Pricing Log in Create free account
Friday 6 November 2026 Export ASC’s income statement to Excel — free account

Ardmore Shipping Corporation

ASC Industrials Marine Shipping

Ardmore Shipping Corporation’s revenue for fiscal 2025 (year ended December 2025) was $310.2 million, down 23.6% from fiscal 2024.

Revenue
+7.96%
EPS
+33.4%
Free cash flow
+103.6%
Total debt
−47.3%

Quarter to September 2026, against a year earlier

17.36 0.27 +1.58%
Market cap
$698.2M
P/E
6.4×
Fwd P/E
4.7×
Dividend yield
8.02%
F-score
5/9
Altman Z
2.73
Beneish M
−3.08
Dividend safety
41/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 1.13
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — 7 — — — — — —
Insider Ownership 15.50%

Capital & Financial Ratios $m

Size
Market Cap 698.15
Revenue ttm 374.75
Net income ttm 112.82
Free cash flow ttm 143.09
Net debt Q 13.73
Valuation
P/E 6.35
Forward P/E 4.71
Price / sales 1.86
Forward P/S Powerpack
Price / FCF 4.88
Price / book 1.02
Financial health
Current ratio Q 5.26 (at or above 1.5: strong)
Debt / equity Q 0.09 (at or below 0.5: strong)
Interest coverage Q 16.57
Growth
Revenue growth Q +7.96% (above 0%: growing)
Operating income growth Q +14.58% (above 0%: growing)
EPS, this year +303.86% (at or above 15%: strong)
EPS, next year A −9.07% (below 0%: weak)
Revenue, next year A +1.55%
EPS, past 5 yrs —
EPS, next 5 yrs A +45.89% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.9×, against a ten-year median of 2.3×; over the ten years it ranged from 0.9× in 2025 to 4.0× in 2016.
P/E against its own 10 years 47.62%
10-year low 10-year high
P/S against its own 10 years 91.27%
10-year low 10-year high
P/B against its own 10 years 78.62%
10-year low 10-year high
EV/Sales against its own 10 years 33.48%
10-year low 10-year high
EV/FCF against its own 10 years 23.56%
10-year low 10-year high

Dividends

Yield
8.02%
Annual rate
1.37
Payout ratio
51.0%
Growth, 2016–25
−3.15%/yr
  1. 0.40 ’16
  2. 0.00 ’17 −100
  3. 0.00 ’19
  4. 0.05 ’20
  5. 0.00 ’21 −100
  6. 0.00 ’22
  7. 1.15 ’23
  8. 1.08 ’24 −6
  9. 0.30 ’25 −72
  10. 2.80 ’26e +833
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 47 47 47 47
Receivables 56 61 48 66
Inventory 13 11 9 14
Other 7 3 5 2
127 127 112 155
2023 2024 2025 Q'26
Payables 2 6 5 10
ST’ Debt 6 — — —
Other — — — —
34 30 26 30

Compound Annual Growth %

10y 5y 3y
Sales 6.99% 7.11% (11.38%)
Cash Flow 8.05% 12.11% (13.05%)
Earnings 1.22% 0.00% (35.60%)
Book Value 6.20% 14.64% 10.56%

Earnings Trends EPS, adjusted, against the consensus

Jun 2025 Estimate 0.18 Actual 0.22

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2024 0.53 0.55 Beat by 0.02
Dec 2024 0.21 0.25 Beat by 0.04
Mar 2025 0.15 0.14 Miss by 0.01
Jun 2025 0.18 0.22 Beat by 0.04

