TORM
Operates product tankers carrying refined fuels through an integrated commercial and technical platform.
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Profile
Operates product tankers that carry refined fuels including gasoline, naphtha, diesel, and jet fuel. Its core fleet spans LR2, LR1, and MR classes, with commercial and technical management integrated through the One TORM model.
Moves refined petroleum products by sea through a fleet of LR2, LR1, and MR product tankers. Gasoline, naphtha, diesel, and jet fuel are among the cargoes, alongside marine-engineering activity reported in its financial statements.
Operating from offices across Europe, Asia, the Middle East, and the United States, it integrates commercial and technical management through its One TORM model. The operating structure supports safety- and environmentally focused fleet operations.
Danish-founded in 1889, the business now sits under an English public parent formed through the 2015–16 restructuring and redomiciliation. Its current A shares trade in Copenhagen and New York, while product-tanker operations remain its core.
Company facts
Categories
Key statistics
Year to date +64.8% · Average volume (30d) 544.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 26, 2026 | Evercore ISI | Reiterate | Outperform | $37 | $38 |
| Jul 22, 2026 | Evercore ISI | Reiterate | Outperform | $35 | $37 |
| Apr 21, 2026 | Evercore ISI | Target | $34 | $35 | |
| Feb 26, 2026 | Evercore ISI | Target | $23 | $34 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 26, 2026Q2 FY26 | $3.31 | $3.25 | −1.8% | $499.0M | $512.0M | +2.6% | −4.42% |
| May 13, 2026Q1 FY26 | $1.33 | $1.18 | −11.3% | $297.4M | $286.0M | −3.8% | −3.31% |
| Feb 26, 2026Q4 FY25 | $0.83 | $0.87 | +4.7% | $236.2M | $251.0M | +6.3% | +3.26% |
| Nov 6, 2025Q3 FY25 | $0.82 | $0.77 | −5.6% | $273.0M | $343.1M | +25.7% | +2.06% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $329.1M | $315.2M | $343.1M | $355.0M | $395.8M | $649.2M | |
| Gross profit | $165.4M | $158.1M | $124.4M | $134.8M | $157.7M | $371.9M | |
| Operating income | $82.3M | $74.6M | $97.4M | $98.2M | $135.1M | $348.2M | |
| Net income | $62.9M | $58.6M | $77.7M | $87.4M | $120.5M | $331.4M | |
| Diluted EPS | $0.62 | $0.58 | $0.77 | $0.88 | $1.17 | $3.18 | |
| Gross margin | 50.3% | 50.2% | 36.3% | 38.0% | 39.9% | 57.3% | |
| Operating margin | 25.0% | 23.7% | 28.4% | 27.7% | 34.1% | 53.6% |
Fiscal years (4-quarter sums)FY21 $619.5M · FY22 $1.44B · FY23 $1.52B · FY24 $1.56B · FY25 $1.34B
Revenue by product · FY25
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $366.9M · Total debt $1.07B · Total assets $3.81B · Shareholders' equity $2.54B
Dividends
Last raised to $0.70 from $0.511 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| May 28, 2026 | May 28 | Jun 11 | $0.70 | raised from $0.511 |
| May 27, 2026 | May 28 | Jun 11 | $0.511 | cut from $0.70 |
| Mar 12, 2026 | Mar 12 | Mar 25 | $0.70 | raised from $0.62 |
| Nov 20, 2025 | Nov 20 | Dec 3 | $0.62 | raised from $0.40 |
| Aug 22, 2025 | Aug 22 | Sep 3 | $0.40 | |
| May 22, 2025 | May 22 | Jun 4 | $0.40 | cut from $0.60 |
| Mar 20, 2025 | Mar 20 | Apr 2 | $0.60 | cut from $1.20 |
| Nov 21, 2024 | Nov 21 | Dec 4 | $1.20 | cut from $1.80 |
Ownership
Shares outstanding 102.37M · Float 67.67M · 66.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Oaktree Capital Group Holdings GP, LLC | 20.33M | 19.86% | 13D | Jun 23, 2026 |
| Hafnia Ltd | 14.16M | 13.97% | 13D | Dec 22, 2025 |
| Arrowstreet Capital, Limited Partnership | 3.06M | 2.99% | 13F | May 14, 2026 |
| Vanguard Capital Management LLC | 1.84M | 1.80% | 13F | May 15, 2026 |
| Acadian Asset Management LLC | 1.14M | 1.11% | 13F | May 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 27, 2026 | Kim Balle | officer: Chief Financial Officer | +254 | |
| May 18, 2026 | Jacob Balslev Meldgaard | director, officer: Chief Executive Officer | −379,014 | $31.94 |
| May 20, 2026 | Jacob Balslev Meldgaard | director, officer: Chief Executive Officer | −170,133 | $32.30 |
Peers
- Hafnia
Large integrated owner/operator across product-tanker freight
- Scorpio Tankers
Large product-tanker fleet spanning LR2, MR and Handymax vessels
- International Seaways
Diversified tanker operator with 41 product carriers at end-2025
- Ardmore Shipping
MR product/chemical tanker operator serving global cargo customers
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| TORM | $32.46 | −0.46% | $3.34B | 5.4 | 6.0 | 1.9 | +62.4% |
| Hafnia | $8.48 | +0.30% | $4.23B | 6.6 | 8.7 | 1.6 | −32.7% |
| Scorpio Tankers | $77.91 | −0.18% | $3.91B | 4.9 | 11.5 | 3.2 | +70.2% |
| International Seaways | $100.00 | +1.19% | $4.89B | 6.3 | 10.8 | 3.9 | +121.9% |
| Ardmore Shipping | $17.36 | −0.03% | $708.3M | 6.7 | 8.4 | 1.9 | +61.3% |
| Median | 6.5 | 9.8 | 2.6 | +65.7% |