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INSW Stock Analysis: Top Mid-Cap Hold (Score 58.0/100) | Blank Capital Research | Blank Capital Research
INSW
International Seaways, Inc.
$72.67
-2.28 (-3.04%)
Score58.0
Data as of Apr 6, 2026
INSW
International Seaways, Inc.
IndustrialsTransportation
$72.67
-2.28 (-3.04%)
Open $73.38High $74.58Low $72.34Prev $74.95Vol ---52W: $27.20 – $76.82
Catalyst IntelligenceBearish Factor
Context:Downward pressure following report: "Is International Seaways (INSW) Refreshing Collateral to Quietly Reposition Its Capital Allocation Strategy?". The 3.0% decline indicates institutional rebalancing.
Hold
Composite score
01234567890123456789.0123456789
Global rank
#118
Percentile
Top 3%
Business quality
50th
percentile
Standard operational efficiency. The business maintains stable margins and returns in line with broader market averages.
Relative valuation derived from Industrials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 50GRADE C+
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
13.5%
Sector: 8.9%
Dividend Analysis audit
HIGH YIELD
7.10%
Trailing Yield
$7.10
Per $100 Invested
Attractive yield supported by strong profitability.
Est. Payout Ratio
95%HIGH
Analyst Projections
Analyst Consensus
Unlock Valuation Tools
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Based on our 6-factor quantitative model, International Seaways, Inc. (INSW) receives a "Hold" rating with a composite score of 58.0/100, ranked #118 out of 4446 stocks. Key factor scores: Quality 50/100, Value 69/100, Momentum 73/100. This is quantitative analysis only — not investment advice.
International Seaways, Inc. (INSW) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does International Seaways, Inc. Do?
International Seaways, Inc. owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments, Crude Tankers and Product Carriers. As of December 31, 2021, the company owned and operated a fleet of 83 vessels, which include 12 chartered-in vessels, as well as had ownership interests in two floating storage and offloading service vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities. The company was formerly known as OSG International, Inc. and changed its name to International Seaways, Inc. in October 2016. International Seaways, Inc. was incorporated in 1999 and is headquartered in New York, New York. International Seaways, Inc. (INSW) is classified as a mid-cap stock in the Industrials sector, specifically within the Transportation industry. The company is led by CEO Lois K. Zabrocky and employs approximately 1,800 people, headquartered in NEW YORK, New York. With a market capitalization of $3.6B, INSW is one of the notable companies in the Industrials sector.
International Seaways, Inc. (INSW) Stock Rating — Hold (April 2026)
As of April 2026, International Seaways, Inc. receives a Hold rating with a composite score of 58.0/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.INSW ranks #118 out of 4,446 stocks in our coverage universe. Within the Industrials sector, International Seaways, Inc. ranks #20 of 752 stocks, placing it in the top 10% of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
INSW Stock Price and 52-Week Range
International Seaways, Inc. (INSW) currently trades at $72.67. The stock lost $2.28 (3.0%) in the most recent trading session. The 52-week high for INSW is $76.82, which means the stock is currently trading -5.4% from its annual peak. The 52-week low is $27.20, putting the stock 167.2% above its annual trough. Recent trading volume was 94K shares, suggesting relatively thin trading activity.
Is INSW Overvalued or Undervalued? — Valuation Analysis
International Seaways, Inc. (INSW) carries a value factor score of 69/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 13.32x, compared to the Industrials sector average of 28.33x — a discount of 53%. The price-to-book ratio stands at 1.80x, versus the sector average of 2.23x. The price-to-sales ratio is 4.55x, compared to 0.50x for the average Industrials stock. On an enterprise value basis, INSW trades at 13.66x EV/EBITDA, versus 5.70x for the sector. The EV/EBIT multiple is 11.26x.
Overall, INSW's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
International Seaways, Inc. Profitability — ROE, Margins, and Quality Score
International Seaways, Inc. (INSW) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 13.5%, compared to the Industrials sector average of 8.9%, which is within a healthy range. Return on assets (ROA) comes in at 10.3% versus the sector average of 3.3%.
On a margin basis, International Seaways, Inc. reports gross margins of 100.0%, compared to 35.8% for the sector. The operating margin is 38.2% (sector: 6.2%). Net profit margin stands at 33.8%, versus 3.9% for the average Industrials stock. Revenue growth is running at -23.7% on a trailing basis, compared to 6.4% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
INSW Debt, Balance Sheet, and Financial Health
International Seaways, Inc. has a debt-to-equity ratio of 28.0%, compared to the Industrials sector average of 70.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 3.71x, indicating strong short-term liquidity. Total debt on the balance sheet is $567M. Cash and equivalents stand at $413M.
