The company maintains resilient profitability with a 53.9% gross margin despite a 52.9% year-over-year revenue decline in 2025Q4 caused by the strategic divestment of legacy assets.
| Metric | Sep'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 |
|---|
| Sales/Revenue | 203.66M | 369.41M | 360.59M | 299.07M | 184.66M | 140.87M | 122.75M | 131.97M | 264.32M | 256.16M | 235.21M | 192.78M | 171.49M | 153.95M | 130.32M | 124.59M | 123.48M | 132.68M | 86.55M | 19.91M |
| Revenue Growth % | -44.87% | 2.45% | 20.57% | 61.95% | 31.09% | 14.75% | -6.99% | -50.07% | 3.19% | 8.91% | 22.01% | 12.41% | 11.4% | 18.14% | 4.59% | 0.9% | -6.93% | 53.3% | 334.62% | - |
| Cost of Goods Sold | 89.6M | 161.61M | 184.81M | 152.97M | 104.75M | 86.43M | 77.12M | 86.95M | 190.51M | 174.22M | 154.79M | 125.75M | 113.62M | 99.66M | 84.41M | 69.77M | 59.92M | 55.76M | 37.89M | 8.68M |
| COGS % of Revenue | 43.99% | 43.75% | 51.25% | 51.15% | 56.73% | 61.35% | 62.82% | 65.89% | 72.08% | 68.01% | 65.81% | 65.23% | 66.25% | 64.74% | 64.77% | 56% | 48.52% | 42.03% | 43.78% | 43.57% |
| Gross Profit | 114.06M | 207.81M | 175.78M | 146.1M | 79.91M | 54.44M | 45.63M | 45.02M | 73.81M | 81.94M | 80.41M | 67.03M | 57.87M | 54.29M | 45.91M | 54.82M | 63.56M | 76.91M | 48.65M | 11.24M |
| Gross Margin % | 56.01% | 56.25% | 48.75% | 48.85% | 43.27% | 38.65% | 37.18% | 34.11% | 27.92% | 31.99% | 34.19% | 34.77% | 33.75% | 35.26% | 35.23% | 44% | 51.48% | 57.97% | 56.22% | 56.43% |
| Gross Profit Growth % | -45.11% | 18.22% | 20.31% | 82.83% | 46.79% | 19.29% | 1.36% | -39.01% | -9.92% | 1.9% | 19.97% | 15.82% | 6.61% | 18.25% | -16.26% | -13.74% | -17.36% | 58.08% | 332.98% | - |
| Operating Expenses | 7.51M | 16.68M | 13.45M | 10.68M | 8.66M | 7.2M | 5.5M | 5.71M | 6.23M | 6.25M | 6.61M | 6.32M | 9.48M | 9.16M | 10.61M | 3.51M | 2.88M | 2.82M | 1.48M | 0 |
| OpEx % of Revenue | 3.69% | 4.52% | 3.73% | 3.57% | 4.69% | 5.11% | 4.48% | 4.33% | 2.36% | 2.44% | 2.81% | 3.28% | 5.53% | 5.95% | 8.14% | 2.81% | 2.33% | 2.12% | 1.71% | - |
| Selling, General & Admin | 11.43M | 16.68M | 13.45M | 10.68M | 8.66M | 7.2M | 5.5M | 5.71M | 6.23M | 6.25M | 6.61M | 6.32M | 9.48M | 9.16M | 10.61M | 3.51M | 2.88M | 2.82M | 1.48M | 0 |
| SG&A % of Revenue | 5.61% | 4.52% | 3.73% | 3.57% | 4.69% | 5.11% | 4.48% | 4.33% | 2.36% | 2.44% | 2.81% | 3.28% | 5.53% | 5.95% | 8.14% | 2.81% | 2.33% | 2.12% | 1.71% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -3.92M | 0 | 11.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 106.55M | 191.13M | 150.84M | 135.42M | 71.25M | 47.24M | 40.13M | 39.31M | 67.58M | 75.69M | 73.81M | 60.71M | 48.4M | 45.13M | 35.3M | 51.32M | 60.68M | 74.09M | 47.18M | 11.24M |
| Operating Margin % | 52.32% | 51.74% | 41.83% | 45.28% | 38.58% | 33.54% | 32.69% | 29.78% | 25.57% | 29.55% | 31.38% | 31.49% | 28.22% | 29.31% | 27.09% | 41.19% | 49.15% | 55.85% | 54.51% | 56.43% |
| Operating Income Growth % | -44.25% | 26.71% | 11.38% | 90.07% | 50.81% | 17.72% | 2.1% | -41.83% | -10.71% | 2.55% | 21.57% | 25.45% | 7.24% | 27.85% | -31.22% | -15.43% | -18.1% | 57.06% | 319.84% | - |
| EBITDA | 162.44M | 293.14M | 235.93M | 216.7M | 125.47M | 100.34M | 83.77M | 86.5M | 156.78M | 162.13M | 152.28M | 135M | 114.6M | 101.75M | 78.81M | 83.72M | 88.95M | 99.28M | 62.54M | 14.61M |
| EBITDA Margin % | 79.76% | 79.35% | 65.43% | 72.46% | 67.94% | 71.23% | 68.24% | 65.54% | 59.31% | 63.29% | 64.74% | 70.03% | 66.83% | 66.09% | 60.48% | 67.2% | 72.04% | 74.83% | 72.26% | 73.35% |
| EBITDA Growth % | -44.59% | 24.25% | 8.87% | 72.71% | 25.04% | 19.78% | -3.15% | -44.83% | -3.3% | 6.46% | 12.81% | 17.79% | 12.64% | 29.1% | -5.86% | -5.88% | -10.41% | 58.74% | 328.15% | - |
