Latest Ratios: P/E Ratio 5.0x · EV/EBITDA 4.8x · ROE 7.7%. (2006–2025 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 | $298M | $190M | $138M | $144M | $88M | $174M | $18M | $8M | $19M | $37M | $23M |
| Enterprise Value | $526M | $417M | $374M | $358M | $318M | $355M | $181M | $191M | $238M | $247M | $221M |
| P/E Ratio → | 4.98 | 9.14 | 3.29 | 65.25 | 5.17 | 3.64 | — | — | — | — | — |
| P/S Ratio | 1.53 | 1.20 | 0.83 | 1.31 | 0.70 | 1.14 | 0.28 | 0.10 | 0.20 | 0.49 | 0.67 |
| P/B Ratio | 1.03 | 0.67 | 0.53 | 0.63 | 0.40 | 0.71 | 0.19 | 0.28 | 0.88 | 0.89 | 0.76 |
| P/FCF | 29.31 | 11.14 | 149.05 | 4.68 | — | — | — | 10.91 | — | — | — |
| P/OCF | 5.67 | 3.60 | 1.84 | 4.61 | 2.35 | 2.15 | — | 0.63 | 3.27 | 13.26 | — |
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 | — | 2.64 | 2.23 | 3.25 | 2.54 | 2.32 | 2.86 | 2.21 | 2.60 | 3.30 | 6.36 |
| EV / EBITDA | 4.79 | 5.40 | 4.06 | 7.78 | 5.99 | 4.28 | 14.54 | 8.30 | 15.73 | 18.55 | — |
| EV / EBIT | 12.79 | 9.71 | 5.96 | 17.42 | 10.77 | 6.81 | 35.72 | 60.63 | 56.02 | 17.45 | — |
| EV / FCF | — | 24.50 | 403.63 | 11.61 | — | — | — | 252.18 | — | — | — |
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 | 39.6% | 39.6% | 70.0% | 36.7% | 43.0% | 54.3% | 11.7% | 23.0% | 19.7% | 25.8% | -26.3% |
| Operating Margin | 26.0% | 26.0% | 37.4% | 19.4% | 23.7% | 43.0% | -0.4% | 13.9% | 4.7% | 3.7% | -42.4% |
| Net Profit Margin | 13.2% | 13.2% | 26.0% | 2.1% | 13.8% | 27.0% | -29.0% | -13.5% | -23.0% | -4.3% | -71.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.7% | 7.7% | 17.7% | 1.0% | 7.4% | 24.3% | -29.2% | -45.7% | -67.3% | -9.0% | -91.0% |
| ROA | 3.6% | 3.6% | 8.5% | 0.5% | 3.4% | 10.6% | -6.4% | -4.3% | -7.7% | -1.2% | -10.5% |
| ROIC | 6.1% | 6.1% | 10.0% | 3.6% | 5.1% | 14.4% | -0.1% | 4.0% | 1.3% | 0.9% | -5.2% |
| ROCE | 8.2% | 8.2% | 14.0% | 5.2% | 7.3% | 19.9% | -0.2% | 8.7% | 1.8% | 1.2% | -6.7% |
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 | 1.03 | 1.03 | 0.98 | 1.02 | 1.16 | 0.91 | 1.93 | 6.62 | 10.62 | 5.30 | 6.81 |
| Debt / EBITDA | 3.76 | 3.76 | 2.79 | 5.06 | 4.82 | 2.68 | 14.80 | 8.57 | 14.94 | 16.45 | — |
| Net Debt / Equity | — | 0.81 | 0.90 | 0.93 | 1.04 | 0.74 | 1.71 | 6.13 | 10.31 | 5.09 | 6.40 |
| Net Debt / EBITDA | 2.94 | 2.94 | 2.56 | 4.64 | 4.33 | 2.18 | 13.11 | 7.94 | 14.50 | 15.79 | — |
| Debt / FCF | — | 13.37 | 254.59 | 6.93 | — | — | — | 241.26 | — | — | — |
| Interest Coverage | 1.98 | 1.98 | 3.35 | 1.12 | 2.40 | 4.82 | 0.22 | 0.13 | 0.17 | 0.81 | -1.49 |
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 | 0.71 | 0.71 | 0.74 | 0.36 | 0.65 | 0.54 | 0.99 | 0.06 | 0.47 | 0.57 | 1.05 |
| Quick Ratio | 0.71 | 0.71 | 0.72 | 0.34 | 0.63 | 0.52 | 0.84 | 0.05 | 0.32 | 0.43 | 0.86 |
| Cash Ratio | 0.71 | 0.71 | 0.35 | 0.28 | 0.27 | 0.49 | 0.74 | 0.06 | 0.18 | 0.26 | 0.61 |
| Asset Turnover | — | 0.26 | 0.31 | 0.23 | 0.24 | 0.31 | 0.21 | 0.31 | 0.34 | 0.27 | 0.13 |
| Inventory Turnover | — | — | 29.70 | 44.76 | 35.72 | 48.31 | 12.03 | 17.25 | 13.89 | 11.58 | 10.82 |
| Days Sales Outstanding | — | 23.02 | 16.73 | 3.99 | 4.52 | — | 4.62 | 7.44 | 10.56 | 17.69 | 29.31 |
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 | 3.3% | 5.0% | 7.8% | 4.2% | 20.4% | — | — | — | — | — | — |
| Payout Ratio | 45.5% | 45.5% | 24.7% | 264.3% | 104.0% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 20.1% | 10.9% | 30.4% | 1.5% | 19.4% | 27.5% | — | — | — | — | — |
| FCF Yield | 3.4% | 9.0% | 0.7% | 21.4% | — | — | — | 9.2% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 3.5% | 1.2% | 0.0% | 1.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.3% | 5.0% | 11.3% | 5.4% | 20.4% | 1.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $21M | $20M | $18M | $18M | $19M | $3M | $95829 | $15669 | $14935 | $8563 |
Includes 30+ ratios · 20 years · Updated daily
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Quick answers to the most common questions about buying SHIP stock.
Seanergy Maritime Holdings Corp.'s current P/E ratio is 5.0x. The historical average is 22.4x. This places it at the 56th percentile of its historical range.
Seanergy Maritime Holdings Corp.'s current EV/EBITDA is 4.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.2x.
Seanergy Maritime Holdings Corp.'s return on equity (ROE) is 7.7%. The historical average is -23.0%.
Based on historical data, Seanergy Maritime Holdings Corp. is trading at a P/E of 5.0x. This is at the 56th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Seanergy Maritime Holdings Corp.'s current dividend yield is 3.27% with a payout ratio of 45.5%.
Seanergy Maritime Holdings Corp. has 39.6% gross margin and 26.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Seanergy Maritime Holdings Corp.'s Debt/EBITDA ratio is 3.8x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Capesize rate cyclicality
Cheap Multiples on Cyclical Peak Earnings
With a forward P/E of 4.93 and forward EV/EBITDA of 3.76, Seanergy screens at a material discount to dry bulk peers, yet trailing multiples of 17.64x and 7.82x appear anchored to peak-cycle earnings that may not recur.
Trailing multiples sit below Safe Bulkers (P/E 29.37, EV/EBITDA 9.95) and Star Bulk (42.12x, 13.46x), but only slightly above Navios Maritime Partners (9.65x, 6.23x), suggesting the discount may reflect structural leverage and fleet profile rather than a genuine value gap. The 2.6% dividend yield implies the market treats current earnings as cyclical, and the gap between trailing 17.64x and forward 4.93x P/E suggests analysts are pricing a sharp earnings reset rather than continued normalization.
Margin Surge Tracks Charter Rate Cycle
Seanergy's 45.9% net margin in Q2 2026 dwarfed Safe Bulkers' 14.0% and Star Bulk's 8.1%, per peer filings, but the gross margin's swing from 10.8% to 66.2% within eight quarters suggests this spread follows Capesize rate cycles rather than durable pricing power.
The 59.3% gross margin and 46.5% operating margin in Q2 2026 sit above the peer group, but the same data show a 28.4% net loss margin in Q1 2025, indicating margins are a function of freight rates rather than cost structure or commercial leverage. Because reported stock-based compensation and R&D are nil across all ten quarters, net margin is arguably the cleanest read on earning power, though it remains hostage to spot Capesize charter rates rather than underlying operating efficiency.
Equity Returns Outpace Capital Returns
Return on invested capital of 3.6% in Q2 2026 remained well below the 8.5% return on equity, based on Seanergy's reported figures, suggesting the apparent equity return is amplified by leverage and asset revaluation rather than genuine operating returns on its vessel fleet.
ROIC peaked at 3.2% in Q2 2024 and has moved only to 3.6% despite total assets expanding roughly 32% over the period, implying that each incremental dollar of fleet investment has not yet translated into proportionate operating profit. The divergence between ROE and ROIC, combined with deeply negative retained earnings, suggests returns are being driven by capital injections and equity accretion rather than compounding of invested capital, which warrants closer scrutiny of newbuild and acquisition economics.
Improving Coverage, Persistent Absolute Leverage
Debt-to-equity eased to 0.94 in Q2 2026 while interest coverage improved to 6.08 times, according to Seanergy's quarterly filings, yet the debt-to-EBITDA ratio of 8.40 times still contrasts sharply with peers' leverage of 0.22 to 0.71 times.
The trend from a 68.26x debt/EBITDA reading in Q1 2025 to 8.40x in Q2 2026, and coverage moving from negative 0.30x to 6.08x, indicates debt service comfort has improved materially as charter rates recovered. However, debt rose 32% over the period to $294.9M, and with only ~$2.6M of deferred revenue implying negligible contracted backlog, refinancing terms and floating-rate exposure remain sensitive to a repeat of the Q1 2025 rate environment.
Sub-1.0 Liquidity Persists Across Cycle
Seanergy's current and quick ratios both stood at 0.74 in Q2 2026, as disclosed in its balance sheets, remaining below 1.0 across every reported quarter despite cash building to $59.5M, leaving short-term obligation coverage dependent on charter receipts.
Because the quick ratio equals the current ratio, the company appears to carry negligible inventory, which is consistent with a vessel-operating model; liquidity risk here stems from the maturity profile of debt and charter-related obligations rather than inventory dependence. Under a stress scenario resembling Q1 2025 — when current ratio fell to 0.39 and coverage turned negative — near-term obligations would likely require either asset sales, charter prepayments, or equity issuance, none of which are confirmed in the disclosed data.
ROE Is the Most Misapplied Metric Here
The 8.5% return on equity is the ratio most commonly misapplied to Seanergy, given shareholders' equity of $313.1M rests on -$292.2M of retained earnings, per its financial statements, making ROE an unreliable indicator of underlying fleet profitability.
Because the equity base has been built through capital injections and asset revaluations rather than accumulated earnings, ROE both understates the return on current assets and flatters the appearance of compounding, which is exactly the opposite of what the negative retained earnings and low ROIC suggest. The more informative pairing is EV/EBITDA (7.82x, well below most peers) read alongside ROIC of 3.6%, which together frame Seanergy as an asset-heavy operator earning thin returns on invested capital at what may be near-peak cycle pricing — a combination that warrants investigation into newbuild economics rather than comfort.