NYSE · INSW

International Seaways, Inc.

Industrials · Marine Shipping

$110.53▲ 1.05% ($1.15)at close

After hours$112.00▲ 1.33%7:53 PM ET

52-week

$42.26$112.97

Market cap

$5.47B

P/E

7.07

EPS (TTM)

$15.63

Next earnings

Nov 5, 2026

What the market price implies · Reverse DCF

To support a price of $110.53, this model requires revenue to grow by 4.02%/yr over the next 10 years, compounded annually.

Historical revenue grew by 32.63%/yr over the past 4 years. The required annual growth rate is 28.61 percentage points lower.

Selected forecast · Base scenario

19.61%/yr · actual 10-year annualized revenue growth

Year 1 growth: 40%

Market-implied · Base operating assumptions + edited margins

4.02%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$110.53

Estimated value / share

$389.15

Base scenario

This estimate is 252.07% above the price used.

USD · TTM ending 2026-06-30

Latest quarterly growth differs materially from the latest annual pace. It remains an observed growth input; review whether acceleration or a change in the business explains it.

This estimate is at least 3× the price used. Review the growth, margin and investment assumptions behind the gap.

Year 1 growth 40% · Ending margin 30% · Discount rate 8.5%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 17, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 18, 2026, 1:17 AM UTC · provider

Why this method?

FCFF is positive, but it is still too unstable and too short-lived to anchor even a normalized FCFF DCF. Use revenue and margin assumptions instead of compounding current FCFF.

Is FCFF positive and has it been for 3+ consecutive years? 4 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 358.6%. Latest capex is 2.1x the prior median, which points to a capex supercycle that should be normalized first.

Do you have 5+ years of positive FCFF history? Only 4 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Optimism is getting priced inHigh confidence

1Y Price: 125.43%Revenue (TTM): 57.66%FCF (TTM): 37.72%P/FCF: 80th pct

What changed

The stock rose 125.43% over the last year. Revenue grew 57.66% over the trailing twelve months. Operating margin moved from 32.98% to 58.75%. Free cash flow grew 37.72% over the trailing twelve months.

What the market seems to be pricing

The stock is trading toward the richer end of its historical P/FCF range (80th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.

What would invalidate this read

Operating margin is at 58.75% — continued expansion would be needed to justify the premium. Revenue growth of 57.66% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.

Performance

Return analysis

Company profile

International Seaways, Inc. (INSW) specializes in the global seaborne transport of crude oil and refined petroleum products, managing and operating a substantial fleet of ocean-going vessels.

CEOLois K. Zabrocky

SectorIndustrials

IndustryMarine Shipping

Employees2,837

IPO dateNov 16, 2016

https://intlseas.com

Market multiples

Forward P/E—

EV/EBITDA5.54

Enterprise value$2.85B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth140.1%

Gross margin (FY2025)42.29%▼8.0ppvs FY2024

Operating margin (FY2025)36.33%▼11.5ppvs FY2024

ROE37.41%▲21.5ppvs FY2025

Analyst consensus

RatingBuy

Target price$102.33▼7.42%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 5, 2026

Q4 FY26 · EPS est $3.09 · Revenue est $296.07M

View

Dividends

$12.61/shareQuarterlyAt Risk

INSW pays a dividend with a 11.41% dividend yield, growing at 57.53% annually, covered 0.3× by free cash flow.

Dividend Yield

11.41%

Annual Div / Share

$12.61

5yr CAGR

+57.53%

Doubles every ~1.5yr

Payout Ratio

52.91%

At Risk

Dividend Growth Rate

3yr CAGR

+26.97%

5yr CAGR

+57.53%

Dividend Safety

4/10At Risk

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$12.61+285.6%

2025$3.27-43.8%

2024$5.82-5.5%

2023$6.16+1611.1%

2022$0.36-72.3%

2021$1.30+441.7%

2020$0.24—

Income Projection

Invest

USD

Growth rate:

Reinvest dividends

Today

$114/yr

$10/mo

In 5 yrs

$201/yr+76%

$17/mo

In 10 yrs

$354/yr+211%

$30/mo

Today	In 5 yrs	In 10 yrs
$114/yr $10/mo	$201/yr+76% $17/mo	$354/yr+211% $30/mo

Long-range projections use a capped 12% annual growth assumption.

Yield-on-cost grows from 11.41% → 35.43% over 10yr

Analysis

Dividend Strengths

Strong dividend growth rate

The 5-year CAGR of 57.53% meaningfully outpaces inflation, compounding real income growth for long-term holders.

