Tsakos Energy Navigation (TEN) Cash Flow: Operating & Free Cash Flow

Tsakos Energy Navigation Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Cash flow statement showing operating, investing, and financing activities for Tsakos Energy Navigation Limited (TEN) - 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
Operating Activities
Net Income	159.30	181.63	300.18	204.23	-101.91	-150.58	27.22	-334.00	-99.20	7.61
Depreciation & Amortization	170.05	139.81	123.12	121.58	126.82	143.25	137.10	673.00	146.80	139.02
Deferred Income Tax	0.00	0.00	0.00	0.00	12.00	-	0.00	-151.00	-65.00	-10.00
Stock Based Compensation	0.00	8.13	0.00	0.00	24.00	-	18.00	25.00	14.00	14.00
Change in Working Capital	-2.62	45.83	26.65	-43.67	4.25	4.25	8.32	-88.00	-37.56	21.43
Change in Accounts Receivable	4.09	16.87	28.37	-35.24	-1.33	-1.33	19.66	-225.00	-16.00	8.57
Change in Inventory	6.36	3.57	3.70	-3.30	-1.11	-1.11	-8.78	284.00	-4.10	2.46
Change in Accounts Payable	-10.88	12.96	-11.83	-27.06	23.37	23.37	14.98	-66.00	-12.46	-4.05
Change in Other Working Capital	-2.19	12.44	6.41	21.93	-16.68	-0.38	-7.77	-81.00	-5.01	14.43
Other Operating Activities	-30.95	-67.71	-54.67	6.39	-12.05	56.19	32.77	319.00	385.75	270.64
Net Cash from Operating Activities	295.79	307.68	395.28	288.53	53.11	53.11	205.42	444.00	69.65	167.65
Investing Activities
Capital Expenditures	-521.74	-650.02	-298.39	-333.37	-61.23	-61.23	-188.24	-744.00	-17.32	-293.35
Acquisitions	99.05	228.42	165.94	31.56	9.00	-	9.00	-134.00	17.14	51.55
Purchases of Investments	-45.43	-20.00	-5.00	0.00	-8.00	-	0.00	-2.00	0.00	0.00
Sales/Maturities of Investments	10.00	0.00	0.00	0.00	8.00	-	0.00	2.00	0.00	0.00
Other Investing Activities	0.00	0.00	0.00	0.00	44.22	-	84.63	272.00	187.00	-3.00
Net Cash from Investing Activities	-458.12	-441.61	-137.44	-301.81	-8.00	-8.00	-94.61	-606.00	-0.18	-241.80
Financing Activities
Debt Repayment	172.29	184.55	-16.46	206.93	-129.15	-318.90	-383.66	-62.57	-155.96	-2.96
Common Stock Issued	0.00	0.00	0.00	44.03	53.48	53.48	3.46	16.55	4.51	10.85
Common Stock Repurchased	0.00	0.00	-108.32	-2.50	-0.17	-0.17	-9.83	0.00	0.00	0.00
Dividends Paid	-60.14	-71.82	-61.86	-43.71	-36.31	-36.31	-46.71	-49.31	-44.44	-39.87
Other Financing Activities	0.00	-7.19	-112.27	-11.54	22.47	-2.13	1.04	98.33	139.98	107.85
Net Cash from Financing Activities	112.14	105.54	-190.58	195.53	-89.68	-89.68	-136.80	3.00	-51.61	76.13
Summary
Effect of Forex Changes on Cash	5.00	0.00	0.00	0.00	-18.00	-	0.00	23.00	-17.00	3.00
Net Change in Cash	-45.18	-28.38	67.26	182.24	-44.57	-44.57	-26.00	-136.00	17.85	4.90
Cash at Beginning of Period	348.31	376.69	309.44	127.20	171.77	171.77	197.77	702.00	202.67	197.77
Cash at End of Period	303.13	348.31	376.69	309.44	127.20	127.20	171.77	566.00	220.53	202.67
Free Cash Flow	-225.95	-342.34	96.89	-44.84	-8.12	-8.12	17.18	-300.00	52.33	-125.70
Supplemental Disclosures
Interest Paid	-	108.65	101.34	48.95	-	40.84	53.81	-	-	-

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 Cash Flow

What is Tsakos Energy Navigation's free cash flow?

Tsakos Energy Navigation had negative free cash flow of $225.95M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $295.79M minus $521.74M of capital expenditures.

How much does Tsakos Energy Navigation spend on capital expenditures?

Tsakos Energy Navigation spent $521.74M on capital expenditures in fiscal 2025, compared with $650.02M a year earlier. That equals 176.4% of operating cash flow.

Does Tsakos Energy Navigation pay dividends or buy back shares?

Yes. In fiscal 2025 Tsakos Energy Navigation returned $60.14M in dividends to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition