Tearsheet

Teekay (TK)

Market Price (3/30/2026): $12.0 | Market Cap: $1.0 Bil
Sector: Energy | Industry: Oil & Gas Storage & Transportation

Teekay (TK)

Market Price (3/30/2026): $12.0
Market Cap: $1.0 Bil
Sector: Energy
Industry: Oil & Gas Storage & Transportation

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

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.9%, FCF Yield is 38%	Stock price has recently run up significantly 12M Rtn12 month market price return is 105%
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -63%	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -17%, Rev Chg QQuarterly Revenue Change % is -24%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 32%	Key risks TK key risks include [1] its significant revenue concentration from a limited number of key customers.
3	Low stock price volatility Vol 12M is 37%
4	Megatrend and thematic drivers Megatrends include US Energy Independence, Energy Transition & Decarbonization, and Hydrogen Economy. Themes include US LNG, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.9%, FCF Yield is 38%
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -63%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 32%
3	Low stock price volatility Vol 12M is 37%
4	Megatrend and thematic drivers Megatrends include US Energy Independence, Energy Transition & Decarbonization, and Hydrogen Economy. Themes include US LNG, Show more.
5	Stock price has recently run up significantly 12M Rtn12 month market price return is 105%
6	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -17%, Rev Chg QQuarterly Revenue Change % is -24%
7	Key risks TK key risks include [1] its significant revenue concentration from a limited number of key customers.

Valuation, Metrics & Events

	3/30/26	2025	2024	2023	2022
Share Price CYE	$12.00	$9.03	$6.93	$7.15	$4.54
Market Cap CYE ($ Bil)	1.0	0.8	0.6	0.7	0.5
Total Debt ($ Bil)	0.1	0.1	0.2	0.6	1.0
Total Cash ($ Bil)	0.7	0.7	0.7	0.5	0.1
Enterprise Value ($ Bil)	0.4	0.9	0.8	1.3	1.5
Valuation Ratios
P/S TTM	0.9	0.6	0.4	0.6	0.7
P/EBIT TTM	2.5	1.9	1.1	2.9	-2.2
P/E TTM	7.8	5.9	4.2	9.2	59.5
P/FCF TTM	2.7	2.0	1.0	3.9	8.2
Sector Ratios
P/S TTM (Sector)	2.0	1.4	1.5	1.6	1.3
P/EBIT TTM (Sector)	9.5	6.9	6.6	5.9	3.9
P/E TTM (Sector)	14.4	10.5	10.3	8.3	5.3
P/FCF TTM (Sector)	11.6	8.1	7.1	7.5	5.1

	3/30/26	2025	2024
Share Price CYE	$12.00	$9.03	$6.93
Market Cap CYE ($ Bil)	1.0	0.8	0.6
Total Debt ($ Bil)	0.1	0.1	0.2
Total Cash ($ Bil)	0.7	0.7	0.7
Enterprise Value ($ Bil)	0.4	0.9	0.8
Valuation Ratios
P/S TTM	0.9	0.6	0.4
P/EBIT TTM	2.5	1.9	1.1
P/E TTM	7.8	5.9	4.2
P/FCF TTM	2.7	2.0	1.0
Sector Ratios
P/S TTM (Sector)	2.0	1.4	1.5
P/EBIT TTM (Sector)	9.5	6.9	6.6
P/E TTM (Sector)	14.4	10.5	10.3
P/FCF TTM (Sector)	11.6	8.1	7.1

	TK	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	1.2
Rev Chg Q	-24.4%	7.3%
Rev Chg LTM	-16.7%	6.7%
Rev Chg 3Y Avg	26.9%	5.7%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	0.3
CFO LTM ($ Bil)	0.5
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	27.3%	18.6%
CFO/Rev LTM	38.3%	20.7%
Net Inc Mgn	11.0%	12.8%
VALUATION	VERY LOW
P/S	0.9	3.1
P/CFO	2.2	14.8
P/FCF	2.7	19.4
P/E	7.8	23.7
STABILITY	VERY GOOD
Debt/Equity	0.06	0.22
Cash/Assets	0.33	0.07

AI Analysis | Feedback

Metric	Value	Date	Source
Owned Double-Hull Tankers	34	9302025	Link
Time Chartered-In Vessels	3	9302025	Link
Suezmax Tankers	17	9302025	Link
Aframax/LR2 Tankers	16	9302025	Link
VLCC Tankers	1	9302025	Link

Upcoming
5/06/2026	Earnings Release	Rev: $266 Mil (E) EPS: $0.11 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Teekay (TK) stock has gained about 25% since 11/30/2025 because of the following key factors:

1. Strong Q4 2025 Financial Performance and Optimistic Q1 2026 Outlook.

Teekay Tankers (TNK), in which Teekay (TK) holds a controlling interest, reported robust financial results for the fourth quarter of 2025, with a GAAP net income of $120 million and adjusted net income of $97 million. Teekay Corporation itself reported a GAAP net income attributable to shareholders of $35.0 million, or $0.40 per share, for Q4 2025. This solid performance was further bolstered by an optimistic outlook for the first quarter of 2026, with management anticipating strong free cash flow generation.

2. Robust Tanker Market Fundamentals and High Spot Rates.

The tanker market experienced significant strengthening in the fourth quarter of 2025, with spot tanker rates reaching their second-highest level in 15 years. This was driven by underlying demand fundamentals, near-record seaborne crude oil volumes, and geopolitical factors contributing to trade inefficiencies. This positive momentum extended into early 2026, with Teekay Tankers securing high spot rates, such as approximately $79,800 per day for its VLCC fleet and around $56,900 per day for its Suezmax fleet, with strong forward bookings.

Show more

Stock Movement Drivers

Fundamental Drivers

The 23.6% change in TK stock from 11/30/2025 to 3/29/2026 was primarily driven by a 23.6% change in the company's P/E Multiple.

(LTM values as of)	11302025	3292026	Change
Stock Price ($)	9.71	12.00	23.6%
Change Contribution By:
Total Revenues ($ Mil)	1,220	1,220	0.0%
Net Income Margin (%)	11.0%	11.0%	0.0%
P/E Multiple	6.3	7.8	23.6%
Shares Outstanding (Mil)	87	87	0.0%
Cumulative Contribution			23.6%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/29/2026

	Return	Correlation
TK	23.6%
Market (SPY)	-5.3%	24.0%
Sector (XLE)	39.5%	8.4%

Fundamental Drivers

The 46.3% change in TK stock from 8/31/2025 to 3/29/2026 was primarily driven by a 46.3% change in the company's P/E Multiple.