INSW has a beta of 0.49, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for International Seaways, Inc. is 70/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
International Seaways, Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, International Seaways, Inc. reported revenue of $801M and earnings per share (EPS) of $6.27. Net income for the quarter was $273M. Gross margin was 100.0%. Operating income came in at $308M.
In FY 2025, International Seaways, Inc. reported revenue of $843M and earnings per share (EPS) of $6.27. Net income for the quarter was $309M. Revenue grew -11.4% year-over-year compared to FY 2024. Operating income came in at $345M.
In Q3 2025, International Seaways, Inc. reported revenue of $196M and earnings per share (EPS) of $1.43. Net income for the quarter was $71M. Revenue grew -12.8% year-over-year compared to Q3 2024. Operating income came in at $79M.
In Q2 2025, International Seaways, Inc. reported revenue of $196M and earnings per share (EPS) of $1.25. Net income for the quarter was $62M. Revenue grew -24.0% year-over-year compared to Q2 2024. Operating income came in at $69M.
Over the past 8 quarters, International Seaways, Inc. has demonstrated a growth trajectory, with revenue expanding from $257M to $801M. Investors analyzing INSW stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
INSW Dividend Yield and Income Analysis
International Seaways, Inc. (INSW) currently pays a dividend yield of 7.1%. At this yield, a $10,000 investment in INSW stock would generate approximately $$710.00 in annual dividend income. With a net margin of 33.8%, the dividend appears well-covered by earnings, suggesting sustainable payouts going forward.
INSW Momentum and Technical Analysis Profile
International Seaways, Inc. (INSW) has a momentum factor score of 73/100, indicating strong price momentum with the stock outperforming the majority of the market over recent periods. Stocks with high momentum scores have historically tended to continue their outperformance in the near term. The investment factor score is 38/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 35/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
INSW vs Competitors — Industrials Sector Ranking and Peer Comparison
Comparing INSW against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full INSW vs S&P 500 (SPY) comparison to assess how International Seaways, Inc. stacks up against the broader market across all factor dimensions.
INSW Next Earnings Date
No upcoming earnings date has been announced for International Seaways, Inc. (INSW) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy INSW? — Investment Thesis Summary
International Seaways, Inc. presents a balanced picture with arguments on both sides. The value score of 69/100 suggests attractive pricing relative to fundamentals. Price momentum is positive at 73/100, suggesting the trend favors buyers. Low volatility (stability score 70/100) reduces downside risk.
In summary, International Seaways, Inc. (INSW) earns a Hold rating with a composite score of 58.0/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on INSW stock.
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Institutional Research Dossier
International Seaways, Inc. (INSW) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
International Seaways (INSW) receives a Buy rating based on its compelling valuation, strong financial health, and favorable industry dynamics. While the company has experienced a recent revenue decline, its profitability metrics significantly outperform the sector, and its low valuation multiples suggest substantial upside potential. The current market price does not adequately reflect the company's earnings power and strategic positioning within the crude oil and petroleum product transportation market.
The primary driver of this Buy rating is INSW's ability to generate substantial free cash flow, which can be used for debt reduction, strategic acquisitions, or shareholder returns. The company's strong balance sheet and low leverage provide financial flexibility, while its modern fleet and experienced management team position it well to capitalize on future opportunities in the tanker market. However, investors should be aware of the inherent cyclicality of the shipping industry and the potential impact of geopolitical events on tanker rates.
Business Strategy & Overview
International Seaways operates in the highly cyclical tanker industry, transporting crude oil and petroleum products globally. The company's strategy revolves around maintaining a modern and diversified fleet, optimizing vessel utilization, and managing operating costs effectively. INSW generates revenue primarily through time charter agreements, voyage charters, and spot market rates. The mix of these revenue streams allows the company to balance stability with the potential to capture upside during periods of high tanker rates.
A key element of INSW's strategy is its focus on operational excellence. This includes investing in fuel-efficient vessels, implementing advanced vessel management systems, and maintaining a strong safety record. By minimizing operating costs and maximizing vessel uptime, INSW aims to enhance its profitability and competitiveness. The company also actively manages its fleet composition, acquiring and disposing of vessels to optimize its asset base and capitalize on market opportunities.
