The company maintains a manageable 0.94 debt-to-equity ratio as of 2026Q1, though the $1.1 billion in net PPE highlights a capital-intensive business model that requires constant fleet investment.
| Total Current Assets | 295.82M | 234.94M | 118.91M | 137.95M | 154.42M | 62.57M | 53.91M | 42.37M | 30.31M |
| Cash & Short-Term Investments | 125.57M | 116.64M | 49.34M | 49.99M | 81.35M | 38.18M | 25.33M | 13.4M | 18.08M |
| Cash Only | 125.57M | 116.64M | 49.34M | 49.99M | 81.35M | 38.18M | 25.33M | 13.4M | 18.08M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 86.51M | 85.09M | 40M | 57.45M | 50.19M | 8.78M | 21.85M | 20.16M | 8.64M |
| Days Sales Outstanding | 50.96 | 79.32 | 37.13 | 50.76 | 67.6 | 18.96 | 28.2 | 57.61 | 107.99 |
| Inventory | 24.35M | 17.27M | 24.34M | 25.35M | 17.01M | 12.63M | 5.77M | 6.55M | 2.69M |
| Days Inventory Outstanding | 37.22 | 37.73 | 52.38 | 48.28 | 42.01 | 37.07 | 16.2 | 31.98 | 43.13 |
| Other Current Assets | 59.38M | 9.48M | 677.5K | 3.27M | 5.87M | 1.94M | 964.42K | 0 | 0 |
| Total Non-Current Assets | 1.15B | 965.7M | 963.19M | 991.17M | 1.03B | 892.02M | 1.21B | 1.07B | 638.18M |
| Property, Plant & Equipment | 1.15B | 922.12M | 958.68M | 988.16M | 1.02B | 883.46M | 1.2B | 1.06B | 634.63M |
| Fixed Asset Turnover | 0.48x | 0.42x | 0.41x | 0.42x | 0.26x | 0.19x | 0.24x | 0.12x | 0.05x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 10.38M | 0 | 4.51M | 3.01M | 0 | 0 | 6.41M | 3.41M | 3M |
| Other Non-Current Assets | 5.01M | 43.58M | 0 | 0 | 4.51M | 8.56M | 0 | 751.5K | 552.19K |
| Total Assets | 1.45B | 1.2B | 1.08B | 1.13B | 1.18B | 954.59M | 1.26B | 1.11B | 668.5M |
| Asset Turnover | 0.40x | 0.33x | 0.36x | 0.37x | 0.23x | 0.18x | 0.22x | 0.11x | 0.04x |
| Asset Growth % | 39.05% | 10.96% | -4.16% | -4.58% | 23.96% | -24.22% | 13.4% | 66.17% | - |
| Total Current Liabilities | 173.89M | 68.87M | 72.67M | 105.62M | 92.85M | 61.5M | 102.1M | 85.41M | 34.33M |
| Accounts Payable | 21.6M | 13.75M | 19.48M | 23.52M | 11.77M | 15.96M | 17.7M | 13.95M | 6.84M |
| Days Payables Outstanding | 29.67 | 30.03 | 41.91 | 44.79 | 29.07 | 46.84 | 49.72 | 68.11 | 109.71 |
| Short-Term Debt | 136.87M | 46.47M | 47.22M | 77.95M | 70.8M | 42.21M | 75.26M | 49.03M | 22.09M |
| Deferred Revenue (Current) | 2.7M | 0 | 0 | 0 | 4.26M | 0 | 6.46M | 4.92M | 1.06M |
| Other Current Liabilities | 0 | 0 | 62.5K | 4.12M | 0 | 402.5K | 2.69M | 441.99K | 4.22M |
| Current Ratio | 1.70x | 3.41x | 1.64x | 1.31x | 1.66x | 1.02x | 0.53x | 0.50x | 0.88x |
| Quick Ratio | 1.56x | 3.16x | 1.30x | 1.07x | 1.48x | 0.81x | 0.47x | 0.42x | 0.80x |
| Cash Conversion Cycle | 58.51 | 87.02 | 47.59 | 54.25 | 80.54 | 9.19 | -5.32 | 21.49 | 41.41 |
| Total Non-Current Liabilities | 547.88M | 558.69M | 599M | 615.37M | 668.26M | 534.8M | 760.4M | 683.73M | 317.8M |
| Long-Term Debt | 546.22M | 558.63M | 598.96M | 615.33M | 668.24M | 534.78M | 759.22M | 683.68M | 317.8M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.66M | 61.63K | 44.8K | 32.69K | 23.94K | 17.29K | 1.18M | 53.07K | 0 |
| Total Liabilities | 721.76M | 627.55M | 671.67M | 720.98M | 761.11M | 596.3M | 862.5M | 769.14M | 352.13M |
| Total Debt | 683.09M | 605.1M | 646.18M | 693.28M | 739.04M | 577M | 834.48M | 732.71M | 339.89M |
| Net Debt | 557.52M | 488.46M | 596.83M | 643.29M | 657.69M | 538.81M | 809.15M | 719.31M | 321.81M |
| Debt / Equity | 0.94x | 1.06x | 1.57x | 1.70x | 1.75x | 1.61x | 2.10x | 2.14x | 1.07x |
| Debt / EBITDA | 2.43x | 2.97x | 3.17x | 2.87x | 4.99x | 8.16x | 4.56x | 10.41x | 29.17x |
| Net Debt / EBITDA | 1.98x | 2.39x | 2.92x | 2.66x | 4.44x | 7.62x | 4.42x | 10.22x | 27.62x |
| Interest Coverage | 7.30x | - | 3.04x | 3.43x | 3.14x | 0.72x | 3.75x | 1.35x | 0.51x |
| Total Equity | 725.29M | 573.09M | 410.43M | 408.13M | 422.24M | 358.29M | 397.23M | 341.69M | 316.37M |
| Equity Growth % | 119.2% | 39.63% | 0.56% | -3.34% | 17.85% | -9.8% | 16.25% | 8% | - |
| Book Value per Share | 19.01 | 17.59 | 12.75 | 12.68 | 13.11 | 11.07 | 12.24 | 10.59 | 14.89 |
| Total Shareholders' Equity | 725.29M | 573.09M | 410.43M | 408.13M | 422.24M | 358.29M | 397.23M | 341.69M | 316.37M |
| Common Stock | 39.74K | 36.13K | 32.89K | 32.89K | 32.89K | 32.89K | 32.89K | 32.89K | 31.31K |
| Retained Earnings | 480.58M | 452.78M | 400.51M | 291.65M | 146.4M | 61.84M | 65.96M | 8.37M | -3.02M |
| Treasury Stock | -4.58M | -4.58M | -4.58M | -4.58M | -4.58M | -3.57M | -3.07M | -1.01M | 0 |
| Accumulated OCI | -34.9K | -34.9K | -35.91K | -29.91K | -28.61K | -26.15K | -25.95K | -22.9K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Capital expenditure intensity
As reported in recent financial statements, ECO has successfully grown its equity base from $408.1 million in 2023Q4 to $725.3 million by 2026Q1, a trend that suggests the company is effectively leveraging strong operational cash flows to bolster its net asset position over time.
The consistent expansion of retained earnings indicates that the company is retaining a meaningful portion of its profits to strengthen the balance sheet despite its aggressive dividend policy. This trajectory suggests a maturing financial profile that may provide a greater buffer against the inherent volatility of the tanker shipping market.
Based on the provided balance sheet data, ECO's debt-to-equity ratio has fluctuated significantly, reaching 0.94 in 2026Q1, which suggests that management is actively managing its capital structure while navigating the high-cost environment associated with maintaining a modern, scrubber-fitted fleet of crude oil tankers.
While the debt load remains substantial at $683.1 million, the reduction in the D/E ratio from the 1.70 level seen in 2023Q4 implies a deliberate effort to deleverage as earnings have scaled. Investors should monitor whether this trend continues or if future fleet renewal requirements necessitate a return to higher leverage levels.
According to the company's balance sheet filings, net PPE has grown to $1.1 billion as of 2026Q1, confirming that the business model remains heavily asset-intensive with a primary focus on maintaining a high-specification, fuel-efficient fleet to capture the competitive scrubber-spread advantage in global markets.
The absence of goodwill on the balance sheet is a positive indicator of asset quality, suggesting that the company's valuation is backed by tangible, revenue-generating vessels rather than intangible premiums. This asset-heavy structure necessitates constant capital reinvestment to maintain the fleet's technical edge and regulatory compliance.
As indicated by the 1.70 current ratio reported in 2026Q1, ECO maintains a liquidity position that appears adequate to cover short-term obligations, though the cash balance of $125.6 million warrants ongoing scrutiny given the lumpy nature of dry-docking expenditures and cyclical revenue patterns.
The improvement in liquidity from the 1.31 ratio observed in 2023Q4 suggests a more conservative approach to managing working capital during periods of high spot rate volatility. This liquidity buffer is essential for navigating the potential for sudden, unplanned maintenance costs or shifts in global trade route demand.
Quick answers to the most common questions about buying ECO stock.
As of 2025, Okeanis Eco Tankers Corp. (ECO) had total assets of $1.20B including $234.9M in current assets.
Okeanis Eco Tankers Corp. (ECO) carries total debt of $605.1M, offset by $116.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Okeanis Eco Tankers Corp. (ECO) has total shareholders' equity (book value) of $573.1M ($17.59 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Okeanis Eco Tankers Corp. (ECO) reported a current ratio of 3.41x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.