TORM plc (TRMD) Income Statement
TRMD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTRMD revenue and net income
Where TRMD's revenue goes
2025Each bar shows an amount and its share of revenue. TRMD kept 21.3% of revenue as net income.
TRMD profit margins
TRMD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −10.9% | −1.3% | +13.2% | +9.9% |
| Gross profit | −50.0% | −17.5% | +3.6% | +5.0% |
| Operating income | −46.0% | −16.1% | +20.7% | +9.5% |
| Net income | −51.7% | −19.3% | +27.4% | +8.9% |
| EPS (diluted) | −54.9% | −61.5% | +11.5% | +18.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TRMD quarterly EPS vs estimates
TORM beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 4, 2026 (estimate $1.60).
TRMD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.39B | $1.56B | $1.52B | $1.44B | $619.5M | $747.4M | $692.6M | $635.4M | $657.0M | $680.1M |
| Cost of revenue | $915.7M | $610.5M | $579.6M | $598.5M | $371.8M | $349.8M | $377.9M | $400.0M | $382.9M | $365.6M |
| Gross profit | $474.2M | $948.7M | $940.8M | $844.9M | $247.7M | $397.5M | $314.7M | $235.4M | $274.1M | $314.6M |
| Sales, general & admin | $113.8M | $95.6M | $84.5M | $55.0M | $51.5M | $50.8M | $47.7M | $47.8M | $45.0M | $41.4M |
| Total operating expenses | $118.6M | $289.9M | $242.2M | $243.4M | $246.3M | $258.6M | $108.9M | $230.2M | $233.8M | $237.0M |
| Operating income | $355.6M | $658.8M | $698.6M | $601.5M | $1.4M | $138.9M | $205.9M | $2.8M | $39.5M | −$107.2M |
| Interest income | $11.1M | $24.5M | $14.3M | $4.0M | $200,000 | $500,000 | $2.5M | $2.7M | $4.3M | $200,000 |
| Interest expense | $76.7M | $69.9M | $56.1M | $48.7M | $42.4M | $77.8M | $52.9M | $40.7M | $40.6M | $33.2M |
| Income before taxes | $306.3M | $609.5M | $652.0M | $556.7M | −$40.7M | $89.5M | $166.8M | −$33.2M | $3.2M | −$141.7M |
| Income taxes | $9.5M | −$2.0M | $4.0M | −$5.9M | $1.3M | $1.4M | $784,000 | $1.6M | $777,000 | $760,000 |
| Net income | $296.0M | $612.5M | $648.3M | $562.8M | −$42.1M | $88.1M | $166.0M | −$34.8M | $2.4M | −$142.5M |
| EBITDA | $605.5M | $871.8M | $857.4M | $744.4M | $132.5M | $258.6M | $316.2M | $117.0M | $163.0M | $10.1M |
| EPS (diluted) | $2.77 | $6.14 | $7.44 | $48.36 | −$0.54 | $1.61 | $0.60 | −$0.44 | $0.04 | $0.46 |
| Gross margin | 34.1% | 60.8% | 61.9% | 58.5% | 40.0% | 53.2% | 45.4% | 37.0% | 41.7% | 46.3% |
| Operating margin | 25.6% | 42.3% | 45.9% | 41.7% | 0.2% | 18.6% | 29.7% | 0.4% | 6.0% | −15.8% |
| Net margin | 21.3% | 39.3% | 42.6% | 39.0% | −6.8% | 11.8% | 24.0% | −5.5% | 0.4% | −21.0% |
| 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 | $649.2M | $395.8M | $355.0M | $343.1M | $315.2M | $329.1M | $305.4M | $372.1M | $437.7M | $444.1M | $387.8M | $358.1M |
| Cost of revenue | $277.3M | $238.1M | $220.2M | $218.7M | $157.1M | $163.7M | $142.6M | $155.4M | $157.2M | $155.4M | $159.7M | $151.6M |
| Gross profit | $371.9M | $157.7M | $134.8M | $124.4M | $158.1M | $165.4M | $162.8M | $216.7M | $280.5M | $288.7M | $228.1M | $206.5M |
| Sales, general & admin | — | $23.0M | $29.2M | $29.2M | $24.5M | $25.9M | $23.0M | $22.6M | $24.0M | $26.4M | $25.1M | $19.0M |
