SHIP
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | 3.28 | 65.25 | 5.11 | 3.40 |
| Price to Sales | 0.82 | 1.31 | 0.69 | 0.92 |
| Book Value Per Common Share | 12.87 | 11.63 | 12.19 | 14.13 |
| Price to Book | 0.54 | 0.67 | 0.41 | 0.65 |
| Price to Operating Cash Flow | 1.82 | 4.60 | 2.32 | 1.74 |
| Price to Free Cash Flow | 148.19 | 4.67 | -2.61 | -1.21 |
| Enterprise Value to EBITDA | 16148.51 | 34006.50 | 17033.96 | 22917.05 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | 13.54 | 45.07 | -18.82 | 21.72 | 20.36 |
| Price to Sales | 3.60 | 3.43 | 5.33 | 3.38 | 5.50 |
| Book Value Per Common Share | 12.85 | 12.33 | 12.19 | 12.87 | 12.74 |
| Price to Book | 0.64 | 0.51 | 0.53 | 0.54 | 0.97 |
| Price to Operating Cash Flow | 17.67 | 12.11 | 22.91 | 7.10 | 11.96 |
| Price to Free Cash Flow | 16.11 | 14.35 | -4.60 | -10.66 | 13.66 |
| Enterprise Value to EBITDA | 95221.92 | 154312.96 | 138062.05 | 142661.19 |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | 1666.67 | -87.63 | -64.07 | |
| Revenue YoY | 51.91 | -11.83 | -18.35 | |
| EBITDA YoY | 93.95 | -14.57 | -23.66 | |
| Net Profit YoY | 1797.01 | -86.92 | -59.11 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Earning YoY | 335.71 | -47.54 | |||
| Revenue YoY | 25.38 | 54.83 | -41.92 | -6.04 | |
| EBITDA YoY | 114.27 | -42.84 | |||
| Net Profit YoY | 345.56 | -59.28 |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 1.11 | 1.05 | 1.49 | 2.80 |
| Quick Ratio | 0.48 | 0.30 | 0.29 | |
| Current Ratio | 0.74 | 0.36 | 0.65 | 0.54 |
| Debt to Equity | 1.08 | 1.09 | 1.32 | 0.99 |
| Long-Term Debt to Equity | 0.85 | 0.79 | 0.89 | 0.63 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 1.80 | 1.25 | 1.53 | 1.08 | 2.10 |
| Quick Ratio | 0.48 | ||||
| Current Ratio | 0.74 | ||||
| Debt to Equity | 1.16 | 1.32 | 1.37 | 1.08 | 1.01 |
| Long-Term Debt to Equity | 1.16 | 1.32 | 1.37 | 0.85 | 1.01 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | 7.68 | 0.46 | 3.29 | 8.49 |
| ROE | 16.00 | 0.97 | 7.63 | 16.91 |
| Gross Margin | 54.75 | 36.69 | 43.00 | 54.31 |
| Operating Margin | 37.15 | 18.64 | 23.61 | 34.08 |
| EBITDA Margin | 52.37 | 41.02 | 42.34 | 45.28 |
| Net Profit Margin | 25.05 | 2.01 | 13.52 | 27.01 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | 2.18 | 0.48 | -1.14 | 0.94 | 2.38 |
| ROE | 4.70 | 1.11 | -2.69 | 1.95 | 4.78 |
| Gross Margin | 44.53 | 36.00 | 10.83 | 56.76 | 55.30 |
| Operating Margin | 38.98 | 22.81 | -6.55 | 24.61 | 40.46 |
| EBITDA Margin | 38.98 | 22.81 | -6.55 | 24.61 | 40.46 |
| Net Profit Margin | 27.14 | 7.64 | -28.35 | 12.26 | 28.28 |
Dividends
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Dividend Yield | 0.00 | 0.00 | 0.00 | |
| Dividend Payout Ratio | 25.63 | 272.77 | 106.02 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Dividend Yield | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend Payout Ratio | 8.19 | 73.06 | -77.18 | 100.80 | 24.77 |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 545,853.00 | 477,877.00 | 513,600.00 | 487,211.00 |
| Current Assets | 45,898.00 | 25,085.00 | 61,644.00 | 47,176.00 |
| Cash and Short-Term Investments | 21,866.00 | 19,378.00 | 26,027.00 | 42,996.00 |
| Cash and Cash Equivalents | 21,866.00 | 19,378.00 | 26,027.00 | 41,496.00 |
| Short-Term Investments | 0 | 0 | 0 | 1,500.00 |
| Net Receivables | 7,675.00 | 1,204.00 | 1,549.00 | 0 |
