Diana Shipping Inc. (DSX) 10-Year Financial Performance & Capital Metrics

DSX • • Industrial / General

IndustrialsMarine ShippingDry Bulk ShippingDry Bulk Operators

AboutDiana Shipping Inc. provides shipping transportation services. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. As of April 13, 2022, it operated a fleet of 35 dry bulk vessels, including 4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 6 Kamsarmax, and 8 Panamax. The company was formerly known as Diana Shipping Investments Corp. and changed its name to Diana Shipping Inc. in February 2005. Diana Shipping Inc. was incorporated in 1999 and is based in Athens, Greece.Show more

Revenue $228M -12.9%
EBITDA $104M -23.5%
Net Income $13M -74.4%
EPS (Diluted) 0.06 -86.3%
Gross Margin 57.85% +33.9%
EBITDA Margin 45.44% -12.1%
Operating Margin 25.76% -21.2%
Net Margin 5.59% -70.6%
ROE 2.56% -74.9%
ROIC 4.3% -29.5%
Debt/Equity 1.26 -4.0%
Interest Coverage 1.31 -24.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 26.0% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Trading near 52-week high
✓Trading at only 0.5x book value

✗Weaknesses

✗Dividend payout exceeds 100% of earnings
✗Shares diluted 16.5% in last year
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.66%

5Y0.67%

3Y2.13%

TTM-5.45%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-39.44%

TTM97.21%

EPS CAGR

10Y-

5Y-11.77%

3Y-54.15%

TTM157.91%

ROCE

10Y Avg-0.81%

5Y Avg7.25%

3Y Avg9.69%

Latest5.41%

Peer Comparison

Dry Bulk Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GLBSGlobus Maritime Limited	35.4M	1.72	82.30	11.74%	-16.48%	-3.41%		0.78
DSXDiana Shipping Inc.	241.98M	2.09	35.54	-12.93%	11.18%	4.89%	24.5%	1.26
HSHPHimalaya Shipping Ltd.	421.25M	9.03	18.81	236.4%	4.39%	3.28%		4.61
GNKGenco Shipping & Trading Limited	859.67M	19.88	11.36	10.21%	-2.14%	-0.8%	8.16%	0.10
PANLPangaea Logistics Solutions, Ltd.	455.47M	7.01	11.13	7.46%	2.67%	3.42%		0.84
SBLKStar Bulk Carriers Corp.	2.38B	20.90	7.46	33.31%	5.85%	2.54%	17.33%	0.59
SBSafe Bulkers, Inc.	533.13M	5.21	6.28	8.17%	16.78%	5.58%		0.65
SHIPSeanergy Maritime Holdings Corp.	199.32M	9.44	4.47	51.91%	10.23%	5.86%	0.47%	0.98

