The company has successfully deleveraged its capital structure, achieving a conservative debt-to-equity ratio of 0.28 as of 2026Q1, which provides a substantial buffer against industry-wide cyclicality.
| Total Current Assets | 666.49M | 367.05M | 376.32M | 464.98M | 642.62M | 224.5M | 256.83M | 187.34M | 167.62M | 131.79M | 170.91M | 396.74M | 285.17M |
| Cash & Short-Term Investments | 376.85M | 166.92M | 157.51M | 186.76M | 323.74M | 97.88M | 199.39M | 89.67M | 58.31M | 60.03M | 92M | 308.86M | 178.24M |
| Cash Only | 141.85M | 116.92M | 157.51M | 126.76M | 243.74M | 97.88M | 199.39M | 89.67M | 58.31M | 60.03M | 92M | 308.86M | 178.24M |
| Short-Term Investments | 235M | 50M | 0 | 60M | 80M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 25.72M | 191.72M | 199.29M | 261.47M | 302.36M | 112.75M | 47.84M | 87.78M | 99.87M | 62.6M | 72.22M | 79.42M | 94.36M |
| Days Sales Outstanding | 50.23 | 82.98 | 76.44 | 89.04 | 127.63 | 150.99 | 41.41 | 87.5 | 134.83 | 78.76 | 66.18 | 58.25 | 66.62 |
| Inventory | 5.41M | 611K | 1.88M | 1.33M | 531K | 2.11M | 3.6M | 3.9M | 3.07M | 3.27M | 1.34M | 3.4M | 6.38M |
| Days Inventory Outstanding | 1.47 | 0.46 | 1.45 | 1.09 | 0.49 | 2.48 | 5.21 | 5.03 | 4 | 4.31 | 1.79 | 4.36 | 5.18 |
| Other Current Assets | 258.51M | 7.79M | 17.65M | 14.3M | 15.98M | 0 | 0 | 0 | 460K | 5.9M | 0 | 0 | 0 |
| Total Non-Current Assets | 2.2B | 2.3B | 2.26B | 2.06B | 1.97B | 2.12B | 1.33B | 1.57B | 1.68B | 1.53B | 1.49B | 1.63B | 1.75B |
| Property, Plant & Equipment | 1.99B | 2.09B | 2.11B | 1.95B | 1.86B | 1.88B | 1.13B | 1.33B | 1.33B | 1.1B | 1.1B | 1.24B | 1.32B |
| Fixed Asset Turnover | 0.48x | 0.40x | 0.45x | 0.55x | 0.47x | 0.15x | 0.37x | 0.28x | 0.20x | 0.26x | 0.36x | 0.40x | 0.39x |
| Goodwill | 7.37M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 36K | 0 | 801K | 1.15M | 36.41M | 180.33M | 141.92M | 153.29M | 268.32M | 378.89M | 358.68M | 344.89M | 331.44M |
| Other Non-Current Assets | 203.91M | 216.39M | 150.81M | 109.2M | 79.49M | 66.64M | 57.98M | 86.63M | 81.86M | 49.07M | 32.88M | 47.91M | 102.04M |
| Total Assets | 2.87B | 2.67B | 2.64B | 2.52B | 2.62B | 2.35B | 1.59B | 1.75B | 1.85B | 1.66B | 1.66B | 2.03B | 2.04B |
| Asset Turnover | 0.36x | 0.32x | 0.36x | 0.43x | 0.33x | 0.12x | 0.27x | 0.21x | 0.15x | 0.17x | 0.24x | 0.25x | 0.25x |
| Asset Growth % | 16.29% | 1.22% | 4.54% | -3.58% | 11.44% | 47.92% | -9.52% | -5.14% | 11.06% | 0.12% | -18.1% | -0.26% | - |
| Total Current Liabilities | 90.79M | 98.89M | 130.94M | 195.57M | 257.39M | 234.61M | 108.9M | 114.48M | 75.27M | 47.23M | 45.1M | 48.42M | 37.24M |
| Accounts Payable | 60.39M | 1.66M | 5.83M | 6.57M | 1.83M | 1.61M | 2.61M | 4.99M | 1.16M | 330K | 2.87M | 3.37M | 2.46M |
| Days Payables Outstanding | 34.05 | 1.24 | 4.49 | 5.4 | 1.69 | 1.89 | 3.77 | 6.44 | 1.52 | 0.43 | 3.84 | 4.33 | 2 |
| Short-Term Debt | 30.4M | 28.97M | 50.05M | 127.45M | 162.85M | 178.72M | 61.48M | 70.35M | 51.55M | 24.06M | 6.18M | 6.28M | 6.28M |
| Deferred Revenue (Current) | 0 | 5.98M | 7.83M | 6.24M | 2.96M | 353K | 3.06M | 272K | 450K | 918K | 6.72M | 1.23M | 3.14M |
| Other Current Liabilities | 0 | 52.53M | 2.94M | 34.34M | 941K | 6.33M | 8.31M | 5.34M | 17.59M | 15.17M | 23.66M | 35.38M | 20.97M |
| Current Ratio | 7.34x | 3.71x | 2.87x | 2.38x | 2.50x | 0.96x | 2.36x | 1.64x | 2.23x | 2.79x | 3.79x | 8.19x | 7.66x |