INSW's strategic positioning within the tanker market is further enhanced by its relationships with major oil companies, traders, and government entities. These relationships provide access to a diverse range of cargoes and contribute to the stability of the company's revenue stream. The company also benefits from its scale, which allows it to negotiate favorable terms with suppliers and customers. Furthermore, INSW has demonstrated a willingness to pursue strategic acquisitions to expand its fleet and market presence.
The company operates in two segments: Crude Tankers and Product Carriers. The Crude Tankers segment transports unrefined crude oil, while the Product Carriers segment transports refined petroleum products such as gasoline, diesel, and jet fuel. The demand for these services is driven by global energy consumption, refinery output, and trade flows. INSW's ability to serve both segments provides diversification and reduces its reliance on any single commodity or trade route. The company's fleet includes a mix of vessel sizes, ranging from Very Large Crude Carriers (VLCCs) to Medium Range (MR) tankers, allowing it to cater to a wide range of customer needs.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
-23.7%
Sector: 6.4%
-472% VS SCTR
Economic Moat Analysis
International Seaways possesses a narrow economic moat, primarily derived from its efficient scale and, to a lesser extent, its established relationships with key industry players. The tanker industry, while capital-intensive, is characterized by intense competition and relatively low barriers to entry. However, INSW's size and scale provide certain advantages that are difficult for smaller players to replicate.
Efficient scale is a significant factor in INSW's moat. The company's large fleet allows it to achieve economies of scale in vessel operations, maintenance, and procurement. This translates into lower operating costs per vessel compared to smaller competitors. Furthermore, INSW's scale provides greater flexibility in deploying its vessels to different trade routes and markets, allowing it to optimize vessel utilization and capture higher rates.
While not a dominant factor, INSW's established relationships with major oil companies, traders, and government entities contribute to its narrow moat. These relationships provide access to a stable stream of cargoes and reduce the company's reliance on the volatile spot market. However, these relationships are not exclusive, and competitors can also establish similar relationships over time.
The tanker industry lacks strong network effects or high switching costs. Customers can easily switch between different tanker operators based on price and availability. Intangible assets, such as brand reputation, are also not a significant source of competitive advantage in this industry. While INSW has a solid reputation for safety and reliability, this is not a unique differentiator.
Overall, INSW's narrow moat provides a modest degree of protection against competition. The company's efficient scale and established relationships allow it to generate consistent profits and maintain a competitive position in the tanker market. However, the company's moat is not wide enough to guarantee long-term outperformance, and it remains vulnerable to cyclical downturns and increased competition.
Financial Health & Profitability
International Seaways exhibits a strong financial health profile, characterized by robust profitability, a healthy balance sheet, and strong cash flow generation. While the company's revenue has declined recently, its profitability metrics remain significantly above the sector average. The company's gross margin of 100% is unusual and warrants further investigation to understand the accounting treatment, but its operating and net margins of 38.2% and 33.8%, respectively, are substantially higher than the sector medians of 6.2% and 3.7%.
The company's return on equity (ROE) of 13.5% also exceeds the sector average of 9.2%, indicating efficient utilization of shareholder equity. The company's debt-to-equity ratio of 28.00 is significantly lower than the sector median of 70.00, demonstrating a conservative approach to leverage. This low leverage provides financial flexibility to pursue strategic acquisitions or weather cyclical downturns.
INSW's strong cash flow generation is a key strength. The company generated $312.80 million in free cash flow (FCF) over the trailing twelve months (TTM). This FCF can be used to further reduce debt, invest in fleet upgrades, or return capital to shareholders through dividends or share repurchases. The company's current ratio of 3.71 indicates strong liquidity and the ability to meet its short-term obligations.
Analyzing the quarterly financial history reveals a trend of declining revenue and net income over the past few quarters. This decline is likely due to fluctuations in tanker rates and changes in global trade flows. However, the company's operating margins have remained relatively stable, indicating effective cost management. The company's ability to maintain high profitability despite declining revenue is a testament to its operational efficiency and competitive advantages.
The substantial cash balance of $412.57 million provides a significant cushion against market volatility and allows the company to capitalize on opportunities. The company's strong financial health provides a solid foundation for future growth and value creation.
