NYSE : HSHP
Himalaya Shipping Ltd. — Financial statements
Industrials · Marine Shipping · Bermuda
Last price 16.24 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 773.93M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Himalaya Shipping Ltd. (HSHP) reported revenue of 167.30M 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 | 167.30M | 131.90M | 123.60M | 36.70M | ||
| Cost of Revenue | 30.80M | 29.60M | 25.40M | 9.20M | ||
| Gross Profit | 136.50M | 102.30M | 98.20M | 27.50M | ||
| Selling, General & Admin | 5.40M | 4.90M | 5.00M | 3.80M | 1.97M | 1.39M |
| Operating Expenses | 34.60M | 34.10M | 31.50M | 12.90M | 1.97M | 1.39M |
| Operating Income | 101.90M | 68.20M | 66.70M | 14.60M | -1.97M | -1.39M |
| Interest Expense | -50.30M | -51.40M | -46.60M | -13.60M | ||
| Interest & Investment Income | 1.10M | 1.00M | 1.00M | 800.00K | 38.00K | |
| Other Non Operating Income (Expenses) | -100.00K | -100.00K | -300.00K | -20.00K | ||
| Pretax Income | 52.60M | 17.70M | 21.10M | 1.50M | -1.95M | -1.39M |
| Net Income | 52.60M | 17.70M | 21.10M | 1.50M | -1.95M | -1.39M |
| Net Income to Common | 52.60M | 17.70M | 21.10M | 1.50M | -1.95M | -1.39M |
| Shares Outstanding (Basic) | 46.71M | 45.98M | 43.90M | 38.64M | 32.15M | 18.32M |
| Shares Outstanding (Diluted) | 46.93M | 46.02M | 43.91M | 38.64M | 32.15M | 18.32M |
| EPS (Basic) | 1.13 | 0.38 | 0.48 | 0.04 | -0.06 | -0.08 |
| EPS (Diluted) | 1.12 | 0.38 | 0.48 | 0.04 | -0.06 | -0.08 |
| Free Cash Flow | 87.10M | 51.70M | -257.20M | -406.60M | -79.64M | -92.42M |
| Free Cash Flow Per Share | 1.86 | 1.12 | -5.86 | -10.52 | -2.48 | -5.05 |
| Gross Margin | 81.59% | 77.56% | 79.45% | 74.93% | ||
| Operating Margin | 60.91% | 51.71% | 53.96% | 39.78% | ||
| Profit Margin | 31.44% | 13.42% | 17.07% | 4.09% | ||
| Free Cash Flow Margin | 52.06% | 39.20% | -208.09% | -1,107.90% | ||
| EBITDA | 131.10M | 97.40M | 93.20M | 23.70M | ||
| EBITDA Margin | 78.36% | 73.84% | 75.41% | 64.58% | ||
| D&A For EBITDA | 29.20M | 29.20M | 26.50M | 9.10M | ||
| EBIT | 101.90M | 68.20M | 66.70M | 14.60M | -1.97M | -1.39M |
| EBIT Margin | 60.91% | 51.71% | 53.96% | 39.78% | ||
| Revenue as Reported | 167.30M | 131.90M | 123.60M | 36.70M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 34.80M | 32.40M | 19.40M | 25.55M | 263.00K | 11.30M |
| Cash & Short-Term Investments | 34.80M | 32.40M | 19.40M | 25.55M | 263.00K | 11.30M |
| Receivables | 2.30M | 700.00K | 1.20M | 811.00K | ||
| Inventory | 1.90M | 1.70M | 1.50M | 634.00K | ||
| Prepaid Expenses | 1.50M | 1.40M | 1.30M | 997.00K | 123.00K | |
| Other Current Assets | 3.60M | 3.50M | 3.40M | 4.81M | 1.28M | |
| Total Current Assets | 44.10M | 39.70M | 26.80M | 32.81M | 1.67M | 11.30M |
| Property, Plant & Equipment | 809.20M | 823.80M | 853.00M | 561.26M | 176.15M | 83.50M |
| Long-Term Investments | 400.00K | 300.00K | ||||
| Other Long-Term Assets | 5.14M | 400.00K | ||||
