)

Higher Op Mgn LTM (Value for INSW: 36.3%)

Higher CFO/Rev LTM (Value for INSW: 45.1%)

Higher FCF/Rev LTM (Value for INSW: 4.5%)

Higher Total Yield (Value for INSW: 12.0%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for INSW: 0.5% | 4.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for INSW: 0.5% | 12.3x)

Higher Rev Chg LTM (Value for INSW: -11.4%)

Higher Rev Chg 3Y Avg (Value for INSW: 0.5%)

Higher Op Mgn LTM (Value for INSW: 36.3%)

Higher CFO/Rev LTM (Value for INSW: 45.1%)

Higher FCF/Rev LTM (Value for INSW: 4.5%)

Higher Total Yield (Value for INSW: 12.0%)

Best Bets in Energy

P/EBIT (Value for INSW: 10.7x)

P/E (Value for INSW: 12.2x)

Rev Chg 3Y Avg (Value for INSW: 0.5%)

Rev Chg LTM (Value for INSW: -11.4%)

Rev Chg Q (Value for INSW: 37.6%)

FCF/Rev 3Y Avg (Value for INSW: 25.7%)

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Market Price (4/18/2026): $76.48 | Market Cap: $3.8 Bil
Sector: Energy | Industry: Oil & Gas Storage & Transportation

Market Price (4/18/2026): $76.48
Market Cap: $3.8 Bil
Sector: Energy
Industry: Oil & Gas Storage & Transportation