Saturday 17 October 2026 Export ASC’s income statement to Excel — free account

Ardmore Shipping Corporation

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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Market cap: $775.4M
P/E: 7.3×
Fwd P/E: 5.1×
Dividend yield: 7.24%
F-score: 5/9
Altman Z: 2.73
Beneish M: −3.08
Dividend safety: 41/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 1.13

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	7	—	—	—	—	—

Insider Ownership 15.41%

Capital & Financial Ratios $m

Market Cap 775.37

Revenue 368.29

Net Income 109.26

Free Cash Flow 59.27

Net Debt (14.76)

Current Ratio 5.45

Debt/Equity 0.05

P/E ratio 7.31

Fwd P/E 5.11

P/S ratio 2.10

P/B ratio 1.10

Past 5Y EPS Growth —

This Y EPS Growth 257.54%

Next Y EPS Growth (28.07%)

Next Y revenue growth (4.51%)

Next 5Y EPS Growth 5.95%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 62.29%

10-year low 10-year high

P/S against its own 10 years 96.54%

10-year low 10-year high

P/B against its own 10 years 85.96%

10-year low 10-year high

EV/Sales against its own 10 years 38.30%

10-year low 10-year high

EV/FCF against its own 10 years 48.32%

10-year low 10-year high

Dividends

Payout Ratio 0.53

Annual Dividend Rate 1.37

Annual Dividend Yield 7.24%

	total	individual payouts
2027	Powerpack
2026	2.80	0.09 0.39 0.79
2025	0.26	0.08 0.05 0.07 0.10
2024	1.08	0.21 0.31 0.38 0.18
2023	1.15	0.45 0.35 0.19 0.16
2022	Powerpack
2021	Powerpack
2020	0.05	0.05
2019	Powerpack
2017	Powerpack
2016	0.40	0.13 0.16 0.11

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	47	47	47	48
Receivables	56	61	48	55
Inventory	13	11	9	14
Other	7	3	5	2
	127	127	112	124

	2023	2024	2025	Q'26
Payables	2	6	5	6
ST’ Debt	6	—	—	—
Other	—	—	—	—
	34	30	26	23

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%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	88	116	—	—	—
’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	—	—	—
’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	—	—	—
’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.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.58	1.48	—	—	—
’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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	5.00	6.60	4.22	4.51	2.61	3.07	3.09	11.59	10.86	8.32	Analyst estimates 2026–2028 Powerpack
	High	12.69	9.05	8.75	9.79	9.20	5.43	16.32	19.41	23.44	13.85
People
People	Employees	1,027	1,151	1,128	1,105	1,101	1,047	991	834	880	940
	Revenue/emp, $m	0.16	0.17	0.19	0.21	0.20	0.18	0.45	0.47	0.46	0.33
Income, $m
Income, $m	Revenue	164	196	210	230	220	192	446	396	406	310
	Gross margin, %	43.11	30.78	21.42	31.05	34.03	18.78	48.68	45.47	46.87	36.00
	EBT	4	(12)	(43)	(23)	(6)	(36)	139	118	138	42
	EBT margin, %	2.32	(6.34)	(20.35)	(9.91)	(2.66)	(18.89)	31.15	29.87	33.94	13.40
	Net income	4	(12)	(43)	(23)	(6)	(37)	138	117	133	41
	Depreciation	36	40	43	40	40	38	35	33	35	40
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
	Earnings	0.12	(0.37)	(1.31)	(0.69)	(0.18)	(1.12)	3.63	2.76	3.09	0.89
	Cash flow	1.41	0.55	0.29	0.62	1.39	(0.09)	3.34	3.88	3.85	2.01
	Capex	(4.04)	(0.01)	(0.53)	0.73	(0.63)	0.21	0.97	(0.50)	(0.82)	(2.82)
	Free cash flow	(2.63)	0.54	(0.24)	1.35	0.76	0.13	4.31	3.38	3.03	(0.81)
	Book value	13.41	11.39	10.55	9.85	9.64	8.62	12.61	13.07	14.59	15.61
	Shares, m	30	33	33	33	33	34	37	41	42	41
Valuation, ×
Valuation, ×	P/E	35.71	0.00	0.00	0.00	0.00	0.00	4.03	5.20	3.94	11.90
	P/S	1.38	1.38	0.73	1.30	0.49	0.60	1.17	1.49	1.25	1.39
	P/B	0.56	0.71	0.44	0.92	0.34	0.39	1.11	1.09	0.83	0.68
	EV/Sales	3.85	3.44	2.57	2.84	2.00	2.13	1.43	1.59	1.23	1.65
	EV/FCF	(7.98)	37.42	(68.18)	14.66	17.47	93.50	3.97	4.52	3.96	(15.59)
Cash, $m
Cash, $m	Operating cash flow	43	18	9	20	46	(3)	124	160	160	82
	Capex	(122)	0	(17)	24	(21)	7	36	(21)	(34)	(115)
	Free cash flow	(79)	18	(8)	45	25	4	160	139	126	(33)
Balance, $m
Balance, $m	Working capital	35	26	34	38	40	36	105	93	97	86
	Total debt	462	443	444	405	390	350	172	88	39	127
	Net debt	406	404	387	353	331	295	117	41	(8)	80
	Shareholders’ equity	404	381	347	326	320	292	469	537	608	634
Returns, %
Returns, %	ROA	0.45	(1.44)	(5.08)	(2.83)	(0.79)	(5.16)	18.65	16.03	18.43	4.83
	ROIC	1.85	0.68	(0.82)	1.49	1.78	(2.12)	17.00	13.85	13.38	4.13
	ROE	1.00	(3.18)	(11.80)	(6.80)	(1.87)	(12.44)	35.48	22.53	22.46	5.81

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
GSL Global Ship Lease, Inc.	$1.5B	4.0×	3.9×	+3.56% (above 0%: growing)	−4.98% (below 0%: shrinking)	+0.47% (above 0%: growing)	68.06%	47.24%	Compare
CCEC Capital Clean Energy Carriers Corp.	$1.2B	10.9×	12.9×	+8.46% (above 0%: growing)	−5.88% (below 0%: shrinking)	−2,376.31% (below 0%: shrinking)	78.04%	50.63%	Compare
GNK Genco Shipping & Trading Limited	$1.1B	26.7×	10.6×	+68.54% (above 0%: growing)	n/m	+2,327.68% (above 0%: growing)	47.95%	15.95%	Compare
SB Safe Bulkers, Inc	$912.9M	10.1×	8.6×	+33.04% (above 0%: growing)	n/m	−35.33% (below 0%: shrinking)	65.78%	45.75%	Compare
ASC Ardmore Shipping Corporation	$775.4M	7.3×	5.1×	+61.31% (above 0%: growing)	+572.73% (above 0%: growing)	+8,990.87% (above 0%: growing)	57.14%	42.84%
HSHP Himalaya Shipping Ltd.	$766.0M	14.2×	8.8×	+79.60% (above 0%: growing)	+2,500.00% (above 0%: growing)	+312.05% (above 0%: growing)	85.47%	68.34%	Compare
PANL Pangaea Logistics Solutions Ltd.	$515.3M	10.1×	5.7×	+19.42% (above 0%: growing)	n/m	+114.13% (above 0%: growing)	36.85%	11.41%	Compare
CMDB Costamare Bulkers Holdings Limited	$473.2M	11.7×	—	—	—	−166.66% (below 0%: shrinking)	37.19%	6.44%	Compare
ESEA Euroseas Ltd.	$443.5M	3.4×	3.9×	−1.28% (below 0%: shrinking)	+10.42% (above 0%: growing)	−70.14% (below 0%: shrinking)	78.65%	59.18%	Compare
Median of peers	$839.5M	10.5×	8.6×	+19.42%	+2.72%	−17.43%	66.92%	46.50%

All 38 Marine Shipping stocks →

Ardmore Shipping Corporation (ASC) key facts

Concern: Ardmore Shipping Corporation’s revenue for fiscal 2025 (year ended December 2025) was $310.2 million, down 23.6% from fiscal 2024.
Ardmore Shipping Corporation (ASC) is a Marine Shipping company in the Industrials sector, listed on the New York Stock Exchange.
As of October 16, 2026, ASC traded at $18.93, a market capitalization of $775.4 million.
Ardmore Shipping Corporation pays an annual dividend of $1.37 per share, a yield of 7.24%, with a payout ratio of 52.9%.
Return on equity was 5.81% and debt-to-equity 0.05.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 2.73 (grey zone) for fiscal 2025.