NASDAQ : USEA
United Maritime Corporation — Financial statements
Industrials · Marine Shipping · Greece
Last price 2.56 USD (Oct 30, 2026, 2:16 PM EDT) · Market cap 24.42M
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Financial statements
United Maritime Corporation (USEA) reported revenue of 35.49M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 35.49M | 37.78M | 45.44M | 36.07M | 24.86M | 7.40M |
| Cost of Revenue | 18.09M | 23.72M | 25.23M | 23.73M | 11.37M | 2.77M |
| Gross Profit | 17.41M | 14.07M | 20.21M | 12.34M | 13.48M | 4.63M |
| Selling, General & Admin | 7.21M | 6.33M | 6.27M | 7.98M | 6.60M | 955.65K |
| Operating Expenses | 14.22M | 14.15M | 15.99M | 17.06M | 8.68M | 1.71M |
| Operating Income | 3.19M | -86.00K | 4.22M | -4.72M | 4.81M | 2.92M |
| Interest Expense | -5.14M | -6.32M | -8.14M | -7.12M | -2.61M | -722.34K |
| Interest & Investment Income | 277.00K | 218.00K | 314.00K | 430.00K | 14.18K | |
| Earnings From Equity Investments | 474.00K | -86.00K | -142.00K | |||
| Currency Exchange Gain (Loss) | -44.00K | -249.00K | 129.00K | -132.00K | -6.54K | -1.21K |
| Other Non Operating Income (Expenses) | 138.00K | 49.00K | 39.00K | 52.00K | -31.64K | -21.35K |
| EBT Excluding Unusual Items | -1.11M | -6.47M | -3.58M | -11.50M | 2.17M | 2.17M |
| Gain (Loss) on Sale of Assets | 2.08M | 1.77M | 1.43M | 11.80M | 39.38M | |
| Asset Writedown | -2.14M | -2.14M | -828.00K | |||
| Other Unusual Items | -520.00K | 628.00K | -397.00K | -85.00K | -646.91K | |
| Pretax Income | -1.69M | -6.21M | -3.38M | 221.00K | 40.90M | 2.17M |
| Earnings From Continuing Operations | -1.69M | -6.21M | -3.38M | 221.00K | 40.90M | 2.17M |
| Minority Interest in Earnings | -51.00K | 26.00K | ||||
| Net Income | -1.74M | -6.19M | -3.38M | 221.00K | 40.90M | 2.17M |
| Preferred Dividends & Other Adjustments | 95.00K | 2.62M | ||||
| Net Income to Common | -1.74M | -6.19M | -3.38M | 126.00K | 38.28M | 2.17M |
| Shares Outstanding (Basic) | 9.00M | 8.87M | 8.71M | 8.36M | 4.50M | 1.51M |
| Shares Outstanding (Diluted) | 9.00M | 8.87M | 8.71M | 8.36M | 7.30M | 1.51M |
| EPS (Basic) | -0.19 | -0.70 | -0.39 | 0.02 | 8.50 | 1.44 |
| EPS (Diluted) | -0.19 | -0.70 | -0.39 | 0.02 | 5.37 | 1.44 |
| Free Cash Flow | -7.92M | 1.46M | 3.02M | -87.98M | -93.43M | 3.60M |
| Free Cash Flow Per Share | -0.88 | 0.16 | 0.35 | -10.52 | -12.80 | 2.38 |
| Dividend Per Share | 0.39 | 0.23 | 0.23 | 0.30 | ||
| Gross Margin | 49.05% | 37.23% | 44.47% | 34.21% | 54.25% | 62.58% |
| Operating Margin | 8.99% | -0.23% | 9.29% | -13.10% | 19.34% | 39.42% |
| Profit Margin | -4.89% | -16.38% | -7.45% | 0.35% | 153.99% | 29.35% |
| Free Cash Flow Margin | -22.32% | 3.85% | 6.64% | -243.92% | -375.90% | 48.70% |
| EBITDA | 8.27M | 6.29M | 12.20M | 4.35M | 7.06M | 3.67M |
| EBITDA Margin | 23.30% | 16.64% | 26.85% | 12.07% | 28.41% | 49.65% |