| D&A (Non-Cash Add-back) | 55.88M | 102.02M | 85.09M | 81.28M | 54.22M | 53.1M | 43.64M | 47.19M | 89.2M | 86.44M | 78.48M | 74.28M | 66.21M | 56.62M | 43.51M | 32.4M | 28.26M | 25.18M | 15.36M | 3.37M |
| EBIT | 108.73M | 194.44M | 152.07M | 135.42M | 71.25M | 47.24M | 40.13M | 39.31M | 65.09M | 75.95M | 75.55M | 63.24M | 115.47M | 5.47M | 120.94M | 52.18M | 62.15M | 75.32M | 44.08M | 11.19M |
| Net Interest Income | -84.63M | -139.83M | -104.86M | -55.42M | -20.13M | -16.74M | -17.04M | -18.96M | -19.96M | -24.3M | -20.14M | -19.23M | -15.46M | -26.66M | -32.94M | -32.4M | -31.21M | -25.38M | -10.1M | -4.57M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 533K | 0 | 879K | 860K | 1.48M | 1.28M | 711K | 13K |
| Interest Expense | 84.63M | 139.83M | 104.86M | 55.42M | 20.13M | 16.74M | 17.04M | 18.96M | 19.96M | 24.3M | 20.14M | 19.23M | 15.99M | 26.66M | 33.82M | 33.26M | 32.12M | 25.6M | 13.12M | 4.58M |
| Other Income/Expense | -53.57M | -136.52M | -103.63M | -57.28M | 26.93M | -16.88M | -15.71M | -46.92M | -51.78M | -23.2M | -18.4M | -16.7M | 51.09M | -24.43M | 51.82M | -32.4M | -30.65M | -19.11M | -16.22M | -4.63M |
| Pretax Income | 52.98M | 54.61M | 47.21M | 125.42M | 98.18M | 30.37M | 24.42M | -7.61M | 38.48M | 52.49M | 55.41M | 44.01M | 99.48M | -21.19M | 87.12M | 18.92M | 30.04M | 49.72M | 30.96M | 6.61M |
| Pretax Margin % | 26.01% | 14.78% | 13.09% | 41.94% | 53.17% | 21.56% | 19.89% | -5.77% | 14.56% | 20.49% | 23.56% | 22.83% | 58.01% | -13.76% | 66.85% | 15.18% | 24.32% | 37.47% | 35.77% | 33.19% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -352K | 657K | 0 | 0 | 0 | 0 | -640K | 3.31M | 1.34M | 0 | 12.44M | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 4.62% | 1.71% | 0% | 0% | 0% | 0% | 3.02% | 3.8% | 7.09% | 0% | 25.01% | 0% | 0% |
| Net Income | 53.52M | 192.08M | 46.53M | 125.42M | 98.18M | 30.37M | 24.18M | -7.26M | 37.83M | 51.39M | 54.52M | 43.42M | 97.2M | -20.55M | 83.81M | 17.58M | 28.64M | 37.28M | 21.14M | 6.61M |
| Net Margin % | 26.28% | 52% | 12.9% | 41.94% | 53.17% | 21.56% | 19.7% | -5.5% | 14.31% | 20.06% | 23.18% | 22.52% | 56.68% | -13.35% | 64.31% | 14.11% | 23.2% | 28.1% | 24.43% | 33.19% |
| Net Income Growth % | -72.13% | 312.83% | -62.9% | 27.75% | 223.3% | 25.56% | 433.17% | -119.19% | -26.39% | -5.75% | 25.57% | -55.33% | 573.04% | -124.52% | 376.8% | -38.63% | -23.18% | 76.36% | 219.82% | - |
| Net Income (Continuing) | 52.98M | 54.61M | 47.21M | 125.42M | 98.18M | 30.37M | 24.42M | -7.61M | 15.79M | 52.49M | 55.41M | 44.01M | 99.48M | -21.19M | 87.12M | 18.92M | 30.04M | 49.72M | 30.96M | 6.61M |
| Discontinued Operations | 545K | 139.03M | 0 | 0 | 0 | 0 | 0 | 0 | 22.69M | 0 | 0 | 0 | 0 | 0 | 0 | 359K | 0 | -9.27M | 0 | 0 |
| Minority Interest | 0 | 0 | 12.88M | 12.41M | 10.47M | 8.82M | 8.57M | 15.44M | 16.43M | 16.68M | 17M | 15.6M | 9.25M | 9.05M | 11.01M | 5.58M | 3.8M | 16.79M | 3.44M | 0 |
| EPS (Diluted) | 0.91 | 2.60 | 2.15 | 6.19 | 5.14 | 1.64 | 1.33 | -0.40 | 2.14 | 2.38 | 2.66 | 3.26 | 7.07 | -2.11 | 12.46 | 3.78 | 8.05 | 10.50 | 6.65 | 2.07 |
| EPS Growth % | -65% | 20.93% | -65.27% | 20.43% | 213.41% | 23.31% | 432.5% | -118.69% | -10.08% | -10.53% | -18.4% | -53.89% | 435.07% | -116.93% | 229.63% | -53.04% | -23.33% | 57.89% | 221.26% | - |
| EPS (Basic) | 0.91 | 2.60 | 2.15 | 6.19 | 5.14 | 1.64 | 1.33 | -0.40 | 2.14 | 2.38 | 2.66 | 3.26 | 7.28 | -2.11 | 12.46 | 3.78 | 8.05 | 10.50 | 6.65 | 2.07 |
| Diluted Shares Outstanding | 59.31M | 56.09M | 21.18M | 19.33M | 18.34M | 18.19M | 18.18M | 18.1M | 17.69M | 17.11M | 16.43M | 13.34M | 13.91M | 9.75M | 6.73M | 4.63M | 3.55M | 3.45M | 3.19M | 3.19M |
