Ardmore Shipping Corporation (ASC) Revenue History
Annual and quarterly revenue from 2011 to present
ASC Revenue Over Time (2011–2025)
ASC Revenue Growth History
10 of 14 years with positive growth- FY2011 revenue growth
- N/A
- FY2012 revenue growth
- +12.5%
- FY2013 revenue growth
- +42.5%
- FY2014 revenue growth
- +87.7%
- FY2015 revenue growth
- +134.5%
- FY2016 revenue growth
- +4.1%
- FY2017 revenue growth
- +19.2%
- FY2018 revenue growth
- +7.3%
- FY2019 revenue growth
- +9.5%
- FY2020 revenue growth
- -4.3%
- FY2021 revenue growth
- -12.5%
- FY2022 revenue growth
- +131.6%
- FY2023 revenue growth
- -11.2%
- FY2024 revenue growth
- +2.5%
- FY2025 revenue growth
- -23.6%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $87.9M | +18.8% |
| Q4 2025 | $82.9M | +1.1% |
| Q3 2025 | $81.2M | -15.5% |
| Q2 2025 | $72.0M | -40.6% |
| Q1 2025 | $74.0M | -30.4% |
| Q4 2024 | $82.0M | -17.0% |
| Q3 2024 | $96.1M | +10.6% |
| Q2 2024 | $121.3M | +32.0% |
Multi-year avg. share of annual revenue by fiscal quarter
ASC Revenue Analysis (2011–2025)
Current Revenue & Growth
As of June 22, 2026, Ardmore Shipping Corporation (ASC) generated trailing twelve-month (TTM) revenue of $324.1 million, reflecting strong growth of +18.8% year-over-year. The most recent quarter (Q1 2026) recorded $87.9 million in revenue, up 6.0% sequentially.
Historical Growth Trajectory
ASC's 5-year compound annual growth rate (CAGR) stands at +7.1%, indicating steady revenue expansion. The 3-year CAGR of -11.4% is below the 5-year average, signalling a growth deceleration in recent years. Ardmore Shipping Corporation's highest annual revenue of $445.7 million was recorded in 2022.
Peer Comparison
Compared to Industrials sector peers — including STNG (-2.8% YoY), TRMD (-2.4% YoY), and INSW (+14.5% YoY) — ASC has outperformed the peer group in revenue growth. Compare ASC vs STNG →
ASC Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ASCCurrent | $324M | +18.8% | +7.1% | 26.1% | |
 STNG | $938M | -2.8% | +0.5% | 33.0% | |
 TRMD | $1.4B | -2.4% | +13.2% | 25.6% | |
 INSW | $843M | +14.5% | +14.9% | 36.3% | |
 TK | $950M | -26.0% | -12.2% | 21.8% | |
 TNK | $952M | -12.8% | +1.4% | 22.6% |
ASC Historical Revenue Data (2011–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $310.2M | -23.6% | $106.1M | 34.2% | $81.0M | 26.1% |
| 2024 | $405.8M | +2.5% | $156.3M | 38.5% | $128.3M | 31.6% |
| 2023 | $396.0M | -11.2% | $167.1M | 42.2% | $131.7M | 33.3% |
| 2022 | $445.7M | +131.6% | $195.5M | 43.9% | $163.6M | 36.7% |
| 2021 | $192.5M | -12.5% | $8.0M | 4.2% | $-14,756,000 | -7.7% |
| 2020 | $220.1M | -4.3% | $43.4M | 19.7% | $0 | - |
| 2019 | $230.0M | +9.5% | $39.1M | 17.0% | $21.0M | 9.1% |
| 2018 | $210.2M | +7.3% | $76.9M | 36.6% | $-9,616,322 | -4.6% |
| 2017 | $195.9M | +19.2% | $88.9M | 45.4% | $8.5M | 4.3% |
| 2016 | $164.4M | +4.1% | $97.2M | 59.1% | $24.0M | 14.6% |
| 2015 | $157.9M | +134.5% | $103.6M | 65.6% | $44.3M | 28.1% |
| 2014 | $67.3M | +87.7% | $45.5M | 67.5% | $5.8M | 8.6% |
| 2013 | $35.9M | +42.5% | $25.0M | 69.6% | $-350,930 | -1.0% |
| 2012 | $25.2M | +12.5% | $16.5M | 65.5% | $-1,526,555 | -6.1% |
| 2011 | $22.4M | - | $14.9M | 66.6% | $115K | 0.5% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
15+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
ASC — Frequently Asked Questions
Quick answers to the most common questions about buying ASC stock.
Is ASC's revenue growth accelerating or slowing?
ASC revenue growth is accelerating. TTM revenue reached $324M, up +18.8% year-over-year — ahead of the 5-year CAGR of +7.1%. This indicates the business is expanding faster than its historical baseline.
What is ASC's revenue history from 2011 to 2026?
Ardmore Shipping Corporation (ASC) revenue history spans 2011 to 2026. TTM revenue as of 2026 is $324M, growing at +18.8% YoY. The 5-year CAGR is +7.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is ASC's long-term revenue growth rate (CAGR)?
Ardmore Shipping Corporation's 5-year revenue CAGR of +7.1% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +18.8% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for ASC.
Why does ASC's quarterly revenue fluctuate?
ASC quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Ardmore Shipping Corporation's revenue data from 2011 to 2026 shows full historical quarterly detail on this page.
How is ASC's revenue distributed by segment?
ASC reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does ASC's revenue compare to industry peers?
Ardmore Shipping Corporation (ASC) with TTM revenue of $324M and +18.8% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.