Tsakos Energy Navigation Limited (TEN) Key Metrics
TEN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.54B
- Enterprise value
- $2.86B
- P/E (TTM)
- 5.2 10-yr median 5.6
- Forward P/E
- 6.8
- PEG ratio
- 2.53
- Price / sales
- 1.6 10-yr median 0.6
- Price / book
- 0.7 10-yr median 0.3
- EV / EBITDA
- 4.9 10-yr median 8.5
- Dividend yield
- 3.91% $2.00 a year
- Beta
- −0.09
TEN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTEN valuation Price multiples at each fiscal year-end price.
TEN returns How much profit the business earns on the capital it uses.
TEN per-share figures Results divided by the shares outstanding at year-end.
TEN financial health Debt, liquidity and how easily interest is covered.
TEN efficiency & capital use Working capital cycle and where the cash goes.
TEN valuation history
TEN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TEN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TEN cash returned to shareholders
TEN price vs earnings per share
TEN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $666.8M | $511.6M | $655.6M | $477.2M | $142.3M | $404.4M | $1.10B | $231.7M | $331.2M | $398.2M |
| Enterprise value | $2.26B | $1.93B | $1.88B | $2.00B | $1.48B | $1.80B | $2.46B | $1.61B | $1.87B | $1.96B |
| P/E ratio | 4.1 | 2.9 | 2.2 | 2.3 | — | 16.8 | 72.6 | — | 43.5 | 7.1 |
| Price / sales | 0.8 | 0.6 | 0.7 | 0.6 | 0.3 | 0.6 | 1.8 | 0.4 | 0.6 | 0.8 |
| Price / book | 0.4 | 0.3 | 0.4 | 0.3 | 0.1 | 0.3 | 0.8 | 0.2 | 0.2 | 0.3 |
| Price / free cash flow | — | — | 6.8 | — | — | 23.5 | 13.4 | 4.4 | — | — |
| Price / operating cash flow | 2.3 | 1.7 | 1.7 | 1.7 | 2.7 | 2.0 | 6.0 | 3.3 | 2.0 | 2.3 |
| EV / sales | 2.8 | 2.4 | 2.1 | 2.3 | 2.7 | 2.8 | 4.1 | 3.0 | 3.5 | 4.1 |
| EV / EBITDA | 5.5 | 4.4 | 3.5 | 5.4 | 14.9 | 8.3 | 10.8 | 8.7 | 8.7 | 9.9 |
| EV / free cash flow | — | — | 19.4 | — | — | 104.8 | 29.9 | 30.7 | — | — |
| Earnings yield | 24.1% | 34.4% | 45.8% | 42.8% | −106.4% | 5.9% | 1.4% | −42.8% | 2.3% | 14.0% |
| Free cash flow yield | −33.9% | −66.9% | 14.8% | −9.4% | −5.7% | 4.2% | 7.5% | 22.6% | −37.9% | −101.9% |
| Dividend yield | 9.0% | 14.0% | 9.4% | 9.2% | 25.5% | 11.6% | 4.5% | 19.2% | 12.0% | 10.1% |
| Shareholder yield (dividends + buybacks) | 9.0% | 14.0% | 26.0% | 9.7% | 25.6% | 26.3% | 9.0% | 19.2% | 18.3% | 15.3% |
| Share price at fiscal year-end | $22.42 | $17.34 | $22.22 | $16.93 | $7.24 | $8.03 | $21.80 | $13.30 | $19.55 | $23.45 |
| Per share | ||||||||||
| Revenue per share | $26.86 | $27.25 | $30.15 | $30.52 | $27.79 | $12.79 | $11.86 | $30.41 | $31.23 | $28.37 |
| Earnings per share | $5.41 | $5.97 | $10.17 | $7.25 | −$7.70 | $0.48 | $0.30 | −$5.69 | $0.45 | $3.29 |
