Euroseas Ltd. (ESEA) 10-Year Financial Performance & Capital Metrics

ESEA • • Industrial / General

IndustrialsMarine ShippingContainer ShippingContainer Ship Operators

AboutEuroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of May 03, 2022, it had a fleet of 18 vessels, including 10 feeder and 8 intermediate containerships with a cargo capacity of approximately 58,871 twenty-foot equivalent unit (teu). The company was incorporated in 2005 and is based in Marousi, Greece.Show more

Revenue $213M +12.4%
EBITDA $146M +2.9%
Net Income $113M -1.5%
EPS (Diluted) 16.20 -1.9%
Gross Margin 59.81% -5.5%
EBITDA Margin 68.76% -8.5%
Operating Margin 56.37% -10.6%
Net Margin 52.97% -12.4%
ROE 35.83% -32.0%
ROIC 21.62% -29.1%
Debt/Equity 0.57 +16.0%
Interest Coverage 11.30 -39.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 58.4%
✓Strong 5Y sales CAGR of 39.7%
✓Healthy dividend yield of 4.4%
✓Healthy 5Y average net margin of 45.0%
✓Trading at only 1.1x book value

✗Weaknesses

✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y18.01%

5Y39.69%

3Y31.38%

TTM7.26%

Profit (Net Income) CAGR

10Y-

5Y-

3Y37.94%

TTM6.86%

EPS CAGR

10Y-

5Y-

3Y38.79%

TTM6.78%

ROCE

10Y Avg14.24%

5Y Avg31.49%

3Y Avg37.67%

Latest26.45%

Peer Comparison

Container Ship Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MATXMatson, Inc.	4.55B	145.97	10.48	10.57%	12.7%	15.98%	10.06%	0.28
CMRECostamare Inc.	1.95B	16.18	6.63	37.88%	17.4%	15.08%	13.2%	0.92
EHLDEuroholdings Ltd.	19.49M	6.92	5.16	112.37%	122.75%	81.86%	24.39%
DACDanaos Corporation	1.86B	101.42	3.89	4.16%	45.16%	12.59%		0.21
GSLGlobal Ship Lease, Inc.	1.29B	36.11	3.72	5.82%	54.16%	23.67%	14.53%	0.47
ESEAEuroseas Ltd.	386.41M	55.15	3.40	12.43%	54.01%	28.23%		0.57
ZIMZIM Integrated Shipping Services Ltd.	2.73B	22.70	1.27	63.25%	13.21%	24.94%	100%	1.49