| Quick Ratio | 7.28x | 3.71x | 2.86x | 2.37x | 2.49x | 0.95x | 2.33x | 1.60x | 2.19x | 2.72x | 3.76x | 8.12x | 7.49x |
| Cash Conversion Cycle | 17.64 | 82.2 | 73.39 | 84.74 | 126.43 | 151.59 | 42.85 | 86.09 | 137.31 | 82.64 | 64.13 | 58.28 | 69.8 |
| Total Non-Current Liabilities | 586.28M | 549.47M | 649.41M | 609.49M | 870.19M | 941.84M | 505.6M | 616.73M | 763.48M | 531.6M | 437.91M | 597.75M | 607M |
| Long-Term Debt | 573.93M | 541.29M | 638.35M | 595.23M | 860.58M | 926.27M | 474.33M | 590.75M | 759.11M | 528.87M | 433.47M | 588.94M | 595.07M |
| Capital Lease Obligations | 273.05M | 5.95M | 8.71M | 11.63M | 7.74M | 12.52M | 10.25M | 17.95M | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 6.56M | 2.23M | 2.35M | 2.63M | 1.88M | 3.04M | 21.02M | 8.03M | 4.36M | 2.72M | 4.44M | 8.81M | 11.93M |
| Total Liabilities | 677.07M | 648.37M | 780.35M | 805.06M | 1.13B | 1.18B | 614.5M | 731.21M | 838.75M | 578.83M | 483.01M | 646.16M | 644.24M |
| Total Debt | 610.12M | 576.22M | 711.74M | 744.53M | 1.07B | 1.13B | 554.93M | 692.01M | 810.67M | 552.94M | 439.65M | 595.22M | 601.36M |
| Net Debt | 468.27M | 459.29M | 554.23M | 617.77M | 830.89M | 1.03B | 355.55M | 602.34M | 752.35M | 492.91M | 347.65M | 286.36M | 423.12M |
| Debt / Equity | 0.28x | 0.29x | 0.38x | 0.43x | 0.72x | 0.96x | 0.57x | 0.68x | 0.80x | 0.51x | 0.37x | 0.43x | 0.43x |
| Debt / EBITDA | 0.92x | 1.23x | 1.18x | 1.00x | 1.94x | - | 4.69x | 4.87x | 17.13x | 28.22x | 4.28x | 1.96x | 4.72x |
| Net Debt / EBITDA | 0.71x | 0.98x | 0.92x | 0.83x | 1.50x | - | 3.00x | 4.24x | 15.90x | 25.16x | 3.39x | 0.94x | 3.32x |
| Interest Coverage | 1.41x | 8.23x | 9.36x | 9.52x | 7.72x | -2.62x | 0.85x | 0.99x | -0.48x | -1.57x | 0.56x | 5.03x | -1.10x |
| Total Equity | 2.19B | 2.02B | 1.86B | 1.72B | 1.49B | 1.17B | 972.04M | 1.02B | 1.01B | 1.09B | 1.18B | 1.38B | 1.39B |
| Equity Growth % | 30.07% | 8.85% | 8.11% | 15.39% | 27.12% | 20.4% | -4.92% | 1.23% | -6.98% | -7.96% | -14.76% | -0.51% | - |
| Book Value per Share | 44.14 | 40.73 | 37.36 | 34.73 | 29.85 | 30.47 | 34.26 | 34.98 | 34.66 | 37.23 | 40.45 | 47.46 | 47.70 |
| Total Shareholders' Equity | 2.19B | 2.02B | 1.86B | 1.72B | 1.49B | 1.17B | 972.04M | 1.02B | 1.01B | 1.09B | 1.18B | 1.38B | 1.39B |
| Common Stock | 1.5B | 1.51B | 1.5B | 1.49B | 1.5B | 1.59B | 1.28B | 1.31B | 1.31B | 1.31B | 29.82M | 29.82M | 29.82M |
| Retained Earnings | 703.5M | 523.79M | 359.14M | 226.83M | -21.45M | -409.34M | -275.85M | -270.31M | -269.49M | -180.54M | -74.46M | 92.58M | 888K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -11.21M | -10.84M | -7.86M | -1.06M | 6.96M | -12.36M | -32.61M | -20.57M | -29.93M | -40.41M | -52.27M | -64.12M | -74.37M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 584K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cyclical Asset Value Sensitivity
According to the most recent quarterly data, INSW has successfully reduced its debt-to-equity ratio to 0.28 as of 2026Q1, reflecting a consistent trend of balance sheet deleveraging that enhances the company's resilience against the inherent volatility of the global tanker shipping market.
The steady reduction in leverage over the past ten quarters suggests a management focus on financial durability rather than aggressive debt-fueled expansion. This trajectory provides the company with significant optionality to navigate cyclical downturns while maintaining the capacity to pursue fleet renewal or opportunistic acquisitions.
As reported in financial statements, INSW maintains a debt-to-equity ratio of 0.28, which stands as a conservative outlier compared to industry peers, indicating that the company is well-positioned to manage interest rate fluctuations and maintain operational continuity during periods of reduced freight demand.
The current debt structure appears manageable, with total debt of $610.1 million relative to a substantial equity base of $2.2 billion. This low leverage profile suggests that the company is not overly reliant on external financing, which is a critical advantage in the capital-intensive energy shipping sector.
Based on reported figures, INSW's net PPE of $2.0 billion represents the vast majority of its $2.9 billion in total assets, underscoring the capital-intensive nature of the business and the ongoing requirement for significant maintenance capital expenditure to keep the fleet competitive.
The concentration of value in physical vessels necessitates careful monitoring of fleet age and regulatory compliance costs. Investors should note that while these assets drive revenue, they also represent a long-term commitment to high maintenance costs that could impact future cash flow if not managed effectively.
Data from recent filings shows a current ratio of 7.34 as of 2026Q1, which provides a substantial liquidity buffer that significantly exceeds the requirements for short-term operational obligations and protects the company against sudden disruptions in global trade routes or unexpected spikes in bunker fuel costs.
This high liquidity position appears to be a strategic choice, ensuring that the company can meet its obligations without needing to access volatile credit markets. Such a buffer is essential for a business model that is highly sensitive to seasonal and geopolitical shifts in the energy sector.
As evidenced by the growth in retained earnings to $703.5 million in 2026Q1, INSW has successfully utilized its operational profitability to strengthen its equity base, providing a solid foundation for future capital allocation decisions and potential shareholder returns.
The consistent accumulation of retained earnings suggests that the company is effectively converting its shipping profits into long-term shareholder value. This trend warrants further investigation into how management intends to balance this capital accumulation with the ongoing need for fleet modernization and dividend distributions.
Quick answers to the most common questions about buying INSW stock.
As of 2025, International Seaways, Inc. (INSW) had total assets of $2.67B including $367.0M in current assets.
International Seaways, Inc. (INSW) carries total debt of $576.2M, offset by $166.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
International Seaways, Inc. (INSW) has total shareholders' equity (book value) of $2.02B ($40.73 book value per share). Book value represents the net worth of the company belonging to common stock holders.
International Seaways, Inc. (INSW) reported a current ratio of 3.71x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.