| Total Assets | 853.80M | 863.90M | 880.10M | 599.21M | 177.81M | 95.20M |
| Accounts Payable | 1.80M | 1.30M | 800.00K | 1.69M | 14.89M | 800.00K |
| Accrued Expenses | 7.30M | 6.40M | 7.20M | 2.53M | 3.90M | |
| Current Portion of Long-Term Debt | 19.80M | 7.00M | ||||
| Current Portion of Leases | 24.10M | 23.60M | 24.30M | |||
| Current Unearned Revenue | 3.90M | 4.80M | 3.20M | |||
| Other Current Liabilities | 100.00K | 500.00K | 300.00K | 1.28M | 261.00K | |
| Total Current Liabilities | 37.20M | 36.60M | 35.80M | 25.30M | 26.05M | 800.00K |
| Long-Term Debt | 419.70M | 61.44M | ||||
| Long-Term Leases | 653.40M | 665.60M | 689.60M | |||
| Other Long-Term Liabilities | 2.50M | |||||
| Total Liabilities | 690.60M | 702.20M | 725.40M | 445.00M | 87.49M | 3.30M |
| Common Stock | 47.20M | 46.70M | 43.90M | 43.90M | 32.15M | 32.20M |
| Additional Paid-In Capital | 48.70M | 77.70M | 91.20M | 111.79M | 61.17M | 60.70M |
| Retained Earnings | 66.90M | 37.30M | 19.60M | -1.48M | -3.00M | -1.00M |
| Shareholders' Equity | 163.20M | 161.70M | 154.70M | 154.21M | 90.33M | 91.90M |
| Total Liabilities & Equity | 853.80M | 863.90M | 880.10M | 599.21M | 177.81M | 95.20M |
| Total Debt | 677.50M | 689.20M | 713.90M | 439.50M | 68.44M | |
| Net Cash (Debt) | -642.70M | -656.80M | -694.50M | -413.94M | -68.18M | 11.30M |
| Net Cash Per Share | -13.69 | -14.27 | -15.82 | -10.71 | -2.12 | 0.62 |
| Filing Date Shares Outstanding | 47.15M | 46.75M | 46.55M | 43.90M | 32.15M | 32.15M |
| Total Common Shares Outstanding | 47.15M | 46.65M | 43.90M | 43.90M | 32.15M | 32.15M |
| Working Capital | 6.90M | 3.10M | -9.00M | 7.51M | -24.38M | 10.50M |
| Book Value Per Share | 3.45 | 3.47 | 3.52 | 3.51 | 2.81 | 2.86 |
| Tangible Book Value | 162.30M | 161.70M | 154.70M | 154.21M | 90.33M | 91.90M |
| Tangible Book Value Per Share | 3.44 | 3.47 | 3.52 | 3.51 | 2.81 | 2.86 |
| Buildings | 132.65M | 176.15M | 83.50M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 52.60M | 17.70M | 21.10M | 1.50M | -1.95M | -1.39M |
| Depreciation & Amortization | 29.20M | 29.20M | 26.50M | 9.10M | ||
| Other Amortization | 2.70M | 2.70M | 2.40M | 1.40M | ||
| Stock-Based Compensation | 200.00K | 200.00K | 500.00K | 500.00K | 401.00K | |
| Change in Accounts Receivable | 400.00K | 500.00K | -500.00K | -800.00K | ||
| Change in Accounts Payable | -400.00K | 500.00K | -900.00K | 500.00K | 444.00K | 578.67K |
| Change in Unearned Revenue | 1.00M | 1.80M | 2.20M | 1.00M | ||
| Change in Other Net Operating Assets | 1.40M | -900.00K | 4.60M | -6.80M | -338.00K | 125.33K |
| Operating Cash Flow | 87.10M | 51.70M | 55.90M | 6.40M | -1.45M | -688.00K |
| Capital Expenditures | -313.10M | -413.00M | -78.20M | -91.73M | ||
| Investment in Securities | -300.00K | |||||
| Investing Cash Flow | -313.40M | -413.00M | -78.20M | -91.73M | ||
| Short-Term Debt Issued | 6.00M | |||||
| Long-Term Debt Issued | 295.50M | 392.40M | 70.83M | |||