| D&A For EBITDA | 5.08M | 6.37M | 7.98M | 9.08M | 2.25M | 756.76K |
| EBIT | 3.19M | -86.00K | 4.22M | -4.72M | 4.81M | 2.92M |
| EBIT Margin | 8.99% | -0.23% | 9.29% | -13.10% | 19.34% | 39.42% |
| Revenue as Reported | 7.40M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 12.09M | 14.16M | 6.41M | 13.80M | 54.73M | 765.48K |
| Cash & Short-Term Investments | 12.09M | 14.16M | 6.41M | 13.80M | 54.73M | 765.48K |
| Receivables | 2.04M | 1.81M | 1.44M | 394.00K | 779.00K | 70.00K |
| Inventory | 526.00K | 363.00K | 650.00K | 664.00K | 107.00K | 99.33K |
| Prepaid Expenses | 555.00K | 413.00K | 601.00K | 546.00K | 989.00K | 59.46K |
| Restricted Cash | 50.00K | 400.00K | ||||
| Other Current Assets | 15.60M | 15.94M | 15.38M | 3.69M | 3.21M | |
| Total Current Assets | 30.86M | 33.09M | 24.48M | 19.09M | 59.81M | 994.27K |
| Property, Plant & Equipment | 128.45M | 85.14M | 138.15M | 152.53M | 37.51M | 12.28M |
| Long-Term Investments | 17.41M | 3.59M | ||||
| Long-Term Deferred Charges | 2.23M | 1.60M | 4.35M | 2.49M | 441.00K | 155.55K |
| Other Long-Term Assets | 1.45M | 1.45M | 1.50M | 700.00K | 27.89M | |
| Total Assets | 162.99M | 138.68M | 172.07M | 174.81M | 125.66M | 13.43M |
| Accounts Payable | 2.29M | 2.40M | 1.82M | 3.31M | 3.02M | 268.43K |
| Accrued Expenses | 10.71M | 13.56M | 9.95M | 8.49M | 6.32M | 309.61K |
| Current Portion of Long-Term Debt | 14.49M | 14.33M | 17.65M | 8.69M | 7.47M | 1.18M |
| Current Portion of Leases | 2.76M | 16.94M | 2.03M | 31.42M | ||
| Current Unearned Revenue | 814.00K | 593.00K | 1.40M | 527.00K | 1.03M | 326.37K |
| Other Current Liabilities | 1.24M | 818.00K | 663.00K | 652.00K | 7.37M | |
| Total Current Liabilities | 32.30M | 48.64M | 33.52M | 53.09M | 25.21M | 2.08M |
| Long-Term Debt | 54.71M | 33.57M | 61.10M | 55.84M | 35.13M | 4.20M |
| Long-Term Leases | 22.27M | 16.94M | ||||
| Other Long-Term Liabilities | 442.00K | 428.00K | 739.00K | 104.55K | ||
| Total Liabilities | 109.72M | 82.22M | 111.98M | 108.94M | 61.09M | 6.39M |
| Common Stock | 1.00K | 1.00K | 1.00K | 1.00K | 1.00K | 7.87M |
| Additional Paid-In Capital | 40.03M | 39.45M | 39.18M | 38.92M | 35.19M | |
| Retained Earnings | 12.49M | 13.45M | 20.91M | 26.95M | 29.37M | -828.30K |
| Comprehensive Income & Other | -65.00K | 7.00K | -4.00K | |||
| Total Common Equity | 52.46M | 52.92M | 60.09M | 65.87M | 64.57M | 7.04M |
| Minority Interest | 809.00K | 3.55M | ||||
| Shareholders' Equity | 53.27M | 56.47M | 60.09M | 65.87M | 64.57M | 7.04M |
| Total Liabilities & Equity | 162.99M | 138.68M | 172.07M | 174.81M | 125.66M | 13.43M |
| Total Debt | 94.22M | 64.84M | 97.72M | 95.95M | 42.61M | 5.38M |
| Net Cash (Debt) | -82.13M | -50.67M | -91.31M | -82.15M | 12.13M | -4.62M |
| Net Cash Per Share | -9.13 | -5.72 | -10.48 | -9.83 | 1.66 | -3.05 |
