Tearsheet

Teekay Tankers (TNK)

Market Price (2/19/2026): $72.03 | Market Cap: $2.5 Bil
Sector: Energy | Industry: Oil & Gas Storage & Transportation

Teekay Tankers (TNK)

Market Price (2/19/2026): $72.03
Market Cap: $2.5 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 15%, Dividend Yield is 2.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%	Trading close to highs Dist 52W High is 0.0%, Dist 3Y High is 0.0%	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -32%, Rev Chg QQuarterly Revenue Change % is -17%
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 -30%	Weak multi-year price returns 2Y Excs Rtn is -2.2%	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 51%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%		Key risks TNK key risks include [1] the significant capital expenditure required for renewing its aging fleet, Show more.
3	Low stock price volatility Vol 12M is 40%
4	Megatrend and thematic drivers Megatrends include Global Energy Supply Chains. Themes include Crude Oil Transportation, Maritime Energy Logistics, and Global Petroleum Trade Infrastructure.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 2.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%
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 -30%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%
3	Low stock price volatility Vol 12M is 40%
4	Megatrend and thematic drivers Megatrends include Global Energy Supply Chains. Themes include Crude Oil Transportation, Maritime Energy Logistics, and Global Petroleum Trade Infrastructure.
5	Trading close to highs Dist 52W High is 0.0%, Dist 3Y High is 0.0%
6	Weak multi-year price returns 2Y Excs Rtn is -2.2%
7	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -32%, Rev Chg QQuarterly Revenue Change % is -17%
8	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 51%
9	Key risks TNK key risks include [1] the significant capital expenditure required for renewing its aging fleet, Show more.

Valuation, Metrics & Events

	2/19/26	2025	2024	2023	2022	2021
Share Price CYE	$72.03	$53.42	$39.79	$49.97	$30.81	$10.90
Market Cap CYE ($ Bil)	2.5	1.9	1.4	1.7	1.0	0.4
Total Debt ($ Bil)	0.0	0.0	0.1	0.2	0.6	0.6
Total Cash ($ Bil)	0.8	0.8	0.5	0.2	0.1	0.1
Enterprise Value ($ Bil)	1.7	1.9	1.5	1.9	1.6	1.0
Valuation Ratios
P/S TTM	2.6	1.9	1.0	1.1	1.2	0.7
P/EBIT TTM	8.0	5.9	3.0	2.9	13.8	-1.7
P/E TTM	8.0	5.9	3.1	3.1	24.5	-1.3
P/FCF TTM	27.7	20.5	3.0	2.7	207.8	-3.5
Sector Ratios
P/S TTM (Sector)	1.6	1.4	1.6	1.5	1.3	1.4
P/EBIT TTM (Sector)	9.3	7.6	6.0	5.7	4.0	0.2
P/E TTM (Sector)	14.6	11.6	9.6	8.1	5.2	-1.5
P/FCF TTM (Sector)	9.8	8.2	7.2	7.4	5.0	6.0

	2/19/26	2025	2024
Share Price CYE	$72.03	$53.42	$39.79
Market Cap CYE ($ Bil)	2.5	1.9	1.4
Total Debt ($ Bil)	0.0	0.0	0.1
Total Cash ($ Bil)	0.8	0.8	0.5
Enterprise Value ($ Bil)	1.7	1.9	1.5
Valuation Ratios
P/S TTM	2.6	1.9	1.0
P/EBIT TTM	8.0	5.9	3.0
P/E TTM	8.0	5.9	3.1
P/FCF TTM	27.7	20.5	3.0
Sector Ratios
P/S TTM (Sector)	1.6	1.4	1.6
P/EBIT TTM (Sector)	9.3	7.6	6.0
P/E TTM (Sector)	14.6	11.6	9.6
P/FCF TTM (Sector)	9.8	8.2	7.2

	TNK	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	1.0
Rev Chg Q	-16.5%	7.5%
Rev Chg LTM	-31.7%	6.5%
Rev Chg 3Y Avg	12.8%	5.6%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	0.3
Op Mgn LTM	18.2%	18.8%
CFO/Rev LTM	29.7%	20.7%
Net Inc Mgn	32.9%	12.8%
VALUATION	MODERATE
P/S	2.6	3.4
P/CFO	8.8	16.4
P/FCF	27.7	21.6
P/E	8.0	24.8
STABILITY	VERY GOOD
Debt/Equity	0.01	0.20
Cash/Assets	0.38	0.07

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Metric	Value	Date	Source
Owned Fleet Size	34	9302025	Link
Suezmax Tankers Owned	17	9302025	Link
Aframax / LR2 Tankers Owned	16	9302025	Link
VLCC Tankers (50% owned)	1	9302025	Link
Time Chartered-in Vessels	3	9302025	Link
Average Fleet Age	Over 15 years	12162024	Link
Suezmax Spot TCE per Revenue Day	28386	12312024	Link
Aframax / LR2 Spot TCE per Revenue Day	30488	12312024	Link

Upcoming
2/18/2026	Earnings Release	Rev: $158 Mil (A) vs. $186 Mil (E) EPS: 2.80 (A) vs. $2.71 (E)
5/06/2026	Earnings Release	Rev: - EPS: -

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Teekay Tankers (TNK) stock has gained about 20% since 10/31/2025 because of the following key factors:

1. Sustained Strong Tanker Market Conditions

The tanker sector has experienced robust market conditions, particularly for crude tankers, from late 2025 into early 2026. Geopolitical factors, including rerouted trade and sanctions, have led to increased tonne-mile demand, meaning vessels travel longer distances, which boosts freight rates. Notably, larger crude tankers, such as VLCCs, reportedly earned over $100,000 per day in Q4 2025. Teekay Tankers, which operates a fleet including Suezmax and Aframax tankers, benefited as mid-size crude tankers led market gains, with Aframax rates reaching multi-year highs in January 2026, and Suezmax spot rates surging past $65,000 per day in Q4 2025. This strong operating environment is further supported by modest fleet growth in the VLCC and Suezmax segments in 2025, aligning well with demand increases.

2. Positive Analyst Sentiment and Price Target Upgrades

During this period, Teekay Tankers received multiple positive revisions from Wall Street analysts, signaling increased confidence in the company's prospects. Jefferies Financial Group, for instance, raised its price objective for Teekay Tankers from $66.00 to $70.00 and reiterated a "buy" rating on October 30, 2025. Similarly, Evercore lifted its price objective from $53.00 to $60.00 and issued an "outperform" rating on October 28, 2025. More recently, on February 4, 2026, Zacks Research upgraded Teekay Tankers from a "hold" to a "strong-buy" rating. The consensus analyst rating for the stock is currently "Buy," with some analysts assigning a "Strong Buy" rating.

