United Maritime Corporation(USEA)Earnings, Financials & Key Ratios
USEA•NASDAQ
$2.32
$21M mkt cap·Price updated May 6, 2026
AboutUnited Maritime Corporation, a shipping company, provides seaborne transportation services worldwide. It owns one Capesize dry bulk vessel having a carrying capacity of 171,314 deadweight tons. The company was incorporated in 2022 and is based in Glyfada, Greece. United Maritime Corporation operates independently of Seanergy Maritime Holdings Corp. as of July 5, 2022.Show more
- Revenue$45M+26.0%
- EBITDA$14M-2.0%
- Net Income-$3M-1630.8%
- EPS (Diluted)-0.39-2682.8%
- Gross Margin52.65%+482.7%
- EBITDA Margin30.58%-22.2%
- Operating Margin10.6%-46.0%
- Net Margin-7.45%-1315.1%
- ROE-5.37%-1685.0%
- ROIC2.41%-54.4%
- Debt/Equity1.63+11.6%
- Interest Coverage0.57-41.9%
USEA Key Insights
United Maritime Corporation (USEA) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 33.2%
- ✓Healthy 5Y average net margin of 42.7%
- ✓Trading near 52-week high
- ✓Trading at only 0.3x book value
✗Weaknesses
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
USEA Price & Volume
United Maritime Corporation (USEA) stock price & volume — 10-year historical chart
Loading chart...
USEA Growth Metrics
United Maritime Corporation (USEA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years83.16%
TTM-8.96%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-86.98%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-89.39%
Return on Capital
10 Years21.81%
5 Years21.81%
3 Years27.51%
Last Year3.7%
USEA Peer Comparison
United Maritime Corporation (USEA) competitors in Dry Bulk Shipping — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 SBLK | 3.1B | 26.90 | 36.85 | -17.62% | 8.07% | 3.44% | 0.44 | |
 NMM | 2.11B | 73.25 | 6.11 | 2.08% | 19.95% | 8.09% | 0.46 | |
 SB | 728.6M | 6.92 | 8.34 | 8.17% | 16.78% | 5.58% | 0.65 | |
 SHIP | 333.81M | 15.81 | 15.65 | -5.59% | 9.74% | 5.29% | 1.03 | |
 GNK | 1.1B | 25.50 | -255 | -19.14% | 8.12% | 4.19% | 0.22 | |
 CTRM | 78.65M | 2.03 | 2.33 | -32.07% | -65.41% | -8.02% | 0.18 | |
 TOPS | 9.95M | 2.15 | 1.97 | 3.83% | 1.19% | 0.8% | 1.74 | |
 GLBS | 43.84M | 2.13 | -25.21 | 26.77% | -3.95% | -1% | 0.62 |
Compare USEA vs Peers
United Maritime Corporation (USEA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
USEA Income Statement
United Maritime Corporation (USEA) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Sales/Revenue | 4.12M | 7.4M | 22.78M | 36.07M | 45.44M | 42.02M |
| Revenue Growth % | - | 79.32% | 208.09% | 58.3% | 25.99% | -8.96% |
| Cost of Goods Sold | 3.18M | 3.52M | 12.33M | 32.81M | 21.52M | 32.64M |
| COGS % of Revenue | 77.17% | 47.66% | 54.1% | 90.96% | 47.35% | - |
| Gross Profit | 941.43K▲ 0% | 3.87M▲ 311.2% | 10.46M▲ 170.2% | 3.26M▼ 68.8% | 23.92M▲ 634.1% | 9.38M▲ 0% |
| Gross Margin % | 22.83% | 52.34% | 45.9% | 9.04% | 52.65% | 22.33% |
| Gross Profit Growth % | - | 311.16% | 170.15% | -68.83% | 634.06% | - |
| Operating Expenses | 640.46K | 955.65K | -30.05M | -3.82M | 19.11M | 7.03M |
| OpEx % of Revenue | 15.53% | 12.92% | -131.87% | -10.59% | 42.05% | - |
