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International Seaways, Inc. (INSW)

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International Seaways, Inc. (INSW) reported revenue of $467 million for Q2 FY2026, the quarter ended 30 June 2026, up 138.8% on the same quarter a year earlier. Net income was $295 million, up 378.4% on the year, and diluted earnings per share $5.91. The figures are the company's own, from the 10-Q it filed with the SEC on 10 August 2026.

Revenue$467 millionup 138.8%
Net income$295 millionup 378.4%
Diluted EPS$5.91
QuarterQ2 FY2026ended 30 June 2026

International Seaways (INSW) in brief

International Seaways (INSW) reported revenue of $843 million for fiscal 2025, the year ended 31 December 2025, down 11.4% on the year before.
Read moreNet income was $309 million and diluted earnings per share $6.23. Revenue was $952 million in fiscal 2024, $1.1 billion in fiscal 2023, $865 million in fiscal 2022 and $273 million in fiscal 2021. Net income in the same years was $417 million, $556 million, $388 million and a loss of $133 million. Over the twelve months to 30 June 2026, International Seaways reported revenue of $1.3 billion and net income of $779 million. Revenue grew 14.9% a year, compounded, over the five years to fiscal 2025. International Seaways declared $2.93 a share in dividends over the last four quarters and had 50 million shares outstanding at the latest filed count. At 30 June 2026 it carried $646 million of debt and $159 million of cash. At the close of 9 October 2026 the market cap of International Seaways was $5.9 billion, 7.7 times its earnings over the last twelve months.

Ratios

From the filings

ROE34.4%
ROCE27.7%
Operating margin64.2%
Net margin62.0%
FCF margin21.5%
Interest cover19.67
Debt to equity0.28
Cash conversion0.81
Share count, 1 year0.3%
Sales CAGR, 3 years-0.8%
Profit CAGR, 3 years-7.3%
EPS, TTM$15.64

At the close of 9 October 2026

Price$119.81
Market cap$5.9 billion
Stock P/E7.66
Price to book2.62
EV / EBITDA6.62
Dividend yield2.4%
Market cap / sales4.72
52-week high$121.81
52-week low$43.29
Price, 1 year168.0%
Price CAGR, 3 years39.3%
Price CAGR, 5 years47.4%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as International Seaways, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
INSWgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on INSW