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Stock Movement Drivers

Fundamental Drivers

The 19.4% change in TNK stock from 10/31/2025 to 2/18/2026 was primarily driven by a 19.4% change in the company's P/E Multiple.

(LTM values as of)	10312025	2182026	Change
Stock Price ($)	60.75	72.54	19.4%
Change Contribution By:
Total Revenues ($ Mil)	952	952	0.0%
Net Income Margin (%)	32.9%	32.9%	0.0%
P/E Multiple	6.7	8.0	19.4%
Shares Outstanding (Mil)	35	35	0.0%
Cumulative Contribution			19.4%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 2/18/2026

	Return	Correlation
TNK	19.4%
Market (SPY)	0.6%	5.8%
Sector (XLE)	24.3%	7.8%

Fundamental Drivers

The 73.0% change in TNK stock from 7/31/2025 to 2/18/2026 was primarily driven by a 83.9% change in the company's P/E Multiple.

(LTM values as of)	7312025	2182026	Change
Stock Price ($)	41.94	72.54	73.0%
Change Contribution By:
Total Revenues ($ Mil)	1,093	952	-12.9%
Net Income Margin (%)	30.3%	32.9%	8.6%
P/E Multiple	4.4	8.0	83.9%
Shares Outstanding (Mil)	34	35	-0.5%
Cumulative Contribution			73.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 2/18/2026

	Return	Correlation
TNK	73.0%
Market (SPY)	8.9%	12.8%
Sector (XLE)	26.7%	10.0%

Fundamental Drivers

The 80.7% change in TNK stock from 1/31/2025 to 2/18/2026 was primarily driven by a 155.1% change in the company's P/E Multiple.

(LTM values as of)	1312025	2182026	Change
Stock Price ($)	40.14	72.54	80.7%
Change Contribution By:
Total Revenues ($ Mil)	1,394	952	-31.7%
Net Income Margin (%)	31.5%	32.9%	4.2%
P/E Multiple	3.2	8.0	155.1%
Shares Outstanding (Mil)	34	35	-0.5%
Cumulative Contribution			80.7%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2025 to 2/18/2026

	Return	Correlation
TNK	80.7%
Market (SPY)	15.0%	23.8%
Sector (XLE)	28.1%	29.6%

Fundamental Drivers

The 169.6% change in TNK stock from 1/31/2023 to 2/18/2026 was primarily driven by a 556.6% change in the company's Net Income Margin (%).

(LTM values as of)	1312023	2182026	Change
Stock Price ($)	26.91	72.54	169.6%
Change Contribution By:
Total Revenues ($ Mil)	856	952	11.2%
Net Income Margin (%)	5.0%	32.9%	556.6%
P/E Multiple	21.4	8.0	-62.4%
Shares Outstanding (Mil)	34	35	-1.8%
Cumulative Contribution			169.6%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2023 to 2/18/2026

	Return	Correlation
TNK	169.6%
Market (SPY)	75.1%	16.6%
Sector (XLE)	33.7%	28.6%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
TNK Return	-1%	183%	69%	-17%	40%	34%	642%
Peers Return	-4%	195%	29%	-13%	27%	34%	438%
S&P 500 Return	27%	-19%	24%	23%	16%	-0%	82%
Monthly Win Rates [3]
TNK Win Rate	33%	67%	58%	33%	67%	100%
Peers Win Rate	45%	73%	55%	37%	65%	100%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
TNK Max Drawdown	-7%	-5%	-13%	-22%	-13%	-4%
Peers Max Drawdown	-11%	-9%	-12%	-18%	-18%	-3%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-1%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: STNG, INSW, DHT, 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 2/18/2026 (YTD)

How Low Can It Go

Unique Key	Event	TNK	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-34.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	53.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	125 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-62.9%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	169.3%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	650 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-64.7%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	183.3%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	351 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-73.9%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	283.6%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	Not Fully Recovered days	1,480 days

Compare to STNG, INSW, DHT, NAT, ASC

In The Past

Teekay Tankers's stock fell -34.9% during the 2022 Inflation Shock from a high on 5/21/2021. A -34.9% loss requires a 53.7% gain to breakeven.

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About Teekay Tankers (TNK)

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

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products. It also provides tanker commercial and technical management services. As of December 31, 2021, the company owned and leased 48 double-hull oil tankers, time-chartered in two Aframax tankers, and one LR2 tanker. Teekay Tankers Ltd. was incorporated in 2007 and is headquartered in Hamilton, Canada.

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Here are 1-3 brief analogies for Teekay Tankers (TNK):

Enterprise Rent-A-Car, but for massive oil tankers.
FedEx or UPS, but moving crude oil and refined products across the world's oceans.
A landlord for global energy companies, renting out huge floating oil pipelines.

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Crude Oil Shipping: Provides global marine transportation of crude oil for various customers.
Refined Petroleum Product Shipping: Offers global seaborne transportation of refined petroleum products, including gasoline, diesel, and jet fuel.

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Teekay Tankers Ltd. (TNK) is a marine transportation company that provides crude oil and refined product shipping services. As such, its customers are primarily other companies, not individuals.

Teekay Tankers' major customers typically include:

Major Oil Companies: Such as ExxonMobil (XOM), Shell (SHEL), BP (BP), Chevron (CVX), TotalEnergies (TTE), etc.
National Oil Companies (NOCs): Entities like Saudi Aramco (2222.SR), ADNOC, Petrobras (PBR), etc.
Oil Traders: Large trading houses that buy and sell crude oil and refined products, such as Vitol, Trafigura, Glencore (GLEN.L), Gunvor, Mercuria, etc.
Refiners: Companies that operate oil refineries and need to transport crude oil to their facilities or refined products to market.
Other Shipping Companies: Through sub-chartering arrangements.

Teekay Tankers operates on a charter basis (time charters, bareboat charters, and spot market voyages), meaning its revenue comes from the companies that charter its vessels to transport oil and refined products.

