Tsakos Energy Navigation Limited (TEN) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Tsakos Energy Navigation Limited $51.09, price $46.75, upside +9.3%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $5.66 – $52.81 · fair‑value band $42.96 – $55.45 · the $46.75 price screens below the $51.09 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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Tsakos Energy Navigation Limited, together with its subsidiaries, provides seaborne crude oil and petroleum product transportation services in Greece and internationally. The company owns and operates various vessels, including VLCC, Suezmax, Aframax, Panamax, Handysize, MR, LNG carrier, and shuttle DP2 tankers.
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Tsakos Energy Navigation Limited, together with its subsidiaries, provides seaborne crude oil and petroleum product transportation services in Greece and internationally. The company owns and operates various vessels, including VLCC, Suezmax, Aframax, Panamax, Handysize, MR, LNG carrier, and shuttle DP2 tankers. It also provides marine transportation services for national, major, and other independent oil companies and refiners. The company was formerly known as MIF Limited and changed its name to Tsakos Energy Navigation Limited in July 2001. Tsakos Energy Navigation Limited was incorporated in 1993 and is based in Athens, Greece.
Stock analysis
Tsakos Energy Navigation Limited (TEN) currently trades at $46.75, while our model-based Fair Value estimate is $51.09, implying the stock looks roughly 8.5% fairly valued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $80.96 per share, and 7 of the 15 models we run sit above the $46.75 price.
Bear case: the Dividend Discount group reads lowest at $25.53, and 8 of the 15 models stay below the price. Evidence for this calculation is high.
Scenario range: $42.96 (bear) to $55.45 (bull), the price of $46.75 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 47/100 (below-average quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Tsakos Energy Navigation Limited reported revenue of $799M in FY2025 versus $546M in FY2021, a compound +10.0%/yr. Reported net income was $161M in FY2025.
Key figures
Market cap $1.4B · P/E ratio 7.6 · P/S ratio 1.54 · EPS (TTM) $6.13 · Dividend yield 4.9% · Net margin 20.1% · Return on equity 11.7% · Return on assets (EBIT) 5.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 131% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −11% fair-value upside, at 9%, TEN screens cheaper than that median.
Fair Value models
Bear $42.96Fair Value $51.09Bull $55.45
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($4.50 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.20/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−0.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.4%
Start year 2020 (pandemic). Over 10 years: −20.8% a year
Revenue growth 29 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−7.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+15.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.1%
Dividend (yield on the price)4.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.69% vs 4%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.15% → 30%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 14.9%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Midstream · 85 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside+9% · Above median
Profitability
Return on equity (TTM)12% · Above median
Return on assets5% · Above median
Net margin (TTM)25% · Above median
Operating margin (TTM)43% · Above median
Growth and dividend
Revenue growth28% · Above median
Dividend yield (TTM)4.9% · Above median
Balance sheet
Debt / equity0.82× · Below median
Valuation Multiplesvs Oil & Gas Midstream median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Tsakos Energy Navigation Limited Fair Value". https://www.fairvalue-calculator.com/stock/TEN
Frequently asked questions
Is Tsakos Energy Navigation Limited (TEN) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $51.09 versus a price of $46.75, about +9% upside (fairly valued).
What is the fair value of TEN?
Our model-based fair value for Tsakos Energy Navigation Limited is $51.09 (as of Sep 23, 2026), built from audited fundamentals. The current price: $46.75.
What is the quality score of TEN?
Tsakos Energy Navigation Limited has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Tsakos Energy Navigation Limited (TEN)?
Our model-based price target is the fair value of $51.09 (as of Sep 23, 2026) from 16 valuation models. Cautious scenario $42.96, optimistic scenario $55.45. It is a calculation from audited fundamentals, not an analyst target.
What is the Tsakos Energy Navigation Limited stock forecast for 2026?
Our models put fair value at $51.09, about +9% upside versus a price of $46.75 (fairly valued). Cautious scenario $42.96, optimistic scenario $55.45. The calculation is refreshed regularly with new filings.
What is the revenue of Tsakos Energy Navigation Limited (TEN)?
Tsakos Energy Navigation Limited reported trailing-twelve-month revenue of about $855M (latest available figure, as of Sep 23, 2026).
Does Tsakos Energy Navigation Limited pay a dividend?
