OceanPal Inc.(OP)Earnings, Financials & Key Ratios
OP•NASDAQ
$8.27
$2M mkt cap·Price updated May 7, 2026
AboutOceanPal Inc. focuses on the provision of ocean-going transportation services. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains, as well as minor bulks comprising bauxite, phosphate, and fertilizers. As of November 29, 2021, its fleet consisted of 3 dry bulk vessels, which include 2 Panamax and 1 Capesize vessels. The company is based in Athens, Greece.Show more
- Revenue$26M+35.6%
- EBITDA-$11M-20759.6%
- Net Income-$18M-803.5%
- EPS (Diluted)-2.64+31.1%
- Gross Margin8.98%-69.3%
- EBITDA Margin-42.2%-15285.7%
- Operating Margin-70.21%-72.4%
- Net Margin-69.5%-566.4%
- ROE-20.19%-763.6%
- ROIC-17.47%-119.9%
- Interest Coverage-162.87-13762.4%
OP Key Insights
OceanPal Inc. (OP) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y sales CAGR of 15.7%
- ✓Trading at only 0.0x book value
✗Weaknesses
- ✗Profits declining 57.2% over 5 years
- ✗Weak Piotroski F-Score: 2/9
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 7 (bottom 7%)
- ✗Low quality earnings: Net income not backed by cash flow
- ✗Shares diluted 100.0% in last year
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
OP Price & Volume
OceanPal Inc. (OP) stock price & volume — 10-year historical chart
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OP Growth Metrics
OceanPal Inc. (OP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years15.75%
3 Years168.08%
TTM-12.05%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-46.39%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-1324.83%
Return on Capital
10 Years-7.65%
5 Years-8.11%
3 Years-10.02%
Last Year-20.4%
OP Peer Comparison
OceanPal Inc. (OP) competitors in Dry Bulk Shipping — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 SBLK | 3.09B | 26.81 | 36.73 | -17.62% | 8.07% | 3.44% | 0.44 | |
 GNK | 1.1B | 25.21 | -252.10 | -19.14% | 8.12% | 4.19% | 0.22 | |
 NMM | 2.07B | 71.57 | 5.97 | 2.08% | 19.95% | 8.09% | 0.46 | |
 SB | 730.18M | 6.94 | 8.36 | 8.17% | 16.78% | 5.58% | 0.65 | |
 DSX | 336.8M | 2.69 | 45.75 | -12.93% | 11.18% | 4.89% | 1.26 | |
 PSHG | 70.96M | 1.81 | 1.69 | -19.73% | 65.4% | 16.48% | 0.17 | |
 SHIP | 342.26M | 16.21 | 16.05 | -5.59% | 9.74% | 5.29% | 1.03 | |
 CTRM | 78.27M | 2.02 | 2.32 | -32.07% | -65.41% | -8.02% | 0.18 |
Compare OP vs Peers
OceanPal Inc. (OP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
OP Income Statement
OceanPal Inc. (OP) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 12.37M | 9.41M | 1.33M | 19.09M | 18.96M | 25.7M | 19.43M |
| Revenue Growth % | - | -23.92% | -85.83% | 1330.66% | -0.67% | 35.58% | -12.05% |
| Cost of Goods Sold | 7.13M | 9.48M | 408K | 10.56M | 13.42M | 23.39M | 19.31M |
| COGS % of Revenue | 57.65% | 100.69% | 30.58% | 55.33% | 70.79% | 91.02% | - |
| Gross Profit | 5.24M▲ 0% | -65.1K▼ 101.2% | 926K▲ 1522.4% | 8.53M▲ 820.6% | 5.54M▼ 35.0% | 2.31M▼ 58.3% | 122K▲ 0% |
| Gross Margin % | 42.35% | -0.69% | 69.42% | 44.67% | 29.21% | 8.98% | 0.63% |
| Gross Profit Growth % | - | -101.24% | 1522.45% | 820.63% | -35.04% | -58.32% | - |
| Operating Expenses | 4.62M | 3.73M | 792K | 8.85M | 13.26M | 20.35M | 19.04M |
