HMR vs TNK: How Heidmar Maritime Holdings Corp. and Teekay Tankers Compare (2026)
Last updated August 2026
Short answer
TNK is the larger of the two ($2.75B market cap): the incumbent the market prices for continued execution (8.72x forward earnings, beta -0.25). HMR is the smaller challenger ($70.96M), cheaper on forward earnings (7.52x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
HMR vs TNK: the tie-breaker metrics
Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | HMR | TNK | What it tells you |
|---|---|---|---|
| Market cap | $70.96M | $2.75B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 7.52 | 8.72 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Price vs 52-week range | 48% of range | 89% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 4.97 | 1.26 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: HMR is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how HMR and TNK affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. HMR and TNK share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined HMR and TNK exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Heidmar Maritime Holdings Corp. (HMR) do?
Heidmar is a commercial manager and pool operator for tankers. The operating business traces back to 1984 and runs branded vessel pools including Seawolf (VLCC), Blue Fin (Suezmax), Sigma (Aframax and LR2), Star Tankers (Panamax and LR1) and Dorado (MR product tankers). Shipowners place vessels into these pools, Heidmar markets the combined tonnage to charterers, and pool earnings flow back to participants while Heidmar collects commissions and management fees. On top of that fee business it charters in vessels itself and re-employs them on spot voyages and time charters to capture the spread, provides technical management and crewing, and sells eFleetWatch, a digital tool for tracking and managing vessels. As of April 2026 it reported roughly 50 vessels under commercial management representing about 6.5 million dwt, and the July 2026 acquisition of Dutch ship manager Q-Shipping B.V. added about 16 vessels under technical management plus footholds in the Netherlands, Turkey and a crewing base in Ukraine. The holding company was incorporated in May 2024 and is headquartered in Piraeus, Greece.
What does Teekay Tankers (TNK) do?
Teekay Tankers is one of the world's larger owners and operators of mid-size crude oil tankers, running a fleet of Suezmax, Aframax and LR2, and VLCC vessels that carry crude and refined products around the world. The company earns most of its money on the spot market, chartering ships voyage by voyage at rates that rise and fall with tanker supply and demand, and supplements that with some fixed-rate time charters and a ship-to-ship transfer and management business. Because it is spot-heavy, revenue and profit are tightly linked to daily charter rates, which can multiply or collapse over a single year.
HMR vs TNK: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- HMR drivers: A tanker cycle stretched by sanctions and longer voyages; Asset-light fleet growth is the actual growth engine.
- TNK drivers: Strong tanker rate cycle; Net-cash balance sheet and capital returns.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The concentration here is severe on every axis at once. For TNK, teekay Tankers is deeply cyclical, and its spot exposure means earnings can fall as fast as they rose if charter rates normalize or decline.
HMR or TNK: which should you pick?
Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick HMR if you believe its drivers more; TNK if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the HMR and TNK guides.
HMR vs TNK: the full fundamentals
HMR. The headline that revenue (~$68M trailing) sits close to market cap (~$71M) is real but needs unpacking, because the two revenue lines are not economically alike. In the first quarter of 2026, trade revenues (commissions and management fees, the high-margin asset-light core) were roughly $5.7M, while voyage and time charter revenues were roughly $12.7M against roughly $11.2M of operating lease and charter-in costs, so the larger line is gross revenue on chartered-in tonnage that converts to only a thin spread. Across full-year 2025 the same split was roughly $12.3M of trade revenue against roughly $43.5M of voyage and time charter revenue, and adjusted EBITDA for the whole year was essentially breakeven at roughly $51,000 before the first quarter of 2026 delivered roughly $3.3M of adjusted EBITDA on its own.
TNK. TNK trades at a low single-digit to high-single-digit earnings multiple and a deeply discounted EV/EBITDA, typical of tanker stocks that the market prices for a coming rate downturn. Reported profits reflect near-peak charter rates, so trailing valuation multiples can look cheap precisely because investors doubt earnings are sustainable. The net-cash balance sheet and record profitability drove the stock up sharply over the past year.
Headline figures (approximate, August 2026): HMR shows revenue (ttm) ~$68M, q1 2026 revenue ~$18.4M, up from ~$5.8M a year earlier, q1 2026 net income ~$2.8M (~$0.05 per basic share), fy2025 net loss ~$22.6M total, ~$8.6M from continuing operations; TNK shows revenue (fy2025) ~$952 million, gaap net income (fy2025) ~$351 million (~$10.15/share), adjusted net income (fy2025) ~$241 million, revenue (q1 2026) ~$286 million.
The bottom line: HMR vs TNK
HMR and TNK are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined HMR and TNK exposure against your real portfolio. It is not an investment adviser.
Wondering how HMR or TNK fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Heidmar Maritime Holdings Corp. with AI
Connect the broker you already use and ask Walnut's AI how HMR fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between HMR and TNK?
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Heidmar is a commercial manager and pool operator for tankers. Teekay Tankers is one of the world's larger owners and operators of mid-size crude oil tankers, running a fleet of Suezmax, Aframax and LR2, and VLCC vessels that carry crude and refined products around the world. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is HMR or TNK the better stock?
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Neither is universally better. TNK is the larger incumbent; HMR is the smaller challenger and looks cheaper on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, HMR or TNK?
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On forward P/E (as of August 2026), HMR trades at 7.52x and TNK at 8.72x, so HMR is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both HMR and TNK?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of HMR vs TNK?
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HMR: The concentration here is severe on every axis at once. Two related shareholders, Rhea Marine Ltd. and Maistros Shipinvest Corp., each hold roughly 26.2 million of roughly 59.0 million shares outstanding, so Heidmar qualifies as a controlled company under Nasdaq rules and is exempt from several governance requirements, leaving public holders with a float in the single-digit millions of shares, wide spreads, air pockets on any size order, and effectively no influence over outcomes. Customer concentration is just as tight: the top three customers each accounted for between 12% and 16% of revenue and together produced roughly 43% of fiscal 2025 revenue (about $23.8M), while Capital Maritime alone supplied 25 of the 49 managed vessels and roughly 37% of pool revenue and is owned by the father of the indirect owner of Maistros Shipinvest, so the largest counterparty and the control block are family-connected rather than arm's length. Dilution risk is live even though the draw has been small: the June 2025 $20M purchase agreement with B. Riley Principal Capital II lets the company sell shares at its discretion, and a resale prospectus covers up to 11,080,332 shares, which near a dollar would be meaningfully dilutive against a 59 million share count. The stock received a Nasdaq minimum bid price deficiency notice on April 24, 2026 and regained compliance on June 2, 2026 without a reverse split, but it has traded between roughly $0.73 and $1.71 over the past year and could revisit that threshold if the freight cycle turns. There has also been no permanent chief financial officer since Niki Fotiou departed on May 31, 2026, with the chief executive overseeing finance during the search, an added reporting-quality risk at a company carrying only about $14.2M of shareholders' equity whose profitability depends on a spot market that fell 43% to 55% on key VLCC routes between November 2025 and January 2026. TNK: Teekay Tankers is deeply cyclical, and its spot exposure means earnings can fall as fast as they rose if charter rates normalize or decline. Tanker rates are driven by factors largely outside the company's control, including global oil demand, OPEC production decisions, refinery patterns, and geopolitical events that reroute cargoes. A wave of newbuilding deliveries, weaker oil demand, or an easing of trade dislocations could compress rates and profits sharply. The stock is also controlled by the broader Teekay group, which limits minority shareholder influence, and the variable dividend means income is not dependable across the cycle.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell HMR or TNK; figures are approximate and dated (as of August 2026). Verify current data before investing.