(LTM values as of)	8312025	3292026	Change
Stock Price ($)	8.20	12.00	46.3%
Change Contribution By:
Total Revenues ($ Mil)	1,220	1,220	0.0%
Net Income Margin (%)	11.0%	11.0%	0.0%
P/E Multiple	5.3	7.8	46.3%
Shares Outstanding (Mil)	87	87	0.0%
Cumulative Contribution			46.3%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/29/2026

	Return	Correlation
TK	46.3%
Market (SPY)	0.6%	20.7%
Sector (XLE)	40.8%	10.1%

Fundamental Drivers

The 108.7% change in TK stock from 2/28/2025 to 3/29/2026 was primarily driven by a 111.2% change in the company's P/E Multiple.

(LTM values as of)	2282025	3292026	Change
Stock Price ($)	5.75	12.00	108.7%
Change Contribution By:
Total Revenues ($ Mil)	1,303	1,220	-6.3%
Net Income Margin (%)	11.0%	11.0%	-0.8%
P/E Multiple	3.7	7.8	111.2%
Shares Outstanding (Mil)	92	87	6.3%
Cumulative Contribution			108.7%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/29/2026

	Return	Correlation
TK	108.7%
Market (SPY)	9.8%	27.8%
Sector (XLE)	42.1%	30.8%

Fundamental Drivers

The 151.6% change in TK stock from 2/28/2023 to 3/29/2026 was primarily driven by a 396.8% change in the company's Net Income Margin (%).

(LTM values as of)	2282023	3292026	Change
Stock Price ($)	4.77	12.00	151.6%
Change Contribution By:
Total Revenues ($ Mil)	993	1,220	22.9%
Net Income Margin (%)	2.2%	11.0%	396.8%
P/E Multiple	22.3	7.8	-65.1%
Shares Outstanding (Mil)	103	87	18.1%
Cumulative Contribution			151.6%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/29/2026

	Return	Correlation
TK	151.6%
Market (SPY)	69.4%	20.7%
Sector (XLE)	65.5%	31.8%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
TK Return	46%	45%	57%	11%	48%	31%	621%
Peers Return	-5%	166%	41%	-15%	37%	49%	521%
S&P 500 Return	27%	-19%	24%	23%	16%	-5%	72%
Monthly Win Rates [3]
TK Win Rate	67%	75%	50%	42%	58%	67%
Peers Win Rate	45%	72%	53%	33%	68%	73%
S&P 500 Win Rate	75%	42%	67%	75%	67%	33%
Max Drawdowns [4]
TK Max Drawdown	0%	-17%	-6%	-2%	-16%	-3%
Peers Max Drawdown	-12%	-9%	-12%	-20%	-15%	-3%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-5%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: INSW, DHT, STNG, TNK, NAT.
[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 3/27/2026 (YTD)

How Low Can It Go

Unique Key	Event	TK	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-36.6%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	57.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	110 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-67.7%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	209.3%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	840 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-75.2%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	303.2%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	2,444 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-81.6%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	444.4%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	2,140 days	1,480 days

Compare to INSW, DHT, STNG, TNK, NAT

In The Past

Teekay's stock fell -36.6% during the 2022 Inflation Shock from a high on 6/24/2021. A -36.6% loss requires a 57.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Teekay (TK)

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

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company provides a full suite of ship-to-ship transfer services in the oil, gas, and dry bulk industries; lightering and lightering support; and operational and maintenance marine, as well as offshore production services. As of March 1, 2022, it operated a fleet of approximately 55 vessels. The company primarily serves energy and utility companies, major oil traders, large oil consumers and petroleum product producers, government agencies, and various other entities that depend upon marine transportation. Teekay Corporation was founded in 1973 and is headquartered in Hamilton, Bermuda.

AI Analysis | Feedback

Maersk for crude oil and gas shipping
Kinder Morgan of the oceans

AI Analysis | Feedback

Marine Transportation Services: International transportation of crude oil and other marine cargo worldwide.
Ship-to-Ship Transfer Services: A comprehensive suite of services for transferring cargo between vessels, including lightering, across the oil, gas, and dry bulk industries.
Operational and Maintenance Marine Services: Provides operational and maintenance support for marine assets and activities.
Offshore Production Services: Delivers services specifically related to offshore oil and gas production facilities.

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

Kenneth Hvid, President and Chief Executive Officer

Kenneth Hvid has served as President and Chief Executive Officer of Teekay Corporation since 2017 and joined the board of directors in 2019. He also assumed the role of President and Chief Executive Officer of Teekay Tankers Ltd. in August 2024. Mr. Hvid has more than 35 years of global shipping experience, including 12 years with A.P. Moller. Prior to his current role, he served as Teekay Corporation Ltd.'s Chief Strategy Officer and Executive Vice President from 2011 to 2015, and as President and Chief Executive Officer of Teekay Offshore Group Ltd. from 2015 to 2016.

Brody Speers, Chief Financial Officer

Brody Speers was appointed as Chief Financial Officer of Teekay Corporation and Teekay Tankers Ltd. in August 2024. Before this appointment, he held several senior financial positions within Teekay, including Vice President, Finance of Teekay Corporation since 2018 and Treasurer of Teekay Corporation since 2022. He also served as Chief Financial Officer of Teekay Gas Group Ltd. in 2017 and 2018. Mr. Speers joined Teekay in 2008, and prior to that, he worked as a Chartered Professional Accountant for an accounting firm in Vancouver, Canada.

Anne Liversedge, General Counsel & Company Secretary

Anne Liversedge serves as the General Counsel and Company Secretary for Teekay Corporation.

Mikkel Seidelin, Chief Commercial Officer (Teekay Tankers Ltd.)

Mikkel Seidelin was appointed Chief Commercial Officer of Teekay Tankers Ltd. in August 2024. He joined Teekay in 2003 and has held various commercial functions across the globe, including Pool Manager for Taurus Tankers (LR2) and Chartering Director for Teekay Tankers Ltd.'s Suezmax business. He previously served as Head of Chartering & Commercial Operations for Teekay Tankers since 2023.

