Revenue growth remains highly unstable, evidenced by a 19.5% year-over-year contraction in 2025Q3 and operating margins that swung to a negative 13.7% in 2025Q1.
| Metric | TTM | Dec'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 | Dec'05 | Dec'04 |
|---|
| Sales/Revenue | 114.7B | 342.05M | 423.02M | 383.82M | 536.93M | 547.13M | 355.56M | 389.5M | 367.52M | 209.7M | 135.59M | 153.96M | 227.46M | 227.46M | 226.45M | 392.21M | 448.69M | 379.53M | 405.37M | 185.39M | 133.23M | 116.91M | 1.89M |
| Revenue Growth % | 30336.46% | -19.14% | 10.21% | -28.52% | -1.86% | 53.88% | -8.71% | 5.98% | 75.26% | 54.66% | -11.93% | -32.31% | 0% | 0.45% | -42.26% | -12.59% | 18.22% | -6.37% | 118.66% | 39.15% | 13.97% | 6095.34% | - |
| Cost of Goods Sold | 42.58B | 296.05M | 306.33M | 315.66M | 340.68M | 320.87M | 319.88M | 358.25M | 282.79M | 195.18M | 203.19M | 221.82M | 8.05M | 260.46M | 260.39M | 109.97M | 83.44M | 62.34M | 52.25M | 32.72M | 25.61M | 19.42M | 185K |
| COGS % of Revenue | - | 86.55% | 72.42% | 82.24% | 63.45% | 58.65% | 89.97% | 91.98% | 76.95% | 93.08% | 149.86% | 144.08% | 3.54% | 114.51% | 114.99% | 28.04% | 18.6% | 16.42% | 12.89% | 17.65% | 19.22% | 16.61% | 9.8% |
| Gross Profit | 72.12B | 46M | 116.68M | 68.16M | 196.26M | 226.26M | 35.68M | 31.24M | 84.73M | 14.52M | -67.61M | -67.86M | 219.42M | -33M | -33.94M | 282.24M | 365.24M | 317.2M | 353.12M | 152.66M | 107.62M | 97.48M | 1.7M |
| Gross Margin % | 62.88% | 13.45% | 27.58% | 17.76% | 36.55% | 41.35% | 10.03% | 8.02% | 23.05% | 6.92% | -49.86% | -44.08% | 96.46% | -14.51% | -14.99% | 71.96% | 81.4% | 83.58% | 87.11% | 82.35% | 80.78% | 83.39% | 90.2% |
| Gross Profit Growth % | - | -60.57% | 71.19% | -65.27% | -13.26% | 534.13% | 14.21% | -63.13% | 483.74% | 121.47% | 0.38% | -130.93% | 764.98% | 2.77% | -112.02% | -22.72% | 15.15% | -10.17% | 131.31% | 41.86% | 10.4% | 5627.61% | - |
| Operating Expenses | 26.61B | 36.87M | 29.63M | 74.01M | 29.02M | 25.14M | 239.02M | 59.64M | 31.14M | 29.85M | 31.87M | 83.9M | 103.63M | 33.91M | 35.41M | 169.6M | 143.95M | 106.7M | 91.21M | 21.59M | 37.3M | 28.74M | 561K |
| OpEx % of Revenue | - | 10.78% | 7.01% | 19.28% | 5.4% | 4.6% | 67.22% | 15.31% | 8.47% | 14.23% | 23.5% | 54.5% | 45.56% | 14.91% | 15.64% | 43.24% | 32.08% | 28.11% | 22.5% | 11.65% | 28% | 24.58% | 29.73% |
| Selling, General & Admin | 38.86B | 30.75B | 29.14M | 28.27M | 25.71M | 24.45M | 21.27M | 24.52M | 23.14M | 22.19M | 23.89M | 83.9M | 34.03M | 34.03M | 35.67M | 33.93M | 29.08M | 18.55M | 19.81M | 12.61M | 8.88M | 6.42M | 140K |
| SG&A % of Revenue | - | 8991.27% | 6.89% | 7.36% | 4.79% | 4.47% | 5.98% | 6.29% | 6.3% | 10.58% | 17.62% | 54.5% | 14.96% | 14.96% | 15.75% | 8.65% | 6.48% | 4.89% | 4.89% | 6.8% | 6.67% | 5.49% | 7.42% |
| Research & Development | 0 | 0 | 0 | 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 | 2M | -30.72B | 498K | 45.74M | 3.31M | 688K | 217.75M | 35.13M | 367K | -164K | -20.04M | -796K | 69.59M | -76K | -29K | 135.68M | 114.87M | 88.15M | 71.39M | 21.59M | 28.42M | 22.32M | 421K |