| OpEx % of Revenue | 37.37% | 39.65% | 59.37% | 46.38% | 69.95% | 79.19% | - |
| Selling, General & Admin | 809.21K | 2.02M | 901.02K | 3.96M | 6.52M | 6.21M | 6.67M |
| SG&A % of Revenue | 6.54% | 21.48% | 67.54% | 20.75% | 34.38% | 24.17% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | 3.81M | 1.71M | -109.02K | 4.89M | 6.74M | 14.14M | 3.31M |
| Operating Income | -1.86M▲ 0% | -3.8M▼ 103.8% | 134K▲ 103.5% | -326K▼ 343.3% | -7.72M▼ 2268.7% | -18.05M▼ 133.7% | -18.92M▲ 0% |
| Operating Margin % | -15.06% | -40.34% | 10.04% | -1.71% | -40.73% | -70.21% | -97.33% |
| Operating Income Growth % | - | -103.76% | 103.53% | -343.28% | -2268.71% | -133.68% | - |
| EBITDA | 1.19M | -1.64M | 488K | 4.57M | -52K | -10.85M | -11.94M |
| EBITDA Margin % | 9.58% | -17.47% | 36.58% | 23.95% | -0.27% | -42.2% | -61.41% |
| EBITDA Growth % | - | -238.73% | 129.68% | 836.48% | -101.14% | -20759.62% | -95.21% |
| D&A (Non-Cash Add-back) | 0 | 2.15M | 354K | 4.9M | 7.67M | 7.2M | 6.98M |
| EBIT | 1.19M | -3.8M | 134K | -326K | -1.07M | -17.75M | -15.46M |
| Net Interest Income | 0 | 0 | 0 | 0 | -405K | 203K | 164K |
| Interest Income | 0 | 0 | 0 | 0 | 504K | 312K | 273K |
| Interest Expense | 0 | 0 | 0 | 0 | 909K | 109K | 109K |
| Other Income/Expense | 0 | 0 | 0 | 0 | 5.75M | 183K | 127K |
| Pretax Income | -1.86M▲ 0% | -3.8M▼ 103.8% | 134K▲ 103.5% | -326K▼ 343.3% | -1.98M▼ 506.4% | -17.86M▼ 803.5% | -18.79M▲ 0% |
| Pretax Margin % | -15.06% | -40.34% | 10.04% | -1.71% | -10.43% | -69.5% | -96.68% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -1.86M▲ 0% | -3.8M▼ 103.8% | 134K▲ 103.5% | -326K▼ 343.3% | -1.98M▼ 506.4% | -17.86M▼ 803.5% | -18.79M▲ 0% |
| Net Margin % | -15.06% | -40.34% | 10.04% | -1.71% | -10.43% | -69.5% | -96.68% |
| Net Income Growth % | - | -103.76% | 103.53% | -343.28% | -506.44% | -803.49% | -46.39% |
| Net Income (Continuing) | -1.86M | -3.8M | 134K | -326K | -1.98M | -17.86M | -18.79M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -42.24▲ 0% | -86.07▼ 103.8% | 1.06▲ 101.2% | -17.18▼ 1720.8% | -3.83▲ 77.7% | -2.64▲ 31.1% | -62.52▲ 0% |
| EPS Growth % | - | -103.76% | 101.23% | -1720.75% | 77.71% | 31.07% | -1324.83% |
| EPS (Basic) | -42.24 | -86.07 | 1.47 | -17.20 | -3.90 | -2.64 | - |
| Diluted Shares Outstanding | 52.92K | 52.92K | 73.65K | 62.26K | 134.89K | 298.61K | 300.53K |
| Basic Shares Outstanding | 52.92K | 52.92K | 52.92K | 62.26K | 132.62K | 298.61K | 263.36K |
| Dividend Payout Ratio | - | - | 1249.8% | - | - | - | - |
OP Balance Sheet
OceanPal Inc. (OP) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 10.41M | 4.24M | 3.2M | 14.17M | 20.04M | 14.11M | 28.93M |
| Cash & Short-Term Investments | 1.92K | 39.64K | 1.67M | 8.45M | 14.84M | 7.16M | 25.77M |
| Cash Only | 1.92K | 39.64K | 1.67M | 8.45M | 14.84M | 7.16M | 25.77M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 309.75K | 2.2M | 881K | 4.26M | 2.96M | 3.06M | 1.8M |
| Days Sales Outstanding | 9.14 | 85.51 | 241.05 | 81.42 | 57.05 | 43.51 | 31.33 |
| Inventory | 168.77K | 181.97K | 186K | 334K | 287K | 1.6M | 170K |
| Days Inventory Outstanding | 8.64 | 7.01 | 166.4 | 11.54 | 7.81 | 24.93 | 9.16 |
| Other Current Assets | 9.22M | 941.49K | 0 | 0 | 1.29M | 2.29M | 46K |