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	37.68M	20.55M	23.76M	34.42M	40.02M	53.3M	93.89M	182.69M	189.36M	212.9M
Revenue Growth %	-0.07%	-0.45%	0.16%	0.45%	0.16%	0.33%	0.76%	0.95%	0.04%	0.12%
Cost of Goods Sold+	40.42M	22.23M	20.74M	27.33M	31.93M	40.7M	41.66M	68.17M	69.5M	85.57M
COGS % of Revenue	1.07%	1.08%	0.87%	0.79%	0.8%	0.76%	0.44%	0.37%	0.37%	0.4%
Gross Profit+	-2.74M	-1.68M	3.02M	7.1M	8.09M	12.61M	52.23M	114.52M	119.86M	127.33M
Gross Margin %	-0.07%	-0.08%	0.13%	0.21%	0.2%	0.24%	0.56%	0.63%	0.63%	0.6%
Gross Profit Growth %	-0.01%	0.39%	2.79%	1.35%	0.14%	0.56%	3.14%	1.19%	0.05%	0.06%
Operating Expenses+	8.66M	10.99M	8.43M	4.76M	6.12M	3.31M	6.5M	7.88M	428.72K	7.31M
OpEx % of Revenue	0.23%	0.53%	0.35%	0.14%	0.15%	0.06%	0.07%	0.04%	0%	0.03%
Selling, General & Admin	7.48M	5.07M	5.13M	6.1M	6.12M	8.33M	7.79M	4.57M	4.74M	5.94M
SG&A % of Revenue	0.2%	0.25%	0.22%	0.18%	0.15%	0.16%	0.08%	0.03%	0.03%	0.03%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.18M	5.91M	3.29M	-1.34M	0	-5.02M	-1.29M	3.31M	-4.32M	1.37M
Operating Income+	-11.4M	-12.67M	-5.41M	2.34M	1.98M	9.29M	45.73M	106.64M	119.43M	120.02M
Operating Margin %	-0.3%	-0.62%	-0.23%	0.07%	0.05%	0.17%	0.49%	0.58%	0.63%	0.56%
Operating Income Growth %	0.22%	-0.11%	0.57%	1.43%	-0.15%	3.7%	3.92%	1.33%	0.12%	0%
EBITDA+	-408.37K	-7.71M	-1.82M	5.64M	6.15M	15.9M	52.94M	125.16M	142.27M	146.38M
EBITDA Margin %	-0.01%	-0.38%	-0.08%	0.16%	0.15%	0.3%	0.56%	0.69%	0.75%	0.69%
EBITDA Growth %	0.84%	-17.88%	0.76%	4.09%	0.09%	1.58%	2.33%	1.36%	0.14%	0.03%
D&A (Non-Cash Add-back)	11M	4.96M	3.59M	3.31M	4.18M	6.61M	7.2M	18.52M	22.84M	26.37M
EBIT	-12.56M	-32.71M	-5.39M	2.39M	1.74M	8.17M	45.74M	111.32M	120.98M	123.4M
Net Interest Income+	-1.46M	-1.35M	-1.52M	-2.97M	-3.33M	-4.11M	-2.78M	-4.81M	-5.03M	-8.26M
Interest Income	26.66K	22.33K	37.97K	81.79K	95.84K	17.01K	3.51K	267.43K	1.4M	2.36M
Interest Expense	1.49M	2.53M	1.55M	3.05M	3.42M	4.13M	2.78M	5.07M	6.43M	10.62M
Other Income/Expense	-2.64M	-21.41M	-1.53M	-3M	-3.66M	-5.25M	-2.77M	-395.3K	-4.88M	-7.24M
Pretax Income+	-14.05M	-34.08M	-6.94M	-663.4K	-1.68M	4.04M	42.96M	106.24M	114.55M	112.78M
Pretax Margin %	-0.37%	-1.66%	-0.29%	-0.02%	-0.04%	0.08%	0.46%	0.58%	0.6%	0.53%
Income Tax+	0	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	1%	1.3%	0.88%	0.16%	1%	1%	1%	1%	1%	1%
Net Income+	-14.05M	-44.22M	-6.09M	-108.89K	-1.68M	4.04M	42.96M	106.24M	114.55M	112.78M
Net Margin %	-0.37%	-2.15%	-0.26%	-0%	-0.04%	0.08%	0.46%	0.58%	0.6%	0.53%
Net Income Growth %	0.22%	-2.15%	0.86%	0.98%	-14.45%	3.4%	9.63%	1.47%	0.08%	-0.02%
Net Income (Continuing)	-14.05M	-34.08M	-6.94M	-663.4K	-1.68M	4.04M	42.96M	106.24M	114.55M	112.78M
Discontinued Operations	0	0	849.7K	554.51K	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-17.09	-43.32	-4.41	-0.08	-1.78	-0.01	6.06	14.78	16.52	16.20
EPS Growth %	0.35%	-1.53%	0.9%	0.98%	-22.12%	0.99%	418.93%	1.44%	0.12%	-0.02%
EPS (Basic)	-17.09	-43.32	-4.41	-0.08	-1.78	-0.01	6.07	14.79	16.53	16.20
Diluted Shares Outstanding	801.35K	1.02M	1.38M	1.41M	2.86M	5.75M	6.99M	7.19M	6.94M	6.96M
Basic Shares Outstanding	801.35K	1.02M	1.38M	1.41M	2.86M	5.75M	6.98M	7.18M	6.93M	6.96M
Dividend Payout Ratio	-	-	-	-	-	-	-	0.1%	0.12%	0.15%

