International Seaways, Inc.
INSW · Water Transportation · 49.5M shares · +14%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $5M (gross $14M, SBC $9M)
Grade
B78Crude/product tanker operator posting top-decile margins and a fortress balance sheet in a strong rate environment.
Strengths
- Operating margin 41% (97th pct), net margin 94th pct, OCF margin 93rd pct and ROA 89th pct
- Excellent liquidity (current ratio 3.7, 100th pct) and low leverage (D/E 0.27)
Risks
- Highly cyclical, spot-market-dependent (82% of TCE revenue) tanker rates
- Geopolitical/sanctions-driven trade volatility and aging-fleet capex
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $167M cash & investments
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
41.0%
Net margin
36.7%
Return on equity
15.3%
Return on assets
11.6%
ROIC
10.7%
Revenue growth (QoQ)
21.5%
Net-income growth
-25.8%
Debt / equity
0.3×
Net debt / EBITDA
0.7×
Current ratio
3.7×
EBITDA
$509M
Tangible book value
$2.0B
Cash & investments
$167M
Stock comp / revenue
1.0%
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-12 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-05-11 | Material agreementExhibits | filing ↗ |
| 2026-05-07 | ResultsReg FDExhibits | filing ↗ |
| 2026-04-09 | Material agreement3.03Exhibits | filing ↗ |
| 2026-03-31 | Material agreementExhibits | filing ↗ |
| 2026-02-26 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-29 | Reg FDExhibits | filing ↗ |
| 2026-01-27 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-12 | 2026-06-08 | 0001104659-26-073576 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001104659-26-058763 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001104659-26-056695 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001104659-26-056721 ↗ |
| 8-K | 2026-04-09 | 2026-04-09 | 0001104659-26-041552 ↗ |
| 8-K | 2026-03-31 | 2026-03-27 | 0001104659-26-037866 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001104659-26-020113 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001104659-26-020057 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0001104659-26-007733 ↗ |
| 8-K | 2026-01-27 | 2026-01-27 | 0001104659-26-006830 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001104659-25-107386 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001104659-25-107428 ↗ |