Filings19 in twelve months: 10 current reports (8-K), about 5 regulation FD disclosure; 4 results of operations; 3 material agreement; 1 officer or director change; 1 shareholder vote
Planned insider sales29 Form 144 notices in twelve months, $11.0 million; latest 17 August 2026
Options tapeput/call 0.56 by open interest at the 9 October 2026 close; the straddle prices a 4.9% move to 16 October 2026
13F holders4 of the followed funds hold it; largest FMR LLC; 4 Schedule 13D or 13G filings in twelve months
Insider trading37 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest2.9 million shares short, 3.56 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue242251274257225195183196196268325467
Operating income11414715415510145.059.269.478.7138289301
Operating margin47%59%56%60%45%23%32%35%40%52%89%64%
Interest expense16.814.112.912.412.511.911.59.89.611.99.010.6
Pre-tax income98.013614414591.734.7n/a61.670.5n/an/a295
Tax rate0%3%0%0%-0%-3%n/a0%n/an/an/a-0%
Net income97.913214414591.735.849.661.670.5128286295
Net margin41%53%53%56%41%18%27%32%36%48%88%63%
Diluted EPS$1.99$2.68$2.92$2.91$1.84$0.72$1.00$1.25$1.42$2.56$5.75$5.91
Operating cash flow14812515616812993.669.985.878.3146141268
Capital expenditure4.212.926.417613.762.283.017.987.715270.752.2
Free cash flow144113130-8.511531.4-13.067.9-9.3-5.970.4215
Buybacks0.0n/an/an/a25.0n/an/an/an/an/an/an/a
Dividends paid69.461.286.986.973.859.034.529.638.042.5106225
Shares outstanding49m49m49m50m49m49m49m49m49m49m50m50m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue5174983982902703664222738651,0729528431,257
Operating income4.61777.2-108-54.555.239.9-112443615455345807
Operating margin0.9%35.5%1.8%-37.2%-20.2%15.1%9.5%-41.1%51.2%57.4%47.8%41.0%64.2%
Interest expense56.344.140.441.260.266.336.736.857.765.849.742.741.0
Pre-tax income-13.8179-17.7-106-89.0-0.8-5.5-133388560416309n/a
Income tax0.70.10.40.0-0.10.00.01.60.13.9-1.1-0.4n/a
Effective tax raten/a0.1%n/an/an/an/an/an/a0.0%0.7%-0.3%-0.1%n/a
Net income-119173-18.2-106-88.9-0.8-5.5-133388556417309779
Net margin-23.0%34.8%-4.6%-36.6%-32.9%-0.2%-1.3%-49.0%44.9%51.9%43.8%36.7%62.0%
Diluted EPS-$4.08$5.94-$0.62-$3.64-$3.05-$0.03-$0.20-$3.48$7.77$11.25$8.38$6.23$15.64
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
International Crude Tankers Segment52445144052.1%
International Product Carriers Segment54850040447.9%
International Crude Tankers SegmentInternational Product Carriers Segment
1,072FY2023952FY2024843FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Pool Revenue Leases90674964276.1%
Time and Bareboat Charter Leases96.513715818.7%
Voyage charter revenues69.465.343.95.2%
Pool Revenue LeasesTime and Bareboat Charter LeasesVoyage charter revenues
1,072FY2023952FY2024843FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow-25322312917.4-12.587.5216-76.2288688547380633
Capital expenditure21.51.02.017414936.650.078.0116205279340362
Free cash flow-275222127-156-16150.9166-15417248326839.6271
Free cash flow margin-53.1%44.6%31.9%-53.8%-59.7%13.9%39.4%-56.6%19.9%45.1%28.2%4.7%21.5%
Cash from investingn/an/a2.5-13712410832.413342.8-124-155-141-293
Cash from financingn/an/a-35798.0-64.2-163-183-174-186-681-361-279-329
Depreciation and amortisation84.981.779.978.972.475.774.386.7110129149164163
Share-based compensation0.62.82.83.83.24.35.610.56.78.59.08.77.9
Buybacksn/an/an/an/an/an/a30.016.720.013.925.0n/an/a
Dividends paidn/an/an/an/an/an/a6.840.969.8308284145412
Dividend per sharen/a$6.86$6.93$6.93n/an/an/an/a$1.42$6.29$5.77$2.93n/a
Diluted shares, weighted29m29m29m29m29m29m28m38m50m49m50m50m50m
Shares outstanding at period endn/a29m29m29m29m29m28m50m49m49m49m49m50m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity1,3911,3841,1801,0861,0101,0229721,1701,4881,7171,8562,0202,265
Non-controlling interestn/an/an/an/an/an/a0.00.6n/an/an/an/an/a
Debtn/a5894405537596615361,1051,023723688567646
Operating lease liabilitiesn/an/an/an/an/a18.010.312.57.711.68.76.05.8
Other liabilitiesn/a57.243.425.979.652.268.458.996.470.883.275.3102
Total liabilities and equityn/a2,0301,6631,6641,8491,7541,5872,3472,6152,5222,6362,6693,019
Owned
Fixed assetsn/a1,2401,1001,1051,3311,2931,1081,8031,6801,9142,0502,0782,024
Goodwilln/an/an/an/an/an/an/an/an/an/an/a0.07.4
Intangible assetsn/an/an/an/an/an/a0.00.8n/an/an/an/an/a
Investmentsn/an/an/an/an/an/an/an/a80.060.0n/a50.0250
Cash and equivalents17830992.060.058.389.719997.9244127158117159
Receivablesn/a75.066.958.294.683.843.4107290247186178307
Inventoryn/a3.41.33.33.13.93.62.10.51.31.90.624.9
Other assetsn/a402402438362284232336321172241245246
Total assetsn/a2,0301,6631,6641,8491,7541,5872,3472,6152,5222,6362,6693,019
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded5.4%14.9%-0.8%57.4%
Profit growth, compounded6.0%n/a-7.3%226.4%
Return on equity, average6.4%17.0%23.4%15.3%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was International Seaways' revenue in fiscal 2025?

International Seaways (INSW) reported revenue of $843 million for fiscal 2025, the year ended 31 December 2025, down 11.4% on the year before.

How much did International Seaways earn in fiscal 2025?

Net income was $309 million for fiscal 2025, and diluted earnings per share $6.23.

What is International Seaways' P/E ratio?

At the close of 9 October 2026, International Seaways traded at 7.7 times its earnings over the twelve months to 30 June 2026.

What is International Seaways' market cap?

The market cap of International Seaways was $5.9 billion at the close of 9 October 2026.

Does International Seaways pay a dividend?

Yes. International Seaways declared $2.93 a share in dividends over the four quarters to 30 June 2026.

Peers: Transportation

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Royal Caribbean Cruises Ltd. RCL$75.5 billion17.4443.0%27.3%8.7%2.231.8%
Carnival Corp. Ltd. CCL$35.4 billion11.5122.1%16.0%5.2%1.737.4%
Kirby Corp. KEX$7.2 billion20.9510.3%14.0%6.6%0.30n/a
Norwegian Cruise Line Holdings Ltd. NCLH$7.2 billion9.7429.6%15.1%6.2%5.40n/a
Matson, Inc. MATX$6.8 billion15.0916.7%15.2%-0.2%0.120.6%
International Seaways, Inc. INSW$5.9 billion7.6634.4%64.2%57.4%0.282.4%
Gatx Corp. GATX$5.8 billion16.3013.2%29.1%22.8%4.431.5%
Landstar System Inc. LSTR$5.7 billion43.8215.7%3.5%4.1%0.002.1%
Schneider National, Inc. SNDR$5.5 billion49.203.6%3.0%6.2%0.131.2%
GXO Logistics, Inc. GXO$5.3 billion41.214.4%2.4%7.6%0.82n/a
Rxo, Inc. RXO$4.8 billionn/a-7.0%-1.2%9.5%0.30n/a
Tidewater Inc. TDW$4.3 billion17.3017.7%18.4%-1.0%0.46n/a
All 44 in Transportation
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Union Pacific Corp. UNP$165.3 billion22.5435.5%40.0%4.2%1.402.0%
Booking Holdings Inc. BKNG$120.5 billion17.79n/a32.9%12.9%n/a0.2%
CSX Corp. CSX$87.5 billion27.3222.9%34.2%2.5%1.221.1%
United Parcel Service Inc. UPS$80.5 billion17.5730.3%7.3%-0.4%1.586.9%
Royal Caribbean Cruises Ltd. RCL$75.5 billion17.4443.0%27.3%8.7%2.231.8%
Norfolk Southern Corp. NSC$71.4 billion27.1116.2%32.2%3.0%0.981.7%
FedEx Corp. FDX$69.0 billion15.7614.0%5.8%7.7%0.742.0%
Delta Air Lines, Inc. DAL$54.1 billion16.4014.6%7.4%14.1%0.540.8%
Old Dominion Freight Line, Inc. ODFL$37.7 billion35.0424.0%25.8%-0.6%0.000.6%
Carnival Corp. Ltd. CCL$35.4 billion11.5122.1%16.0%5.2%1.737.4%
United Airlines Holdings, Inc. UAL$34.9 billion10.0520.9%7.7%8.5%1.46n/a
Expedia Group, Inc. EXPE$31.4 billion17.10168.4%16.0%12.0%4.520.6%
Expeditors International of Washington Inc. EXPD$25.1 billion28.1243.4%9.8%6.8%0.000.8%
