Estados financieros detallados de Tsakos Energy Navigation Limited (TEN-PE): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Tsakos Energy Navigation Limited registró ingresos de $798.7M en el último ejercicio fiscal, con un CAGR de 5 años del 4.4%.
Márgenes de los últimos 12 meses: margen bruto 39.5%, margen operativo 34.3%, margen neto 24.8%.
Al precio actual de $25.60, TEN-PE cotiza a un P/E de 2.94 y un ROE del 11.48%. La capitalización bursátil es de $522M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ingresos | $481.8M | $529.2M | $529.9M | $597.5M | $644.1M | $546.1M | $860.4M | $889.6M | $804.1M | $798.7M |
| Coste de Ventas | $366.4M | $426.6M | $464.7M | $456.3M | $483.2M | $544.7M | $573.8M | $519.0M | $529.1M | $515.8M |
| Beneficio Bruto | $115.4M | $102.6M | $65.2M | $141.2M | $161.0M | $1.5M | $286.6M | $370.6M | $275.0M | $282.8M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $25.6M | $26.3M | $27.0M | $27.7M | $29.0M | $29.1M | $29.9M | $33.3M | $45.4M | $42.1M |
| Gastos Operativos | $25.6M | $26.3M | $27.0M | $27.7M | $29.0M | $29.1M | $29.9M | $33.3M | $45.4M | $42.1M |
| Beneficio Operativo | $89.8M | $63.5M | -$28.1M | $85.9M | $96.7M | -$31.0M | $256.4M | $337.3M | $229.6M | $240.8M |
| EBITDA | $197.6M | $206.4M | $122.1M | $240.1M | $218.0M | $18.1M | $388.6M | $555.8M | $458.6M | $410.8M |
| Gastos por Intereses | $37.4M | $61.9M | $71.9M | $69.0M | $49.6M | $38.4M | $55.5M | $102.6M | $117.0M | $97.5M |
| Beneficio Antes de Impuestos | $56.5M | $9.2M | -$101.0M | $14.0M | $27.2M | -$150.6M | $208.5M | $305.1M | $181.6M | $164.9M |
| Impuestos | 0 | $64.9M | -$958000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | $55.8M | $7.6M | -$99.2M | -$53.0M | -$25.6M | -$189.8M | $204.2M | $300.2M | $175.3M | $160.9M |
| BPA | $3.29 | $0.45 | $-5.69 | $-2.99 | $-1.37 | $-9.66 | $6.02 | $9.04 | $5.03 | $4.45 |
| BPA Diluido | $3.29 | $0.45 | $-5.69 | $-2.99 | $-1.37 | $-9.66 | $5.97 | $9.04 | $5.03 | $4.45 |
| Acciones en Circulación (Diluidas) | $17.0M | $16.9M | $17.4M | $17.8M | $18.8M | $19.7M | $28.2M | $29.5M | $29.5M | $29.7M |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Caja y Equivalentes | $187.8M | $189.8M | $204.8M | $184.8M | $160.5M | $117.2M | $304.4M | $376.7M | $348.3M | $303.1M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $30.6M |
| Cuentas por Cobrar | $45.0M | $41.6M | $56.3M | $60.5M | $46.1M | $58.0M | $87.1M | $52.0M | $33.7M | $53.8M |
| Inventario | $18.8M | $16.3M | $20.4M | $13.0M | $21.8M | $22.9M | $26.2M | $22.5M | $18.9M | $12.6M |
| Activos Corrientes | $358.3M | $304.4M | $317.5M | $397.0M | $321.5M | $239.7M | $513.1M | $507.9M | $450.4M | $433.9M |
| Inmovilizado Material | $2.89B | $3.03B | $2.85B | $2.72B | $2.73B | $2.60B | $2.73B | $2.79B | $3.18B | $3.47B |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $3.28B | $3.37B | $3.21B | $3.15B | $3.11B | $2.89B | $3.31B | $3.36B | $3.71B | $3.95B |
