Tsakos Energy Navigation LTD cash flow statement

In fiscal 2025, Tsakos Energy Navigation LTD's operations generated $298m of cash; it spent $302m on capital projects, leaving free cash flow of −$4.5m. It returned $60.1m in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Tsakos Energy Navigation LTD: cash flow statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	117	83	46	61	118	107	234	170	171	74	184	205	53	289	395	308	298
Depreciation and amortisation	—	—	—	—	100	103	106	113	139	147	139	137	143	141	144	160	170
Stock-based pay	1	1	1	1	0	0	0	1	0	0	0	—	—	0	0	8	7
Capital spending	—	—	—	—	—	—	—	—	—	—	—	—	6	302	164	490	302
Free cash flow	—	—	—	—	—	—	—	—	—	—	—	—	47	−13	232	−182	−5
Free cash flow after stock pay	—	—	—	—	—	—	—	—	—	—	—	—	—	−13	232	−190	−12
Dividends paid	42	23	28	27	10	21	33	40	40	44	49	47	36	44	62	72	60
Share buybacks	4	0	0	—	—	0	0	21	0	0	0	10	0	0	0	—	—
Shares issued	0	105	0	62	7	176	0	0	0	0	17	3	53	44	0	0	—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Tsakos Energy Navigation LTD's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Tsakos Energy Navigation LTD.