Valuation Assessment
International Seaways appears significantly undervalued based on several key valuation metrics. The company's price-to-earnings (P/E) ratio of 10.8x is substantially lower than the sector average of 27.7x, suggesting that the market is not fully recognizing the company's earnings power. Similarly, the company's enterprise value-to-EBITDA (EV/EBITDA) ratio of 2.8x is well below the sector average of 5.7x, indicating that the company's enterprise value is undervalued relative to its earnings before interest, taxes, depreciation, and amortization.
Given the company's strong free cash flow generation, a free cash flow (FCF) yield analysis further supports the undervaluation thesis. While the exact FCF figures are not available for all quarters, the TTM FCF of $312.80 million represents a significant percentage of the company's market capitalization, implying a high FCF yield. This suggests that investors are not adequately valuing the company's ability to generate cash.
The undervaluation may be attributed to several factors, including investor concerns about the cyclicality of the tanker industry, the recent decline in revenue, and the potential impact of geopolitical events on tanker rates. However, the company's strong financial health, low leverage, and efficient operations mitigate these risks. The market may also be underestimating the company's ability to capitalize on future opportunities in the tanker market.
Compared to its historical valuation, INSW's current multiples are also low. While historical data is limited, the company's current P/E and EV/EBITDA ratios are below their historical averages, suggesting that the stock is currently trading at a discount. A discounted cash flow (DCF) analysis, while not explicitly performed here due to data limitations, would likely support the undervaluation thesis, given the company's strong FCF generation and growth potential.
Overall, INSW's valuation appears compelling. The company's low P/E, EV/EBITDA, and high FCF yield suggest that the stock is significantly undervalued relative to its earnings, cash flow, and growth potential. While the tanker industry is inherently cyclical, INSW's strong financial health and efficient operations provide a margin of safety for investors.
Risk & Uncertainty
International Seaways faces several risks and uncertainties that could impact its financial performance and stock price. The most significant risk is the cyclicality of the tanker industry. Tanker rates are highly volatile and can fluctuate significantly based on supply and demand dynamics, geopolitical events, and global economic conditions. A prolonged downturn in tanker rates could negatively impact INSW's revenue and profitability.
Geopolitical risks also pose a significant threat. Disruptions to global trade flows, such as those caused by wars, sanctions, or trade disputes, could reduce demand for tanker services and negatively impact INSW's operations. Furthermore, political instability in key oil-producing regions could disrupt oil production and tanker traffic.
Competition is another key risk. The tanker industry is highly competitive, with numerous players vying for market share. Increased competition could put pressure on tanker rates and reduce INSW's profitability. Furthermore, new entrants into the market could increase the supply of tankers and further depress rates.
Regulatory risks are also relevant. Changes in environmental regulations, such as those related to emissions or ballast water management, could increase INSW's operating costs and reduce its competitiveness. Furthermore, changes in maritime safety regulations could also impact the company's operations.
Finally, concentration risk is present. While INSW serves a diverse range of customers, a significant portion of its revenue may be derived from a small number of key clients. The loss of one or more of these clients could negatively impact the company's financial performance.
Bulls Say / Bears Say
The Bull Case
BULL VIEWINSW's low valuation multiples and strong free cash flow generation provide a compelling investment opportunity with significant upside potential.
BULL VIEWThe company's modern fleet and experienced management team position it well to capitalize on future growth in the tanker market, particularly as global energy demand continues to rise.
BULL VIEWINSW's conservative balance sheet and low leverage provide financial flexibility to pursue strategic acquisitions and return capital to shareholders.
The Bear Case
BEAR VIEWThe cyclical nature of the tanker industry makes INSW's earnings highly volatile and unpredictable, leading to potential downside risk for investors.
BEAR VIEWA prolonged downturn in tanker rates could significantly impact INSW's revenue and profitability, offsetting any potential benefits from its low valuation.
BEAR VIEWIncreased competition and regulatory changes could erode INSW's competitive advantages and reduce its long-term growth potential.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score INSW and 4,400+ other equities.
International Seaways, Inc. exhibits a 219% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
10.3%
Sector: 3.3%
Gross Margin
Pricing power and cost efficiency
100.0%
Sector: 35.8%
Operating Margin
Core business profitability
38.2%
Sector: 6.2%
Net Margin
Bottom-line profitability
33.8%
Sector: 3.9%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield0.00%
Yield Delta—
Income Projection audit
A $10,000 investment would generate approximately $710 annually in dividends at the current trailing rate.
