View Future GrowthTORM 過去の業績過去 基準チェック /26TORMは、平均年間30%の収益成長を遂げていますが、 Oil and Gas業界の収益は、年間 成長しています。収益は、平均年間10% 16.6%収益成長率で 成長しています。 TORMの自己資本利益率は13%であり、純利益率は21.3%です。主要情報30.02%収益成長率27.59%EPS成長率Oil and Gas 業界の成長33.67%収益成長率16.62%株主資本利益率12.98%ネット・マージン21.30%次回の業績アップデート13 May 2026最近の業績更新Reported Earnings • Feb 27Full year 2025 earnings released: EPS: US$2.91 (vs US$6.54 in FY 2024)Full year 2025 results: EPS: US$2.91 (down from US$6.54 in FY 2024). Revenue: US$1.34b (down 14% from FY 2024). Net income: US$285.3m (down 53% from FY 2024). Profit margin: 21% (down from 39% in FY 2024). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 18% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.お知らせ • Dec 19+ 3 more updatesTORM plc to Report First Half, 2026 Results on Aug 26, 2026TORM plc announced that they will report first half, 2026 results on Aug 26, 2026Reported Earnings • Nov 06Third quarter 2025 earnings released: EPS: US$0.79 (vs US$1.38 in 3Q 2024)Third quarter 2025 results: EPS: US$0.79 (down from US$1.38 in 3Q 2024). Revenue: US$342.6m (down 7.9% from 3Q 2024). Net income: US$77.6m (down 41% from 3Q 2024). Profit margin: 23% (down from 35% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is expected to decline by 28% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.2%. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: US$0.60 (vs US$2.08 in 2Q 2024)Second quarter 2025 results: EPS: US$0.60 (down from US$2.08 in 2Q 2024). Revenue: US$315.2m (down 28% from 2Q 2024). Net income: US$58.6m (down 70% from 2Q 2024). Profit margin: 19% (down from 44% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 26% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.9%. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.Reported Earnings • May 09First quarter 2025 earnings released: EPS: US$0.64 (vs US$2.34 in 1Q 2024)First quarter 2025 results: EPS: US$0.64 (down from US$2.34 in 1Q 2024). Revenue: US$329.1m (down 26% from 1Q 2024). Net income: US$62.3m (down 70% from 1Q 2024). Profit margin: 19% (down from 47% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 27% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.7%. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 06Full year 2024 earnings released: EPS: US$6.54 (vs US$7.75 in FY 2023)Full year 2024 results: EPS: US$6.54 (down from US$7.75 in FY 2023). Revenue: US$1.56b (up 2.6% from FY 2023). Net income: US$612.5m (down 5.5% from FY 2023). Profit margin: 39% (down from 43% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 28% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth.すべての更新を表示Recent updatesBuy Or Sell Opportunity • Apr 14Now 22% undervaluedOver the last 90 days, the stock has risen 27% to US$29.50. The fair value is estimated to be US$37.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has declined by 30%. For the next 3 years, revenue is forecast to decline by 14% per annum. Earnings are also forecast to decline by 17% per annum over the same time period.Valuation Update With 7 Day Price Move • Mar 12Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to US$24.64, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Oil and Gas industry in the US. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$38.09 per share.Declared Dividend • Mar 02Fourth quarter dividend of US$0.70 announcedShareholders will receive a dividend of US$0.70. Ex-date: 12th March 2026 Payment date: 25th March 2026 Dividend yield will be 6.9%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (73% earnings payout ratio) but not covered by cash flows (114% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 56% over the next 3 years. Since a fall of 19% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Reported Earnings • Feb 27Full year 2025 earnings released: EPS: US$2.91 (vs US$6.54 in FY 2024)Full year 2025 results: EPS: US$2.91 (down from US$6.54 in FY 2024). Revenue: US$1.34b (down 14% from FY 2024). Net income: US$285.3m (down 53% from FY 2024). Profit margin: 21% (down from 39% in FY 2024). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 18% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.お知らせ • Feb 26+ 1 more updateTORM plc Announces Interim Dividend for the Fourth Quarter of 2025, Payable on 25 March 2026TORM plc announced that the Board of Directors has approved an interim dividend for the fourth quarter of 2025 of USD 0.70 per share to be paid to the shareholders, corresponding to an expected total dividend payment of USD 70.9 million. The payment date is 25 March 2026 to all shareholders on record as of 12 March 2026, and the ex-dividend date is 11 March 2026 for the shares listed on Nasdaq OMX Copenhagen and 12 March 2026 for the shares listed on Nasdaq New York.Price Target Changed • Jan 29Price target increased by 14% to US$27.00Up from US$23.67, the current price target is an average from 3 analysts. New target price is 11% above last closing price of US$24.30. Stock is up 22% over the past year. The company is forecast to post earnings per share of US$2.88 for next year compared to US$6.54 last year.Board Change • Jan 08Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Annette Beate Wacknitz Justad was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Jan 07TORM plc Announces Departure of Deputy Chairman and Senior Independent Director David Weinstein and Board Structure Changes, Effective January 6, 2026TORM plc announced that as the ownership stake held by Oaktree Capital Management, L.P. and its affiliates is now below the one-third threshold, the position and authority of the B-Director is extinguished. As a result, Deputy Chairman and Senior Independent Director, David Weinstein, will leave the Board effective as of January 6, 2026. Upon his departure from the Board, the Company has retained Mr. Weinstein in an ongoing capacity as a Special Advisor to the Board. The limitations on TORM plc's actions set out in Article 137 stop having effect immediately at the threshold date and no approvals will be needed other than any provided under the legislation for any reserved matter after that time. The B- and C-shares are in the process of being redeemed and cancelled in accordance with the Articles and no further B- or C-shares can then be issued. The C-share right to vote 350,000,000 shares has ceased as from the threshold date. The right of the B-share to one vote continues until it is redeemed. Therefore, from the threshold date, the voting rights are 101,332,707 A-shares and one B-share, each with one vote per share. After the redemption/cancellation, TORM plc's share capital will amount to USD 1,013,327.07 dividend into 101,332,707 A-shares of USD 0.01 each.Seeking Alpha • Jan 06TORM: Trading At A Discount And With A Merger In The Making (Rating Upgrade)Summary TORM plc is upgraded to 'Buy' following Hafnia's 13D filing and acquisition interest. TRMD trades below its $24 NAV per share, presenting a 20% upside, and historically commands a premium. The company maintains strong operational performance, generous dividends, and a solid balance sheet with 25% leverage. Read the full article on Seeking Alphaお知らせ • Dec 24Hafnia Limited (OB:HAFNI) completed the acquisition of 13.97% stake in TORM plc (CPSE:TRMD A) from Oaktree Capital Management, L.P. and and its affiliates.Hafnia Limited (OB:HAFNI) enters into a preliminary agreement to acquire 14.45% stake in TORM plc (CPSE:TRMD A) from Oaktree Capital Management, L.P. and and its affiliates for approximately $310 million on September 3, 2025. Hafnia Limited entered into a binding share purchase agreement to acquire 14.45% stake in TORM plc on September 11, 2025. A cash consideration valued at $22 per share will be paid by Hafnia Limited. The Announcement notes that completion of the Share Purchase is subject to entry into a definitive agreement and the fulfilment of customary conditions precedent, including among others, obtaining any required regulatory clearances and approvals, the satisfaction of certain covenants, The appointment of a new independent board chairman of TORM and approval of the Transaction by the Administrative Council for Economic Defense (Conselho Administrativo de Defesa Econômica – CADE) in Brazil. As of December 18, 2025, all conditions precedent required for the completion of Hafnia’s acquisition of approximately 14.1 million A-shares in TORM plc have been satisfied. Since September 11, 2025, TORM has announced to have increased its issued share capital by 3,380,278 new A-shares. Consequently, Hafnia’s acquisition of approximately 14.1 million A-shares will represent approximately 13.97% of TORM’s issued share capital as per the date hereof. Upon completion, Hafnia will hold approximately 13.97% of the issued share capital of TORM. Completion of the acquisition is expected to take place shortly. Dan Schuster-Woldan, Matthew Hearn, Ross Ferguson, Christopher J. Cummings, Deeksha Rathi of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Oaktree Capital Management, L.P., and its affiliates in the sale of stake in TORM. Henrik Laursen, Janus Jepsen, Peter E. Stassen, Lise Aaby Nielsen, Lynge Daugaard Jensen of Plesner Advokatpartnerselskab acted as legal advisor to Hafnia Limited. Hafnia Limited (OB:HAFNI) completed the acquisition of 13.97% stake in TORM plc (CPSE:TRMD A) from Oaktree Capital Management, L.P. and and its affiliates on December 22, 2025.Recent Insider Transactions • Dec 23CEO & Executive Director recently sold US$2.6m worth of stockOn the 19th of December, Jacob Meldgaard sold around 132k shares on-market at roughly US$20.03 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jacob's only on-market trade for the last 12 months.お知らせ • Dec 20TORM plc, Annual General Meeting, Apr 15, 2026TORM plc, Annual General Meeting, Apr 15, 2026.