| Inventory | 1,693.00 | 1,559.00 | 1,995.00 | 1,448.00 |
| Other Current Assets | 14,664.00 | 2,944.00 | 32,073.00 | 2,732.00 |
| Non-Current Assets | 499,955.00 | 452,792.00 | 451,956.00 | 440,035.00 |
| Property, Plant, Equipment Net | 488,741.00 | 440,866.00 | 435,044.00 | 427,117.00 |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 |
| Non-Current Deferred Assets | 6,127.00 | 6,397.00 | 10,759.00 | 8,613.00 |
| Other Non-Current Assets | 5,087.00 | 5,529.00 | 6,153.00 | 4,305.00 |
| Liabilities | 283,674.00 | 249,432.00 | 291,901.00 | 242,735.00 |
| Current Liabilities | 61,623.00 | 69,515.00 | 94,650.00 | 88,033.00 |
| Payables and Expenses | 22,035.00 | 13,716.00 | 20,748.00 | 10,935.00 |
| Account Payables | 7,112.00 | 5,489.00 | 7,826.00 | 5,762.00 |
| Current Accrued Liabilities | 9,626.00 | 7,736.00 | 8,374.00 | 5,173.00 |
| Short-Term Debt | 37,494.00 | 53,663.00 | 58,982.00 | 69,363.00 |
| Other Current Liabilities | 2,094.00 | 2,136.00 | 14,920.00 | 7,735.00 |
| Non-Current Liabilities | 222,051.00 | 179,917.00 | 197,251.00 | 154,702.00 |
| Long-Term Debt | 220,375.00 | 179,310.00 | 197,216.00 | 154,034.00 |
| Other Non-Current Liabilities | 1,676.00 | 607.00 | 35.00 | 668.00 |
| Equity | 262,179.00 | 228,445.00 | 221,699.00 | 244,476.00 |
| Shareholders Equity | 262,179.00 | 228,445.00 | 221,699.00 | 244,476.00 |
| Capital Stock | 2.00 | 2.00 | 2.00 | 2.00 |
| Share Premium | 595,947.00 | 590,129.00 | 583,691.00 | 597,723.00 |
| Retained Earnings | -333,770.00 | -361,686.00 | -361,994.00 | -353,249.00 |
| Treasury Shares | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| Debt | 257,869.00 | 232,973.00 | 256,198.00 | 223,397.00 |
| Net Debt | 235,721.00 | 191,412.00 | 229,672.00 | 181,251.00 |
| Common Shares Outstanding | 20,374.17 | 19,636.35 | 18,191.61 | 17,298.61 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 167,459.00 | 110,234.00 | 125,020.00 | 153,108.00 |
| Cost Of Revenue | 75,775.00 | 69,787.00 | 71,260.00 | 69,952.00 |
| Interest Income | 2,096.00 | 2,443.00 | 1,361.00 | 161.00 |
| Interest Expense | 18,736.00 | 18,261.00 | 12,303.00 | 10,833.00 |
| Non-Interest Expense | 23,971.00 | 22,149.00 | 17,412.00 | 13,739.00 |
| Gross Profit | 91,684.00 | 40,447.00 | 53,760.00 | 83,156.00 |
| Operating Expenses | 28,933.00 | 27,004.00 | 23,660.00 | 17,967.00 |
| Selling, General and Administrative Expenses | 23,971.00 | 22,149.00 | 17,412.00 | 13,739.00 |
| Other Operating Expenses | 4,962.00 | 4,855.00 | 6,248.00 | 4,228.00 |
| Operating Income | 62,751.00 | 13,443.00 | 30,100.00 | 65,189.00 |
| Net Non-Operating Income | 0 | 0 | 0 | -2,793.00 |
| EBT | 43,472.00 | 2,282.00 | 17,211.00 | 41,348.00 |
| Income Tax | 0 | 0 | -28.00 | 0 |
| Net Income Including Non-Controlling Interests | 43,472.00 | 2,282.00 | 17,239.00 | 41,348.00 |
| Net Income | 41,943.00 | 2,211.00 | 16,907.00 | 41,348.00 |
| EBIT | 62,208.00 | 20,543.00 | 29,514.00 | 52,181.00 |
| Deprecation and Amortization | 25,493.00 | 24,676.00 | 23,417.00 | 17,151.00 |
| EBITDA | 87,701.00 | 45,219.00 | 52,931.00 | 69,332.00 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 19,745.38 | 18,394.42 | 17,493.03 | 15,332.19 |
| Average Shares Outstanding Diluted | 19,879.88 | 18,442.69 | 17,684.05 | 19,133.75 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | 75,278.00 | 31,323.00 | 37,286.00 | 80,760.00 |
