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What we know about this company
Open this Idea →International Seaways, Inc.
View: price may rise
our belief 8/10 · confidence score 76/100
Our longer-term business view, not a prediction for this week.
May rise over the next 3 months. Open for the simple explanation.
Why we are waiting
The latest research review is too old and needs an update.
Next check: Complete a new dated research review.
The idea was last reviewed 10 days ago. The limit is 5 days. Whether Q3 realized spot earnings and the next variable dividend declaration show the cycle is durable rather than temporary. Then update the item listed below.
International Seaways is a pure-play crude and product tanker owner whose policy is to return at least 85% of adjusted net income to shareholders. Q2 2026 EPS was $5.91 (beat), and trailing-twelve-month declared dividends of $12.61/share equate to roughly a 21% yield, alongside a fresh $50M buyback. The crude tanker cycle is running hot for structural, not speculative, reasons: sanctions on Russian barrels have rerouted flows onto longer voyages, extending tonne-miles; late-2025 VLCC earnings peaked above $100,000/day and rates sit ~60% above the 10-year average, with the Cal-2026 TD3c FFA around $71,000/day. The market applies a deep discount to NAV and to the variable dividend because it assumes rates mean-revert, but as long as rerouting persists, the payout plus buyback should drive total return well above where the multiple implies. This is saved analyst research, not a ready conclusion.
The research view is strong at 8/10, but this Idea is still being checked. It is not a current opportunity until every required fact is complete.
View unchanged Sep 2, 2026 · research strength 8/10 — full saved wording is in the research history
$103.65
last session
Quarterly results window begins in 50 days · Nov 1–10 · Range not confirmed
International Seaways owns about 70 oil tankers and rents them out to move crude oil and fuel around the world. It makes real money today: last quarter (Q2 2026) it earned $295 million in profit on $467 million of revenue and paid owners a $5.05-per-share dividend — one of the biggest payouts of any US stock. The reason profits are so high is that sanctions on Russian and Iranian oil force tankers to sail longer routes, so ships are scarce and daily rental rates are near record highs. The company barely uses debt and holds about $935 million of cash and credit, so it is in no danger of trouble. The one thing that has to keep going right: tanker rates must stay high. The one thing that could go wrong: those rates always eventually fall, and the dividend falls with them — and the stock has already more than doubled to about $100, above what the company's ships are worth on paper, so buyers today are paying up right as the cycle looks late.
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The open Idea research history is on the idea page.
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Current active Idea · Record saved Aug 11, 2026 · check date unavailable. The original research wording and date checks stay available inside.
These events and risks belong to TickerYou’s current Idea.
An event can change what investors believe. A risk shows how our research could be wrong. The countdown is to the start of a window, not a promised event day.
Watch for a company announcement that confirms, narrows, moves, or cancels this window.
Computed by TickerYou from 1254 completed daily closing sessions supplied by Yahoo Finance, through Sep 10, 2026. The Sep 11, 2026 quote-session candle was excluded because a delayed feed cannot prove it was final. No company fundamentals enter this reading.
The price has been trending up across both the medium and longer term.
Price movement can help with timing and can warn when the market disagrees with our Idea. It does not tell us what the business is worth.
Watch whether the close holds above the 50-session average at $93.63; the 200-session average at $74.83 is the slower reference.
Last closing price
$102.14
Sep 10, 2026
Average price over 20 trading days
$99.78
Close is 2.4% above this average
Average price over 50 trading days
$93.63
Close is 9.1% above this average
Average price over 200 trading days
$74.83
Close is 36.5% above this average
Recent price speed
59.3 · balanced
A 14-day speed reading; lower than 30 is low and higher than 70 is high
Is the trend speeding up?
Above signal
Shows whether the shorter trend is pulling ahead of or behind the longer one
The moving averages are simple averages over exactly 20, 50, and 200 daily trading sessions. RSI uses Wilder's 14-session smoothing; a flat series is neutral at 50. MACD uses 12- and 26-session exponential averages with a 9-session signal. A window is never shortened when history is missing. Every comparison uses the final dated daily close—not an intraday quote—so all figures share one observation boundary. A candle dated to an active delayed-quote session is excluded because it may still be changing. These are trend and momentum references, not a Buy/Sell score.
