Okeanis Eco Tankers Corp. (ECO) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: Okeanis Eco Tankers Corp.

Market cap $3B · 52 weeks $32 – $99 (0 % below the high) · P/E 9.4× · 2027 expected P/E 10.6× · Dividend 9.6 % · Next earnings November 11, 2026 · expected EPS $4.50 · Closing price, Oct 28 · accounts published Aug 4.

• Valuation: P/E 9.4× (no verdict).
• Business: ROIC 27 % (solid).
• Balance sheet: Net debt/EBITDA 3.0× (passes, near the threshold).
• Earnings: 8 of 8 (on track).

What would it be worth at its usual multiples?

No valuation verdict: it is a cyclical and today's P/E (9.4) does not tell whether it is cheap.

In cyclicals the P/E misleads: today's earnings are not the normal ones.

What matters in industrials: 7 of 10 pass

• FCF conversion 57.8 %, fails.
• Capex / Revenue 10.3 %, fails.
• P/E vs own 10y history 9.4×, fails.
• 5y revenue growth 6.6 %, passes.
• Operating margin 41.5 %, passes.
• ROIC 27.4 %, passes.
• Net debt / EBITDA 3.0×, passes, near the threshold.
• Altman Z-Score 2.5, passes.
• Piotroski F-Score 6 de 9, passes.
• Cycle-adjusted EV/EBITDA 8.6×, passes.

Against its peers (reference peers) — Okeanis Eco Tankers Corp.: P/E 9.4×; EV/EBITDA 8.6×; ROIC 27.4 %; $3.2B. Navios Maritime Partners L.P. (P/E 5.8×; EV/EBITDA 5.2×; ROIC 8.3 %; $2.5B), Thermon Group Holdings, Inc. (P/E 45.3×; EV/EBITDA 22.4×; ROIC 6.8 %; $2.0B), Star Bulk Carriers Corp. (P/E 11.4×; EV/EBITDA 7.5×; ROIC 9.2 %; $3.3B).

Expensive or cheap against its last 7 years?

P/E at each close: today 9.4× · median 7.9× · minimum 2.1× · maximum 19.8× · cheap below 6.6× · expensive above 12.7×. It has been cheaper than today 68% of the time over its last 7 years.

Dividend

tight · Yield 9.6 % ($2.17 per share in 2025) · paying since 2020 · 5-year growth +10 % a year · Free cash flow coverage 1.2× · With $1,000 invested today you'd collect $95.50 a year ($7.96 a month).