NYSE:TNP

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Tsakos Energy Navigation

Executive Summary

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


Snowflake Analysis

Good value second-rate dividend payer.


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: TNP's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-17.7%

TNP

-8.2%

US Oil and Gas

-2.4%

US Market


1 Year Return

-51.2%

TNP

-48.5%

US Oil and Gas

12.0%

US Market

Return vs Industry: TNP underperformed the US Oil and Gas industry which returned -48.5% over the past year.

Return vs Market: TNP underperformed the US Market which returned 12% over the past year.


Shareholder returns

TNPIndustryMarket
7 Day-17.7%-8.2%-2.4%
30 Day-13.8%-13.8%-6.5%
90 Day-24.1%-16.5%8.4%
1 Year-49.0%-51.2%-45.3%-48.5%14.5%12.0%
3 Year-63.4%-67.7%-47.8%-54.7%34.8%25.8%
5 Year-79.4%-83.3%-41.9%-53.4%82.1%61.6%

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

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TNP ($7.25) is trading below our estimate of fair value ($36.07)

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


Price To Earnings Ratio

PE vs Industry: TNP is poor value based on its PE Ratio (8.9x) compared to the US Oil and Gas industry average (6.7x).

PE vs Market: TNP is good value based on its PE Ratio (8.9x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: TNP is good value based on its PB Ratio (0.1x) compared to the US Oil and Gas industry average (0.7x).


Next Steps

Future Growth

How is Tsakos Energy Navigation forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-1.6%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if TNP's forecast earnings growth is above the savings rate (2.2%).

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

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

Revenue vs Market: TNP's revenue is expected to decline over the next 3 years (-1.6% per year).

High Growth Revenue: TNP's revenue is forecast to decline over the next 3 years (-1.6% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if TNP'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?

-62.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TNP has a large one-off loss of $44.1M impacting its June 30 2020 financial results.

Growing Profit Margin: TNP became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: TNP has become profitable over the past 5 years, growing earnings by -62.2% per year.

Accelerating Growth: TNP has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: TNP has become profitable in the last year, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-39.4%).


Return on Equity

High ROE: TNP's Return on Equity (4%) is considered low.


Next Steps

Financial Health

How is Tsakos Energy Navigation's financial position?


Financial Position Analysis

Short Term Liabilities: TNP's short term assets ($262.2M) do not cover its short term liabilities ($354.2M).

Long Term Liabilities: TNP's short term assets ($262.2M) do not cover its long term liabilities ($1.3B).


Debt to Equity History and Analysis

Debt Level: TNP's debt to equity ratio (97.3%) is considered high.

Reducing Debt: TNP's debt to equity ratio has reduced from 106.8% to 97.3% over the past 5 years.

Debt Coverage: TNP's debt is not well covered by operating cash flow (12.8%).

Interest Coverage: TNP's interest payments on its debt are not well covered by EBIT (2.8x coverage).


Balance Sheet


Next Steps

Dividend

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

10.34%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TNP's dividend (10.34%) is higher than the bottom 25% of dividend payers in the US market (1.75%).

High Dividend: TNP's dividend (10.34%) is in the top 25% of dividend payers in the US market (4.99%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (61.7%), TNP's dividend payments are covered by earnings.


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?

24.3yrs

Average management tenure


CEO

Nikolas Tsakos (57 yo)

27yrs

Tenure

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
Founder27yrsno data7.35%
$ 10.0m
Paul Durham
CFO & Chief Accounting Officer20.25yrsno datano data
George Saroglou
COO & Executive Director19.17yrsno datano data
Harrys Kosmatos
Corporate Development Officerno datano datano data
Vasileios Papageorgiou
Chief Marine Officerno datano datano data

24.3yrs

Average Tenure

63yo

Average Age

Experienced Management: TNP's management team is seasoned and experienced (24.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Nikolas Tsakos
Founder27yrsno data7.35%
$ 10.0m
George Saroglou
COO & Executive Director19.17yrsno datano data
Michael Jolliffe
Co-Founder & Vice Chairman19.17yrsno datano data
Efstratios-Georgios Arapoglou
Independent Chairman of the Boardno datano datano data
Aristides A. Patrinos
Independent Director13.92yrsno datano data
Denis Petropoulos
Independent Director2.33yrsno datano data
Nicholas Tommasino
Independent Director3.25yrsno datano data
Efthimios Mitropoulos
Independent Director8.67yrsno datano data
Maria Vassalou
Independent Director4.67yrsno datano data

11.3yrs

Average Tenure

63yo

Average Age

Experienced Board: TNP's board of directors are seasoned and experienced ( 11.3 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 been diluted in the past year, with total shares outstanding growing by 7%.


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: TNP
  • Exchange: NYSE
  • Founded: 1993
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: US$136.308m
  • Shares outstanding: 18.80m
  • 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
TK41DB (Deutsche Boerse AG)YesCommon StockDEEURJan 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 indepe ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/26 06:03
End of Day Share Price2020/09/25 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.