TRMD
TORM plc
NasdaqGSUSDEQUITY
Energy
DELAYED
Strong buy
+78/100
Last price
39.05
▼ 2.00 (4.87%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
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Open
—
Prev close
41.05
Day high
39.50
Day low
38.37
Volume
7.42M
Market cap
$4.01B
P/E (TTM)
6.43
52W range
19.30 – 41.55
Trailing performance
Returnvs SPY
1W
+8.02%
+6.1%
1M
+11.00%
+9.8%
3M
+34.47%
+29.9%
6M
+32.37%
+14.2%
YTD
+99.44%
+85.2%
1Y
+78.07%
+61.6%
3Y
+41.90%
-40.4%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on TRMD open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
20.93M
Total on file
Fundamentals
Market cap$4.01B
Enterprise value$4.70B
Revenue (TTM)$1.76B
Gross profit$1.03B
EBITDA$913.80M
Net income$625.10M
EPS (TTM)$6.07
Free cash flow$15.41M
Total cash$377.20M
Total debt$1.08B
Book value / share$24.91
Shares outstanding102.65M
Float75.58M
Short % of float2.42%
Dividend yield11.33%
Beta (5Y)-0.02
Valuation & profitability ratios
Trailing P/E6.43
Forward P/E9.04
PEG ratio—
Price / sales—
Price / book1.57
EV / revenue2.67
EV / EBITDA5.14
Gross margin58.36%
Operating margin53.58%
Profit margin35.52%
Return on equity26.84%
Return on assets11.90%
Debt / equity42.20
Current ratio2.27
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $1.34B | $1.56B | $1.52B | $1.44B | -14.1% |
| Operating revenue | $1.34B | $1.56B | $1.52B | $1.44B | -14.1% |
| Cost of revenue | $636.10M | $610.50M | $579.60M | $598.50M | +4.2% |
| Gross profit | $703.40M | $948.70M | $940.80M | $844.90M | -25.9% |
| Selling, general & admin | $113.80M | $95.60M | $82.90M | $55.00M | +19.0% |
| Total operating expense | $366.10M | $341.20M | $292.60M | $251.20M | +7.3% |
| Operating income | $337.30M | $607.50M | $648.20M | $593.70M | -44.5% |
| Net interest income | -$61.40M | -$48.60M | -$46.20M | -$44.30M | -26.3% |
| Pre-tax income | $295.20M | $609.50M | $652.00M | $556.70M | -51.6% |
| Tax provision | $9.20M | -$2.00M | $4.00M | -$5.90M | +560.0% |
| Net income | $285.30M | $612.50M | $648.30M | $562.80M | -53.4% |
| Net income to common | $285.30M | $612.50M | $648.30M | $562.80M | -53.4% |
| Basic EPS | 2.91 | 6.54 | 7.75 | 6.92 | -55.5% |
| Diluted EPS | 2.85 | 6.36 | 7.48 | 6.80 | -55.2% |
| EBIT | $364.30M | $679.80M | $708.10M | $605.40M | -46.4% |
| EBITDA | $578.80M | $871.80M | $857.40M | $744.40M | -33.6% |
| Basic shares | 98.20M | 93.60M | 83.60M | 81.30M | +4.9% |
| Diluted shares | 100.10M | 96.30M | 86.70M | 82.80M | +3.9% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $158.10M | $271.90M | $265.50M | $320.50M | -41.9% |
| Cash & short-term investments | $158.10M | $271.90M | $265.50M | $320.50M | -41.9% |
| Accounts receivable | $214.70M | $183.90M | $211.70M | $259.50M | +16.7% |
| Inventory | $66.50M | $68.40M | $61.70M | $72.00M | -2.8% |
| Total current assets | $531.90M | $615.30M | $691.20M | $739.70M | -13.6% |
| Property, plant & equipment | $2.82B | $2.84B | $2.17B | $1.87B | -0.7% |
| Goodwill & intangibles | $5.80M | $3.70M | $3.60M | $3.70M | +56.8% |
| Total assets | $3.37B | $3.47B | $2.87B | $2.61B | -3.0% |
| Total current liabilities | $401.40M | $285.40M | $265.40M | $206.40M | +40.6% |
| Current debt | $288.80M | $165.30M | $172.70M | $117.10M | +74.7% |