| Operating Income | 32.48M | 9.13M | 87.05M | -5.85M | 167.24M | 201.12M | -203.34M | -28.4M | 516K | -29.61M | -185.88M | -192.87M | -121K | -66.91M | -69.34M | 112.64M | 221.29M | 210.49M | 234.38M | 131.07M | 70.32M | 68.75M | 1.14M |
| Operating Margin % | 0.03% | 2.67% | 20.58% | -1.52% | 31.15% | 36.76% | -57.19% | -7.29% | 0.14% | -14.12% | -137.09% | -125.27% | -0.05% | -29.41% | -30.62% | 28.72% | 49.32% | 55.46% | 57.82% | 70.7% | 52.78% | 58.8% | 60.47% |
| Operating Income Growth % | - | -89.51% | 1588.78% | -103.5% | -16.84% | 198.91% | -615.9% | -5604.46% | 101.74% | 84.07% | 3.62% | -159294.21% | 99.82% | 3.52% | -161.56% | -49.1% | 5.13% | -10.19% | 78.82% | 86.39% | 2.29% | 5925.07% | - |
| EBITDA | 112.42M | 86.47M | 157.15M | 62.07M | 228.84M | 258.73M | -136.81M | 45.67M | 69.49M | 42.16M | -109.55M | -113.31M | 112.55M | 73.84M | 69.72M | 248.84M | 336.95M | 298.64M | 305.77M | 165.45M | 97.3M | 91.07M | 1.56M |
| EBITDA Margin % | 0.1% | 25.28% | 37.15% | 16.17% | 42.62% | 47.29% | -38.48% | 11.72% | 18.91% | 20.11% | -80.79% | -73.6% | 49.48% | 32.46% | 30.79% | 63.45% | 75.1% | 78.69% | 75.43% | 89.24% | 73.03% | 77.9% | 82.78% |
| EBITDA Growth % | -10.56% | -44.98% | 153.19% | -72.88% | -11.55% | 289.12% | -399.58% | -34.28% | 64.83% | 138.49% | 3.32% | -200.68% | 52.42% | 5.91% | -71.98% | -26.15% | 12.83% | -2.33% | 84.81% | 70.04% | 6.84% | 5730.22% | - |
| D&A (Non-Cash Add-back) | 79.94M | 77.34M | 70.1M | 67.92M | 61.61M | 57.62M | 66.53M | 74.07M | 68.98M | 71.78M | 76.33M | 79.56M | 112.67M | 140.74M | 139.06M | 136.2M | 115.66M | 88.15M | 71.39M | 34.38M | 26.98M | 22.32M | 421K |
| EBIT | 18.79M | 9.13M | 89.79M | -3.58M | 168.46M | 197.4M | -203.16M | -24.03M | 151K | -28.23M | -188.59M | -232.51M | -1.18B | -66.91M | -69M | 113.17M | 221.9M | 210.42M | 261.92M | 104.02M | 73.56M | 68.75M | 1.14M |
| Net Interest Income | -8.6M | -10.78M | -10.32M | -6.11M | -8.05M | -15.2M | -21.39M | -27.86M | -29.29M | -28.95M | -28.25M | -19.92M | -48.59M | -88.14M | -87.18M | -86.11M | -71.97M | -61.56M | -50.83M | -23M | 0 | 0 | 0 |
| Interest Income | 666.11M | 1.48M | 2.98M | 2.67M | 1.04M | 154K | 1.03M | 4.09M | 3.8M | 1.55M | 204K | 110K | 0 | 75K | 378K | 616K | 685K | 240K | 1.76M | 3.51M | 0 | 0 | 0 |
| Interest Expense | -4.49B | 12.26M | 13.3M | 8.78M | 9.09M | 15.36M | 22.41M | 31.95M | 33.09M | 30.5M | 28.45M | 20.03M | 48.59M | 88.22M | 87.56M | 86.72M | 72.65M | 61.8M | 52.59M | 26.5M | 0 | 0 | 0 |
| Other Income/Expense | -15.73M | -13.65M | -10.55M | -6.51M | -7.87M | -19.07M | -22.24M | -27.58M | -33.46M | -29.11M | -30.57M | -59.68M | -965.89M | -88.22M | -86.94M | -86.19M | -72.04M | -61.87M | -147.8M | -24.26M | -6.8M | -14.26M | -234K |
| Pretax Income | 16.76M | -4.51M | 76.5M | -12.36M | 159.36M | 182.04M | -225.57M | -55.98M | -32.94M | -58.73M | -216.45M | -252.55M | -155.12M | -155.12M | -156.55M | 26.45M | 149.25M | 148.62M | 86.58M | 106.81M | 63.52M | 54.48M | 0 |
