TSAKOS ENERGY NAVIGATION LTD
TEN, TEN-PE, TEN-PF · Deep Sea Foreign Transportation of Freight · EDGAR filings ↗
Reference price $39.95 — last insider purchase, 2026-04-29 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
C64Mid-pack cyclical tanker owner with average returns, healthy operating cash margins, but weak liquidity and externally-managed conflicts.
Strengths
- Solid operating/OCF margins (op 31.6%, OCF 37%, ~56th–60th pct) and modern diversified 64-vessel fleet with long-term shuttle-tanker backlog
- Cash position strong (81st pct) with debt/equity mid-pack (0.82, 52nd pct)
Risks
- Weak liquidity (current 0.95 / quick 0.92, ~14th pct) and only 2.7x interest coverage in a deeply cyclical charter market
- External management by Tsakos-family entities (conflicts, ~$193m termination payment) and family control limit governance
Notable findings
- Weak liquidityCurrent ratio 0.95 (<1)
- Strong balance sheetStrong balance sheet — $293M cash & investments
- Insider buyingInsider buying — 2 open-market buy(s) by 1 insider(s) (~$998,341, last 6mo) Form 4 ↗
Key metrics
Operating margin
31.6%
Net margin
20.1%
Return on equity
8.8%
Return on assets
4.1%
ROIC
6.0%
Revenue growth (QoQ)
-0.7%
Net-income growth
-8.7%
Debt / equity
0.8×
Net debt / EBITDA
2.8×
Interest coverage
2.7×
Current ratio
0.9×
EBITDA
$422M
Tangible book value
$1.8B
Cash & investments
$293M
Stock comp / revenue
0.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-29 | TSAKOS NIKOLAOS | Buy | 12K | $39.95 |
| 2026-04-28 | TSAKOS NIKOLAOS | Buy | 12K | $39.92 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (12)
- Equinor
- BP
- ExxonMobil
- Flopec
- TotalEnergies
- Petrobras
- Chevron
- Shell
- Petrogal
- Petronas
- Unipec
- Vitol
Suppliers (2)
- Tsakos Energy Management
- Tsakos Shipping and Trading S.A. (TST)
Named in the 10-K; linked when we track them.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-06 | 2025-12-31 | 0001193125-26-144027 ↗ |
| 20-F | 2025-04-11 | 2024-12-31 | 0001193125-25-079101 ↗ |
| 20-F | 2024-04-19 | 2023-12-31 | 0001193125-24-102899 ↗ |
| 20-F | 2023-04-06 | 2022-12-31 | 0001193125-23-094132 ↗ |
| 20-F | 2022-04-28 | 2021-12-31 | 0001193125-22-127650 ↗ |
| 20-F | 2021-04-16 | 2020-12-31 | 0001193125-21-118474 ↗ |
| 20-F | 2020-04-14 | 2019-12-31 | 0001193125-20-107119 ↗ |
| 20-F | 2019-04-12 | 2018-12-31 | 0001193125-19-105224 ↗ |
| 20-F | 2018-04-27 | 2017-12-31 | 0001193125-18-138928 ↗ |
| 20-F | 2017-04-28 | 2016-12-31 | 0001193125-17-148332 ↗ |
| 20-F | 2016-04-06 | 2015-12-31 | 0001193125-16-531072 ↗ |
| 20-F | 2015-04-08 | 2014-12-31 | 0001193125-15-122947 ↗ |