AI Analysis | Feedback

Here are the key risks to Teekay Corporation's business:

Volatility of the Tanker Industry and Oil Markets: Teekay Corporation's earnings are highly sensitive to the cyclical nature of the tanker industry and global oil market volatility. Approximately 93.1% of its 2025 tanker revenues came from spot trading and revenue sharing arrangements, making profitability highly susceptible to changes in global oil demand, supply, and freight rates. High oil prices, for instance, could negatively impact tanker freight rates.
Geopolitical and Regulatory Risks: The company faces significant exposure to geopolitical conflicts, such as the Russia-Ukraine war and Middle East instability, which can lead to unpredictable changes in shipping routes, increased costs, and disruptions to oil trade flows. Additionally, environmental regulations and increasing ESG expectations pose a risk, potentially requiring substantial capital outlays for fleet upgrades or new, compliant vessels. Sanctions and piracy are also ongoing concerns.
Fleet Age and Renewal Costs: A significant portion of Teekay's fleet, approximately 65%, is 15 years or older as of March 2026, indicating a need for substantial future capital expenditure on fleet renewal. This implies significant spending and execution risks related to newbuilding and second-hand vessel availability, prices, market conditions, and access to financing, which could constrain future financial flexibility.

AI Analysis | Feedback

The global energy transition and decarbonization efforts, which are leading to a decreasing long-term demand for crude oil and petroleum products, directly threaten Teekay's core business of international crude oil marine transportation services.

AI Analysis | Feedback

Teekay Corporation operates in several key marine transportation and offshore services markets globally. The addressable market sizes for its main products and services are as follows:

International Crude Oil and Other Marine Transportation Services

Global Tanker Shipping Market: The global tanker shipping market size was estimated at approximately USD 209.4 billion in 2024 and is projected to grow to USD 345.2 billion by 2035. This market encompasses the transport of various liquid cargoes, including crude oil, refined petroleum products, chemicals, and liquefied natural gas (LNG).
Global Crude Oil Carrier Market: Within the broader tanker shipping market, the global crude oil carrier market was valued at USD 257.37 billion in 2024 and is expected to reach approximately USD 357.68 billion by 2032.
Global Chemical Tanker Shipping Market: The global chemical tanker shipping market was estimated at USD 34.65 billion in 2023 and is projected to reach USD 46.14 billion by 2030.
Global Dry Bulk Shipping Market: The global dry bulk shipping market size was estimated at USD 168.5 billion in 2025 and is expected to grow to USD 249.8 billion in 2035.

Ship-to-Ship Transfer Services

Global Ship-to-Ship Transfer Service Market: This market, which includes lightering operations, is expected to be worth around USD 1.4 billion in 2024, with projections to reach approximately USD 2.5 billion by 2034. Lightering operations, specifically, are a significant component, dominating the market with an estimated share of 74.6% in 2025.

Operational and Maintenance Marine, and Offshore Production Services

Global Offshore Oilfield Services Market: The global offshore oilfield services market is estimated at USD 45.46 billion in 2026 and is projected to grow to USD 63.13 billion by 2031. This market includes services such as drilling, completion, production, and intervention.
Global Subsea and Offshore Services Market: The global subsea and offshore services market was valued at approximately USD 12 billion in 2023 and is projected to reach around USD 20 billion by 2032. This market covers inspection, maintenance, repair (IMR), subsea construction, subsea engineering, and subsea surveys.

AI Analysis | Feedback

Teekay Corporation (TK) is expected to drive future revenue growth over the next 2-3 years primarily through the performance and strategic initiatives of its consolidated subsidiary, Teekay Tankers Ltd. (TNK), under which Teekay Corporation's operations have been largely integrated.

The key drivers of future revenue growth for Teekay (through Teekay Tankers) include:

Sustained Strong Spot Tanker Market: The resilience of the spot tanker market, driven by increased global oil demand, firm tonne-mile demand, and limited fleet supply growth, is a significant revenue driver. Geopolitical shifts and tighter sanctions are expected to continue redirecting oil volumes to compliant fleets, thereby supporting robust spot rates, particularly for mid-size crude tankers (Aframaxes and Suezmaxes). Global oil demand is projected to increase by 1.1 million barrels per day in 2026, consistent with prior years, further boosting tanker demand.
Fleet Renewal and Strategic Acquisitions: Teekay Tankers' ongoing strategy of modernizing its fleet through targeted acquisitions of newer vessels and the opportunistic sale of older tonnage is anticipated to enhance its market position and operational efficiency. This strategic approach positions the company to capitalize on market opportunities, especially given the aging global tanker fleet.
Enhanced Operational Efficiency and Reduced Breakeven Costs: The consolidation of operations under Teekay Tankers, completed by the end of 2024, aims to create a streamlined, integrated shipping platform for enhanced operational efficiency. Furthermore, the company has significantly reduced its free cash flow breakeven to approximately $11,300 per day from $21,300 per day in 2022, allowing for increased profitability even in less favorable market conditions.
Increased Oil Production and Trade: Projections for increased global oil demand and non-OPEC+ supply growth, particularly from the Americas, are expected to lead to meaningful growth in mid-size tanker demand. The shift in Venezuelan crude exports to compliant tankers also contributes to increased tonne-mile demand and, consequently, revenue growth opportunities.
Financial Strength and Investment Capacity: Teekay Tankers' strong balance sheet, characterized by a significant cash position and no debt, provides considerable financial flexibility and investment capacity. This enables the company to pursue accretive growth opportunities quickly and efficiently within the dynamic tanker market, further supporting future revenue expansion.

AI Analysis | Feedback

Capital Allocation Decisions for Teekay Corporation (TK)

Share Repurchases

Teekay Corporation completed a $30 million share repurchase program, announced in August 2022, by March 2023.
From August 2022 to September 2024, Teekay repurchased a total of 14.97 million common shares for $84.4 million at an average price of $5.64 per share.
In October 2024, Teekay's Board of Directors authorized a new share repurchase program of up to $40.0 million of its outstanding common shares. As of May 2025, approximately $28.1 million remained from this program, with $4.2 million worth of shares having been repurchased.