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	157.71M	114.26M	161.9M	226.19M	220.73M	169.73M	214.2M	289.97M	262.1M	228.21M
Revenue Growth %	-0.1%	-0.28%	0.42%	0.4%	-0.02%	-0.23%	0.26%	0.35%	-0.1%	-0.13%
Cost of Goods Sold+	180.13M	181.36M	185.98M	155.12M	153.05M	142.36M	120.82M	122.3M	148.89M	96.19M
COGS % of Revenue	1.14%	1.59%	1.15%	0.69%	0.69%	0.84%	0.56%	0.42%	0.57%	0.42%
Gross Profit+	-22.42M	-67.1M	-24.08M	71.07M	67.68M	27.37M	93.39M	167.67M	113.21M	132.01M
Gross Margin %	-0.14%	-0.59%	-0.15%	0.31%	0.31%	0.16%	0.44%	0.58%	0.43%	0.58%
Gross Profit Growth %	-4%	-1.99%	0.64%	3.95%	-0.05%	-0.6%	2.41%	0.8%	-0.32%	0.17%
Operating Expenses+	25.74M	26.97M	28.51M	31.37M	29.9M	140.04M	29.87M	24.97M	27.49M	73.24M
OpEx % of Revenue	0.16%	0.24%	0.18%	0.14%	0.14%	0.83%	0.14%	0.09%	0.1%	0.32%
Selling, General & Admin	25.74M	26.97M	28.21M	31.91M	30.76M	34.8M	29.19M	29.37M	34.28M	34.77M
SG&A % of Revenue	0.16%	0.24%	0.17%	0.14%	0.14%	0.2%	0.14%	0.1%	0.13%	0.15%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	296K	-542K	-854K	105.25M	675K	-4.39M	-6.79M	38.47M
Operating Income+	-47.18M	-88.32M	-483.99M	-3.67M	-9.85M	-7.42M	63.52M	142.7M	85.71M	58.78M
Operating Margin %	-0.3%	-0.77%	-2.99%	-0.02%	-0.04%	-0.04%	0.3%	0.49%	0.33%	0.26%
Operating Income Growth %	-1.59%	-0.87%	-4.48%	0.99%	-1.68%	0.25%	9.55%	1.25%	-0.4%	-0.31%
EBITDA+	29.16M	-6.74M	-396.98M	48.53M	39.05M	35.57M	104.01M	186.02M	135.5M	103.7M
EBITDA Margin %	0.18%	-0.06%	-2.45%	0.21%	0.18%	0.21%	0.49%	0.64%	0.52%	0.45%
EBITDA Growth %	-0.44%	-1.23%	-57.87%	1.12%	-0.2%	-0.09%	1.92%	0.79%	-0.27%	-0.23%
D&A (Non-Cash Add-back)	76.33M	81.58M	87M	52.21M	48.9M	42.99M	40.49M	43.33M	49.78M	44.92M
EBIT	-50.79M	-144.71M	-486.74M	44.88M	17.43M	-110.99M	62.16M	138.06M	80.39M	52.98M
Net Interest Income+	-12.4M	-19.54M	-22.12M	-21.68M	-26.57M	-20.79M	-20.06M	-24.68M	-41.16M	-39.1M
Interest Income	3.15M	2.41M	4.51M	8.82M	2.86M	728K	176K	2.74M	8.17M	5.64M
Interest Expense	15.55M	21.95M	26.63M	30.51M	29.43M	21.51M	20.24M	27.42M	49.33M	44.74M
Other Income/Expense	-17.54M	-75.92M	-27.73M	20.25M	-28.16M	-21.52M	-6.12M	-23.63M	-35.87M	-46.03M
Pretax Income+	-64.71M	-164.24M	-511.71M	16.58M	-10.54M	-134.2M	57.39M	119.06M	49.84M	12.75M
Pretax Margin %	-0.41%	-1.44%	-3.16%	0.07%	-0.05%	-0.79%	0.27%	0.41%	0.19%	0.06%
Income Tax+	0	0	0	-50.76M	-21.05M	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	4.06%	1%	1%	1%	1%	1%	1%
Net Income+	-64.71M	-164.24M	-511.71M	67.34M	-10.54M	-134.2M	57.39M	119.06M	49.84M	12.75M
Net Margin %	-0.41%	-1.44%	-3.16%	0.3%	-0.05%	-0.79%	0.27%	0.41%	0.19%	0.06%
Net Income Growth %	-5.3%	-1.54%	-2.12%	1.13%	-1.16%	-11.74%	1.43%	1.07%	-0.58%	-0.74%
Net Income (Continuing)	-64.71M	-164.24M	-511.71M	16.58M	0	-134.2M	57.39M	119.06M	49.84M	12.75M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.81	-2.04	-5.35	0.64	0.11	-1.62	0.61	1.36	0.43	0.06
EPS Growth %	-5.23%	-1.52%	-1.62%	1.12%	-0.83%	-15.73%	1.38%	1.23%	-0.68%	-0.86%
EPS (Basic)	-0.81	-2.04	-5.35	0.65	0.11	-1.62	0.64	1.42	0.44	0.06
Diluted Shares Outstanding	79.52M	80.44M	95.73M	104.72M	95.19M	86.14M	84.86M	83.32M	101.88M	118.66M
Basic Shares Outstanding	79.52M	80.44M	95.65M	103.74M	95.19M	86.14M	81.12M	80.06M	100.17M	115.96M
Dividend Payout Ratio	-	-	-	-	-	-	0.15%	0.67%	0.83%	2.28%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	215.01M	115.32M	138.76M	141.97M	137.04M	124.66M	142.35M	161.56M	182.22M	206.61M