Complete SEC 13F filings only. These delayed reports show filed share amounts, not a manager’s full portfolio, intent, or a proven trade.
1 of 14 recent complete filings report ordinary shares. Compared with the prior report: 1 with fewer shares and 1 that no longer report it.
A large, repeated position can support a research story, but these filings arrive late and do not show an investor’s full portfolio or reason for owning the stock.
Look for the same investor to keep a meaningful position across several reports.
No numeric score or recommendation is made from these delayed filings. They are one piece of background evidence, not a buy or sell signal.
14 current complete filings of 16 tracked managers. 2 investors have only an older filing and are left out of this current view. Current holding dates span Mar 31, 2026 to Jun 30, 2026.
INSW is 0.00% of Citadel Advisors's disclosed portfolio ($5.58 M). Holdings as of Jun 30, 2026. Reported in all 2 quarters we can see.
Market-neutral / multi-strategy: Citadel often reports shares, calls, and puts at the same time. These rows show reported exposure, not a simple bullish or bearish bet.
Citadel Advisors (Ken Griffin) reports a CALL option ($3.37 M). The filing does not prove whether it is a bet or a hedge, so options never count as ordinary shares above.
Citadel Advisors (Ken Griffin) reports a PUT option ($8.16 M). The filing does not prove whether it is a bet or a hedge, so options never count as ordinary shares above.
1 lower reported, 1 absent. Reported amounts only; corporate actions are not normalized.
Reported by 1 of 14 managers with a current filing; at least 0.5% of disclosed 13F value for 0.
Largest reported position: Citadel Advisors (Ken Griffin) at 0.00% of disclosed 13F value ($5.58 M).
Across 6 quarters of stored filings: 0 newly or higher comparisons, 6 lower or absent, 0 unchanged, across 2 managers. Corporate actions are not normalized.
No numeric score is shown: filing comparisons are not adjusted for splits or other corporate actions, so reported changes cannot be treated as trades.
13Fs can arrive up to 45 days after quarter end. They omit short positions, cash, and securities outside the SEC's 13(f) list. Higher, lower, new, and absent describe filed share amounts, not proven purchases or sales; splits and other corporate actions are not normalized. This is context for a thesis, never a call by itself.
1M
3M
6M
1Y
Computed from SEC filings — never model output. Blank means it cannot be computed honestly.
Revenue grew 57.4% versus the comparable filing period, while operating margin was 64.2%.
Revenue shows whether demand is expanding, while operating and free-cash-flow margins show how much of those sales becomes profit and cash. Net cash or debt affects how resilient that result is.
Watch whether future free cash flow reduces net debt while growth and margins hold.
Every figure comes from an SEC filing and carries the day it was measured. Nothing here is estimated.
The filed share count increased 0.33% over roughly a year. That is dilution: each existing share represents a smaller percentage ownership slice.
A growing business can still deliver weak per-share progress when the share count grows too. The count says what happened to ownership slices, not why the company issued shares.
Watch the next filing cover page and the cash-flow and stock-compensation disclosures to see whether issuance continues and what caused it.
49.53 M
total shares when last reported · Aug 6, 2026 · 37 days ago
Three checks use SEC filings alone. The net-buyback check requires matching stated filing and quote currencies, a compatible single-ticker SEC share-unit receipt, and a dated provider quote; its row explains any refusal. One dated deep-review judgement is marked researched; missing checks are excluded, never treated as zero.
A score requires both core checks — what the share count did and pay in stock versus revenue — plus at least one other established check. Missing core check: pay in stock, vs revenue.
A company can grow while each shareholder owns a smaller slice. Share issuance and stock pay can offset part of the business gain.
Establish the missing core check first; other unestablished checks: buybacks net of new stock sold; room left under the charter.
