The company's asset base has shrunk from $100.2 million in 2023Q1 to $78.2 million in 2025Q2, reflecting a significant reduction in net PPE to $43.1 million.
| Total Current Assets | 28.93M | 14.11M | 20.04M | 14.17M | 3.2M | 4.24M | 10.41M |
| Cash & Short-Term Investments | 25.77M | 7.16M | 14.84M | 8.45M | 1.67M | 39.64K | 1.92K |
| Cash Only | 25.77M | 7.16M | 14.84M | 8.45M | 1.67M | 39.64K | 1.92K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.8M | 3.06M | 2.96M | 4.26M | 881K | 2.2M | 309.75K |
| Days Sales Outstanding | 31.33 | 43.51 | 57.05 | 81.42 | 241.05 | 85.51 | 9.14 |
| Inventory | 170K | 1.6M | 287K | 334K | 186K | 181.97K | 168.77K |
| Days Inventory Outstanding | 9.16 | 24.93 | 7.81 | 11.54 | 166.4 | 7.01 | 8.64 |
| Other Current Assets | 46K | 2.29M | 1.29M | 1.13M | 460K | 941.49K | 9.22M |
| Total Non-Current Assets | 49.24M | 75.35M | 74.8M | 64.85M | 45.88M | 32.95M | 25.47M |
| Property, Plant & Equipment | 43.08M | 71.26M | 71.1M | 63.67M | 45.73M | 32.25M | 25.46M |
| Fixed Asset Turnover | 0.33x | 0.36x | 0.27x | 0.30x | 0.03x | 0.29x | 0.49x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 11.62M | 2.97M | 1.65M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.84M | 1.12M | 2.06M | 1.18M | 152K | 701.77K | 11.01K |
| Total Assets | 78.17M | 89.46M | 94.84M | 79.02M | 49.08M | 37.19M | 35.89M |
| Asset Turnover | 0.22x | 0.29x | 0.20x | 0.24x | 0.03x | 0.25x | 0.34x |
| Asset Growth % | -22.15% | -5.68% | 20.03% | 61% | 31.98% | 3.63% | - |
| Total Current Liabilities | 4.1M | 5.09M | 2.29M | 2.46M | 931K | 1.89M | 1.02M |
| Accounts Payable | 1.21M | 1.85M | 405K | 281K | 263K | 133.57K | 180.63K |
| Days Payables Outstanding | 20.17 | 28.91 | 11.02 | 9.71 | 235.28 | 5.14 | 9.25 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 1.04M | 184K | 399K | 374K | 228K | 0 | 155.88K |
| Other Current Liabilities | 0 | 0 | 110K | 650K | 0 | -115.28K | 238.02K |
| Current Ratio | 7.05x | 2.77x | 8.77x | 5.76x | 3.44x | 2.25x | 10.18x |
| Quick Ratio | 7.01x | 2.46x | 8.64x | 5.63x | 3.24x | 2.15x | 10.02x |
| Cash Conversion Cycle | 20.31 | 39.53 | 53.84 | 83.25 | 172.17 | 87.37 | 8.53 |
| Total Non-Current Liabilities | 0 | 0 | 0 | 655K | 0 | 133.57K | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 4.1M | 5.09M | 2.29M | 2.46M | 931K | 1.89M | 1.02M |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | -25.77M | -7.16M | -14.84M | -8.45M | -1.67M | -39.64K | -1.92K |
| Debt / Equity | 0.00x | - | - | - | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - |
| Net Debt / EBITDA | 2.16x | - | - | -1.85x | -3.43x | - | -0.00x |
| Interest Coverage | -141.83x | -162.87x | -1.17x | - | - | - | - |
| Total Equity | 74.07M | 84.37M | 92.56M | 76.56M | 48.15M | 35.3M | 34.86M |
| Equity Growth % | -39.86% | -8.85% | 20.9% | 59% | 36.39% | 1.26% | - |
| Book Value per Share | 246.46 | 282.55 | 686.19 | 12296.66 | 19612.63 | 20012.51 | 19763.14 |
| Total Shareholders' Equity | 74.07M | 84.37M | 92.56M | 76.56M | 48.15M | 35.3M | 34.86M |
| Common Stock | 3K | 75K | 74K | 102K | 88K | 144.27M | 140.04M |
| Retained Earnings | -36.56M | -25.91M | -8.02M | -2.32M | 65K | -108.97M | -105.18M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 140.04M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Asset base erosion
According to recent financial filings, Oceanpal Inc's total assets have declined from $100.2 million in 2023Q1 to $78.2 million by 2025Q2, reflecting a persistent trend of balance sheet shrinkage that suggests the company is struggling to maintain its operational scale amidst ongoing financial losses.
The consistent reduction in total assets, particularly the decline in net property, plant, and equipment, indicates a potential liquidation of productive capacity. This trajectory warrants close monitoring as it may imply that the company is consuming its asset base to offset operational cash burn.
As reported in quarterly statements, Oceanpal Inc's net PPE has fallen from $75.9 million in 2023Q1 to $43.1 million in 2025Q2, which indicates a significant reduction in the company's physical asset footprint and a potential shift toward a more constrained operational model.
The rapid decline in PPE suggests that the company may be disposing of vessels or failing to reinvest in its fleet, which could limit future revenue-generating potential. Investors should consider whether this asset-light transition is a strategic pivot or a forced response to liquidity constraints.
Based on reported figures, Oceanpal Inc's current ratio has fluctuated wildly, reaching 7.05 in 2025Q2, yet this metric appears misleading given the company's persistent net losses and the significant decline in cash reserves from $18.4 million in 2023Q1 to $25.8 million in 2025Q2.
While the current ratio suggests a strong buffer, the underlying cash position remains vulnerable to the company's ongoing operational losses. The lack of consistent cash generation suggests that the current liquidity position may be insufficient to support long-term operations without further capital dilution.
Data from recent balance sheets shows that Oceanpal Inc's retained earnings have deteriorated into a deficit of $36.6 million as of 2025Q2, highlighting a sustained period of value destruction that continues to weigh heavily on the company's total equity position.
The accumulation of negative retained earnings indicates that the company has been unable to generate profitable growth, effectively consuming shareholder capital. This trend suggests that the equity base is increasingly fragile and susceptible to further impairment if operational performance does not improve.
Quick answers to the most common questions about buying SVRN stock.
As of 2024, Oceanpal Inc (SVRN) had total assets of $89.5M including $14.1M in current assets.
Oceanpal Inc (SVRN) carries total debt of $0.0M, offset by $7.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Oceanpal Inc (SVRN) has total shareholders' equity (book value) of $84.4M ($282.55 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Oceanpal Inc (SVRN) reported a current ratio of 2.77x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.