| Selling, General & Admin | 300.7K | 613.4K | 5.52M | 7.98M | 6.27M | 3.85M |
| SG&A % of Revenue | 7.29% | 8.29% | 24.25% | 22.14% | 13.81% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 339.75K | 342.25K | -35.57M | -11.8M | 12.83M | 2.78M |
| Operating Income | 300.97K▲ 0% | 2.92M▲ 868.6% | 40.5M▲ 1289.4% | 7.08M▼ 82.5% | 4.82M▼ 31.9% | 2.35M▲ 0% |
| Operating Margin % | 7.3% | 39.42% | 177.77% | 19.63% | 10.6% | 5.6% |
| Operating Income Growth % | - | 868.58% | 1289.36% | -82.52% | -31.94% | - |
| EBITDA | 1.06M | 3.67M | 42.41M | 14.18M | 13.9M | 6.72M |
| EBITDA Margin % | 25.7% | 49.65% | 186.12% | 39.32% | 30.58% | 16% |
| EBITDA Growth % | - | 246.47% | 1054.84% | -66.56% | -2% | -61.67% |
| D&A (Non-Cash Add-back) | 758.84K | 756.76K | 1.9M | 7.1M | 9.08M | 3.99M |
| EBIT | 1.68M | 2.79M | 39.53M | -4.72M | 4.22M | 727K |
| Net Interest Income | -708.45K | -743.69K | -2.44M | -6.64M | -8.1M | -7.24M |
| Interest Income | 0 | 0 | 13K | 542K | 314K | 163K |
| Interest Expense | 708.45K | 743.69K | 2.45M | 7.18M | 8.42M | 7.4M |
| Other Income/Expense | 790.24K | -744.9K | -3.01M | -6.86M | -8.2M | -6.62M |
| Pretax Income | 1.09M▲ 0% | 2.17M▲ 98.9% | 37.49M▲ 1627.4% | 221K▼ 99.4% | -3.38M▼ 1630.8% | -4.26M▲ 0% |
| Pretax Margin % | 26.46% | 29.35% | 164.55% | 0.61% | -7.45% | -10.14% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | 1.09M▲ 0% | 2.17M▲ 98.9% | 37.49M▲ 1627.4% | 221K▼ 99.4% | -3.38M▼ 1630.8% | -4.28M▲ 0% |
| Net Margin % | 26.46% | 29.35% | 164.55% | 0.61% | -7.45% | -10.18% |
| Net Income Growth % | - | 98.88% | 1627.44% | -99.41% | -1630.77% | -86.98% |
| Net Income (Continuing) | 1.09M | 2.17M | 37.49M | 221K | -3.38M | -4.26M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.09▲ 0% | 1.44▲ 1523.4% | 4.92▲ 241.7% | 0.02▼ 99.7% | -0.39▼ 2682.8% | -0.48▲ 0% |
| EPS Growth % | - | 1523.45% | 241.67% | -99.69% | -2682.78% | -89.39% |
| EPS (Basic) | 0.09 | 1.44 | 7.79 | 0.02 | -0.39 | - |
| Diluted Shares Outstanding | 12.31M | 12.31M | 7.3M | 8.36M | 8.71M | 8.92M |
| Basic Shares Outstanding | 12.31M | 12.31M | 9.11M | 8.36M | 8.71M | 8.92M |
| Dividend Payout Ratio | - | - | - | 4237.1% | - | - |
USEA Balance Sheet
United Maritime Corporation (USEA) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Total Current Assets | 507.47K | 994.27K | 59.81M | 19.09M | 24.48M | 20.12M |
| Cash & Short-Term Investments | 406.01K | 765.48K | 54.73M | 13.8M | 6.41M | 20.12M |
| Cash Only | 406.01K | 765.48K | 54.73M | 13.8M | 6.41M | 20.12M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 70K | 779K | 394K | 1.44M | 0 |
| Days Sales Outstanding | - | 3.45 | 12.48 | 3.99 | 11.54 | 5.94 |
| Inventory | 54.13K | 99.33K | 107K | 664K | 650K | 0 |
| Days Inventory Outstanding | 6.21 | 10.29 | 3.17 | 7.39 | 11.03 | 5.32 |
| Other Current Assets | 0 | 0 | 3.21M | 3.69M | 15.38M | 0 |
| Total Non-Current Assets | 13.44M | 12.44M | 65.84M | 155.72M | 147.75M | 124.07M |
| Property, Plant & Equipment | 13.04M | 12.28M | 50.2M | 152.53M | 138.15M | 102.79M |
| Fixed Asset Turnover | 0.32x | 0.60x | 0.45x | 0.24x | 0.33x | 0.33x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 155.55M | 700K | 3.59M | 16.17M |
