DB:TK4

Stock Analysis Report

Tsakos Energy Navigation

Executive Summary

Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide.


Snowflake Analysis

Fair value with mediocre balance sheet.


Similar Companies

Share Price & News

How has Tsakos Energy Navigation's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TK4's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

5.1%

TK4

-2.8%

DE Oil and Gas

-0.9%

DE Market


1 Year Return

0.7%

TK4

74.7%

DE Oil and Gas

12.8%

DE Market

Return vs Industry: TK4 underperformed the German Oil and Gas industry which returned 74.4% over the past year.

Return vs Market: TK4 underperformed the German Market which returned 12.8% over the past year.


Shareholder returns

TK4IndustryMarket
7 Day5.1%-2.8%-0.9%
30 Day-11.6%-1.1%0.6%
90 Day-8.2%25.7%2.9%
1 Year3.7%0.7%79.7%74.7%16.3%12.8%
3 Year-25.6%-34.0%13.1%3.8%15.8%5.7%
5 Year-47.3%-56.8%310.6%247.0%19.7%3.3%

Price Volatility Vs. Market

How volatile is Tsakos Energy Navigation's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Tsakos Energy Navigation undervalued compared to its fair value and its price relative to the market?

27.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TK4 (€2.9) is trading below our estimate of fair value (€3.97)

Significantly Below Fair Value: TK4 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: TK4 is unprofitable, so we can't compare its PE Ratio to the Oil and Gas industry average.

PE vs Market: TK4 is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TK4's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TK4 is good value based on its PB Ratio (0.2x) compared to the DE Oil and Gas industry average (1.4x).


Next Steps

Future Growth

How is Tsakos Energy Navigation forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

3.8%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if TK4's forecast earnings growth is above the savings rate (-0.4%).

Earnings vs Market: Insufficient data to determine if TK4's earnings are forecast to grow faster than the German market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TK4's revenue (3.8% per year) is forecast to grow slower than the German market (5% per year).

High Growth Revenue: TK4's revenue (3.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if TK4's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Tsakos Energy Navigation performed over the past 5 years?

-59.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TK4 is currently unprofitable.

Growing Profit Margin: TK4 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TK4 is unprofitable, and losses have increased over the past 5 years at a rate of -59.7% per year.

Accelerating Growth: Unable to compare TK4's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TK4 is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-5.2%).


Return on Equity

High ROE: TK4 has a negative Return on Equity (-4.29%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Tsakos Energy Navigation's financial position?


Financial Position Analysis

Short Term Liabilities: TK4's short term assets ($177.0M) do not cover its short term liabilities ($299.5M).

Long Term Liabilities: TK4's short term assets ($177.0M) do not cover its long term liabilities ($1.4B).


Debt to Equity History and Analysis

Debt Level: TK4's debt to equity ratio (103%) is considered high.

Reducing Debt: TK4's debt to equity ratio has reduced from 121.8% to 103% over the past 5 years.


Balance Sheet

Inventory Level: TK4 has a high level of physical assets or inventory.

Debt Coverage by Assets: TK4's debt is not covered by short term assets (assets are 0.1x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable TK4 has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: TK4 is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 5.6% per year.


Next Steps

Dividend

What is Tsakos Energy Navigation's current dividend yield, its reliability and sustainability?

3.47%

Current Dividend Yield


Dividend Yield vs Market

company3.5%marketbottom25%1.3%markettop25%3.6%industryaverage6.3%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: TK4's dividend (3.47%) is higher than the bottom 25% of dividend payers in the German market (1.31%).

High Dividend: TK4's dividend (3.47%) is low compared to the top 25% of dividend payers in the German market (3.63%).


Stability and Growth of Payments

Stable Dividend: TK4's dividend payments have been volatile in the past 10 years.

Growing Dividend: TK4's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: TK4 is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

23.8yrs

Average management tenure


CEO

Nikolas Tsakos (56yo)

26.4yrs

Tenure

0

Nikolas P. Tsakos is a Member of the well known family of ship-owners from Kardamilon, Chios. From 1981 to 1987, he was employed at Tsakos Shipping and Trading Ltd in the USA, with a focus on the energy se ...


Leadership Team

NamePositionTenureCompensationOwnership
Nikolas Tsakos
Founder26.4yrsno data7.15% $17.0m
Paul Durham
CFO & Chief Accounting Officer19.7yrsno datano data
George Saroglou
COO & Executive Director18.6yrsno datano data
Harrys Kosmatos
Corporate Development Officer0yrsno datano data
Vasileios Papageorgiou
Chief Marine Officer0yrsno datano data

23.8yrs

Average Tenure

62yo

Average Age

Experienced Management: TK4's management team is seasoned and experienced (23.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Nikolas Tsakos
Founder26.4yrsno data7.15% $17.0m
George Saroglou
COO & Executive Director18.6yrsno datano data
Michael Jolliffe
Co-Founder & Vice Chairman18.6yrsno datano data
Efstratios-Georgios Arapoglou
Independent Chairman of the Board0yrsno datano data
Aristides A. Patrinos
Independent Director13.3yrsno datano data
Denis Petropoulos
Independent Director1.8yrsno datano data
Nicholas Tommasino
Independent Director2.7yrsno datano data
Efthimios Mitropoulos
Independent Director8.1yrsno datano data
Maria Vassalou
Independent Director4.1yrsno datano data

10.7yrs

Average Tenure

62yo

Average Age

Experienced Board: TK4's board of directors are seasoned and experienced ( 10.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Tsakos Energy Navigation Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tsakos Energy Navigation Limited
  • Ticker: TK4
  • Exchange: DB
  • Founded: 1993
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: US$258.085m
  • Listing Market Cap: US$237.593m
  • Shares outstanding: 89.61m
  • Website: https://www.tenn.gr

Location

  • Tsakos Energy Navigation Limited
  • 367 Syngrou Avenue
  • P. Faliro
  • Athens
  • 175 64
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TNPNYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1994
TK4DB (Deutsche Boerse AG)YesCommon StockDEEURJan 1994
0UEDLSE (London Stock Exchange)YesCommon StockGBUSDJan 1994
TNP.PRCNYSE (New York Stock Exchange)RED PFD SER CUSUSDOct 2013
TNP.PRDNYSE (New York Stock Exchange)PERP PFD SER DUSUSDApr 2015
TNP.PRENYSE (New York Stock Exchange)PERP PFD SER EUSUSDMar 2017
TNP.PRFNYSE (New York Stock Exchange)CUM PFD SER FUSUSDJun 2018

Biography

Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. As of January 9, 2020, it operated a fleet of 69 double-hull vessels. The company was formerly known as MIF Limited and changed its name to Tsakos Energy Navigation Limited in July 2001. Tsakos Energy Navigation Limited was founded in 1993 and is based in Athens, Greece. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/22 21:23
End of Day Share Price2020/02/21 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.