Company Quick10K Filing
Teekay Tankers
20-F 2019-12-31 Filed 2020-04-15
20-F 2018-12-31 Filed 2019-04-10
20-F 2017-12-31 Filed 2018-04-24
20-F 2016-12-31 Filed 2017-04-26
20-F 2015-12-31 Filed 2016-04-27
20-F 2014-12-31 Filed 2015-04-28
20-F 2013-12-31 Filed 2014-04-30
20-F 2012-12-31 Filed 2013-04-30
20-F 2011-12-31 Filed 2012-04-13
20-F 2010-12-31 Filed 2011-04-12
20-F 2009-12-31 Filed 2010-03-30

Teekay Tankers Financials

TNK Metrics, Comps, Filings

Quarterly | Annual

Business

Teekay Tankers Ltd. ("we," "us," or "the Company") is an international provider of marine transportation to global oil industries. We were formed as a Marshall Islands corporation in October 2007 by Teekay Corporation (NYSE: TK), a leading provider of marine services to the global oil and natural gas industries. We completed our initial public offering on December 18, 2007 with an initial fleet of nine Aframax oil tankers which were transferred to us by Teekay Corporation.

Our conventional fleet size has increased from nine owned Aframax tankers in 2007 to 56 owned and leased conventional tankers, three in-chartered vessels and one jointly-owned Very Large Crude Carrier (or VLCC) as of December 31, 2018. The capacity of our conventional tanker fleet has risen from approximately 980,000 deadweight tonnes (or dwt) in 2007 to approximately 7,918,000 dwt as of December 31, 2018. Over the last five years, we have acquired 18 conventional tankers through the merger with Tanker Investments Ltd. (or TIL), 17 conventional tankers from external parties and two conventional tankers from TOO. In March 2014, we also assumed ownership of two VLCCs that previously served as collateral under term loans we made to a third party. We subsequently sold those two VLCCs in May 2014. We sold three Aframax tankers and two Suezmax tankers in 2017, two Medium Range (or MR) tankers in 2016 and one MR tanker in 2015. Please read Item 18 - Financial Statements: Note 20 - Vessel Sales. We also completed two sale-leaseback financing transactions in 2018, relating to eight Aframax tankers, one Suezmax tanker and one LR2 product tanker, and a sale-leaseback financing transaction in 2017 relating to four of our Suezmax tankers. Please read Item 18 - Financial Statements: Note 11 - Leases.

In November 2017, we completed a merger with TIL by acquiring all of the remaining 27.0 million issued and outstanding common shares of TIL, by way of a share-for-share exchange resulting in TIL becoming a wholly-owned subsidiary. At the time of the merger, TIL owned a modern fleet of ten Suezmax tankers, six Aframax tankers and two LR2 product tankers. Please read Item 18 - Financial Statements: Note 23 - Acquisition of Tanker Investments Ltd.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Scorpio Bulkers (SALT) 399 0% -3.4 -19% 1,704 843 100 0 -324 -324 1,098
Genco Shipping & Trading (GNK) 391 0% 18.4 -2% 1,562 564 393 0 -39 40 743
Eagle Bulk Shipping (EGLE) 357 0% 15.1 -0% 970 479 308 0 -4 47 706
Teekay (TK) 337 0% 8,392 5,525 0 0 0 0 3,195
Diana Shipping (DSX) 330 0% 1,188 560 0 0 0 0 713
SEACOR Marine Holdings (SMHI) 319 27% -21.4 -10% 1,041 546 227 60 -101 -33 708
Nordic American Tankers (NAT) 288 0% 1,071 469 0 0 0 0 675
MCBC Holdings (MCFT) 275 24% 8.3 8% 257 176 483 115 22 46 383
Teekay Tankers (TNK) 252 0% 2,161 1,214 0 0 0 0 934
Tsakos Energy Navigation (TNP) 230 0% 3,205 1,710 0 0 0 0 1,617
Safe Bulkers (SB) 181 0% 1,076 593 0 0 0 0 698
Ardmore Shipping (ASC) 161 0% 845 498 0 0 0 0 336
Overseas Shipholding Group (OSG) 157 0% 7.9 -1% 1,137 807 346 0 -7 61 483
Danaos (DAC) 149 0% 2,680 1,989 0 0 0 0 1,694
Pangaea Logistics Solutions (PANL) 144 0% 5.5 4% 485 309 282 0 20 40 221
StealthGas (GASS) 113 0% 1,037 475 0 0 0 0 479
Navios Maritime Containers (NMCI) 100 0% 414 231 0 0 0 0 265
Scorpio Tankers (STNG) 95 0% 4,784 2,945 0 0 0 0 83
Navios Maritime Acquisition (NNA) 44 0% 1,627 1,247 0 0 0 0 1,214
Capital Product Partners (CPLP) 37 0% 1,385 504 0 0 0 0 435

Balance Sheet ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash16262616396687161
Accounts Receivable054428301917
Inventory
PP&E8868598281,7681,6051,7381,402
Assets8821,1061,0981,1652,1691,9322,1972,161
Accounts Payable23221712811
Long-Term Debt3497367456561,166942963742
Liabilities3938038137101,2921,0121,1911,214
Stockholders' Equity4893022854568779211,007947
Income Statement ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue
Cost of Revenue
Gross Profit
R&D
SG&A
Tax
Net Income
Cash Flow ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating
Cash Investing
Cash Financing