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DHT HOLDINGS, INC. (DHT) Financials

DHT
FY2025 annual
Revenue $498.4M -12.8% YoY
Net Income $211.0M +16.3% YoY
EPS (Diluted) Not reported for FY2025
Operating Cash Flow $276.6M -7.4% YoY
Market Cap $3.8B as of Oct 2, 2026
Price / Sales 7.7x on $498.4M revenue, FY2025
Price / Earnings 18.1x on $211.0M net income, FY2025
Price / Book 3.4x on $1.1B equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Currency USD FYE December

Newest figures come from the 20-F for FY2025, filed Mar 19, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DHT SEC filings page.

DHT HOLDINGS, INC. (DHT) reported $498.4M in revenue for fiscal year 2025, down 12.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI DHT FY2025

Profitability is decoupling from volume as lower financing costs and asset-backed cash generation reshape returns.

2025 revenue fell to $498M, yet net income reached $211M as interest expense dropped to $14M; the margin expansion therefore reflects financing relief and the business mix or cost structure, not simply more sales. Operating cash flow of $277M still exceeded earnings, consistent with substantial noncash depreciation supporting cash conversion quality.

The company operates with a large asset base relative to revenue: $1.6B of assets produced a 13.2% return on assets in FY2025. That combination points to an asset-heavy model where vessel or equipment utilization matters more than a simple revenue-growth reading.

Balance-sheet leverage remains moderate at 0.4x debt to equity, while the current ratio recovered to 2.8x from 1.8x in FY2024. Meanwhile, $166M of investing cash outflow and $119M of dividends show that operating cash is being divided between reinvestment and shareholder distributions rather than accumulating solely on the balance sheet.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

DHT HOLDINGS, INC. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
6/8

DHT HOLDINGS, INC. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.31x

For every $1 of reported earnings, DHT HOLDINGS, INC. generates $1.31 in operating cash flow ($276.6M OCF vs $211.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt
$79.0M
YoY+1.1%
QoQ-2.7%

DHT HOLDINGS, INC. held $79.0M in cash against $428.7M in long-term debt as of Q4 2025.

Shares Outstanding
161M
YoY+0.5%
QoQ0.0%

DHT HOLDINGS, INC. had 161M shares outstanding in Q4 2025. This represents an increase of 0.5% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

DHT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DHT quarterly income statement
MetricQ4'2520-FQ3'256-KQ4'2420-FQ3'246-KQ4'2310-KQ3'2310-QQ4'2210-KQ3'2210-Q
RevenueN/A$107.3M-24.5%N/A$142.1M+8.0%N/A$131.6M+19.7%N/A$109.9M+86.0%
Interest ExpenseN/A$2.6M-64.7%N/A$7.3M-16.7%N/A$8.8M+26.7%N/A$6.9M+9.3%
Income TaxN/A$93K+17.7%N/A$79K-42.3%N/A$137K-44.3%N/A$246K+153.6%
Net IncomeN/A$44.8M+27.3%N/A$35.2M+13.6%N/A$31.0M+315.3%N/A$7.5M+135.5%
Diluted Shares (Avg)N/A161M-0.4%N/A162M-0.2%N/A162M-0.7%N/A163M-2.7%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, EPS (Basic), EPS (Diluted).

DHT Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DHT quarterly balance sheet
MetricQ4'2520-FQ3'256-KQ4'2420-FQ3'246-KQ4'2310-KQ3'2310-QQ4'2210-KQ3'2210-Q
Total Assets$1.6B+7.8%$1.4B-5.2%$1.5B-0.4%$1.5B-1.5%$1.5B-1.1%$1.5B+2.1%$1.5B-6.3%$1.5B-9.4%
Current Assets$208.9M+3.5%$146.6M-19.2%$201.9M+0.7%$181.5M+1.3%$200.5M-14.9%$179.2M+5.2%$235.6M+78.5%$170.4M+43.7%
Cash & Equivalents$79.0M+1.1%$81.3M+10.1%$78.1M+4.6%$73.8M-0.1%$74.7M-40.7%$73.9M+12.5%$125.9M+107.6%$65.7M+1.9%
Inventory$24.7M-34.5%$23.5M$37.7M+11.5%N/A$33.8MN/AN/AN/A
Goodwill$1.4M0.0%$1.4M0.0%$1.4M0.0%$1.4M0.0%$1.4M0.0%$1.4M0.0%$1.4M$1.4M
Total Liabilities$469.7M+5.8%$302.4M-31.1%$443.9M-3.6%$438.9M-6.8%$460.6M+5.9%$471.0M+4.9%$435.0M-22.6%$449.1M-20.1%
Current Liabilities$74.7M-31.8%$60.8M-19.2%$109.6M+93.6%$75.3M-4.4%$56.6M-12.1%$78.8M+16.0%$64.4M+53.5%$67.9M+87.2%
Non-Current Liabilities$395.0M+18.2%$241.6M-33.6%$334.3M-17.2%$363.6M-7.3%$404.0M+9.0%$392.2M+2.9%$370.6M-28.7%$381.2M-27.5%
Long-Term Debt$428.7M+4.7%$268.5M-34.1%$409.4M-4.5%$407.6M-6.6%$428.7M+8.1%$436.6M+4.2%$396.7M-24.0%$418.9M-20.2%
Total Equity$1.1B+8.7%$1.1B+5.8%$1.0B+1.1%$1.0B+0.9%$1.0B-3.9%$1.0B+0.9%$1.1B+2.5%$1.0B-3.7%
Retained Earnings-$96.2M+48.4%-$133.1M+35.4%-$186.3M+9.8%-$205.9M+2.3%-$206.5M-14.3%-$210.8M+10.7%-$180.7M+18.8%-$236.1M-9.3%

Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments.