| Filing Date Shares Outstanding | 9.54M | 9.54M | 9.20M | 9.01M | 8.89M | 1.51M |
| Total Common Shares Outstanding | 9.54M | 9.08M | 8.84M | 8.69M | 8.18M | 1.51M |
| Working Capital | -1.44M | -15.55M | -9.03M | -34.00M | 34.60M | -1.09M |
| Book Value Per Share | 5.50 | 5.83 | 6.79 | 7.58 | 7.89 | 4.66 |
| Tangible Book Value | 52.46M | 52.92M | 60.09M | 65.87M | 64.57M | 7.04M |
| Tangible Book Value Per Share | 5.50 | 5.83 | 6.79 | 7.58 | 7.89 | 4.66 |
| Machinery | 103.28M | 65.03M | 120.54M | 112.38M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -1.74M | -6.19M | -3.38M | 221.00K | 40.90M | 2.17M |
| Depreciation & Amortization | 7.01M | 7.82M | 9.71M | 9.08M | 2.25M | 756.76K |
| Other Amortization | 2.21M | 3.56M | 4.44M | 1.07M | 384.00K | 417.74K |
| Loss (Gain) From Sale of Assets | -1.77M | -1.77M | -1.43M | -11.80M | -39.38M | |
| Asset Writedown & Restructuring Costs | 2.14M | 2.14M | 828.00K | |||
| Loss (Gain) on Equity Investments | 86.00K | 86.00K | 142.00K | |||
| Stock-Based Compensation | 483.00K | 483.00K | 779.00K | 2.52M | 3.04M | |
| Other Operating Activities | 880.00K | -843.00K | 151.00K | 68.00K | 646.91K | |
| Change in Accounts Receivable | 16.00K | 16.00K | -1.19M | 527.00K | -720.00K | -70.00K |
| Change in Inventory | 313.00K | 313.00K | -82.00K | -531.00K | 94.91K | -45.19K |
| Change in Accounts Payable | -1.69M | -1.69M | -1.76M | -1.57M | -3.04M | 133.89K |
| Change in Unearned Revenue | -802.00K | -802.00K | 868.00K | -500.00K | 1.12M | 203.23K |
| Change in Other Net Operating Assets | -914.00K | -914.00K | -5.82M | -5.31M | 3.29M | 90.64K |
| Operating Cash Flow | 6.23M | 2.21M | 3.26M | -6.23M | 8.59M | 3.66M |
| Capital Expenditures | -14.15M | -757.00K | -249.00K | -81.75M | -102.02M | -56.07K |
| Sale of Property, Plant & Equipment | 49.70M | 50.50M | 20.22M | 37.50M | 109.10M | |
| Cash Acquisitions | -4.15M | |||||
| Investment in Securities | 12.82M | -5.16M | -3.73M | |||
| Other Investing Activities | -5.50M | -8.29M | -14.89M | |||
| Investing Cash Flow | 42.87M | 40.43M | 7.95M | -59.14M | 7.08M | -56.07K |
| Short-Term Debt Issued | 2.24M | 4.41M | ||||
| Long-Term Debt Issued | 47.15M | 54.50M | ||||
| Total Debt Issued | 18.30M | 2.24M | 51.56M | 54.50M | 79.64M | |
| Short-Term Debt Repaid | -2.00M | |||||
| Long-Term Debt Repaid | -33.74M | -65.78M | -34.61M | -800.00K | ||
| Total Debt Repaid | -52.92M | -35.74M | -65.78M | -34.61M | -37.91M | -800.00K |
| Net Debt Issued (Repaid) | -34.62M | -33.50M | -14.22M | 19.89M | 41.73M | -800.00K |
| Issuance of Common Stock | 1.88M | 27.24M | ||||
| Repurchase of Common Stock | -221.00K | -204.00K | -469.00K | -673.00K | -6.55M | -2.44M |
| Preferred Dividends Paid | -265.09K | |||||
| Common Dividends Paid | -2.14M | -1.12M | -2.64M | -9.36M | ||
| Dividends Paid | -2.14M | -1.12M | -2.64M | -9.36M | -265.09K | |