Share Issuance

Teekay Corporation has generally reduced its number of outstanding shares over the past few years, indicating share repurchases rather than issuances.
The number of shares outstanding decreased from 0.104 billion in December 2022 to 0.093 billion in December 2024, and further to 86.897 million by March 2026.

Outbound Investments

In January 2022, Teekay completed the sale of its Teekay Gas Business to Stonepeak Partners L.P. and Seapeak.
In December 2024, Teekay Corporation completed the sale of Teekay Australia for $65.0 million plus a working capital adjustment of $15.9 million, and all remaining management services companies for $17.3 million, to its subsidiary Teekay Tankers, totaling $92.2 million in consideration. These transactions were part of a multi-year effort to simplify the Teekay Group, positioning Teekay Tankers as the sole operating platform.

Capital Expenditures

Teekay's capital allocation strategy is driven by a fleet renewal plan, particularly within its subsidiary Teekay Tankers.
Teekay Tankers made significant investments in fleet renewal, including acquiring a modern 2017-built Suezmax tanker and the remaining 50% ownership in the Hong Kong Spirit VLCC tanker in Q3 2025.
In Q2 2023, Teekay Tankers exercised purchase options on four sale-leaseback vessels for $57 million, bringing total repurchases to 19 vessels for $365 million since March 2023, aimed at reducing interest expense and improving debt flexibility. Additionally, in January and February 2026, Teekay Tankers acquired 6 vessels for $300 million.

Interactive Breakdown

null

null

Better Bets vs. Teekay (TK)

INDUSTRY: Oil & Gas Storage & Transportation

Higher Rev Chg LTM (Value for TK: -16.7%)

LNG (27.2%)

Cheniere Energy

ENB (21.9%)

Enbridge

WMB (13.8%)

Williams Companies

KMI (12.2%)

Kinder Morgan

TRP (10.7%)

TC Energy

Higher Rev Chg 3Y Avg (Value for TK: 26.9%)

NAT (92.1%)

Nordic American Tankers

Higher Op Mgn LTM (Value for TK: 27.3%)

LNG (45.6%)

Cheniere Energy

TRP (44.4%)

TC Energy

VG (37.4%)

Venture Global

WMB (36.9%)

Williams Companies

KMI (27.8%)

Kinder Morgan

Higher CFO/Rev LTM (Value for TK: 38.3%)

DTM (69.8%)

DT Midstream

WMB (49.4%)

Williams Companies

TRP (48.2%)

TC Energy

VG (47.7%)

Venture Global

PBA (42.3%)

Pembina Pipeline

Higher FCF/Rev LTM (Value for TK: 32.1%)

AM (61.2%)

Antero Midstream

HESM (45.0%)

Hess Midstream

STNG (44.4%)

Scorpio Tankers

DTM (35.5%)

DT Midstream

PBA (32.2%)

Pembina Pipeline

Higher Total Yield (Value for TK: 12.8%)

KNTK (23.1%)

Kinetik

TNK (16.7%)

Teekay Tankers

HESM (13.6%)

Hess Midstream

ENB (13.2%)

Enbridge

INSW (12.9%)

International Seaways

SECTOR: Energy

Higher Rev Chg LTM (Value for TK: -16.7%)

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 TK: 26.9%)

UUUU (97.8%)

Energy Fuels

EXE (37.0%)

Expand Energy

NE (36.2%)

Noble

PR (36.0%)

Permian Resources

CNR (29.6%)

Core Natural Resources

Higher Op Mgn LTM (Value for TK: 27.3%)

LNG (45.6%)

Cheniere Energy

TRP (44.4%)

TC Energy

WMB (36.9%)

Williams Companies

EOG (32.1%)

EOG Resources

KMI (27.8%)

Kinder Morgan

Higher CFO/Rev LTM (Value for TK: 38.3%)

FANG (58.7%)

Diamondback Energy

WMB (49.4%)

Williams Companies

OXY (48.8%)

Occidental Petroleum

TRP (48.2%)

TC Energy

EOG (44.5%)

EOG Resources

Higher FCF/Rev LTM (Value for TK: 32.1%)

AM (61.2%)

Antero Midstream

HESM (45.0%)

Hess Midstream

DTM (35.5%)

DT Midstream

EQT (34.0%)

EQT

PBA (32.2%)

Pembina Pipeline

Higher Total Yield (Value for TK: 12.8%)

SM (18.2%)

SM Energy

CNQ (15.0%)

Canadian Natural Resources

VAL (13.8%)

Valaris

HESM (13.6%)

Hess Midstream

ENB (13.2%)

Enbridge

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for TK: 26.9% | 0.9x)

SW (55.1% | 0.7x)

Smurfit WestRock

SMCI (66.3% | 0.5x)

Super Micro Computer

SNEX (32.4% | 0.0x)

StoneX

ALHC (40.5% | 0.8x)

Alignment Healthcare

FG (39.3% | 0.6x)

F&G Annuities & Life

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TK: 26.9% | 3.1x)

SNEX (32.4% | 2.8x)

StoneX

NUTX (63.0% | 2.4x)

Nutex Health

IMMR (424.7% | 2.3x)

Immersion

CANG (541.0% | 2.5x)

Cango

ATRA (437.1% | 1.7x)

Atara Biotherapeutics

Higher Rev Chg LTM (Value for TK: -16.7%)

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 TK: 26.9%)

NVDA (101.8%)

NVIDIA

MU (45.3%)

Micron Technology

PLTR (33.9%)

Palantir Technologies

LLY (32.1%)

Eli Lilly

BRK-B (27.0%)

Berkshire Hathaway

Higher Op Mgn LTM (Value for TK: 27.3%)

NVDA (60.4%)

NVIDIA

MSFT (46.7%)

Microsoft

AVGO (41.5%)

Broadcom

AAPL (32.4%)

Apple

GOOGL (32.0%)

Alphabet

Higher CFO/Rev LTM (Value for TK: 38.3%)

META (57.6%)

Meta Platforms

MSFT (52.5%)

Microsoft

NVDA (47.6%)

NVIDIA

AVGO (43.5%)

Broadcom

GOOGL (40.9%)

Alphabet

Higher FCF/Rev LTM (Value for TK: 32.1%)