| Operating Net Income | 43,472.00 | 2,282.00 | 17,239.00 | 41,348.00 |
| Deprecation and Amortization | 25,493.00 | 24,676.00 | 23,417.00 | 17,151.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 |
| Share Based Compensation | 4,987.00 | 9,147.00 | 7,185.00 | 5,097.00 |
| Change in Working Capital | -5,255.00 | -3,624.00 | -16,785.00 | 1,659.00 |
| Other Operating Activities | 6,581.00 | -1,158.00 | 6,230.00 | 15,505.00 |
| Investing Cash Flow | -79,372.00 | 17,745.00 | -56,263.00 | -184,620.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -74,351.00 | 23,420.00 | -70,451.00 | -184,720.00 |
| Net Purchase/Sale of Investments Net | 0 | 0 | 1,500.00 | 100.00 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 |
| Other Investing Activities | -5,021.00 | -5,675.00 | 12,688.00 | 0.00 |
| Financing Cash Flow | 14,082.00 | -56,617.00 | 5,828.00 | 127,435.00 |
| Net Issuance/Repayment of Debt | 25,963.00 | -46,766.00 | 25,102.00 | 34,312.00 |
| Net Issuance/Repurchase of Equity | 0 | -1,694.00 | 70.00 | 96,844.00 |
| Dividends Paid | -10,750.00 | -6,031.00 | -17,924.00 | 0 |
| Other Financing Activities | 0 | -2,126.00 | -1,420.00 | -3,721.00 |
| Net Change in Cash | 9,988.00 | -7,549.00 | -13,149.00 | 23,575.00 |
| Cash at Beginning of Period | 24,928.00 | 32,477.00 | 45,626.00 | 22,051.00 |
| Cash at End of Period | 34,916.00 | 24,928.00 | 32,477.00 | 45,626.00 |
| Free Cash Flow | 927.00 | 30,833.00 | -33,165.00 | -116,560.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Assets | 586,191.00 | 597,565.00 | 603,482.00 | 545,853.00 | 527,585.00 |
| Current Assets | 36,812.00 | 25,394.00 | 30,900.00 | 45,898.00 | 41,285.00 |
| Cash and Short-Term Investments | 36,812.00 | 25,394.00 | 30,900.00 | 21,866.00 | 41,285.00 |
| Cash and Cash Equivalents | 36,812.00 | 25,394.00 | 30,900.00 | 21,866.00 | 41,285.00 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 0 | 0 | 0 | 7,675.00 | 0 |
| Inventory | 0 | 0 | 0 | 1,693.00 | 0 |
| Other Current Assets | 0 | 0 | 0 | 14,664.00 | 0 |
| Non-Current Assets | 549,379.00 | 572,171.00 | 572,582.00 | 499,955.00 | 486,300.00 |
| Property, Plant, Equipment Net | 513,727.00 | 539,853.00 | 546,883.00 | 488,741.00 | 462,948.00 |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Non-Current Deferred Assets | 0 | 0 | 0 | 6,127.00 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 5,087.00 | 0 |
| Liabilities | 314,882.00 | 339,823.00 | 348,694.00 | 283,674.00 | 265,013.00 |
| Current Liabilities | 0 | 0 | 0 | 61,623.00 | 0 |
| Payables and Expenses | 0 | 0 | 0 | 22,035.00 | 0 |
| Account Payables | 0 | 0 | 0 | 7,112.00 | 0 |
| Current Accrued Liabilities | 0 | 0 | 0 | 9,626.00 | 0 |
| Short-Term Debt | 0 | 0 | 0 | 37,494.00 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 2,094.00 | 0 |
| Non-Current Liabilities | 314,882.00 | 339,823.00 | 348,694.00 | 222,051.00 | 265,013.00 |
| Long-Term Debt | 287,464.00 | 307,676.00 | 318,728.00 | 220,375.00 | 238,076.00 |
| Other Non-Current Liabilities | 27,418.00 | 32,147.00 | 29,966.00 | 1,676.00 | 26,937.00 |
| Equity | 271,309.00 | 257,742.00 | 254,788.00 | 262,179.00 | 262,572.00 |
| Shareholders Equity | 271,309.00 | 257,742.00 | 254,788.00 | 262,179.00 | 262,572.00 |
| Capital Stock | 0 | 0 | 0 | 2.00 | 0 |
| Share Premium | 0 | 0 | 0 | 595,947.00 | 0 |
| Retained Earnings | 0 | 0 | 0 | -333,770.00 | 0 |