| Long-term debt | $714.30M | $1.06B | $886.90M | $849.80M | -32.7% |
| Total debt | $1.00B | $1.23B | $1.06B | $966.90M | -18.2% |
| Total liabilities | $1.16B | $1.39B | $1.20B | $1.11B | -16.5% |
| Retained earnings | $1.79B | $1.47B | $1.38B | $1.30B | +21.6% |
| Shareholder equity | $2.20B | $2.07B | $1.66B | $1.50B | +6.2% |
| Working capital | $130.50M | $329.90M | $425.80M | $533.30M | -60.4% |
| Net tangible assets | $2.20B | $2.07B | $1.66B | $1.50B | +6.1% |
| Shares issued | 101.33M | 97.81M | 86.23M | 82.31M | +3.6% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Net income | $286.00M | $611.50M | $648.00M | $562.60M | — | -53.2% |
| Depreciation & amortisation | $214.50M | $192.00M | $149.30M | $139.00M | — | +11.7% |
| Stock-based compensation | $34.10M | $30.20M | $22.50M | $2.20M | — | +12.9% |
| Change in working capital | -$33.50M | $47.80M | $47.80M | -$180.90M | — | -170.1% |
| Operating cash flow | $498.90M | $826.80M | $805.00M | $502.00M | — | -39.7% |
| Capital expenditure | -$310.30M | -$583.50M | -$510.30M | -$119.90M | — | +46.8% |
| Investing cash flow | -$152.60M | -$442.10M | -$370.60M | $11.30M | — | +65.5% |
| Share buybacks | — | — | — | $0 | $0 | — |
| Dividends paid | -$199.70M | -$553.30M | -$586.40M | -$166.70M | — | +63.9% |
| Financing cash flow | -$460.10M | -$378.30M | -$489.40M | -$337.60M | — | -21.6% |
| Free cash flow | $188.60M | $243.30M | $294.70M | $382.10M | — | -22.5% |
| End cash position | $163.50M | $291.20M | $295.60M | $323.80M | — | -43.9% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | — | $402.00M | $352.60M | $342.60M | $315.20M | $329.10M | — |
| Operating revenue | — | $402.00M | $352.60M | $342.60M | $315.20M | $329.10M | — |
| Cost of revenue | — | $174.20M | $156.40M | $159.00M | $157.10M | $163.70M | — |
| Gross profit | — | $227.80M | $196.20M | $183.60M | $158.10M | $165.40M | — |
| Selling, general & admin | — | $23.00M | $29.20M | $29.20M | $24.50M | $25.90M | — |
| Total operating expense | — | $90.50M | $98.60M | $85.90M | $88.90M | $92.50M | — |
| Operating income | — | $137.30M | $97.60M | $97.70M | $69.20M | $72.90M | — |
| Net interest income | — | -$17.30M | -$13.10M | -$20.20M | -$14.20M | -$14.00M | — |
| Pre-tax income | — | $124.00M | $87.60M | $78.80M | $60.40M | $68.30M | — |
| Tax provision | — | $1.60M | $800.00K | $1.20M | $1.70M | $5.40M | — |
| Net income | — | $122.40M | $86.80M | $77.60M | $58.60M | $62.90M | — |
| Net income to common | — | $122.40M | $86.80M | $77.60M | $58.60M | $62.90M | — |
| Basic EPS | 3.31 | 1.21 | — | 0.79 | 0.60 | 0.64 | +173.6% |
| Diluted EPS | 3.25 | 1.18 | — | 0.77 | 0.58 | 0.62 | +175.4% |
| EBIT | — | $142.90M | $97.60M | $102.50M | $78.20M | $86.10M | — |
| EBITDA | — | $202.60M | $153.60M | $155.60M | $130.30M | $139.40M | — |
| Basic shares | 102.20M | 101.50M | — | 98.00M | 97.80M | 97.40M | +0.7% |
| Diluted shares | 104.20M | 103.30M | — | 100.80M | 100.80M | 100.70M | +0.9% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $196.40M | $158.10M | $219.70M | $369.80M | $362.30M | +24.2% |
| Cash & short-term investments | $196.40M | $158.10M | $219.70M | $369.80M | $362.30M | +24.2% |
| Accounts receivable | $249.60M | $214.70M | $184.80M | $170.90M | $196.30M | +16.3% |