Cash & Short-Term Investments	193.22M	98.14M	40.23M	126.83M	107.29M	82.91M	126.79M	122.93M	162.32M	188.17M
Cash Only	193.22M	98.14M	40.23M	126.83M	107.29M	82.91M	126.79M	76.43M	101.59M	124.67M
Short-Term Investments	0	0	0	0	0	0	0	46.5M	60.73M	63.5M
Accounts Receivable	9.62M	6M	87.6M	2.95M	7.88M	6.43M	3.78M	6.34M	6.02M	6.76M
Days Sales Outstanding	22.25	19.18	197.49	4.76	13.04	13.83	6.45	7.98	8.38	10.81
Inventory	6.25M	5.86M	5.77M	5.83M	5.53M	4.72M	6.09M	4.54M	5.06M	4.19M
Days Inventory Outstanding	12.67	11.79	11.32	13.73	13.18	12.09	18.4	13.56	12.39	15.91
Other Current Assets	21.5M	0	0	0	7.13M	23.36M	209K	27.75M	8.82M	605K
Total Non-Current Assets+	1.62B	1.55B	1.11B	1.05B	934.24M	747.75M	699.8M	1.02B	984.19M	964.41M
Property, Plant & Equipment	1.51B	1.47B	1.08B	1.01B	904.37M	737.88M	682.58M	996.7M	924.47M	880.14M
Fixed Asset Turnover	0.10x	0.08x	0.15x	0.22x	0.24x	0.23x	0.31x	0.29x	0.28x	0.26x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	62.49M	6.01M	3.25M	3.26M	1.68M	20M	7.64M	8.25M	24.09M	47.24M
Other Non-Current Assets	50.66M	73.44M	28.48M	28.73M	28.19M	-10.13M	9.58M	16.4M	35.63M	37.02M
Total Assets+	1.84B	1.67B	1.25B	1.19B	1.07B	872.41M	842.16M	1.18B	1.17B	1.17B
Asset Turnover	0.09x	0.07x	0.13x	0.19x	0.21x	0.19x	0.25x	0.25x	0.22x	0.19x
Asset Growth %	0.03%	-0.09%	-0.25%	-0.05%	-0.1%	-0.19%	-0.03%	0.4%	-0.01%	0%
Total Current Liabilities+	58.89M	78.22M	80.44M	125.16M	65.48M	61.59M	65.13M	131.57M	85.13M	80.18M
Accounts Payable	8.96M	6.57M	7.95M	11.07M	11.39M	8.56M	9.78M	11.24M	9.66M	8.99M
Days Payables Outstanding	18.16	13.23	15.61	26.05	27.17	21.94	29.54	33.55	23.69	34.11
Short-Term Debt	40.98M	65.07M	60.76M	96.43M	40.2M	39.22M	41.15M	100.3M	58.73M	54.87M
Deferred Revenue (Current)	1000K	822K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	15K	0	0	0	0	0	0	0	0	190K
Current Ratio	3.65x	1.47x	1.73x	1.13x	2.09x	2.02x	2.19x	1.23x	2.14x	2.58x
Quick Ratio	3.55x	1.40x	1.65x	1.09x	2.01x	1.95x	2.09x	1.19x	2.08x	2.52x
Cash Conversion Cycle	16.76	17.75	193.2	-7.57	-0.96	3.98	-4.69	-12	-2.91	-7.39
Total Non-Current Liabilities+	559.71M	612.07M	621.96M	434.96M	435.73M	382.25M	383.62M	564.02M	592.25M	585.78M
Long-Term Debt	559.09M	533.11M	540.62M	434.11M	434.75M	381.1M	382.53M	431.02M	461.13M	469.39M
Capital Lease Obligations	0	0	0	0	0	0	0	132.13M	122.91M	113.3M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	623K	740K	902K	843K	986K	1.15M	1.1M	879K	8.22M	3.09M
Total Liabilities	618.6M	612.07M	621.96M	560.11M	501.22M	443.84M	448.75M	695.59M	677.39M	665.96M
Total Debt+	617.98M	598.18M	601.38M	530.55M	474.95M	420.31M	423.68M	663.44M	642.77M	637.52M
Net Debt	424.76M	500.04M	561.16M	403.72M	367.66M	337.4M	296.89M	587.01M	541.18M	513.02M
Debt / Equity	0.51x	0.57x	0.96x	0.85x	0.83x	0.98x	1.08x	1.36x	1.31x	1.26x
Debt / EBITDA	21.20x	-	-	10.93x	12.16x	11.82x	4.07x	3.57x	4.74x	6.15x
Net Debt / EBITDA	14.57x	-	-	8.32x	9.41x	9.49x	2.85x	3.16x	3.99x	4.95x
Interest Coverage	-3.03x	-4.02x	-18.18x	-0.12x	-0.33x	-0.35x	3.14x	5.20x	1.74x	1.31x
Total Equity+	1.22B	1.06B	624.76M	627.68M	570.06M	428.57M	393.4M	487.33M	489.02M	505.06M
Equity Growth %	-0.05%	-0.13%	-0.41%	0%	-0.09%	-0.25%	-0.08%	0.24%	0%	0.03%
Book Value per Share	15.32	13.13	6.53	5.99	5.99	4.98	4.64	5.85	4.80	4.26
Total Shareholders' Equity	1.22B	1.06B	624.76M	627.68M	570.06M	428.57M	393.4M	487.33M	489.02M	505.06M
Common Stock	825K	847K	1.06M	1.04M	912K	893K	847K	1.03M	1.13M	1.25M
Retained Earnings	240.37M	70.36M	-447.12M	-436.31M	-452.62M	-592.58M	-590.29M	-574.99M	-613.87M	-635.9M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	269K	185K	294K	287K	109K	69K	71K	253K	308K	312K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	23.95M	-21M	23.41M	79.93M	49.88M	17.23M	89.7M	158.86M	70.38M	83.53M
Operating CF Margin %	0.15%	-0.18%	0.14%	0.35%	0.23%	0.1%	0.42%	0.55%	0.27%	0.37%
Operating CF Growth %	-0.47%	-1.88%	2.12%	2.41%	-0.38%	-0.65%	4.21%	0.77%	-0.56%	0.19%
Net Income	-64.71M	-164.24M	-511.71M	16.58M	-10.54M	-134.2M	57.39M	119.06M	49.84M	12.75M
Depreciation & Amortization	76.33M	81.58M	87M	52.21M	48.9M	42.99M	40.49M	43.33M	49.78M	47.06M
Stock-Based Compensation	8.28M	8.31M	8.23M	7.28M	7.58M	10.51M	7.44M	9.28M	0	10.01M
Deferred Taxes	-2.13M	47.98M	439.76M	0	14.17M	95.67M	-22.51M	-9.28M	-9.94M	0
Other Non-Cash Items	3.55M	7.03M	-7.61M	-5.89M	3.48M	1.46M	4.78M	-8.48M	11.93M	1.14M
Working Capital Changes	2.63M	-1.67M	7.74M	9.76M	-13.71M	809K	2.11M	4.95M	-31.24M	12.57M
Change in Receivables	1.87M	-1.39M	966K	1.99M	-4.91M	2.63M	1.57M	-3.43M	4K	-576K
Change in Inventory	1.06M	391K	90K	-65K	309K	809K	-1.58M	1.77M	-511K	863K
Change in Payables	-739K	-2.39M	1.38M	3.12M	321K	-2.84M	1.22M	1.47M	-1.76M	-673K
Cash from Investing+	-155.64M	-41.62M	-152.33M	99.37M	38.4M	10.48M	13.36M	-273.1M	24.93M	-39.78M
Capital Expenditures	-155.56M	-51.13M	-125.89M	-2.83M	-2.93M	-6.14M	-18.99M	-230.97M	-31.74M	-24.23M
CapEx % of Revenue	0.99%	0.45%	0.78%	0.01%	0.01%	0.04%	0.09%	0.8%	0.12%	0.11%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	193K	9.51M	-26.61M	102.19M	0	16.12M	33.73M	4.37M	24.97M	0
Cash from Financing+	106.01M	-10.96M	73.59M	-93.7M	-111.4M	-73.1M	-59.19M	84.88M	-71.14M	-21.67M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-5.77M	-5.77M	-5.77M	-5.77M	-5.77M	-5.77M	-14.59M	-85.58M	-47.2M	-34.77M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-5.48M	-1.97M	-31K	-2.83M	603K	-567K	-7.59M	-3.3M	-1.72M	-5.24M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-131.62M	-72.13M	-102.47M	77.11M	46.95M	11.1M	70.71M	-72.11M	38.64M	59.3M
FCF Margin %	-0.83%	-0.63%	-0.63%	0.34%	0.21%	0.07%	0.33%	-0.25%	0.15%	0.26%
FCF Growth %	-0.93%	0.45%	-0.42%	1.75%	-0.39%	-0.76%	5.37%	-2.02%	1.54%	0.53%
FCF per Share	-1.66	-0.90	-1.07	0.74	0.49	0.13	0.83	-0.87	0.38	0.50
FCF Conversion (FCF/Net Income)	-0.37x	0.13x	-0.05x	1.19x	-4.73x	-0.13x	1.56x	1.33x	1.41x	6.55x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-5.18%	-14.44%	-60.87%	10.75%	-1.76%	-26.88%	13.96%	27.04%	10.21%	2.56%
Return on Invested Capital (ROIC)	-2.2%	-4.14%	-26.47%	-0.25%	-0.75%	-0.65%	6.54%	12.13%	6.11%	4.3%
Gross Margin	-14.22%	-58.73%	-14.87%	31.42%	30.66%	16.13%	43.6%	57.82%	43.19%	57.85%
Net Margin	-41.03%	-143.74%	-316.07%	29.77%	-4.77%	-79.06%	26.79%	41.06%	19.02%	5.59%
Debt / Equity	0.51x	0.57x	0.96x	0.85x	0.83x	0.98x	1.08x	1.36x	1.31x	1.26x
Interest Coverage	-3.03x	-4.02x	-18.18x	-0.12x	-0.33x	-0.35x	3.14x	5.20x	1.74x	1.31x
FCF Conversion	-0.37x	0.13x	-0.05x	1.19x	-4.73x	-0.13x	1.56x	1.33x	1.41x	6.55x
Revenue Growth	-10.17%	-27.55%	41.69%	39.71%	-2.41%	-23.1%	26.2%	35.37%	-9.61%	-12.93%

Frequently Asked Questions

Valuation & Price

Diana Shipping Inc. (DSX) has a price-to-earnings (P/E) ratio of 35.5x. This suggests investors expect higher future growth.

Growth & Financials

Diana Shipping Inc. (DSX) reported $218.6M in revenue for fiscal year 2024. This represents a 15% decrease from $256.8M in 2011.

Diana Shipping Inc. (DSX) saw revenue decline by 12.9% over the past year.

Yes, Diana Shipping Inc. (DSX) is profitable, generating $24.4M in net income for fiscal year 2024 (5.6% net margin).

Dividend & Returns

Yes, Diana Shipping Inc. (DSX) pays a dividend with a yield of 11.70%. This makes it attractive for income-focused investors.

Diana Shipping Inc. (DSX) has a return on equity (ROE) of 2.6%. This is below average, suggesting room for improvement.

Diana Shipping Inc. (DSX) generated $59.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Diana Shipping Inc. (DSX) 10-Year Financial Performance & Capital Metrics

DSX • • Industrial / General

IndustrialsMarine ShippingDry Bulk ShippingDry Bulk Operators

Revenue $228M -12.9%
EBITDA $104M -23.5%
Net Income $13M -74.4%
EPS (Diluted) 0.06 -86.3%
Gross Margin 57.85% +33.9%
EBITDA Margin 45.44% -12.1%
Operating Margin 25.76% -21.2%
Net Margin 5.59% -70.6%
ROE 2.56% -74.9%
ROIC 4.3% -29.5%
Debt/Equity 1.26 -4.0%
Interest Coverage 1.31 -24.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 26.0% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Trading near 52-week high
✓Trading at only 0.5x book value

✗Weaknesses

✗Dividend payout exceeds 100% of earnings
✗Shares diluted 16.5% in last year
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.66%

5Y0.67%

3Y2.13%

TTM-5.45%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-39.44%

TTM97.21%

EPS CAGR

10Y-

5Y-11.77%

3Y-54.15%

TTM157.91%

ROCE

10Y Avg-0.81%

5Y Avg7.25%

3Y Avg9.69%

Latest5.41%

Peer Comparison

Dry Bulk Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GLBSGlobus Maritime Limited	35.4M	1.72	82.30	11.74%	-16.48%	-3.41%		0.78
DSXDiana Shipping Inc.	241.98M	2.09	35.54	-12.93%	11.18%	4.89%	24.5%	1.26
HSHPHimalaya Shipping Ltd.	421.25M	9.03	18.81	236.4%	4.39%	3.28%		4.61
GNKGenco Shipping & Trading Limited	859.67M	19.88	11.36	10.21%	-2.14%	-0.8%	8.16%	0.10
PANLPangaea Logistics Solutions, Ltd.	455.47M	7.01	11.13	7.46%	2.67%	3.42%		0.84
SBLKStar Bulk Carriers Corp.	2.38B	20.90	7.46	33.31%	5.85%	2.54%	17.33%	0.59
SBSafe Bulkers, Inc.	533.13M	5.21	6.28	8.17%	16.78%	5.58%		0.65
SHIPSeanergy Maritime Holdings Corp.	199.32M	9.44	4.47	51.91%	10.23%	5.86%	0.47%	0.98