| Total operating expenses | $23.7M | $22.6M | $36.6M | $26.9M | $83.5M | $83.1M | $73.3M | $74.4M | $76.2M | $66.0M | $32.8M | $66.5M |
| Operating income | $348.2M | $135.1M | $98.2M | $97.4M | $74.6M | $82.3M | $89.5M | $142.3M | $204.3M | $222.7M | $195.3M | $140.0M |
| Interest income | — | $1.6M | $300,000 | $3.5M | $3.6M | $3.8M | $3.6M | $6.9M | $7.7M | $6.4M | $3.5M | $4.2M |
| Interest expense | $17.9M | $18.6M | $15.4M | $23.7M | $17.8M | $17.8M | $18.0M | $18.4M | $18.9M | $18.3M | $14.0M | $16.5M |
| Income before taxes | $332.2M | $122.1M | $88.2M | $78.9M | $60.4M | $68.3M | $74.8M | $130.8M | $193.1M | $210.8M | $184.8M | $127.7M |
| Income taxes | $783,641 | $1.6M | $805,404 | $1.2M | $1.7M | $5.4M | −$2.6M | $100,000 | −$1.1M | $1.6M | $235,000 | $3.4M |
| Net income | $331.4M | $120.5M | $87.4M | $77.7M | $58.6M | $62.9M | $77.7M | $130.5M | $194.5M | $209.2M | $184.6M | $124.3M |
| EBITDA | $407.5M | $199.5M | $160.0M | $155.8M | $130.3M | $139.4M | $142.3M | $198.6M | $258.8M | $272.2M | $237.8M | $182.4M |
| EPS (diluted) | $3.25 | $1.17 | $0.87 | $0.84 | $0.53 | $0.53 | $0.69 | $1.35 | $2.02 | $2.08 | $2.10 | $1.41 |
| Gross margin | 57.3% | 39.9% | 38.0% | 36.3% | 50.2% | 50.3% | 53.3% | 58.2% | 64.1% | 65.0% | 58.8% | 57.7% |
| Operating margin | 53.6% | 34.1% | 27.7% | 28.4% | 23.7% | 25.0% | 29.3% | 38.2% | 46.7% | 50.1% | 50.4% | 39.1% |
| Net margin | 51.0% | 30.4% | 24.6% | 22.7% | 18.6% | 19.1% | 25.4% | 35.1% | 44.4% | 47.1% | 47.6% | 34.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TRMD's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TRMD financial results
In fiscal year 2025 (ended December 31, 2025), TORM reported revenue of $1.4 billion, down 10.9% from the year before. It had net income of $296.0 million (down 51.7%), a net profit margin of 21.3%. Diluted earnings per share came to $2.77. Over five years revenue grew at an average rate of 13.2% a year.
See the TRMD stock overview for the latest quote and news, or the TRMD chart for price history and technical indicators.
TRMD income statement FAQ
What is TORM's annual revenue?
TORM reported total revenue of $1.4 billion for fiscal year 2025, which ended on December 31, 2025. That was down 10.9% from $1.6 billion the previous year.
Is TORM profitable?
Yes. TORM reported net income of $296.0 million in fiscal 2025, a net profit margin of 21.3%; its operating margin was 25.6%.
What is TORM's gross margin?
TORM's gross margin was 34.1% in fiscal 2025: for every $100 of revenue, TORM kept $34 after the direct cost of its products and services.
How fast is TORM growing?
Revenue grew 13.2% a year on average over the last five fiscal years, from $747.4 million to $1.4 billion.
What are TORM's earnings per share?
TORM earned $2.77 per diluted share in fiscal 2025, compared with $6.14 a year earlier.
When will TORM report its next earnings?
TORM is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 before the market opens.
When does TORM's fiscal year end?
TORM's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.