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Navios Maritime Partners vs TORM: revenue, profit, margins and growth compared

Navios Maritime Partners brought in $1.3B of revenue in fiscal 2025, TORM $1.3B in fiscal 2025. Revenue changed by +0.8% at Navios Maritime Partners and -14.1% at TORM on the year before, so Navios Maritime Partners grew faster. Navios Maritime Partners kept 21.2% of its revenue as net profit, TORM 21.3%. Free cash flow was $281M at Navios Maritime Partners and $190.4M at TORM.

Side by side, latest fiscal year

NMMTRMD
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.3B$1.3B
Revenue growth+0.8%-14.1%
Net income$285.3M$285.3M
Net margin21.2%21.3%
Free cash flow$281M$190.4M
Free cash flow margin20.9%14.2%
Earnings per share (diluted)n/a$2.85
Cash$402.8M$158.1M
Debt$1.1B$1B
Price to earningsn/an/a
Market value$2.7B$3.5B
Dividend yieldn/an/a
Rank by revenue in sector#417 of 778 · Consumer discretionary#418 of 778 · Consumer discretionary

Over the years

Revenue
NMM FY2018: $231.4MNMM FY2019: $219.4MNMM FY2020: $226.8MNMM FY2021: $713.2MNMM FY2022: $1.2BNMM FY2023: $1.3BNMM FY2024: $1.3BNMM FY2025: $1.3BTRMD FY2020: $747.4MTRMD FY2021: $619.5MTRMD FY2022: $1.4BTRMD FY2023: $1.5BTRMD FY2024: $1.6BTRMD FY2025: $1.3BFY18FY19FY20FY21FY22FY23FY24FY25
NMM $1.3BTRMD $1.3B
Net income
NMM FY2018: -$13.1MNMM FY2019: -$62.1MNMM FY2020: -$68.5MNMM FY2021: $516.2MNMM FY2022: $579.2MNMM FY2023: $433.6MNMM FY2024: $367.3MNMM FY2025: $285.3MTRMD FY2018: -$34.8MTRMD FY2019: $166MTRMD FY2020: $88.1MTRMD FY2021: -$42.1MTRMD FY2022: $562.8MTRMD FY2023: $648.3MTRMD FY2024: $612.5MTRMD FY2025: $285.3MFY18FY19FY20FY21FY22FY23FY24FY25
NMM $285.3MTRMD $285.3M
Net margin
NMM FY2018: -5.7%NMM FY2019: -28.3%NMM FY2020: -30.2%NMM FY2021: 72.4%NMM FY2022: 47.9%NMM FY2023: 33.2%NMM FY2024: 27.5%NMM FY2025: 21.2%TRMD FY2020: 11.8%TRMD FY2021: -6.8%TRMD FY2022: 39.0%TRMD FY2023: 42.6%TRMD FY2024: 39.3%TRMD FY2025: 21.3%FY18FY19FY20FY21FY22FY23FY24FY25
NMM 21.2%TRMD 21.3%
Revenue growth
NMM FY2019: -5.2%NMM FY2020: +3.4%NMM FY2021: +214.5%NMM FY2022: +69.7%NMM FY2023: +8.0%NMM FY2024: +2.1%NMM FY2025: +0.8%TRMD FY2021: -17.1%TRMD FY2022: +133.0%TRMD FY2023: +5.3%TRMD FY2024: +2.6%TRMD FY2025: -14.1%FY19FY20FY21FY22FY23FY24FY25
NMM +0.8%TRMD -14.1%
Free cash flow
NMM FY2018: -$47.6MNMM FY2019: $49.2MNMM FY2020: $21.7MNMM FY2021: $60.1MNMM FY2022: $72.6MNMM FY2023: $377.4MNMM FY2024: -$263.5MNMM FY2025: $281MTRMD FY2018: -$131.7MTRMD FY2019: -$213.3MTRMD FY2020: $62.8MTRMD FY2021: -$271.8MTRMD FY2022: $382.7MTRMD FY2023: $295.3MTRMD FY2024: $244.4MTRMD FY2025: $190.4MFY18FY19FY20FY21FY22FY23FY24FY25
NMM $281MTRMD $190.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Navios Maritime Partners and TORM

Which is bigger by revenue, Navios Maritime Partners or TORM?

Navios Maritime Partners is bigger by revenue: $1.3B in fiscal 2025, against $1.3B for TORM in fiscal 2025.

Which keeps more of its revenue as profit, Navios Maritime Partners or TORM?

Navios Maritime Partners had a net margin of 21.2% in fiscal 2025; TORM had 21.3% in fiscal 2025.

Which grew revenue faster, Navios Maritime Partners or TORM?

In their latest fiscal years revenue changed by +0.8% at Navios Maritime Partners and -14.1% at TORM.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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