Teekay Tankers was Teekay’s largest revenue line in fiscal 2021, bringing in $532.06M of $622.08M (86%).
| Legal Entity | FY 2014 | FY 2015 | FY 2019 | FY 2020 | FY 2021 |
|---|---|---|---|---|---|
| Teekay Offshore | — | — | — | ||
| Teekay Lng | — | — | — | ||
| Teekay Tankers | $941.94M | $875.52M | $532.06M | ||
| Teekay Parent | $100.23M | $126.10M | $90.03M | ||
| Total | $1.04B | $1.00B | $622.08M |
Teekay brought in $622.08M from its two revenue lines in fiscal 2021, the year ended December 31, 2021. That was down 37.9% from $1.00B in fiscal 2020. Teekay Tankers was the largest at $532.06M (85.5%), ahead of Teekay Parent at $90.03M (14.5%).
Compared with fiscal 2020, Teekay Parent fell 28.6% to $90.03M and Teekay Tankers fell 39.2% to $532.06M. From fiscal 2019 to 2021, combined revenue from these revenue lines fell from $1.04B to $622.08M, a compound annual decline of 22.7%. Teekay Tankers' share of the total fell from 90.4% to 85.5%.
Voyage Charters - Suezmax was Teekay’s largest product and service line in fiscal 2023, bringing in $669.33M of $1.47B (45%).
| Product and Service | FY 2020 | FY 2021 | FY 2022 | FY 2023 |
|---|---|---|---|---|
| Voyage Charters | $741.80M | $485.90M | $1.04B | — |
| Voyage Charters - Suezmax | — | — | — | $669.33M |
| Voyage Charters - Aframax & Lr2 | — | — | — | $652.15M |
| Management Fees & Other | $133.72M | $90.03M | $100.01M | — |
| Vessel Operational & Maintenance Services, Other Revenue | — | — | — | $97.54M |
| Time Charters | $144.75M | $46.16M | $14.74M | — |
| Fpso | $108.95M | $47.90M | $27.06M | — |
| Time Charters - Aframax/Lr2 | — | — | — | $16.87M |
| Time Charters - Suezmax | — | — | — | $14.28M |
| Other Revenue | — | — | — | $11.82M |
| Ship-To-Ship Support Services, Other Revenue | — | — | — | $7.95M |
| Management Fees & Other, Other Revenue | — | — | — | $2.99M |
| Total | $1.13B | $669.98M | $1.18B | $1.47B |
Teekay brought in $1.47B from its eight product and service lines in fiscal 2023, the year ended December 31, 2023. Teekay regrouped these lines after fiscal 2022, so the total does not compare directly with that year's $1.18B. Voyage Charters - Suezmax was the largest at $669.33M (45.4%), ahead of Voyage Charters - Aframax & Lr2 at $652.15M (44.3%) and Vessel Operational & Maintenance Services, Other Revenue at $97.54M (6.6%). The other five lines brought in $53.90M combined.
Teekay began breaking out Voyage Charters - Suezmax in fiscal 2023, Voyage Charters - Aframax & Lr2 in fiscal 2023, Vessel Operational & Maintenance Services, Other Revenue in fiscal 2023 and Time Charters - Aframax/Lr2 in fiscal 2023. Teekay stopped reporting Voyage Charters ($1.04B in fiscal 2022), Management Fees & Other ($100.01M in fiscal 2022), Fpso ($27.06M in fiscal 2022) and one other as separate lines.
Tankers was Teekay’s largest segment in fiscal 2024, bringing in $547.26M of $659.08M (83%).
| Statement Business Segments | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Conventional Tanker Segment | — | — | — | — | ||||||
| Tankers | $532.06M | $1.04B | $669.33M | $547.26M | ||||||
| Shuttle Tanker & Fso | — | — | — | — | ||||||
| Shuttle Tanker & Fso Segment | — | — | — | — | ||||||
| Shuttle Tanker, Fso & Offshore Support | — | — | — | — | ||||||
| Offshore Logistics | — | — | — | — | ||||||
| Conventional Tanker | — | — | — | — | ||||||
| Fpso | — | — | — | — | ||||||
| Liquefied Gas Carriers | — | — | — | — | ||||||
| Liquefied Gas | — | — | — | — | ||||||
| Offshore Production | — | — | — | — | ||||||
| Conventional Tankers | — | — | — | — | ||||||
| Other | $90.03M | — | — | — | ||||||
| Marine Services & Other | — | $100.01M | $97.54M | $111.82M | ||||||
| Total | $622.08M | $1.14B | $766.87M | $659.08M |
Teekay brought in $659.08M from its two segments in fiscal 2024, the year ended December 31, 2024. That was down 14.1% from $766.87M in fiscal 2023. Tankers was the largest at $547.26M (83.0%), ahead of Marine Services & Other at $111.82M (17.0%).
Compared with fiscal 2023, Marine Services & Other grew 14.6% to $111.82M, while Tankers fell 18.2% to $547.26M.
Teekay began breaking out Marine Services & Other in fiscal 2022, when it brought in $100.01M. Teekay stopped reporting Other as a separate segment after fiscal 2021, when it brought in $90.03M.
Teekay (TK) reports its revenue by legal entity, by product and service and by statement business segments. In fiscal 2021, Teekay Tankers was its largest revenue line, bringing in $532.06M (85.5% of the total), followed by Teekay Parent at $90.03M (14.5%).
Teekay Tankers was Teekay's largest revenue line in fiscal 2021, bringing in $532.06M, or 85.5% of the $622.08M total across its two revenue lines.
Voyage Charters - Suezmax was Teekay's largest product and service line in fiscal 2023, bringing in $669.33M, or 45.4% of the $1.47B total across its eight product and service lines.
Tankers was Teekay's largest segment in fiscal 2024, bringing in $547.26M, or 83.0% of the $659.08M total across its two segments.
Marine Services & Other grew faster than Tankers in fiscal 2024, up 14.6% from $97.54M to $111.82M. Tankers fell 18.2% to $547.26M.
Every figure comes from Teekay's annual financial filings, as reported. Each line keeps the name Teekay gives it, and years follow its fiscal calendar.
Teekay's revenue by legal entity goes back to fiscal 2014, with figures through fiscal 2021. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.