INSW

International Seaways

Industrials · fiscal year ending 2025-12-31

Through the investors’ lenses

3 of 4 cleared8 of 10 criteria

Each of these investors has said in public what they look at before buying. Click a name to see how this company measures up — a tick where it passes one of their tests, a cross where it does not.

Warren Buffett 4/4

Measure	INSW	Checked against
Owner earnings	$132.37m	positive	✓
Return on equity	15.3%	US median 2.8%	✓
Debt to equity	0.28x	US median 0.57x	✓
Operating margin	41.0%	US median 3.1%	✓

Passes 4 of 4. These are the measures Warren Buffett published, applied to International Seaways’s own figures — their criteria, not their view of this company. What he looks at, and why →

Benjamin Graham 1/3

Measure	INSW	Checked against
Current ratio	3.71x	2.00x published	✓
Long-term debt to working capital	2.02x	1.00x published	✗
Positive earnings, ten years running	4 yrs	10 published	✗

Passes 1 of 3. These are the measures Benjamin Graham published, applied to International Seaways’s own figures — their criteria, not their view of this company. What he looks at, and why →

Joel Greenblatt 1/1

Measure	INSW	Checked against
Return on capital employed	13.3%	US median 5.1%	✓

Passes 1 of 1. These are the measures Joel Greenblatt published, applied to International Seaways’s own figures — their criteria, not their view of this company. What he looks at, and why →

Peter Lynch 2/2

Measure	INSW	Checked against
Debt to equity	0.28x	US median 0.57x	✓
Net margin	36.7%	US median 2.0%	✓

Passes 2 of 2. These are the measures Peter Lynch published, applied to International Seaways’s own figures — their criteria, not their view of this company. What he looks at, and why →

Basis	Payout	Why
GAAP earnings	47.0%	why The figure most screeners publish.
Operating cash flow	38.1%	why Before capital spending.
Free cash flow	365.4%	why After maintaining the business.

Spread between highest and lowest: 327.4 percentage points. Same filings, different denominators.

Coverage rating 0 / 100 — Not covered. ? Peer standing 0/50Direction 0/30Stability 0/20

Against its own history: 365.4% this year vs 63.8% median over the prior 5. A gap this size is usually a one-off — acquisition, settlement, cyclical trough — not a dividend that stopped being funded. The rating reads the latest year; the table shows the trend.

Free cash flow payout, last 6 years

Fiscal year	Payout
2025-12-31	365.4%
2024-12-31	106.0%
2023-12-31	63.8%
2022-12-31	40.6%
2020-12-31	4.1%
2016-12-31	159.1%

Coverage has deteriorated three years running — 40.6% to 365.4% — and the dividend now exceeds what the basis that applies can fund.

0% of the 92 industrials here pay out more — at the demanding end.

The arithmetic

GAAP earnings — dividends declared per share $2.93 ÷ diluted EPS $6.23
Operating cash flow — dividends paid $145m ÷ operating cash flow $380m
Free cash flow — dividends paid $145m ÷ (operating cash flow $380m − capex $340m)

Where the figures came from

10-K filed 2026-02-26 · accession 0001104659-26-020113

Every one is public at sec.gov and free to check. That is the point — you should not have to take our word for any of it.

Computed by an open pipeline reading SEC XBRL directly. If any number here looks wrong to you, tell us — that is more useful to us than agreement.

What the free cash flow payout ratio measures, and where every company here sits on it.

Also on: covered on earnings, not on the basis that applies · rated not covered · when it files.

Who else looks like this

Every figure above is computed from International Seaways’s own filing, and every company here is measured the same way. Screen all of them on any of these twelve measures, or on the rules four investors published — free, and nothing you screen leaves your browser.

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