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Kenneth Hvid, President and Chief Executive Officer

Kenneth Hvid was appointed President and Chief Executive Officer of Teekay Tankers Ltd. in August 2024, and also serves as President and Chief Executive Officer and a director of Teekay Corporation Ltd.. He joined Teekay Tankers' board of directors in 2017 and served as its Chair from 2019 to 2024. Mr. Hvid has over 35 years of global shipping experience, including 12 years with A.P. Moller. He joined Teekay Corporation in 2000, holding various senior roles such as Senior Vice President, Teekay Gas Services (2004), President of the Teekay Navion Shuttle Tankers and Offshore division (2006), Chief Strategy Officer and Executive Vice President (2011-2015), and President and Chief Executive Officer of Teekay Offshore Group Ltd. (2015-2016). He also served as a director of Teekay GP L.L.C., the general partner of Teekay LNG Partners L.P. (now known as Seapeak LLC), from 2011 to 2015 and 2018 to 2022, and as its Chair from May 2019 until January 2022. Teekay LNG Partners L.P. was acquired by Stonepeak Infrastructure Partners in a $6.2 billion transaction in 2021, and subsequently rebranded as Seapeak.

Brody Speers, Chief Financial Officer

Brody Speers was appointed Chief Financial Officer of Teekay Tankers Ltd. and Teekay Corporation Ltd. in August 2024. Prior to this role, he held several senior financial positions within Teekay, including Vice President, Finance of Teekay Corporation Ltd. since 2018, Treasurer of Teekay Corporation Ltd. since 2022, and Chief Financial Officer of Teekay Gas Group Ltd. from 2017 to 2018. Teekay Gas Group Ltd. provided services to Teekay LNG Partners L.P. (now Seapeak LLC), which was acquired by Stonepeak Infrastructure Partners in 2021. Mr. Speers joined Teekay in 2008, and before that, he worked as a Chartered Professional Accountant for an accounting firm in Vancouver, Canada.

Mikkel Seidelin, Chief Commercial Officer

Mikkel Seidelin was appointed Chief Commercial Officer of Teekay Tankers Ltd. in August 2024, having previously served as its Head of Chartering & Commercial Operations since 2023. 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. Mr. Seidelin holds an Executive MBA from INSEAD.

Rohit Kapoor, Ship Management

Anne Liversedge, General Counsel and Company Secretary

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Here are the key risks to Teekay Tankers (TNK):

Cyclical Nature of the Tanker Industry and Volatility of Tanker Rates/Oil Demand
The profitability of Teekay Tankers is highly dependent on the cyclical nature of the international tanker market, with charter rates fluctuating significantly based on global oil demand and the supply-demand balance of vessels. A downturn in the global economy, weak oil demand growth (particularly from major consumers like China), or an oversupply of tankers can lead to lower charter rates and reduced profitability. For example, Suezmax tanker rates have been in a multi-year decline since peaking in Q4 2022. OPEC+ production policies and global economic growth directly influence these market conditions.
Geopolitical Volatility
Increased geopolitical instability and events, especially in critical shipping regions like the Middle East, pose significant risks to Teekay Tankers. Such events can raise operational risks and costs, disrupt established shipping routes (e.g., Red Sea), and impact global oil supply and demand dynamics, all of which can directly influence tanker rates and operational efficiency.
Aging Fleet, Fleet Renewal Costs, and Regulatory Environment
A substantial portion of Teekay Tankers' fleet is aged, with approximately 50% of its vessels being over 15 years old, necessitating ongoing fleet renewal efforts. This requires significant capital expenditures for vessel acquisitions or upgrades, which could increase financial leverage. Furthermore, the company faces increasing financial and operational risks due to a tightening regulatory environment, particularly concerning environmental, social, and governance (ESG) factors and emissions controls. Compliance with new regulations, such as the inclusion of the maritime industry in the European Union Emissions Trading System (EU ETS), can lead to increased operating costs, require vessels to be taken out of service for retrofitting, and potentially impact revenue-generating capacity.

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The acceleration of the global energy transition away from fossil fuels, directly threatening the long-term demand for the marine transportation of crude oil and refined petroleum products.

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Teekay Tankers Ltd. (TNK) operates primarily in the marine transportation of crude oil and refined petroleum products globally. Their main services include crude oil tanker services and product tanker services. The addressable markets for Teekay Tankers' main products and services are as follows:

Global Tanker Shipping Market (Crude Oil and Refined Petroleum Products Transportation): The global tanker shipping market, which encompasses the transportation of liquid cargo such as crude oil and refined petroleum products, was valued at approximately USD 237.6 billion in 2024. This market is projected to reach USD 273.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 2.9% during the forecast period from 2026 to 2032. Another estimate indicates the global tanker shipping market is projected to grow from USD 209.4 billion in 2024 to USD 345.2 billion by 2035, at a CAGR of 4.65% during the forecast period from 2025 to 2035.
Global Crude Oil Tankers Market: Teekay Tankers specializes in crude oil tanker services. The global crude oil carrier market size was estimated at USD 263.73 billion in 2024 and is projected to grow to USD 391.72 billion by 2035, exhibiting a CAGR of 3.66% during the forecast period from 2025 to 2035. Another report valued the global crude oil tankers market at approximately USD 179.86 billion in 2025, forecasted to reach USD 244.71 billion by 2034 with a CAGR of about 3.48%.
Product Tanker Services: null
Ship-to-Ship Transfer Services: null
Commercial and Technical Management: null

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Here are 3-5 expected drivers of future revenue growth for Teekay Tankers (TNK) over the next 2-3 years:

Strong Tanker Market Fundamentals and Rising Global Oil Demand: Teekay Tankers is poised to benefit from an anticipated increase in global oil demand. The International Energy Agency (IEA) projects global oil demand to grow by 0.7 million barrels per day in both 2025 and 2026, reaching record highs. This healthy growth in demand, coupled with a balanced fleet supply outlook due to an aging global tanker fleet and constraints on available shipyard space, is expected to support strong tanker rates, particularly for Suezmax and Aframax vessels, which are key segments for Teekay Tankers.
Strategic Fleet Renewal and Modernization: The company has been actively engaged in strategic fleet management, including the acquisition of modern vessels and the sale of older ones. This fleet renewal strategy aims to enhance operational efficiency and capitalize on regulatory changes, positioning Teekay Tankers to meet evolving market demands and potentially secure higher charter rates for its modern fleet. For example, in 2025, Teekay Tankers has already sold or agreed to sell 11 vessels and acquired a Suezmax and a 50% ownership stake in a VLCC.
Favorable Spot Market Exposure and Higher Spot Rates: Teekay Tankers utilizes a mix of spot market voyages and time-charter contracts. Historically, strong spot rates, particularly for Suezmaxes, have positively impacted earnings. The company anticipates a firm winter tanker market driven by rising global oil demand and expects increased oil production, particularly from OPEC+ unwinding supply cuts and higher production from South America, which could further support favorable spot tanker rates.
Increased Oil Production from Key Regions: Expectations of increased oil production in the second half of the year, driven by OPEC+ unwinding supply cuts and higher output from regions like South America, are anticipated to boost seaborne crude trade volumes. This increased supply directly translates to a greater need for tanker services, providing a significant tailwind for Teekay Tankers' revenue.