| Inventory | $82.50M | $66.50M | $65.00M | $69.50M | $72.50M | +24.1% |
| Total current assets | $575.50M | $531.90M | $517.70M | $682.80M | $694.20M | +8.2% |
| Property, plant & equipment | $2.94B | $2.82B | $2.67B | $2.70B | $2.78B | +4.2% |
| Goodwill & intangibles | $5.70M | $5.80M | $4.20M | $4.10M | $4.20M | -1.7% |
| Total assets | $3.53B | $3.37B | $3.20B | $3.40B | $3.49B | +4.9% |
| Total current liabilities | $410.90M | $401.40M | $218.90M | $266.10M | $272.20M | +2.4% |
| Current debt | $286.70M | $288.80M | $121.90M | $156.20M | $161.40M | -0.7% |
| Long-term debt | $795.10M | $714.30M | $777.50M | $969.80M | $1.02B | +11.3% |
| Total debt | $1.08B | $1.00B | $899.40M | $1.13B | $1.18B | +7.8% |
| Total liabilities | $1.26B | $1.16B | $1.04B | $1.29B | $1.34B | +8.2% |
| Retained earnings | $1.92B | $1.79B | $1.69B | $1.60B | $1.54B | +7.1% |
| Shareholder equity | $2.27B | $2.20B | $2.15B | $2.11B | $2.14B | +3.2% |
| Working capital | $164.60M | $130.50M | $298.80M | $416.70M | $422.00M | +26.1% |
| Net tangible assets | $2.27B | $2.20B | $2.15B | $2.10B | $2.14B | +3.2% |
| Shares issued | 102.12M | 101.33M | 97.95M | 97.95M | 98.25M | +0.8% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|
| Net income | $122.40M | $86.80M | $77.60M | $58.70M | $62.90M | +41.0% |
| Depreciation & amortisation | $59.70M | $56.00M | $53.10M | $52.10M | $53.30M | +6.6% |
| Change in working capital | -$47.30M | -$13.70M | -$26.00M | $39.80M | -$33.60M | -245.3% |
| Operating cash flow | $135.90M | $135.00M | $119.50M | $161.30M | $83.10M | +0.7% |
| Capital expenditure | -$184.30M | -$217.70M | -$36.50M | -$28.10M | -$28.00M | +15.3% |
| Investing cash flow | -$152.60M | -$197.50M | -$3.60M | $5.10M | $43.40M | +22.7% |
| Dividends paid | -$71.40M | -$62.80M | -$39.20M | -$97.70M | $0 | -13.7% |
| Financing cash flow | $52.00M | $11.30M | -$266.40M | -$157.70M | -$47.30M | +360.2% |
| Free cash flow | -$48.40M | -$82.70M | $83.00M | $133.20M | $55.10M | +41.5% |
| End cash position | $193.40M | $163.50M | $219.70M | $369.80M | $351.10M | +18.3% |
Options analytics
Put / call volume
0.22
Call-heavy session
Put / call open interest
—
Positioning, not flow
Max pain
17.50
-55.2% from spot
ATM implied vol
3.1%
Nearest strike to spot
Skew (10% OTM)
0.0%
Calls bid over puts
Call volume
2.82K
Contracts, this expiry
Put volume
619
Contracts, this expiry
Heaviest call OI
15.00
0 contracts
Heaviest put OI
17.50
22 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 3.90 | 3.26 | -16.4% |
| Mar 2026 | 1.23 | 1.17 | -4.7% |
| Dec 2025 | 0.85 | 0.85 | +0.3% |
| Sep 2025 | 0.77 | 0.84 | +10.3% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 1.56 | 1 | $355.61M | +3.8% |
| Next quarter | 1.61 | 1 | $399.19M | +13.2% |
| Current year | 7.60 | 1 | $1.53B | +13.9% |
| Next year | 4.32 | 1 | $1.34B | -12.0% |
Analyst targets & ownership
Mean target$41.50
High target$45.00
Low target$38.00
Implied upside6.27%
Analyst count2
ConsensusSTRONG BUY
Strong buy / Buy1 / 1
Hold0
Sell / Strong sell0 / 0
Held by insiders20.44%
Held by institutions37.57%
Institutions holding224
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
37.16
+5.10% from price
SMA 20
36.51
+6.96% from price
SMA 50
33.20
+17.61% from price
