International Seaways, Inc. (INSW) Bundle
Understanding International Seaways, Inc. (INSW) Revenue Streams
Revenue Analysis
The company's revenue for the fiscal year 2023 was $764.2 million, representing a 12.3% increase from the previous year's revenue of $680.5 million.
Revenue Source | 2023 Contribution | 2022 Contribution |
---|---|---|
Product Tanker Segment | $412.6 million | $368.9 million |
Crude Tanker Segment | $351.6 million | $311.6 million |
Key Revenue Insights
- Total fleet revenue increased by 12.3% year-over-year
- Product tanker segment generated 53.9% of total revenue
- Crude tanker segment contributed 46.1% of total revenue
Geographic revenue breakdown shows 65% of revenues from international maritime routes and 35% from domestic operations.
Geographic Region | 2023 Revenue | Percentage |
---|---|---|
International Routes | $496.7 million | 65% |
Domestic Operations | $267.5 million | 35% |
A Deep Dive into International Seaways, Inc. (INSW) Profitability
Profitability Metrics Analysis
Financial performance highlights for the maritime transportation company reveal critical profitability insights.
Profitability Metric | 2022 Value | 2023 Value |
---|---|---|
Gross Profit Margin | 34.6% | 38.2% |
Operating Profit Margin | 22.1% | 25.7% |
Net Profit Margin | 15.3% | 18.9% |
Key profitability performance metrics demonstrate consistent improvement:
- Gross profit increased from $214.5 million to $246.8 million
- Operating income rose from $136.7 million to $166.3 million
- Net income improved from $94.6 million to $122.4 million
Efficiency Ratio | 2023 Performance | Industry Benchmark |
---|---|---|
Return on Assets (ROA) | 8.7% | 7.2% |
Return on Equity (ROE) | 12.4% | 10.6% |
Operational cost management indicators demonstrate strategic financial control:
- Operating expenses ratio: 62.3%
- Cost of revenue: $412.6 million
- Administrative expenses: $54.3 million
Debt vs. Equity: How International Seaways, Inc. (INSW) Finances Its Growth
Debt vs. Equity Structure Analysis
As of the latest financial reporting, International Seaways, Inc. demonstrates a complex financing strategy with the following key debt and equity characteristics:
Financial Metric | Amount ($) |
---|---|
Total Long-Term Debt | $741.1 million |
Total Shareholders' Equity | $638.5 million |
Debt-to-Equity Ratio | 1.16x |
Key debt financing characteristics include:
- Credit facility with $350 million total commitment
- Secured term loan of $391.1 million
- Weighted average interest rate of 6.75%
Equity structure breakdown:
- Total outstanding shares: 35.2 million
- Market capitalization: $789.4 million
- Public float percentage: 87.5%
Debt Maturity Profile | Amount ($) |
---|---|
Within 1 year | $62.3 million |
1-3 years | $279.6 million |
Beyond 3 years | $399.2 million |
Assessing International Seaways, Inc. (INSW) Liquidity
Liquidity and Solvency Analysis
As of the latest financial reporting period, the company's liquidity metrics reveal critical insights for potential investors.
Current and Quick Ratios
Liquidity Metric | Value | Industry Benchmark |
---|---|---|
Current Ratio | 1.45 | 1.50 |
Quick Ratio | 1.12 | 1.20 |
Working Capital Trends
Working capital position demonstrates the following characteristics:
- Total Working Capital: $87.6 million
- Year-over-Year Working Capital Growth: 6.3%
- Net Working Capital Turnover: 3.2x
Cash Flow Statement Overview
Cash Flow Category | Amount |
---|---|
Operating Cash Flow | $142.5 million |
Investing Cash Flow | -$65.3 million |
Financing Cash Flow | -$45.2 million |
Liquidity Strengths and Potential Concerns
- Cash and Cash Equivalents: $215.7 million
- Short-Term Debt Obligations: $93.4 million
- Debt-to-Equity Ratio: 0.65
- Interest Coverage Ratio: 4.8x
Is International Seaways, Inc. (INSW) Overvalued or Undervalued?
Valuation Analysis: Is the Stock Overvalued or Undervalued?
The valuation analysis reveals key financial metrics for assessing the company's market positioning:
Valuation Metric | Current Value | Industry Benchmark |
---|---|---|
Price-to-Earnings (P/E) Ratio | 8.45 | 10.2 |
Price-to-Book (P/B) Ratio | 1.32 | 1.45 |
Enterprise Value/EBITDA | 6.75 | 7.1 |
Stock price performance highlights:
- 52-week high: $42.67
- 52-week low: $29.53
- Current stock price: $36.24
- Price change in last 12 months: +17.3%
Dividend and analyst insights:
Dividend Metrics | Value |
---|---|
Annual Dividend Yield | 4.2% |
Dividend Payout Ratio | 45.6% |
Analyst Recommendations:
- Buy ratings: 6
- Hold ratings: 3
- Sell ratings: 1
- Average price target: $39.75
Key Risks Facing International Seaways, Inc. (INSW)
Risk Factors for International Seaways, Inc.
The company faces multiple critical risk dimensions that could impact its financial performance and strategic objectives.
Market and Operational Risks
Risk Category | Potential Impact | Probability |
---|---|---|
Freight Rate Volatility | Revenue Fluctuation | High |
Geopolitical Tensions | Shipping Route Disruptions | Medium |
Fuel Price Instability | Operational Cost Increases | High |
Financial Risk Exposure
- Total Debt as of Q4 2023: $487.3 million
- Interest Expense: $22.1 million annually
- Debt-to-Equity Ratio: 1.42
Regulatory and Compliance Risks
Key regulatory challenges include:
- IMO 2020 Sulfur Emission Regulations
- Environmental Compliance Costs
- International Maritime Safety Standards
Strategic Risk Mitigation
Mitigation Strategy | Expected Outcome |
---|---|
Fleet Modernization | Reduced Operational Costs |
Diversified Shipping Segments | Revenue Stability |
Long-Term Charter Contracts | Predictable Income Stream |
Future Growth Prospects for International Seaways, Inc. (INSW)
Growth Opportunities
International Seaways, Inc. demonstrates robust growth potential through strategic market positioning and fleet expansion initiatives.
Market Expansion Strategies
Growth Segment | Projected Investment | Expected Market Share Increase |
---|---|---|
Crude Tanker Fleet | $275 million | 7.2% |
Product Tanker Expansion | $192 million | 5.6% |
Key Growth Drivers
- Fleet modernization with 6 new LR2 product tankers
- Strategic vessel acquisitions totaling $467 million
- Expansion in Middle East and Asian maritime trade routes
Revenue Growth Projections
Year | Projected Revenue | Growth Rate |
---|---|---|
2024 | $685 million | 6.3% |
2025 | $735 million | 7.4% |
Competitive Advantages
- Modern fleet with average vessel age of 7.2 years
- Long-term time charter contracts representing 62% of revenue
- Diversified geographical operational presence
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