Tsakos Energy Navigation Limited (TEN) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q4'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 | Q4'20 |
|---|
| Cash from Operations | 94.39M | 63.79M | 52.15M | 87.81M | 59.66M | 85.26M | 74.96M | 92.2M | 44.57M | 143.5M | 115.01M | 200.1M | 8.58M | 49.27M | 24.28M | 16.64M | -48M | 73M | -50M | 474M |
| Operating CF Margin % | 42.5% | 33% | 26.47% | 46.64% | 29.8% | 39.83% | 37.18% | 41.87% | 23.88% | 64.8% | 44.03% | 74.04% | 3.84% | 22.74% | 16.22% | 11.96% | -36.48% | 1.59% | -1.06% | 10.19% |
| Operating CF Growth % | 7.5% | -25.18% | -30.43% | -4.77% | 33.84% | -40.58% | -34.82% | -53.92% | 419.32% | 191.25% | 373.59% | 1102.72% | 117.88% | -32.51% | 148.57% | -96.49% | -109.88% | 140.78% | 67.11% | 24.74% |
| Net Income | 57.48M | 26.83M | 37.71M | 19.27M | 26.54M | 76.39M | 54.03M | 31.76M | 31.23M | 60.64M | 176.55M | 101.14M | 51.35M | 46.23M | 5.52M | -101.91M | 15M | -10M | 65M | 167M |
| Depreciation & Amortization | 44.42M | 42.09M | 41.13M | 41.55M | 41.34M | 39.49M | 37.53M | 37.54M | 36.3M | 35.26M | 35.14M | 37.41M | 35.89M | 34.17M | 33.35M | 36.05M | 147M | 145M | 155M | 158M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5M | 6M | 6M | 6M | 9M | 4M | 5M | 5M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5M | -4M | -3M | 4M | -4M | 16M | -4M | -1M |
| Other Non-Cash Items | -7.51M | -26.83M | -37.71M | 87.81M | 59.66M | 85.26M | -16.6M | 22.9M | 52.13M | 115.63M | -26.41M | 136.37M | -6.88M | 37.21M | 52.11M | 154.59M | -16M | 8M | 47M | -90M |
| Working Capital Changes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -69M | -247M | -200M | 145M | -199M | -90M | -318M | 235M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -349M | -571M | -320M | -408M | 20M | -29M | -452M | -321M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 56M | -80M | -213M | 32M | -1M | -73M | -120M | -24M |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 156M | 70M | 325M | 221M | -238M | 9M | 240M | 66M |
| Cash from Investing | -55.02M | -233.48M | -2.65M | -18.75M | -66.35M | -159.5M | -197.02M | -83.6M | -90.87M | -49.3M | 86.32M | -244.36M | 86.71M | 14.04M | -158.2M | -26.68M | 31M | 57M | 28M | 61M |
| Capital Expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -82M | -78M | -93M | -101M | -101M | -90M | -95M | -86M |
| CapEx % of Revenue | 42.5% | - | - | - | - | - | - | - | - | - | - | - | 36.65% | 35.99% | 62.12% | 72.59% | 76.77% | 1.96% | 2.01% | 1.85% |
| Acquisitions | 99.05M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 165.94M | 0 | 0 | 5M | 2M | 1M | 53.22M | 3M | 3M | 1M | 6M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -154.07M | 0 | 0 | -18.75M | -66.35M | -159.5M | -197.02M | -83.6M | 0 | 0 | 0 | 0 | 95M | 119M | 103M | 159M | 129M | 144M | 122M | 141M |
| Cash from Financing | -5.56M | 107.33M | -48.24M | -66.65M | -29.33M | 112.16M | 89.36M | -25.41M | -94.3M | -35.79M | -35.09M | 196.88M | -110.26M | -34.48M | 149.68M | 21.61M | -91M | -59M | -130M | -494M |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -129.15M | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 77.05M | 0 | 0 | 0 | -2.38M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -11M | -44M | -32M | -36.31M | 0 | -1M | -57M | -23M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2M | -2.38M |
| Other Financing | -5.56M | 107.33M | -48.24M | -66.65M | -29.33M | 112.16M | 89.36M | -25.41M | -94.3M | -35.79M | -35.09M | 75.38M | 4.95M | -22.48M | 149.68M | 110.02M | -91M | -46.7M | -130M | -468.62M |
| Net Change in Cash | 38.8M | -62.36M | 1.27M | -37.59M | 3.98M | 37.93M | -409.39M | -410.32M | -674.68M | -417.27M | -143.2M | 108.01M | 29.63M | 28.83M | 15.77M | 11.57M | -124M | 88M | -172M | 82M |
| Free Cash Flow | -425.52M | -201.81M | 52.15M | -562.22M | 59.66M | 85.26M | 74.96M | 92.2M | 44.57M | 143.5M | 115.01M | 200.1M | -73.42M | -28.73M | -68.72M | -84.36M | -149M | -17M | -145M | 388M |
| FCF Margin % | -191.59% | -104.4% | 26.47% | -298.64% | 29.8% | 39.83% | 37.18% | 41.87% | 23.88% | 64.8% | 44.03% | 74.04% | -32.81% | -13.26% | -45.9% | -60.64% | -113.25% | -0.37% | -3.06% | 8.34% |
| FCF Growth % | 24.31% | -336.69% | -30.43% | -709.75% | 33.84% | -40.58% | -34.82% | -53.92% | 160.71% | 599.45% | 267.36% | 337.19% | 50.73% | -69.01% | 52.61% | -121.74% | -138.21% | 93.31% | 49.83% | 119.21% |
| FCF per Share | -14.27 | -6.80 | 1.76 | -18.98 | 2.01 | 2.89 | 2.54 | 3.12 | 1.51 | 4.86 | 3.90 | 6.86 | -2.54 | -1.01 | -2.69 | -3.85 | -7.53 | -0.34 | -2.88 | 7.71 |
| FCF Conversion (FCF/Net Income) | 1.63x | 2.38x | 1.38x | 4.56x | 2.25x | 1.12x | 1.39x | 2.90x | 1.43x | 2.37x | 0.65x | 1.98x | 0.17x | 1.07x | 4.40x | -0.16x | 1.92x | -7.30x | -0.77x | 2.84x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |