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TRMD

TORM plc

TRMD

TORM plc • NASDAQ
$21.41 ▲ 1.33% (+0.28)
Market Cap $2.10 B
52w High $23.67
52w Low $13.60
Dividend Yield 2.02%
P/E 7.84
Volume 391.19K
Outstanding Shares 97.99M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $343.108M ▲ $26.94M ▼ $77.715M ▲ 22.65% ▲ $0.79 ▲ $155.831M ▲
Q2-2025 $315.2M ▼ $83.5M ▲ $58.6M ▼ 18.591% ▼ $0.6 ▼ $130.3M ▼
Q1-2025 $329.1M ▲ $83.1M ▲ $62.9M ▼ 19.113% ▼ $0.64 ▼ $139.4M ▼
Q4-2024 $305.4M ▼ $73.3M ▼ $77.7M ▼ 25.442% ▼ $0.81 ▼ $142.3M ▼
Q3-2024 $372.1M $74.4M $130.5M 35.071% $1.38 $198.6M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $218.847M ▼ $3.185B ▼ $1.041B ▼ $2.144B ▲
Q2-2025 $369.8M ▲ $3.397B ▼ $1.289B ▼ $2.107B ▼
Q1-2025 $362.3M ▲ $3.487B ▲ $1.345B ▼ $2.141B ▲
Q4-2024 $271.9M ▼ $3.47B ▲ $1.395B ▲ $2.074B ▲
Q3-2024 $398.3M $3.415B $1.373B $2.04B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $77.715M ▲ $114.319M ▼ $-4.651M ▼ $-266.661M ▼ $-151.412M ▼ $79.154M ▼
Q2-2025 $58.6M ▼ $161.3M ▲ $5.1M ▼ $-157.7M ▼ $8.7M ▼ $133.4M ▲
Q1-2025 $62.9M ▼ $83.1M ▼ $43.4M ▲ $-47.3M ▲ $79.2M ▲ $55.1M ▲
Q4-2024 $77.4M ▼ $120.7M ▼ $-128.436M ▲ $-99.7M ▲ $-107.1M ▲ $-25.7M ▼
Q3-2024 $132.261M $246.188M $-155.189M $-229.192M $-133.835M $66.19M

Five-Year Company Overview

Income Statement

Income Statement TORM’s profits have improved dramatically over the past five years as tanker markets strengthened, with revenue and earnings rising sharply from 2020 onward. The business has moved from small losses to very healthy profitability, with strong margins that suggest efficient operations and good pricing power in recent years. More recently, revenue has continued to grow but profit per dollar of sales has eased a bit, pointing to some margin pressure as market conditions normalize from peak levels. Overall, the income statement shows a cyclical but currently strong earnings profile that is heavily tied to freight rates and global refined product demand.

Balance Sheet

Balance Sheet The balance sheet has strengthened over time. Total assets and shareholder equity have grown meaningfully, reflecting both investment in the fleet and accumulated profits. Debt has increased in recent years but remains comfortably below the company’s equity base, which signals a moderate use of leverage for a capital‑intensive industry like shipping. Cash balances are stable rather than abundant, but the combination of growing equity and manageable debt suggests a generally solid financial footing, provided market conditions do not deteriorate sharply for an extended period.

Cash Flow

Cash Flow TORM has been generating strong cash flow from its operations in recent years, converting a large portion of its accounting profits into cash. The company is clearly in an investment phase, with substantial spending on vessels and related assets. Even with this higher capital spending, free cash flow has remained positive in most years, which is a healthy sign. The one recent year with negative free cash flow coincided with especially heavy investment, not a collapse in operating cash generation. This profile fits a shipping company that is using a cyclical upswing to reinvest while still leaving room for shareholder returns and debt service.

Competitive Edge

Competitive Edge TORM appears to hold a solid competitive position within product tankers. Its “One TORM” integrated model, where commercial, technical, and crewing functions are all handled in‑house, can support lower costs, faster decisions, and more consistent service than operators relying heavily on outsourcing. A largely owned, modern, and fuel‑efficient fleet adds to that advantage and appeals to large, quality‑focused customers. Scale, strong customer relationships, and data‑driven fleet deployment deepen the company’s moat. At the same time, shipping remains a cyclical and relatively commoditized industry, so even strong operators are exposed to swings in freight rates, fuel costs, and regulatory changes.

Innovation and R&D

Innovation and R&D Innovation at TORM is centered on digitalization and environmental performance rather than traditional lab research. The company uses an integrated digital platform and advanced engine monitoring to optimize routes, fuel use, and maintenance, which can lift profitability and reliability. Its scrubber joint venture and fleet‑wide ballast water treatment adoption show a proactive approach to tightening environmental rules. Looking forward, TORM is exploring alternative fuels such as methanol and ammonia, as well as early‑stage ideas like onboard carbon capture. These efforts could help maintain regulatory compliance and customer appeal, but they also introduce technology and execution risks and will likely require ongoing capital investment.

Summary

Overall, TORM looks like a well‑positioned tanker owner that has benefited from a strong market cycle, turning that into high profits, robust cash generation, and a stronger balance sheet. The company combines operational scale, an integrated business model, and a modernizing fleet with a clear focus on digital tools and environmental compliance, which together provide a real competitive edge. The main risks are inherent to the sector: earnings are highly cyclical, sensitive to global trade flows, regulation, fuel costs, and interest rates. Future performance will depend on how well TORM navigates the eventual down‑cycle in freight rates while continuing to invest wisely in greener and more efficient vessels and technologies.

NEWS

November 14, 2025 · 4:56 AM UTC

TORM plc capital increase in connection with exercise of Restricted Share Units as part of TORM's incentive program

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November 14, 2025 · 4:52 AM UTC

Report of transactions in TORM plc securities by directors and executive officers and their closely associated persons

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November 12, 2025 · 4:03 AM UTC

TORM plc capital increase in connection with delivery of one LR2 vessel and exercise of Restricted Share Units as part of TORM's incentive program

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November 6, 2025 · 2:32 AM UTC

TORM plc Q3 2025 Results, Dividend Distribution, and Financial Outlook 2025

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September 23, 2025 · 11:31 AM UTC

TORM plc Long Term Incentive Program

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