| Operating cash flow per share | $9.95 | $10.43 | $13.40 | $10.24 | $2.70 | $4.08 | $3.66 | $4.00 | $9.90 | $10.03 |
| Free cash flow per share | −$7.60 | −$11.60 | $3.28 | −$1.59 | −$0.41 | $0.34 | $1.63 | $3.00 | −$7.42 | −$23.89 |
| Cash per share | $11.22 | $11.80 | $12.77 | $10.80 | $6.47 | $3.41 | $3.93 | $12.66 | $12.30 | $11.06 |
| Book value per share | $61.18 | $58.56 | $54.86 | $54.03 | $63.14 | $26.88 | $28.82 | $85.79 | $88.19 | $83.47 |
| Tangible book value per share | $61.18 | $58.56 | $54.86 | $54.03 | −$16.40 | −$6.92 | −$14.81 | −$51.27 | $84.00 | $83.47 |
| Dividends per share | $2.02 | $2.43 | $2.10 | $1.55 | $1.85 | $0.93 | $0.98 | $2.55 | $2.35 | $2.38 |
| Capex per share | $17.54 | $22.03 | $10.11 | $11.83 | $3.12 | $3.74 | $2.03 | $0.99 | $17.31 | $33.92 |
| Debt per share | $64.86 | $59.79 | $54.29 | $64.91 | $74.39 | $31.13 | $30.89 | $91.58 | $103.40 | $103.28 |
| Shares outstanding | 29.7M | 29.5M | 29.5M | 28.2M | 19.7M | 50.4M | 50.4M | 17.4M | 16.9M | 17.0M |
| Change in shares outstanding | +0.8% | 0.0% | +4.7% | +43.4% | −61.0% | 0.0% | +189.0% | +2.8% | −0.2% | −71.8% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 9.1% | 10.5% | 19.1% | 14.8% | −11.7% | 1.7% | 1.0% | −6.6% | 0.5% | 4.0% |
| Return on invested capital (ROIC) | 5.8% | 7.4% | 8.6% | 6.5% | −3.6% | 1.7% | 2.0% | 1.0% | 1.3% | 1.6% |
| Return on assets (ROA) | 4.2% | 5.0% | 9.0% | 6.6% | −5.0% | 0.8% | 0.5% | −3.0% | 0.2% | 1.8% |
| Return on tangible assets | 4.1% | 4.8% | 8.9% | 6.2% | −11.4% | 1.7% | 1.6% | −12.1% | 0.2% | 1.7% |
| Free cash flow margin | −28.3% | −42.6% | 10.9% | −5.2% | −1.5% | 2.7% | 13.7% | 9.9% | −23.8% | −84.2% |
| Income quality (OCF / net income) | 1.84 | 1.75 | 1.32 | 1.41 | — | 8.56 | 12.19 | — | 22.02 | 3.05 |
| Financial health | ||||||||||
| Total debt | $1.93B | $1.76B | $1.60B | $1.83B | $1.46B | $1.57B | $1.56B | $1.60B | $1.75B | $1.75B |
| Cash & short-term investments | $333.8M | $348.3M | $376.7M | $304.4M | $127.2M | $171.8M | $197.8M | $220.5M | $208.4M | $187.8M |
| Net debt | $1.60B | $1.42B | $1.23B | $1.53B | $1.33B | $1.40B | $1.36B | $1.38B | $1.54B | $1.57B |
| Debt / equity | 1.06 | 1.02 | 0.99 | 1.20 | 1.18 | 1.16 | 1.07 | 1.07 | 1.17 | 1.24 |
| Debt / assets | 0.49 | 0.48 | 0.48 | 0.55 | 0.50 | 0.50 | 0.49 | 0.50 | 0.52 | 0.54 |
| Net debt / EBITDA | 3.88 | 3.26 | 2.29 | 4.11 | 13.46 | 6.40 | 5.97 | 7.43 | 7.17 | 7.93 |
| Current ratio | 0.95 | 1.10 | 1.57 | 1.39 | 0.72 | 0.84 | 1.12 | 1.25 | 0.90 | 0.91 |
| Quick ratio | 0.92 | 1.06 | 1.50 | 1.32 | 0.65 | 0.78 | 1.08 | 1.17 | 0.85 | 0.86 |
| Interest coverage | 2.5 | 2.5 | 3.7 | 4.3 | -2.9 | 1.8 | 1.5 | 0.5 | 1.2 | 2.4 |
| Working capital | −$24.2M | $41.8M | $184.7M | $143.4M | −$94.3M | −$62.2M | $42.3M | $62.6M | −$34.5M | −$35.0M |
