Ardmore Shipping Corporation (ASC) vs Euroseas Ltd. (ESEA)

Ardmore Shipping Corporation and Euroseas Ltd. are both Marine Shipping companies. Ardmore Shipping Corporation is the larger, with a market value of $728.4M against $467.0M — 1.6× the size. Euroseas Ltd. trades at the lower P/E: 3.6× against 6.9×. Ardmore Shipping Corporation grew revenue faster over the last twelve months: 13.6% against 2.53%. Euroseas Ltd. has the higher net margin (60.0% vs 28.7%) and the higher return on invested capital (16.8% vs 9.57%). Both pay a dividend; Ardmore Shipping Corporation yields more (6.26% vs 4.94%). Across the 23 metrics below, Euroseas Ltd. leads on 18 and Ardmore Shipping Corporation on 5.

Valuation

Metric ASC ESEA Marine Shipping median
P/E 6.89 3.57 6.89
P/S 1.98 2.14 1.92
P/B 1.04 0.93 0.90
Price to free cash flow 12.29 3.51 4.62
EV/EBITDA 4.79 2.91 6.57
EV/Sales 1.94 2.18 2.73
Earnings yield 14.51% 28.02% 9.59%
Free cash flow yield 8.14% 28.50% 16.76%

Profitability

Metric ASC ESEA Marine Shipping median
Gross margin 47.15% 77.80% 60.61%
Operating margin 28.48% 63.22% 27.74%
Net margin 28.67% 59.98% 25.21%
Free cash flow margin 16.09% 61.02% 17.29%
Return on equity 16.02% 29.33% 8.62%
Return on assets 14.45% 19.21% 5.35%
Return on invested capital 9.57% 16.78% 5.32%

Growth

Metric ASC ESEA Marine Shipping median
Revenue growth (TTM) 13.60% 2.53% 13.26%
EPS growth (last fiscal year) (71.24%) 21.73% —
Revenue growth, 5-year CAGR 7.11% 33.72% 11.77%
Net income growth, 5-year CAGR 0.00% 110.07% 0.00%

Health

Metric ASC ESEA Marine Shipping median
Debt to equity 0.05 0.39 0.52
Current ratio 5.45 5.46 1.63
Net debt to EBITDA 0.92 0.23 2.34

Dividend

Metric ASC ESEA Marine Shipping median
Dividend yield 6.26% 4.94% 5.54%
Payout ratio 0.18 0.14 0.13

Size

Metric ASC ESEA Marine Shipping median
Market cap 728.39m 467.02m 420.73m

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