| Treasury Shares | 0 | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Debt | 287,464.00 | 307,676.00 | 318,728.00 | 257,869.00 | 238,076.00 |
| Net Debt | 250,652.00 | 282,282.00 | 287,828.00 | 235,721.00 | 196,791.00 |
| Common Shares Outstanding | 21,114.10 | 20,902.37 | 20,902.37 | 20,374.17 | 20,611.92 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenues | 46,992.00 | 37,479.00 | 24,206.00 | 41,677.00 | 44,356.00 |
| Cost Of Revenue | 26,065.00 | 23,985.00 | 21,585.00 | 18,023.00 | 19,827.00 |
| Interest Income | 193.00 | 220.00 | 165.00 | 1,256.00 | 350.00 |
| Interest Expense | 5,566.00 | 5,687.00 | 5,243.00 | 3,620.00 | 5,400.00 |
| Non-Interest Expense | 4,629.00 | 4,956.00 | 4,056.00 | 8,449.00 | 6,590.00 |
| Gross Profit | 20,927.00 | 13,494.00 | 2,621.00 | 23,654.00 | 24,529.00 |
| Operating Expenses | 4,908.00 | 5,257.00 | 4,307.00 | 12,865.00 | 6,777.00 |
| Selling, General and Administrative Expenses | 4,629.00 | 4,956.00 | 4,056.00 | 8,449.00 | 6,590.00 |
| Other Operating Expenses | 279.00 | 301.00 | 251.00 | 4,416.00 | 187.00 |
| Operating Income | 16,019.00 | 8,237.00 | -1,686.00 | 10,789.00 | 17,752.00 |
| Net Non-Operating Income | -104.00 | 93.00 | -19.00 | 0 | -126.00 |
| EBT | 12,752.00 | 2,862.00 | -6,829.00 | 6,638.00 | 12,546.00 |
| Income Tax | 0 | 0 | 0 | 0 | 0 |
| Net Income Including Non-Controlling Interests | 12,752.00 | 2,862.00 | -6,829.00 | 6,638.00 | 12,546.00 |
| Net Income | 12,752.00 | 2,862.00 | -6,863.00 | 5,109.00 | 12,546.00 |
| EBIT | 18,318.00 | 8,549.00 | -1,586.00 | 10,258.00 | 17,946.00 |
| EBITDA | 18,318.00 | 8,549.00 | -1,586.00 | 10,258.00 | 17,946.00 |
| EPS | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 20,493.23 | 20,355.47 | 20,156.64 | 20,272.38 | 19,637.29 |
| Average Shares Outstanding Diluted | 20,562.62 | 20,444.09 | 20,156.64 | 20,409.27 | 19,786.89 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Operating Cash Flow | 9,580.00 | 10,607.00 | 5,632.00 | 19,844.00 | 20,386.00 |
| Operating Net Income | 0 | 0 | 0 | 0 | 0 |
| Deprecation and Amortization | 0 | 0 | 0 | 0 | 0 |
| Deferred Income Tax | 0 | 0 | 0 | 0 | 0 |
| Share Based Compensation | 0 | 0 | 0 | 0 | 0 |
| Change in Working Capital | 0 | 0 | 0 | 0 | 0 |
| Other Operating Activities | 9,580.00 | 10,607.00 | 5,632.00 | 19,844.00 | 20,386.00 |
| Investing Cash Flow | 22,514.00 | -1,923.00 | -41,740.00 | -37,776.00 | -2,528.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | 924.00 | -1,659.00 | -33,666.00 | -33,060.00 | -2,528.00 |
| Net Purchase/Sale of Investments Net | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 21,590.00 | -264.00 | -8,074.00 | -4,716.00 | 0.00 |
| Financing Cash Flow | -20,676.00 | -14,190.00 | 32,092.00 | 11,563.00 | -14,797.00 |
| Net Issuance/Repayment of Debt | -19,994.00 | -11,421.00 | 38,108.00 | 19,148.00 | -9,809.00 |
| Net Issuance/Repurchase of Equity | 845.00 | 0 | 0 | -2,141.00 | -987.00 |
| Dividends Paid | -1,045.00 | -2,091.00 | -5,297.00 | -5,150.00 | -3,108.00 |
| Other Financing Activities | -482.00 | -678.00 | -719.00 | -294.00 | -893.00 |
| Net Change in Cash | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning of Period | 0 | 0 | 0 | 0 | 0 |
| Cash at End of Period | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 10,504.00 | 8,948.00 | -28,034.00 | -13,216.00 | 17,858.00 |