International Seaways Financials
This page shows International Seaways (INSW) financial statements, including the 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).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
International Seaways has an operating margin of 47.8%, meaning the company retains $48 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 57.4% the prior year.
International Seaways's revenue declined 11.2% year-over-year, from $1.1B to $951.6M. This contraction results in a growth score of 0/100.
International Seaways carries a low D/E ratio of 0.34, meaning only $0.34 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.87, International Seaways holds $2.87 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 95/100.
International Seaways earns a strong 22.4% return on equity (ROE), meaning it generates $22 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 90/100. This is down from 32.4% the prior year.
International Seaways scores 3.78, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.3B) relative to total liabilities ($780.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
International Seaways passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, International Seaways generates $1.31 in operating cash flow ($547.1M OCF vs $416.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
International Seaways earns $9.2 in operating income for every $1 of interest expense ($455.2M vs $49.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
International Seaways generated $951.6M in revenue in fiscal year 2024. This represents a decrease of 11.2% from the prior year.
International Seaways's EBITDA was $604.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 18.8% from the prior year.
International Seaways reported $416.7M in net income in fiscal year 2024. This represents a decrease of 25.1% from the prior year.
International Seaways earned $8.38 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 25.5% from the prior year.
International Seaways held $157.5M in cash against $638.4M in long-term debt as of fiscal year 2024.
International Seaways paid $5.77 per share in dividends in fiscal year 2024. This represents a decrease of 8.3% from the prior year.
International Seaways had 49M shares outstanding in fiscal year 2024. This represents an increase of 0.5% from the prior year.
International Seaways's operating margin was 47.8% in fiscal year 2024, reflecting core business profitability. This is down 9.6 percentage points from the prior year.
International Seaways's net profit margin was 43.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 8.1 percentage points from the prior year.
International Seaways's ROE was 22.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 10.0 percentage points from the prior year.
International Seaways spent $25.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 79.2% from the prior year.
INSW Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $196.4M+0.4% | $195.6M+6.7% | $183.4M-26.9% | $250.7M+3.7% | $241.7M-17.3% | $292.2M+1.8% | $287.1M-15.1% | $338.2M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $11.8M-3.0% | $12.2M-8.0% | $13.2M+6.7% | $12.4M+0.6% | $12.3M+6.9% | $11.5M+2.5% | $11.2M-16.7% | $13.5M |
| Operating Income | $78.7M+13.4% | $69.4M+17.2% | $59.2M-59.8% | $147.3M+29.0% | $114.2M-32.3% | $168.7M-9.0% | $185.3M-20.3% | $232.5M |
| Interest Expense | $10.7M+2.9% | $10.4M-13.3% | $12.0M-14.8% | $14.1M-16.3% | $16.8M-6.1% | $17.9M+5.7% | $16.9M-0.8% | $17.1M |
| Income Tax | -$1.1M | $0 | $0-100.0% | $3.4M+6526.9% | $52K-86.4% | $381K+38200.0% | -$1K-104.0% | $25K |
| Net Income | $70.5M+14.4% | $61.6M+24.4% | $49.6M-62.5% | $132.1M+34.9% | $97.9M-36.3% | $153.8M-10.9% | $172.6M-21.0% | $218.4M |
| EPS (Diluted) | $1.42+13.6% | $1.25+25.0% | $1.00-62.7% | $2.68+34.7% | $1.99-36.0% | $3.11-10.4% | $3.47-20.6% | $4.37 |
INSW Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.8B+10.6% | $2.5B-0.8% | $2.5B+0.8% | $2.5B-1.5% | $2.6B-3.6% | $2.7B+3.3% | $2.6B-1.7% | $2.6B |
| Current Assets | $592.0M+78.1% | $332.4M+1.8% | $326.6M-29.8% | $465.0M-1.9% | $473.9M-15.3% | $559.7M-0.5% | $562.6M-12.5% | $642.6M |
| Cash & Equivalents | $412.6M+177.3% | $148.8M+12.1% | $132.8M+4.7% | $126.8M-8.8% | $139.0M+19.8% | $116.0M-25.7% | $156.2M-35.9% | $243.7M |
| Inventory | $577K+10.5% | $522K-8.9% | $573K-56.9% | $1.3M+16.3% | $1.1M+81.7% | $629K-9.9% | $698K+31.5% | $531K |
| Accounts Receivable | $155.0M+3.2% | $150.2M-6.3% | $160.4M-35.1% | $247.2M+12.4% | $219.8M-8.8% | $241.1M-2.8% | $248.0M-14.4% | $289.8M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $855.8M+37.3% | $623.4M-7.4% | $673.5M-16.3% | $805.1M-11.6% | $910.9M-12.0% | $1.0B+2.1% | $1.0B-10.1% | $1.1B |
| Current Liabilities | $337.7M-3.6% | $350.3M+195.8% | $118.4M-39.4% | $195.6M+4.4% | $187.3M-24.2% | $247.3M+8.7% | $227.5M-11.6% | $257.4M |
| Long-Term Debt | $509.5M+96.1% | $259.8M-52.3% | $544.7M-8.5% | $595.2M-15.8% | $707.0M-9.2% | $778.3M+0.1% | $777.2M-9.7% | $860.6M |
| Total Equity | $1.9B+1.8% | $1.9B+1.7% | $1.9B+8.9% | $1.7B+4.0% | $1.7B+1.8% | $1.6B+4.0% | $1.6B+4.7% | $1.5B |