| Basic Shares Outstanding | 58.93M | 56.09M | 21.18M | 19.33M | 18.34M | 18.19M | 18.18M | 18.1M | 17.69M | 17.11M | 16.43M | 13.34M | 10.81M | 9.75M | 6.73M | 4.63M | 3.55M | 3.45M | 3.19M | 3.19M |
| Dividend Payout Ratio | 35.49% | 17.6% | 26.31% | 9.52% | 7.61% | 55.19% | 94.7% | - | 105.08% | 108.75% | 199.97% | 198.13% | 90.78% | - | 53.83% | 191.53% | 246.02% | 107% | 198.8% | - |
Fleet transition execution risk
As reported in recent financial statements, CCEC experienced a 52.9% year-over-year revenue decline in 2025Q4, a trend that appears to be a deliberate consequence of divesting legacy container assets to fund the company's transition toward a concentrated, long-term LNG carrier business model.
The sharp top-line contraction should be interpreted as a structural realignment rather than operational failure. Investors should monitor the pace of newbuild deliveries, as the current revenue trough is expected to reverse once the LNG fleet reaches full operational capacity.
Based on the latest quarterly data, CCEC maintained a robust 53.9% gross margin, suggesting that the company's time-charter model effectively insulates its profitability from the volatility typically associated with the marine shipping industry's underlying voyage-related cost structures.
The ability to sustain margins above 50% despite significant revenue volatility indicates strong pricing power and effective cost pass-through mechanisms. This structural stability appears to be a key differentiator compared to peers with higher exposure to spot-market fluctuations.
According to the income statement, CCEC achieved an operating margin of 50.3% in 2025Q4, demonstrating that the company's fixed-cost structure allows for significant operating leverage as it scales its new LNG fleet and manages overhead expenses with disciplined efficiency.
The minimal SG&A footprint relative to gross profit suggests that management is successfully containing administrative bloat during this capital-intensive transition. This efficiency may imply that future revenue growth from newbuilds will translate into disproportionate gains in operating income.
While the company's pivot to LNG is strategically sound, the 71.6% year-over-year decline in EPS reported in 2025Q4 highlights the significant earnings volatility that investors must navigate during the transition from a diversified MLP to a pure-play energy infrastructure entity.
Short-term earnings pressure may persist as the company absorbs the costs of fleet renewal and corporate restructuring. Investors should remain cautious regarding the potential for related-party transaction premiums to erode shareholder value if asset acquisition costs from the sponsor are not strictly aligned with market valuations.
Quick answers to the most common questions about buying CCEC stock.
For fiscal year 2025, Capital Clean Energy Carriers Corp. (CCEC) reported total revenue of $203.7M. This represents a 922.8% increase compared to $19.9M in 2006.
Capital Clean Energy Carriers Corp. (CCEC) is profitable, generating $53.5M in net income for the fiscal year ending 2025 with a net profit margin of 26.3%.
Capital Clean Energy Carriers Corp. (CCEC) reported an operating income of $106.6M, resulting in an operating profit margin of 52.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Capital Clean Energy Carriers Corp. (CCEC) generated $114.1M in gross profit for the year, representing a gross profit margin of 56.0%. This demonstrates the company's core pricing power and production efficiency.