Tsakos Energy Navigation Limited (TEN) Income Statement
TEN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTEN revenue and net income
Where TEN's revenue goes
2025Each bar shows an amount and its share of revenue. TEN kept 20.1% of revenue as net income.
TEN profit margins
TEN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −0.7% | −2.5% | +4.4% | −20.8% |
| Gross profit | +2.8% | −0.4% | +11.9% | −14.6% |
| Operating income | −13.6% | −2.1% | +20.0% | −7.5% |
| Net income | −8.7% | −7.6% | +46.3% | −4.2% |
| EPS (diluted) | −10.2% | −11.6% | +5.0% | −7.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TEN quarterly EPS vs estimates
Tsakos Energy Navigation beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 19, 2026 (estimate $2.72).
TEN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $798.7M | $804.1M | $889.6M | $860.4M | $546.1M | $644.1M | $597.5M | $529.9M | $529.2M | $481.8M |
| Cost of revenue | $515.8M | $528.8M | $519.6M | $573.8M | $544.7M | $483.2M | $456.5M | $464.7M | $426.6M | $366.4M |
| Gross profit | $282.8M | $275.3M | $370.0M | $286.6M | $1.5M | $161.0M | $141.0M | $65.2M | $102.6M | $115.4M |
| Research & development | — | — | — | — | $285.0M | $273.0M | $324.0M | $204.0M | $158.0M | — |
| Sales, general & admin | $42.1M | $45.4M | $33.3M | $29.9M | $29.1M | $29.0M | $1.14B | $794.0M | $648.0M | $25.6M |
| Total operating expenses | $42.1M | −$3.3M | −$21.5M | $29.9M | $121.3M | $64.3M | $27.7M | $27.0M | $26.3M | $25.6M |
| Operating income | $240.8M | $278.6M | $391.5M | $256.4M | −$119.9M | $96.7M | $113.3M | $38.2M | $76.3M | $89.8M |
| Interest income | $10.5M | $15.1M | $11.3M | $48.3M | $703,000 | $69.5M | $71.6M | $63.1M | $59.0M | $39.8M |
| Interest expense | $97.5M | $113.3M | $106.5M | $59.9M | $41.8M | $53.7M | $74.0M | $76.3M | $66.2M | $37.4M |
| Income before taxes | $164.9M | $181.6M | $305.1M | $208.5M | −$150.6M | $27.2M | $14.0M | −$101.0M | $9.2M | $56.5M |
| Income taxes | — | — | $107.3M | $60.1M | $182.0M | $459.0M | $19.0M | $63.0M | $70.0M | $40.1M |
| Net income | $160.9M | $176.2M | $300.2M | $204.2M | −$151.4M | $24.0M | $15.1M | −$99.2M | $7.6M | $55.8M |
| EBITDA | $410.8M | $434.7M | $534.7M | $371.4M | $99.1M | $218.0M | $227.5M | $185.0M | $215.3M | $197.6M |
| EPS (diluted) | $4.04 | $4.50 | $7.16 | $5.85 | −$4.14 | $3.16 | −$0.04 | −$7.55 | −$0.18 | $2.40 |
| Gross margin | 35.4% | 34.2% | 41.6% | 33.3% | 0.3% | 25.0% | 23.6% | 12.3% | 19.4% | 24.0% |
| Operating margin | 30.1% | 34.6% | 44.0% | 29.8% | −21.9% | 15.0% | 19.0% | 7.2% | 14.4% | 18.6% |
| Net margin | 20.1% | 21.9% | 33.7% | 23.7% | −27.7% | 3.7% | 2.5% | −18.7% | 1.4% | 11.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $298.4M | $253.0M | $222.1M | $186.2M | $193.3M | $197.1M | $188.3M | $200.2M | $214.1M | $201.6M | $220.2M | $186.7M |
| Cost of revenue | $158.8M | $130.6M | $131.2M | $125.5M | $130.0M | $130.1M | $129.9M | $129.0M | $135.7M | $134.2M | $129.6M | $127.3M |
| Gross profit | $139.6M | $122.3M | $90.9M | $60.8M | $63.3M | $67.0M | $58.3M | $71.2M | $78.4M | $67.4M | $90.6M | $59.4M |
| Sales, general & admin | $14.8M | $12.4M | $9.7M | $9.2M | $13.2M | $9.9M | $15.9M | $14.2M | $7.9M | $7.3M | $7.5M | $6.3M |