| Pretax Margin % | 0.01% | -1.32% | 18.08% | -3.22% | 29.68% | 33.27% | -63.44% | -14.37% | -8.96% | -28% | -159.64% | -164.04% | -68.2% | -68.2% | -69.13% | 6.74% | 33.26% | 39.16% | 21.36% | 57.61% | 47.68% | 46.6% | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 709K | 1.82M | -1.9M | 1.9M | 1.22M | 1.39M | 1.84M | 0 | 0 | 0 | 0 | 0 | 234K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -0.33% | -0.72% | 1.22% | -1.22% | -0.78% | 5.24% | 1.23% | 0% | 0% | 0% | 0% | 0% | - |
| Net Income | 9.32B | -4.37M | 76.4M | -12.87M | 158.58M | 182.01M | -225.57M | -55.98M | -32.94M | -58.73M | -217.16M | -194.9M | -147.74M | -147.74M | -144.93M | 25.39M | 141.24M | 148.62M | 86.58M | 106.81M | 63.52M | 54.48M | 907K |
| Net Margin % | 8.12% | -1.28% | 18.06% | -3.35% | 29.53% | 33.27% | -63.44% | -14.37% | -8.96% | -28% | -160.16% | -126.59% | -64.95% | -64.95% | -64% | 6.47% | 31.48% | 39.16% | 21.36% | 57.61% | 47.68% | 46.6% | 48.07% |
| Net Income Growth % | 20295.26% | -105.71% | 693.64% | -108.12% | -12.87% | 180.69% | -302.92% | -69.96% | 43.91% | 72.96% | -11.42% | -31.92% | 0% | -1.94% | -670.9% | -82.03% | -4.97% | 71.66% | -18.94% | 68.14% | 16.59% | 5906.84% | - |
| Net Income (Continuing) | 9.32B | -4.51M | 76.5M | -12.36M | 159.36M | 182.04M | -225.57M | -55.98M | -32.94M | -58.73M | -217.76M | -254.37M | -1.23B | -157.02M | -157.78M | 25.07M | 147.41M | 148.62M | 86.58M | 106.81M | 63.52M | 54.48M | 907K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1.6B | 1.34M | 1.49M | 1.39M | 876K | 88K | 0 | 0 | 0 | 0 | 0 | 0 | 270.4M | 341.34M | 194.9M | 210.01M | 215.2M | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 209.78 | -0.10 | 1.75 | -0.30 | 3.70 | 4.27 | -5.90 | -2.12 | -0.86 | -1.71 | -29.95 | -29.61 | -22.44 | -34.16 | -34.73 | 7.20 | 40.70 | 47.30 | 28.40 | 40.60 | 25.10 | 29.00 | 0.70 |
| EPS Growth % | -63.88% | -105.71% | 683.33% | -108.11% | -13.35% | 172.37% | -178.3% | -146.51% | 49.71% | 94.29% | -1.15% | -31.95% | 34.31% | 1.64% | -582.36% | -82.31% | -13.95% | 66.55% | -30.05% | 61.75% | -13.45% | 4042.86% | - |
| EPS (Basic) | - | -0.10 | 1.77 | -0.30 | 3.74 | 4.33 | -5.90 | -2.12 | -0.86 | -1.71 | -29.95 | -29.61 | -22.44 | -34.20 | -34.73 | 7.20 | 42.80 | 47.50 | 28.60 | 40.80 | 25.10 | 29.10 | 0.70 |
| Diluted Shares Outstanding | 44.41M | 43.37M | 43.65M | 42.77M | 42.92M | 42.59M | 41.91M | 41.76M | 38.38M | 34.24M | 7.25M | 6.58M | 6.58M | 4.32M | 4.17M | 3.53M | 3.59M | 3.14M | 3.05M | 2.63M | 2.54M | 1.88M | 1.35M |
| Basic Shares Outstanding | 43.71M | 43.37M | 43.05M | 42.77M | 42.41M | 42.06M | 41.91M | 41.76M | 38.3M | 34.24M | 7.25M | 6.58M | 6.58M | 4.32M | 4.17M | 3.52M | 3.3M | 3.13M | 3.03M | 2.62M | 2.53M | 1.88M | 1.35M |
| Dividend Payout Ratio | - | - | 88.36% | - | 72.98% | 7.4% | - | - | - | - | - | - | - | - | - | 29.95% | 3.8% | 78.8% | 135.26% | 65.14% | 96.09% | 27.95% | - |
Spot rate volatility exposure
As reported in recent financial filings, Genco experienced a significant revenue decline, with quarterly figures showing a 19.5% year-over-year contraction in 2025Q3, highlighting the company's extreme sensitivity to the volatile spot-market rates that dictate its top-line performance across both major and minor bulk segments.