V (55.4%)

Visa

MA (50.1%)

Mastercard

PLTR (46.9%)

Palantir Technologies

NVDA (44.8%)

NVIDIA

AVGO (42.3%)

Broadcom

Higher Total Yield (Value for TK: 12.8%)

CMCSA (24.2%)

Comcast

TD (14.2%)

Toronto-Dominion Bank

BNS (13.9%)

Bank of Nova Scotia

UPS (13.6%)

United Parcel Service

VZ (13.5%)

Verizon Communications

Best Bets in Energy

What You Pay

P/EBIT (Value for TK: 2.5x)

AM (14.6x)

Antero Midstream

HESM (5.0x)

Hess Midstream

DTM (18.1x)

DT Midstream

INSW (10.0x)

International Seaways

WHD (12.7x)

Cactus

CRC (9.6x)

California Resources

EQT (12.3x)

EQT

CTRA (11.1x)

Coterra Energy

LNG (6.9x)

Cheniere Energy

WMB (17.7x)

Williams Companies

P/E (Value for TK: 7.8x)

AM (26.7x)

Antero Midstream

HESM (14.6x)

Hess Midstream

DTM (31.2x)

DT Midstream

INSW (11.4x)

International Seaways

WHD (20.1x)

Cactus

CRC (16.1x)

California Resources

EQT (20.7x)

EQT

CTRA (16.1x)

Coterra Energy

LNG (11.9x)

Cheniere Energy

WMB (34.3x)

Williams Companies

What You Get

Rev Chg 3Y Avg (Value for TK: 26.9%)

AM (8.4%)

Antero Midstream

HESM (8.3%)

Hess Midstream

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 TK: -16.7%)

AM (7.0%)

Antero Midstream

HESM (8.4%)

Hess Midstream

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 TK: -24.4%)

AM (3.1%)

Antero Midstream

HESM (2.1%)

Hess Midstream

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 TK: 29.9%)

AM (55.3%)

Antero Midstream

HESM (45.1%)

Hess Midstream

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	With Teekay Stock Sliding, Have You Assessed The Risk?	10/17/2025
2	TK Dip Buy Analysis	07/10/2025
3	Time To Buy Teekay Stock?	05/16/2025
4	Teekay (TK) Valuation Ratios Comparison	05/15/2025
5	Teekay Total Shareholder Return (TSR): 21.0% in 2024 and 40.2% 3-yr compounded annual returns (above peer average)	03/07/2025

	Title
0	ARTICLES

Trade Ideas

Select ideas related to TK.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
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	82.3%	82.3%	-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	23.6%	23.6%	-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	56.9%	56.9%	-7.0%
WHD_11212025_Dip_Buyer_ValueBuy	11212025	WHD	Cactus	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	31.6%	31.6%	0.0%
OVV_10172025_Dip_Buyer_FCFYield	10172025	OVV	Ovintiv	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	41.7%	41.7%	0.0%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AGX	Argan	7.8	37.9%	81.1%
TBN	Tamboran Resources	0.9	25.6%	59.4%
U	Unity Software	8.3	13.5%	-56.0%
ADMA	ADMA Biologics	2.2	11.6%	-49.3%
METC	Ramaco Resources	1.0	11.4%	-13.6%
MEOH	Methanex	5.0	9.7%	64.8%
PTON	Peloton Interactive	1.9	8.8%	-28.1%
OXM	Oxford Industries	0.5	8.7%	3.0%
REX	REX American Resources	1.6	8.3%	47.7%
SGML	Sigma Lithium	1.2	7.8%	-20.7%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
BUR	Burford Capital	0.9	-47.1%	-53.6%
RCKT	Rocket Pharmaceuticals	0.4	-19.6%	7.4%
ZBIO	Zenas BioPharma	0.8	-17.8%	-49.8%
BKSY	BlackSky Technology	0.8	-17.2%	24.2%
PSNL	Personalis	0.6	-13.4%	-20.4%
SLS	SELLAS Life Sciences	0.5	-11.8%	15.8%
ANAB	AnaptysBio	1.6	-11.7%	18.4%
FLY	Firefly Aerospace	2.2	-11.6%	6.0%
INBX	Inhibrx Biosciences	0.9	-11.2%	-26.1%
YOU	Clear Secure	4.6	-11.2%	36.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
BCPC	Balchem	5.4	610.4%	8.9%
KOD	Kodiak Sciences	2.0	66.3%	32.3%
OLPX	Olaplex	1.3	51.9%	50.7%
CAR	Avis Budget	5.2	48.6%	15.7%
TBN	Tamboran Resources	0.9	36.0%	59.4%
ELVN	Enliven Therapeutics	2.4	33.8%	152.1%
TROX	Tronox	1.4	30.1%	120.3%
BORR	Borr Drilling	1.8	28.7%	50.1%
BRZE	Braze	2.5	25.5%	-32.9%
INDI	Indie Semiconductor	0.6	24.6%	-9.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
PIPR	Piper Sandler Cos	1.2	-75.2%	-12.4%
BUR	Burford Capital	0.9	-46.2%	-53.6%
WVE	WAVE Life Sciences	1.1	-45.9%	-62.6%
TASK	TaskUs	0.6	-37.8%	-15.9%
MAZE	Maze Therapeutics	1.4	-36.7%	-26.7%
ADMA	ADMA Biologics	2.2	-35.4%	-49.3%
CRCL	Circle Internet	21.5	-25.7%	18.1%
PLAY	Dave & Buster's Entertainment	0.3	-23.5%	-39.5%
EL	Estee Lauder Companies	24.3	-21.8%	-35.6%
NTSK	Netskope	1.9	-18.9%	-55.9%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
SOC	Sable Offshore	1.8	133.2%	104.5%
DAWN	Day One Biopharmaceuticals	2.2	101.0%	129.7%
VG	Venture Global	42.7	85.4%	157.4%
AAOI	Applied Optoelectronics	6.2	82.9%	181.7%
TNGX	Tango Therapeutics	2.1	68.9%	117.4%
AXTI	AXT	2.7	63.3%	270.8%
BW	Babcock & Wilcox Enterprises	1.5	61.7%	134.4%
PARR	Par Pacific	3.3	61.6%	86.9%
LWLG	Lightwave Logic	0.9	61.5%	123.3%
SM	SM Energy	3.8	56.2%	76.5%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
WVE	WAVE Life Sciences	1.1	-58.6%	-62.6%
BUR	Burford Capital	0.9	-51.4%	-53.6%
OLMA	Olema Pharmaceuticals	1.2	-44.0%	-45.3%
WING	Wingstop	4.3	-43.1%	-35.2%
FRMI	Fermi	3.7	-43.0%	-22.8%
PAR	PAR Technology	0.5	-43.0%	-64.7%
SES	SES AI	0.3	-42.6%	-45.1%
USAS	Americas Gold And Silver	1.5	-41.9%	7.6%
ITRG	Integra Resources	0.4	-41.0%	-36.2%
VITL	Vital Farms	0.6	-40.6%	-58.9%