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Share Repurchases

Teekay Tankers has been actively returning capital to shareholders through share buybacks.

Share Issuance

The number of Teekay Tankers' shares outstanding increased by 0.15% in the last 12 months as of October 29, 2025.
As of November 8, 2025, Teekay Tankers had a negative share buyback ratio of -0.53%, indicating a net increase in shares outstanding.

Capital Expenditures

Teekay Tankers' annual capital expenditures have varied, with $16 million in 2020, $21 million in 2021, $15 million in 2022, $10 million in 2023, and $75 million in 2024.
As part of its fleet renewal plan in 2025, the company acquired a 2019-built LR2 vessel, a 2017-built Suezmax tanker for $64.3 million, and the remaining 50% ownership interest of a VLCC tanker for $63 million.
Also in 2025, Teekay Tankers sold six vessels, generating total gross proceeds of approximately $183 million as part of its fleet modernization efforts.

Interactive Breakdown

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NE (36.2% | 2.1x)

Noble

RIG (14.6% | 1.5x)

Transocean

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TNK: 12.8% | 14.6x)

OKE (16.4% | 9.3x)

ONEOK

FANG (20.8% | 9.0x)

Diamondback Energy

PR (48.7% | 6.2x)

Permian Resources

NE (36.2% | 13.7x)

Noble

VNOM (14.4% | 10.3x)

Viper Energy

Higher Rev Chg LTM (Value for TNK: -31.7%)

ENB (21.9%)

Enbridge

WMB (9.0%)

Williams Companies

COP (8.2%)

ConocoPhillips

CVX (-3.6%)

Chevron

XOM (-4.4%)

Exxon Mobil

Higher Rev Chg 3Y Avg (Value for TNK: 12.8%)

PR (48.7%)

Permian Resources

CCJ (24.2%)

Cameco

FANG (20.8%)

Diamondback Energy

OKE (16.4%)

ONEOK

FTI (14.5%)

TechnipFMC

Higher Op Mgn LTM (Value for TNK: 18.2%)

WMB (34.3%)

Williams Companies

EOG (33.4%)

EOG Resources

KMI (27.8%)

Kinder Morgan

COP (21.0%)

ConocoPhillips

CNQ (20.3%)

Canadian Natural Resources

Higher CFO/Rev LTM (Value for TNK: 29.7%)

WMB (48.2%)

Williams Companies

EOG (45.2%)

EOG Resources

KMI (34.9%)

Kinder Morgan

COP (33.3%)

ConocoPhillips

CNQ (33.2%)

Canadian Natural Resources

Higher FCF/Rev LTM (Value for TNK: 9.5%)

CNQ (18.2%)

Canadian Natural Resources

KMI (17.1%)

Kinder Morgan

WMB (15.0%)

Williams Companies

SLB (12.7%)

SLB

COP (11.9%)

ConocoPhillips

Higher Total Yield (Value for TNK: 15.2%)

SM (28.8%)

SM Energy

FLOC (27.9%)

Flowco

NBR (26.9%)

Nabors Industries

REPX (20.0%)

Riley Exploration Permian

APA (18.3%)

APA

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for TNK: 12.8% | 2.6x)

PGR (20.6% | 1.4x)

Progressive

MCK (13.3% | 0.3x)

McKesson

CI (14.4% | 0.3x)

Cigna

WBD (17.2% | 1.9x)

Warner Bros. Discovery

MFC (33.3% | 1.2x)

Manulife Financial

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TNK: 12.8% | 14.6x)

B (16.0% | 10.0x)

Barrick Mining

CP (22.2% | 13.7x)

Canadian Pacific Kansas City

APO (89.3% | 9.1x)

Apollo Global Management

CCL (33.2% | 9.5x)

Carnival

LVS (58.8% | 12.9x)

Las Vegas Sands

Higher Rev Chg LTM (Value for TNK: -31.7%)

NVDA (65.2%)

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 TNK: 12.8%)

NVDA (91.6%)

NVIDIA

AVGO (25.2%)

Broadcom

META (19.9%)

Meta Platforms

BRK-B (19.8%)

Berkshire Hathaway

MSFT (14.4%)

Microsoft

Higher Op Mgn LTM (Value for TNK: 18.2%)

NVDA (58.8%)

NVIDIA

MSFT (46.7%)

Microsoft

META (41.4%)

Meta Platforms

AAPL (32.4%)

Apple

GOOGL (32.0%)

Alphabet

Higher CFO/Rev LTM (Value for TNK: 29.7%)

META (57.6%)

Meta Platforms

MSFT (52.5%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (40.9%)

Alphabet

AAPL (31.1%)

Apple

Higher FCF/Rev LTM (Value for TNK: 9.5%)

NVDA (41.3%)

NVIDIA

AAPL (28.3%)

Apple

MSFT (25.3%)

Microsoft

META (22.9%)

Meta Platforms

GOOGL (18.2%)

Alphabet

Higher Total Yield (Value for TNK: 15.2%)

FNMA (31.4%)

Federal National Mortgage Association Fannie Mae

CMCSA (21.7%)

Comcast

ALL (17.0%)

Allstate

ACGL (16.5%)

Arch Capital

VZ (15.4%)

Verizon Communications

Best Bets in Energy

What You Pay

P/EBIT (Value for TNK: 8.1x)

AM (13.2x)

Antero Midstream

TPL (51.9x)

Texas Pacific Land

MGY (11.0x)

Magnolia Oil & Gas

INSW (12.6x)

International Seaways

DTM (18.9x)

DT Midstream

CTRA (10.7x)

Coterra Energy

WHD (15.4x)

Cactus

EQT (11.7x)

EQT

EOG (9.1x)

EOG Resources

CRC (7.8x)

California Resources

P/E (Value for TNK: 8.0x)

AM (24.1x)

Antero Midstream

TPL (63.8x)

Texas Pacific Land

MGY (14.8x)

Magnolia Oil & Gas

INSW (14.8x)

International Seaways

DTM (33.7x)

DT Midstream

CTRA (14.6x)

Coterra Energy

WHD (22.9x)

Cactus

EQT (20.6x)

EQT

EOG (12.0x)

EOG Resources

CRC (12.6x)

California Resources

What You Get

Rev Chg 3Y Avg (Value for TNK: 12.8%)

AM (8.4%)

Antero Midstream

TPL (5.7%)

Texas Pacific Land

MGY (-6.9%)

Magnolia Oil & Gas

INSW (16.7%)

International Seaways

DTM (9.6%)

DT Midstream

CTRA (-5.3%)

Coterra Energy

WHD (22.9%)

Cactus

EQT (-2.8%)

EQT

EOG (-7.6%)

EOG Resources

CRC (5.3%)

California Resources

Rev Chg LTM (Value for TNK: -31.7%)

AM (7.0%)

Antero Midstream

TPL (12.5%)

Texas Pacific Land

MGY (-0.3%)

Magnolia Oil & Gas

INSW (-23.6%)

International Seaways

DTM (20.4%)

DT Midstream

CTRA (25.1%)

Coterra Energy

WHD (-3.8%)

Cactus

EQT (64.8%)

EQT

EOG (-5.0%)

EOG Resources

CRC (33.9%)

California Resources

Rev Chg Q (Value for TNK: -16.5%)

AM (3.1%)

Antero Midstream

TPL (17.0%)

Texas Pacific Land

MGY (-2.7%)

Magnolia Oil & Gas

INSW (-12.8%)

International Seaways

DTM (26.6%)

DT Midstream

CTRA (33.7%)

Coterra Energy

WHD (-10.0%)

Cactus

EQT (49.8%)

EQT

EOG (-2.3%)

EOG Resources

CRC (-11.9%)

California Resources

FCF/Rev 3Y Avg (Value for TNK: 27.8%)

AM (55.3%)

Antero Midstream

TPL (47.9%)

Texas Pacific Land

MGY (33.1%)

Magnolia Oil & Gas

INSW (29.6%)

International Seaways

DTM (25.8%)

DT Midstream

CTRA (24.8%)

Coterra Energy

WHD (23.5%)

Cactus

EQT (23.5%)

EQT

EOG (22.1%)

EOG Resources

CRC (22.0%)

California Resources

[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	Is Teekay Tankers Stock Built to Withstand More Downside?	10/17/2025
2	TNK Dip Buy Analysis	07/10/2025
3	Time To Buy Teekay Tankers Stock?	05/16/2025
4	Teekay Tankers (TNK) Valuation Ratios Comparison	05/15/2025
5	Teekay Tankers Total Shareholder Return (TSR): -11.0% in 2024 and 63.5% 3-yr compounded annual returns (above peer average)	03/07/2025
6	Teekay Tankers (TNK) Operating Cash Flow Comparison	02/17/2025
7	Teekay Tankers (TNK) Net Income Comparison	02/16/2025
8	Teekay Tankers (TNK) Operating Income Comparison	02/15/2025
9	Teekay Tankers (TNK) Revenue Comparison	02/14/2025
10	ARTICLES
11	Small Cap Stocks Trading At 52-Week High	11/01/2025

	Title
0	DASHBOARDS
1	Is Teekay Tankers Stock Built to Withstand More Downside?
2	TNK Dip Buy Analysis
3	Time To Buy Teekay Tankers Stock?
4	Teekay Tankers (TNK) Valuation Ratios Comparison
5	Teekay Tankers Total Shareholder Return (TSR): -11.0% in 2024 and 63.5% 3-yr compounded annual returns (above peer average)
6	Teekay Tankers (TNK) Operating Cash Flow Comparison
7	Teekay Tankers (TNK) Net Income Comparison
8	Teekay Tankers (TNK) Operating Income Comparison
9	Teekay Tankers (TNK) Revenue Comparison
10	ARTICLES
11	Small Cap Stocks Trading At 52-Week High

Trade Ideas

Select ideas related to TNK.

