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US-based owner-operator of crude oil and petroleum-product tankers operating globally.
US-based owner-operator of crude oil and petroleum-product tankers operating globally.
Earns freight by renting ship capacity, either voyage by voyage at spot rates or on time charters of set length, with a large spot share. Daily rates therefore swing with oil trade flows and the supply of ships. It became an independent company in 2016, when it was spun out of Overseas Shipholding Group.
Moat: none (scale). Commodity tanker shipping; earnings driven by cyclical spot freight rates.
Headquarters: New York, New York, USA · Founded: 2016 · Employees: 2,763
Size International Seaways (INSW) is a United States Energy company (Marine Shipping) with a market value of $5.01B, the 1186th largest of 3,117 United States companies the cockpit tracks. Shares closed at $98.02 on 6 Nov 2026.
Performance Over six months the shares gained 7.0%, against +6.8% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 16 in its peer set.
Growth Revenue grew 57.7% over the last twelve months (peer median +29.1%); the operating margin is 55.6% (peer median 38.8%).
Valuation It trades at 3.5× forward earnings against a peer median of 5.4× (3rd cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -15% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is -30 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 15.8 points above its cost of capital (6.3% WACC).
Short interest Short interest is 5.3% of the free float (15 Oct 2026).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.26B | $843M | $952M | $1.07B | $866M |
| Revenue growth | — | -11% | -11% | +24% | — |
| Gross profit | $750M | $357M | $478M | $628M | $471M |
| EBITDA | $864M | $470M | $575M | $709M | $535M |
| Net income | $779M | $309M | $417M | $556M | $388M |
| Free cash flow | $269M | $38.1M | $267M | $482M | $171M |
| Capital expenditure | $364M | $342M | $280M | $207M | $117M |
| Total debt | $653M | $576M | $712M | $745M | $1.07B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| International Seaways INSW | $5.01B | +7% | +58% | 56% | 3.5× | -14.8% |
| Frontline FRO | $10.1B | +15% | +49% | 49% | 4.2× | -12.5% |
| Cmb.tech CMBT | $4.83B | +12% | +92% | 30% | 7.2× | n/a |
| Scorpio Tankers STNG | $4.13B | -4% | +39% | 49% | 5.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | INSW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.5% | -17.4% | 5th lowest of 16 |
| 6-month return | +7.0% | +6.8% | 8th highest of 16 |
| Distance from 52-week high | -22.4% | -21.6% | 7th lowest of 16 |
| Revenue growth (TTM) | +57.7% | +29.1% | 4th highest of 16 |
| Operating margin | 55.6% | 38.8% | 3rd highest of 16 |
| Forward P/E | 3.5× | 5.4× | 3rd cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -14.8% | -6.7% | 2nd least demanding of 12 |
| Growth delivered (Del g) | +14.9% | +10.3% | 5th highest of 12 |
| Hurdle (Req g minus delivered) | -29.7 pp | -20.4 pp | 3rd least demanding of 12 |
| ROIC minus cost of capital | +15.8 pp | +6.3 pp | 3rd highest of 16 |
| EV / EBITDA | 6.1× | 7.0× | 6th cheapest of 16 |
| Net debt / EBITDA | 0.3× | 0.8× | 4th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| International Seaways INSW | United States | $5.01B | +7% | +58% | 56% | 3.5× | -14.8% | +14.9% |
| Hafnia HAFNI.OL | Norway | $4.98B | +7% | +3% | 20% | 5.7× | -5.9% | +23.6% |
| Cmb.tech CMBT | United States | $4.83B | +12% | +92% | 30% | 7.2× | n/a | n/a |
| Scorpio Tankers STNG | United States | $4.13B | -4% | +39% | 49% | 5.6× | n/a | n/a |
| TORM TRMD-A.CO | Denmark | $3.87B | +8% | +41% | 41% | 3.5× | -17.3% | +12.7% |
| Tidewater TDW | United States | $3.49B | -14% | -1% | 18% | 13.3× | 1.2% | +27.8% |
| DHT DHT | United States | $3.33B | +9% | +39% | 57% | 3.8× | -11.7% | -6.4% |
| BW LPG BWLPG.OL | Norway | $3.31B | +7% | -9% | 15% | 4.5× | -7.1% | +37.2% |
| Okeanis Eco Tankers ECO | United States | $3.19B | +48% | +105% | 62% | 3.9× | -13.7% | +6.7% |
| Teekay Tankers TNK | United States | $2.97B | +3% | +19% | 39% | 3.5× | n/a | n/a |
| Frontline FRO | United States | $10.1B | +15% | +49% | 49% | 4.2× | -12.5% | +10.3% |
| Dorian LPG LPG | United States | $1.99B | +16% | +81% | 52% | 5.4× | -6.7% | +8.8% |
| SFL SFL | United States | $1.65B | -9% | -4% | 28% | 11.2× | 5.2% | +9.2% |
| Nordic American Tankers NAT | United States | $1.41B | +13% | +29% | 29% | 7.7× | -3.4% | -3.8% |
| FLEX LNG FLNG | United States | $1.38B | -20% | +1% | 49% | 11.5× | -0.5% | +16.1% |
| Tsakos Energy Navigation TEN | United States | $1.32B | +2% | +23% | 38% | 3.5× | n/a | n/a |