Latest Ratios: P/E Ratio 3.6x · EV/EBITDA 3.4x · ROE 33.1%. (2002–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $505M | $379M | $205M | $176M | $108M | $142M | $25M | $9M | $6M | $15M | $11M |
| Enterprise Value | $545M | $419M | $337M | $247M | $189M | $233M | $91M | $98M | $36M | $84M | $60M |
| P/E Ratio → | 3.63 | 2.77 | 1.82 | 1.53 | 1.01 | 3.34 | 7.62 | — | — | — | — |
| P/S Ratio | 2.22 | 1.66 | 0.96 | 0.93 | 0.59 | 1.51 | 0.48 | 0.24 | 0.19 | 0.65 | 0.55 |
| P/B Ratio | 1.07 | 0.82 | 0.56 | 0.66 | 0.64 | 1.85 | 0.72 | 0.34 | 0.29 | 0.19 | 0.13 |
| P/FCF | 7.88 | 5.92 | — | 9.92 | 4.61 | — | 14.43 | — | — | — | — |
| P/OCF | 3.58 | 2.69 | 1.60 | 1.35 | 0.95 | 2.69 | 10.47 | 3.02 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.84 | 1.58 | 1.30 | 1.04 | 2.48 | 1.71 | 2.45 | 1.05 | 3.52 | 2.92 |
| EV / EBITDA | 3.44 | 2.64 | 2.30 | 1.74 | 1.51 | 4.41 | 5.74 | 15.92 | 6.39 | — | — |
| EV / EBIT | 4.19 | 2.76 | 2.73 | 2.04 | 1.70 | 5.10 | 11.17 | 56.23 | 15.11 | — | — |
| EV / FCF | — | 6.54 | — | 13.95 | 8.09 | — | 51.77 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.5% | 63.5% | 59.8% | 63.3% | 62.7% | 55.6% | 23.7% | 20.2% | 20.6% | 12.7% | -8.2% |
| Operating Margin | 57.0% | 57.0% | 56.4% | 63.1% | 58.4% | 48.7% | 17.4% | 4.9% | 6.8% | -22.8% | -61.7% |
| Net Profit Margin | 60.1% | 60.1% | 53.0% | 60.5% | 58.2% | 45.8% | 7.6% | -4.2% | -0.3% | -25.7% | -215.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 33.1% | 33.1% | 35.8% | 52.7% | 86.8% | 76.6% | 12.7% | -6.6% | -0.2% | -7.2% | -41.1% |
| ROA | 21.2% | 21.2% | 22.2% | 30.4% | 38.6% | 25.9% | 3.4% | -1.7% | -0.1% | -4.0% | -27.9% |
| ROIC | 19.5% | 19.5% | 21.6% | 30.5% | 38.3% | 25.5% | 6.4% | 1.8% | 1.7% | -2.8% | -6.4% |
| ROCE | 21.7% | 21.7% | 26.4% | 38.0% | 48.6% | 34.3% | 10.1% | 2.5% | 2.3% | -3.9% | -8.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.47 | 0.47 | 0.57 | 0.49 | 0.64 | 1.54 | 1.96 | 3.18 | 1.62 | 0.88 | 0.59 |
| Debt / EBITDA | 1.37 | 1.37 | 1.40 | 0.91 | 0.86 | 2.23 | 4.36 | 14.54 | 6.48 | — | — |
| Net Debt / Equity | — | 0.09 | 0.36 | 0.27 | 0.48 | 1.19 | 1.86 | 3.15 | 1.31 | 0.83 | 0.55 |
| Net Debt / EBITDA | 0.25 | 0.25 | 0.90 | 0.50 | 0.65 | 1.73 | 4.14 | 14.38 | 5.25 | — | — |
| Debt / FCF | — | 0.62 | — | 4.03 | 3.48 | — | 37.34 | — | — | — | — |
| Interest Coverage | 10.14 | 10.14 | 11.62 | 18.81 | 21.94 | 16.46 | 1.98 | 0.51 | 0.78 | -3.47 | -12.92 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.89 | 4.89 | 1.48 | 1.29 | 0.64 | 0.88 | 0.34 | 0.25 | 1.03 | 0.87 | 0.93 |
| Quick Ratio | 4.82 | 4.82 | 1.43 | 1.24 | 0.60 | 0.82 | 0.28 | 0.18 | 0.89 | 0.78 | 0.82 |
| Cash Ratio | 4.50 | 4.50 | 1.29 | 1.15 | 0.35 | 0.71 | 0.12 | 0.04 | 0.60 | 0.22 | 0.29 |
| Asset Turnover | — | 0.33 | 0.36 | 0.45 | 0.56 | 0.42 | 0.48 | 0.32 | 0.51 | 0.15 | 0.14 |
| Inventory Turnover | 29.50 | 29.50 | 26.81 | 27.38 | 29.56 | 19.06 | 24.48 | 16.90 | 16.03 | 12.61 | 17.21 |
| Days Sales Outstanding | — | 18.46 | 9.13 | 8.32 | 12.23 | 11.65 | 26.57 | 20.84 | 31.70 | 28.43 | 40.91 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.8% | 5.0% | 8.2% | 8.0% | 10.0% | 0.3% | 1.3% | 10.9% | — | — | — |
| Payout Ratio | 13.8% | 13.8% | 14.9% | 12.2% | 10.2% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 27.6% | 36.1% | 55.0% | 65.2% | 98.5% | 29.9% | 13.1% | — | — | — | — |
| FCF Yield | 12.7% | 16.9% | — | 10.1% | 21.7% | — | 6.9% | — | — | — | — |
| Buyback Yield | 0.4% | 0.6% | 0.5% | 1.8% | 4.7% | 1.4% | 0.0% | 100.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.2% | 5.6% | 8.7% | 9.7% | 14.7% | 1.7% | 1.3% | 100.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $7M | $7M | $7M | $7M | $7M | $6M | $3M | $1M | $1M | $1M |
Includes 30+ ratios · 24 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying ESEA stock.
Euroseas Ltd.'s current P/E ratio is 3.6x. The historical average is 8.9x. This places it at the 50th percentile of its historical range.
Euroseas Ltd.'s current EV/EBITDA is 3.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.4x.
Euroseas Ltd.'s return on equity (ROE) is 33.1%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 19.2%.
Based on historical data, Euroseas Ltd. is trading at a P/E of 3.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Euroseas Ltd.'s current dividend yield is 3.81% with a payout ratio of 13.8%.
Euroseas Ltd. has 63.5% gross margin and 57.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Euroseas Ltd.'s Debt/EBITDA ratio is 1.4x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Cyclical earnings and asset valuation
Deep Value Pricing Amid Cyclical Peak
Euroseas trades at a P/E of 3.91 and EV/EBITDA of 3.68, multiples that appear to price in a significant earnings decline, as the PEG ratio of 0.04 suggests the market expects minimal future growth from current levels.
The valuation multiples are at a steep discount to the broader Industrials sector and even to shipping peers like Costamare (P/E 5.40) and Danaos (P/E 5.73). This pricing implies the market is skeptical of the sustainability of the current high-margin environment, likely anticipating a cyclical downturn in shipping rates that would compress earnings. The low PEG ratio is particularly telling, as it suggests the market assigns almost no value to any potential growth, focusing instead on the peak earnings power.
Structurally Elevated Margins at Cyclical High
Operating margins have stabilized above 60% in recent quarters, a dramatic expansion from the 43.6% level in 2024Q1, indicating a new, higher profitability baseline driven by favorable market conditions.
The sustained gross margin above 66% and operating margin above 60% represent a significant structural shift from the sub-50% levels seen just two years ago. This suggests the company has captured substantial pricing power and operational efficiency in the current market cycle. However, the prior analysis correctly notes that such elevated margins are vulnerable to a cyclical reversal, and the recent deceleration in revenue growth may be an early indicator of this inflection.
Returns Normalizing After Cyclical Surge
ROIC has moderated to 4.6% in 2026Q2 from a peak of 7.6% in 2024Q2, suggesting the exceptional returns generated during the market upswing are beginning to normalize as the cycle matures.
The decline in ROIC from its 2024 peak, while still positive, indicates that the company's ability to generate outsized returns on its invested capital is waning. This trend aligns with the decelerating revenue growth and suggests that the fleet expansion, while increasing the asset base, is not generating incremental returns at the same rate as during the market peak. Investors should monitor whether this is a cyclical trough or the beginning of a longer-term decay in capital efficiency.
Deleveraging Trend Provides Cyclical Buffer
The debt-to-equity ratio has improved to 0.39 from a high of 0.64, and interest coverage remains robust at 12.73x, indicating the balance sheet is strengthening ahead of a potential market downturn.
The consistent reduction in leverage, despite ongoing capital expenditure, demonstrates disciplined capital allocation and strong cash flow generation. The high interest coverage ratio provides a substantial cushion, making the company less vulnerable to a rise in interest rates or a decline in earnings. This deleveraging trend is a key positive, as it provides financial flexibility to navigate the inherent cyclicality of the shipping industry.
The Misleading Signal of the P/E Ratio
The P/E ratio of 3.91 is the most commonly misapplied metric for this business model, as it uses peak cyclical earnings in the denominator, severely understating the company's valuation on a normalized earnings basis.
For cyclical companies like Euroseas, the P/E ratio is notoriously misleading because it is lowest when earnings are highest (at the peak of the cycle) and highest when earnings are lowest (at the trough). The current low P/E does not indicate a bargain but rather reflects the market's expectation that current earnings are unsustainable. A more appropriate metric would be the Price-to-Tangible-Book-Value ratio, which at 1.16 provides a better anchor for valuation, or an EV/EBITDA multiple based on a normalized, mid-cycle earnings estimate.