Himalaya Shipping Ltd.
HSHP Industrials Marine Shipping
Himalaya Shipping Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $131.9 million, up 6.72% from fiscal 2024. In the quarter to June 2026, revenue grew 79.6%, EPS grew 2,500.0%, free cash flow grew 312.1% and total debt fell 3.39%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Himalaya Shipping Ltd. (HSHP) Piotroski F-score
Himalaya Shipping Ltd.'s Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 2.03% | 2.85% | Pass | 1 |
| Positive operating cash flow | 51.70m | 55.90m | Pass | 1 |
| Rising return on assets | 2.03% | 2.85% | Fail | 0 |
| Cash flow above net income | 34.00m | 34.80m | Pass | 1 |
| Falling long-term leverage | 0.76 | 0.93 | Pass | 1 |
| Rising current ratio | 1.08 | 0.75 | Pass | 1 |
| No new shares issued | 45,983,000 | 43,900,000 | Fail | 0 |
| Rising gross margin | 77.56% | 79.45% | Fail | 0 |
| Rising asset turnover | 0.15 | 0.17 | Fail | 0 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| CCEC Capital Clean Energy Carriers Corp. compare | 7 |
| PANL Pangaea Logistics Solutions Ltd. compare | 6 |
| GSL Global Ship Lease, Inc. compare | 6 |
| ESEA Euroseas Ltd. compare | 6 |
| ASC Ardmore Shipping Corporation compare | 5 |
| SB Safe Bulkers, Inc compare | 5 |
| HSHP Himalaya Shipping Ltd. | 5 |
| GNK Genco Shipping & Trading Limited compare | 2 |
| CMDB Costamare Bulkers Holdings Limited compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover