Tsakos Energy Navigation (TEN) Financial Statements & Analysis

Tsakos Energy Navigation (TEN) Income Statement

Tsakos Energy Navigation reported revenue of $798.69M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 0.7% from $804.06M a year earlier. Net income was $160.90M, up 8.5% year over year, a net margin of 20.1%. Gross margin was 35.4% and operating margin 30.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $298.40M, up 54.4% from the same quarter a year earlier.

Tsakos Energy Navigation Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Tsakos Energy Navigation Limited income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Mar 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	798.69	804.06	889.57	860.40	546.12	546.12	644.14	597.45	529.88	529.18
Cost of Revenue	515.85	368.89	519.56	573.75	544.66	544.66	324.47	456.48	464.66	426.60
Gross Profit	282.84	453.14	370.01	286.65	1.46	1.46	319.66	140.97	65.22	102.58
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	285.00	-	273.00	324.00	204.00	158.00
Selling, General & Administrative	42.08	45.37	33.34	29.85	29.13	29.13	29.04	27.70	27.03	26.32
Operating Expenses	42.08	174.58	-21.49	29.85	121.32	29.13	222.97	27.70	27.03	26.32
Operating Income	240.76	278.56	391.50	256.35	-119.86	-27.67	96.69	113.28	38.18	76.26
Other Income/Expense
Interest Income	10.49	15.12	14.58	2.00	0.70	0.70	1.07	3.69	2.51	1.08
Interest Expense	97.50	-113.19	106.46	59.92	41.82	38.58	-53.21	74.02	76.34	66.21
Other Income/Expense	-75.82	-96.93	-86.42	-47.89	-30.72	-81.18	-69.47	-99.27	-142.67	-54.29
Income
Income Before Tax	164.94	181.63	305.08	208.47	-150.58	-150.58	27.22	14.01	-101.04	9.19
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00	63.00	70.00
Net Income	160.90	148.27	300.18	204.23	-151.40	-151.40	-15.07	15.13	-99.20	7.61
Net Income - Continuous Operations	160.90	176.23	300.18	204.23	-151.40	-150.58	24.00	15.13	-99.20	7.61
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-
EBITDA	410.82	369.71	555.78	371.39	99.15	14.82	260.70	227.46	184.98	215.28
EBIT	258.96	229.90	336.67	263.92	-	-112.01	96.69	-	-	-
Depreciation & Amortization	170.05	139.81	144.24	121.58	126.82	126.82	127.28	139.42	146.80	139.02
Earnings Per Share
Basic EPS	4.00	5.00	9.00	6.00	-10.00	-10.00	-1.00	-2.00	-6.00	-
Diluted EPS	4.00	5.00	9.00	6.00	-10.00	-10.00	-1.00	-	-6.00	-
Basic Shares Outstanding	29.74	29.51	29.51	27.97	19.65	19.65	18.77	17.75	17.42	16.94
Diluted Shares Outstanding	29.74	29.51	29.51	28.19	19.65	19.65	18.77	50.36	17.42	16.94

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Tsakos Energy Navigation Financial Statements

What was Tsakos Energy Navigation's revenue in fiscal 2025?

Tsakos Energy Navigation reported revenue of $798.69M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 0.7% from $804.06M a year earlier.

Is Tsakos Energy Navigation profitable?

Yes. Tsakos Energy Navigation earned net income of $160.90M in fiscal 2025, a net margin of 20.1%. In fiscal 2024 it earned $148.27M.

What is Tsakos Energy Navigation's operating margin?

Tsakos Energy Navigation's operating income was $240.76M on revenue of $798.69M in fiscal 2025, an operating margin of 30.1%, compared with 34.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition