DHT Holdings Inc
NYSE: DHT · ENERGY · OIL & GAS MIDSTREAM
Updated 2026-06-23
DHT Holdings Inc (DHT) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $86.79M | $81.43M | $114.60M | $102.58M | $89.68M | $100.12M | $97.19M | $87.01M | $150.79M | $365.11M | $356.01M | $355.05M | $375.94M | $535.07M | $691.04M | $295.85M | $454.14M | $560.56M | $571.77M | $497.20M |
| Revenue growth (YoY) | — | -6.2% | +40.7% | -10.5% | -12.6% | +11.6% | -2.9% | -10.5% | +73.3% | +142.1% | -2.5% | -0.3% | +5.9% | +42.3% | +29.1% | -57.2% | +53.5% | +23.4% | +2.0% | -13.0% |
| Cost of revenue | $18.69M | $19.42M | $21.41M | $30.03M | $30.22M | $38.25M | $74.18M | $76.51M | $137.22M | $207.36M | $211.54M | $282.49M | $341.17M | $381.41M | $347.00M | $298.85M | $382.57M | $350.00M | $258.22M | $307.45M |
| Gross profit | $68.10M | $62.00M | $93.19M | $72.54M | $59.46M | $61.88M | $23.02M | $10.50M | $13.57M | $157.76M | $144.47M | $72.56M | $34.77M | $153.66M | $344.04M | $-3.00M | $71.58M | $210.56M | $313.56M | $189.75M |
| Gross margin | 78.5% | 76.1% | 81.3% | 70.7% | 66.3% | 61.8% | 23.7% | 12.1% | 9.0% | 43.2% | 40.6% | 20.4% | 9.2% | 28.7% | 49.8% | -1.0% | 15.8% | 37.6% | 54.8% | 38.2% |
| R&D | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SG&A | $2.39M | $3.77M | $4.77M | $4.59M | $7.87M | $9.15M | $9.79M | $8.83M | $18.06M | $21.61M | $19.39M | $17.18M | $15.05M | $14.79M | $17.89M | $16.57M | $16.89M | $17.45M | $18.94M | $19.89M |
| Operating income | $48.80M | $40.96M | $62.48M | $41.19M | $23.20M | $-33.55M | $-89.50M | $1.01M | $27.41M | $135.34M | $40.51M | $43.30M | $16.30M | $138.87M | $313.59M | $202000.00 | $74.20M | $193.11M | $210.64M | $169.85M |
| Operating margin | 56.2% | 50.3% | 54.5% | 40.2% | 25.9% | -33.5% | -92.1% | 1.2% | 18.2% | 37.1% | 11.4% | 12.2% | 4.3% | 26.0% | 45.4% | 0.1% | 16.3% | 34.4% | 36.8% | 34.2% |
| EBITDA | $65.71M | $59.19M | $88.43M | $61.74M | $48.28M | $-2.22M | $-54.13M | $28.61M | $40.63M | $214.85M | $209.41M | $152.14M | $109.98M | $244.73M | $429.83M | $143.22M | $212.02M | $304.01M | $324.35M | $331.91M |
| EBITDA margin | 75.7% | 72.7% | 77.2% | 60.2% | 53.8% | -2.2% | -55.7% | 32.9% | 26.9% | 58.8% | 58.8% | 42.9% | 29.3% | 45.7% | 62.2% | 48.4% | 46.7% | 54.2% | 56.7% | 66.8% |
| EBIT | $48.64M | $41.76M | $62.48M | $30.73M | $19.89M | $-32.74M | $-86.53M | $1.68M | $-6.37M | $136.15M | $125.08M | $55.38M | $6.51M | $129.14M | $305.59M | $14.58M | $88.76M | $195.11M | $212.47M | $225.54M |
| Interest expense | $13.05M | $13.49M | $21.90M | $18.13M | $13.48M | $7.58M | $7.33M | $5.11M | $15.44M | $34.12M | $35.07M | $40.11M | $54.21M | $55.33M | $38.41M | $25.73M | $26.20M | $33.06M | $30.40M | $14.17M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $35.75M | $27.46M | $42.15M | $16.85M | $6.38M | $-40.27M | $-94.05M | $-4.13M | $12.89M | $105.30M | $9.26M | $6.60M | $-46.93M | $73.68M | $266.27M | $-11.52M | $61.52M | $161.35M | $181.38M | $211.09M |
| Net income growth (YoY) | — | -23.2% | +53.5% | -60.0% | -62.1% | -731.5% | -133.5% | +95.6% | +412.3% | +717.1% | -91.2% | -28.7% | -810.8% | +257.0% | +261.4% | -104.3% | +634.0% | +162.3% | +12.4% | +16.4% |
| Profit margin | 41.2% | 33.7% | 36.8% | 16.4% | 7.1% | -40.2% | -96.8% | -4.7% | 8.5% | 28.8% | 2.6% | 1.9% | -12.5% | 13.8% | 38.5% | -3.9% | 13.5% | 28.8% | 31.7% | 42.5% |
Frequently asked questions
What is DHT Holdings Inc's revenue?
DHT Holdings Inc's trailing twelve-month revenue is $659.44M, and consensus projects about $760.00M by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is DHT?
In its most recent fiscal year, DHT ran a gross margin of 38.16%, an operating margin of 34.16%, and a net margin of 42.46%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does DHT generate?
DHT produced $-33.29M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is DHT's balance sheet healthy?
DHT holds $79.03M in cash and equivalents against $389.24M in long-term debt, on $1.13B of shareholder equity. That debt is best read against the cash flow the business throws off each year.