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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
DHT Holdings, Inc., through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, Norway, and India. The company also offers technical management services. As of December 15, 2025, it had a fleet of 22 very large crude carriers.
How they make money
DHT Holdings, Inc. is an independent crude oil tanker company that generates revenue primarily by chartering its fleet of Very Large Crude Carriers (VLCCs) to international oil companies, traders, and refiners. The company operates its vessels under a mix of time charters and spot market voyages, with earnings dependent on global oil demand, tanker supply, and prevailing freight rates.
Products & services
The company provides international maritime transportation services for crude oil using a fleet of double-hull Very Large Crude Carriers (VLCCs).
Brands & revenue mix
DHT Holdings
The primary corporate brand under which the company operates its fleet of VLCCs.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
The company typically operates in a market where revenue is derived from various international oil companies and traders; specific concentration details are disclosed in the notes to the financial statements of the 2025 Form 20-F.
Suppliers, materials & equipment
Ernst & Young AS — Independent registered public accounting firm providing audit services.Source
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Total debt increased 43.6% versus the same quarter last year.
Compare the added borrowing with available cash, cash generation and maturities. A percentage increase from a small starting balance can look large without measuring the full debt burden.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
60
Fair
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
74
Strong
Financial Strength
78
Business Quality / Moat
34
Management
100
Growth Quality
87
Risk / Durability
90
Great Company · Attractive Price
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
77
Fair
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
73/100
Building Historical Record
Model Score 73/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is mixed across its combined quality, valuation and risk inputs. Review the category scores to identify what is helping or hurting the result.
At today’s price, the WSS valuation framework currently reads as relatively attractive.
The model outlook is currently positive.
What we like
•Balance-sheet / debt profile scores strongly
•Valuation scores attractively
What to watch
•Asset quality is a weaker factor
Company-specific research
Questions worth answering for DHT
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can DHT maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•How long can DHT fund negative free cash flow using its current cash position before it may need more debt or new shares?
•Is DHT's debt load manageable relative to cash generation, interest costs and upcoming maturities?
•Is DHT's valuation discount tied to a temporary concern or to a longer-term business risk?
•What does the current fundamental change risk warning mean for the reliability or interpretation of DHT's score?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for DHT
Detected from reported data — verify before acting.
Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on DHT.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Modern fleet of VLCCs.
+Experienced management team.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Marine Shipping industry.
−Volatility in tanker charter rates.
−Fluctuations in oil demand and supply.
−Operational risks including maritime accidents and environmental regulations.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Fair60/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Strong
76
Debt Cost3.3%
Debt Reduction YoY-3.7%
Debt / Equity0.38x
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Revenue
Fair
55
Revenue YoY45.4%
Revenue CAGR-5.8%
Net Margin65.5%
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Asset
Poor
36
Asset Growth YoY7.8%
Liquidation/Share$8.27
Net Assets/MCap0.38x
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Capital
Fair
69
Earnings Yield13.0%
Buyback Yield0.4%
Debt Cost3.3%
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Management
Elite
100
ROIC10.6%
ROE35.6%
ROA26.2%
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Moat
Poor
34
EPS Growth16.4%
FCF/Share Growth—
Rev/Share Growth-2.4%
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Valuation
Elite
100
Intrinsic Value$43.01
Value Reference$25.81
MOS42.8%
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Buffett
Fair
65
Revenue55
Moat34
Valuation100
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MOS
Elite
100
MOS %42.8%
Value Reference$25.81
Deep Discount Reference$17.20
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Financial
Poor
23
Interest Coverage12.0x
ROIC10.6%
FCF Yield-0.9%
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Master
Fair
64
Financial23
Valuation100
Debt76
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Resilience
Fair
60
Survival Years2.4 yrs
Current Ratio2.80x
FCF Margin-6.7%
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Score Changes
6 historical score records available
Previous Score
60
Sep 17, 2026
Change
-0.1
points
Current Score
60
Oct 1, 2026
Category Changes
Revenue+0.2
Debt0
Assets+0.2
Capital0
Management0
Moat-0.9
Valuation0
Buffett-0.1
DHT decreased 0.1 points because some fundamentals weakened.
Projected Score
Projected Score
68
Projected Change
+8.2 points
Preliminary comparable-period financial changes suggest improvement of approximately 8.2 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$722.8M
$497.2M
$571.8M
$560.6M
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Cost of Revenue
$292.7M
$307.5M
$258.2M
$350.0M
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Gross Profit
$430.1M
$189.7M
$313.6M
$210.6M
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Research & Development
$0.00
$0.00
$0.00
$0.00
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SG&A Expenses
$20.3M
$19.9M
$18.9M
$17.4M
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Operating Expenses
$3.6M
$19.9M
$102.9M
$17.4M
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EBITDA
$596.3M
$331.9M
$324.4M
$304.0M
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Operating Income
$426.4M
$169.9M
$210.6M
$193.1M
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Interest Expense
$15.7M
$14.2M
$30.4M
$33.1M
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Income Before Tax
$474.2M
$211.4M
$182.1M
$162.0M
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Income Tax Expense
$488K
$413K
$608K
$649K
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Net Income
$473.7M
$211.1M
$181.4M
$161.4M
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Basic EPS
$2.94
$1.31
$1.12
$0.99
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Basic Shares
161M
161M
161M
162M
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Diluted Shares
161M
161M
161M
162M
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Upgrade to Premium for up to 10 annual periods, where available.
Estimated earnings date:A future estimated earnings date is not currently available.
Jun 30, 2026Q2FY2026
Revenue
$285.0M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$1.23
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+43.6%
Cash Change
+95.6%
Margin Change
+25.9 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Margins expanded
Cash position grew
What Weakened
Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels, net income margin. Pressure indicators included debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 122.1%. EPS increased 251.4%. Cash increased 95.6%. Total debt increased 43.6%. Net income margin improved by 25.9 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
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Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
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