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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: 49.8GRADE 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
91.9%
Sector: 8.9%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, TEEKAY TANKERS LTD. (TNK) receives a "Buy" rating with a composite score of 62.4/100, ranked #59 out of 4446 stocks. Key factor scores: Quality 50/100, Value 97/100, Momentum 71/100. This is quantitative analysis only — not investment advice.
TEEKAY TANKERS LTD. (TNK) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does TEEKAY TANKERS LTD. Do?
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products. It also provides tanker commercial and technical management services. As of December 31, 2021, the company owned and leased 48 double-hull oil tankers, time-chartered in two Aframax tankers, and one LR2 tanker. Teekay Tankers Ltd. was incorporated in 2007 and is headquartered in Hamilton, Canada. TEEKAY TANKERS LTD. (TNK) is classified as a mid-cap stock in the Industrials sector, specifically within the Transportation industry. The company is led by CEO Kevin J. Mackay and employs approximately 1,900 people. With a market capitalization of $2.5B, TNK is one of the notable companies in the Industrials sector.
As of April 2026, TEEKAY TANKERS LTD. receives a Buy rating with a composite score of 62.4/100 and 4 out of 5 stars from the Blank Capital Research quantitative model.TNK ranks #59 out of 4,446 stocks in our coverage universe. Within the Industrials sector, TEEKAY TANKERS LTD. ranks #7 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%).
TNK Stock Price and 52-Week Range
TEEKAY TANKERS LTD. (TNK) currently trades at $73.96. The stock lost $0.91 (1.2%) in the most recent trading session. The 52-week high for TNK is $77.50, which means the stock is currently trading -4.6% from its annual peak. The 52-week low is $33.35, putting the stock 121.8% above its annual trough. Recent trading volume was 507K shares, suggesting relatively thin trading activity.
Is TNK Overvalued or Undervalued? — Valuation Analysis
TEEKAY TANKERS LTD. (TNK) carries a value factor score of 97/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 6.31x, compared to the Industrials sector average of 28.33x — a discount of 78%. The price-to-book ratio stands at 1.52x, versus the sector average of 2.23x. The price-to-sales ratio is 0.54x, compared to 0.50x for the average Industrials stock. On an enterprise value basis, TNK trades at 1.13x EV/EBITDA, versus 5.70x for the sector.
Based on these multiples, TEEKAY TANKERS LTD. appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
TEEKAY TANKERS LTD. Profitability — ROE, Margins, and Quality Score
TEEKAY TANKERS LTD. (TNK) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 91.9%, compared to the Industrials sector average of 8.9%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 81.8% versus the sector average of 3.3%.
On a margin basis, TEEKAY TANKERS LTD. reports gross margins of 67.0%, compared to 35.8% for the sector. The operating margin is 30.9% (sector: 6.2%). Net profit margin stands at 32.8%, versus 3.9% for the average Industrials stock. The overall profitability profile is adequate, though there may be room for margin expansion.
TNK Debt, Balance Sheet, and Financial Health
TEEKAY TANKERS LTD. has a debt-to-equity ratio of 0.0%, 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 5.66x, indicating strong short-term liquidity. Total debt on the balance sheet is $0. Cash and equivalents stand at $512M.
TNK has a beta of 0.53, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for TEEKAY TANKERS LTD. is 69/100, reflecting average volatility within the normal range for its sector.
TEEKAY TANKERS LTD. Revenue and Earnings History — Quarterly Trend
In TTM 2026, TEEKAY TANKERS LTD. reported revenue of $1.23B and earnings per share (EPS) of $11.73. Net income for the quarter was $404M. Gross margin was 67.0%. Operating income came in at $380M.
In FY 2024, TEEKAY TANKERS LTD. reported revenue of $1.23B and earnings per share (EPS) of $11.73. Net income for the quarter was $404M. Gross margin was 67.0%. Revenue grew -16.6% year-over-year compared to FY 2023. Operating income came in at $380M.
In FY 2023, TEEKAY TANKERS LTD. reported revenue of $1.47B and earnings per share (EPS) of $15.22. Net income for the quarter was $520M. Gross margin was 67.8%. Revenue grew 25.1% year-over-year compared to FY 2022. Operating income came in at $547M.
In FY 2022, TEEKAY TANKERS LTD. reported revenue of $1.18B and earnings per share (EPS) of $6.74. Net income for the quarter was $235M. Gross margin was 57.9%. Revenue grew 117.2% year-over-year compared to FY 2021. Operating income came in at $256M.
Over the past 8 quarters, TEEKAY TANKERS LTD. has demonstrated a growth trajectory, with revenue expanding from $776M to $1.23B. Investors analyzing TNK stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
TNK Dividend Yield and Income Analysis
TEEKAY TANKERS LTD. (TNK) does not currently pay a dividend. This is common among smaller companies in the Transportation industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Industrials dividend stocks may want to explore other Industrials stocks or use the stock screener to filter by dividend yield.