DHT Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DHT quarterly cash flow statement
MetricQ4'2520-FQ3'256-KQ4'2420-FQ3'246-KQ4'2310-KQ3'2310-QQ4'2210-KQ3'2210-Q
Operating Cash Flow$73.0M+10.9%$60.9M-24.0%$65.8M+55.6%$80.1M+43.8%$42.3M-53.2%$55.7M+917.0%$90.3M+377.5%$5.5M+274.8%
Depreciation & Amortization$27.0M-2.3%$26.0M-7.7%$27.6M-3.0%$28.1M-0.7%$28.5M+2.8%$28.3M-6.2%$27.7M-15.4%$30.2M-4.8%
Investing Cash Flow-$205.7M-1483.0%$11.5M+141.3%-$13.0M-490.0%-$27.9M+70.0%-$2.2M-34.4%-$93.0M-368.9%-$1.6M+87.5%$34.6M+25.2%
Financing Cash Flow$130.5M+372.4%-$73.8M-43.0%-$47.9M-21.2%-$51.6M-166.8%-$39.5M-36.2%-$19.3M+75.8%-$29.0M-202.5%-$79.8M-550.6%
Dividends Paid$28.9M-18.5%$38.6M-11.5%$35.5M+16.1%$43.6M-23.1%$30.6M+370.1%$56.7M+770.9%$6.5M+95.2%$6.5M+94.3%
Share BuybacksN/AN/AN/AN/A$0$9.9M+12.5%$0-100.0%$8.8M+31.3%

Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow.

DHT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DHT quarterly financial ratios
MetricQ4'2520-FQ3'256-KQ4'2420-FQ3'246-KQ4'2310-KQ3'2310-QQ4'2210-KQ3'2210-Q
Net MarginN/A41.7%+17.0ppN/A24.8%+1.2ppN/A23.5%+16.8ppN/A6.8%+42.4pp
Return on EquityN/A4.1%+0.7ppN/A3.4%+0.4ppN/A3.0%+2.3ppN/A0.7%+2.7pp
Return on AssetsN/A3.2%+0.8ppN/A2.4%+0.3ppN/A2.1%+1.6ppN/A0.5%+1.8pp
Current Ratio2.80+1.0x2.410.0x1.84-1.7x2.41+0.1x3.54-0.1x2.28-0.2x3.66+0.5x2.51-0.8x
Debt-to-Equity0.380.0x0.25-0.1x0.390.0x0.390.0x0.420.0x0.430.0x0.37-0.1x0.41-0.1x
Asset TurnoverN/A0.080.0xN/A0.100.0xN/A0.090.0xN/A0.070.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
DHT HOLDINGS, INC. DHT FY2025 $498.4M $211.0M 42.3% $3.8B —
Teekay Tankers Ltd. TNK FY2025 $951.8M $351.2M 36.9% $3.4B 67/100
Global Partners LP GLP FY2025 $18.6B $98.0M 0.5% $1.6B 40/100
FLEX LNG Ltd. FLNG FY2025 $347.6M $74.8M 21.5% $1.7B 49/100
DORIAN LPG LTD LPG FY2026 $481.5M $193.7M 40.2% $2.4B 56/100
NAVIGATOR HOLDINGS LTD. NVGS FY2025 $587.0M $100.1M 17.1% $1.4B 59/100

Frequently Asked Questions

What is DHT HOLDINGS, INC.'s annual revenue?

DHT HOLDINGS, INC. (DHT) reported $498.4M in total revenue for fiscal year 2025. This represents a -12.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is DHT HOLDINGS, INC.'s revenue growing?

DHT HOLDINGS, INC. (DHT) revenue declined by 12.8% year-over-year, from $571.8M to $498.4M in fiscal year 2025.

Is DHT HOLDINGS, INC. profitable?

Yes, DHT HOLDINGS, INC. (DHT) reported a net income of $211.0M in fiscal year 2025, with a net profit margin of 42.3%.

As of fiscal year 2025, DHT HOLDINGS, INC. (DHT) had $79.0M in cash and equivalents against $428.7M in long-term debt.

DHT HOLDINGS, INC. (DHT) had a net profit margin of 42.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

DHT HOLDINGS, INC. (DHT) has a return on equity of 18.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

DHT HOLDINGS, INC. (DHT) generated $276.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

DHT HOLDINGS, INC. (DHT) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.

DHT HOLDINGS, INC. (DHT) had 161M shares outstanding as of fiscal year 2025.

DHT HOLDINGS, INC. (DHT) had a current ratio of 2.80 as of fiscal year 2025, which is generally considered healthy.

DHT HOLDINGS, INC. (DHT) had a debt-to-equity ratio of 0.38 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

DHT HOLDINGS, INC. (DHT) had a return on assets of 13.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

DHT HOLDINGS, INC. (DHT) trades at 18.1x earnings, its market capitalization divided by net income of $211.0M net income, FY2025. The market capitalization is $3.8B as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

DHT HOLDINGS, INC. (DHT) trades at 7.7x sales, its market capitalization divided by revenue of $498.4M revenue, FY2025. The market capitalization is $3.8B as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

DHT HOLDINGS, INC. (DHT) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

DHT HOLDINGS, INC. (DHT) has an earnings quality ratio of 1.31x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

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