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Teekay Tankers Ltd.

Teekay Tankers Ltd.

NYSE•TNK
CEO: Mr. Kenneth Hvid
Sector: Energy
Industry: Oil & Gas Midstream
Listing Date: 2007-12-13
Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services. It also engages management of vessels, procurement, and equipment rental businesses. Teekay Tankers Ltd. was incorporated in 2007 and is headquartered in Hamilton, Bermuda.
Contact Information
Belvedere Building, 4th Floor 69 Pitts Bay Road, Hamilton, HM 08, Bermuda
441-298-2530
www.teekay.com/business/tankers
Market Cap
$2.16B
P/E (TTM)
6.7
19
Dividend Yield
3.2%
52W High
$63.19
52W Low
$33.35
52W Range
98%
4.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$229.02M-5.86%
4-Quarter Trend

EPS

$2.66+56.47%
4-Quarter Trend

FCF

-$53.32M-220.72%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Strong Cash Position Maintained Cash reserves increased to $511.9M USD by year-end 2024. Liquidity improved despite lower operating earnings compared to 2023.
Significant Vessel Sale Gains Asset disposal gains reached $38.1M USD in 2024. This represents a 268% increase over prior year results from tanker sales.
Acquired Australian Operations Completed acquisition of Teekay's Australian operations for $92.2M USD net consideration on December 31, 2024, adding marine services.
Net Income Declines Net income was $403.7M USD in 2024, down from $519.9M USD in 2023. Lower overall average realized spot TCE rates drove this decrease.

Risk Factors

High Spot Market Exposure Spot market exposure, nearly 94% of revenues, means declining spot rates directly reduce operating results and profitability significantly.
Geopolitical Trade Disruptions Geopolitical conflicts, like Red Sea attacks, disrupt global oil trading patterns, increasing operational costs and market volatility.
Regulatory Compliance Costs EU ETS and FuelEU Maritime regulations impose increasing compliance costs and require additional capital expenditures for emissions reduction.
Vessel Value Decline Risk Vessel value declines risk breaching loan-to-value covenants tied to the revolving credit facility requirements, potentially forcing prepayments.

Outlook

Accelerate Fleet Renewal Program Accelerate fleet renewal for 60% aged fleet; success depends on newbuilding/second-hand availability and securing necessary financing.
Tactical Chartering Strategy Tactically manage mix of spot, fixed-rate, and FSL contracts to optimize results and capture upside across market cycles.
Liquidity Sufficiency Confirmed Anticipated liquidity combined with operating cash flow expected sufficient for requirements for at least a one-year period following reporting date.
Maintain Operational Excellence Focus on high quality vessels and safety standards to secure competitive advantage amid increasing environmental regulation and scrutiny.

Peer Comparison

Revenue (TTM)

Calumet, Inc.CLMT
$4.05B
-4.0%
Baytex Energy Corp.BTE
$2.69B
-3.7%
Talos Energy Inc.TALO
$1.87B
-0.0%

Gross Margin (Latest Quarter)

FLEX LNG Ltd.FLNG
53.3%
-2.4 pp
TORM plcTRMD
50.2%
-10.3 pp
Baytex Energy Corp.BTE
36.6%
+7.0 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
INSW$2.67B12.211.5%28.8%
BTE$2.43B9.39.0%28.1%
TRMD$2.26B6.715.8%33.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-13.3%
Growth Under Pressure
4Q Net Income CAGR
-0.4%
Stable Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years

  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 14, 2025|
    Revenue: $1.23B-9.9%
    |
    EPS: $11.70-23.1%
    Beat

  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 15, 2024|
    Revenue: $1.36B+28.3%
    |
    EPS: $15.04+123.1%
    Meet

  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Mar 31, 2023|
    Revenue: $1.06B+96.0%
    |
    EPS: $6.74+194.0%
    Beat

  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Apr 6, 2022|
    Revenue: $542.37M-38.8%
    |
    EPS: $-7.17-376.8%
    Miss

  • Form 20-F - FY 2020

    Period End: Dec 31, 2020|Filed: Apr 1, 2021|
    Revenue: $886.43M-3.8%
    |
    EPS: $2.59+311.1%
    Miss