Latest Ratios: P/E Ratio -3.7x · EV/EBITDA 7.0x · ROE -10.6%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $25M | $15M | $15M | $21M | $32M | — | — |
| Enterprise Value | $75M | $66M | $106M | $103M | $20M | — | — |
| P/E Ratio → | -3.69 | — | — | 163.58 | 0.89 | — | — |
| P/S Ratio | 0.65 | 0.40 | 0.33 | 0.57 | 1.41 | — | — |
| P/B Ratio | 0.41 | 0.27 | 0.25 | 0.31 | 0.50 | — | — |
| P/FCF | 16.91 | 10.36 | 5.00 | — | — | — | — |
| P/OCF | 11.13 | 6.81 | 4.62 | — | 4.08 | — | — |
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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.74 | 2.34 | 2.85 | 0.88 | — | — |
| EV / EBITDA | 7.02 | 6.13 | 7.66 | 7.25 | 0.47 | — | — |
| EV / EBIT | — | 317.62 | 25.21 | — | 0.51 | — | — |
| EV / FCF | — | 45.19 | 35.28 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 16.5% | 16.5% | 52.6% | 9.0% | 45.9% | 52.3% | 22.8% |
| Operating Margin | -0.2% | -0.2% | 10.6% | 19.6% | 177.8% | 39.4% | 7.3% |
| Net Profit Margin | -16.4% | -16.4% | -7.4% | 0.6% | 164.5% | 29.3% | 26.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -10.6% | -10.6% | -5.4% | 0.3% | 104.7% | 30.2% | 14.9% |
| ROA | -4.0% | -4.0% | -2.0% | 0.1% | 53.9% | 15.9% | 7.8% |
| ROIC | -0.0% | -0.0% | 2.4% | 5.3% | 94.8% | 17.7% | — |
| ROCE | -0.1% | -0.1% | 3.7% | 6.4% | 72.5% | 24.2% | 2.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.15 | 1.15 | 1.63 | 1.46 | 0.66 | 0.76 | 0.83 |
| Debt / EBITDA | 6.04 | 6.04 | 7.03 | 6.77 | 1.00 | 1.47 | 5.74 |
| Net Debt / Equity | — | 0.90 | 1.52 | 1.25 | -0.19 | 0.66 | 0.78 |
| Net Debt / EBITDA | 4.72 | 4.72 | 6.57 | 5.79 | -0.29 | 1.26 | 5.36 |
| Debt / FCF | — | 34.83 | 30.29 | — | — | 1.28 | — |
| Interest Coverage | 0.03 | 0.03 | 0.50 | -0.66 | 16.12 | 3.75 | 2.38 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 0.68 | 0.68 | 0.73 | 0.36 | 2.37 | 0.48 | 0.44 |
| Quick Ratio | 0.67 | 0.67 | 0.71 | 0.35 | 2.37 | 0.43 | 0.39 |
| Cash Ratio | 0.29 | 0.29 | 0.19 | 0.26 | 2.17 | 0.37 | 0.35 |
| Asset Turnover | — | 0.27 | 0.26 | 0.21 | 0.18 | 0.55 | 0.30 |
| Inventory Turnover | 86.88 | 86.88 | 33.10 | 49.41 | 115.21 | 35.48 | 58.79 |
| Days Sales Outstanding | — | 17.46 | 11.54 | 3.99 | 12.48 | 3.45 | — |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.9% | 7.4% | 17.5% | 45.4% | 0.8% | — | — |
| Payout Ratio | — | — | — | 4237.1% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 0.6% | 111.8% | — | — |
| FCF Yield | 5.9% | 9.7% | 20.0% | — | — | — | — |
| Buyback Yield | 0.8% | 1.4% | 3.1% | 3.3% | 18.7% | — | — |
| Total Shareholder Yield | 5.7% | 8.8% | 20.6% | 48.6% | 19.4% | — | — |
| Shares Outstanding | — | $9M | $9M | $8M | $7M | $12M | $12M |
Spot market rate volatility
According to recent market data, USEA trades at a P/B ratio of 0.42, which suggests that investors are pricing the company significantly below its net asset value, likely reflecting deep skepticism regarding the firm's ability to generate sustainable operational returns from its current dry bulk fleet.
The negative P/E of -3.81 confirms that the market is not valuing the company based on earnings, but rather as a distressed asset play. This valuation gap implies that the market views the current fleet as a wasting asset rather than a going concern capable of long-term value creation.
Based on reported financial statements, the company's ROIC has struggled to maintain positive territory, falling to -0.5% in 2025Q4, which indicates that the firm is failing to earn a return on its invested capital that exceeds the cost of maintaining its aging vessel assets.
The volatility in ROE, which swung from 14.0% in 2023Q3 to -6.4% in 2025Q4, highlights the lack of compounding power in the business model. This inconsistency suggests that capital allocation is driven by opportunistic vessel sales rather than the efficient deployment of capital into high-yielding shipping operations.
As indicated by recent quarterly filings, the company's asset turnover ratio of 0.05 in 2025Q4 reflects a significant decline in operational efficiency, suggesting that the firm is struggling to generate sufficient revenue relative to its remaining asset base in a highly competitive dry bulk market.
The erratic nature of the cash conversion cycle, which shifted from -35 days in 2024Q2 to -11 days in 2025Q4, points to inconsistent management of voyage-related payables and receivables. This lack of stability in working capital management warrants further investigation into the company's ability to optimize its cash flow.
According to the 2025Q4 balance sheet, the current ratio of 0.68 indicates a tightening liquidity position that may leave the company vulnerable to sudden operational shocks, especially given the capital-intensive nature of maintaining compliance for its dry bulk vessels in a volatile rate environment.
The quick ratio of 0.67 suggests that the company has minimal liquid assets to cover its short-term obligations, leaving little room for error if charter rates remain depressed. Investors should monitor whether this liquidity constraint forces management to pursue further dilutive equity financing to maintain operations.
As reported in financial filings, the P/E ratio is frequently misapplied to USEA, as the company's earnings are heavily distorted by non-recurring gains from vessel sales, which obscures the underlying reality that the core shipping business is currently failing to achieve consistent profitability.
Analysts should instead focus on Price-to-Net Asset Value (P/NAV) to better understand the company's intrinsic value, as the P/E ratio fails to account for the cyclical nature of asset divestments. Relying on earnings multiples in this context may lead to a fundamental misunderstanding of the firm's true earning power.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying USEA stock.
United Maritime Corporation's current P/E ratio is -3.7x. The historical average is 82.2x.
United Maritime Corporation's current EV/EBITDA is 7.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.4x.
United Maritime Corporation's return on equity (ROE) is -10.6%. The historical average is 22.4%.
Based on historical data, United Maritime Corporation is trading at a P/E of -3.7x. Compare with industry peers and growth rates for a complete picture.
United Maritime Corporation's current dividend yield is 4.89%.
United Maritime Corporation has 16.5% gross margin and -0.2% operating margin.
United Maritime Corporation's Debt/EBITDA ratio is 6.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.