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	50.3%	50.3%	-2.1%
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	38.7%	38.7%	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	31.4%	31.4%	0.0%
COP_10102025_Dip_Buyer_FCFYield	10102025	COP	ConocoPhillips	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	28.3%	28.3%	-2.3%
HAL_10102025_Dip_Buyer_FCFYield	10102025	HAL	Halliburton	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	55.6%	55.6%	-0.7%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
IBRX	ImmunityBio	8.1	41.9%	331.3%
SABR	Sabre	0.5	24.7%	-14.0%
HYMC	Hycroft Mining	1.7	21.1%	71.1%
TCMD	Tactile Systems Technology	0.7	17.8%	14.0%
WEN	Wendy's	1.6	16.9%	-1.8%
GPN	Global Payments	19.5	16.5%	5.0%
MSGS	Madison Square Garden Sports	8.2	16.3%	32.1%
MCW	Mister Car Wash	2.3	16.1%	25.5%
LBTYK	Liberty Global	4.3	14.7%	14.8%
GKOS	Glaukos	6.9	13.5%	7.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ACLS	Axcelis Technologies	2.6	-16.7%	2.1%
VECO	Veeco Instruments	1.8	-14.6%	2.6%
DCBO	Docebo	0.5	-13.8%	-27.0%
COCO	Vita Coco	2.8	-11.4%	-5.6%
DINO	HF Sinclair	9.6	-10.9%	11.9%
CPS	Cooper-Standard	0.7	-10.7%	18.7%
NEO	NeoGenomics	1.3	-10.3%	-12.8%
MCY	Mercury General	4.8	-9.2%	-7.1%
HALO	Halozyme Therapeutics	8.6	-9.0%	8.8%
PLPC	Preformed Line Products	1.2	-7.8%	21.9%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
FSLY	Fastly	2.8	107.2%	85.0%
MASI	Masimo	9.5	31.0%	35.0%
NKTR	Nektar Therapeutics	1.4	30.7%	73.1%
IBRX	ImmunityBio	8.1	30.2%	331.3%
CGNX	Cognex	9.5	30.2%	57.6%
MNTN	MNTN	0.8	28.4%	-12.6%
SOLS	Solstice Advanced Materials	12.8	26.8%	66.6%
TPH	Tri Pointe Homes	4.0	26.8%	47.3%
GNRC	Generac	13.3	25.3%	67.4%
IPGP	IPG Photonics	5.8	24.9%	93.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
UPB	Upstream Bio	0.4	-70.2%	-69.5%
U	Unity Software	7.9	-36.2%	-58.0%
ANGI	Angi	0.4	-32.0%	-37.1%
RPD	Rapid7	0.5	-31.3%	-53.0%
ALAB	Astera Labs	21.7	-29.1%	-22.1%
GETY	Getty Images	0.3	-28.2%	-38.4%
OCUL	Ocular Therapeutix	1.3	-23.8%	-43.3%
FTRE	Fortrea	0.9	-23.6%	-39.5%
NSP	Insperity	1.0	-23.6%	-33.6%
NRGV	Energy Vault	0.5	-23.4%	-33.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CRVS	Corvus Pharmaceuticals	1.5	124.7%	134.9%
FSLY	Fastly	2.8	108.5%	85.0%
NKTR	Nektar Therapeutics	1.4	94.2%	73.1%
EVMN	Evommune	0.9	85.1%	81.7%
LITE	Lumentum	41.8	83.3%	61.2%
PLSE	Pulse Biosciences	1.7	78.7%	85.4%
IPGP	IPG Photonics	5.8	69.1%	93.1%
VAL	Valaris	6.4	68.5%	80.6%
RAPT	RAPT Therapeutics	1.6	64.5%	70.5%
ICHR	Ichor	1.6	60.6%	159.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UPB	Upstream Bio	0.4	-73.3%	-69.5%
U	Unity Software	7.9	-54.7%	-58.0%
FIGR	Figure Technology Solutions	3.7	-52.0%	-13.1%
FUBO	FuboTV	0.5	-50.6%	-47.6%
HIMS	Hims & Hers Health	3.6	-49.5%	-51.2%
KD	Kyndryl	3.0	-48.0%	-50.6%
FWDI	Forward Industries	0.4	-47.1%	-31.2%
NRGV	Energy Vault	0.5	-46.3%	-33.4%
NSP	Insperity	1.0	-44.8%	-33.6%
STUB	Stubhub	2.8	-44.3%	-34.1%

Peer Comparisons

Peers to compare with:

Financials

	TNK	STNG	INSW	DHT	NAT	ASC	Median
Name	Teekay T.	Scorpio .	Internat.	DHT	Nordic A.	Ardmore .
Mkt Price	72.54	70.74	65.37	16.68	4.73	14.61	41.03
Mkt Cap	2.5	3.3	3.2	2.7	1.0	0.6	2.6
Rev LTM	952	890	770	486	295	309	628
Op Inc LTM	173	264	228	137	17	49	155
FCF LTM	90	335	71	152	-108	-43	81
FCF 3Y Avg	393	715	314	171	32	78	243
CFO LTM	283	440	328	269	27	78	276
CFO 3Y Avg	487	778	550	281	104	145	384

Growth & Margins

	TNK	STNG	INSW	DHT	NAT	ASC	Median
Name	Teekay T.	Scorpio .	Internat.	DHT	Nordic A.	Ardmore .
Rev Chg LTM	-31.7%	-35.4%	-23.6%	-16.8%	-19.8%	-26.8%	-25.2%
Rev Chg 3Y Avg	12.8%	-6.8%	16.7%	13.7%	92.1%	-3.6%	13.2%
Rev Chg Q	-16.5%	-9.9%	-12.8%	-24.5%	-12.2%	-15.5%	-14.1%
QoQ Delta Rev Chg LTM	-4.6%	-2.9%	-3.6%	-6.7%	-2.1%	-4.6%	-4.1%
Op Mgn LTM	18.2%	29.7%	29.6%	28.1%	5.9%	15.8%	23.1%
Op Mgn 3Y Avg	28.9%	45.7%	45.7%	32.8%	19.6%	29.5%	31.2%
QoQ Delta Op Mgn LTM	-1.0%	-1.2%	-1.7%	-0.1%	-3.0%	-2.3%	-1.4%
CFO/Rev LTM	29.7%	49.4%	42.6%	55.5%	9.3%	25.3%	36.1%
CFO/Rev 3Y Avg	36.6%	60.4%	54.7%	51.3%	24.7%	36.4%	44.0%
FCF/Rev LTM	9.5%	37.7%	9.2%	31.3%	-36.8%	-14.0%	9.3%
FCF/Rev 3Y Avg	27.8%	54.4%	29.6%	31.1%	2.1%	16.9%	28.7%

Valuation

	TNK	STNG	INSW	DHT	NAT	ASC	Median
Name	Teekay T.	Scorpio .	Internat.	DHT	Nordic A.	Ardmore .
Mkt Cap	2.5	3.3	3.2	2.7	1.0	0.6	2.6
P/S	2.6	3.7	4.2	5.5	3.4	1.9	3.6
P/EBIT	8.1	9.7	12.6	12.3	29.0	13.4	12.5
P/E	8.0	11.6	14.8	13.4	524.9	16.7	14.1
P/CFO	8.9	7.5	9.8	10.0	36.5	7.6	9.4
Total Yield	15.2%	11.1%	11.7%	12.1%	0.2%	8.6%	11.4%
Dividend Yield	2.7%	2.5%	5.0%	4.7%	0.0%	2.6%	2.7%
FCF Yield 3Y Avg	25.0%	27.1%	15.3%	10.4%	3.9%	13.3%	14.3%
D/E	0.0	0.3	0.2	0.1	0.4	0.2	0.2
Net D/E	-0.3	0.1	0.1	0.1	0.4	0.1	0.1

