Teekay Tankers (TNK) financial statements
Teekay Tankers reported revenue of $952M in fiscal 2025, up 6.3% a year over 9 years.
Net income was $351M and the operating margin 32.5%, against 17.6% in 2016.
Free cash flow was $116M, and the company returned $69M in dividends.
The diluted share count rose 63% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Teekay Tankers's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $551M | $431M | $776M | $944M | $886M | $542M | $1.2B | $1.5B | $1.2B | $952M |
| Cost of revenue | $54M | $77M | $381M | $402M | $297M | $315M | $496M | $474M | $406M | $317M |
| Gross profit | $497M | $354M | $395M | $542M | $589M | $227M | $682M | $999M | $824M | $634M |
| Selling, general and admin | $33M | $33M | $40M | $36M | $39M | $44M | $41M | $44M | $47M | $47M |
| Operating income | $97M | $1M | $7M | $124M | $142M | -$194M | $264M | $547M | $380M | $309M |
| Interest expense | $30M | $31M | $59M | $65M | $52M | $35M | $36M | $28M | $7M | $3M |
| Pre-tax income | — | -$53M | -$43M | $61M | $95M | -$244M | $238M | $532M | $404M | $347M |
| Income tax | — | -$5M | $9M | $20M | $7M | -$2M | $2M | $13M | $405,000 | -$4M |
| Net income | $68M | -$58M | -$53M | $41M | $87M | -$242M | $235M | $520M | $404M | $351M |
| EPS (diluted) | $3.20 | -$2.48 | -$1.57 | $1.23 | $2.57 | -$7.16 | $6.87 | $15.04 | $11.63 | $10.10 |
| Diluted shares | 21M | 23M | 34M | 34M | 34M | 34M | 34M | 35M | 35M | 35M |
| Gross margin | 90.3% | 82.1% | 50.9% | 57.4% | 66.5% | 41.9% | 57.9% | 67.8% | 67.0% | 66.7% |
| Operating margin | 17.6% | 0.3% | 0.9% | 13.1% | 16.0% | -35.8% | 22.4% | 37.1% | 30.9% | 32.5% |
| Net margin | 12.3% | -13.5% | -6.8% | 4.4% | 9.9% | -44.7% | 20.0% | 35.3% | 32.8% | 36.9% |
Balance sheet
Fiscal years, from Teekay Tankers's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $94M | $71M | $55M | $89M | $97M | $71M | $207M | $391M | $534M | $831M |
| Receivables | $34M | $19M | $17M | $96M | $36M | $41M | $117M | $115M | $82M | $83M |
| Inventory | — | — | $23M | $50M | $35M | $49M | $61M | $53M | $46M | $29M |
| Total current assets | $258M | $177M | $226M | $421M | $245M | $245M | $460M | $667M | $748M | $1.1B |
| Property, plant and equipment | $1.6B | $1.7B | $1.9B | $1.8B | $1.1B | $925M | $430M | $929M | $1.1B | $1.0B |
| Goodwill | $8M | $8M | $8M | $2M | $2M | $2M | $2M | $2M | $2M | $2M |
| Total assets | $2.0B | $2.2B | $2.2B | $2.2B | $1.8B | $1.6B | $1.8B | $1.9B | $2.0B | $2.2B |
| Total current liabilities | $256M | $237M | $198M | $280M | $197M | $157M | $170M | $168M | $132M | $135M |
| Long-term debt | $762M | $786M | $629M | $516M | $232M | $305M | $0 | — | — | — |
| Total liabilities | $1.0B | $1.2B | $1.2B | $1.2B | $761M | $780M | $714M | $392M | $217M | $198M |
| Shareholders' equity | $933M | $1.0B | $947M | $990M | $1.1B | $848M | $1.1B | $1.6B | $1.8B | $2.0B |
| Net debt | $839M | $881M | $680M | $471M | $146M | $250M | -$207M | -$391M | -$512M | -$831M |
Cash flow
Fiscal years, from Teekay Tankers's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $207M | $80M | -$7M | $118M | $348M | -$107M | $200M | $631M | $472M | $306M |
| Capital spending | $9M | $5M | $6M | $12M | $16M | $21M | $0 | $0 | $71M | $190M |
| Free cash flow | $197M | $76M | -$13M | $106M | $332M | -$129M | $200M | $631M | $401M | $116M |
| Dividends paid | $47M | $21M | $8M | $0 | $0 | $0 | $0 | $60M | $103M | $69M |
| Net borrowing | $906M | $233M | -$84M | -$44M | $562M | $210M | -$57M | $1M | $0 | $0 |
| Free cash flow margin | 35.8% | 17.6% | -1.7% | 11.2% | 37.4% | -23.7% | 17.0% | 42.8% | 32.7% | 12.1% |
| Dividends per share | $2.20 | $0.88 | $0.24 | — | — | — | — | $1.72 | $2.96 | $1.98 |
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Open TNK in InvestinglyQuestions
What was Teekay Tankers's revenue in 2025?
$952M in fiscal 2025, from its 10-K filing.
How much free cash flow does Teekay Tankers generate?
$116M in fiscal 2025 (operating cash flow minus capital spending).
From Teekay Tankers's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.