Stock

TORM

TRMD

Marine Shipping · Industrials

Also trades as: 0RG4.L GBP 2.67 (-1.20%)

Price

$39.94

-0.12 (-0.30%)

Market Cap

$4.09B

Exchange

NASDAQ

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Oct 10, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Strong

25/30

Growth

Good

12/20

Cash Flow

Strong

8/10

Stability

Strong

8/10

Valuation

Good

6/10

Ownership

Good

10/15

Dividends

Exceptional

5/5

74 of 100 counted points = Winston Score 74.

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Share count rising — dilution

+28.2% over 4y

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

Diluted shares outstanding: 78.1M (2021) → 100.1M (2025)

§Winston Score History

The full picture

TORM plc, a product tanker company, engages in the transportation of refined oil products and crude oil worldwide. The company transports gasoline, jet fuel, and naphtha. As of March 23, 2022, it operated a fleet of approximately 85 vessels. The company was founded in 1889 and is headquartered in London, the United Kingdom.

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

+106.0% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+440.0% 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

33.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$374M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue accelerating

TORM grew revenue 106% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

57.3%

Premium pricing power — 57.3% gross margin

Profit after running costs

Operating Margin

53.6%

Excellent — 53.6% operating margin

Return on the money invested

ROCE

18.8%

Strong — 18.8% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+31.9%

Fast-growing sales (+31.9% YoY)

Profit growth

EPS YoY

+77.8%

Earnings growing fast (+77.8% 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

112%

Turns 112% of profit into real cash

Spare cash per sale

FCF Margin

10.7%

Modest free cash flow (10.7%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.42

Conservative — low debt load (0.42)

Covers its interest

Interest Cover

8.97x

Comfortably covers interest (9.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

6.5x

Attractive valuation — P/E 6.5

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

Cheaper or dearer next year

P/E vs Forward

-3.2

SLOWING

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

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Dividends

Dividend

Dividend Yield

25.11%

Healthy income — 25.11% yield

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

Dividend record

Dividend Growth

+70.0%

Dividend growing fast (70.0% YoY)

Payout Ratio

39%

no trend

Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

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