International Seaways (INSW) FY2021 results: revenue $273 million, down 35.4% on the year
International Seaways, Inc. (INSW) reported revenue of $273 million for fiscal 2021, the year ended 31 December 2021, down 35.4% on the year before. Net income was -$133 million, and diluted earnings per share $-3.48. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2022.
Revenue
$273 million
-35.4% on the year
FY2014FY2021
Operating margin
-41.1%
9.5% a year earlier
FY2014FY2021
Net income
-$133 million
FY2014FY2021
Diluted EPS
-$3.48
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
-76.2
216
87.5
Capital expenditure
78.0
50.0
36.6
+55.9%
Free cash flow
-154
166
50.9
Free cash flow margin
-56.6%
39.4%
13.9%
Cash from investing
133
32.4
108
+311.8%
Cash from financing
-174
-183
-163
Depreciation and amortisation
86.7
74.3
75.7
+16.6%
Share-based compensation
10.5
5.6
4.3
+87.0%
Buybacks
16.7
30.0
n/a
-44.5%
Dividends paid
40.9
6.8
n/a
+504.7%
Diluted shares, weighted
38m
28m
29m
+35.4%
Shares outstanding at period end
50m
28m
29m
+77.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,170
972
1,022
+20.3%
Non-controlling interest
0.6
0.0
n/a
Debt
1,105
536
661
+106.2%
Operating lease liabilities
12.5
10.3
18.0
+22.1%
Other liabilities
58.9
68.4
52.2
-13.9%
Total liabilities and equity
2,347
1,587
1,754
+47.9%
Fixed assets
1,803
1,108
1,293
+62.7%
Intangible assets
0.8
0.0
n/a
Cash and equivalents
97.9
199
89.7
-50.9%
Receivables
107
43.4
83.8
+147.0%
Inventory
2.1
3.6
3.9
-41.4%
Other assets
336
232
284
+44.8%
Total assets
2,347
1,587
1,754
+47.9%
10-K for the year ended 31 December 2021, filed 2 March 2022: the filing.