SMA 100
31.22
+25.09% from price
SMA 200
28.94
+34.93% from price
EMA 12
37.67
+3.66% from price
EMA 26
35.97
+8.55% from price
EMA 50
34.13
+14.40% from price
RSI (14)
63.3
Neutral
MACD (12,26,9)
1.70
Hist 0.31
ATR (14)
1.71
4.37% of price
Realised vol 30D
46.1%
Annualised
Bollinger upper
40.50
20, 2σ
Bollinger lower
32.51
20, 2σ
50 / 200 cross
Golden
33.20 vs 28.94
Trend bias
Above 200
+34.93%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.41
Less volatile than market
Correlation to SPY
0.13
Largely independent
Realised vol 30D
46.1%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-25.3%
Peak to trough
Max drawdown 5Y
-65.5%
Peak to trough
ATR 14
1.71
4.37% of price
Beta (reported)
-0.02
5Y monthly, from filing
Short interest
Shares short
1.48M
Prior 1.01M
Change vs prior
+46.6%
Shorts adding
% of float
2.42%
Normal
% of shares out
1.44%
Against total outstanding
Days to cover
1.1
Liquid
Float
75.58M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Aug 27, 26 | Evercore ISI Group | MAINTAINED | Outperform | Outperform |
| Jul 22, 26 | Evercore ISI Group | MAINTAINED | Outperform | Outperform |
| Apr 22, 26 | Evercore ISI Group | MAINTAINED | Outperform | Outperform |
| Feb 27, 26 | Evercore ISI Group | MAINTAINED | Outperform | Outperform |
| Apr 22, 25 | Evercore ISI Group | MAINTAINED | Outperform | Outperform |
| Nov 14, 24 | Jefferies | MAINTAINED | Buy | Buy |
| Jul 23, 24 | Evercore ISI Group | MAINTAINED | Outperform | Outperform |
| Mar 8, 24 | Evercore ISI Group | MAINTAINED | Outperform | Outperform |
| May 12, 22 | HC Wainwright & Co. | MAINTAINED | — | Buy |
| Apr 12, 22 | HC Wainwright & Co. | INITIATED | — | Buy |
Dividends & splits
Forward rate$4.42 / yr
Forward yield11.33%
5-year avg yield10.72%
Payout ratio39.87%
Ex-dividend dateSep 10, 2026
Next pay dateSep 24, 2026
Last split—
Split date—
SEC filings
Corporate Changes & Voting Matters
6-K · 2026-10-05
Corporate Changes & Voting Matters
6-K · 2026-09-28
Corporate Changes & Voting Matters
6-K · 2026-09-24
Corporate Changes & Voting Matters
6-K · 2026-09-18
Corporate Changes & Voting Matters
6-K · 2026-09-11
Corporate Changes & Voting Matters
6-K · 2026-09-02
Corporate Changes & Voting Matters
6-K · 2026-08-26
Corporate Changes & Voting Matters
6-K · 2026-08-24
Headlines
TORM plc capital increase in connection with exercise of Restricted Share Units as part of TORM's incentive program
PR Newswire · 13m ago
TORM plc announces pricing of secondary public offering of its class A common shares
PR Newswire · 20h ago
TORM plc announces secondary public offering of its class A common shares by a selling shareholder
PR Newswire · 1d ago
Report on transactions in TORM plc securities by directors and executive officers and their closely associated persons
PR Newswire · 9d ago
Torm PLC - Major Shareholder Announcement
PR Newswire · 9d ago
Hafnia stock falls after increasing stake in Torm to 19.85%
Investing.com · 13d ago
TORM plc capital increase in connection with RSU exercise as part of TORM's incentive program
PR Newswire · 13d ago
HAFNIA LIMITED: Acquisition of an Additional 1.7 Million TORM Shares
Business Wire · 13d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
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