Peer Comparisons

Peers to compare with:

Financials

	TK	INSW	DHT	STNG	TNK	NAT	Median
Name	Teekay	Internat.	DHT	Scorpio .	Teekay T.	Nordic A.
Mkt Price	12.00	71.16	18.10	75.71	72.45	5.66	44.63
Mkt Cap	1.0	3.5	2.9	3.6	2.5	1.2	2.7
Rev LTM	1,220	843	498	938	952	295	891
Op Inc LTM	333	306	172	310	215	17	261
FCF LTM	392	38	-33	417	14	-108	26
FCF 3Y Avg	398	261	97	664	344	32	302
CFO LTM	467	380	277	491	306	27	343
CFO 3Y Avg	432	539	276	727	470	104	451

Growth & Margins

	TK	INSW	DHT	STNG	TNK	NAT	Median
Name	Teekay	Internat.	DHT	Scorpio .	Teekay T.	Nordic A.
Rev Chg LTM	-16.7%	-11.4%	-12.8%	-24.6%	-22.6%	-19.8%	-18.2%
Rev Chg 3Y Avg	26.9%	0.5%	4.2%	-15.3%	-4.7%	92.1%	2.3%
Rev Chg Q	-24.4%	37.6%	9.7%	23.9%	-0.0%	-12.2%	4.8%
QoQ Delta Rev Chg LTM	-6.3%	9.5%	2.6%	5.5%	-0.0%	-2.1%	1.3%
Op Mgn LTM	27.3%	36.3%	34.5%	33.0%	22.6%	5.9%	30.1%
Op Mgn 3Y Avg	27.7%	45.0%	33.6%	44.2%	29.1%	19.6%	31.4%
QoQ Delta Op Mgn LTM	-2.8%	6.7%	6.4%	3.3%	4.4%	-3.0%	3.9%
CFO/Rev LTM	38.3%	45.1%	55.5%	52.4%	32.1%	9.3%	41.7%
CFO/Rev 3Y Avg	32.7%	55.6%	50.9%	61.1%	37.8%	24.7%	44.3%
FCF/Rev LTM	32.1%	4.5%	-6.7%	44.4%	1.4%	-36.8%	3.0%
FCF/Rev 3Y Avg	29.9%	25.7%	16.9%	55.4%	25.3%	2.1%	25.5%

Valuation

	TK	INSW	DHT	STNG	TNK	NAT	Median
Name	Teekay	Internat.	DHT	Scorpio .	Teekay T.	Nordic A.
Mkt Cap	1.0	3.5	2.9	3.6	2.5	1.2	2.7
P/S	0.9	4.2	5.8	3.8	2.6	4.1	3.9
P/EBIT	2.5	10.0	12.9	8.8	7.2	34.7	9.4
P/E	7.8	11.4	13.8	10.4	7.2	628.1	10.9
P/CFO	2.2	9.2	10.5	7.3	8.2	43.7	8.7
Total Yield	12.8%	12.9%	11.3%	12.0%	16.7%	0.2%	12.4%
Dividend Yield	0.0%	4.1%	4.1%	2.3%	2.7%	0.0%	2.5%
FCF Yield 3Y Avg	57.4%	12.7%	6.5%	25.7%	22.0%	3.9%	17.3%
D/E	0.1	0.2	0.1	0.2	0.0	0.4	0.2
Net D/E	-0.6	0.1	0.1	-0.0	-0.3	0.3	0.0

Returns

	TK	INSW	DHT	STNG	TNK	NAT	Median
Name	Teekay	Internat.	DHT	Scorpio .	Teekay T.	Nordic A.
1M Rtn	-7.3%	-2.9%	-7.1%	-4.3%	-7.4%	1.9%	-5.7%
3M Rtn	30.7%	51.1%	51.9%	48.0%	33.8%	70.2%	49.6%
6M Rtn	41.7%	58.0%	52.8%	32.6%	39.4%	89.0%	47.2%
12M Rtn	104.6%	132.5%	81.8%	104.1%	94.9%	154.0%	104.4%
3Y Rtn	157.8%	140.9%	122.3%	50.2%	95.8%	103.2%	112.7%
1M Excs Rtn	0.9%	9.0%	2.2%	6.7%	1.9%	15.9%	4.5%
3M Excs Rtn	39.8%	60.9%	61.4%	57.4%	43.1%	80.3%	59.2%
6M Excs Rtn	43.9%	61.0%	55.1%	36.5%	42.4%	91.9%	49.5%
12M Excs Rtn	93.1%	113.2%	67.5%	87.4%	82.8%	138.5%	90.3%
3Y Excs Rtn	83.5%	63.2%	49.0%	-16.4%	22.4%	33.5%	41.2%