| Cuentas por Pagar | $52.5M | $46.9M | $37.5M | $36.6M | $55.3M | $74.9M | $48.2M | $40.2M | $55.8M | $42.7M |
| Deuda a Corto | $288.1M | $225.9M | $160.6M | $243.0M | $253.4M | $202.7M | $250.8M | $214.1M | $264.5M | $309.8M |
| Pasivos Corrientes | $393.3M | $338.9M | $254.3M | $354.2M | $382.0M | $332.1M | $369.7M | $323.2M | $408.5M | $458.0M |
| Deuda a Largo | $1.47B | $1.53B | $1.44B | $1.30B | $1.27B | $1.20B | $1.38B | $1.37B | $1.50B | $1.62B |
| Pasivos Totales | $1.86B | $1.87B | $1.70B | $1.68B | $1.73B | $1.60B | $1.79B | $1.71B | $1.94B | $2.09B |
| Reservas | $582.9M | $547.9M | $400.9M | $364.0M | $338.8M | $149.5M | $311.7M | $548.2M | $652.7M | $738.4M |
| Patrimonio Neto | $1.41B | $1.49B | $1.49B | $1.45B | $1.35B | $1.24B | $1.47B | $1.62B | $1.73B | $1.82B |
| Deuda Total | $1.75B | $1.75B | $1.60B | $1.56B | $1.57B | $1.46B | $1.67B | $1.60B | $1.76B | $1.93B |
| Deuda Neta | $1.57B | $1.56B | $1.39B | $1.37B | $1.41B | $1.34B | $1.36B | $1.23B | $1.42B | $1.60B |
| Capital Circulante | -$35.0M | -$34.5M | $63.2M | $42.8M | -$60.6M | -$92.4M | $143.4M | $184.7M | $41.8M | -$24.2M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Beneficio Neto | $56.5M | $9.2M | -$101.0M | $14.0M | $27.2M | -$150.6M | $208.5M | $300.2M | $175.3M | $159.3M |
| Amortizaciones | $107.1M | $131.9M | $137.0M | $128.8M | $127.3M | $126.8M | $121.6M | $144.2M | $159.9M | $170.1M |
| Compensación en Acciones | $510000 | $487000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | $15.0M | $21.4M | -$37.6M | $12.2M | $8.3M | $4.3M | -$43.7M | $26.7M | $45.8M | -$2.6M |
| Flujo de Caja Operativo | $170.4M | $170.8M | $73.9M | $184.3M | $205.4M | $53.1M | $288.5M | $391.3M | $302.9M | $295.8M |
| Inversiones (CapEx) | -$576.1M | -$293.3M | -$17.3M | -$102.2M | -$188.2M | -$61.2M | -$333.4M | -$298.4M | -$650.0M | -$521.7M |
| Adquisiciones | 0 | $51.5M | $17.1M | $10.0M | $97.6M | $53.2M | $31.6M | $165.9M | $228.4M | $99.0M |
| Recompra de Acciones | -$20.7M | $508.1M | $497.2M | -$50.0M | -$59.8M | -$168000 | -$2.5M | -$108.3M | 0 | 0 |
| Dividendos Pagados | -$40.4M | -$39.9M | -$44.4M | -$49.3M | -$46.7M | -$36.3M | -$43.7M | -$61.9M | -$71.8M | -$60.1M |
| Flujo de Caja Libre | -$405.7M | -$122.5M | $56.6M | $82.1M | $17.2M | -$8.1M | -$44.8M | $92.9M | -$347.1M | -$226.0M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Crecimiento Ingresos (anual) | +9.8% | +0.1% | +12.8% | +7.8% | -15.2% | +57.5% | +3.4% | -9.6% | -0.7% | |
| Crecimiento Beneficio Neto (anual) | -86.4% | -1403.2% | +46.6% | +51.6% | -640.0% | +207.6% | +47.0% | -41.6% | -8.2% | |
| Crecimiento BPA (anual) | -86.3% | -1364.4% | +47.5% | +54.2% | -605.1% | +162.3% | +50.2% | -44.4% | -11.5% | |
