TEN TSAKOS ENERGY NAVIGATION LTD

Overview and Growth

In fiscal 2025, TSAKOS ENERGY NAVIGATION LTD recorded $798.69M of revenue, net income of $160.90M, and an operating cash inflow of $297.62M. At $798.69M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line contracted 0.7% from $804.06M in fiscal 2024; this top-line contraction left the company with a smaller revenue base. On a per-share basis, diluted EPS was $4.45, which connects the reported earnings outcome with the company’s diluted share count. Diluted EPS decreased by 11.5% from $5.03 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. A diluted share base of 29.74M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. At period end, total assets were $3.95B, framing the scale of the company’s operating and financing commitments. The revenue-to-assets relationship was 0.2x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Operations produced $252.32M of income after the reported operating expense base, before the remaining non-operating and tax effects. Operating margin measured 31.6%, showing the portion of revenue preserved after the full set of operating costs. After all reported below-operating-line items, the company recorded net income of $160.90M for the fiscal year. The final earnings result represented 20.1% of revenue, connecting the absolute net income figure with the company’s top-line scale. Reported EBITDA totaled $422.37M, adding a pre-interest, tax, depreciation, and amortization perspective to the profitability profile. Return on period-end equity was 8.6%, relating annual net income to the equity capital on the balance sheet. The net-income-to-assets relationship measured 4.1%, showing earnings relative to the full balance sheet. The company moved from fiscal 2024 net income of $176.23M to $160.90M, with the current outcome ending below that comparison.

Liquidity and Capital Structure

At period end, the $3.95B asset base was financed through $2.09B of liabilities and $1.86B of equity. At period end, current assets of $434.63M compared with current liabilities of $458.04M, defining the company’s short-term resource position. At 0.95x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. Cash and equivalents totaled $293.31M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 64.0%, excluding receivables and other current assets. The company carried $1.78B of total debt at period end, which frames its leverage and debt-service burden. The debt-to-equity relationship was 0.96x, showing how much debt the company carried for each unit of book equity. Debt represented 45.1% of total assets, placing borrowing in the context of the company’s full resource base. Book equity represented 47.1% of total assets, quantifying the balance-sheet share supported by shareholder capital. The liabilities-to-assets relationship was 52.9%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 7.4%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $3.71B in fiscal 2024, the current asset base moved 6.7% and finished higher. Against $1.77B of equity in fiscal 2024, the current book-equity balance moved 5.4% and ended higher. Compared with $343.37M in fiscal 2024, the current cash balance moved 14.6% and finished lower.

Cash Flow and Earnings Quality

Cash flow from operations was $297.62M, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 1.85x, showing the relationship between accrual earnings and operating cash. Compared with $307.68M in fiscal 2024, current operating cash flow of $297.62M was below the prior result.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.