| Other Financing Activities | -3.34M | -20.00K | -1.62M | -1.80M | -991.64K | |
| Financing Cash Flow | -40.32M | -34.84M | -18.95M | 9.94M | 60.62M | -3.24M |
| Net Cash Flow | 8.69M | 7.80M | -7.74M | -55.43M | 76.29M | 359.48K |
| Free Cash Flow | -7.92M | 1.46M | 3.02M | -87.98M | -93.43M | 3.60M |
| Free Cash Flow Margin | -22.32% | 3.85% | 6.64% | -243.92% | -375.90% | 48.70% |
| Free Cash Flow Per Share | -0.88 | 0.16 | 0.35 | -10.52 | -12.80 | 2.38 |
| Levered Free Cash Flow | -4.36M | 9.79M | 304.50K | -81.45M | -82.99M | 2.82M |
| Unlevered Free Cash Flow | -1.71M | 13.17M | 4.67M | -77.78M | -81.74M | 3.17M |
| Cash Interest Paid | 4.63M | 5.95M | 7.60M | 6.33M | 1.90M | 642.22K |
| Change in Working Capital | -3.07M | -3.07M | -7.98M | -7.38M | 742.91K | 312.57K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 24.80M | 15.48M | 15.30M | 21.51M | 31.78M | |
| Enterprise Value | 106.93M | 66.24M | 105.00M | 101.51M | 86.84M | |
| Last Close Price | 2.56 | 1.51 | 1.43 | 1.80 | 2.12 | |
| PE Ratio | 170.73 | 0.83 | ||||
| Forward PE | 9.20 | 7.54 | 7.54 | |||
| PS Ratio | 0.69 | 0.41 | 0.34 | 0.60 | 1.28 | |
| PB Ratio | 0.47 | 0.27 | 0.26 | 0.33 | 0.49 | |
| P/TBV Ratio | 0.47 | 0.29 | 0.26 | 0.33 | 0.49 | |
| P/FCF Ratio | 10.64 | 5.08 | ||||
| P/OCF Ratio | 3.92 | 7.00 | 4.69 | 3.70 | ||
| EV/Sales Ratio | 3.00 | 1.75 | 2.31 | 2.81 | 3.49 | |
| EV/EBITDA Ratio | 12.89 | 10.54 | 8.61 | 23.32 | 12.30 | |
| EV/EBIT Ratio | 33.39 | 24.88 | 18.06 | |||
| EV/FCF Ratio | 45.52 | 34.83 | ||||
| Debt / Equity Ratio | 1.77 | 1.15 | 1.63 | 1.46 | 0.66 | 0.76 |
| Debt / EBITDA Ratio | 9.24 | 8.38 | 7.01 | 22.04 | 6.03 | 1.47 |
| Debt / FCF Ratio | 44.56 | 32.41 | 1.49 | |||
| Net Debt / Equity Ratio | 1.54 | 0.90 | 1.52 | 1.25 | -0.19 | 0.66 |
| Net Debt / EBITDA Ratio | 9.93 | 8.06 | 7.48 | 18.87 | -1.72 | 1.26 |
| Net Debt / FCF Ratio | -10.37 | 34.83 | 30.29 | -0.93 | 0.13 | 1.28 |
| Asset Turnover | 0.22 | 0.24 | 0.26 | 0.24 | 0.36 | 0.54 |
| Inventory Turnover | 20.33 | 46.82 | 38.41 | 61.56 | 110.23 | 36.07 |
| Quick Ratio | 0.44 | 0.33 | 0.23 | 0.27 | 2.20 | 0.40 |
| Current Ratio | 0.95 | 0.68 | 0.73 | 0.36 | 2.37 | 0.48 |
| Return on Equity (ROE) | -2.97% | -10.66% | -5.37% | 0.34% | 114.23% | 30.24% |
| Return on Assets (ROA) | 1.23% | -0.03% | 1.52% | -1.97% | 4.32% | 13.31% |
| Return on Capital Employed (ROCE) | 2.40% | -0.10% | 3.00% | -3.90% | 4.80% | 25.70% |
| Earnings Yield | -7.47% | -39.98% | -22.11% | 1.03% | 128.70% | |
| FCF Yield | -32.44% | 9.40% | 19.71% | -408.97% | -294.01% | |
| Dividend Yield | 8.93% | 13.50% | 13.58% | 12.12% | ||
| Payout Ratio | 4,237.10% | 0.65% | ||||
| Buyback Yield / Dilution | -2.74% | -1.77% | -4.22% | -14.52% | -382.77% | |
| Total Shareholder Return | 6.24% | 11.72% | 9.37% | -2.40% | -382.77% |