TNK Momentum and Technical Analysis Profile
TEEKAY TANKERS LTD. (TNK) has a momentum factor score of 71/100, 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 39/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 44/100 reflects moderate short selling activity.
TNK vs Competitors — Industrials Sector Ranking and Peer Comparison
Comparing TNK against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full TNK vs S&P 500 (SPY) comparison to assess how TEEKAY TANKERS LTD. stacks up against the broader market across all factor dimensions.
TNK Next Earnings Date
No upcoming earnings date has been announced for TEEKAY TANKERS LTD. (TNK) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy TNK? — Investment Thesis Summary
The bull case for TEEKAY TANKERS LTD. rests on several quantitative strengths. The value score of 97/100 suggests attractive pricing relative to fundamentals. Price momentum is positive at 71/100, suggesting the trend favors buyers. Low volatility (stability score 69/100) reduces downside risk.
In summary, TEEKAY TANKERS LTD. (TNK) earns a Buy rating with a composite score of 62.4/100 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 TNK stock.
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Institutional Research Dossier
TEEKAY TANKERS LTD. (TNK) Deep Dive Analysis
Published on March 24, 2026
Action RatingBuy
Sections
Executive Summary
Teekay Tankers Ltd. (TNK) is a leading provider of marine transportation services, primarily focused on the crude oil and refined oil products tanker market. The company's strong balance sheet, high profitability, and attractive valuation lead us to a 'Buy' rating with a Composite Score of 62.0/100 and a ranking of #13 out of 4,446 stocks in our proprietary quant model. The key takeaway is that TNK appears poised to capitalize on favorable industry dynamics and its own operational excellence to drive continued outperformance.
Business Strategy & Overview
Teekay Tankers operates a fleet of 48 double-hull oil tankers, as well as time-chartered vessels, providing voyage and time charter services to the oil industry globally. The company's core business model is to transport crude oil and refined petroleum products, generating revenue through a combination of spot market voyages and fixed-rate time charters. Teekay leverages its scale, operational expertise, and strategic relationships to serve major oil companies, traders, and refiners around the world.
The company's fleet consists primarily of Aframax and Suezmax class tankers, which are well-suited for the transportation of crude oil and refined products across medium and long-haul routes. Teekay also offers offshore ship-to-ship transfer services, further diversifying its revenue streams. The firm's strategic focus is on capitalizing on market opportunities, maintaining a modern and efficient fleet, and delivering reliable, high-quality service to its blue-chip customer base.
The global tanker industry is shaped by macroeconomic factors such as oil demand, refining activity, and trade flows. Teekay is well-positioned to navigate these dynamics, leveraging its operational agility, geographic diversity, and strong customer relationships. The company's focus on cost control, fleet optimization, and commercial strategy allows it to generate consistent cash flows and remain competitive across market cycles.
Execution Benchmarks audit
Gross Margin
Core pricing power
67.0%
Sector: 35.8%
+87% VS SCTR
Economic Moat Analysis
Teekay Tankers' primary competitive advantages stem from its scale, operational expertise, and customer relationships. As one of the largest independent tanker companies, Teekay benefits from economies of scale in areas like fleet management, procurement, and commercial operations. This translates into cost efficiencies and the ability to provide reliable, high-quality service to major oil companies and traders.
The company's long-standing customer relationships, forged over decades of operation, represent a significant intangible asset. Teekay's reputation for safety, reliability, and flexibility allows it to secure repeat business and maintain a diversified customer base. This customer loyalty creates a degree of pricing power and insulates the firm from pure cost competition.
Additionally, Teekay's modern, well-maintained fleet of double-hull tankers provides a technical advantage over older or less efficient vessels. This asset base, combined with the company's operational expertise, enables Teekay to offer a superior service proposition to its customers. The high capital intensity and regulatory requirements of the tanker industry also create barriers to entry, further strengthening Teekay's competitive position.
While the tanker market remains cyclical and competitive, Teekay's scale, customer relationships, and operational capabilities suggest the company has developed a narrow economic moat that should allow it to sustain its profitability and market share over the long term.
Financial Health & Profitability
Teekay Tankers has demonstrated a strong financial profile, outperforming its sector peers across multiple metrics. The company's TTM revenue of $1.23 billion, net income of $403.67 million, and free cash flow of $1.30 billion highlight its ability to generate substantial cash flows. Teekay's gross margin of 67.0% and operating margin of 30.9% are significantly higher than the sector averages of 35.8% and 6.2%, respectively, reflecting the firm's operational efficiency and pricing power.