FDIC Bank Data

Bank Capital

null

Bank Deposits

null

Bank Assets

null

Bank Loans

null

FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	12/31/2024	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	3/14/2025	3/13/2026	3/14/2025	3/15/2024	3/31/2023	4/6/2022	4/1/2021
Key Financials
Total Revenue	1,220	950	1,220	1,465	1,190	683	1,146
EBITDA	503	437	503	655	349	-108	202
Operating Income	333	207	333	523	238	-94	184
Net Income	134	98	134	151	78	8	-83
EPS	1.46	1.14	1.47	1.59	0.77	0.08	-0.82
Growth Rates
Total Revenue Growth	-16.7%	-22.2%	-16.7%	23.1%	74.4%	-40.5%	-10.1%
EBITDA Growth	-23.2%	-13.2%	-23.2%	87.9%	423.0%	-153.5%	585.4%
Operating Income Growth	-36.4%	-37.9%	-36.4%	119.7%	354.2%	-150.8%	126.2%
Net Income Growth	-11.2%	-26.7%	-11.2%	92.1%	904.4%	109.4%	73.3%
Margins
EBITDA Margin	41.2%	46.0%	41.2%	44.7%	29.3%	-15.8%	17.6%
Operating Income Margin	27.3%	21.8%	27.3%	35.7%	20.0%	-13.7%	16.1%
Net Income Margin	11.0%	10.3%	11.0%	10.3%	6.6%	1.1%	-7.2%
Cash & Debt
Total Cash	718	973	718	653	520	121	130
Total Debt	62	46	62	227	610	1,016	997
Net Debt / (Cash)	-655	-926	-655	-425	90	895	868
Cash Flows
Net Cash from Operations	467	302	467	630	199	78	984
Free Cash from Operations	392	109	392	620	184	57	968
Returns to Shareholders
Dividends	0	85	85	-0	-0	-0	-0
Share Repurchases	116	5	116	55	21	5	-0

$ Mil \| FY: 12/31	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Period End	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022	3/31/2022
Filing Date	3/14/2025	11/1/2024	8/2/2024	5/10/2024	3/15/2024	11/3/2023	8/4/2023	5/12/2023	3/31/2023	11/4/2022	8/5/2022	5/12/2022
Key Financials Quarterly
Total Revenue	257	273	326	365	339	312	395	419	393	303	281	213
Ebitda	106	87	137	173	146	113	188	208	179	116	52	1
Operating Income	44	58	102	129	103	81	158	181	155	63	28	-8
Net Income	25	20	34	55	35	26	40	49	39	33	5	1
EPS	0.29	0.22	0.36	0.59	0.38	0.28	0.43	0.49	0.39	0.32	0.05	0.01
Key Financials TTM
Total Revenue TTM	1,220	1,303	1,342	1,411	1,465	1,519	1,511	1,396	1,190	993	838	711
Ebitda TTM	503	544	570	620	655	688	691	555	349	153	13	-116
Operating Income TTM	333	392	415	470	523	575	557	427	238	62	-46	-85
Net Income TTM	134	144	150	157	151	154	161	126	78	22	-14	-21
Growth Rates Quarterly
Total Revenue Growth	-24.4%	-12.5%	-17.5%	-12.8%	-13.8%	2.8%	40.8%	96.8%	100.3%	104.4%	83.3%	15.3%
EBITDA Growth	-27.8%	-23.2%	-26.8%	-16.7%	-18.3%	-2.6%	260.2%	15611.7%	1204.4%	573.6%	168.0%	-88.6%
Operating Income Growth	-57.3%	-28.8%	-35.2%	-29.0%	-33.6%	28.0%	471.5%	2501.5%	825.6%	241.5%	351.7%	46.3%
Net Income Growth	-28.7%	-23.3%	-16.2%	12.0%	-9.5%	-21.1%	663.7%	5391.3%	324.9%	1237.4%	386.4%	-97.0%
Margins Quarterly
EBITDA Margin	41.2%	31.9%	42.1%	47.4%	43.2%	36.3%	47.5%	49.6%	45.5%	38.3%	18.6%	0.6%
Operating Income Margin	17.1%	21.2%	31.3%	35.3%	30.3%	26.1%	39.9%	43.3%	39.3%	20.9%	9.8%	-3.6%
Net Income Margin	9.8%	7.4%	10.4%	15.0%	10.4%	8.4%	10.2%	11.6%	9.9%	10.9%	1.9%	0.4%
Cash & Debt
Total Cash	718	744	755	661	653	511	451	461	520	430	376	332
Total Debt	62	67	77	80	227	242	311	464	610	621	665	648
Net Debt / (Cash)	-655	-677	-678	-581	-425	-269	-140	3	90	191	289	316
Cash Flows Quarterly
FCF from Operations	61	116	161	130	134	136	204	155	144	68	2	-15
Cash Flows TTM
FCF from Operations TTM	467	541	561	605	630	640	572	370	199	87	46	83
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	60	57	-0	0	4	3	33	15	10	5	-0	5
Return on Invested Capital (ROIC) Quarterly
ROIC	79.3%	98.4%	145.5%	141.2%	77.2%	47.8%	73.1%	71.6%	55.3%	20.3%	8.2%	-3.4%
Return on Invested Capital (ROIC) TTM
ROIC TTM	150.3%	166.3%	152.3%	127.1%	98.3%	83.0%	66.8%	42.3%	21.3%	5.1%	-3.4%	-9.7%

Segment Financials

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Tankers	1,417	1,508	1,603	1,568	1,743
Cash and cash equivalents	685	480	310	109	349
Marine Services and Other	41	36	44	17
Short-term investments	10	173	210
Eliminations		-0	-2	-4	-16
Other assets not allocated				17	132
Teekay Parent - Offshore Production				21	31
Total assets - discontinued operations				4,804
Teekay LNG - Liquefied Gas Carriers					4,647
Teekay Parent - Other					60
Total	2,153	2,197	2,165	6,532	6,946

Price Behavior

Price Behavior

Market Price	$12.00
Market Cap ($ Bil)	1.0
First Trading Date	07/20/1995
Distance from 52W High	-7.3%
	50 Days	200 Days
DMA Price	$11.28	$9.23
DMA Trend	up	up
Distance from DMA	6.4%	30.0%
	3M	1YR
Volatility	40.7%	37.2%
Downside Capture	-0.19	-0.11
Upside Capture	130.02	61.97
Correlation (SPY)	31.3%	28.1%

TK Betas & Captures as of 2/28/2026

	1M	2M	3M	6M	1Y	3Y
Beta	1.32	0.53	0.29	0.34	0.49	0.48
Up Beta	0.17	1.16	0.99	0.65	0.55	0.49
Down Beta	3.49	1.98	1.29	0.79	0.95	0.69
Up Capture	315%	121%	57%	70%	40%	23%
Bmk +ve Days	9	20	31	70	142	431
Stock +ve Days	15	24	32	66	135	379
Down Capture	-119%	-221%	-154%	-75%	-59%	40%
Bmk -ve Days	12	21	30	54	109	320
Stock -ve Days	6	16	27	55	111	357