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	157.71M	114.26M	161.9M	226.19M	220.73M	169.73M	214.2M	289.97M	262.1M	228.21M
Revenue Growth %	-0.1%	-0.28%	0.42%	0.4%	-0.02%	-0.23%	0.26%	0.35%	-0.1%	-0.13%
Cost of Goods Sold+	180.13M	181.36M	185.98M	155.12M	153.05M	142.36M	120.82M	122.3M	148.89M	96.19M
COGS % of Revenue	1.14%	1.59%	1.15%	0.69%	0.69%	0.84%	0.56%	0.42%	0.57%	0.42%
Gross Profit+	-22.42M	-67.1M	-24.08M	71.07M	67.68M	27.37M	93.39M	167.67M	113.21M	132.01M
Gross Margin %	-0.14%	-0.59%	-0.15%	0.31%	0.31%	0.16%	0.44%	0.58%	0.43%	0.58%
Gross Profit Growth %	-4%	-1.99%	0.64%	3.95%	-0.05%	-0.6%	2.41%	0.8%	-0.32%	0.17%
Operating Expenses+	25.74M	26.97M	28.51M	31.37M	29.9M	140.04M	29.87M	24.97M	27.49M	73.24M
OpEx % of Revenue	0.16%	0.24%	0.18%	0.14%	0.14%	0.83%	0.14%	0.09%	0.1%	0.32%
Selling, General & Admin	25.74M	26.97M	28.21M	31.91M	30.76M	34.8M	29.19M	29.37M	34.28M	34.77M
SG&A % of Revenue	0.16%	0.24%	0.17%	0.14%	0.14%	0.2%	0.14%	0.1%	0.13%	0.15%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	296K	-542K	-854K	105.25M	675K	-4.39M	-6.79M	38.47M
Operating Income+	-47.18M	-88.32M	-483.99M	-3.67M	-9.85M	-7.42M	63.52M	142.7M	85.71M	58.78M
Operating Margin %	-0.3%	-0.77%	-2.99%	-0.02%	-0.04%	-0.04%	0.3%	0.49%	0.33%	0.26%
Operating Income Growth %	-1.59%	-0.87%	-4.48%	0.99%	-1.68%	0.25%	9.55%	1.25%	-0.4%	-0.31%
EBITDA+	29.16M	-6.74M	-396.98M	48.53M	39.05M	35.57M	104.01M	186.02M	135.5M	103.7M
EBITDA Margin %	0.18%	-0.06%	-2.45%	0.21%	0.18%	0.21%	0.49%	0.64%	0.52%	0.45%
EBITDA Growth %	-0.44%	-1.23%	-57.87%	1.12%	-0.2%	-0.09%	1.92%	0.79%	-0.27%	-0.23%
D&A (Non-Cash Add-back)	76.33M	81.58M	87M	52.21M	48.9M	42.99M	40.49M	43.33M	49.78M	44.92M
EBIT	-50.79M	-144.71M	-486.74M	44.88M	17.43M	-110.99M	62.16M	138.06M	80.39M	52.98M
Net Interest Income+	-12.4M	-19.54M	-22.12M	-21.68M	-26.57M	-20.79M	-20.06M	-24.68M	-41.16M	-39.1M
Interest Income	3.15M	2.41M	4.51M	8.82M	2.86M	728K	176K	2.74M	8.17M	5.64M
Interest Expense	15.55M	21.95M	26.63M	30.51M	29.43M	21.51M	20.24M	27.42M	49.33M	44.74M
Other Income/Expense	-17.54M	-75.92M	-27.73M	20.25M	-28.16M	-21.52M	-6.12M	-23.63M	-35.87M	-46.03M
Pretax Income+	-64.71M	-164.24M	-511.71M	16.58M	-10.54M	-134.2M	57.39M	119.06M	49.84M	12.75M
Pretax Margin %	-0.41%	-1.44%	-3.16%	0.07%	-0.05%	-0.79%	0.27%	0.41%	0.19%	0.06%
Income Tax+	0	0	0	-50.76M	-21.05M	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	4.06%	1%	1%	1%	1%	1%	1%
Net Income+	-64.71M	-164.24M	-511.71M	67.34M	-10.54M	-134.2M	57.39M	119.06M	49.84M	12.75M
Net Margin %	-0.41%	-1.44%	-3.16%	0.3%	-0.05%	-0.79%	0.27%	0.41%	0.19%	0.06%
Net Income Growth %	-5.3%	-1.54%	-2.12%	1.13%	-1.16%	-11.74%	1.43%	1.07%	-0.58%	-0.74%
Net Income (Continuing)	-64.71M	-164.24M	-511.71M	16.58M	0	-134.2M	57.39M	119.06M	49.84M	12.75M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.81	-2.04	-5.35	0.64	0.11	-1.62	0.61	1.36	0.43	0.06
EPS Growth %	-5.23%	-1.52%	-1.62%	1.12%	-0.83%	-15.73%	1.38%	1.23%	-0.68%	-0.86%
EPS (Basic)	-0.81	-2.04	-5.35	0.65	0.11	-1.62	0.64	1.42	0.44	0.06
Diluted Shares Outstanding	79.52M	80.44M	95.73M	104.72M	95.19M	86.14M	84.86M	83.32M	101.88M	118.66M
Basic Shares Outstanding	79.52M	80.44M	95.65M	103.74M	95.19M	86.14M	81.12M	80.06M	100.17M	115.96M
Dividend Payout Ratio	-	-	-	-	-	-	0.15%	0.67%	0.83%	2.28%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	215.01M	115.32M	138.76M	141.97M	137.04M	124.66M	142.35M	161.56M	182.22M	206.61M
Cash & Short-Term Investments	193.22M	98.14M	40.23M	126.83M	107.29M	82.91M	126.79M	122.93M	162.32M	188.17M
Cash Only	193.22M	98.14M	40.23M	126.83M	107.29M	82.91M	126.79M	76.43M	101.59M	124.67M
Short-Term Investments	0	0	0	0	0	0	0	46.5M	60.73M	63.5M
Accounts Receivable	9.62M	6M	87.6M	2.95M	7.88M	6.43M	3.78M	6.34M	6.02M	6.76M
Days Sales Outstanding	22.25	19.18	197.49	4.76	13.04	13.83	6.45	7.98	8.38	10.81
Inventory	6.25M	5.86M	5.77M	5.83M	5.53M	4.72M	6.09M	4.54M	5.06M	4.19M
Days Inventory Outstanding	12.67	11.79	11.32	13.73	13.18	12.09	18.4	13.56	12.39	15.91
Other Current Assets	21.5M	0	0	0	7.13M	23.36M	209K	27.75M	8.82M	605K
Total Non-Current Assets+	1.62B	1.55B	1.11B	1.05B	934.24M	747.75M	699.8M	1.02B	984.19M	964.41M
Property, Plant & Equipment	1.51B	1.47B	1.08B	1.01B	904.37M	737.88M	682.58M	996.7M	924.47M	880.14M
Fixed Asset Turnover	0.10x	0.08x	0.15x	0.22x	0.24x	0.23x	0.31x	0.29x	0.28x	0.26x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	62.49M	6.01M	3.25M	3.26M	1.68M	20M	7.64M	8.25M	24.09M	47.24M
Other Non-Current Assets	50.66M	73.44M	28.48M	28.73M	28.19M	-10.13M	9.58M	16.4M	35.63M	37.02M
Total Assets+	1.84B	1.67B	1.25B	1.19B	1.07B	872.41M	842.16M	1.18B	1.17B	1.17B
Asset Turnover	0.09x	0.07x	0.13x	0.19x	0.21x	0.19x	0.25x	0.25x	0.22x	0.19x
Asset Growth %	0.03%	-0.09%	-0.25%	-0.05%	-0.1%	-0.19%	-0.03%	0.4%	-0.01%	0%
Total Current Liabilities+	58.89M	78.22M	80.44M	125.16M	65.48M	61.59M	65.13M	131.57M	85.13M	80.18M
Accounts Payable	8.96M	6.57M	7.95M	11.07M	11.39M	8.56M	9.78M	11.24M	9.66M	8.99M
Days Payables Outstanding	18.16	13.23	15.61	26.05	27.17	21.94	29.54	33.55	23.69	34.11
Short-Term Debt	40.98M	65.07M	60.76M	96.43M	40.2M	39.22M	41.15M	100.3M	58.73M	54.87M
Deferred Revenue (Current)	1000K	822K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	15K	0	0	0	0	0	0	0	0	190K
Current Ratio	3.65x	1.47x	1.73x	1.13x	2.09x	2.02x	2.19x	1.23x	2.14x	2.58x
Quick Ratio	3.55x	1.40x	1.65x	1.09x	2.01x	1.95x	2.09x	1.19x	2.08x	2.52x
Cash Conversion Cycle	16.76	17.75	193.2	-7.57	-0.96	3.98	-4.69	-12	-2.91	-7.39
Total Non-Current Liabilities+	559.71M	612.07M	621.96M	434.96M	435.73M	382.25M	383.62M	564.02M	592.25M	585.78M
Long-Term Debt	559.09M	533.11M	540.62M	434.11M	434.75M	381.1M	382.53M	431.02M	461.13M	469.39M
Capital Lease Obligations	0	0	0	0	0	0	0	132.13M	122.91M	113.3M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	623K	740K	902K	843K	986K	1.15M	1.1M	879K	8.22M	3.09M
Total Liabilities	618.6M	612.07M	621.96M	560.11M	501.22M	443.84M	448.75M	695.59M	677.39M	665.96M
Total Debt+	617.98M	598.18M	601.38M	530.55M	474.95M	420.31M	423.68M	663.44M	642.77M	637.52M
Net Debt	424.76M	500.04M	561.16M	403.72M	367.66M	337.4M	296.89M	587.01M	541.18M	513.02M
Debt / Equity	0.51x	0.57x	0.96x	0.85x	0.83x	0.98x	1.08x	1.36x	1.31x	1.26x
Debt / EBITDA	21.20x	-	-	10.93x	12.16x	11.82x	4.07x	3.57x	4.74x	6.15x
Net Debt / EBITDA	14.57x	-	-	8.32x	9.41x	9.49x	2.85x	3.16x	3.99x	4.95x
Interest Coverage	-3.03x	-4.02x	-18.18x	-0.12x	-0.33x	-0.35x	3.14x	5.20x	1.74x	1.31x
Total Equity+	1.22B	1.06B	624.76M	627.68M	570.06M	428.57M	393.4M	487.33M	489.02M	505.06M
Equity Growth %	-0.05%	-0.13%	-0.41%	0%	-0.09%	-0.25%	-0.08%	0.24%	0%	0.03%
Book Value per Share	15.32	13.13	6.53	5.99	5.99	4.98	4.64	5.85	4.80	4.26
Total Shareholders' Equity	1.22B	1.06B	624.76M	627.68M	570.06M	428.57M	393.4M	487.33M	489.02M	505.06M
Common Stock	825K	847K	1.06M	1.04M	912K	893K	847K	1.03M	1.13M	1.25M
Retained Earnings	240.37M	70.36M	-447.12M	-436.31M	-452.62M	-592.58M	-590.29M	-574.99M	-613.87M	-635.9M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	269K	185K	294K	287K	109K	69K	71K	253K	308K	312K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	23.95M	-21M	23.41M	79.93M	49.88M	17.23M	89.7M	158.86M	70.38M	83.53M
Operating CF Margin %	0.15%	-0.18%	0.14%	0.35%	0.23%	0.1%	0.42%	0.55%	0.27%	0.37%
Operating CF Growth %	-0.47%	-1.88%	2.12%	2.41%	-0.38%	-0.65%	4.21%	0.77%	-0.56%	0.19%
Net Income	-64.71M	-164.24M	-511.71M	16.58M	-10.54M	-134.2M	57.39M	119.06M	49.84M	12.75M
Depreciation & Amortization	76.33M	81.58M	87M	52.21M	48.9M	42.99M	40.49M	43.33M	49.78M	47.06M
Stock-Based Compensation	8.28M	8.31M	8.23M	7.28M	7.58M	10.51M	7.44M	9.28M	0	10.01M
Deferred Taxes	-2.13M	47.98M	439.76M	0	14.17M	95.67M	-22.51M	-9.28M	-9.94M	0
Other Non-Cash Items	3.55M	7.03M	-7.61M	-5.89M	3.48M	1.46M	4.78M	-8.48M	11.93M	1.14M
Working Capital Changes	2.63M	-1.67M	7.74M	9.76M	-13.71M	809K	2.11M	4.95M	-31.24M	12.57M
Change in Receivables	1.87M	-1.39M	966K	1.99M	-4.91M	2.63M	1.57M	-3.43M	4K	-576K
Change in Inventory	1.06M	391K	90K	-65K	309K	809K	-1.58M	1.77M	-511K	863K
Change in Payables	-739K	-2.39M	1.38M	3.12M	321K	-2.84M	1.22M	1.47M	-1.76M	-673K
Cash from Investing+	-155.64M	-41.62M	-152.33M	99.37M	38.4M	10.48M	13.36M	-273.1M	24.93M	-39.78M
Capital Expenditures	-155.56M	-51.13M	-125.89M	-2.83M	-2.93M	-6.14M	-18.99M	-230.97M	-31.74M	-24.23M
CapEx % of Revenue	0.99%	0.45%	0.78%	0.01%	0.01%	0.04%	0.09%	0.8%	0.12%	0.11%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	193K	9.51M	-26.61M	102.19M	0	16.12M	33.73M	4.37M	24.97M	0
Cash from Financing+	106.01M	-10.96M	73.59M	-93.7M	-111.4M	-73.1M	-59.19M	84.88M	-71.14M	-21.67M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-5.77M	-5.77M	-5.77M	-5.77M	-5.77M	-5.77M	-14.59M	-85.58M	-47.2M	-34.77M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-5.48M	-1.97M	-31K	-2.83M	603K	-567K	-7.59M	-3.3M	-1.72M	-5.24M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-131.62M	-72.13M	-102.47M	77.11M	46.95M	11.1M	70.71M	-72.11M	38.64M	59.3M
FCF Margin %	-0.83%	-0.63%	-0.63%	0.34%	0.21%	0.07%	0.33%	-0.25%	0.15%	0.26%
FCF Growth %	-0.93%	0.45%	-0.42%	1.75%	-0.39%	-0.76%	5.37%	-2.02%	1.54%	0.53%
FCF per Share	-1.66	-0.90	-1.07	0.74	0.49	0.13	0.83	-0.87	0.38	0.50
FCF Conversion (FCF/Net Income)	-0.37x	0.13x	-0.05x	1.19x	-4.73x	-0.13x	1.56x	1.33x	1.41x	6.55x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-5.18%	-14.44%	-60.87%	10.75%	-1.76%	-26.88%	13.96%	27.04%	10.21%	2.56%
Return on Invested Capital (ROIC)	-2.2%	-4.14%	-26.47%	-0.25%	-0.75%	-0.65%	6.54%	12.13%	6.11%	4.3%
Gross Margin	-14.22%	-58.73%	-14.87%	31.42%	30.66%	16.13%	43.6%	57.82%	43.19%	57.85%
Net Margin	-41.03%	-143.74%	-316.07%	29.77%	-4.77%	-79.06%	26.79%	41.06%	19.02%	5.59%
Debt / Equity	0.51x	0.57x	0.96x	0.85x	0.83x	0.98x	1.08x	1.36x	1.31x	1.26x
Interest Coverage	-3.03x	-4.02x	-18.18x	-0.12x	-0.33x	-0.35x	3.14x	5.20x	1.74x	1.31x
FCF Conversion	-0.37x	0.13x	-0.05x	1.19x	-4.73x	-0.13x	1.56x	1.33x	1.41x	6.55x
Revenue Growth	-10.17%	-27.55%	41.69%	39.71%	-2.41%	-23.1%	26.2%	35.37%	-9.61%	-12.93%

Frequently Asked Questions

Valuation & Price

Diana Shipping Inc. (DSX) has a price-to-earnings (P/E) ratio of 35.5x. This suggests investors expect higher future growth.

Growth & Financials

Diana Shipping Inc. (DSX) reported $218.6M in revenue for fiscal year 2024. This represents a 15% decrease from $256.8M in 2011.

Diana Shipping Inc. (DSX) saw revenue decline by 12.9% over the past year.

Yes, Diana Shipping Inc. (DSX) is profitable, generating $24.4M in net income for fiscal year 2024 (5.6% net margin).

Dividend & Returns

Yes, Diana Shipping Inc. (DSX) pays a dividend with a yield of 11.70%. This makes it attractive for income-focused investors.

Diana Shipping Inc. (DSX) has a return on equity (ROE) of 2.6%. This is below average, suggesting room for improvement.

Diana Shipping Inc. (DSX) generated $59.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.