| Other Non-Current Assets | 399.68K | 155.55K | -139.91M | 2.49M | 6.01M | 47.68M |
| Total Assets | 13.94M▲ 0% | 13.43M▼ 3.7% | 125.66M▲ 835.6% | 174.81M▲ 39.1% | 172.07M▼ 1.6% | 144.2M▲ 0% |
| Asset Turnover | 0.30x | 0.55x | 0.18x | 0.21x | 0.26x | 0.26x |
| Asset Growth % | - | -3.69% | 835.62% | 39.12% | -1.56% | -31.56% |
| Total Current Liabilities | 1.15M | 2.08M | 25.21M | 53.09M | 33.52M | 0 |
| Accounts Payable | 118.29K | 268.43K | 3.02M | 3.31M | 1.82M | 0 |
| Days Payables Outstanding | 13.57 | 27.8 | 89.36 | 36.8 | 30.93 | 16.59 |
| Short-Term Debt | 704.88K | 1.18M | 7.47M | 8.69M | 17.65M | 0 |
| Deferred Revenue (Current) | 123.14K | 326.37K | 1.03M | 527K | 1.4M | 1.4M |
| Other Current Liabilities | 0 | 0 | 8.2M | 0 | 663K | 0 |
| Current Ratio | 0.44x | 0.48x | 2.37x | 0.36x | 0.73x | 0.73x |
| Quick Ratio | 0.39x | 0.43x | 2.37x | 0.35x | 0.71x | 0.71x |
| Cash Conversion Cycle | - | -14.06 | -73.71 | -25.43 | -8.36 | -5.33 |
| Total Non-Current Liabilities | 5.48M | 4.31M | 35.87M | 55.84M | 78.47M | 83.12M |
| Long-Term Debt | 5.38M | 4.2M | 35.13M | 55.84M | 61.1M | 66.95M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 16.94M | 16.94M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 98.39K | 104.55K | 739K | 0 | 428K | 36.4M |
| Total Liabilities | 6.63M | 6.39M | 61.09M | 108.94M | 111.98M | 83.12M |
| Total Debt | 6.09M | 5.38M | 42.61M | 95.95M | 97.72M | 66.95M |
| Net Debt | 5.68M | 4.62M | -12.13M | 82.15M | 91.31M | 46.83M |
| Debt / Equity | 0.83x | 0.76x | 0.66x | 1.46x | 1.63x | 1.63x |
| Debt / EBITDA | 5.74x | 1.47x | 1.00x | 6.77x | 7.03x | 9.96x |
| Net Debt / EBITDA | 5.36x | 1.26x | -0.29x | 5.79x | 6.57x | 6.57x |
| Interest Coverage | 0.42x | 3.92x | 16.52x | 0.99x | 0.57x | 0.10x |
| Total Equity | 7.31M▲ 0% | 7.04M▼ 3.7% | 64.57M▲ 817.1% | 65.87M▲ 2.0% | 60.09M▼ 8.8% | 61.07M▲ 0% |
| Equity Growth % | - | -3.71% | 817.11% | 2.01% | -8.78% | -30.2% |
| Book Value per Share | 0.59 | 0.57 | 8.85 | 7.88 | 6.90 | 6.85 |
| Total Shareholders' Equity | 7.31M | 7.04M | 64.57M | 65.87M | 60.09M | 61.07M |
| Common Stock | 10.31M | 7.87M | 1K | 1K | 1K | 61.07M |
| Retained Earnings | -3M | -828.3K | 29.37M | 26.95M | 20.91M | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | -4K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
USEA Cash Flow Statement
United Maritime Corporation (USEA) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Cash from Operations | -444.61K | 3.66M | 7.88M | -6.23M | 3.26M | 3.26M |
| Operating CF Margin % | -10.78% | 49.46% | 34.56% | -17.27% | 7.18% | - |
| Operating CF Growth % | - | 922.6% | 115.32% | -179.09% | 152.41% | -100% |
| Net Income | 1.09M | 2.17M | 37.49M | 221K | -3.38M | -4.28M |
| Depreciation & Amortization | 758.84K | 1.17M | 1.9M | 9.08M | 9.71M | 0 |
| Stock-Based Compensation | 0 | 0 | 2.79M | 2.52M | 779K | 420K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -1.08M | 337.12K | -34.99M | -10.67M | 4.14M | 3.84M |
| Working Capital Changes | -1.22M | -24.55K | 681K | -7.38M | -7.98M | 0 |