Risks to Watch

Dividend exceeds free cash flow

Free cash flow covers only 0.26× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.

NYSE · INSW

International Seaways, Inc.

Industrials · Marine Shipping

$110.53▲ 1.05% ($1.15)at close

After hours$112.00▲ 1.33%7:53 PM ET

52-week

$42.26$112.97

Market cap

$5.47B

P/E

7.07

EPS (TTM)

$15.63

Next earnings

Nov 5, 2026

What the market price implies · Reverse DCF

To support a price of $110.53, this model requires revenue to grow by 4.02%/yr over the next 10 years, compounded annually.

Historical revenue grew by 32.63%/yr over the past 4 years. The required annual growth rate is 28.61 percentage points lower.

Selected forecast · Base scenario

19.61%/yr · actual 10-year annualized revenue growth

Year 1 growth: 40%

Market-implied · Base operating assumptions + edited margins

4.02%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$110.53

Estimated value / share

$389.15

Base scenario

This estimate is 252.07% above the price used.

USD · TTM ending 2026-06-30

Latest quarterly growth differs materially from the latest annual pace. It remains an observed growth input; review whether acceleration or a change in the business explains it.

This estimate is at least 3× the price used. Review the growth, margin and investment assumptions behind the gap.

Year 1 growth 40% · Ending margin 30% · Discount rate 8.5%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 17, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 18, 2026, 1:17 AM UTC · provider

Why this method?

FCFF is positive, but it is still too unstable and too short-lived to anchor even a normalized FCFF DCF. Use revenue and margin assumptions instead of compounding current FCFF.

Is FCFF positive and has it been for 3+ consecutive years? 4 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 358.6%. Latest capex is 2.1x the prior median, which points to a capex supercycle that should be normalized first.

Do you have 5+ years of positive FCFF history? Only 4 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Optimism is getting priced inHigh confidence

1Y Price: 125.43%Revenue (TTM): 57.66%FCF (TTM): 37.72%P/FCF: 80th pct

What changed

What the market seems to be pricing

The stock is trading toward the richer end of its historical P/FCF range (80th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.

What would invalidate this read

Performance

Return analysis

Company profile

International Seaways, Inc. (INSW) specializes in the global seaborne transport of crude oil and refined petroleum products, managing and operating a substantial fleet of ocean-going vessels.

CEOLois K. Zabrocky

SectorIndustrials

IndustryMarine Shipping

Employees2,837

IPO dateNov 16, 2016

https://intlseas.com

Market multiples

Forward P/E—

EV/EBITDA5.54

Enterprise value$2.85B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth140.1%

Gross margin (FY2025)42.29%▼8.0ppvs FY2024

Operating margin (FY2025)36.33%▼11.5ppvs FY2024

ROE37.41%▲21.5ppvs FY2025

Analyst consensus

RatingBuy

Target price$102.33▼7.42%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 5, 2026

Q4 FY26 · EPS est $3.09 · Revenue est $296.07M

View

Dividends

$12.61/shareQuarterlyAt Risk

INSW pays a dividend with a 11.41% dividend yield, growing at 57.53% annually, covered 0.3× by free cash flow.

Dividend Yield

11.41%

Annual Div / Share

$12.61

5yr CAGR

+57.53%

Doubles every ~1.5yr

Payout Ratio

52.91%

At Risk

Dividend Growth Rate

3yr CAGR

+26.97%

5yr CAGR

+57.53%

Dividend Safety

4/10At Risk

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$12.61+285.6%

2025$3.27-43.8%

2024$5.82-5.5%

2023$6.16+1611.1%

2022$0.36-72.3%

2021$1.30+441.7%

2020$0.24—

Income Projection

Invest

USD

Growth rate:

Reinvest dividends

Today

$114/yr

$10/mo

In 5 yrs

$201/yr+76%

$17/mo

In 10 yrs

$354/yr+211%

$30/mo

Today	In 5 yrs	In 10 yrs
$114/yr $10/mo	$201/yr+76% $17/mo	$354/yr+211% $30/mo

Long-range projections use a capped 12% annual growth assumption.

Yield-on-cost grows from 11.41% → 35.43% over 10yr

Analysis

Dividend Strengths

Strong dividend growth rate

The 5-year CAGR of 57.53% meaningfully outpaces inflation, compounding real income growth for long-term holders.

Risks to Watch

Dividend exceeds free cash flow

Free cash flow covers only 0.26× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.