Tsakos Energy Navigation Limited currently shows a dividend yield of about 4.85% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Tsakos Energy Navigation Limited (TEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tsakos Energy Navigation Limited it is $51.09 per share (as of Sep 23, 2026), against a price of $46.75. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Tsakos Energy Navigation Limited stock overvalued or undervalued in 2026?
As of Sep 23, 2026, TEN trades below its calculated fair value: price $46.75, fair value $51.09, a gap of about +9% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TEN?
No. The price is what the market pays today ($46.75); the fair value is what the company's own numbers justify ($51.09). For Tsakos Energy Navigation Limited the two are $4.34 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tsakos Energy Navigation Limited worth?
The market values Tsakos Energy Navigation Limited at about $1.4B (market capitalisation, as of Sep 23, 2026). Per share that is $46.75; our models calculate a fair value of $51.09 per share.
What do the bullish and bearish scenarios say about TEN?
Our models span a range for Tsakos Energy Navigation Limited: cautious scenario $42.96, base $51.09, optimistic $55.45 per share (as of Sep 23, 2026, price $46.75). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TEN?
Tsakos Energy Navigation Limited trades at a price-to-earnings ratio of 7.6 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $51.09 is built from several models across several years. Other multiples: PEG 2.5, P/B 0.8, P/S 1.6, EV/EBITDA 5.8.
What is the PEG ratio of TEN?
The PEG ratio of Tsakos Energy Navigation Limited is 2.53 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Tsakos Energy Navigation Limited (TEN)?
Balance-sheet figures for Tsakos Energy Navigation Limited (as of Sep 23, 2026): return on equity 11.7%, debt of 0.82 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is TEN from its 52-week high?
Tsakos Energy Navigation Limited trades at $46.75, about 11% below its 52-week high of $52.81 and 131% above the low of $20.22 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $51.09 is for.
Which stocks are comparable to Tsakos Energy Navigation Limited?
From the same area (Energy) we also value Enbridge Inc, The Williams Companies, Inc, Enterprise Products Partners L.P., Kinder Morgan, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Tsakos Energy Navigation Limited stock attractive at the current price?
The data as of Sep 23, 2026: price $46.75, calculated fair value $51.09 (+9%), Quality Score 47/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TEN calculated?
We run Tsakos Energy Navigation Limited through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $51.09, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Tsakos Energy Navigation Limited currently trades 9 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Tsakos Energy Navigation Limited (TEN)?
The closing price on Sep 24, 2026 was $46.75. Our model-based fair value is $51.09, about +9% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tsakos Energy Navigation Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Tsakos Energy Navigation Limited (TEN) come from?
Earnings per share at Tsakos Energy Navigation Limited grew +9.5 % a year from 2012 to 2023. Broken into its drivers: revenue per share −14.1 %, EBIT margin +21.7 %, tax rate +0.5 %, residual (interest, one-offs) +4.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Tsakos Energy Navigation Limited
How large is the market capitalisation of Tsakos Energy Navigation Limited (TEN)?
The market capitalisation of Tsakos Energy Navigation Limited is $1.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Tsakos Energy Navigation Limited (TEN)?
The price-to-sales ratio of Tsakos Energy Navigation Limited is 1.54 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Tsakos Energy Navigation Limited (TEN)?
Earnings per share at Tsakos Energy Navigation Limited are $6.13 (price ÷ EPS = P/E 7.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tsakos Energy Navigation Limited (TEN)?
The dividend yield of Tsakos Energy Navigation Limited is 4.9% (payout 37.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Tsakos Energy Navigation Limited (TEN)?
The net margin of Tsakos Energy Navigation Limited is 20.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Tsakos Energy Navigation Limited (TEN)?
The return on equity (ROE) of Tsakos Energy Navigation Limited is 11.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Tsakos Energy Navigation Limited (TEN)?
On an EBIT basis the return on assets of Tsakos Energy Navigation Limited is 5.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Tsakos Energy Navigation Limited (TEN)?
The operating margin of Tsakos Energy Navigation Limited is 43.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tsakos Energy Navigation Limited (TEN)?
Revenue at Tsakos Energy Navigation Limited is growing +28.4% versus a year earlier (3y avg −2.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Tsakos Energy Navigation Limited (TEN)?
Earnings per share at Tsakos Energy Navigation Limited are growing +163% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tsakos Energy Navigation Limited (TEN) generate?
The free cash flow of Tsakos Energy Navigation Limited is −$226M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Tsakos Energy Navigation Limited (TEN) carry?
The net debt of Tsakos Energy Navigation Limited is $1.6B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 23, 2026