International Seaways, Inc. (INSW) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+51.6%

$160.20

vs $105.67 price

Levered DCF

$61.90

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

6.88

Safe zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	7.74×	4.25×	4.01×	4.71×	-4.18×	-85.95×	-1,047.89×	-5.52×
P/B	1.19×	0.95×	1.3×	1.23×	0.48×	0.48×	0.85×	0.49×
P/S	2.84×	1.86×	2.08×	2.11×	2.07×	1.1×	2.38×	1.81×
EV / EBITDA	5.54×	3.78×	3.77×	4.78×	-166.3×	7.76×	10.43×	28.83×
Gross margin	42.3%	50.2%	58.6%	54.4%	-13.9%	40.1%	22.8%	-3.4%
Operating margin	36.3%	47.8%	57.4%	51.3%	-33.1%	10.4%	18.1%	-9.3%
Net margin	36.7%	43.8%	51.9%	44.9%	-49.0%	-1.3%	-0.2%	-32.9%
Current ratio	3.71×	2.87×	2.38×	2.5×	0.96×	2.36×	1.64×	2.23×
Debt / equity	0.29×	0.38×	0.43×	0.72×	0.96×	0.57×	0.68×	0.8×
Interest coverage	7.17×	9.16×	9.36×	7.68×	-2.45×	1.2×	1×	-0.42×
Dividend yield	6.0%	16.1%	13.8%	3.8%	7.3%	1.5%	0.0%	0.0%
Payout ratio	46.8%	68.3%	55.4%	18.0%	-30.7%	-122.4%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.3%	22.5%	32.4%	26.1%	-11.4%	-0.6%	-0.1%	-8.8%
Return on invested capital	11.8%	17.7%	24.8%	17.3%	-3.9%	2.8%	3.9%	-1.4%
Return on assets	11.6%	15.8%	22.1%	14.8%	-5.7%	-0.3%	-0.0%	-4.8%
Free cash flow yield	1.6%	14.8%	21.6%	9.4%	-27.5%	35.7%	5.8%	-33.1%
Earnings yield	12.9%	23.5%	25.0%	21.2%	-23.7%	-1.2%	-0.1%	-18.1%
Enterprise value	$2.9B	$2.3B	$2.8B	$2.7B	$1.6B	$818.9M	$1.5B	$1.2B
Net debt / EBITDA	0.89×	0.9×	0.82×	1.49×	-107.4×	3.37×	4.27×	17.45×
Cash conversion cycle (days)	82	73	85	126	152	43	86	137