Saturday 17 October 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. In the quarter to June 2026, revenue grew 61.3%, EPS grew 572.7%, free cash flow grew 8,990.9% and total debt rose 33.5%, each against the same quarter a year earlier.
18.93
0.05
−0.26%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
11.90 | 3.94 | 5.20 | 4.03 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 35.71 |
Piotroski F-Score |
5 | 8 | 5 | 7 | 2 | 6 | 7 | 5 | 4 | 4 |
P/S ratio |
1.39 | 1.25 | 1.49 | 1.17 | 0.60 | 0.49 | 1.30 | 0.73 | 1.38 | 1.38 |
Altman Z-Score |
2.73 | 4.79 | 3.78 | 2.81 | 0.16 | 0.44 | 0.69 | 0.36 | 0.63 | 0.61 |
Altman Z″-Score (non-manufacturers) |
6.21 | 9.45 | 6.19 | 4.44 | 0.31 | 0.94 | 0.91 | 0.71 | 1.09 | 1.34 |
P/FCF ratio |
0.00 | 4.01 | 4.23 | 3.24 | 26.17 | 4.32 | 6.72 | 0.00 | 15.02 | 0.00 |
Beneish M-Score |
(3.08) | (2.61) | (2.78) | (0.56) | (1.90) | (3.10) | (2.79) | (2.40) | (1.74) | (2.73) |
P/Operating CF |
16.41 | 22.03 | 31.38 | 8.56 | (179.51) | (132.32) | 41.63 | 78.50 | 41.95 | 22.44 |
Dividend Safety Score |
41 | — | — | — | — | — | — | — | — | — |
P/B ratio |
0.68 | 0.83 | 1.09 | 1.11 | 0.39 | 0.34 | 0.92 | 0.44 | 0.71 | 0.56 |
Price to Tangible BV |
0.68 | 0.83 | 1.09 | 1.11 | 0.39 | 0.34 | 0.92 | 0.44 | 0.71 | 0.56 |
EV/Sales |
1.65 | 1.23 | 1.59 | 1.43 | 2.13 | 2.00 | 2.84 | 2.57 | 3.44 | 3.85 |
EV/EBITDA |
5.86 | 3.06 | 3.91 | 3.28 | 22.04 | 7.49 | 11.69 | 15.98 | 13.84 | 10.50 |
EV/Operating CF |
6.28 | 3.12 | 3.94 | 5.13 | (141.85) | 9.55 | 31.89 | 57.33 | 36.64 | 14.83 |
EV/FCF |
(15.59) | 3.96 | 4.52 | 3.97 | 93.50 | 17.47 | 14.66 | (68.18) | 37.42 | (7.98) |
Quick Ratio |
3.65 | 3.62 | 3.05 | 2.56 | 1.30 | 1.21 | 1.35 | 1.12 | 1.15 | 1.34 |
Current Ratio |
4.33 | 4.24 | 3.75 | 2.98 | 1.61 | 1.63 | 1.62 | 1.45 | 1.44 | 1.59 |
Net Debt/EBITDA |
0.92 | (0.05) | 0.25 | 0.60 | 15.87 | 5.64 | 6.32 | 11.44 | 8.28 | 6.75 |
Debt/Assets |
16.10% | 5.50% | 12.68% | 23.82% | 48.37% | 51.83% | 52.43% | 52.56% | 52.44% | 52.30% |
Debt/Equity |
0.20 | 0.06 | 0.16 | 0.37 | 1.20 | 1.22 | 1.24 | 1.28 | 1.16 | 1.14 |
Asset Turnover |
0.42 | 0.58 | 0.56 | 0.62 | 0.26 | 0.29 | 0.28 | 0.25 | 0.23 | 0.20 |
Operating CF/Net income |
2.26 | 1.25 | 1.41 | 0.92 | 0.08 | (7.62) | (0.90) | (0.22) | (1.47) | 11.38 |
Capex/Depreciation |
(2.83) | (0.98) | (0.63) | 1.03 | 0.19 | (0.52) | 0.61 | (0.40) | (0.01) | (3.36) |
Interest Coverage |
7.72 | 18.93 | 11.23 | 10.26 | (1.23) | 1.02 | 0.60 | (0.35) | 0.40 | 1.35 |
| 5.81% | 22.46% | 22.53% | 35.48% | (12.44%) | (1.87%) | (6.80%) | (11.80%) | (3.18%) | 1.00% | |
| 4.83% | 18.43% | 16.03% | 18.65% | (5.16%) | (0.79%) | (2.83%) | (5.08%) | (1.44%) | 0.45% | |
ROIC |
4.13% | 13.38% | 13.85% | 17.00% | (2.12%) | 1.78% | 1.49% | (0.82%) | 0.68% | 1.85% |
Return on Tangible Assets |
4.98% | 20.02% | 18.38% | 21.23% | (5.96%) | (0.90%) | (3.27%) | (5.68%) | (1.61%) | 0.46% |
Average Days of Receivables |
55.94 | 54.75 | 51.83 | 65.38 | 38.50 | 29.54 | 47.73 | 47.69 | 50.79 | 51.58 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
8.08% | 6.91% | 5.19% | 5.41% | 9.97% | 8.14% | 7.89% | 7.55% | 7.45% | 8.56% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.91% | 1.15% | 0.81% | 0.69% | 1.36% | 1.36% | 1.01% | 0.78% | 0.23% | 0.79% |
Graham Net Nets |
(0.10) | 0.06 | (0.05) | (0.19) | (2.95) | (3.03) | (1.16) | (2.53) | (1.41) | (1.71) |
Graham Number |
17.68 | 31.79 | 28.43 | 31.37 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 7.96 |
Earnings Yield |
8.40% | 25.35% | 19.23% | 24.84% | (33.14%) | (5.50%) | (7.62%) | (27.84%) | (4.69%) | 2.80% |
Free Cash Flow Yield |
(7.65%) | 24.95% | 23.64% | 30.82% | 3.82% | 23.17% | 14.87% | (5.17%) | 6.66% | (35.06%) |
Revenue per Share |
7.64 | 9.74 | 9.63 | 11.97 | 5.68 | 6.62 | 6.95 | 6.40 | 5.86 | 5.45 |
Operating CF per Share |
2.01 | 3.85 | 3.88 | 3.34 | (0.09) | 1.39 | 0.62 | 0.29 | 0.55 | 1.41 |
Capex per Share |
(2.82) | (0.82) | (0.50) | 0.97 | 0.21 | (0.63) | 0.73 | (0.53) | (0.01) | (4.04) |
Free Cash Flow per Share |
(0.81) | 3.03 | 3.38 | 4.31 | 0.13 | 0.76 | 1.35 | (0.24) | 0.54 | (2.63) |
Cash per Share |
1.15 | 1.13 | 1.14 | 1.49 | 1.65 | 1.76 | 1.56 | 1.73 | 1.18 | 1.86 |
Shareholders Equity per Share |
15.61 | 14.59 | 13.07 | 12.61 | 8.62 | 9.64 | 9.85 | 10.55 | 11.39 | 13.41 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
15.61 | 14.59 | 13.07 | 12.61 | 8.62 | 9.64 | 9.85 | 10.55 | 11.39 | 13.41 |
Free Cash Flow |
(32.90) | 126.25 | 139.05 | 160.31 | 4.38 | 25.19 | 44.54 | (7.93) | 18.03 | (79.25) |
Working Capital |
86.00 | 96.72 | 92.94 | 104.81 | 35.72 | 39.64 | 37.59 | 33.93 | 25.63 | 34.75 |
Capital Expenditures |
(114.55) | (34.19) | (20.56) | 36.10 | 7.26 | (20.90) | 24.07 | (17.35) | (0.38) | (121.89) |
Net Current Asset Value |
(42.54) | 29.39 | (26.77) | (96.72) | (338.36) | (329.13) | (348.36) | (388.71) | (380.68) | (385.61) |
EV/EBIT |
10.87 | 3.90 | 4.91 | 4.00 | 0.00 | 23.66 | 40.38 | 0.00 | 79.27 | 26.35 |
Capex to Sales |
0.37 | 0.08 | 0.05 | (0.08) | (0.04) | 0.10 | (0.10) | 0.08 | 0.00 | 0.74 |
Price to Operating Income |
9.12 | 3.95 | 4.59 | 3.26 | 0.00 | 5.84 | 18.53 | 0.00 | 31.82 | 9.42 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.06 | 0.06 | 0.06 | 0.07 | 0.06 | 0.06 | 0.06 | 0.06 | 0.05 | 0.05 |
Cash ROIC |
(4.07%) | 18.21% | 20.70% | 22.99% | 0.63% | 3.28% | 5.69% | (0.94%) | 2.09% | (8.59%) |
Accounts Receivable Turnover |
5.72 | 6.93 | 5.82 | 8.90 | 10.10 | 9.19 | 8.00 | 7.68 | 7.76 | 6.65 |
Accounts Payable Turnover |
35.66 | 53.32 | 39.88 | 26.30 | 17.66 | 20.86 | 23.70 | 13.37 | 8.88 | 6.95 |
Inventory Turnover |
19.64 | 18.07 | 15.27 | 17.06 | 14.63 | 14.21 | 13.81 | 14.72 | 15.98 | 16.54 |
Average Days of Payables |
9.31 | 10.28 | 3.41 | 14.06 | 20.03 | 22.94 | 11.02 | 19.00 | 43.34 | 56.39 |
Days of Inventory on Hand |
16.38 | 19.15 | 21.23 | 25.08 | 25.90 | 25.83 | 23.38 | 28.31 | 25.92 | 28.64 |
Average Receivables |
54.20 | 58.55 | 68.04 | 50.07 | 19.06 | 23.95 | 28.77 | 27.36 | 25.25 | 24.72 |
Average Payables |
5.57 | 4.04 | 5.42 | 8.70 | 8.85 | 6.96 | 6.69 | 12.35 | 15.28 | 13.47 |
Average Inventory |
10.11 | 11.93 | 14.14 | 13.41 | 10.68 | 10.22 | 11.49 | 11.22 | 8.49 | 5.65 |
Average Assets |
746.76 | 697.88 | 707.41 | 724.20 | 738.27 | 762.22 | 808.60 | 845.15 | 864.59 | 830.92 |
Average Common Equity |
620.99 | 572.52 | 503.40 | 380.68 | 306.14 | 323.20 | 336.32 | 363.78 | 392.62 | 375.94 |
Columns are period end dates