Returns

	TNK	STNG	INSW	DHT	NAT	ASC	Median
Name	Teekay T.	Scorpio .	Internat.	DHT	Nordic A.	Ardmore .
1M Rtn	20.6%	19.7%	16.0%	25.8%	15.6%	22.4%	20.2%
3M Rtn	17.2%	15.8%	23.7%	25.3%	30.0%	13.2%	20.4%
6M Rtn	63.3%	54.0%	60.0%	54.1%	74.9%	35.0%	57.1%
12M Rtn	85.2%	67.5%	81.9%	58.7%	99.8%	43.4%	74.7%
3Y Rtn	120.1%	23.3%	105.8%	92.5%	82.8%	-3.8%	87.7%
1M Excs Rtn	21.5%	20.6%	16.8%	26.6%	16.5%	23.2%	21.0%
3M Excs Rtn	13.9%	12.2%	21.0%	19.8%	29.5%	12.8%	16.9%
6M Excs Rtn	55.2%	45.5%	51.6%	47.0%	68.2%	28.9%	49.3%
12M Excs Rtn	74.8%	53.6%	70.9%	46.3%	88.7%	31.7%	62.3%
3Y Excs Rtn	62.3%	-35.1%	44.0%	42.1%	33.8%	-61.1%	37.9%

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	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/29/2025	3/14/2025	3/15/2024	3/31/2023	4/6/2022	4/1/2021	4/15/2020
Key Financials
Total Revenue	952	1,229	1,474	1,178	542	886	944
EBITDA	401	505	658	372	-103	263	251
Operating Income	173	348	538	265	-102	212	129
Net Income	313	404	520	235	-242	87	41
EPS	9.05	11.73	15.22	6.92	-7.16	2.59	1.23
Growth Rates
Total Revenue Growth	-31.7%	-16.6%	25.1%	117.2%	-38.8%	-6.1%	21.6%
EBITDA Growth	-27.1%	-23.2%	76.6%	460.9%	-139.2%	5.0%	87.1%
Operating Income Growth	-58.4%	-35.4%	103.1%	360.4%	-147.9%	64.1%	1472.8%
Net Income Growth	-28.8%	-22.4%	120.8%	197.1%	-377.6%	111.1%	178.7%
Margins
EBITDA Margin	42.2%	41.1%	44.6%	31.6%	-19.0%	29.7%	26.6%
Operating Income Margin	18.2%	28.3%	36.5%	22.5%	-18.8%	24.0%	13.7%
Net Income Margin	32.9%	32.8%	35.3%	20.0%	-44.7%	9.9%	4.4%
Cash & Debt
Total Cash	797	534	391	181	51	97	89
Total Debt	35	62	225	576	654	617	1,044
Net Debt / (Cash)	-762	-472	-167	396	603	520	955
Cash Flows
Net Cash from Operations	283	472	631	200	-107	348	118
Free Cash from Operations	90	397	621	184	-129	332	106
Returns to Shareholders
Dividends	69	103	60	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	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	12/31/2022
Filing Date	10/29/2025	8/1/2025	5/9/2025	3/14/2025	11/1/2024	8/2/2024	5/10/2024	3/15/2024	11/2/2023	8/4/2023	5/12/2023	3/31/2023
Key Financials Quarterly
Total Revenue	229	233	232	258	274	328	368	423	286	371	395	482
Ebitda	111	84	100	106	86	138	174	151	110	190	207	190
Operating Income	44	47	36	46	61	107	133	114	82	160	183	172
Net Income	92	63	76	82	62	111	149	118	81	151	169	153
EPS	2.66	1.81	2.20	2.38	1.78	3.23	4.35	3.27	2.38	4.43	4.97	4.30
Key Financials TTM
Total Revenue TTM	952	997	1,093	1,229	1,394	1,405	1,447	1,474	1,533	1,527	1,399	1,178
Ebitda TTM	401	376	430	505	550	574	625	658	696	689	561	372
Operating Income TTM	173	191	251	348	415	435	488	538	596	582	455	265
Net Income TTM	313	282	331	404	439	459	499	520	555	541	419	235
Growth Rates Quarterly
Total Revenue Growth	-16.5%	-29.1%	-37.1%	-38.9%	-4.0%	-11.4%	-6.7%	-12.4%	2.3%	52.9%	126.8%	200.8%
EBITDA Growth	29.2%	-39.3%	-42.8%	-29.7%	-21.5%	-27.1%	-15.8%	-20.1%	7.1%	206.6%	1019.3%	3385.6%
Operating Income Growth	-29.2%	-56.3%	-72.8%	-59.2%	-24.7%	-33.0%	-27.3%	-33.7%	21.4%	378.6%	2589.4%	1106.6%
Net Income Growth	49.6%	-43.7%	-48.9%	-30.4%	-24.4%	-26.5%	-12.1%	-22.8%	19.6%	429.8%	1314.8%	483.8%
Margins Quarterly
EBITDA Margin	48.7%	36.0%	43.0%	41.2%	31.4%	42.1%	47.3%	35.8%	38.4%	51.2%	52.4%	39.3%
Operating Income Margin	19.0%	20.0%	15.6%	17.9%	22.4%	32.6%	36.1%	26.9%	28.5%	43.1%	46.4%	35.6%
Net Income Margin	40.2%	26.9%	32.8%	31.8%	22.4%	33.9%	40.4%	27.9%	28.5%	40.8%	42.9%	31.7%
Cash & Debt
Total Cash	797	731	695	534	463	427	370	391	227	179	170	181
Total Debt	35	50	54	62	54	64	66	225	231	299	451	576
Net Debt / (Cash)	-762	-681	-641	-472	-409	-363	-304	-167	4	120	282	396
Cash Flows Quarterly
FCF from Operations	75	72	58	78	109	151	134	138	124	203	167	152
Cash Flows TTM
FCF from Operations TTM	283	317	395	472	532	546	598	631	645	568	382	200
Returns to Shareholders Quarterly
Dividends	9	43	9	9	9	77	9	9	9	42	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	14.9%	29.5%	21.7%	22.1%	27.1%	43.6%	39.1%	37.6%	22.9%	42.5%	45.6%	39.7%
Return on Invested Capital (ROIC) TTM
ROIC TTM	14.8%	30.2%	37.2%	41.5%	45.5%	45.6%	35.3%	45.2%	41.0%	39.8%	28.3%	15.4%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Tankers	1,364		542	879	914
Marine Services and Other	109
Elimination	0
Single Segment		1,063
Ship-to-ship transfer segment				7	30
Total	1,474	1,063	542	886	944

Operating Income by Segment

$ Mil	2024	2021	2020
Tankers	536	139	122
Marine Services and Other	11
Elimination	0
Ship-to-ship transfer segment		3	1
Total	547	142	124

Assets by Segment

$ Mil	2024	2020
Tankers	1,508	2,114
Cash and cash equivalents	391	89
Marine Services and Other	32
Due from affiliates	10
Ship-to-ship transfer segment		26
Total	1,942	2,229

