Teekay Corp Ltd
teekay.comWhat Do They Do?
Operates crude oil and refined-product tankers and provides marine services, including vessel operations and maintenance, to energy companies, oil traders and governments.
20-F for FY2025, filed Mar 13, 2026The primary business of our Tankers segment, which is operated through Teekay Tankers, is to own and operate crude oil and refined product…View ↗
Expand our fleet through acquisitions. Since its initial public offering, Teekay Tankers has purchased a total of 65 tankers from Teekay…View ↗
Teekay has been operating in Australia for over 25 years and we are one of the largest employers of Australian seafarers. We leverage our…View ↗
How Do They Make Money?
Tanker customers pay for each cargo voyage when it ends, or for use of a vessel over a fixed period, usually billed monthly in advance. Australian customers pay for operations and maintenance services under long-term contracts; vessel-management fees are billed monthly.
20-F for FY2025, filed Mar 13, 2026The Company’s voyage charters will normally contain a lease; however, judgment is necessary to determine whether this is the case based…View ↗
Pursuant to a time charter, the Company charters a vessel to a customer for a fixed period of time, generally one year or more. The…View ↗
Teekay has been operating in Australia for over 25 years and we are one of the largest employers of Australian seafarers. We leverage our…View ↗
The Company generates revenue from the management and operation of vessels owned by third parties. Such services may include the…View ↗
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20-F for FY2025, filed Mar 13, 2026
FY2025 revenue by reportable segment ↗
$949.5M
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20-F for FY2025, filed Mar 13, 2026
$949.5M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Tankers
Mix
20-F for FY2025, filed Mar 13, 2026 |
87%
FY2022: 89%
|
Tankers, FY2025
$824M Sources
|
Mix |
|
Marine Services and Other
Recurring
20-F for FY2025, filed Mar 13, 2026 |
13%
FY2022: 11%
|
Marine Services and Other, FY2025
$125.5M Sources
|
Recurring |
Who Are Their Customers?
Energy companies, oil traders and other oil customers use tanker transportation; government agencies and energy companies also buy marine operations, maintenance, crewing and training services in Australia.
20-F for FY2025, filed Mar 13, 2026
Do Revenues Turn Into Profits?
Yes. It kept 10 cents of every revenue dollar as net income in FY2025 and turned 12 cents into free cash flow.
20-F for FY2025, filed Mar 13, 2026
$302.8MView ↗
20-F for FY2025, filed Mar 13, 2026
$98.1MView ↗
20-F for FY2025, filed Mar 13, 2026
$111.5MView ↗
How Are They Changing?
Growing. Revenue grew 39% in 4 years, from $682.5M in FY2021 to $949.5M in FY2025, about 9% a year.
Parent's direct operations
The older report described Teekay Parent's Australian operations and marine and corporate services to Teekay Tankers. The latest says the parent no longer has direct vessel or related management-company interests or employs personnel; Australian marine services remain part of the business.
20-F for FY2022, filed Mar 31, 2023 20-F for FY2025, filed Mar 13, 2026Following the sale of the Teekay Gas Business in January 2022, Teekay Parent repaid nearly all of its debt and is now debt free. As a…View ↗
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