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Okeanis Eco Tankers USD

At a glance: strengths & risks
✓Revenue growing (+239% y/y, Q2 2026)✓Profit growing (+757% y/y, Q2 2026)✓Margins improving (50%→79%, Q2 2026)

Sector: Crude tankers

Geography: Global (worldwide crude tanker trades)

COMM_ECO

Price chart

96.85 USDDay 2.24%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
96.85 USD · 2.24%
Market cap
3.4 bn USD

Growth

Δ revenue y/y
239.4%
Δ EBITDA y/y
432.6%

Multiples

P/E (LTM)
8.5x
3y avg: 7.5x
P/B (FY)
6.0x
P/E (ann.)
3.7x
EV/EBITDA (LTM)
8.1x
3y avg: 6.6x
EV/EBITDA (ann.)
3.9x

Cash return

Dividend yield
9.1%
FCF yield (LTM)
2.1%

Value creation

to target market cap (spot commodity model)
Upside (potential)
+57.4%
↓ details

Liquidity

Daily turnover (listing)
63.2 mln USD

Shares: yahoo_fundamentals_timeseries/ECO

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK318.9
y/y 239.4%
239.1
y/y 547.2%
12.7
y/y 23.1%
251.8
y/y 432.6%
230.3
y/y 756.6%
190.4116.41649.3
y/y 52.3%
877.5
y/y 104.9%
115.0%499.9Yahoo Finance
2026-03-31Q1 2026 (3M)PARTIAL170.2
y/y 112.3%
98.1
y/y 340.1%
12.0
y/y 17.5%
110.1
y/y 238.7%
88.3
y/y 603.4%
108.5-196.11447.1
y/y 35.3%
725.3
y/y 76.2%
54.4%353.9Yahoo Finance
2025-12-31Q4 2025 (3M)PARTIAL126.9
y/y 48.9%
68.6
y/y 156.5%
10.4
y/y 0.7%
79.0
y/y 113.0%
59.5
y/y 350.6%
32.5-40.81200.6
y/y 11.0%
573.1
y/y 39.6%
24.5%353.9Yahoo Finance
2025-09-30Q3 2025 (3M)PARTIAL90.6
y/y 6.7%
34.7
y/y 26.6%
10.4
y/y -0.0%
45.2
y/y 19.3%
24.1
y/y 65.3%
29.5—1067.1
y/y —
429.8
y/y —
7.5%564.0Yahoo Finance
2025-06-30Q2 2025 (3M)PARTIAL93.9
y/y -16.1%
36.9
y/y -31.2%
10.3
y/y 1.6%
47.3
y/y -26.0%
26.9
y/y -32.0%
37.3—1083.1
y/y -4.6%
428.3
y/y -1.0%
25.6%571.1Yahoo Finance
2025-03-31Q1 2025 (3M)PARTIAL80.1
y/y -27.9%
22.3
y/y -59.5%
10.2
y/y 0.7%
32.5
y/y -50.2%
12.6
y/y -69.8%
12.0—1069.4
y/y —
411.7
y/y —
12.2%549.6Yahoo Finance
2024-12-31Q4 2024 (3M)PARTIAL85.2
y/y —
26.7
y/y —
10.4
y/y —
37.1
y/y —
13.2
y/y —
——1082.1
y/y -4.2%
410.4
y/y 0.6%
—549.6Yahoo Finance
2024-09-30Q3 2024 (3M)PARTIAL84.9
y/y —
27.4
y/y —
10.4
y/y —
37.9
y/y —
14.5
y/y —
———
y/y —
—
y/y —
—≈ 522.5Yahoo Finance
2024-06-30Q2 2024 (3M)PARTIAL112.0
y/y —
53.7
y/y —
10.2
y/y —
63.9
y/y —
39.6
y/y —
——1135.2
y/y —
432.6
y/y —
—522.5Yahoo Finance
2024-03-31Q1 2024 (3M)PARTIAL111.1
y/y —
55.1
y/y —
10.2
y/y —
65.2
y/y —
41.6
y/y —
———
y/y —
—
y/y —
—≈ 565.3Yahoo Finance
2023-12-31FY 2023 (12M)PARTIAL413.1
y/y —
201.1
y/y —
40.4
y/y —
241.5
y/y —
145.3
y/y —
174.0—1129.1
y/y —
408.1
y/y —
—565.3Yahoo Finance

Net debt structure (leases included, IFRS 16) 2026-03-31

Short-term debt (incl. ST leases)0
Long-term debt (incl. LT leases)471
− Cash & equivalents117
Net debt354

Net debt / LTM EBITDA: 0.7x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

01002003004002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-200%0%200%400%600%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