| Total operating expenses | $14.8M | $12.4M | $9.7M | $9.2M | $13.2M | $6.4M | $15.9M | $14.2M | −$24.6M | −$8.8M | $33.9M | $6.3M |
| Operating income | $124.9M | $109.9M | $81.2M | $51.6M | $50.0M | $60.6M | $42.4M | $57.0M | $103.0M | $76.2M | $56.8M | $53.0M |
| Interest income | $3.4M | $2.2M | $2.8M | $2.1M | $3.2M | $2.3M | $4.0M | $3.2M | $4.7M | $3.2M | $4.5M | $3.2M |
| Interest expense | $22.6M | $20.8M | $21.3M | $23.7M | $22.9M | $24.0M | $25.9M | $32.2M | $30.7M | $25.1M | $27.9M | $24.0M |
| Income before taxes | $143.5M | $91.3M | $58.9M | $38.9M | $28.3M | $38.9M | $21.6M | $28.0M | $77.6M | $54.4M | $33.2M | $32.3M |
| Income taxes | — | — | — | — | — | — | −$21.6M | −$28.0M | −$31.3M | $38.4M | −$1.1M | $21.9M |
| Net income | $139.3M | $88.8M | $58.0M | $38.3M | $26.8M | $37.7M | $19.3M | $26.5M | $76.4M | $54.0M | $31.8M | $31.2M |
| EBITDA | $171.2M | $112.1M | $124.6M | $62.6M | $51.2M | $62.9M | $87.9M | $87.7M | $147.8M | $117.1M | $98.6M | $89.3M |
| EPS (diluted) | $3.14 | $2.72 | $1.70 | $0.75 | $0.67 | $0.92 | $0.42 | $0.67 | $2.36 | $1.05 | $1.74 | $0.83 |
| Gross margin | 46.8% | 48.4% | 40.9% | 32.6% | 32.7% | 34.0% | 31.0% | 35.6% | 36.6% | 33.4% | 41.2% | 31.8% |
| Operating margin | 41.8% | 43.4% | 36.6% | 27.7% | 25.9% | 30.8% | 22.5% | 28.5% | 48.1% | 37.8% | 25.8% | 28.4% |
| Net margin | 46.7% | 35.1% | 26.1% | 20.6% | 13.9% | 19.1% | 10.2% | 13.3% | 35.7% | 26.8% | 14.4% | 16.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TEN's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TEN financial results
In fiscal year 2025 (ended December 31, 2025), Tsakos Energy Navigation reported revenue of $798.7 million, down 0.7% from the year before. It had net income of $160.9 million (down 8.7%), a net profit margin of 20.1%. Diluted earnings per share came to $4.04. Over five years revenue grew at an average rate of 4.4% a year.
See the TEN stock overview for the latest quote and news, or the TEN chart for price history and technical indicators.
TEN income statement FAQ
What is Tsakos Energy Navigation's annual revenue?
Tsakos Energy Navigation reported total revenue of $798.7 million for fiscal year 2025, which ended on December 31, 2025. That was down 0.7% from $804.1 million the previous year.
Is Tsakos Energy Navigation profitable?
Yes. Tsakos Energy Navigation reported net income of $160.9 million in fiscal 2025, a net profit margin of 20.1%; its operating margin was 30.1%.
What is Tsakos Energy Navigation's gross margin?
Tsakos Energy Navigation's gross margin was 35.4% in fiscal 2025: for every $100 of revenue, Tsakos Energy Navigation kept $35 after the direct cost of its products and services.
How fast is Tsakos Energy Navigation growing?
Revenue grew 4.4% a year on average over the last five fiscal years, from $644.1 million to $798.7 million.
What are Tsakos Energy Navigation's earnings per share?
Tsakos Energy Navigation earned $4.04 per diluted share in fiscal 2025, compared with $4.50 a year earlier.
When will Tsakos Energy Navigation report its next earnings?
Tsakos Energy Navigation is expected to report results for the quarter ending September 30, 2026 on November 19, 2026 before the market opens.
When does Tsakos Energy Navigation's fiscal year end?
Tsakos Energy Navigation's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.