| Cambio en Acciones (anual) | -0.2% | +2.8% | +1.9% | +5.7% | +4.7% | +43.4% | +4.7% | +0.0% | +0.8% | |
| Crecimiento FCF (anual) | +69.8% | +146.2% | +45.1% | -79.1% | -147.3% | -452.4% | +307.3% | -473.5% | +34.9% | |
| Margen Bruto | 24.0% | 19.4% | 12.3% | 23.6% | 25.0% | 0.3% | 33.3% | 41.7% | 34.2% | 35.4% |
| Margen Operativo | 18.6% | 12.0% | -5.3% | 14.4% | 15.0% | -5.7% | 29.8% | 37.9% | 28.6% | 30.1% |
| Margen EBITDA | 41.0% | 39.0% | 23.0% | 40.2% | 33.8% | 3.3% | 45.2% | 62.5% | 57.0% | 51.4% |
| Margen Neto | 11.6% | 1.4% | -18.7% | -8.9% | -4.0% | -34.8% | 23.7% | 33.7% | 21.8% | 20.1% |
| Margen FCF | -84.2% | -23.2% | 10.7% | 13.7% | 2.7% | -1.5% | -5.2% | 10.4% | -43.2% | -28.3% |
| Tasa Impositiva Efectiva | 0.0% | 707.0% | 0.9% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF por Acción | $-23.89 | $-7.23 | $3.25 | $4.63 | $0.92 | $-0.41 | $-1.59 | $3.15 | $-11.77 | $-7.60 |
| Dividendo por Acción | $2.38 | $2.35 | $2.55 | $2.78 | $2.49 | $1.85 | $1.55 | $2.10 | $2.43 | $2.02 |
| Acciones en Circulación (Básicas) | $17.0M | $16.9M | $17.4M | $17.8M | $18.8M | $19.7M | $28.0M | $29.5M | $29.5M | $29.7M |
Qué mirar en Industrials
Aeroespacial, defensa, maquinaria, transporte. Semi-cíclicos. Clave: backlog, márgenes operativos, y conversión de FCF.
- Crecimiento ingresos 5y — Sin crecimiento, no hay creación de valor a largo plazo
- Margen operativo — El mejor indicador de disciplina operativa en industriales
- ROIC — Industriales de calidad tienen ROIC >15% — el resto destruyen capital
- FCF conversion — FCF / Net Income — en industriales bueno >85%
- Deuda neta / EBITDA — Industriales cíclicos con deuda alta sufren mucho en recesión
- Capex / Ingresos — Mantener la maquinaria. <4% = posible infraversión (deterioro futuro)
- Altman Z-Score — Modelo de bankruptcy (NYU 1968) — combina liquidez, apalancamiento y rentabilidad. Clave en cíclicos
Rentabilidad
| Rentabilidad sobre capital | 11.48% |
| Rentabilidad sobre capital invertido | 6.91% |
| Rentabilidad sobre activos | 4.99% |
| Margen bruto | 39.51% |
| Margen operativo | 34.29% |
| Margen neto | 24.77% |
Salud financiera
| Deuda / Patrimonio | 1.10 |
| Ratio corriente | 0.00 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 7.13 | 45.22 | -2.34 | -7.29 | -5.86 | -0.75 | 2.81 | 2.46 | 3.45 | 4.10 |
| P/VC | 0.28 | 0.23 | 0.16 | 0.27 | 0.11 | 0.11 | 0.32 | 0.41 | 0.30 | 0.30 |
| P/V | 0.83 | 0.65 | 0.44 | 0.65 | 0.23 | 0.26 | 0.55 | 0.74 | 0.64 | 0.68 |
| Margen Bruto | 24.0% | 19.4% | 12.3% | 23.6% | 25.0% | 0.3% | 33.3% | 41.7% | 34.2% | 35.4% |
| Margen Operativo | 18.6% | 12.0% | -5.3% | 14.4% | 15.0% | -5.7% | 29.8% | 37.9% | 28.6% | 30.1% |
| Margen Neto | 11.6% | 1.4% | -18.7% | -8.9% | -4.0% | -34.8% | 23.7% | 33.7% | 21.8% | 20.1% |
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