+0.3% between the 2025-08-04 and 2026-08-06 filing cover pages.
the two figures cover different periods, and a ratio across mismatched periods would be invented
stock sold is untagged — and missing is not zero, so no net can be computed
The deep review’s dated judgement (published Aug 20, 2026; evidence cutoff unavailable): how much of a 1% ownership slice at that review could survive through its horizon.
authorized shares are measured on 2026-06-30 while outstanding shares are measured on 2026-08-06; different dates cannot establish current headroom
review saved Aug 20, 2026 · check date unavailable
The company has about 49.5 million shares, and insiders and directors hold a meaningful slice — roughly 17% per ownership trackers, with detail in the 2026 proxy (DEF 14A). Management funds the business from its own cash, not by selling new stock: there is no active share-sale program or fresh share issuance in evidence, and employee stock pay is modest. The main way it returns money is the big variable dividend (at least 85% of profit), alongside a small $50 million buyback that only slightly trims the share count. For a shareholder that means your slice of the company is not being watered down — it stays roughly the same size. The upside comes from the dividend, not from a shrinking share count, and the main risk to your slice is the dividend itself falling if tanker rates drop, not dilution.
A conditional model using SEC filings and a delayed-market quote from Yahoo Finance for the Sep 11, 2026 session. It is not a market forecast or analyst consensus.
At today’s price, this simple model needs sales to grow about -15% each year for three years.
A high number means the company must grow quickly to justify today's price. A low number gives the business more room to disappoint.
Watch sales growth and operating profit. If either changes, this required-growth number can change too.
At today's price, the whole operating business is valued at $5.6B after debt and cash. Under this simple model, the price only adds up if sales grow ≈-15% a year for the next 3 years while operating profit stays near 64% of sales. This is a simple test, not a prediction.
The earlier review did not establish a usable sales-growth range. review saved Aug 20, 2026 · check date unavailable.
The SEC’s structured data establishes the total share count but carries no count of the shares structurally excluded from ordinary trading. Control and affiliate holdings, restricted stock and locked-up shares are disclosed publicly — in proxy statements, prospectuses and 8-Ks — as prose with no tag to read them from, and have not been researched into a figure this card can pair with the total above.
Share count increased 0.33% — dilution risk: each existing share owns a smaller percentage of the company.
Both counts in full, exactly as each cover page printed them, and both bars measured from zero against the larger — so a small move looks small.
measured Jun 30, 2025, 14 months ago — from the 10-K filed Feb 26, 2026
Market value of shares held by non-affiliates under the SEC filing definition. This is a dollar amount, not a share count. It is never converted into one to fill the line above.
Not researched yet. Release dates, tranche sizes, the shares issued at IPO and the insider breakdown are prose in the prospectus and in 8-Ks, with no XBRL tag to read them from. They appear here once TickerYou research can quote the source clause behind each figure—never estimated in the meantime.
The model: value the business in 3 years at 15× that year's operating income (the latest reported margin held constant), discount back at 10% a year, and solve for the revenue growth that makes it equal the quoted enterprise value. The three constants are fixed across every company — deliberately crude, so the figure means the same thing everywhere. It cannot price pre-profit names, ignores margin change and buybacks, and treats the exit multiple as settled; read it as a yardstick, not a valuation.
Mechanical sensitivity · not forecasts
≈-2.5%/yr
at 10× exit
≈-14.8%/yr
at 15× exit
≈-22.6%/yr
at 20× exit
A lower exit value requires more growth. This range exposes how strongly the result depends on one assumption; it does not predict where the stock will trade.
Each quarter is named by the fiscal quarter the company itself reported — the label its release used and its consensus estimate was quoted against — and by the month that quarter ended, taken from the filer's own XBRL period boundaries. A fiscal year need not follow the calendar, so Apple's Q2 runs January to March; naming the quarter end keeps that true in both calendars, and no quarter number is ever inferred from a date. Quarterly financials beside this card names the same quarter the same way. TickerYou takes the figures from the release and its filing; every word, sign and percentage is calculated by the app from those stored numbers. A post-release reaction appears only with the stored first-close measurement stamp; otherwise the card says the window is not established and computes no divergence. EPS here is on the basis consensus quotes — adjusted for most US names — so it can legitimately differ from the GAAP figure in Quarterly financials. Rows marked [backfilled] were confirmed from archived coverage after the fact — a lower evidence tier than live capture, and labelled so.
Q2 FY2026 · Jun 2026: EPS beat the stored consensus estimate, while revenue beat the stored consensus estimate. The first stamped post-release close moved down 2.2%.
A surprise shows how the release differed from expectations, not whether the business is good or the thesis is right. The price reaction shows repricing, not its cause.
Watch whether the next comparable release confirms the result; one beat or market move does not establish a durable trend.