| Invested capital | $3.41B | $3.14B | $2.84B | $3.05B | $2.58B | $2.75B | $2.81B | $2.87B | $3.04B | $2.98B |
| Tangible asset value | $1.86B | $1.77B | $1.65B | $1.52B | −$271.2M | −$320.2M | −$724.7M | −$881.2M | $1.44B | $1.42B |
| Net current asset value | −$1.66B | −$1.49B | −$1.20B | −$1.27B | −$1.37B | −$1.41B | −$1.29B | −$1.38B | −$1.56B | −$1.50B |
| Graham number | $86.30 | $88.71 | $112.06 | $93.85 | — | $16.98 | $13.96 | — | $29.86 | $78.55 |
| Graham net-net per share | −$57.49 | −$52.75 | −$43.53 | −$49.77 | −$72.31 | −$30.05 | −$28.44 | −$81.81 | −$95.49 | −$95.94 |
| Capital allocation | ||||||||||
| Dividends paid | $60.1M | $71.8M | $61.9M | $43.7M | $36.3M | $46.7M | $49.3M | $44.4M | $39.9M | $40.4M |
| Share buybacks (net) | $0 | $0 | $108.3M | $2.5M | $168,000 | $59.8M | $50.0M | $0 | $20.7M | $20.7M |
| Dividend payout ratio | 37.4% | 40.8% | 20.6% | 21.4% | — | 194.6% | 326.0% | — | 523.8% | 72.3% |
| Dividends + buybacks / free cash flow | — | — | 175.6% | — | — | 620.3% | 120.9% | 84.9% | — | — |
| Capex / revenue | 65.3% | 80.8% | 33.5% | 38.7% | 11.2% | 29.2% | 17.1% | 3.3% | 55.4% | 119.6% |
| Capex / operating cash flow | 176.4% | 211.3% | 75.5% | 115.5% | 115.3% | 91.6% | 55.4% | 24.9% | 175.0% | 338.2% |
| Capex / depreciation | 3.07 | 4.65 | 2.42 | 2.74 | 0.48 | 1.48 | 0.79 | 0.12 | 2.11 | 5.38 |
| Stock-based compensation / revenue | 0.9% | 1.0% | 0.0% | 0.0% | 4.4% | 2.8% | 4.2% | 2.6% | 2.6% | 0.1% |
| R&D / revenue | — | — | — | — | 52.2% | 42.4% | 54.2% | 38.5% | 29.9% | — |
| SG&A / revenue | 5.3% | 5.6% | 3.7% | 3.5% | 5.3% | 4.5% | 190.5% | 149.8% | 122.5% | 5.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 20.0 | 19.4 | 28.5 | 30.8 | 34.8 | 30.2 | 35.7 | 33.7 | 29.9 | 35.8 |
| Days of inventory on hand | 11.2 | 14.3 | 17.1 | 15.6 | 15.0 | 13.2 | 13.4 | 14.4 | 15.0 | 16.5 |
| Days payables outstanding | 34.9 | 33.2 | 31.0 | 39.1 | 43.6 | 34.7 | 29.6 | 33.2 | 42.5 | 42.7 |
| Cash conversion cycle (days) | -3.7 | 0.6 | 14.6 | 7.3 | 6.1 | 8.6 | 19.4 | 14.9 | 2.3 | 9.6 |
| Receivables turnover | 18.25 | 18.78 | 12.79 | 11.86 | 10.50 | 12.09 | 10.24 | 10.83 | 12.23 | 10.18 |
| Payables turnover | 10.47 | 11.01 | 11.76 | 9.32 | 8.37 | 10.51 | 12.31 | 11.00 | 8.58 | 8.54 |
| Inventory turnover | 32.71 | 25.51 | 21.32 | 23.35 | 24.35 | 27.73 | 27.32 | 25.34 | 24.34 | 22.09 |
| Asset turnover | 0.21 | 0.23 | 0.27 | 0.28 | 0.18 | 0.21 | 0.19 | 0.16 | 0.16 | 0.16 |
| Average receivables | $43.8M | $42.8M | $69.5M | $72.5M | $52.0M | $53.3M | $58.4M | $48.9M | $43.3M | $47.3M |
| Average payables | $49.3M | $48.0M | $44.2M | $61.5M | $65.1M | $46.0M | $37.1M | $42.2M | $49.7M | $42.9M |