| Total Non-Current Assets | 25.47M | 32.95M | 45.88M | 64.85M | 74.8M | 75.35M | 49.24M |
| Property, Plant & Equipment | 25.46M | 32.25M | 45.73M | 63.67M | 71.1M | 71.26M | 43.08M |
| Fixed Asset Turnover | 0.49x | 0.29x | 0.03x | 0.30x | 0.27x | 0.36x | 0.33x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 1.65M | 2.97M | 11.62M |
| Other Non-Current Assets | 11.01K | 701.77K | 152K | 1.18M | 2.06M | 1.12M | 7.7M |
| Total Assets | 35.89M▲ 0% | 37.19M▲ 3.6% | 49.08M▲ 32.0% | 79.02M▲ 61.0% | 94.84M▲ 20.0% | 89.46M▼ 5.7% | 78.17M▲ 0% |
| Asset Turnover | 0.34x | 0.25x | 0.03x | 0.24x | 0.20x | 0.29x | 0.22x |
| Asset Growth % | - | 3.63% | 31.98% | 61% | 20.03% | -5.68% | -22.15% |
| Total Current Liabilities | 1.02M | 1.89M | 931K | 2.46M | 2.29M | 5.09M | 4.1M |
| Accounts Payable | 180.63K | 133.57K | 263K | 281K | 405K | 1.85M | 1.21M |
| Days Payables Outstanding | 9.25 | 5.14 | 235.28 | 9.71 | 11.02 | 28.91 | 20.17 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 155.88K | 0 | 228K | 374K | 399K | 184K | 1.04M |
| Other Current Liabilities | 238.02K | -115.28K | 0 | 650K | 110K | 0 | 0 |
| Current Ratio | 10.18x | 2.25x | 3.44x | 5.76x | 8.77x | 2.77x | 2.77x |
| Quick Ratio | 10.02x | 2.15x | 3.24x | 5.63x | 8.64x | 2.46x | 2.46x |
| Cash Conversion Cycle | 8.53 | 87.37 | 172.17 | 83.25 | 53.84 | 39.53 | 20.31 |
| Total Non-Current Liabilities | 0 | 133.57K | 0 | 655K | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 1.02M | 1.89M | 931K | 2.46M | 2.29M | 5.09M | 4.1M |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | -1.92K | -39.64K | -1.67M | -8.45M | -14.84M | -7.16M | -25.77M |
| Debt / Equity | - | - | - | - | - | - | 0.00x |
| Debt / EBITDA | - | - | - | - | - | - | -0.00x |
| Net Debt / EBITDA | -0.00x | - | -3.43x | -1.85x | - | - | 2.16x |
| Interest Coverage | - | - | - | - | -1.17x | -162.87x | -141.83x |
| Total Equity | 34.86M▲ 0% | 35.3M▲ 1.3% | 48.15M▲ 36.4% | 76.56M▲ 59.0% | 92.56M▲ 20.9% | 84.37M▼ 8.8% | 74.07M▲ 0% |
| Equity Growth % | - | 1.26% | 36.39% | 59% | 20.9% | -8.85% | -39.86% |
| Book Value per Share | 658.76 | 667.07 | 653.72 | 1229.63 | 686.19 | 282.55 | 246.46 |
| Total Shareholders' Equity | 34.86M | 35.3M | 48.15M | 76.56M | 92.56M | 84.37M | 74.07M |
| Common Stock | 140.04M | 144.27M | 88K | 102K | 74K | 75K | 3K |
| Retained Earnings | -105.18M | -108.97M | 65K | -2.32M | -8.02M | -25.91M | -36.56M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 140.04M | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
OP Cash Flow Statement
OceanPal Inc. (OP) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Cash from Operations | 1.44M | -2.72M | 715K | 1.51M | 815K | -3.53M | -3.53M |
| Operating CF Margin % | 11.64% | -28.94% | 53.6% | 7.93% | 4.3% | -13.73% | - |
| Operating CF Growth % | - | -289.18% | 126.26% | 111.61% | -46.13% | -533.13% | -536.45% |
| Net Income | -1.86M | -3.8M | 134K | -326K | -1.98M | -17.86M | -18.79M |
| Depreciation & Amortization | 2.48M | 2.15M | 354K | 4.9M | 7.67M | 0 | 3.23M |
| Stock-Based Compensation | 0 | 0 | 0 | 568K | 1.89M | 2.78M | 1.39M |
| Deferred Taxes | 0 | 0 | 0 | -4.9M | 0 | 0 | 0 |