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+	21.58M	10.44M	16.08M	11.99M	6.3M	9.69M	32.81M	46.87M	65.97M	84.71M
Cash & Short-Term Investments	8.72M	3.21M	4.12M	6.96M	985.42K	3.56M	26.53M	25.85M	58.61M	73.74M
Cash Only	8.72M	3.21M	4.12M	6.96M	985.42K	3.56M	26.53M	25.85M	58.61M	73.74M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	2.64M	2.3M	1.85M	2.99M	2.29M	3.88M	3M	6.12M	4.31M	5.33M
Days Sales Outstanding	25.57	40.91	28.43	31.7	20.84	26.57	11.65	12.23	8.32	9.13
Inventory	1.46M	1.29M	1.65M	1.7M	1.89M	1.66M	2.19M	2.31M	2.54M	3.19M
Days Inventory Outstanding	13.23	21.2	28.95	22.76	21.59	14.91	19.15	12.35	13.33	13.61
Other Current Assets	8.59M	3.47M	9.93M	117.06K	610.38K	345.01K	540.75K	10.05M	2.99K	1.89M
Total Non-Current Assets+	151.17M	133.25M	146.25M	54.96M	120.56M	100.89M	188.7M	281.72M	358.7M	506.51M
Property, Plant & Equipment	121.66M	123.34M	139.16M	48.83M	116.23M	98.46M	183.9M	275.65M	267.63M	443.39M
Fixed Asset Turnover	0.31x	0.17x	0.17x	0.71x	0.34x	0.54x	0.51x	0.66x	0.71x	0.48x
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	24.26M	4M	4.33M	6.13M	4.33M	2.43M	4.8M	6.07M	0	6.2M
Other Non-Current Assets	5.25M	5.91M	2.75M	0	0	0	0	0	91.08M	56.92M
Total Assets+	172.76M	143.69M	162.33M	66.95M	126.86M	110.58M	221.51M	328.59M	424.67M	591.22M
Asset Turnover	0.22x	0.14x	0.15x	0.51x	0.32x	0.48x	0.42x	0.56x	0.45x	0.36x
Asset Growth %	-0.09%	-0.17%	0.13%	-0.59%	0.89%	-0.13%	1%	0.48%	0.29%	0.39%
Total Current Liabilities+	19.37M	11.17M	18.53M	11.59M	24.85M	28.65M	37.15M	73.69M	51.19M	57.17M
Accounts Payable	1.39M	1.86M	1.52M	2.29M	3.9M	2.85M	2.8M	5.16M	5.75M	5.74M
Days Payables Outstanding	12.59	30.61	26.79	30.57	44.58	25.6	24.57	27.63	30.18	24.47
Short-Term Debt	14.81M	7.55M	12.17M	4.87M	17.3M	23.15M	29.03M	55.42M	30.84M	36.93M
Deferred Revenue (Current)	462.12K	437.32K	879.92K	417.63K	973.77K	949.36K	1000K	1000K	1000K	0
Other Current Liabilities	2.25M	1.09M	3.8M	3.92M	2.45M	1.36M	1.1M	5.16M	2.84M	10.02M
Current Ratio	1.11x	0.93x	0.87x	1.03x	0.25x	0.34x	0.88x	0.64x	1.29x	1.48x
Quick Ratio	1.04x	0.82x	0.78x	0.89x	0.18x	0.28x	0.82x	0.60x	1.24x	1.43x
Cash Conversion Cycle	26.2	31.5	30.59	23.9	-2.14	15.88	6.23	-3.05	-8.53	-1.72
Total Non-Current Liabilities+	25.91M	44.61M	61.49M	32.78M	73.9M	46.58M	107.59M	86.75M	106.91M	171.1M
Long-Term Debt	25.71M	44.37M	29.83M	31.72M	72.19M	46.22M	89M	51.81M	99.16M	168.47M
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	44.36K	240.18K	31.66M	1.07M	1.71M	362.19K	18.59M	34.93M	7.75M	2.63M
Total Liabilities	45.28M	55.78M	80.02M	44.38M	98.75M	75.23M	144.74M	160.44M	158.1M	228.27M
Total Debt+	40.52M	51.92M	72.35M	36.59M	89.48M	69.37M	118.04M	107.23M	130M	205.4M
Net Debt	31.81M	48.71M	68.23M	29.63M	88.5M	65.81M	91.51M	81.39M	71.39M	131.66M
Debt / Equity	0.32x	0.59x	0.88x	1.62x	3.18x	1.96x	1.54x	0.64x	0.49x	0.57x
Debt / EBITDA	-	-	-	6.48x	14.54x	4.36x	2.23x	0.86x	0.91x	1.40x
Net Debt / EBITDA	-	-	-	5.25x	14.38x	4.14x	1.73x	0.65x	0.50x	0.90x
Interest Coverage	-7.67x	-5.00x	-3.48x	0.77x	0.58x	2.25x	16.45x	21.02x	18.57x	11.30x
Total Equity+	127.48M	87.91M	82.31M	22.58M	28.11M	35.36M	76.77M	168.16M	266.58M	362.95M
Equity Growth %	-0.02%	-0.31%	-0.06%	-0.73%	0.24%	0.26%	1.17%	1.19%	0.59%	0.36%
Book Value per Share	159.08	86.13	59.50	15.96	9.82	6.14	10.98	23.39	38.43	52.14
