International Seaways (INSW) FY2020 results: revenue $422 million, up 15.1% on the year
International Seaways, Inc. (INSW) reported revenue of $422 million for fiscal 2020, the year ended 31 December 2020, up 15.1% on the year before. Net income was -$6 million, and diluted earnings per share $-0.20. The figures are the company's own, from the 10-K it filed with the SEC on 12 March 2021.
Revenue
$422 million
+15.1% on the year
FY2014FY2020
Operating margin
9.5%
15.1% a year earlier
FY2014FY2020
Net income
-$6 million
FY2014FY2020
Diluted EPS
-$0.20
FY2014FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
422
366
270
+15.1%
Operating income
39.9
55.2
-54.5
-27.7%
Operating margin
9.5%
15.1%
-20.2%
Interest expense
36.7
66.3
60.2
-44.6%
Pre-tax income
-5.5
-0.8
-89.0
Income tax
0.0
0.0
-0.1
0.0%
Net income
-5.5
-0.8
-88.9
Net margin
-1.3%
-0.2%
-32.9%
Diluted EPS
-$0.20
-$0.03
-$3.05
$ million except per share. 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.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
216
87.5
-12.5
+147.1%
Capital expenditure
50.0
36.6
149
+36.7%
Free cash flow
166
50.9
-161
+226.4%
Free cash flow margin
39.4%
13.9%
-59.7%
Cash from investing
32.4
108
124
-70.0%
Cash from financing
-183
-163
-64.2
Depreciation and amortisation
74.3
75.7
72.4
-1.7%
Share-based compensation
5.6
4.3
3.2
+31.6%
Buybacks
30.0
n/a
n/a
Dividends paid
6.8
n/a
n/a
Diluted shares, weighted
28m
29m
29m
-2.9%
Shares outstanding at period end
28m
29m
29m
-4.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
972
1,022
1,010
-4.9%
Non-controlling interest
0.0
n/a
n/a
Debt
536
661
811
-19.0%
Operating lease liabilities
10.3
18.0
n/a
-42.9%
Other liabilities
68.4
52.2
28.1
+31.2%
Total liabilities and equity
1,587
1,754
1,849
-9.5%
Fixed assets
1,108
1,293
1,331
-14.3%
Intangible assets
0.0
n/a
n/a
Cash and equivalents
199
89.7
58.3
+122.4%
Receivables
43.4
83.8
94.6
-48.3%
Inventory
3.6
3.9
3.1
-7.6%
Other assets
232
284
362
-18.2%
Total assets
1,587
1,754
1,849
-9.5%
10-K for the year ended 31 December 2020, filed 12 March 2021: the filing.