Stock fact sheet · data as of
Tsakos Energy Navigation Limited (TEN): fair value, margin of safety and Wheel Score
Energy · Oil & Gas Midstream · Greece · Defensive
Is TEN undervalued?
At 53.71 (close of 16 Oct 2026), TEN trades 20% under the GLS average fair value of 67.21. 3 of the 6 models that produced a value land above the price. A discount of this size counts as a positive margin of safety in every GLS screen; whether it is enough depends on the rest of the picture - the health score, the moat and the option premium below.
There is a wide gap between Lynch (0.8980) and Graham Number (129.23). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files TEN under Defensive: a low beta, a dividend and positive earnings.
Nine valuation models for TEN
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 129.23 | +141% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 91.74 | +71% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 0.8980 | -98% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 31.69 | -41% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 29.43 | -45% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 120.30 | +124% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -54.97 | -202% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 35.00 | -35% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Tsakos Energy Navigation Limited scores 5 of 9 on the Piotroski F-score: a middling result that falls one point short of the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 3.0/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 4.3%, ROE 8.8%, ROA 4.1% - with debt at 1.06 times equity and negative free cash flow.
The dividend yield is 3.72% at a payout ratio of 0%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Clean Air Division 47%, Powertrain 21%, Ride Performance Division 17% (quarter Q3 FY2022).
Institutional ownership scores 4/10, insider activity 4/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 4.3% |
|---|---|---|---|
| GLS Moat | 3.0 / 10 | ROE | 8.8% |
| Debt / equity | 1.06 | ROA | 4.1% |
| Free-cash-flow yield | -26.3% | Payout ratio | 0% |
| Institutions | 4 / 10 | Insiders · Congress | 4 · 5 / 10 |
Wheel Score 70: Good
With a Wheel Score of 70 - the Good band - Tsakos Energy Navigation Limited clears the Sunday Scan's "70 or higher" rule. The parts: Value 21/25, Health 11/20, Moat 5/15, Premium 20/20, Stability 13/20; Moat (5/15) scores lowest.
Implied volatility is 48% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 17,738 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 528k shares a day on a market cap of $1.6B, with a beta of -0.25 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 13 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 21 / 25 | 20% margin of safety | |
| Health | 11 / 20 | Piotroski 5/9 | |
| Moat | 5 / 15 | moat 3.0/10 | |
| Premium | 20 / 20 | implied volatility 48% | |
| Stability | 13 / 20 | 528k shares/day, $1.6B cap, beta -0.25 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 19 Nov 2026 (before the open), 34 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Oil & Gas Midstream
The 12 companies below are the closest to Tsakos Energy Navigation Limited by market cap within the Oil & Gas Midstream industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| PBT Permian Basin Royalty Trust | 34.60 | 8.17 | -324% | 42Weak | $1.6B |
| GLP Global Partners LP | 49.08 | 59.35 | +17% | 69Good | $1.7B |
| GEL Genesis Energy, L.P. | 13.94 | 33.60 | +59% | 75Good | $1.7B |
| NGL NGL Energy Partners LP | 14.81 | 35.80 | +59% | 45Weak | $1.8B |
| TK Teekay Corporation | 14.51 | 66.64 | +78% | 80Prime | $1.3B |
| LPG Dorian LPG Ltd. | 53.68 | 84.77 | +37% | 82Prime | $2.3B |
| SBR Sabine Royalty Trust | 72.43 | 44.62 | -62% | 25No options | $1.1B |
| DKL Delek Logistics Partners, LP | 55.94 | 49.57 | -13% | 57Fair | $3.2B |
| EE Excelerate Energy, Inc. | 32.51 | 35.30 | +8% | 74Good | $3.7B |
| NFEGP New Fortress Energy Inc. Series A Mandatorily Convertible Preferred Stock | 255.60 | - | - | 20No options | $627M |
| KNTK Kinetik Holdings Inc. | 53.44 | 169.33 | +68% | 82Prime | $4.3B |
| WHK WhiteHawk Minerals Corp | 25.92 | 2.92 | -788% | 17No options | $596M |
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Start free See the Sunday ScanQuestions about TEN
Is TEN undervalued right now?
By the GLS models, moderately: at 53.71 the stock trades 20% below the average fair value of 67.21 (data as of 16 Oct 2026).
What is the Wheel Score of TEN and what does it mean?
TEN scores 70 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for TEN?
67.21 per share as of 16 Oct 2026 - the simple average of the 6 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Tsakos Energy Navigation Limited report earnings next?
The next earnings report is due on 19 Nov 2026 (before the open), 34 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does TEN have listed options, and how liquid are they?
Yes. The nightly snapshot found 230 listed contracts with 17,738 open interest across all expiries and implied volatility of 48% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.