Total Shareholders' Equity	127.48M	87.91M	82.31M	22.58M	28.11M	35.36M	76.77M	168.16M	266.58M	362.95M
Common Stock	245.87K	326.28K	338.23K	375.48K	168.01K	201.27K	218.84K	213.49K	210.43K	211.47K
Retained Earnings	-183.68M	-229.98M	-237.88M	-230.22M	-233.68M	-230.33M	-188.06M	-92.6M	7.93M	103.85M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-35.79M	-33.79M	-30.21M	-12.45M	0	0	0	0	0	0
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+	-1.74M	-832.24K	-832.24K	-1.47M	3.14M	2.43M	52.63M	114.08M	130.01M	128.17M
Operating CF Margin %	-0.05%	-0.04%	-0.04%	-0.04%	0.08%	0.05%	0.56%	0.62%	0.69%	0.6%
Operating CF Growth %	-1.38%	0.52%	0%	-0.77%	3.13%	-0.23%	20.66%	1.17%	0.14%	-0.01%
Net Income	-13.7M	-44.22M	-44.22M	-663.4K	-1.68M	4.04M	42.88M	106.24M	114.55M	112.78M
Depreciation & Amortization	11M	8.79M	8.79M	3.31M	4.18M	6.61M	7.2M	18.52M	22.84M	21.95M
Stock-Based Compensation	306.11K	294.34K	294.34K	124.49K	97.92K	121.63K	182.32K	951.38K	1.08M	1.52M
Deferred Taxes	2.96M	32.86M	32.86M	-1.22M	286.86K	-1.28M	-144.42K	0	0	0
Other Non-Cash Items	-1.06M	613.33K	613.33K	465.51K	-557.14K	-4.11M	-8.9K	-14.71M	-14.17M	-6.3M
Working Capital Changes	-1.24M	829.33K	829.33K	-3.48M	816.58K	-2.95M	2.52M	3.07M	5.71M	-1.78M
Change in Receivables	781.71K	-23.84K	-47.17K	-73.21K	243.61K	-1.3M	738.29K	701.77K	1.81M	-1.01M
Change in Inventory	293.99K	245.08K	145.17K	-511.37K	-184.77K	226.74K	-612.03K	-31.72K	178.14K	-652.8K
Change in Payables	-1.26M	588.42K	235.41K	766.05K	1.54M	-1.01M	-740.66K	2.01M	-1.08M	779.25K
Cash from Investing+	-11.02M	-18.81M	-23.13M	6.25M	-55.72M	16.3M	-74.11M	-87.13M	-102.19M	-168.77M
Capital Expenditures	-17.01M	-27.33M	-27.33M	-1.87K	-55.72M	-667.07K	-74.11M	-90.69M	-112.29M	-178.92M
CapEx % of Revenue	0.45%	1.33%	1.15%	0%	1.39%	0.01%	0.79%	0.5%	0.59%	0.84%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.99M	8.52M	196.27K	6.26M	0	2.34M	0	3.56M	10.1M	10.15M
Cash from Financing+	-3.94M	14.13M	14.13M	135.4K	45.3M	-18.32M	46.65M	-27.01M	5.06M	56.96M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-1.03M	-320.88K	-424K	-10.8M	-13.98M	-16.84M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-843.27K	13.75M	-804.92K	-3.74M	-566.5K	0	-758K	-27.63K	-833.9K	-1.4M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-18.75M	-28.16M	-28.16M	-1.48M	-52.58M	1.76M	-21.49M	23.39M	17.71M	-50.76M
FCF Margin %	-0.5%	-1.37%	-1.19%	-0.04%	-1.31%	0.03%	-0.23%	0.13%	0.09%	-0.24%
FCF Growth %	0.5%	-0.5%	0%	0.95%	-34.61%	1.03%	-13.19%	2.09%	-0.24%	-3.87%
FCF per Share	-23.40	-27.59	-20.36	-1.04	-18.37	0.31	-3.07	3.25	2.55	-7.29
FCF Conversion (FCF/Net Income)	0.12x	0.02x	0.14x	13.54x	-1.87x	0.60x	1.22x	1.07x	1.13x	1.14x
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)	-10.88%	-41.06%	-7.16%	-0.21%	-6.64%	12.74%	76.63%	86.76%	52.7%	35.83%
Return on Invested Capital (ROIC)	-5.37%	-6.42%	-2.83%	1.73%	1.76%	6.4%	25.46%	38.28%	30.49%	21.62%
Gross Margin	-7.28%	-8.18%	12.7%	20.61%	20.22%	23.65%	55.63%	62.68%	63.3%	59.81%
Net Margin	-37.28%	-215.24%	-25.65%	-0.32%	-4.2%	7.58%	45.76%	58.15%	60.49%	52.97%
Debt / Equity	0.32x	0.59x	0.88x	1.62x	3.18x	1.96x	1.54x	0.64x	0.49x	0.57x
Interest Coverage	-7.67x	-5.00x	-3.48x	0.77x	0.58x	2.25x	16.45x	21.02x	18.57x	11.30x
FCF Conversion	0.12x	0.02x	0.14x	13.54x	-1.87x	0.60x	1.22x	1.07x	1.13x	1.14x
Revenue Growth	-7.27%	-45.47%	15.64%	44.89%	16.26%	33.18%	76.15%	94.58%	3.65%	12.43%

Frequently Asked Questions

Valuation & Price

Euroseas Ltd. (ESEA) has a price-to-earnings (P/E) ratio of 3.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Euroseas Ltd. (ESEA) reported $223.8M in revenue for fiscal year 2024. This represents a 265% increase from $61.4M in 2011.

Euroseas Ltd. (ESEA) grew revenue by 12.4% over the past year. This is steady growth.

Yes, Euroseas Ltd. (ESEA) is profitable, generating $120.9M in net income for fiscal year 2024 (53.0% net margin).

Dividend & Returns

Yes, Euroseas Ltd. (ESEA) pays a dividend with a yield of 4.39%. This makes it attractive for income-focused investors.

Euroseas Ltd. (ESEA) has a return on equity (ROE) of 35.8%. This is excellent, indicating efficient use of shareholder capital.

Euroseas Ltd. (ESEA) generated $40.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Euroseas Ltd. (ESEA) 10-Year Financial Performance & Capital Metrics

ESEA • • Industrial / General

IndustrialsMarine ShippingContainer ShippingContainer Ship Operators

Revenue $213M +12.4%
EBITDA $146M +2.9%
Net Income $113M -1.5%
EPS (Diluted) 16.20 -1.9%
Gross Margin 59.81% -5.5%
EBITDA Margin 68.76% -8.5%
Operating Margin 56.37% -10.6%
Net Margin 52.97% -12.4%
ROE 35.83% -32.0%
ROIC 21.62% -29.1%
Debt/Equity 0.57 +16.0%
Interest Coverage 11.30 -39.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 58.4%
✓Strong 5Y sales CAGR of 39.7%
✓Healthy dividend yield of 4.4%
✓Healthy 5Y average net margin of 45.0%
✓Trading at only 1.1x book value

✗Weaknesses

✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y18.01%

5Y39.69%

3Y31.38%

TTM7.26%

Profit (Net Income) CAGR

10Y-

5Y-

3Y37.94%

TTM6.86%

EPS CAGR

10Y-

5Y-

3Y38.79%

TTM6.78%

ROCE

10Y Avg14.24%

5Y Avg31.49%

3Y Avg37.67%

Latest26.45%

Peer Comparison

Container Ship Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MATXMatson, Inc.	4.55B	145.97	10.48	10.57%	12.7%	15.98%	10.06%	0.28
CMRECostamare Inc.	1.95B	16.18	6.63	37.88%	17.4%	15.08%	13.2%	0.92
EHLDEuroholdings Ltd.	19.49M	6.92	5.16	112.37%	122.75%	81.86%	24.39%
DACDanaos Corporation	1.86B	101.42	3.89	4.16%	45.16%	12.59%		0.21
GSLGlobal Ship Lease, Inc.	1.29B	36.11	3.72	5.82%	54.16%	23.67%	14.53%	0.47
ESEAEuroseas Ltd.	386.41M	55.15	3.40	12.43%	54.01%	28.23%		0.57
ZIMZIM Integrated Shipping Services Ltd.	2.73B	22.70	1.27	63.25%	13.21%	24.94%	100%	1.49