| Total Debt Issued | 6.00M | 295.50M | 392.40M | 70.83M | ||
| Long-Term Debt Repaid | -33.30M | -21.20M | -18.80M | |||
| Net Debt Issued (Repaid) | -26.30M | -27.30M | 274.30M | 373.60M | 70.83M | |
| Issuance of Common Stock | 4.00M | 15.50M | 62.20M | 107.47M | ||
| Common Dividends Paid | -54.70M | -26.90M | -20.60M | |||
| Other Financing Activities | -2.30M | -4.00M | -2.20M | |||
| Financing Cash Flow | -77.00M | -38.70M | 251.40M | 431.80M | 68.62M | 107.47M |
| Net Cash Flow | 10.10M | 13.00M | -6.10M | 25.20M | -11.02M | 15.05M |
| Free Cash Flow | 87.10M | 51.70M | -257.20M | -406.60M | -79.64M | -92.42M |
| Free Cash Flow Margin | 52.06% | 39.20% | -208.09% | -1,107.90% | ||
| Free Cash Flow Per Share | 1.86 | 1.12 | -5.86 | -10.52 | -2.48 | -5.05 |
| Levered Free Cash Flow | 65.25M | 44.20M | -265.29M | -420.76M | -62.19M | |
| Unlevered Free Cash Flow | 93.99M | 73.62M | -238.56M | -413.67M | -62.19M | |
| Cash Interest Paid | 46.90M | 49.50M | 40.30M | 13.00M | ||
| Change in Working Capital | 2.40M | 1.90M | 5.40M | -6.10M | 106.00K | 704.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 710.94M | 425.28M | 212.14M | 294.39M | 162.85M | 184.05M |
| Enterprise Value | 1.40B | 1.09B | 859.29M | 724.60M | 187.52M | 180.59M |
| Last Close Price | 16.24 | 8.13 | 4.02 | 5.25 | 3.83 | |
| PE Ratio | 12.81 | 24.03 | 10.05 | 196.26 | ||
| PS Ratio | 4.50 | 3.22 | 1.72 | 8.02 | ||
| PB Ratio | 4.61 | 2.63 | 1.37 | 1.91 | 1.80 | 2.00 |
| P/TBV Ratio | 4.64 | 2.63 | 1.37 | 1.91 | 1.80 | 2.00 |
| P/FCF Ratio | 8.64 | 8.23 | ||||
| P/OCF Ratio | 8.64 | 8.23 | 3.79 | 46.00 | ||
| EV/Sales Ratio | 8.64 | 8.25 | 6.95 | 19.74 | ||
| EV/EBITDA Ratio | 11.02 | 11.17 | 9.22 | 30.57 | ||
| EV/EBIT Ratio | 14.18 | 15.96 | 12.88 | 49.63 | ||
| EV/FCF Ratio | 16.59 | 21.05 | ||||
| Debt / Equity Ratio | 4.15 | 4.26 | 4.62 | 2.85 | 0.76 | |
| Debt / EBITDA Ratio | 5.17 | 7.08 | 7.66 | 18.54 | ||
| Debt / FCF Ratio | 7.78 | 13.33 | ||||
| Net Debt / Equity Ratio | 3.94 | 4.06 | 4.49 | 2.68 | 0.76 | -0.12 |
| Net Debt / EBITDA Ratio | 4.90 | 6.74 | 7.45 | 17.47 | ||
| Net Debt / FCF Ratio | 7.38 | 12.70 | -2.70 | -1.02 | -0.86 | 0.12 |
| Asset Turnover | 0.19 | 0.15 | 0.17 | 0.09 | ||
| Inventory Turnover | 17.60 | 18.50 | 23.80 | |||
| Quick Ratio | 1.00 | 0.90 | 0.57 | 1.04 | 0.01 | 14.12 |
| Current Ratio | 1.19 | 1.08 | 0.75 | 1.30 | 0.06 | 14.12 |
| Return on Equity (ROE) | 32.62% | 11.19% | 13.66% | 1.23% | -2.14% | |
| Return on Assets (ROA) | 7.38% | 4.89% | 5.64% | 2.35% | -0.90% | |
| Return on Capital Employed (ROCE) | 12.50% | 8.20% | 7.90% | 2.50% | -1.30% | -1.50% |
| Earnings Yield | 7.81% | 4.16% | 9.95% | 0.51% | -1.20% | -0.76% |
| FCF Yield | 11.58% | 12.16% | -121.24% | -138.12% | -48.91% | -50.22% |
| Payout Ratio | 151.20% | 151.98% | 97.63% | |||
| Buyback Yield / Dilution | -5.11% | -4.80% | -13.62% | -20.19% | -75.54% |