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Stock

TORM

TRMD-A.CO
74
Marine Shipping · Industrials
Price
kr 218.00
-11.00 (-4.80%)
Market Cap
kr 22.32B
Exchange
CO
Winston Score
74
Winston is happy
A high-quality business with solid fundamentals.
Data as of Sep 15, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Strong
Growth
Good
Cash Flow
Strong
Stability
Strong
Valuation
Good
Dividends
Exceptional

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

Headquartered in London, United Kingdom, and established in 1889, TORM plc functions as a product tanker company with a global reach, primarily involved in the transportation of refined petroleum goods and crude oil. Its operations are divided into two main divisions: Tanker services and Marine Exhaust systems. The firm's tanker fleet is responsible for conveying various products, including lighter fuels such as gasoline, jet fuel, naphtha, and gas oil, alongside heavier "dirty" petroleum products like fuel oil. Additionally, TORM is engaged in innovating, developing, and producing advanced, environmentally friendly marine equipment.

Growth Profile

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

Revenue Growth

+106.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+441.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Research and development spending

Cash Position

Cash flow positive

$376M 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 107% 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
+32.0%
Fast-growing sales (+32.0% YoY)
Profit growth
EPS YoY
+78.7%
Earnings growing fast (+78.7% 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
8.98x
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)
5.5x
Attractive valuation — P/E 5.5

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

Cheaper or dearer next year
P/E vs Forward
-3.6
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
28.53%
Healthy income — 28.53% yield

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

Dividend record
Dividend Growth
+72.8%
Dividend growing fast (72.8% YoY)

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