Price Behavior

Price Behavior

Market Price	$72.54
Market Cap ($ Bil)	2.5
First Trading Date	12/13/2007
Distance from 52W High	0.0%
	50 Days	200 Days
DMA Price	$59.61	$51.88
DMA Trend	up	up
Distance from DMA	21.7%	39.8%
	3M	1YR
Volatility	35.5%	40.2%
Downside Capture	-91.29	-14.35
Upside Capture	15.98	50.39
Correlation (SPY)	3.2%	24.2%

TNK Betas & Captures as of 1/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	-0.91	-0.58	-0.17	0.30	0.48	0.43
Up Beta	2.37	1.62	0.04	0.99	0.57	0.47
Down Beta	0.32	-0.14	0.65	0.74	0.80	0.62
Up Capture	-28%	-30%	-33%	49%	29%	18%
Bmk +ve Days	11	22	34	71	142	430
Stock +ve Days	14	26	34	71	131	370
Down Capture	-626%	-261%	-91%	-101%	-13%	36%
Bmk -ve Days	9	19	27	54	109	321
Stock -ve Days	6	15	27	54	119	380

[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 TNK
TNK	87.8%	40.1%	1.66	-
Sector ETF (XLE)	24.7%	25.3%	0.83	28.8%
Equity (SPY)	13.6%	19.4%	0.53	24.1%
Gold (GLD)	73.5%	25.5%	2.13	14.8%
Commodities (DBC)	7.9%	17.0%	0.28	27.8%
Real Estate (VNQ)	7.1%	16.7%	0.24	20.8%
Bitcoin (BTCUSD)	-31.1%	44.9%	-0.69	7.3%

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 TNK
TNK	46.8%	46.3%	0.99	-
Sector ETF (XLE)	24.1%	26.4%	0.82	38.8%
Equity (SPY)	13.5%	17.0%	0.63	18.6%
Gold (GLD)	21.7%	17.1%	1.04	10.5%
Commodities (DBC)	10.8%	19.0%	0.45	29.5%
Real Estate (VNQ)	4.9%	18.8%	0.17	10.5%
Bitcoin (BTCUSD)	8.4%	57.2%	0.37	5.6%

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 TNK
TNK	12.0%	54.0%	0.43	-
Sector ETF (XLE)	11.6%	29.6%	0.43	34.5%
Equity (SPY)	15.9%	17.9%	0.76	26.2%
Gold (GLD)	15.0%	15.6%	0.80	3.0%
Commodities (DBC)	8.6%	17.6%	0.40	27.7%
Real Estate (VNQ)	6.9%	20.7%	0.30	17.7%
Bitcoin (BTCUSD)	68.0%	66.7%	1.07	4.6%

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

Short Interest

Short Interest: As Of Date	1302026
Short Interest: Shares Quantity	0.6 Mil
Short Interest: % Change Since 1152026	-5.5%
Average Daily Volume	0.4 Mil
Days-to-Cover Short Interest	1.6 days
Basic Shares Quantity	34.7 Mil
Short % of Basic Shares	1.7%

Returns Analyses

	Title
0	Is Teekay Tankers Stock Built to Withstand More Downside?

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
09/30/2025	10/29/2025	6-K
06/30/2025	08/01/2025	6-K
03/31/2025	05/09/2025	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	11/02/2023	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	05/19/2022	6-K
12/31/2021	04/06/2022	20-F

Insider Activity

Expand for Morenull

TNK Trade Sentinel

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

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

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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Teekay Tankers (TNK)

Market Price (2/19/2026): $72.03 | Market Cap: $2.5 BilSector: Energy | Industry: Oil & Gas Storage & Transportation

Teekay Tankers (TNK)

Market Price (2/19/2026): $72.03Market Cap: $2.5 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 Tankers (TNK)

Cyclical Nature of the Tanker Industry and Volatility of Tanker Rates/Oil Demand

Geopolitical Volatility

Aging Fleet, Fleet Renewal Costs, and Regulatory Environment

Interactive Breakdown

Better Bets vs. Teekay Tankers (TNK)

INDUSTRY: Oil & Gas Storage & Transportation

Higher Rev Chg 3Y Avg | Lower P/S (Values for TNK: 12.8% | 2.6x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TNK: 12.8% | 14.6x)

Higher Rev Chg LTM (Value for TNK: -31.7%)

Higher Rev Chg 3Y Avg (Value for TNK: 12.8%)

Higher Op Mgn LTM (Value for TNK: 18.2%)

Higher CFO/Rev LTM (Value for TNK: 29.7%)

Higher FCF/Rev LTM (Value for TNK: 9.5%)

SECTOR: Energy

Higher Rev Chg 3Y Avg | Lower P/S (Values for TNK: 12.8% | 2.6x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TNK: 12.8% | 14.6x)

Higher Rev Chg LTM (Value for TNK: -31.7%)

Higher Rev Chg 3Y Avg (Value for TNK: 12.8%)

Higher Op Mgn LTM (Value for TNK: 18.2%)

Higher CFO/Rev LTM (Value for TNK: 29.7%)

Higher FCF/Rev LTM (Value for TNK: 9.5%)

Higher Total Yield (Value for TNK: 15.2%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for TNK: 12.8% | 2.6x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TNK: 12.8% | 14.6x)

Higher Rev Chg LTM (Value for TNK: -31.7%)

Higher Rev Chg 3Y Avg (Value for TNK: 12.8%)

Higher Op Mgn LTM (Value for TNK: 18.2%)

Higher CFO/Rev LTM (Value for TNK: 29.7%)

Higher FCF/Rev LTM (Value for TNK: 9.5%)

Higher Total Yield (Value for TNK: 15.2%)

Best Bets in Energy

P/EBIT (Value for TNK: 8.1x)

P/E (Value for TNK: 8.0x)

Rev Chg 3Y Avg (Value for TNK: 12.8%)

Rev Chg LTM (Value for TNK: -31.7%)

Rev Chg Q (Value for TNK: -16.5%)

FCF/Rev 3Y Avg (Value for TNK: 27.8%)

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Valuation

Market Price (2/19/2026): $72.03 | Market Cap: $2.5 Bil
Sector: Energy | Industry: Oil & Gas Storage & Transportation

Market Price (2/19/2026): $72.03
Market Cap: $2.5 Bil
Sector: Energy
Industry: Oil & Gas Storage & Transportation