Latest Ratios: P/E Ratio 13.7x · EV/EBITDA 10.0x · ROE 16.0%. (2014–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.2B | $2.4B | $1.8B | $2.2B | $1.8B | $564M | $463M | $870M | $491M | $538M | $409M |
| Enterprise Value | $4.7B | $2.9B | $2.3B | $2.9B | $2.7B | $1.6B | $819M | $1.5B | $1.2B | $1.0B | $757M |
| P/E Ratio → | 13.68 | 7.79 | 4.28 | 4.04 | 4.76 | — | — | — | — | — | — |
| P/S Ratio | 5.00 | 2.86 | 1.88 | 2.10 | 2.13 | 2.07 | 1.10 | 2.38 | 1.81 | 1.86 | 1.03 |
| P/B Ratio | 2.09 | 1.19 | 0.96 | 1.31 | 1.24 | 0.48 | 0.48 | 0.85 | 0.49 | 0.50 | 0.35 |
| P/FCF | 110.65 | 63.15 | 6.82 | 4.67 | 10.78 | — | 2.80 | 17.29 | — | — | 3.60 |
| P/OCF | 11.10 | 6.34 | 3.26 | 3.27 | 6.41 | — | 2.14 | 9.94 | — | — | 3.51 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.40 | 2.46 | 2.67 | 3.10 | 5.84 | 1.94 | 4.02 | 4.60 | 3.55 | 1.90 |
| EV / EBITDA | 9.96 | 6.10 | 3.87 | 3.85 | 4.83 | — | 6.92 | 10.36 | 26.26 | 52.64 | 7.37 |
| EV / EBIT | 15.27 | 8.16 | 5.03 | 4.58 | 6.00 | — | 26.26 | 22.50 | — | — | 33.53 |
| EV / FCF | — | 75.19 | 8.93 | 5.95 | 15.64 | — | 4.95 | 29.26 | — | — | 6.65 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.3% | 42.3% | 50.2% | 58.6% | 54.4% | -13.9% | 40.1% | 22.8% | -3.4% | 4.6% | 31.6% |
| Operating Margin | 36.3% | 36.3% | 47.8% | 57.4% | 51.3% | -33.1% | 10.4% | 18.1% | -9.3% | -20.4% | 5.7% |
| Net Profit Margin | 36.7% | 36.7% | 43.8% | 51.9% | 44.9% | -49.0% | -1.3% | -0.2% | -32.9% | -36.6% | -4.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.0% | 16.0% | 23.3% | 34.7% | 29.2% | -12.5% | -0.6% | -0.1% | -8.5% | -9.4% | -1.4% |
| ROA | 11.7% | 11.7% | 16.2% | 21.7% | 15.6% | -6.8% | -0.3% | -0.0% | -5.1% | -6.4% | -1.0% |
| ROIC | 9.4% | 9.4% | 14.4% | 19.8% | 14.7% | -3.8% | 2.2% | 2.9% | -1.1% | -2.9% | 1.1% |
| ROCE | 12.1% | 12.1% | 18.8% | 26.3% | 19.8% | -5.0% | 2.8% | 3.9% | -1.5% | -3.7% | 1.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.29 | 0.29 | 0.38 | 0.43 | 0.72 | 0.96 | 0.57 | 0.68 | 0.80 | 0.51 | 0.37 |
| Debt / EBITDA | 1.23 | 1.23 | 1.18 | 1.00 | 1.94 | — | 4.69 | 4.87 | 17.13 | 28.22 | 4.28 |
| Net Debt / Equity | — | 0.23 | 0.30 | 0.36 | 0.56 | 0.88 | 0.37 | 0.59 | 0.75 | 0.45 | 0.29 |
| Net Debt / EBITDA | 0.98 | 0.98 | 0.92 | 0.83 | 1.50 | — | 3.00 | 4.24 | 15.90 | 25.16 | 3.39 |
| Debt / FCF | — | 12.05 | 2.12 | 1.28 | 4.86 | — | 2.15 | 11.97 | — | — | 3.05 |
| Interest Coverage | 8.23 | 8.23 | 9.36 | 9.52 | 7.72 | -2.62 | 0.85 | 0.99 | -0.48 | -1.57 | 0.56 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.71 | 3.71 | 2.87 | 2.38 | 2.50 | 0.96 | 2.36 | 1.64 | 2.23 | 2.79 | 3.79 |
| Quick Ratio | 3.71 | 3.71 | 2.86 | 2.37 | 2.49 | 0.95 | 2.33 | 1.60 | 2.19 | 2.72 | 3.76 |
| Cash Ratio | 1.69 | 1.69 | 1.20 | 0.95 | 1.26 | 0.42 | 1.83 | 0.78 | 0.77 | 1.27 | 2.04 |
| Asset Turnover | — | 0.32 | 0.36 | 0.43 | 0.33 | 0.12 | 0.27 | 0.21 | 0.15 | 0.17 | 0.24 |
| Inventory Turnover | 796.53 | 796.53 | 252.51 | 334.26 | 742.28 | 147.09 | 70.11 | 72.54 | 91.19 | 84.68 | 203.67 |
| Days Sales Outstanding | — | 82.98 | 76.44 | 89.04 | 127.63 | 150.99 | 41.41 | 87.50 | 134.83 | 78.76 | 66.18 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.4% | 6.0% | 15.9% | 1.0% | 1.1% | 1.7% | 1.5% | — | — | — | 49.3% |
| Payout Ratio | 46.8% | 46.8% | 68.3% | 4.2% | 5.3% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.3% | 12.8% | 23.3% | 24.7% | 21.0% | — | — | — | — | — | — |
| FCF Yield | 0.9% | 1.6% | 14.7% | 21.4% | 9.3% | — | 35.7% | 5.8% | — | — | 27.8% |
| Buyback Yield | 0.0% | 0.0% | 1.4% | 0.6% | 1.1% | 3.0% | 6.5% | 0.0% | 0.1% | 0.6% | 0.0% |
| Total Shareholder Yield | 3.4% | 6.0% | 17.3% | 1.7% | 2.2% | 4.6% | 7.9% | 0.0% | 0.1% | 0.6% | 49.3% |
| Shares Outstanding | — | $50M | $50M | $49M | $50M | $38M | $28M | $29M | $29M | $29M | $29M |
Volatile Spot Rate Exposure
According to current market data, INSW trades at a forward P/E of 5.52, which suggests that investors are pricing in a significant contraction in earnings compared to the TTM P/E of 12.76, reflecting the inherent volatility of the tanker shipping cycle and potential for future rate normalization.
The disparity between trailing and forward multiples indicates that the market anticipates a cooling of the current elevated freight rate environment. While the valuation appears inexpensive on a forward basis, investors should monitor whether this discount is a reflection of cyclical peak-earnings skepticism or a broader mispricing of the company's diversified fleet optionality.
Based on reported figures, INSW's ROIC has fluctuated between 1.4% and 5.8% over the last ten quarters, demonstrating that the company's ability to compound capital is highly sensitive to the prevailing spot market rates rather than consistent operational efficiency gains across the entire fleet.
The volatility in ROIC highlights the challenge of maintaining high returns in a capital-intensive industry where asset utilization is dictated by global trade flows. The recent uptick to 5.8% in 2026Q1 suggests a period of favorable market conditions, yet the historical trend warrants caution regarding the sustainability of these returns during cyclical downturns.
As reported in recent financial statements, INSW's cash conversion cycle has shown significant instability, swinging from 93 days in 2024Q4 to a negative 12 days in 2026Q1, which indicates that the company's ability to manage its working capital is heavily influenced by the timing of voyage completions.
The shift to a negative cash conversion cycle suggests that the company is currently collecting payments from customers faster than it is paying its own obligations, a trend that may be temporary. Analysts should investigate whether this efficiency is a result of improved operational processes or simply a byproduct of the current high-rate environment accelerating customer payment cycles.
Investors frequently misapply the Price-to-Book ratio to INSW, as reported in industry research, because it fails to account for the significant variance between the historical cost of vessels and their current market value, which is heavily influenced by environmental regulations and fleet age.
Relying on P/B ignores the 'hidden' value of the fleet's optionality and the potential for asset impairment or appreciation based on regulatory shifts. A more appropriate metric for this business model would be a Price-to-NAV (Net Asset Value) calculation, which better captures the current market worth of the underlying shipping assets.
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying INSW stock.
International Seaways, Inc.'s current P/E ratio is 13.7x. The historical average is 5.2x. This places it at the 100th percentile of its historical range.
International Seaways, Inc.'s current EV/EBITDA is 10.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.6x.
International Seaways, Inc.'s return on equity (ROE) is 16.0%. The historical average is 6.2%.
Based on historical data, International Seaways, Inc. is trading at a P/E of 13.7x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
International Seaways, Inc.'s current dividend yield is 3.42% with a payout ratio of 46.8%.
International Seaways, Inc. has 42.3% gross margin and 36.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
International Seaways, Inc.'s Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.