Quarter ended Jun 30, 2026 · Reported Aug 10, 2026 · post-release reaction · muted · 1.2× typical
Quarter ended Mar 31, 2026 · Reported May 7, 2026 · stock move after results · not shown
[backfilled] Record quarter driven by surging crude and product tanker spot rates — adjusted net income of $194M quadrupled year-over-year, adjusted EBITDA hit $244M, and the company declared its largest-ever combined quarterly dividend of $4.55/share; management flagged Strait of Hormuz volatility as a near-term uncertainty but said underlying market fundamentals remain favorable.
Quarter ended Dec 31, 2025 · Reported Feb 26, 2026 · stock move after results · not shown
[backfilled] Adjusted diluted EPS of $2.45 cleared consensus by $0.51 and revenue of $267.9M exceeded estimates by ~7%; the company declared its largest-ever quarterly dividend of $2.15/share, topping $1B in cumulative shareholder returns since 2020.
Quarter ended Sep 30, 2025 · Reported Nov 6, 2025 · stock move after results · not shown
[backfilled] Adjusted EBITDA of $108M came in ahead of estimates driven by stronger tanker rates; fleet renewal accelerated with two LR1 newbuild deliveries and five older-vessel sales, $250M unsecured bond issuance lifted total liquidity to $985M, and a combined dividend of $0.86/share was declared for December payment.
Quarter ended Jun 30, 2025 · Reported Aug 6, 2025 · stock move after results · not shown
Computed from SEC filings — never model output. Each quarter is named by the fiscal quarter the company itself reported and the month that quarter ended, through the same resolver the Earnings card beside this one uses; where no release established a fiscal label, the quarter is named by its end alone rather than by a quarter number guessed from the date. EPS is GAAP diluted, as filed, so it can legitimately differ from the adjusted figure in the Earnings card (consensus is quoted adjusted). Y/Y compares the same fiscal quarter a year earlier; a comparison that cannot be made honestly is an em-dash that says why.
Q2 FY2026 · Jun 2026: Revenue grew 138.8% year over year; net income grew 378.4% year over year; and net profit margin was 63.1%, up 31.6 percentage points.
Comparing the same fiscal quarter a year earlier controls for seasonality. Revenue direction and margin direction together show whether sales are translating into profit, but one quarter is evidence—not a complete thesis.
Watch whether the next comparable quarter confirms both the sales direction and the margin direction.
International Seaways delivered record Q2 2026 net income of $295M ($5.91 diluted EPS) on shipping revenues of $467M, with Adjusted EBITDA of $345M; the company declared its largest-ever quarterly dividend of $5.05/share, payable September 24, 2026, reflecting substantially stronger tanker rates year-over-year.
[backfilled] Adjusted EPS of $1.02 beat the ~$0.93 consensus despite a 24% year-over-year revenue decline as spot tanker rates retreated sharply from 2024 peaks; GAAP EPS of $1.25 was lifted by gains from selling six older vessels in a fleet-optimization program, and adjusted EBITDA fell to $102M from $167M in Q2 2024.
| (USD) | Q2 FY2026Quarter ended Jun 2026 | vs last year |
|---|---|---|
| Revenue | $467.29 M | |
| Profit after costs | $294.93 M | |
| Profit per share | 5.91 | |
| Profit margin | 63.1% |
† derived: the fiscal year minus its three reported quarters — no 10-K reports a Q4 figure directly. For EPS this assumes per-share figures add across the year.
| Quarter | Revenue | Y/Y | Net income | Margin |
|---|---|---|---|---|
| Q1 FY2026 · Mar 2026 | $325.48 M | $286.14 M | 87.9% | |
| Q4 FY2025 · Dec 2025 | $267.88 M † | $127.50 M † | 47.6% | |
| Q3 FY2025 · Sep 2025 | $196.39 M | $70.55 M | 35.9% | |
| Q2 FY2025 · Jun 2025 | $195.64 M | $61.65 M | 31.5% | |
| Mar 2025 | $183.39 M | $49.56 M | 27.0% | |
| Dec 2024 | $194.61 M † | $35.82 M † | 18.4% | |
| Sep 2024 | $225.19 M | $91.69 M | 40.7% | |
| Jun 2024 | $257.41 M | $144.72 M | 56.2% |