International Seaways, Inc. (INSW)

Water Transportation

Latest Price

$107.74

TTM P/E

6.89

Normalized P/E

12.54

Div Yield

Book Value

45.79

P/B Ratio

2.35

Valuation metrics

EPS: $6.23

Book value / share: $40.89

Formula: √(22.5 × EPS × BVPS)

Graham Number

$75.71

30% downside

Norm. op. income: $345M (median of 7yr)

Tax rate: 5%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$58.32

46% downside

Base FCF: $403M (median of recent 5yr)

Growth: 7%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$150.51

+40% upside

EPS: $6.23

Target P/E: 13×

Formula: EPS × P/E

P/E Fair Value

$80.99

25% downside