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	37.68M	20.55M	23.76M	34.42M	40.02M	53.3M	93.89M	182.69M	189.36M	212.9M
Revenue Growth %	-0.07%	-0.45%	0.16%	0.45%	0.16%	0.33%	0.76%	0.95%	0.04%	0.12%
Cost of Goods Sold+	40.42M	22.23M	20.74M	27.33M	31.93M	40.7M	41.66M	68.17M	69.5M	85.57M
COGS % of Revenue	1.07%	1.08%	0.87%	0.79%	0.8%	0.76%	0.44%	0.37%	0.37%	0.4%
Gross Profit+	-2.74M	-1.68M	3.02M	7.1M	8.09M	12.61M	52.23M	114.52M	119.86M	127.33M
Gross Margin %	-0.07%	-0.08%	0.13%	0.21%	0.2%	0.24%	0.56%	0.63%	0.63%	0.6%
Gross Profit Growth %	-0.01%	0.39%	2.79%	1.35%	0.14%	0.56%	3.14%	1.19%	0.05%	0.06%
Operating Expenses+	8.66M	10.99M	8.43M	4.76M	6.12M	3.31M	6.5M	7.88M	428.72K	7.31M
OpEx % of Revenue	0.23%	0.53%	0.35%	0.14%	0.15%	0.06%	0.07%	0.04%	0%	0.03%
Selling, General & Admin	7.48M	5.07M	5.13M	6.1M	6.12M	8.33M	7.79M	4.57M	4.74M	5.94M
SG&A % of Revenue	0.2%	0.25%	0.22%	0.18%	0.15%	0.16%	0.08%	0.03%	0.03%	0.03%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.18M	5.91M	3.29M	-1.34M	0	-5.02M	-1.29M	3.31M	-4.32M	1.37M
Operating Income+	-11.4M	-12.67M	-5.41M	2.34M	1.98M	9.29M	45.73M	106.64M	119.43M	120.02M
Operating Margin %	-0.3%	-0.62%	-0.23%	0.07%	0.05%	0.17%	0.49%	0.58%	0.63%	0.56%
Operating Income Growth %	0.22%	-0.11%	0.57%	1.43%	-0.15%	3.7%	3.92%	1.33%	0.12%	0%
EBITDA+	-408.37K	-7.71M	-1.82M	5.64M	6.15M	15.9M	52.94M	125.16M	142.27M	146.38M
EBITDA Margin %	-0.01%	-0.38%	-0.08%	0.16%	0.15%	0.3%	0.56%	0.69%	0.75%	0.69%
EBITDA Growth %	0.84%	-17.88%	0.76%	4.09%	0.09%	1.58%	2.33%	1.36%	0.14%	0.03%
D&A (Non-Cash Add-back)	11M	4.96M	3.59M	3.31M	4.18M	6.61M	7.2M	18.52M	22.84M	26.37M
EBIT	-12.56M	-32.71M	-5.39M	2.39M	1.74M	8.17M	45.74M	111.32M	120.98M	123.4M
Net Interest Income+	-1.46M	-1.35M	-1.52M	-2.97M	-3.33M	-4.11M	-2.78M	-4.81M	-5.03M	-8.26M
Interest Income	26.66K	22.33K	37.97K	81.79K	95.84K	17.01K	3.51K	267.43K	1.4M	2.36M
Interest Expense	1.49M	2.53M	1.55M	3.05M	3.42M	4.13M	2.78M	5.07M	6.43M	10.62M
Other Income/Expense	-2.64M	-21.41M	-1.53M	-3M	-3.66M	-5.25M	-2.77M	-395.3K	-4.88M	-7.24M
Pretax Income+	-14.05M	-34.08M	-6.94M	-663.4K	-1.68M	4.04M	42.96M	106.24M	114.55M	112.78M
Pretax Margin %	-0.37%	-1.66%	-0.29%	-0.02%	-0.04%	0.08%	0.46%	0.58%	0.6%	0.53%
Income Tax+	0	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	1%	1.3%	0.88%	0.16%	1%	1%	1%	1%	1%	1%
Net Income+	-14.05M	-44.22M	-6.09M	-108.89K	-1.68M	4.04M	42.96M	106.24M	114.55M	112.78M
Net Margin %	-0.37%	-2.15%	-0.26%	-0%	-0.04%	0.08%	0.46%	0.58%	0.6%	0.53%
Net Income Growth %	0.22%	-2.15%	0.86%	0.98%	-14.45%	3.4%	9.63%	1.47%	0.08%	-0.02%
Net Income (Continuing)	-14.05M	-34.08M	-6.94M	-663.4K	-1.68M	4.04M	42.96M	106.24M	114.55M	112.78M
Discontinued Operations	0	0	849.7K	554.51K	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-17.09	-43.32	-4.41	-0.08	-1.78	-0.01	6.06	14.78	16.52	16.20
EPS Growth %	0.35%	-1.53%	0.9%	0.98%	-22.12%	0.99%	418.93%	1.44%	0.12%	-0.02%
EPS (Basic)	-17.09	-43.32	-4.41	-0.08	-1.78	-0.01	6.07	14.79	16.53	16.20
Diluted Shares Outstanding	801.35K	1.02M	1.38M	1.41M	2.86M	5.75M	6.99M	7.19M	6.94M	6.96M
Basic Shares Outstanding	801.35K	1.02M	1.38M	1.41M	2.86M	5.75M	6.98M	7.18M	6.93M	6.96M
Dividend Payout Ratio	-	-	-	-	-	-	-	0.1%	0.12%	0.15%

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+	21.58M	10.44M	16.08M	11.99M	6.3M	9.69M	32.81M	46.87M	65.97M	84.71M
Cash & Short-Term Investments	8.72M	3.21M	4.12M	6.96M	985.42K	3.56M	26.53M	25.85M	58.61M	73.74M
Cash Only	8.72M	3.21M	4.12M	6.96M	985.42K	3.56M	26.53M	25.85M	58.61M	73.74M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	2.64M	2.3M	1.85M	2.99M	2.29M	3.88M	3M	6.12M	4.31M	5.33M
Days Sales Outstanding	25.57	40.91	28.43	31.7	20.84	26.57	11.65	12.23	8.32	9.13
Inventory	1.46M	1.29M	1.65M	1.7M	1.89M	1.66M	2.19M	2.31M	2.54M	3.19M
Days Inventory Outstanding	13.23	21.2	28.95	22.76	21.59	14.91	19.15	12.35	13.33	13.61
Other Current Assets	8.59M	3.47M	9.93M	117.06K	610.38K	345.01K	540.75K	10.05M	2.99K	1.89M
Total Non-Current Assets+	151.17M	133.25M	146.25M	54.96M	120.56M	100.89M	188.7M	281.72M	358.7M	506.51M
Property, Plant & Equipment	121.66M	123.34M	139.16M	48.83M	116.23M	98.46M	183.9M	275.65M	267.63M	443.39M
Fixed Asset Turnover	0.31x	0.17x	0.17x	0.71x	0.34x	0.54x	0.51x	0.66x	0.71x	0.48x
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	24.26M	4M	4.33M	6.13M	4.33M	2.43M	4.8M	6.07M	0	6.2M
Other Non-Current Assets	5.25M	5.91M	2.75M	0	0	0	0	0	91.08M	56.92M
Total Assets+	172.76M	143.69M	162.33M	66.95M	126.86M	110.58M	221.51M	328.59M	424.67M	591.22M
Asset Turnover	0.22x	0.14x	0.15x	0.51x	0.32x	0.48x	0.42x	0.56x	0.45x	0.36x
Asset Growth %	-0.09%	-0.17%	0.13%	-0.59%	0.89%	-0.13%	1%	0.48%	0.29%	0.39%
Total Current Liabilities+	19.37M	11.17M	18.53M	11.59M	24.85M	28.65M	37.15M	73.69M	51.19M	57.17M
Accounts Payable	1.39M	1.86M	1.52M	2.29M	3.9M	2.85M	2.8M	5.16M	5.75M	5.74M
Days Payables Outstanding	12.59	30.61	26.79	30.57	44.58	25.6	24.57	27.63	30.18	24.47
Short-Term Debt	14.81M	7.55M	12.17M	4.87M	17.3M	23.15M	29.03M	55.42M	30.84M	36.93M
Deferred Revenue (Current)	462.12K	437.32K	879.92K	417.63K	973.77K	949.36K	1000K	1000K	1000K	0
Other Current Liabilities	2.25M	1.09M	3.8M	3.92M	2.45M	1.36M	1.1M	5.16M	2.84M	10.02M
Current Ratio	1.11x	0.93x	0.87x	1.03x	0.25x	0.34x	0.88x	0.64x	1.29x	1.48x
Quick Ratio	1.04x	0.82x	0.78x	0.89x	0.18x	0.28x	0.82x	0.60x	1.24x	1.43x
Cash Conversion Cycle	26.2	31.5	30.59	23.9	-2.14	15.88	6.23	-3.05	-8.53	-1.72
Total Non-Current Liabilities+	25.91M	44.61M	61.49M	32.78M	73.9M	46.58M	107.59M	86.75M	106.91M	171.1M
Long-Term Debt	25.71M	44.37M	29.83M	31.72M	72.19M	46.22M	89M	51.81M	99.16M	168.47M
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	44.36K	240.18K	31.66M	1.07M	1.71M	362.19K	18.59M	34.93M	7.75M	2.63M
Total Liabilities	45.28M	55.78M	80.02M	44.38M	98.75M	75.23M	144.74M	160.44M	158.1M	228.27M
Total Debt+	40.52M	51.92M	72.35M	36.59M	89.48M	69.37M	118.04M	107.23M	130M	205.4M
Net Debt	31.81M	48.71M	68.23M	29.63M	88.5M	65.81M	91.51M	81.39M	71.39M	131.66M
Debt / Equity	0.32x	0.59x	0.88x	1.62x	3.18x	1.96x	1.54x	0.64x	0.49x	0.57x
Debt / EBITDA	-	-	-	6.48x	14.54x	4.36x	2.23x	0.86x	0.91x	1.40x
Net Debt / EBITDA	-	-	-	5.25x	14.38x	4.14x	1.73x	0.65x	0.50x	0.90x
Interest Coverage	-7.67x	-5.00x	-3.48x	0.77x	0.58x	2.25x	16.45x	21.02x	18.57x	11.30x
Total Equity+	127.48M	87.91M	82.31M	22.58M	28.11M	35.36M	76.77M	168.16M	266.58M	362.95M
Equity Growth %	-0.02%	-0.31%	-0.06%	-0.73%	0.24%	0.26%	1.17%	1.19%	0.59%	0.36%
Book Value per Share	159.08	86.13	59.50	15.96	9.82	6.14	10.98	23.39	38.43	52.14
Total Shareholders' Equity	127.48M	87.91M	82.31M	22.58M	28.11M	35.36M	76.77M	168.16M	266.58M	362.95M
Common Stock	245.87K	326.28K	338.23K	375.48K	168.01K	201.27K	218.84K	213.49K	210.43K	211.47K
Retained Earnings	-183.68M	-229.98M	-237.88M	-230.22M	-233.68M	-230.33M	-188.06M	-92.6M	7.93M	103.85M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-35.79M	-33.79M	-30.21M	-12.45M	0	0	0	0	0	0
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+	-1.74M	-832.24K	-832.24K	-1.47M	3.14M	2.43M	52.63M	114.08M	130.01M	128.17M
Operating CF Margin %	-0.05%	-0.04%	-0.04%	-0.04%	0.08%	0.05%	0.56%	0.62%	0.69%	0.6%
Operating CF Growth %	-1.38%	0.52%	0%	-0.77%	3.13%	-0.23%	20.66%	1.17%	0.14%	-0.01%
Net Income	-13.7M	-44.22M	-44.22M	-663.4K	-1.68M	4.04M	42.88M	106.24M	114.55M	112.78M
Depreciation & Amortization	11M	8.79M	8.79M	3.31M	4.18M	6.61M	7.2M	18.52M	22.84M	21.95M
Stock-Based Compensation	306.11K	294.34K	294.34K	124.49K	97.92K	121.63K	182.32K	951.38K	1.08M	1.52M
Deferred Taxes	2.96M	32.86M	32.86M	-1.22M	286.86K	-1.28M	-144.42K	0	0	0
Other Non-Cash Items	-1.06M	613.33K	613.33K	465.51K	-557.14K	-4.11M	-8.9K	-14.71M	-14.17M	-6.3M
Working Capital Changes	-1.24M	829.33K	829.33K	-3.48M	816.58K	-2.95M	2.52M	3.07M	5.71M	-1.78M
Change in Receivables	781.71K	-23.84K	-47.17K	-73.21K	243.61K	-1.3M	738.29K	701.77K	1.81M	-1.01M
Change in Inventory	293.99K	245.08K	145.17K	-511.37K	-184.77K	226.74K	-612.03K	-31.72K	178.14K	-652.8K
Change in Payables	-1.26M	588.42K	235.41K	766.05K	1.54M	-1.01M	-740.66K	2.01M	-1.08M	779.25K
Cash from Investing+	-11.02M	-18.81M	-23.13M	6.25M	-55.72M	16.3M	-74.11M	-87.13M	-102.19M	-168.77M
Capital Expenditures	-17.01M	-27.33M	-27.33M	-1.87K	-55.72M	-667.07K	-74.11M	-90.69M	-112.29M	-178.92M
CapEx % of Revenue	0.45%	1.33%	1.15%	0%	1.39%	0.01%	0.79%	0.5%	0.59%	0.84%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.99M	8.52M	196.27K	6.26M	0	2.34M	0	3.56M	10.1M	10.15M
Cash from Financing+	-3.94M	14.13M	14.13M	135.4K	45.3M	-18.32M	46.65M	-27.01M	5.06M	56.96M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-1.03M	-320.88K	-424K	-10.8M	-13.98M	-16.84M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-843.27K	13.75M	-804.92K	-3.74M	-566.5K	0	-758K	-27.63K	-833.9K	-1.4M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-18.75M	-28.16M	-28.16M	-1.48M	-52.58M	1.76M	-21.49M	23.39M	17.71M	-50.76M
FCF Margin %	-0.5%	-1.37%	-1.19%	-0.04%	-1.31%	0.03%	-0.23%	0.13%	0.09%	-0.24%
FCF Growth %	0.5%	-0.5%	0%	0.95%	-34.61%	1.03%	-13.19%	2.09%	-0.24%	-3.87%
FCF per Share	-23.40	-27.59	-20.36	-1.04	-18.37	0.31	-3.07	3.25	2.55	-7.29
FCF Conversion (FCF/Net Income)	0.12x	0.02x	0.14x	13.54x	-1.87x	0.60x	1.22x	1.07x	1.13x	1.14x
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)	-10.88%	-41.06%	-7.16%	-0.21%	-6.64%	12.74%	76.63%	86.76%	52.7%	35.83%
Return on Invested Capital (ROIC)	-5.37%	-6.42%	-2.83%	1.73%	1.76%	6.4%	25.46%	38.28%	30.49%	21.62%
Gross Margin	-7.28%	-8.18%	12.7%	20.61%	20.22%	23.65%	55.63%	62.68%	63.3%	59.81%
Net Margin	-37.28%	-215.24%	-25.65%	-0.32%	-4.2%	7.58%	45.76%	58.15%	60.49%	52.97%
Debt / Equity	0.32x	0.59x	0.88x	1.62x	3.18x	1.96x	1.54x	0.64x	0.49x	0.57x
Interest Coverage	-7.67x	-5.00x	-3.48x	0.77x	0.58x	2.25x	16.45x	21.02x	18.57x	11.30x
FCF Conversion	0.12x	0.02x	0.14x	13.54x	-1.87x	0.60x	1.22x	1.07x	1.13x	1.14x
Revenue Growth	-7.27%	-45.47%	15.64%	44.89%	16.26%	33.18%	76.15%	94.58%	3.65%	12.43%

Frequently Asked Questions

Valuation & Price

Euroseas Ltd. (ESEA) has a price-to-earnings (P/E) ratio of 3.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Euroseas Ltd. (ESEA) reported $223.8M in revenue for fiscal year 2024. This represents a 265% increase from $61.4M in 2011.

Euroseas Ltd. (ESEA) grew revenue by 12.4% over the past year. This is steady growth.

Yes, Euroseas Ltd. (ESEA) is profitable, generating $120.9M in net income for fiscal year 2024 (53.0% net margin).

Dividend & Returns

Yes, Euroseas Ltd. (ESEA) pays a dividend with a yield of 4.39%. This makes it attractive for income-focused investors.

Euroseas Ltd. (ESEA) has a return on equity (ROE) of 35.8%. This is excellent, indicating efficient use of shareholder capital.

Euroseas Ltd. (ESEA) generated $40.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.