| Change in Receivables | 480.77K | -70K | -660K | 385K | -1.04M | 0 |
| Change in Inventory | -3.35K | -45.19K | 87K | -531K | -82K | 0 |
| Change in Payables | 0 | 0 | -2.79M | -1.57M | -1.76M | 0 |
| Cash from Investing | -10.78K | -56.07K | 6.49M | -59.14M | 7.95M | 0 |
| Capital Expenditures | -10.78K | -56.07K | -93.52M | -81.75M | -249K | 0 |
| CapEx % of Revenue | 0.26% | 0.76% | 410.46% | 226.66% | 0.55% | - |
| Acquisitions | 0 | 0 | 0 | 0 | -3.73M | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 100.01M | 22.61M | 11.93M | 0 |
| Cash from Financing | -730.95K | -3.24M | 55.57M | 9.94M | -18.95M | 0 |
| Debt Issued (Net) | -2.52M | -800K | 38.25M | 19.89M | -18.63M | 0 |
| Equity Issued (Net) | 0 | -1000K | 1000K | 1000K | -469K | 0 |
| Dividends Paid | 0 | 0 | -243K | -9.36M | -2.64M | 0 |
| Share Repurchases | 0 | -2.44M | -6M | -673K | -469K | 0 |
| Other Financing | 1.78M | 0 | -909K | -1.8M | 2.79M | 0 |
| Net Change in Cash | -1.19M▲ 0% | 359.48K▲ 130.3% | 69.93M▲ 19353.9% | -55.43M▼ 179.3% | -7.74M▲ 86.0% | 0▲ 0% |
| Free Cash Flow | -455.39K▲ 0% | 3.6M▲ 890.8% | -85.64M▼ 2478.2% | -87.98M▼ 2.7% | 3.02M▲ 103.4% | 0▲ 0% |
| FCF Margin % | -11.04% | 48.7% | -375.9% | -243.92% | 6.64% | - |
| FCF Growth % | - | 890.81% | -2478.19% | -2.72% | 103.43% | - |
| FCF per Share | -0.04 | 0.29 | -11.73 | -10.52 | 0.35 | 0.35 |
| FCF Conversion (FCF/Net Income) | -0.41x | 1.69x | 0.21x | -28.18x | -0.96x | -0.00x |
| Interest Paid | 454.58K | 642.22K | 1.74M | 6.33M | 7.6M | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 |
USEA Key Ratios
United Maritime Corporation (USEA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|
| Return on Equity (ROE) | 30.24% | 104.71% | 0.34% | -5.37% | -7.22% |
| Return on Invested Capital (ROIC) | 17.74% | 94.78% | 5.3% | 2.41% | 2.41% |
| Gross Margin | 52.34% | 45.9% | 9.04% | 52.65% | 22.33% |
| Net Margin | 29.35% | 164.55% | 0.61% | -7.45% | -10.18% |
| Debt / Equity | 0.76x | 0.66x | 1.46x | 1.63x | 1.63x |
| Interest Coverage | 3.92x | 16.52x | 0.99x | 0.57x | 0.10x |
| FCF Conversion | 1.69x | 0.21x | -28.18x | -0.96x | -0.00x |
| Revenue Growth | 79.32% | 208.09% | 58.3% | 25.99% | -8.96% |
USEA Frequently Asked Questions
United Maritime Corporation (USEA) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
United Maritime Corporation (USEA) reported $42.0M in revenue for fiscal year 2024. This represents a 919% increase from $4.1M in 2020.
United Maritime Corporation (USEA) grew revenue by 26.0% over the past year. This is strong growth.
United Maritime Corporation (USEA) reported a net loss of $4.3M for fiscal year 2024.
Dividend & Returns
Yes, United Maritime Corporation (USEA) pays a dividend with a yield of 13.08%. This makes it attractive for income-focused investors.
United Maritime Corporation (USEA) has a return on equity (ROE) of -5.4%. Negative ROE indicates the company is unprofitable.
United Maritime Corporation (USEA) generated $3.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Explore More USEA
United Maritime Corporation (USEA) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates