International Seaways

INSW

Marine Shipping · Industrials

Price

$99.52

+0.16 (+0.16%)

Market Cap

$4.93B

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Good

Cash Flow

Strong

Stability

Good

Valuation

Good

Dividends

Exceptional

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Share count rising — dilution

+29.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 38.4M (2021) → 49.6M (2025)

Winston Score History

The full picture

International Seaways owns and operates a fleet of large ships that carry crude oil and petroleum products across the ocean. Its customers are oil companies, refiners, and commodity traders who need to move energy from where it is produced to where it is refined or consumed. The company is one of the larger independent tanker operators listed in the United States.

The company makes money by charging daily rates to customers who hire its ships, either on short-term spot contracts or longer fixed-rate charters. It operates globally, with routes spanning the Atlantic, Pacific, and Middle East regions, and its fleet includes very large crude carriers as well as product tankers. The main risk is that tanker day rates are highly cyclical and can drop sharply when oil demand weakens or when too many new ships enter the market, which would directly compress revenue and margins.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-37.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+376.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

16.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$409M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

International Seaways's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

9.1%

Thin — 9.1% gross margin

Profit after running costs

Operating Margin

244.7%

Excellent — 244.7% operating margin

Return on the money invested

ROCE

25.4%

Exceptional — 25.4% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+14.3%

Fast-growing sales (+14.3% YoY)

Profit growth

EPS YoY

+226.3%

Earnings growing fast (+226.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

81%

Modest — 81% of profit becomes cash

Spare cash per sale

FCF Margin

27.5%

Converts sales into free cash efficiently (27.5%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.29

Conservative — low debt load (0.29)

Covers its interest

Interest Cover

1.07x

Dangerous — barely covers interest (1.1x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

6.3x

Attractive valuation — P/E 6.3

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-7.4

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

8.66%

Healthy income — 8.66% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+108.3%

Dividend growing fast (108.3% YoY)

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