お知らせ • Dec 19+ 3 more updatesTORM plc to Report First Half, 2026 Results on Aug 26, 2026TORM plc announced that they will report first half, 2026 results on Aug 26, 2026Price Target Changed • Nov 20Price target increased by 7.0% to US$25.33Up from US$23.67, the current price target is an average from 2 analysts. New target price is 11% above last closing price of US$22.88. Stock is down 3.9% over the past year. The company is forecast to post earnings per share of US$2.88 for next year compared to US$6.54 last year.Declared Dividend • Nov 09Third quarter dividend of US$0.62 announcedShareholders will receive a dividend of US$0.62. Ex-date: 20th November 2025 Payment date: 3rd December 2025 Dividend yield will be 8.9%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not covered by earnings (180% earnings payout ratio) nor is it covered by cash flows (203% cash payout ratio). The dividend has increased by an average of 23% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 100% to bring the payout ratio under control. However, EPS is expected to decline by 57% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.お知らせ • Nov 07+ 1 more updateTORM plc Increases Earnings Guidance for the Full Year of 2025TORM plc increased earnings guidance for the full year of 2025. For the period, TCE earnings are expected to be in the range of USD 875 million - USD 925 million (previous guidance USD 800 million - USD 950 million).Reported Earnings • Nov 06Third quarter 2025 earnings released: EPS: US$0.79 (vs US$1.38 in 3Q 2024)Third quarter 2025 results: EPS: US$0.79 (down from US$1.38 in 3Q 2024). Revenue: US$342.6m (down 7.9% from 3Q 2024). Net income: US$77.6m (down 41% from 3Q 2024). Profit margin: 23% (down from 35% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is expected to decline by 28% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.2%. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.Price Target Changed • Oct 02Price target increased by 8.3% to US$25.27Up from US$23.33, the current price target is an average from 2 analysts. New target price is 19% above last closing price of US$21.30. Stock is down 36% over the past year. The company is forecast to post earnings per share of US$3.07 for next year compared to US$6.54 last year.Declared Dividend • Aug 17Second quarter dividend of US$0.40 announcedShareholders will receive a dividend of US$0.40. Ex-date: 22nd August 2025 Payment date: 3rd September 2025 Dividend yield will be 13%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not covered by earnings (149% earnings payout ratio) nor is it covered by cash flows (221% cash payout ratio). The dividend has increased by an average of 23% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 66% to bring the payout ratio under control. However, EPS is expected to decline by 38% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio.お知らせ • Aug 16+ 1 more updateTorm plc Approves Interim Dividend for Second Quarter of 2025, Payable on 3 September 2025The Board of Directors of TORM plc have approved an interim dividend for the second quarter of 2025 of USD 0.40 per share to be paid to the shareholders corresponding to an expected total dividend payment of USD 39.2 million. The distribution for the quarter is equivalent to 67% of net profit and reflects the Distribution Policy. The payment date is 3 September 2025 to all shareholders on record as of 22 August 2025, and the ex-dividend date is 21 August 2025 for the shares listed on Nasdaq OMX Copenhagen and 22 August 2025 for the shares listed on Nasdaq New York.Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: US$0.60 (vs US$2.08 in 2Q 2024)Second quarter 2025 results: EPS: US$0.60 (down from US$2.08 in 2Q 2024). Revenue: US$315.2m (down 28% from 2Q 2024). Net income: US$58.6m (down 70% from 2Q 2024). Profit margin: 19% (down from 44% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 26% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.9%. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.お知らせ • Jun 04TORM plc (CPSE:TRMD A) acquired remaining 25% stake in ME Production A/S from Jens Peter Faldt.TORM plc (CPSE:TRMD A) acquired remaining 25% stake in ME Production A/S from Jens Peter Faldt on June 3, 2025. TORM plc (CPSE:TRMD A) Completed the acquisition of remaining 25% stake in ME Production A/S from Jens Peter Faldt on June 3, 2025.Declared Dividend • May 11Dividend of US$0.40 announcedShareholders will receive a dividend of US$0.40. Ex-date: 22nd May 2025 Payment date: 4th June 2025 Dividend yield will be 24%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not covered by earnings (105% earnings payout ratio) nor is it covered by cash flows (141% cash payout ratio). The dividend has increased by an average of 23% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 16% to bring the payout ratio under control. However, EPS is expected to decline by 50% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio.Reported Earnings • May 09First quarter 2025 earnings released: EPS: US$0.64 (vs US$2.34 in 1Q 2024)First quarter 2025 results: EPS: US$0.64 (down from US$2.34 in 1Q 2024). Revenue: US$329.1m (down 26% from 1Q 2024). Net income: US$62.3m (down 70% from 1Q 2024). Profit margin: 19% (down from 47% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 27% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.7%. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.お知らせ • May 09+ 1 more updateTORM plc Narrows Earnings Guidance for the Full Year of 2025TORM plc narrowed earnings guidance for the full year of 2025. Based on the earnings realized in the first quarter of the year as well as the coverage for the remaining part of the year, the company narrows the full-year 2025 guidance. Thus, TCE earnings are expected to be in the range of USD 700 million to USD 900 million (2024: USD 1,135 million).Recent Insider Transactions • Apr 04Non-Executive Independent Director recently sold US$45k worth of stockOn the 1st of April, Annette Beate Wacknitz Justad sold around 3k shares on-market at roughly US$16.51 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$8.8m more than they bought in the last 12 months.Upcoming Dividend • Mar 13Upcoming dividend of US$0.60 per shareEligible shareholders must have bought the stock before 20 March 2025. Payment date: 02 April 2025. Payout ratio is on the higher end at 78%, and the cash payout ratio is above 100%. Trailing yield: 28%. Within top quartile of American dividend payers (4.7%). Higher than average of industry peers (4.0%).Seeking Alpha • Mar 07TORM Beats Q4 Earnings, I'll Stay Long For NowSummary TORM plc just released its fourth quarter earnings and surpassed estimates. The release beat on revenue and EPS. TORM plc stock is dirt cheap, trading at just 2.3 times reported earnings and 1.9 times cash flow. Although many tanker deliveries are expected this year, the amount of them should be manageable. In this article I explore why I'm slightly bullish on TORM at today's price. Read the full article on Seeking AlphaReported Earnings • Mar 06Full year 2024 earnings released: EPS: US$6.54 (vs US$7.75 in FY 2023)Full year 2024 results: EPS: US$6.54 (down from US$7.75 in FY 2023). Revenue: US$1.56b (up 2.6% from FY 2023). Net income: US$612.5m (down 5.5% from FY 2023). Profit margin: 39% (down from 43% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 28% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth.お知らせ • Mar 06+ 1 more updateTorm plc Provides Earnings Guidance for the Year 2025TORM plc provided earnings guidance for the year 2025. For the full year 2025, TCE earnings are expected to be in the range of USD 650 million - 950 million (2024: USD 1,135m).Seeking Alpha • Feb 22TORM: Time To Buy After The 50% Drawdown, Earnings On TapSummary I am upgrading TORM Plc to a buy due to attractive valuation and key technical support, despite a softer operating environment and geopolitical risks. TORM's Q3 results were strong with EPS of $1.35 beating estimates, but full-year guidance was lowered due to geopolitical uncertainties and asset pricing concerns. Key risks include potential easing of Red Sea disruptions, weaker global trade, and higher geopolitical tensions, but bullish seasonality and low P/E offer upside potential. Shares are near key $16 support with a bullish RSI divergence, indicating a possible bottoming process ahead of the Q4 earnings report. Read the full article on Seeking AlphaSeeking Alpha • Jan 21TORM: A Unique Combination Of Geopolitical Turmoil, Economics, And BalanceSummary Russian sanctions will remove a significant number of crude tankers from the market. This opens the refined product trade to benefit from cannibalization of the crude market and removal of LR2 capacity. Peace agreements between Israel and the Hamas could allow the Red Sea to eventually reopen, removing ton-miles from the global fleet. I believe both of these events will largely be offsetting, creating what appears to be continued balance in the market. TRMD's stock price now trades below NAV, creating value for shareholders. Read the full article on Seeking AlphaSeeking Alpha • Jan 15TORM's 20% Dividend Yield And Market Tailwinds Make It A 'Buy'Summary TORM's recent stock weakness, in my view, is a buying opportunity, as the key factors behind its post-2018 rebound should persist for the next 2-3 years. Strong Q3 performance with $263M TCE earnings, $191M EBITDA, and 20.3% ROIC, showcasing resilience in a volatile market. Structural industry dynamics, like an aging global fleet and limited newbuilds, support sustained high TCE rates and earnings growth. TRMD might have an undervaluation of ~45.4% to its current stock price. Hence, my "Buy" rating reiteration on TRMD stock today. Read the full article on Seeking AlphaSeeking Alpha • Dec 12TORM Stock Could Be A Great Value Investment For The Next Few YearsSummary The global energy sector is evolving, but traditional energy sources remain crucial; TORM plc's tanker fleet is vital for global energy distribution. Despite a 30% decline in TORM's share price due to market volatility, I am bullish on its long-term prospects. TORM's strategic initiatives, like the One TORM platform and fleet renewal, position it well against competitors and ensure operational efficiency. Growing global energy demand, especially in developing nations, underpins the continued relevance and profitability of TRMD's services. Read the full article on Seeking AlphaSeeking Alpha • Nov 20TORM: Making Sense Of The Collapse And What To Do From HereSummary Following a 30% decline since my Strong Buy recommendation, I reassess the situation among the rubble. Recent market fundamentals have been negative due to refinery maintenance and increased vessel supply through crude tankers cross-trading into the clean product market. The crude fleet looks to have retreated, but in doing so has depressed their own rates. Investors should monitor for this phenomenon in the future. There are still more positives than negatives across the short and medium terms, suggesting a recovery in tanker rates is in order. Read the full article on Seeking AlphaSeeking Alpha • Nov 12TORM plc: Double-Digit Yields And Attractive Discount To NAV (Rating Upgrade)Summary Considering the weaker seasonality, TORM plc delivered adequate results for 3Q24. YoY revenue grew by 3.9% while net income by 4.8%. TRMD has 59.4% Total Debt to Equity and 40.2% Total Liabilities to Total Assets. For 3Q24, gross interest payments were $18.4 million. In 3Q24, TORM agreed to acquire eight MR tankers built in 2014-2015. The company took delivery of six of the ships. TORM stock trades at a 77% PNAV and offers a 25% dividend yield. This is good enough for me, so TRMD found a place in my portfolio. Read the full article on Seeking AlphaDeclared Dividend • Nov 10Third quarter dividend of US$1.20 announcedShareholders will receive a dividend of US$1.20. Ex-date: 21st November 2024 Payment date: 4th December 2024 Dividend yield will be 24%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (73% earnings payout ratio) but not covered by cash flows (178% cash payout ratio). The dividend has increased by an average of 28% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to decline by 47% over the next 2 years. Since a fall of 19% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Reported Earnings • Nov 08Third quarter 2024 earnings released: EPS: US$1.38 (vs US$1.47 in 3Q 2023)Third quarter 2024 results: EPS: US$1.38. Revenue: US$372.1m (up 3.9% from 3Q 2023). Net income: US$130.5m (up 5.0% from 3Q 2023). Profit margin: 35% (in line with 3Q 2023). Revenue is expected to decline by 18% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.0%.お知らせ • Nov 08TORM plc, Annual General Meeting, Apr 16, 2025TORM plc, Annual General Meeting, Apr 16, 2025.お知らせ • Nov 07+ 3 more updatesTORM plc to Report Q3, 2025 Results on Nov 06, 2025TORM plc announced that they will report Q3, 2025 results on Nov 06, 2025Price Target Changed • Oct 29Price target decreased by 13% to US$40.00Down from US$46.00, the current price target is an average from 3 analysts. New target price is 52% above last closing price of US$26.30. Stock is down 13% over the past year. The company is forecast to post earnings per share of US$7.84 for next year compared to US$7.75 last year.Recent Insider Transactions • Oct 09CEO & Executive Director recently sold US$8.6m worth of stockOn the 4th of October, Jacob Meldgaard sold around 261k shares on-market at roughly US$32.82 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Jacob has been a net seller over the last 12 months, reducing personal holdings by US$24m.Seeking Alpha • Sep 1622% Yielding TORM: A Very Buyable Crash (Rating Upgrade)Summary Last week, TORM plc stock crashed as oil prices collapsed worldwide. As an oil tanker, TORM's business is impacted by the supply and demand for oil. However; it doesn't depend on high oil prices the same way that E&Ps do. The demand for oil and size of the tanker fleet are the more relevant factors here. TORM has been growing rapidly in recent years. The stock is nevertheless very cheap, so much so that it should deliver appreciation even if the growth slows to 0%. Read the full article on Seeking AlphaSeeking Alpha • Sep 07How Good Is TORM's 22% Yield?Summary TORM plc offers a high 22% dividend yield, but this is likely unsustainable long-term despite current profitability. The company has a growing fleet of 96 vessels, with an average age of 11-12 years, and a strong balance sheet. Geopolitical tensions have boosted product tanker rates, significantly increasing TORM's profits and enabling high dividends. Future dividend cuts are likely as profits are expected to decline, but TORM remains a solid investment, trading below net asset value. Read the full article on Seeking AlphaReported Earnings • Aug 16Second quarter 2024 earnings released: EPS: US$2.08 (vs US$2.23 in 2Q 2023)Second quarter 2024 results: EPS: US$2.08. Revenue: US$437.7m (up 14% from 2Q 2023). Net income: US$194.5m (up 4.7% from 2Q 2023). Profit margin: 44% (down from 48% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 19% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 1.8%.お知らせ • Aug 15+ 1 more updateTORM plc Approves Dividend for the Second Quarter 2024, Payable September 11, 2024TORM plc approved an interim dividend for the second quarter of 2024 of USD 1.80 per share to be paid to the shareholders corresponding to an expected total dividend payment of USD 169.8 Million. The distribution for the quarter is equivalent to 87% of net profit adjusted for profit from sale of vessels and reflects the Distribution Policy implemented this year. The payment date is 11 September 2024 to all shareholders of record as of 29 August 2024, and the ex-dividend date is 28 August 2024 for the shares listed on Nasdaq OMX Copenhagen and 29 August 2024 for the shares listed on Nasdaq New York.Seeking Alpha • Jul 25TORM: Still Making Cash, A 15% Yield, And More Room To RunSummary Refinery additions in 2023 are reaching full capacity, resulting in more supply entering the export market and increased demand for shipping. The 15% yield is well covered within current cash flows and has adequate levels of margin should shipping rates decline. The next 12-18 months look promising for shipping rates to remain high, ensuring large cash flows and dividends. I continue to rate TRMD a BUY. Read the full article on Seeking Alphaお知らせ • May 31TORM plc has filed a Follow-on Equity Offering.TORM plc has filed a Follow-on Equity Offering. Security Name: Class A Common Shares Security Type: Common Stock Securities Offered: 6,896,552Seeking Alpha • May 17TORM PLC: Check Out That 16% Forward YieldSummary TORM PLC is a tanker company that Brookfield's Oaktree Wealth Management owns a controlling stake in. The company has a rocky history, but now has the backing of two very well-run financial services companies. Its $1.50 dividend means that the stock has a 16% forward yield if the dividend doesn't get cut. High demand for oil and slow growth in tanker fleets argue that TRMD will perform well in the near term. In this article, I explain why I'm upgrading my TRMD rating to buy. Read the full article on Seeking AlphaNew Risk • May 13New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 47% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Minor Risks High level of debt (47% net debt to equity). Dividend is not well covered by cash flows (184% cash payout ratio). Shareholders have been diluted in the past year (13% increase in shares outstanding).Declared Dividend • May 10First quarter dividend increased to US$1.50Dividend of US$1.50 is 2.7% higher than last year. Ex-date: 21st May 2024 Payment date: 4th June 2024 Dividend yield will be 16%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (70% earnings payout ratio) but not covered by cash flows (226% cash payout ratio). The dividend has increased by an average of 28% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to decline by 67% over the next 3 years. Since a fall of 22% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Reported Earnings • May 09First quarter 2024 earnings released: EPS: US$2.34 (vs US$1.88 in 1Q 2023)First quarter 2024 results: EPS: US$2.34 (up from US$1.88 in 1Q 2023). Revenue: US$444.1m (up 14% from 1Q 2023). Net income: US$209.7m (up 37% from 1Q 2023). Profit margin: 47% (up from 39% in 1Q 2023). Revenue is expected to decline by 19% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 2.1%. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth.お知らせ • May 09+ 1 more updateTorm plc Revises Earnings Guidance for the Year 2024TORM plc revised earnings guidance for the year 2024. Based on the earnings realized in the first quarter of the year and the coverage achieved for the coming quarter TORM narrows its full-year guidance by increasing the low end of the guidance range, thus Time charter equivalent earnings (TCE) earnings are expected to be in the range of USD 1.1 - 1.35bn (previous outlook: USD 1.0 - 1.35bn).Seeking Alpha • May 01TORM Stock Is Still Cheap And Well PositionedSummary TORM plc's stock has risen by 62.64% since I upgraded it to "Buy" in July 2023. But it's still undervalued and well positioned, in my view - read on. The product tanker market is expected to experience increased demand and a decrease in supply, leading to favorable conditions for maintaining high rates. TORM's financial position and dividend payout coverage should remain strong for at least the next 2 years. Despite its higher valuation compared to peers, TORM plc presents a substantial total return potential, with my calculations suggesting an upside of 18%, not counting the 16.5% dividend yield. I therefore reiterate my previous "Buy" rating. Read the full article on Seeking Alphaお知らせ • Apr 11TORM plc Approves a Final Dividend for the Year Ended 31 December 2023TORM plc approved a final dividend of USD 1.36 per A-share for the year ended 31 December 2023.Upcoming Dividend • Apr 08Upcoming dividend of US$1.36 per shareEligible shareholders must have bought the stock before 15 April 2024. Payment date: 24 April 2024. Payout ratio is a comfortable 75% but the company is paying out more than the cash it is generating. Trailing yield: 16%. Within top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.8%).Seeking Alpha • Mar 27TORM plc: A Luring Dividend Yield And Skewed Risk Reward (Rating Downgrade)Summary TORM plc delivered record-high figures FY23: $1,520 million in revenue, $1,084 TCE earnings, and $846 million adj. EBITDA. The company pays dividends with excellent yield: 16.2% FWD yield and 20.9% TTM yield. For 4Q23, TRMD will distribute a dividend of $1.36/share. Considering the shipping investors' triad (fleet quality, PNAV, and LTV), TRMD is expensive. TORM plc is a great stock pick for income-minded investors; however, the risk-reward at the current price is not skewed in investors’ favor. My verdict is a hold rating. Read the full article on Seeking Alphaお知らせ • Mar 08TORM plc Provides Earnings Guidance for the Year 2024TORM plc provided earnings guidance for the year 2024. For the full year 2024, TCE earnings are expected to be in the range of USD 1.0 billion – 1.35 billion.Reported Earnings • Mar 08Full year 2023 earnings released: EPS: US$7.75 (vs US$6.92 in FY 2022)Full year 2023 results: EPS: US$7.75 (up from US$6.92 in FY 2022). Revenue: US$1.52b (up 5.3% from FY 2022). Net income: US$648.3m (up 15% from FY 2022). Profit margin: 43% (up from 39% in FY 2022). Revenue is expected to decline by 21% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 1.8%. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth.お知らせ • Mar 07TORM plc Recommends Final Dividend for the Financial Year Ended 31 December 2023, Payable on 24 April 2024According to the TORM plc’s Distribution Policy, the Company intends to declare a quarterly dividend based on the cash position at the end of each quarter. The Board is recommending a final dividend for the financial year ended 31 December 2023 of USD 1.36 per A-share. When taking into account share issuances that are expected to take place prior to the dividend record date, this is expected to equate to an aggregate dividend payment of USD 126.3 million. This dividend is expected to be paid on 24 April 2024 to all shareholders appearing on the register of members as of 16 April 2024. The payment of the dividend is not conditional on the proposed Capital Reduction.Seeking Alpha • Feb 13My TORM Pick In 2021 Smoked All Big Tech GainsSummary TORM plc has experienced a total return of +523% over 37 months, outperforming each of the "Magnificent 7" Big Tech companies. The deep-value TORM proposition no longer exists, but shares remain an investible idea with a high dividend yield. Many successful long-term investors search for underfollowed or unwanted stock names selling at steep discounts to underlying net assets. Read the full article on Seeking AlphaPrice Target Changed • Jan 24Price target increased by 7.7% to US$42.00Up from US$39.00, the current price target is an average from 3 analysts. New target price is 17% above last closing price of US$35.97. Stock is up 50% over the past year. The company is forecast to post earnings per share of US$7.44 for next year compared to US$6.92 last year.お知らせ • Jan 19TORM plc has completed a Follow-on Equity Offering in the amount of $19.100624 million.TORM plc has completed a Follow-on Equity Offering in the amount of $19.100624 million. Security Name: Class A shares Security Type: Common Stock Securities Offered: 616,746 Price\Range: $30.97Seeking Alpha • Jan 10TORM: Still Great Value To Be UnlockedSummary TORM plc is one of the world's largest transporters of refined oil products, operating in various vessel segments from Medium Range to Long Range 2 tankers. In 9M 2023, TORM achieved historically high financial results, despite a temporary decline in freight rates during the summer. I think it's good that TORM is trying to optimize its fleet in advance and rejuvenate its average age. If we assume that TRMD's EBITDA will fall by as much as 20-40% in FY2025, we will still receive a double-digit dividend yield with the current dividend policy. I rate the stock as a 'Buy' again this time. Read the full article on Seeking Alphaお知らせ • Dec 02+ 4 more updatesTORM plc to Report Q3, 2024 Results on Nov 07, 2024TORM plc announced that they will report Q3, 2024 results on Nov 07, 2024Recent Insider Transactions • Nov 18CEO & Executive Director recently sold US$31m worth of stockOn the 14th of November, Jacob Meldgaard sold around 507k shares on-market at roughly US$60.54 per share. This transaction amounted to 99% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jacob's only on-market trade for the last 12 months.Upcoming Dividend • Nov 14Upcoming dividend of US$1.46 per share at 19% yieldEligible shareholders must have bought the stock before 21 November 2023. Payment date: 05 December 2023. Payout ratio is on the higher end at 84%, and the cash payout ratio is above 100%. Trailing yield: 19%. Within top quartile of American dividend payers (5.2%). Higher than average of industry peers (4.6%).New Risk • Nov 13New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Minor Risks High level of debt (54% net debt to equity). Dividend is not well covered by cash flows (104% cash payout ratio). Shareholders have been diluted in the past year (3.4% increase in shares outstanding).お知らせ • Nov 12Torm plc Revises Earnings Guidance for the Full-Year 2023TORM plc revised earnings guidance for the full-year 2023. For the year, TCE earnings are expected to be in the range of USD 1,075 million -1,125 million (previous outlook: USD 1,050 million -1,175 million).お知らせ • Nov 11TORM plc Approves Interim Dividend for the Third Quarter of 2023, Payable on 05 December 2023TORM plc Board of Directors has approved an interim dividend for Third Quarter 2023 of USD 1.46 per share, resulting in an expected total dividend payment of USD 123.2m. The payment date is 05 December 2023 while the ex-dividend date is 21 November 2023, and the record date is 22 November 2023.Reported Earnings • Nov 10Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: US$358.1m (down 20% from 3Q 2022). Net income: US$124.3m (down 43% from 3Q 2022). Profit margin: 35% (down from 48% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to decline by 15% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 63% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Nov 07Now 21% undervaluedOver the last 90 days, the stock is up 15%. The fair value is estimated to be US$38.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 69%. Revenue is forecast to decline by 41% in 2 years. Earnings is forecast to decline by 52% in the next 2 years.Reported Earnings • Aug 18Second quarter 2023 earnings released: EPS: US$2.23 (vs US$1.31 in 2Q 2022)Second quarter 2023 results: EPS: US$2.23 (up from US$1.31 in 2Q 2022). Revenue: US$384.3m (up 14% from 2Q 2022). Net income: US$185.8m (up 74% from 2Q 2022). Profit margin: 48% (up from 32% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is expected to fall by 30% p.a. on average during the next 3 years compared to a 2.3% decline forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth.お知らせ • Aug 18+ 1 more updateTORM plc Provides Earnings Guidance for the Full Year 2023TORM plc provided earnings guidance for the full year 2023. For the year, the company expected TCE earnings to be in the range of USD 1,050 million to USD 1,175 million (previous outlook: USD 1,025 million to 1,375 million).Board Change • Jun 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Employee Representative Board Observer Christian Gorrissen was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.Upcoming Dividend • May 15Upcoming dividend of US$1.46 per share at 16% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 06 June 2023. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 16%. Within top quartile of American dividend payers (5.2%). Higher than average of industry peers (4.9%).Price Target Changed • May 13Price target decreased by 9.8% to US$37.00Down from US$41.00, the current price target is an average from 3 analysts. New target price is 33% above last closing price of US$27.73. Stock is up 127% over the past year. The company is forecast to post earnings per share of US$7.83 for next year compared to US$6.92 last year.お知らせ • May 12TORM plc Reaffirms Earnings Guidance for the Year 2023TORM plc reaffirmed earnings guidance for the year 2023. For the full year 2023, the company earnings are expected to be in the range of USD 1,025 million to USD 1,375 million (unchanged from the outlook released on 16 March 2023).収支内訳TORM の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史NasdaqGS:TRMD 収益、費用、利益 ( )USD Millions日付収益収益G+A経費研究開発費31 Dec 251,340285114030 Sep 251,292276100030 Jun 251,32232996031 Mar 251,44446595031 Dec 241,55961396030 Sep 241,64271997030 Jun 241,62871393031 Mar 241,57470492031 Dec 231,52064883030 Sep 231,58069274030 Jun 231,67078569031 Mar 231,62470659031 Dec 221,44356355030 Sep 221,18532652030 Jun 228939451031 Mar 22705-1051031 Dec 21620-4252030 Sep 21547-7452030 Jun 21552-5952031 Mar 216291051031 Dec 207478851030 Sep 2082427550030 Jun 2081026549031 Mar 2074919949031 Dec 1969316648030 Sep 196681848030 Jun 19662248031 Mar 19659-1248031 Dec 18635-3548030 Sep 18638-2948030 Jun 18653-947031 Mar 18647-147031 Dec 17657245030 Sep 17639-19142030 Jun 17639-18542031 Mar 17659-16941031 Dec 16680-14241030 Sep 167137442030 Jun 1677213741031 Mar 1666714230031 Dec 1554012619030 Sep 1541910990質の高い収益: TRMDは 高品質の収益 を持っています。利益率の向上: TRMDの現在の純利益率 (21.3%)は、昨年(39.3%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: TRMDの収益は過去 5 年間で年間30%増加しました。成長の加速: TRMDは過去 1 年間の収益成長がマイナスであったため、5 年間の平均と比較することはできません。収益対業界: TRMDは過去 1 年間で収益成長率がマイナス ( -53.4% ) となったため、 Oil and Gas業界平均 ( -4.3% ) と比較することが困難です。株主資本利益率高いROE: TRMDの 自己資本利益率 ( 13% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YEnergy 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/07 19:30終値2026/05/07 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋TORM plc 3 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。7 アナリスト機関null nullABG Sundal CollierMarcus BellanderCarnegie Investment Bank ABHåvard LieDanske Bank4 その他のアナリストを表示
Reported Earnings • Feb 27Full year 2025 earnings released: EPS: US$2.91 (vs US$6.54 in FY 2024)Full year 2025 results: EPS: US$2.91 (down from US$6.54 in FY 2024). Revenue: US$1.34b (down 14% from FY 2024). Net income: US$285.3m (down 53% from FY 2024). Profit margin: 21% (down from 39% in FY 2024). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 18% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
お知らせ • Dec 19+ 3 more updatesTORM plc to Report First Half, 2026 Results on Aug 26, 2026TORM plc announced that they will report first half, 2026 results on Aug 26, 2026
Reported Earnings • Nov 06Third quarter 2025 earnings released: EPS: US$0.79 (vs US$1.38 in 3Q 2024)Third quarter 2025 results: EPS: US$0.79 (down from US$1.38 in 3Q 2024). Revenue: US$342.6m (down 7.9% from 3Q 2024). Net income: US$77.6m (down 41% from 3Q 2024). Profit margin: 23% (down from 35% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is expected to decline by 28% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.2%. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: US$0.60 (vs US$2.08 in 2Q 2024)Second quarter 2025 results: EPS: US$0.60 (down from US$2.08 in 2Q 2024). Revenue: US$315.2m (down 28% from 2Q 2024). Net income: US$58.6m (down 70% from 2Q 2024). Profit margin: 19% (down from 44% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 26% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.9%. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
Reported Earnings • May 09First quarter 2025 earnings released: EPS: US$0.64 (vs US$2.34 in 1Q 2024)First quarter 2025 results: EPS: US$0.64 (down from US$2.34 in 1Q 2024). Revenue: US$329.1m (down 26% from 1Q 2024). Net income: US$62.3m (down 70% from 1Q 2024). Profit margin: 19% (down from 47% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 27% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.7%. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 06Full year 2024 earnings released: EPS: US$6.54 (vs US$7.75 in FY 2023)Full year 2024 results: EPS: US$6.54 (down from US$7.75 in FY 2023). Revenue: US$1.56b (up 2.6% from FY 2023). Net income: US$612.5m (down 5.5% from FY 2023). Profit margin: 39% (down from 43% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 28% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth.
Buy Or Sell Opportunity • Apr 14Now 22% undervaluedOver the last 90 days, the stock has risen 27% to US$29.50. The fair value is estimated to be US$37.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has declined by 30%. For the next 3 years, revenue is forecast to decline by 14% per annum. Earnings are also forecast to decline by 17% per annum over the same time period.
Valuation Update With 7 Day Price Move • Mar 12Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to US$24.64, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Oil and Gas industry in the US. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$38.09 per share.
Declared Dividend • Mar 02Fourth quarter dividend of US$0.70 announcedShareholders will receive a dividend of US$0.70. Ex-date: 12th March 2026 Payment date: 25th March 2026 Dividend yield will be 6.9%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (73% earnings payout ratio) but not covered by cash flows (114% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 56% over the next 3 years. Since a fall of 19% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Reported Earnings • Feb 27Full year 2025 earnings released: EPS: US$2.91 (vs US$6.54 in FY 2024)Full year 2025 results: EPS: US$2.91 (down from US$6.54 in FY 2024). Revenue: US$1.34b (down 14% from FY 2024). Net income: US$285.3m (down 53% from FY 2024). Profit margin: 21% (down from 39% in FY 2024). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 18% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 26+ 1 more updateTORM plc Announces Interim Dividend for the Fourth Quarter of 2025, Payable on 25 March 2026TORM plc announced that the Board of Directors has approved an interim dividend for the fourth quarter of 2025 of USD 0.70 per share to be paid to the shareholders, corresponding to an expected total dividend payment of USD 70.9 million. The payment date is 25 March 2026 to all shareholders on record as of 12 March 2026, and the ex-dividend date is 11 March 2026 for the shares listed on Nasdaq OMX Copenhagen and 12 March 2026 for the shares listed on Nasdaq New York.
Price Target Changed • Jan 29Price target increased by 14% to US$27.00Up from US$23.67, the current price target is an average from 3 analysts. New target price is 11% above last closing price of US$24.30. Stock is up 22% over the past year. The company is forecast to post earnings per share of US$2.88 for next year compared to US$6.54 last year.
Board Change • Jan 08Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Annette Beate Wacknitz Justad was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Jan 07TORM plc Announces Departure of Deputy Chairman and Senior Independent Director David Weinstein and Board Structure Changes, Effective January 6, 2026TORM plc announced that as the ownership stake held by Oaktree Capital Management, L.P. and its affiliates is now below the one-third threshold, the position and authority of the B-Director is extinguished. As a result, Deputy Chairman and Senior Independent Director, David Weinstein, will leave the Board effective as of January 6, 2026. Upon his departure from the Board, the Company has retained Mr. Weinstein in an ongoing capacity as a Special Advisor to the Board. The limitations on TORM plc's actions set out in Article 137 stop having effect immediately at the threshold date and no approvals will be needed other than any provided under the legislation for any reserved matter after that time. The B- and C-shares are in the process of being redeemed and cancelled in accordance with the Articles and no further B- or C-shares can then be issued. The C-share right to vote 350,000,000 shares has ceased as from the threshold date. The right of the B-share to one vote continues until it is redeemed. Therefore, from the threshold date, the voting rights are 101,332,707 A-shares and one B-share, each with one vote per share. After the redemption/cancellation, TORM plc's share capital will amount to USD 1,013,327.07 dividend into 101,332,707 A-shares of USD 0.01 each.
Seeking Alpha • Jan 06TORM: Trading At A Discount And With A Merger In The Making (Rating Upgrade)Summary TORM plc is upgraded to 'Buy' following Hafnia's 13D filing and acquisition interest. TRMD trades below its $24 NAV per share, presenting a 20% upside, and historically commands a premium. The company maintains strong operational performance, generous dividends, and a solid balance sheet with 25% leverage. Read the full article on Seeking Alpha
お知らせ • Dec 24Hafnia Limited (OB:HAFNI) completed the acquisition of 13.97% stake in TORM plc (CPSE:TRMD A) from Oaktree Capital Management, L.P. and and its affiliates.Hafnia Limited (OB:HAFNI) enters into a preliminary agreement to acquire 14.45% stake in TORM plc (CPSE:TRMD A) from Oaktree Capital Management, L.P. and and its affiliates for approximately $310 million on September 3, 2025. Hafnia Limited entered into a binding share purchase agreement to acquire 14.45% stake in TORM plc on September 11, 2025. A cash consideration valued at $22 per share will be paid by Hafnia Limited. The Announcement notes that completion of the Share Purchase is subject to entry into a definitive agreement and the fulfilment of customary conditions precedent, including among others, obtaining any required regulatory clearances and approvals, the satisfaction of certain covenants, The appointment of a new independent board chairman of TORM and approval of the Transaction by the Administrative Council for Economic Defense (Conselho Administrativo de Defesa Econômica – CADE) in Brazil. As of December 18, 2025, all conditions precedent required for the completion of Hafnia’s acquisition of approximately 14.1 million A-shares in TORM plc have been satisfied. Since September 11, 2025, TORM has announced to have increased its issued share capital by 3,380,278 new A-shares. Consequently, Hafnia’s acquisition of approximately 14.1 million A-shares will represent approximately 13.97% of TORM’s issued share capital as per the date hereof. Upon completion, Hafnia will hold approximately 13.97% of the issued share capital of TORM. Completion of the acquisition is expected to take place shortly. Dan Schuster-Woldan, Matthew Hearn, Ross Ferguson, Christopher J. Cummings, Deeksha Rathi of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Oaktree Capital Management, L.P., and its affiliates in the sale of stake in TORM. Henrik Laursen, Janus Jepsen, Peter E. Stassen, Lise Aaby Nielsen, Lynge Daugaard Jensen of Plesner Advokatpartnerselskab acted as legal advisor to Hafnia Limited. Hafnia Limited (OB:HAFNI) completed the acquisition of 13.97% stake in TORM plc (CPSE:TRMD A) from Oaktree Capital Management, L.P. and and its affiliates on December 22, 2025.
Recent Insider Transactions • Dec 23CEO & Executive Director recently sold US$2.6m worth of stockOn the 19th of December, Jacob Meldgaard sold around 132k shares on-market at roughly US$20.03 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jacob's only on-market trade for the last 12 months.
お知らせ • Dec 20TORM plc, Annual General Meeting, Apr 15, 2026TORM plc, Annual General Meeting, Apr 15, 2026.
お知らせ • Dec 19+ 3 more updatesTORM plc to Report First Half, 2026 Results on Aug 26, 2026TORM plc announced that they will report first half, 2026 results on Aug 26, 2026
Price Target Changed • Nov 20Price target increased by 7.0% to US$25.33Up from US$23.67, the current price target is an average from 2 analysts. New target price is 11% above last closing price of US$22.88. Stock is down 3.9% over the past year. The company is forecast to post earnings per share of US$2.88 for next year compared to US$6.54 last year.
Declared Dividend • Nov 09Third quarter dividend of US$0.62 announcedShareholders will receive a dividend of US$0.62. Ex-date: 20th November 2025 Payment date: 3rd December 2025 Dividend yield will be 8.9%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not covered by earnings (180% earnings payout ratio) nor is it covered by cash flows (203% cash payout ratio). The dividend has increased by an average of 23% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 100% to bring the payout ratio under control. However, EPS is expected to decline by 57% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
お知らせ • Nov 07+ 1 more updateTORM plc Increases Earnings Guidance for the Full Year of 2025TORM plc increased earnings guidance for the full year of 2025. For the period, TCE earnings are expected to be in the range of USD 875 million - USD 925 million (previous guidance USD 800 million - USD 950 million).
Reported Earnings • Nov 06Third quarter 2025 earnings released: EPS: US$0.79 (vs US$1.38 in 3Q 2024)Third quarter 2025 results: EPS: US$0.79 (down from US$1.38 in 3Q 2024). Revenue: US$342.6m (down 7.9% from 3Q 2024). Net income: US$77.6m (down 41% from 3Q 2024). Profit margin: 23% (down from 35% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is expected to decline by 28% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.2%. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
Price Target Changed • Oct 02Price target increased by 8.3% to US$25.27Up from US$23.33, the current price target is an average from 2 analysts. New target price is 19% above last closing price of US$21.30. Stock is down 36% over the past year. The company is forecast to post earnings per share of US$3.07 for next year compared to US$6.54 last year.
Declared Dividend • Aug 17Second quarter dividend of US$0.40 announcedShareholders will receive a dividend of US$0.40. Ex-date: 22nd August 2025 Payment date: 3rd September 2025 Dividend yield will be 13%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not covered by earnings (149% earnings payout ratio) nor is it covered by cash flows (221% cash payout ratio). The dividend has increased by an average of 23% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 66% to bring the payout ratio under control. However, EPS is expected to decline by 38% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio.
お知らせ • Aug 16+ 1 more updateTorm plc Approves Interim Dividend for Second Quarter of 2025, Payable on 3 September 2025The Board of Directors of TORM plc have approved an interim dividend for the second quarter of 2025 of USD 0.40 per share to be paid to the shareholders corresponding to an expected total dividend payment of USD 39.2 million. The distribution for the quarter is equivalent to 67% of net profit and reflects the Distribution Policy. The payment date is 3 September 2025 to all shareholders on record as of 22 August 2025, and the ex-dividend date is 21 August 2025 for the shares listed on Nasdaq OMX Copenhagen and 22 August 2025 for the shares listed on Nasdaq New York.
Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: US$0.60 (vs US$2.08 in 2Q 2024)Second quarter 2025 results: EPS: US$0.60 (down from US$2.08 in 2Q 2024). Revenue: US$315.2m (down 28% from 2Q 2024). Net income: US$58.6m (down 70% from 2Q 2024). Profit margin: 19% (down from 44% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 26% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.9%. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
お知らせ • Jun 04TORM plc (CPSE:TRMD A) acquired remaining 25% stake in ME Production A/S from Jens Peter Faldt.TORM plc (CPSE:TRMD A) acquired remaining 25% stake in ME Production A/S from Jens Peter Faldt on June 3, 2025. TORM plc (CPSE:TRMD A) Completed the acquisition of remaining 25% stake in ME Production A/S from Jens Peter Faldt on June 3, 2025.
Declared Dividend • May 11Dividend of US$0.40 announcedShareholders will receive a dividend of US$0.40. Ex-date: 22nd May 2025 Payment date: 4th June 2025 Dividend yield will be 24%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not covered by earnings (105% earnings payout ratio) nor is it covered by cash flows (141% cash payout ratio). The dividend has increased by an average of 23% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 16% to bring the payout ratio under control. However, EPS is expected to decline by 50% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio.
Reported Earnings • May 09First quarter 2025 earnings released: EPS: US$0.64 (vs US$2.34 in 1Q 2024)First quarter 2025 results: EPS: US$0.64 (down from US$2.34 in 1Q 2024). Revenue: US$329.1m (down 26% from 1Q 2024). Net income: US$62.3m (down 70% from 1Q 2024). Profit margin: 19% (down from 47% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 27% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.7%. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
お知らせ • May 09+ 1 more updateTORM plc Narrows Earnings Guidance for the Full Year of 2025TORM plc narrowed earnings guidance for the full year of 2025. Based on the earnings realized in the first quarter of the year as well as the coverage for the remaining part of the year, the company narrows the full-year 2025 guidance. Thus, TCE earnings are expected to be in the range of USD 700 million to USD 900 million (2024: USD 1,135 million).
Recent Insider Transactions • Apr 04Non-Executive Independent Director recently sold US$45k worth of stockOn the 1st of April, Annette Beate Wacknitz Justad sold around 3k shares on-market at roughly US$16.51 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$8.8m more than they bought in the last 12 months.
Upcoming Dividend • Mar 13Upcoming dividend of US$0.60 per shareEligible shareholders must have bought the stock before 20 March 2025. Payment date: 02 April 2025. Payout ratio is on the higher end at 78%, and the cash payout ratio is above 100%. Trailing yield: 28%. Within top quartile of American dividend payers (4.7%). Higher than average of industry peers (4.0%).
Seeking Alpha • Mar 07TORM Beats Q4 Earnings, I'll Stay Long For NowSummary TORM plc just released its fourth quarter earnings and surpassed estimates. The release beat on revenue and EPS. TORM plc stock is dirt cheap, trading at just 2.3 times reported earnings and 1.9 times cash flow. Although many tanker deliveries are expected this year, the amount of them should be manageable. In this article I explore why I'm slightly bullish on TORM at today's price. Read the full article on Seeking Alpha
Reported Earnings • Mar 06Full year 2024 earnings released: EPS: US$6.54 (vs US$7.75 in FY 2023)Full year 2024 results: EPS: US$6.54 (down from US$7.75 in FY 2023). Revenue: US$1.56b (up 2.6% from FY 2023). Net income: US$612.5m (down 5.5% from FY 2023). Profit margin: 39% (down from 43% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 28% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth.
お知らせ • Mar 06+ 1 more updateTorm plc Provides Earnings Guidance for the Year 2025TORM plc provided earnings guidance for the year 2025. For the full year 2025, TCE earnings are expected to be in the range of USD 650 million - 950 million (2024: USD 1,135m).
Seeking Alpha • Feb 22TORM: Time To Buy After The 50% Drawdown, Earnings On TapSummary I am upgrading TORM Plc to a buy due to attractive valuation and key technical support, despite a softer operating environment and geopolitical risks. TORM's Q3 results were strong with EPS of $1.35 beating estimates, but full-year guidance was lowered due to geopolitical uncertainties and asset pricing concerns. Key risks include potential easing of Red Sea disruptions, weaker global trade, and higher geopolitical tensions, but bullish seasonality and low P/E offer upside potential. Shares are near key $16 support with a bullish RSI divergence, indicating a possible bottoming process ahead of the Q4 earnings report. Read the full article on Seeking Alpha
Seeking Alpha • Jan 21TORM: A Unique Combination Of Geopolitical Turmoil, Economics, And BalanceSummary Russian sanctions will remove a significant number of crude tankers from the market. This opens the refined product trade to benefit from cannibalization of the crude market and removal of LR2 capacity. Peace agreements between Israel and the Hamas could allow the Red Sea to eventually reopen, removing ton-miles from the global fleet. I believe both of these events will largely be offsetting, creating what appears to be continued balance in the market. TRMD's stock price now trades below NAV, creating value for shareholders. Read the full article on Seeking Alpha
Seeking Alpha • Jan 15TORM's 20% Dividend Yield And Market Tailwinds Make It A 'Buy'Summary TORM's recent stock weakness, in my view, is a buying opportunity, as the key factors behind its post-2018 rebound should persist for the next 2-3 years. Strong Q3 performance with $263M TCE earnings, $191M EBITDA, and 20.3% ROIC, showcasing resilience in a volatile market. Structural industry dynamics, like an aging global fleet and limited newbuilds, support sustained high TCE rates and earnings growth. TRMD might have an undervaluation of ~45.4% to its current stock price. Hence, my "Buy" rating reiteration on TRMD stock today. Read the full article on Seeking Alpha
Seeking Alpha • Dec 12TORM Stock Could Be A Great Value Investment For The Next Few YearsSummary The global energy sector is evolving, but traditional energy sources remain crucial; TORM plc's tanker fleet is vital for global energy distribution. Despite a 30% decline in TORM's share price due to market volatility, I am bullish on its long-term prospects. TORM's strategic initiatives, like the One TORM platform and fleet renewal, position it well against competitors and ensure operational efficiency. Growing global energy demand, especially in developing nations, underpins the continued relevance and profitability of TRMD's services. Read the full article on Seeking Alpha
Seeking Alpha • Nov 20TORM: Making Sense Of The Collapse And What To Do From HereSummary Following a 30% decline since my Strong Buy recommendation, I reassess the situation among the rubble. Recent market fundamentals have been negative due to refinery maintenance and increased vessel supply through crude tankers cross-trading into the clean product market. The crude fleet looks to have retreated, but in doing so has depressed their own rates. Investors should monitor for this phenomenon in the future. There are still more positives than negatives across the short and medium terms, suggesting a recovery in tanker rates is in order. Read the full article on Seeking Alpha
Seeking Alpha • Nov 12TORM plc: Double-Digit Yields And Attractive Discount To NAV (Rating Upgrade)Summary Considering the weaker seasonality, TORM plc delivered adequate results for 3Q24. YoY revenue grew by 3.9% while net income by 4.8%. TRMD has 59.4% Total Debt to Equity and 40.2% Total Liabilities to Total Assets. For 3Q24, gross interest payments were $18.4 million. In 3Q24, TORM agreed to acquire eight MR tankers built in 2014-2015. The company took delivery of six of the ships. TORM stock trades at a 77% PNAV and offers a 25% dividend yield. This is good enough for me, so TRMD found a place in my portfolio. Read the full article on Seeking Alpha
Declared Dividend • Nov 10Third quarter dividend of US$1.20 announcedShareholders will receive a dividend of US$1.20. Ex-date: 21st November 2024 Payment date: 4th December 2024 Dividend yield will be 24%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (73% earnings payout ratio) but not covered by cash flows (178% cash payout ratio). The dividend has increased by an average of 28% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to decline by 47% over the next 2 years. Since a fall of 19% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Reported Earnings • Nov 08Third quarter 2024 earnings released: EPS: US$1.38 (vs US$1.47 in 3Q 2023)Third quarter 2024 results: EPS: US$1.38. Revenue: US$372.1m (up 3.9% from 3Q 2023). Net income: US$130.5m (up 5.0% from 3Q 2023). Profit margin: 35% (in line with 3Q 2023). Revenue is expected to decline by 18% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.0%.
お知らせ • Nov 08TORM plc, Annual General Meeting, Apr 16, 2025TORM plc, Annual General Meeting, Apr 16, 2025.
お知らせ • Nov 07+ 3 more updatesTORM plc to Report Q3, 2025 Results on Nov 06, 2025TORM plc announced that they will report Q3, 2025 results on Nov 06, 2025
Price Target Changed • Oct 29Price target decreased by 13% to US$40.00Down from US$46.00, the current price target is an average from 3 analysts. New target price is 52% above last closing price of US$26.30. Stock is down 13% over the past year. The company is forecast to post earnings per share of US$7.84 for next year compared to US$7.75 last year.
Recent Insider Transactions • Oct 09CEO & Executive Director recently sold US$8.6m worth of stockOn the 4th of October, Jacob Meldgaard sold around 261k shares on-market at roughly US$32.82 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Jacob has been a net seller over the last 12 months, reducing personal holdings by US$24m.
Seeking Alpha • Sep 1622% Yielding TORM: A Very Buyable Crash (Rating Upgrade)Summary Last week, TORM plc stock crashed as oil prices collapsed worldwide. As an oil tanker, TORM's business is impacted by the supply and demand for oil. However; it doesn't depend on high oil prices the same way that E&Ps do. The demand for oil and size of the tanker fleet are the more relevant factors here. TORM has been growing rapidly in recent years. The stock is nevertheless very cheap, so much so that it should deliver appreciation even if the growth slows to 0%. Read the full article on Seeking Alpha
Seeking Alpha • Sep 07How Good Is TORM's 22% Yield?Summary TORM plc offers a high 22% dividend yield, but this is likely unsustainable long-term despite current profitability. The company has a growing fleet of 96 vessels, with an average age of 11-12 years, and a strong balance sheet. Geopolitical tensions have boosted product tanker rates, significantly increasing TORM's profits and enabling high dividends. Future dividend cuts are likely as profits are expected to decline, but TORM remains a solid investment, trading below net asset value. Read the full article on Seeking Alpha
Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: US$2.08 (vs US$2.23 in 2Q 2023)Second quarter 2024 results: EPS: US$2.08. Revenue: US$437.7m (up 14% from 2Q 2023). Net income: US$194.5m (up 4.7% from 2Q 2023). Profit margin: 44% (down from 48% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 19% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 1.8%.
お知らせ • Aug 15+ 1 more updateTORM plc Approves Dividend for the Second Quarter 2024, Payable September 11, 2024TORM plc approved an interim dividend for the second quarter of 2024 of USD 1.80 per share to be paid to the shareholders corresponding to an expected total dividend payment of USD 169.8 Million. The distribution for the quarter is equivalent to 87% of net profit adjusted for profit from sale of vessels and reflects the Distribution Policy implemented this year. The payment date is 11 September 2024 to all shareholders of record as of 29 August 2024, and the ex-dividend date is 28 August 2024 for the shares listed on Nasdaq OMX Copenhagen and 29 August 2024 for the shares listed on Nasdaq New York.
Seeking Alpha • Jul 25TORM: Still Making Cash, A 15% Yield, And More Room To RunSummary Refinery additions in 2023 are reaching full capacity, resulting in more supply entering the export market and increased demand for shipping. The 15% yield is well covered within current cash flows and has adequate levels of margin should shipping rates decline. The next 12-18 months look promising for shipping rates to remain high, ensuring large cash flows and dividends. I continue to rate TRMD a BUY. Read the full article on Seeking Alpha
お知らせ • May 31TORM plc has filed a Follow-on Equity Offering.TORM plc has filed a Follow-on Equity Offering. Security Name: Class A Common Shares Security Type: Common Stock Securities Offered: 6,896,552
Seeking Alpha • May 17TORM PLC: Check Out That 16% Forward YieldSummary TORM PLC is a tanker company that Brookfield's Oaktree Wealth Management owns a controlling stake in. The company has a rocky history, but now has the backing of two very well-run financial services companies. Its $1.50 dividend means that the stock has a 16% forward yield if the dividend doesn't get cut. High demand for oil and slow growth in tanker fleets argue that TRMD will perform well in the near term. In this article, I explain why I'm upgrading my TRMD rating to buy. Read the full article on Seeking Alpha
New Risk • May 13New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 47% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Minor Risks High level of debt (47% net debt to equity). Dividend is not well covered by cash flows (184% cash payout ratio). Shareholders have been diluted in the past year (13% increase in shares outstanding).
Declared Dividend • May 10First quarter dividend increased to US$1.50Dividend of US$1.50 is 2.7% higher than last year. Ex-date: 21st May 2024 Payment date: 4th June 2024 Dividend yield will be 16%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (70% earnings payout ratio) but not covered by cash flows (226% cash payout ratio). The dividend has increased by an average of 28% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to decline by 67% over the next 3 years. Since a fall of 22% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Reported Earnings • May 09First quarter 2024 earnings released: EPS: US$2.34 (vs US$1.88 in 1Q 2023)First quarter 2024 results: EPS: US$2.34 (up from US$1.88 in 1Q 2023). Revenue: US$444.1m (up 14% from 1Q 2023). Net income: US$209.7m (up 37% from 1Q 2023). Profit margin: 47% (up from 39% in 1Q 2023). Revenue is expected to decline by 19% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 2.1%. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth.
お知らせ • May 09+ 1 more updateTorm plc Revises Earnings Guidance for the Year 2024TORM plc revised earnings guidance for the year 2024. Based on the earnings realized in the first quarter of the year and the coverage achieved for the coming quarter TORM narrows its full-year guidance by increasing the low end of the guidance range, thus Time charter equivalent earnings (TCE) earnings are expected to be in the range of USD 1.1 - 1.35bn (previous outlook: USD 1.0 - 1.35bn).
Seeking Alpha • May 01TORM Stock Is Still Cheap And Well PositionedSummary TORM plc's stock has risen by 62.64% since I upgraded it to "Buy" in July 2023. But it's still undervalued and well positioned, in my view - read on. The product tanker market is expected to experience increased demand and a decrease in supply, leading to favorable conditions for maintaining high rates. TORM's financial position and dividend payout coverage should remain strong for at least the next 2 years. Despite its higher valuation compared to peers, TORM plc presents a substantial total return potential, with my calculations suggesting an upside of 18%, not counting the 16.5% dividend yield. I therefore reiterate my previous "Buy" rating. Read the full article on Seeking Alpha
お知らせ • Apr 11TORM plc Approves a Final Dividend for the Year Ended 31 December 2023TORM plc approved a final dividend of USD 1.36 per A-share for the year ended 31 December 2023.
Upcoming Dividend • Apr 08Upcoming dividend of US$1.36 per shareEligible shareholders must have bought the stock before 15 April 2024. Payment date: 24 April 2024. Payout ratio is a comfortable 75% but the company is paying out more than the cash it is generating. Trailing yield: 16%. Within top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.8%).
Seeking Alpha • Mar 27TORM plc: A Luring Dividend Yield And Skewed Risk Reward (Rating Downgrade)Summary TORM plc delivered record-high figures FY23: $1,520 million in revenue, $1,084 TCE earnings, and $846 million adj. EBITDA. The company pays dividends with excellent yield: 16.2% FWD yield and 20.9% TTM yield. For 4Q23, TRMD will distribute a dividend of $1.36/share. Considering the shipping investors' triad (fleet quality, PNAV, and LTV), TRMD is expensive. TORM plc is a great stock pick for income-minded investors; however, the risk-reward at the current price is not skewed in investors’ favor. My verdict is a hold rating. Read the full article on Seeking Alpha
お知らせ • Mar 08TORM plc Provides Earnings Guidance for the Year 2024TORM plc provided earnings guidance for the year 2024. For the full year 2024, TCE earnings are expected to be in the range of USD 1.0 billion – 1.35 billion.
Reported Earnings • Mar 08Full year 2023 earnings released: EPS: US$7.75 (vs US$6.92 in FY 2022)Full year 2023 results: EPS: US$7.75 (up from US$6.92 in FY 2022). Revenue: US$1.52b (up 5.3% from FY 2022). Net income: US$648.3m (up 15% from FY 2022). Profit margin: 43% (up from 39% in FY 2022). Revenue is expected to decline by 21% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 1.8%. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth.
お知らせ • Mar 07TORM plc Recommends Final Dividend for the Financial Year Ended 31 December 2023, Payable on 24 April 2024According to the TORM plc’s Distribution Policy, the Company intends to declare a quarterly dividend based on the cash position at the end of each quarter. The Board is recommending a final dividend for the financial year ended 31 December 2023 of USD 1.36 per A-share. When taking into account share issuances that are expected to take place prior to the dividend record date, this is expected to equate to an aggregate dividend payment of USD 126.3 million. This dividend is expected to be paid on 24 April 2024 to all shareholders appearing on the register of members as of 16 April 2024. The payment of the dividend is not conditional on the proposed Capital Reduction.
Seeking Alpha • Feb 13My TORM Pick In 2021 Smoked All Big Tech GainsSummary TORM plc has experienced a total return of +523% over 37 months, outperforming each of the "Magnificent 7" Big Tech companies. The deep-value TORM proposition no longer exists, but shares remain an investible idea with a high dividend yield. Many successful long-term investors search for underfollowed or unwanted stock names selling at steep discounts to underlying net assets. Read the full article on Seeking Alpha
Price Target Changed • Jan 24Price target increased by 7.7% to US$42.00Up from US$39.00, the current price target is an average from 3 analysts. New target price is 17% above last closing price of US$35.97. Stock is up 50% over the past year. The company is forecast to post earnings per share of US$7.44 for next year compared to US$6.92 last year.
お知らせ • Jan 19TORM plc has completed a Follow-on Equity Offering in the amount of $19.100624 million.TORM plc has completed a Follow-on Equity Offering in the amount of $19.100624 million. Security Name: Class A shares Security Type: Common Stock Securities Offered: 616,746 Price\Range: $30.97
Seeking Alpha • Jan 10TORM: Still Great Value To Be UnlockedSummary TORM plc is one of the world's largest transporters of refined oil products, operating in various vessel segments from Medium Range to Long Range 2 tankers. In 9M 2023, TORM achieved historically high financial results, despite a temporary decline in freight rates during the summer. I think it's good that TORM is trying to optimize its fleet in advance and rejuvenate its average age. If we assume that TRMD's EBITDA will fall by as much as 20-40% in FY2025, we will still receive a double-digit dividend yield with the current dividend policy. I rate the stock as a 'Buy' again this time. Read the full article on Seeking Alpha
お知らせ • Dec 02+ 4 more updatesTORM plc to Report Q3, 2024 Results on Nov 07, 2024TORM plc announced that they will report Q3, 2024 results on Nov 07, 2024
Recent Insider Transactions • Nov 18CEO & Executive Director recently sold US$31m worth of stockOn the 14th of November, Jacob Meldgaard sold around 507k shares on-market at roughly US$60.54 per share. This transaction amounted to 99% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jacob's only on-market trade for the last 12 months.
Upcoming Dividend • Nov 14Upcoming dividend of US$1.46 per share at 19% yieldEligible shareholders must have bought the stock before 21 November 2023. Payment date: 05 December 2023. Payout ratio is on the higher end at 84%, and the cash payout ratio is above 100%. Trailing yield: 19%. Within top quartile of American dividend payers (5.2%). Higher than average of industry peers (4.6%).
New Risk • Nov 13New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Minor Risks High level of debt (54% net debt to equity). Dividend is not well covered by cash flows (104% cash payout ratio). Shareholders have been diluted in the past year (3.4% increase in shares outstanding).
お知らせ • Nov 12Torm plc Revises Earnings Guidance for the Full-Year 2023TORM plc revised earnings guidance for the full-year 2023. For the year, TCE earnings are expected to be in the range of USD 1,075 million -1,125 million (previous outlook: USD 1,050 million -1,175 million).
お知らせ • Nov 11TORM plc Approves Interim Dividend for the Third Quarter of 2023, Payable on 05 December 2023TORM plc Board of Directors has approved an interim dividend for Third Quarter 2023 of USD 1.46 per share, resulting in an expected total dividend payment of USD 123.2m. The payment date is 05 December 2023 while the ex-dividend date is 21 November 2023, and the record date is 22 November 2023.
Reported Earnings • Nov 10Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: US$358.1m (down 20% from 3Q 2022). Net income: US$124.3m (down 43% from 3Q 2022). Profit margin: 35% (down from 48% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to decline by 15% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 63% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Nov 07Now 21% undervaluedOver the last 90 days, the stock is up 15%. The fair value is estimated to be US$38.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 69%. Revenue is forecast to decline by 41% in 2 years. Earnings is forecast to decline by 52% in the next 2 years.
Reported Earnings • Aug 18Second quarter 2023 earnings released: EPS: US$2.23 (vs US$1.31 in 2Q 2022)Second quarter 2023 results: EPS: US$2.23 (up from US$1.31 in 2Q 2022). Revenue: US$384.3m (up 14% from 2Q 2022). Net income: US$185.8m (up 74% from 2Q 2022). Profit margin: 48% (up from 32% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is expected to fall by 30% p.a. on average during the next 3 years compared to a 2.3% decline forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth.
お知らせ • Aug 18+ 1 more updateTORM plc Provides Earnings Guidance for the Full Year 2023TORM plc provided earnings guidance for the full year 2023. For the year, the company expected TCE earnings to be in the range of USD 1,050 million to USD 1,175 million (previous outlook: USD 1,025 million to 1,375 million).
Board Change • Jun 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Employee Representative Board Observer Christian Gorrissen was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
Upcoming Dividend • May 15Upcoming dividend of US$1.46 per share at 16% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 06 June 2023. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 16%. Within top quartile of American dividend payers (5.2%). Higher than average of industry peers (4.9%).
Price Target Changed • May 13Price target decreased by 9.8% to US$37.00Down from US$41.00, the current price target is an average from 3 analysts. New target price is 33% above last closing price of US$27.73. Stock is up 127% over the past year. The company is forecast to post earnings per share of US$7.83 for next year compared to US$6.92 last year.
お知らせ • May 12TORM plc Reaffirms Earnings Guidance for the Year 2023TORM plc reaffirmed earnings guidance for the year 2023. For the full year 2023, the company earnings are expected to be in the range of USD 1,025 million to USD 1,375 million (unchanged from the outlook released on 16 March 2023).