-200-10001002002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

02004006002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.09x of reported net profit; after capex, -0.28x. Loss years (2021) are left out of the ratio.
year2022202320242025
cash flow / profit0.98x1.20x1.50x0.91x
accruals, % of assets0.2%-2.5%-5.0%1.0%
Last twelve months (to 2026-06-30): 0.90x of profit came back as operating cash flow.
net debt / EBITDA 1.7x · EBIT covers interest 3.9x · capex 1.1x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Key-commodity price — VLCC TD3C AG-China TCE, USD/day

Current 1 347 500spot vs LTM +191%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +57.4% ▼ -3.5 pp 1d

Main driver: VLCC TD3C AG-China TCE, USD/day +579% vs LTM; revenue ×2.85 vs costs ×1.04; EBITDA 486→972; at 6.1× EV/EBITDA → +57%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
VLCC TD3C AG-China TCE, USD/day (rev)+71%1 347 500.00198 330.46175 740.62+579%-11%
Suezmax TD20 WAF-UKC TCE, USD/day (rev)+24%429 250.0077 681.0371 715.13+453%-8%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue706
LTM EBITDA486
LTM cash costs (revenue − EBITDA)220
2 · Revenue projection
Revenue multiplier — spot×2.855 (+185%)
= Spot revenue2 017
Revenue multiplier — 3y price×0.941 (-6%)
= 3-year-price revenue665
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs229
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs229
4 · EBITDA projection (revenue − costs)
= Spot EBITDA1 788
= 3-year-price EBITDA436
Conservative EBITDA = min(spot, avg)972
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)6.1x
Target EV = EV/EBITDA × conservative EBITDA5 901
Net debt500
Target market cap = EV − net debt5 401
Current market cap3 432

Upside = target market cap ÷ current − 1 = +57.4%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2025 Q180103-22.0%3354-40.1%
2025 Q294100-6.2%4751-7.7%
2025 Q391103-11.6%4554-16.4%
2025 Q4127143-11.5%7995-17.0%
2026 Q1170185-8.2%110137-19.8%
2026 Q2319249+28.3%252197+27.6%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth -0% vs -5% the year before — a +4.4 pp move. 3-year CAGR +13%.
revenue growth by year: 2023 +52% · 2024 -5% · 2025 -0%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 2.6x · target 75th pct (3y) 6.1x · LTM avg 9.8x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Peer comparison

Group: Crude tankers. Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
Teekay Tankersglobal3.54.2x
International Seawaysglobal5.56.6x
DHT Holdingsglobal4.08.2x
Frontlineglobal11.88.4x
Nordic American Tankersglobal1.710.7x
Group median8.2x
Group average7.6x
This companyglobal3.48.1x

Group median 8.2x; this company 8.1x — a 1% discount.

Group average 7.6x; against the average this company is at a 6% premium.

At the adjusted group median the market cap would be +1% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.5x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.6x, India 17.0x, Indonesia 5.3x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-26; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-08-135.25 USDEx-dividend: 5.25 USD per sharePaidYahoo Finance (ex-div)
2026-05-272 USDEx-dividend: 2 USD per sharePaidYahoo Finance (ex-div)
2026-03-021.55 USDEx-dividend: 1.55 USD per sharePaidYahoo Finance (ex-div)
2025-06-020.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2025-02-280.35 USDEx-dividend: 0.35 USD per sharePaidYahoo Finance (ex-div)
2024-11-150.45 USDEx-dividend: 0.45 USD per sharePaidYahoo Finance (ex-div)
2024-08-201.1 USDEx-dividend: 1.1 USD per sharePaidYahoo Finance (ex-div)
2024-06-041.1 USDEx-dividend: 1.1 USD per sharePaidYahoo Finance (ex-div)
2024-03-080.66 USDEx-dividend: 0.66 USD per sharePaidYahoo Finance (ex-div)
2023-11-140.6 USDEx-dividend: 0.6 USD per sharePaidYahoo Finance (ex-div)
2023-08-311.5 USDEx-dividend: 1.5 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Okeanis Eco Tankers — from primary filings.

Frequently asked questions

What is Okeanis Eco Tankers's P/E ratio?
Okeanis Eco Tankers trades at a P/E of 8.5x (price to trailing 12-month earnings).
What is Okeanis Eco Tankers's EV/EBITDA?
Okeanis Eco Tankers trades at 8.1x EV/EBITDA.
What is Okeanis Eco Tankers's P/B ratio?
Okeanis Eco Tankers trades at a P/B of 6.0x.
What is Okeanis Eco Tankers's dividend yield?
Okeanis Eco Tankers's trailing 12-month dividend yield is 9.1%.
What is Okeanis Eco Tankers's return on equity (ROE)?
Okeanis Eco Tankers's ROE is 115.0%.
What is Okeanis Eco Tankers's market capitalization?
Okeanis Eco Tankers's market cap is 3.4 bn USD.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map