The revenue trajectory appears heavily tethered to global industrial demand, particularly Chinese steel production, which has recently pressured charter rates. This downward trend suggests that the company's reliance on spot-market fixtures leaves it vulnerable to rapid shifts in global trade volumes, limiting the durability of its revenue base.
Based on the company's latest income statement data, gross margins have faced severe compression, falling to a negative 1.3% in 2025Q1 before showing only modest recovery, which underscores the difficulty of maintaining profitability when spot rates fail to cover the high fixed costs of vessel operations.
The structural nature of vessel operating expenses and depreciation creates a high break-even threshold that the company has struggled to clear during recent periods of market weakness. Investors should monitor whether the current margin profile reflects a temporary cyclical trough or a more permanent inability to pass through rising voyage costs.
According to historical income statement analysis, Genco's operating income has demonstrated high sensitivity to revenue fluctuations, swinging from a positive $26.3 million in 2024Q2 to a $9.8 million loss by 2025Q1, illustrating the significant impact of operating leverage when top-line growth turns negative.
The company's cost structure appears to lack the flexibility required to protect operating income during periods of declining charter rates. This suggests that while the company may benefit from high-beta upside during market peaks, the current environment exposes the inherent risks of its high fixed-cost operating model.
Data from recent quarterly reports indicates that Genco's net income has frequently dipped into negative territory, such as the $11.9 million loss in 2025Q1, which raises questions regarding the long-term sustainability of its dividend policy in the absence of consistent, positive cash flow generation.
While the company maintains a strong balance sheet, the disconnect between dividend payouts and volatile net income warrants further investigation by investors. The reliance on cash reserves to fund distributions during loss-making quarters may eventually constrain the company's ability to pursue fleet renewal or opportunistic asset acquisitions.
Quick answers to the most common questions about buying GNK stock.
For fiscal year 2025, Genco Shipping & Trading Limited (GNK) reported total revenue of $342.1M. This represents a 18026.9% increase compared to $1.9M in 2004.
Genco Shipping & Trading Limited (GNK) reported a net loss of $4.4M for the fiscal year ending 2025.
Genco Shipping & Trading Limited (GNK) reported an operating income of $9.1M, resulting in an operating profit margin of 2.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Genco Shipping & Trading Limited (GNK) generated $46.0M in gross profit for the year, representing a gross profit margin of 13.4%. This demonstrates the company's core pricing power and production efficiency.