The company's return on equity (ROE) of 91.9% is also exceptionally strong compared to the sector's 9.2%, indicating highly effective capital allocation and deployment. Teekay's balance sheet is further strengthened by its debt-free position, with no outstanding long-term debt as of the latest reporting period.
While Teekay's financial performance has been somewhat volatile due to the cyclical nature of the tanker industry, the recent quarterly trends point to a sustained improvement in profitability. The FY2022 and FY2023 figures show a significant recovery in revenue, margins, and cash flow generation, driven by favorable industry conditions and Teekay's operational excellence.
Overall, Teekay Tankers' robust financial health, characterized by high profitability, debt-free status, and strong cash flow generation, positions the company well to capitalize on market opportunities and weather industry downturns.
Valuation Assessment
Teekay Tankers' valuation appears highly attractive, both on an absolute basis and relative to its industry peers. The stock currently trades at a P/E ratio of 5.7x, compared to the sector average of 27.7x, and an EV/EBITDA multiple of 1.0x, versus the sector's 5.7x. These valuation metrics suggest that TNK is significantly undervalued compared to the broader Industrials sector.
Furthermore, Teekay's free cash flow yield of 56.1% is exceptionally high, indicating that the company is generating substantial cash flow relative to its market capitalization. This level of cash flow generation provides the company with ample financial flexibility to invest in growth, pay down debt, or return capital to shareholders.
When considering Teekay's strong financial performance, with TTM revenue growth of N/A%, gross margins of 67.0%, and operating margins of 30.9%, the current valuation appears compelling. The company's ability to consistently generate high profitability and cash flows, even in a cyclical industry, suggests that the market may be underappreciating the strength of its business model and long-term earnings potential.
Overall, the combination of Teekay Tankers' robust financial metrics, industry-leading profitability, and low valuation multiples indicates that the stock is trading at a significant discount to its intrinsic value, presenting a compelling investment opportunity.
Risk & Uncertainty
While Teekay Tankers' fundamentals and valuation appear compelling, the company faces several key risks and uncertainties that investors should consider. The tanker industry is inherently cyclical, with freight rates and asset values heavily influenced by global oil demand, trade patterns, and geopolitical events. Significant volatility in these industry dynamics could adversely impact Teekay's financial performance and cash flow generation.
Additionally, Teekay's reliance on a relatively concentrated customer base, primarily consisting of major oil companies and traders, exposes the company to counterparty risk. The loss of a key customer or a deterioration in customer relationships could negatively affect Teekay's revenue and profitability.
Regulatory changes, such as stricter environmental regulations or the introduction of new emissions standards, also pose a risk to Teekay's operations. The company may be required to make significant capital investments to upgrade or replace its fleet, which could put pressure on its financial resources and profitability.
Bulls Say / Bears Say
The Bull Case
BULL VIEWTeekay Tankers is well-positioned to capitalize on the strong recovery in global oil demand and trade flows, which should drive a sustained increase in tanker freight rates and asset values.
BULL VIEWThe company's debt-free balance sheet and robust cash flow generation provide it with ample financial flexibility to invest in fleet modernization, pursue strategic acquisitions, and return capital to shareholders.
BULL VIEWTeekay's operational excellence, customer relationships, and technical capabilities give it a sustainable competitive advantage in the fragmented tanker market, allowing it to maintain high profitability and market share.
The Bear Case
BEAR VIEWThe cyclical nature of the tanker industry and the potential for volatility in global oil demand and trade patterns could lead to significant swings in Teekay's financial performance, making it a risky investment.
BEAR VIEWThe company's reliance on a concentrated customer base exposes it to counterparty risk, and the loss of a key customer could have a material impact on its revenue and profitability.
BEAR VIEWStricter environmental regulations and the need for fleet upgrades and replacements could require Teekay to make substantial capital investments, which could erode its profit margins and free cash flow.
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 TNK and 4,400+ other equities.
TEEKAY TANKERS LTD. exhibits a 45% valuation discount relative to institutional benchmarks. This represents a constructive entry window based on current multiples.
Return on Assets
Efficiency of asset utilization
81.8%
Sector: 3.3%
Gross Margin
Pricing power and cost efficiency
67.0%
Sector: 35.8%
Operating Margin
Core business profitability
30.9%
Sector: 6.2%
Net Margin
Bottom-line profitability
32.8%
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.
TEEKAY TANKERS LTD.: The Transportation, Communications, Electric, Gas, And Sanitary Services Stock Ranked #3 Among 7,333 U.S. Companies
TEEKAY TANKERS LTD. (TNK) earns a Strong Buy rating with a 77/100 composite score, ranking #3 among 7,333 U.S. stocks. Six-factor quantitative analysis of quality, value, momentum, investment efficiency, stability, and short interest.