EPS $

Mar Jun Sep Dec Year
’26 0.58 1.48 0.40 — —
’25 0.14 0.22 0.30 0.23 0.88
’24 0.92 1.47 0.55 0.12 3.06
’23 1.04 0.57 0.49 0.63 2.71
’22 (0.23) 0.81 1.52 1.28 3.52
’21 (0.26) (0.24) (0.37) (0.25) (1.12)
’20 0.20 0.41 (0.20) (0.59) (0.18)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 88 116 88 — —
’25 74 72 81 83 310
’24 106 121 96 82 406
’23 118 92 87 99 396
’22 63 107 142 133 446
’21 46 47 47 52 192
’20 65 68 45 42 220
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 29 53 22 — —
’25 26 11 18 26 82
’24 49 48 40 23 160
’23 57 42 42 19 160
’22 (6) 15 55 61 124
’21 (1) 1 (3) (1) (3)
’20 12 19 16 (1) 46
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 28 87 3 — —
’25 24 (1) (81) 25 (33)
’24 36 32 39 20 126
’23 51 44 33 10 139
’22 (6) 28 79 59 160
’21 8 1 (3) (1) 4
’20 11 19 (3) (2) 25
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 164 196 210 230 220 192 446 396 406 310 375 +7.3% 315 302 — (1.3%)
Gross margin, % 43.11 30.78 21.42 31.05 34.03 18.78 48.68 45.47 46.87 36.00 46.92 (7.1) pt
EBT 4 (12) (43) (23) (6) (36) 139 118 138 42 113 +30.4%
EBT margin, % 2.32 (6.34) (20.35) (9.91) (2.66) (18.89) 31.15 29.87 33.94 13.40 30.18 +11.1 pt
Net income 4 (12) (43) (23) (6) (37) 138 117 133 41 113 +30.5%
Per share, $
Per share, $ Revenue 5.45 5.86 6.40 6.95 6.62 5.68 11.97 9.63 9.74 7.64 9.17 +3.8%
Earnings 0.12 (0.37) (1.31) (0.69) (0.18) (1.12) 3.63 2.76 3.09 0.89 2.69 +24.9%
Cash flow 1.41 0.55 0.29 0.62 1.39 (0.09) 3.34 3.88 3.85 2.01 3.19 +4.0%
Capex (4.04) (0.01) (0.53) 0.73 (0.63) 0.21 0.97 (0.50) (0.82) (2.82) 0.32 (3.9%)
Free cash flow (2.63) 0.54 (0.24) 1.35 0.76 0.13 4.31 3.38 3.03 (0.81) 3.50 (12.3%)
Book value 13.41 11.39 10.55 9.85 9.64 8.62 12.61 13.07 14.59 15.61 16.76 +1.7%
Shares, m 30 33 33 33 33 34 37 41 42 41 41 +3.4%
Valuation, ×
Valuation, × P/E 35.71 0.00 0.00 0.00 0.00 0.00 4.03 5.20 3.94 11.90 6.35 6.1
P/S 1.38 1.38 0.73 1.30 0.49 0.60 1.17 1.49 1.25 1.39 1.86 1.1
P/B 0.56 0.71 0.44 0.92 0.34 0.39 1.11 1.09 0.83 0.68 1.02 0.7
EV/Sales 3.85 3.44 2.57 2.84 2.00 2.13 1.43 1.59 1.23 1.65 1.91 2.3
EV/FCF (7.98) 37.42 (68.18) 14.66 17.47 93.50 3.97 4.52 3.96 (15.59) 4.99 8.4
Cash, $m
Cash, $m Operating cash flow 43 18 9 20 46 (3) 124 160 160 82 130 +7.5%
Capex (122) 0 (17) 24 (21) 7 36 (21) (34) (115) 13 (0.7%)
Free cash flow (79) 18 (8) 45 25 4 160 139 126 (33) 143 (9.3%)
Balance, $m
Balance, $m Working capital 35 26 34 38 40 36 105 93 97 86 126 +10.6%
Net debt 406 404 387 353 331 295 117 41 (8) 80 14 (16.5%)
Shareholders’ equity 404 381 347 326 320 292 469 537 608 634 685 +5.1%
Returns, %
Returns, % ROA 0.45 (1.44) (5.08) (2.83) (0.79) (5.16) 18.65 16.03 18.43 4.83 13.93 +4.4 pt
ROIC 1.85 0.68 (0.82) 1.49 1.78 (2.12) 17.00 13.85 13.38 4.13 9.58 +2.3 pt
ROE 1.00 (3.18) (11.80) (6.80) (1.87) (12.44) 35.48 22.53 22.46 5.81 16.72 +4.8 pt
People
People Employees 1,027 1,151 1,128 1,105 1,101 1,047 991 834 880 940 — (1.0%)
Revenue/emp, $m 0.16 0.17 0.19 0.21 0.20 0.18 0.45 0.47 0.46 0.33 — +8.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Ardmore Shipping Corporation vs peers in Marine Shipping (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CCEC Capital Clean Energy Carriers Corp. $1.3B 11.1× 11.5× +8.46% (above 0%: growing) −5.88% (below 0%: shrinking) −2,376.31% (below 0%: shrinking) 78.04% 50.63% Compare
HOS Hornbeck Offshore Services Inc $1.2B 19.9× 6.1× +0.57% (above 0%: growing) n/m +320.12% (above 0%: growing) 18.49% 8.79% Compare
GNK Genco Shipping & Trading Limited $1.1B 14.0× 10.6× +90.01% (above 0%: growing) n/m +2,052.95% (above 0%: growing) 0.00% 29.14% Compare
SB Safe Bulkers, Inc $803.7M 9.1× 7.1× +33.04% (above 0%: growing) n/m −35.33% (below 0%: shrinking) 65.78% 45.75% Compare
HSHP Himalaya Shipping Ltd. $704.7M 13.3× 8.8× +79.60% (above 0%: growing) +2,500.00% (above 0%: growing) +312.05% (above 0%: growing) 85.47% 68.34% Compare
ASC Ardmore Shipping Corporation $698.2M 6.4× 4.7× +7.96% (above 0%: growing) +33.40% (above 0%: growing) +103.64% (above 0%: growing) 38.73% 19.69%
PANL Pangaea Logistics Solutions Ltd. $482.5M 6.4× 9.1× +29.87% (above 0%: growing) +210.53% (above 0%: growing) +76.28% (above 0%: growing) 0.00% 19.90% Compare
CMDB Costamare Bulkers Holdings Limited $432.3M 10.7× — — — −166.66% (below 0%: shrinking) 37.19% 6.44% Compare
ESEA Euroseas Ltd. $415.7M 3.3× 3.5× −1.28% (below 0%: shrinking) +10.42% (above 0%: growing) −70.14% (below 0%: shrinking) 78.65% 59.18% Compare
Median of peers $754.2M 10.9× 8.8× +29.87% +110.48% +20.48% 51.49% 37.45%

All 38 Marine Shipping stocks →

Ardmore Shipping Corporation (ASC) Latest News

3 Nov

Impact 3 · · Moby
Impact 3 · · GuruFocus.com
Impact 3 · · MarketBeat transcript
Impact 3 · · The Motley Fool transcript
Impact 3 · · PR Newswire

27 Aug

Impact 3 ·

7 Aug

Impact 3 · · The Motley Fool transcript

30 Jul

Impact 3 · · Moby

29 Jul

Impact 4 ·
Impact 3 · · MarketBeat transcript
Impact 3 ·

16 Jul

Impact 3 ·

16 Jun

Impact 3 ·

1 Jun

Impact 3 · · The Motley Fool transcript

27 May

Impact 3 · · TheStreet

9 May

Impact 3 · · MarketBeat

7 May

Impact 3 · · Moby
Impact 3 · · PR Newswire

29 Apr

Impact 4 · · PR Newswire

9 Mar

Impact 4 · · Insider Monkey

28 Feb

Impact 5 · · Barrons.com

12 Feb

Impact 4 · · Moby transcript
Impact 4 · · MarketBeat transcript
Impact 4 · · Associated Press Finance
Impact 3 · · PR NewswireSimply Wall St.GuruFocus.comMT NewswiresZacksMotley FoolMT NewswiresMT Newswires

30 Jan

Impact 3 · · GlobeNewswire

29 Jan

Impact 3 · · PR Newswire
Impact 3 · · Simply Wall St.

16 Jan

Impact 4 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

26 Dec

Impact 3 · · Simply Wall St.
stockrow.com/ASC · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com