Teekay Corporation Ltd. TK

Competitive advantage analysis · energy

Corporate Default
Overall moat score
56/100
Moderate

About Teekay Corporation Ltd.

Teekay Corporation Ltd. provides crude oil marine transportation and other marine services worldwide. The company operates in two segments, Tankers and Marine Services. It owns and operates crude oil and refined product tankers. The company also offers ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services. As of March 1, 2025, it operated a fleet … Full TK analysis →

Competitive advantage assessment

Key strengths

  • Strong Interest Coverage & Conservative Leverage Debt serviceability is strong (score 0.98), with robust interest coverage.
  • ROIC Sustainably Above Peers ROIC at 100.0th percentile exceeds peers and WACC, demonstrating superior capital allocation.

Key risks

  • Commodity Pressure / Weak Differentiation Gross margin at 27.4th percentile with high volatility suggests weak pricing power or commoditized products.
  • Revenue Volatility Signals Weak Stickiness Revenue volatility is high (stability score 0.24), suggesting weak customer stickiness.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
32

Where TK ranks in Oil & Gas Midstream

Teekay Corporation Ltd. ranks #19 of 56 scored companies in Oil & Gas Midstream by moat score — the top 34%. The widest moat in the group is Hess Midstream LP (HESM) at 84/100.

Moat scores for companies ranked near TK in Oil & Gas Midstream
# Company Moat score Rating
15 TC Energy Corporation TRP 61/100 Moderate
16 Dorian LPG Ltd. LPG 60/100 Moderate
17 Cool Company Ltd. CLCO 59/100 Moderate
18 International Seaways, Inc. INSW 59/100 Moderate
19 Teekay Corporation Ltd. TK 56/100 Moderate
20 Scorpio Tankers Inc. STNG 56/100 Moderate
21 Frontline Plc FRO 55/100 Moderate
22 Kinder Morgan, Inc. KMI 55/100 Moderate
23 Pembina Pipeline Corp. PBA 55/100 Moderate

See every Commodities & Mining company ranked by moat score →

How TK scores on the Corporate Default defenses

Pricing Power

Score 32 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 48 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 35 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 73 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 86 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 62 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding TK's moat

What is Teekay Corporation Ltd.'s moat score?

Teekay Corporation Ltd. (TK) scores 56 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #19 of 56 scored companies in Oil & Gas Midstream, the top 34%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 67 companies in Oil & Gas Midstream. Its strongest defense is Resilience (86/100) and its weakest is Pricing Power (32/100).

How does Teekay Corporation Ltd. compare with other Oil & Gas Midstream companies?

Teekay Corporation Ltd. ranks #19 of 56 scored companies in Oil & Gas Midstream by moat score. The widest moat in Oil & Gas Midstream is Hess Midstream LP (HESM) at 84/100. The companies ranked closest are International Seaways, Inc. (INSW) at 58 just above it and Scorpio Tankers Inc. (STNG) at 56 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 67 companies in Oil & Gas Midstream. The defenses are then weighted to produce the overall score out of 100.

Why is Teekay Corporation Ltd. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Teekay Corporation Ltd.?

The Corporate Default template measures 6 defenses, and TK scores: Pricing Power (32), Cost Advantage (48), Customer Stickiness (35), Capital Efficiency (73), Resilience (86), Scale & Market Position (62). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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