| Average inventory | $15.8M | $20.7M | $24.4M | $24.6M | $22.4M | $17.4M | $16.7M | $18.3M | $17.5M | $16.6M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 54.0% | 54.7% | 69.7% | 74.5% | 2.1% | 0.0% |
Computed from TEN's annual financial statements (latest annual report filed December 31, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TEN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Tsakos Energy Navigation traded at 4.1 times earnings, against a 10-year median of 5.6. Based on the latest twelve months, the trailing P/E is 5.2 and the forward P/E is 6.8. Tsakos Energy Navigation earned a return on equity of 9.1% and a return on invested capital of 5.8% in fiscal 2025. It ended the year with $1.9 billion of debt and $333.8 million in cash and short-term investments, net debt of $1.6 billion. It returned $60.1 million to shareholders: $60.1 million in dividends and $0 in share buybacks. The share count rose 75.1% from 17.0M to 29.7M over 9 years.
See the TEN income statement, the TEN chart for price history, or the TEN stock overview for the latest quote and news.
TEN key metrics FAQ
What is Tsakos Energy Navigation's P/E ratio?
Tsakos Energy Navigation's trailing P/E ratio is 5.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 6.8. At the end of fiscal 2025 it was 4.1, compared with a 10-year median of 5.6.
What is Tsakos Energy Navigation's EV/EBITDA?
Tsakos Energy Navigation's enterprise value was 5.5 times EBITDA at the end of fiscal 2025 (enterprise value $2.3 billion, EBITDA $410.8 million); the current EV/EBITDA is 4.9.
What is Tsakos Energy Navigation's return on equity?
Tsakos Energy Navigation's return on equity (ROE) was 9.1% in fiscal 2025: net income of $160.9 million on average shareholders' equity of $1.8 billion.
What is Tsakos Energy Navigation's ROIC?
Tsakos Energy Navigation's return on invested capital was 5.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Tsakos Energy Navigation have?
Tsakos Energy Navigation had total debt of $1.9 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.06 and $1.6 billion of net debt (3.88 times EBITDA).
What is Tsakos Energy Navigation's dividend yield?
Tsakos Energy Navigation's forward dividend yield is 3.91%. Tsakos Energy Navigation paid $60.1 million in dividends in fiscal 2025 ($2.02 per share), a payout ratio of 37.4%.
What is Tsakos Energy Navigation's free cash flow yield?
Tsakos Energy Navigation generated -$226.0 million of free cash flow in fiscal 2025, a free cash flow yield of −33.9% on its market value at year-end ($666.8 million).
What is Tsakos Energy Navigation's current ratio?
Tsakos Energy Navigation's current ratio was 0.95 at the end of fiscal 2025: current assets were 0.95 times current liabilities.