HF Sinclair Corp. DINO$21.6 billion11.5718.6%8.3%16.3%0.271.6%
J.B. Hunt Transport Services, Inc. JBHT$21.5 billion32.4818.4%7.5%5.3%0.310.2%
Xpo, Inc. XPO$21.5 billion54.1320.6%8.8%7.1%1.55n/a
Southwest Airlines Co. LUV$20.4 billion25.5511.8%3.5%9.5%0.541.7%
C. H. Robinson Worldwide, Inc. CHRW$16.7 billion27.1638.9%4.9%-0.1%1.041.7%
ZTO Express (Cayman) Inc. ZTO *$15.9 billion12.0713.7%21.3%10.9%n/a3.3%
Knight-Swift Transportation Holdings Inc. KNX$10.5 billion247.900.6%2.7%4.1%0.271.1%
Saia Inc. SAIA$9.0 billion32.5010.2%11.0%4.8%0.04n/a
American Airlines Group Inc. AAL$8.4 billionn/an/a1.7%7.5%n/a0.0%
Kirby Corp. KEX$7.2 billion20.9510.3%14.0%6.6%0.30n/a
Norwegian Cruise Line Holdings Ltd. NCLH$7.2 billion9.7429.6%15.1%6.2%5.40n/a
Matson, Inc. MATX$6.8 billion15.0916.7%15.2%-0.2%0.120.6%
International Seaways, Inc. INSW$5.9 billion7.6634.4%64.2%57.4%0.282.4%
Gatx Corp. GATX$5.8 billion16.3013.2%29.1%22.8%4.431.5%
Landstar System Inc. LSTR$5.7 billion43.8215.7%3.5%4.1%0.002.1%
Schneider National, Inc. SNDR$5.5 billion49.203.6%3.0%6.2%0.131.2%
GXO Logistics, Inc. GXO$5.3 billion41.214.4%2.4%7.6%0.82n/a
Rxo, Inc. RXO$4.8 billionn/a-7.0%-1.2%9.5%0.30n/a
Alaska AIR Group, Inc. ALK$4.4 billionn/a-4.8%-1.5%9.8%1.651.0%
Brinks Co. BCO$4.3 billion23.9458.3%10.5%8.1%12.541.0%
Tidewater Inc. TDW$4.3 billion17.3017.7%18.4%-1.0%0.46n/a
Skywest Inc. SKYW$3.7 billion9.5914.8%14.0%9.1%0.830.1%
Arcbest Corp. ARCB$2.9 billion187.591.3%0.7%3.7%0.100.4%
Dorian LPG Ltd. LPG$2.5 billion7.6226.0%57.6%81.1%0.414.3%
Allegiant Travel Co. ALGT$2.1 billion54.161.5%4.9%12.2%1.560.0%
Werner Enterprises Inc. WERN$2.0 billionn/a-3.4%-0.9%9.6%0.581.7%
Jetblue Airways Corp. JBLU$1.5 billionn/a-55.8%-5.9%4.0%5.34n/a
Bristow Group Inc. VTOL$1.2 billion11.729.6%10.0%8.2%0.68n/a
Marten Transport Ltd. MRTN$1.0 billion79.691.7%1.8%-6.9%0.001.9%
Heartland Express Inc. HTLD$860 millionn/a-2.9%-2.3%-21.0%0.180.7%
Verra Mobility Corp. VRRM$448 million11.3319.8%13.6%11.1%4.63n/a
6 companies share its SEC industry code (Water Transportation); the rest are the names nearest in size in its wider industry, Transportation, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202610 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 202526 February 2026EDGAR
10-Q30 September 20256 November 2025EDGAR
10-Q30 June 20256 August 2025EDGAR
10-Q31 March 20258 May 2025EDGAR
10-K31 December 202427 February 2025EDGAR
10-Q30 September 20247 November 2024EDGAR
10-Q30 June 20247 August 2024EDGAR
10-Q31 March 20248 May 2024EDGAR

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