[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 TK
TK	105.2%	37.0%	2.01	-
Sector ETF (XLE)	37.0%	24.9%	1.22	30.0%
Equity (SPY)	14.5%	18.9%	0.59	28.0%
Gold (GLD)	50.2%	27.7%	1.46	9.3%
Commodities (DBC)	17.8%	17.6%	0.85	28.6%
Real Estate (VNQ)	0.4%	16.4%	-0.15	22.3%
Bitcoin (BTCUSD)	-23.7%	44.2%	-0.49	8.2%

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 TK
TK	35.2%	40.3%	0.86	-
Sector ETF (XLE)	25.3%	26.1%	0.86	44.1%
Equity (SPY)	11.8%	17.0%	0.54	24.7%
Gold (GLD)	20.7%	17.7%	0.96	11.3%
Commodities (DBC)	11.6%	18.9%	0.50	32.7%
Real Estate (VNQ)	3.0%	18.8%	0.07	14.6%
Bitcoin (BTCUSD)	4.0%	56.6%	0.29	7.5%

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 TK
TK	5.9%	55.6%	0.33	-
Sector ETF (XLE)	11.4%	29.4%	0.42	48.0%
Equity (SPY)	14.0%	17.9%	0.67	34.2%
Gold (GLD)	13.3%	15.8%	0.70	1.1%
Commodities (DBC)	8.2%	17.6%	0.39	35.7%
Real Estate (VNQ)	4.7%	20.7%	0.19	23.6%
Bitcoin (BTCUSD)	66.4%	66.8%	1.06	6.4%

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

Short Interest

Short Interest: As Of Date	3132026
Short Interest: Shares Quantity	2.9 Mil
Short Interest: % Change Since 2282026	2.0%
Average Daily Volume	0.7 Mil
Days-to-Cover Short Interest	4.4 days
Basic Shares Quantity	86.9 Mil
Short % of Basic Shares	3.3%

Returns Analyses

	Title
0	With Teekay Stock Sliding, Have You Assessed The Risk?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
SUMMARY STATS
# Positive	0	0	0
# Negative	0	0	0
Median Positive
Median Negative
Max Positive
Max Negative

SEC Filings

Expand for More

Report Date	Filing Date	Filing
12/31/2025	03/13/2026	20-F
06/30/2025	08/01/2025	6-K
12/31/2024	03/14/2025	20-F
09/30/2024	11/01/2024	6-K
06/30/2024	08/02/2024	6-K
03/31/2024	05/10/2024	6-K
12/31/2023	03/15/2024	20-F
09/30/2023	11/03/2023	6-K
06/30/2023	08/04/2023	6-K
03/31/2023	05/12/2023	6-K
12/31/2022	03/31/2023	20-F
09/30/2022	11/04/2022	6-K
06/30/2022	08/05/2022	6-K
03/31/2022	05/12/2022	6-K
12/31/2021	04/06/2022	20-F
09/30/2021	11/10/2021	6-K

Recent Forward Guidance [BETA]

Latest: null Earnings Reported N/A/N/A/N/A | Prior: null Earnings Reported N/A/N/A/N/A

null

Insider Activity

Expand for Morenull

TK Trade Sentinel

Stock Conviction

null

CONVICTION RATIONALE

null

STOCK ARCHETYPE

null

INVESTMENT THESIS

null

Mechanism: null

Supporting Evidence:

PRIMARY RISK

null

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 TK?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What TK Makes & Who Pays

TTM figures based on

TK 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

Prefer one of these to Trefis? Tell us why.

Teekay (TK)

Market Price (3/30/2026): $12.0 | Market Cap: $1.0 BilSector: Energy | Industry: Oil & Gas Storage & Transportation

Teekay (TK)

Market Price (3/30/2026): $12.0Market Cap: $1.0 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 Teekay (TK)

International Crude Oil and Other Marine Transportation Services

Ship-to-Ship Transfer Services

Operational and Maintenance Marine, and Offshore Production Services

Capital Allocation Decisions for Teekay Corporation (TK)

Share Repurchases

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets vs. Teekay (TK)

INDUSTRY: Oil & Gas Storage & Transportation

Higher Rev Chg LTM (Value for TK: -16.7%)

Higher Rev Chg 3Y Avg (Value for TK: 26.9%)

Higher Op Mgn LTM (Value for TK: 27.3%)

Higher CFO/Rev LTM (Value for TK: 38.3%)

Higher FCF/Rev LTM (Value for TK: 32.1%)

Higher Total Yield (Value for TK: 12.8%)

SECTOR: Energy

Higher Rev Chg LTM (Value for TK: -16.7%)

Higher Rev Chg 3Y Avg (Value for TK: 26.9%)

Higher Op Mgn LTM (Value for TK: 27.3%)

Higher CFO/Rev LTM (Value for TK: 38.3%)

Higher FCF/Rev LTM (Value for TK: 32.1%)

Higher Total Yield (Value for TK: 12.8%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for TK: 26.9% | 0.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TK: 26.9% | 3.1x)

Higher Rev Chg LTM (Value for TK: -16.7%)

Higher Rev Chg 3Y Avg (Value for TK: 26.9%)

Higher Op Mgn LTM (Value for TK: 27.3%)

Higher CFO/Rev LTM (Value for TK: 38.3%)

Higher FCF/Rev LTM (Value for TK: 32.1%)

Higher Total Yield (Value for TK: 12.8%)

Best Bets in Energy

P/EBIT (Value for TK: 2.5x)

P/E (Value for TK: 7.8x)

Rev Chg 3Y Avg (Value for TK: 26.9%)

Rev Chg LTM (Value for TK: -16.7%)

Rev Chg Q (Value for TK: -24.4%)

FCF/Rev 3Y Avg (Value for TK: 29.9%)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Financials

Market Price (3/30/2026): $12.0 | Market Cap: $1.0 Bil
Sector: Energy | Industry: Oil & Gas Storage & Transportation

Market Price (3/30/2026): $12.0
Market Cap: $1.0 Bil
Sector: Energy
Industry: Oil & Gas Storage & Transportation