| Retained Earnings | $438.8M+8.0% | $406.2M+8.6% | $374.2M+65.0% | $226.8M+45.5% | $155.9M+22.4% | $127.4M+140.9% | $52.9M+346.5% | -$21.4M |
INSW Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $78.3M-8.7% | $85.8M+22.6% | $69.9M-44.3% | $125.5M-15.5% | $148.5M-23.3% | $193.6M-12.3% | $220.8M+21.6% | $181.6M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$21.0M-319.5% | $9.6M-74.1% | $36.9M-18.5% | $45.3M+16.0% | $39.0M+128.6% | -$136.4M-88.8% | -$72.2M-682.7% | -$9.2M |
| Financing Cash Flow | $206.4M+360.3% | -$79.3M+39.7% | -$131.6M+28.1% | -$183.0M-11.2% | -$164.5M-42.1% | -$115.8M+46.8% | -$217.8M-109.1% | -$104.2M |
| Dividends Paid | $38.0M+28.3% | $29.6M-14.1% | $34.5M-46.7% | $64.7M-6.9% | $69.4M-12.4% | $79.3M-19.4% | $98.3M+78.7% | $55.0M |
| Share Buybacks | $0 | N/A | N/A | $0 | $0-100.0% | $13.9M | N/A | $0 |
INSW Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 40.1%+4.6pp | 35.5%+3.2pp | 32.3%-26.5pp | 58.8%+11.5pp | 47.2%-10.5pp | 57.7%-6.8pp | 64.5%-4.2pp | 68.8% |
| Net Margin | 35.9%+4.4pp | 31.5%+4.5pp | 27.0%-25.7pp | 52.7%+12.2pp | 40.5%-12.1pp | 52.6%-7.5pp | 60.1%-4.5pp | 64.6% |
| Return on Equity | 3.6%+0.4pp | 3.2%+0.6pp | 2.6%-5.1pp | 7.7%+1.8pp | 5.9%-3.5pp | 9.5%-1.6pp | 11.1%-3.6pp | 14.7% |
| Return on Assets | 2.5%+0.1pp | 2.4%+0.5pp | 1.9%-3.3pp | 5.2%+1.4pp | 3.8%-2.0pp | 5.8%-0.9pp | 6.7%-1.6pp | 8.3% |
| Current Ratio | 1.75+0.8 | 0.95-1.8 | 2.76+0.4 | 2.38-0.2 | 2.53+0.3 | 2.26-0.2 | 2.47-0.0 | 2.50 |
| Debt-to-Equity | 0.26+0.1 | 0.14-0.2 | 0.29-0.1 | 0.35-0.1 | 0.43-0.1 | 0.48-0.0 | 0.50-0.1 | 0.58 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is International Seaways's annual revenue?
International Seaways (INSW) reported $951.6M in total revenue for fiscal year 2024. This represents a -11.2% 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 International Seaways's revenue growing?
International Seaways (INSW) revenue declined by 11.2% year-over-year, from $1.1B to $951.6M in fiscal year 2024.
Is International Seaways profitable?
Yes, International Seaways (INSW) reported a net income of $416.7M in fiscal year 2024, with a net profit margin of 43.8%.
What is International Seaways's earnings per share (EPS)?
International Seaways (INSW) reported diluted earnings per share of $8.38 for fiscal year 2024. This represents a -25.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is International Seaways's EBITDA?
International Seaways (INSW) had EBITDA of $604.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does International Seaways have?
As of fiscal year 2024, International Seaways (INSW) had $157.5M in cash and equivalents against $638.4M in long-term debt.
What is International Seaways's operating margin?
International Seaways (INSW) had an operating margin of 47.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is International Seaways's net profit margin?
International Seaways (INSW) had a net profit margin of 43.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does International Seaways pay dividends?
Yes, International Seaways (INSW) paid $5.77 per share in dividends during fiscal year 2024.
What is International Seaways's return on equity (ROE)?
International Seaways (INSW) has a return on equity of 22.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is International Seaways's operating cash flow?
International Seaways (INSW) generated $547.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are International Seaways's total assets?
International Seaways (INSW) had $2.6B in total assets as of fiscal year 2024, including both current and long-term assets.
Does International Seaways buy back shares?
Yes, International Seaways (INSW) spent $25.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does International Seaways have outstanding?
International Seaways (INSW) had 49M shares outstanding as of fiscal year 2024.
What is International Seaways's current ratio?
International Seaways (INSW) had a current ratio of 2.87 as of fiscal year 2024, which is generally considered healthy.
What is International Seaways's debt-to-equity ratio?
International Seaways (INSW) had a debt-to-equity ratio of 0.34 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is International Seaways's return on assets (ROA)?
International Seaways (INSW) had a return on assets of 15.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is International Seaways's Altman Z-Score?
International Seaways (INSW) has an Altman Z-Score of 3.78, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is International Seaways's Piotroski F-Score?
International Seaways (INSW) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are International Seaways's earnings high quality?
International Seaways (INSW) 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.
Can International Seaways cover its interest payments?
International Seaways (INSW) has an interest coverage ratio of 9.2x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is International Seaways?
International Seaways (INSW) scores 77 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.