The firm continues to burn cash with an FCF margin of -17.4% in 2025Q2, while simultaneously distributing $593.5K in dividends despite the lack of positive operating cash flow.
| Cash from Operations | -1.27M | -3.53M | 815K | 1.51M | 715K | -2.72M | 1.44M |
| Operating CF Margin % | - | -13.73% | 4.3% | 7.93% | 53.6% | -28.94% | 11.64% |
| Operating CF Growth % | -536.45% | -533.13% | -46.13% | 111.61% | 126.26% | -289.18% | - |
| Net Income | -18.79M | -17.86M | -1.98M | -326K | 134K | -3.8M | -1.86M |
| Depreciation & Amortization | 3.23M | 0 | 7.67M | 4.9M | 354K | 2.15M | 2.48M |
| Stock-Based Compensation | 1.39M | 2.78M | 1.89M | 568K | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | -4.9M | 0 | 0 | 0 |
| Other Non-Cash Items | 3.29M | 13.38M | -5.32M | 4.9M | 682.48K | -200.5K | 3.05M |
| Working Capital Changes | 1.27M | -1.82M | -1.46M | -3.63M | 227K | -878.69K | -2.23M |
| Change in Receivables | 1.26M | -101K | 1.29M | -3.44M | -46K | -725.32K | -302.7K |
| Change in Inventory | 1.43M | -1.31M | 47K | -148K | 23K | -13.2K | 392.25K |
| Change in Payables | 0 | 1.45M | 124K | 18K | 263K | -47.06K | -160.92K |
| Cash from Investing | 18.51M | -2.52M | -6.01M | -5.09M | -42K | -1.47M | 0 |
| Capital Expenditures | 0 | -18.91M | -4.37M | -5.09M | -42K | -1.47M | 0 |
| CapEx % of Revenue | 0% | 73.56% | 23.04% | 26.69% | 3.15% | 15.67% | - |
| Acquisitions | 17.52M | -1.38M | -1.64M | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 989.21K | 17.77M | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -2.19M | -1.64M | 11.58M | 10.36M | 1M | 4.24M | -1.5M |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 0 | 15.16M | 16.2M | 0 | 0 | 0 |
| Dividends Paid | -1.19M | -1.64M | -2.09M | -3.1M | -1.67M | 0 | -1.5M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -1M | 0 | -1.49M | -2.73M | 2.67M | 4.24M | 0 |
| Net Change in Cash | -10.8M | -7.68M | 6.39M | 6.78M | 1.63M | 37.72K | -64.77K |
| Free Cash Flow | -20.21M | -22.44M | -3.55M | -3.58M | 673K | -4.2M | 1.44M |
| FCF Margin % | -103.98% | -87.29% | -18.74% | -18.76% | 50.45% | -44.61% | 11.64% |
| FCF Growth % | -563.01% | -531.47% | 0.78% | -632.1% | 116.03% | -391.65% | - |
| FCF per Share | -67.24 | -75.14 | -26.34 | -575.17 | 274.13 | -2379.89 | 816.02 |
| FCF Conversion (FCF/Net Income) | 1.08x | 0.20x | -0.41x | -4.64x | 5.34x | 0.72x | -0.77x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent negative operating cash
According to recent financial disclosures, Oceanpal Inc's OCF/NI ratio of 0.10 in 2025Q2 highlights a persistent disconnect between accounting losses and cash generation, suggesting that the company's reported net income fails to capture the underlying cash burn inherent in its current marine shipping operations.
The consistent inability to convert earnings into positive operating cash flow suggests that the business model is structurally challenged by high fixed costs. Investors should monitor whether the reliance on non-cash adjustments continues to mask the fundamental cash-generative weakness of the fleet.
As reported in quarterly filings, Oceanpal Inc's FCF margin of -17.4% in 2025Q2 underscores a trend of sustained cash outflows, indicating that the company is currently unable to fund its operational requirements through internal cash generation without further eroding its existing liquidity position.
The negative FCF trajectory appears to be a direct consequence of the company's inability to achieve scale in a volatile shipping environment. This trend warrants further investigation into how long the current cash reserves can support such persistent operational deficits.
Based on Oceanpal Inc's reported figures, the company continued to pay dividends of $593.5K in 2025Q2 despite generating negative operating cash flow, a practice that appears to prioritize shareholder returns over the preservation of capital during a period of significant operational distress.
The decision to distribute cash while the core business is burning liquidity may indicate a disconnect between capital allocation strategy and operational reality. This approach risks further weakening the balance sheet if the current negative cash flow trend persists without a recovery in shipping rates.
Data from recent SEC filings reveals that Oceanpal Inc recorded $694.5K in stock-based compensation during 2025Q2, which effectively obscures the true magnitude of the company's cash burn by shifting expenses away from cash-based outflows while diluting existing shareholders in a period of negative performance.
The reliance on equity-based incentives during a period of operational contraction suggests that management may be attempting to preserve cash at the expense of shareholder equity. Analysts should consider the impact of this dilution when evaluating the long-term sustainability of the company's current capital structure.
Quick answers to the most common questions about buying SVRN stock.
Oceanpal Inc (SVRN) generated $-3.5M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
Oceanpal Inc (SVRN) reported negative free cash flow of $22.4M in 2024, indicating capital requirements exceeded cash from operations.
Oceanpal Inc (SVRN) spent $18.9M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2024, Oceanpal Inc (SVRN) returned $1.6M to shareholders via cash dividends. This shows the company's commitment to returning capital to its equity investors.