| Other Non-Cash Items | 3.05M | -200.5K | 0 | 4.9M | -5.32M | 13.38M | 3.29M |
| Working Capital Changes | -2.23M | -878.69K | 227K | -3.63M | -1.46M | -1.82M | 1.27M |
| Change in Receivables | -302.7K | -725.32K | -46K | -3.44M | 1.29M | -101K | 1.26M |
| Change in Inventory | 392.25K | -13.2K | 23K | -148K | 47K | -1.31M | 1.43M |
| Change in Payables | -160.92K | -47.06K | 263K | 18K | 124K | 1.45M | 0 |
| Cash from Investing | 0 | -1.47M | -42K | -5.09M | -6.01M | -2.52M | 18.51M |
| Capital Expenditures | 0 | -1.47M | -42K | -5.09M | -4.37M | -18.91M | 0 |
| CapEx % of Revenue | - | 15.67% | 3.15% | 26.69% | 23.04% | 73.56% | - |
| Acquisitions | 0 | 0 | 0 | 0 | -1.64M | -1.38M | 17.52M |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 17.77M | 989.21K |
| Cash from Financing | -1.5M | 4.24M | 1M | 10.36M | 11.58M | -1.64M | -2.19M |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 0 | 0 | 16.2M | 15.16M | 0 | 0 |
| Dividends Paid | -1.5M | 0 | -1.67M | -3.1M | -2.09M | -1.64M | -1.19M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 4.24M | 2.67M | -2.73M | -1.49M | 0 | -1M |
| Net Change in Cash | -64.77K▲ 0% | 37.72K▲ 158.2% | 1.63M▲ 4229.9% | 6.78M▲ 315.2% | 6.39M▼ 5.8% | -7.68M▼ 220.3% | -3.64M▲ 0% |
| Free Cash Flow | 1.44M▲ 0% | -4.2M▼ 391.6% | 673K▲ 116.0% | -3.58M▼ 632.1% | -3.55M▲ 0.8% | -22.44M▼ 531.5% | -20.21M▲ 0% |
| FCF Margin % | 11.64% | -44.61% | 50.45% | -18.76% | -18.74% | -87.29% | -103.98% |
| FCF Growth % | - | -391.65% | 116.03% | -632.1% | 0.78% | -531.47% | -563.01% |
| FCF per Share | 27.20 | -79.33 | 9.14 | -57.52 | -26.34 | -75.14 | -75.14 |
| FCF Conversion (FCF/Net Income) | -0.77x | 0.72x | 5.34x | -4.64x | -0.41x | 0.20x | 1.08x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
OP Key Ratios
OceanPal Inc. (OP) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -10.82% | 0.32% | -0.52% | -2.34% | -20.19% | -23.16% |
| Return on Invested Capital (ROIC) | -8.12% | 0.25% | -0.43% | -7.94% | -17.47% | -17.47% |
| Gross Margin | -0.69% | 69.42% | 44.67% | 29.21% | 8.98% | 0.63% |
| Net Margin | -40.34% | 10.04% | -1.71% | -10.43% | -69.5% | -96.68% |
| Debt / Equity | - | - | - | - | - | 0.00x |
| Interest Coverage | - | - | - | -1.17x | -162.87x | -141.83x |
| FCF Conversion | 0.72x | 5.34x | -4.64x | -0.41x | 0.20x | 1.08x |
| Revenue Growth | -23.92% | -85.83% | 1330.66% | -0.67% | 35.58% | -12.05% |
OP Frequently Asked Questions
OceanPal Inc. (OP) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
OceanPal Inc. (OP) reported $19.4M in revenue for fiscal year 2024. This represents a 57% increase from $12.4M in 2019.
OceanPal Inc. (OP) grew revenue by 35.6% over the past year. This is strong growth.
OceanPal Inc. (OP) reported a net loss of $18.8M for fiscal year 2024.
Dividend & Returns
Yes, OceanPal Inc. (OP) pays a dividend with a yield of 66.25%. This makes it attractive for income-focused investors.
OceanPal Inc. (OP) has a return on equity (ROE) of -20.2%. Negative ROE indicates the company is unprofitable.
OceanPal Inc. (OP) had negative free cash flow of $20.2M in fiscal year 2024, likely due to heavy capital investments.
Explore More OP
OceanPal Inc. (OP) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates