Diana Shipping inc. (DSX) vs Himalaya Shipping Ltd. (HSHP)

Diana Shipping inc. and Himalaya Shipping Ltd. are both Marine Shipping companies. Himalaya Shipping Ltd. is the larger, with a market value of $844.4M against $359.6M — 2.3× the size. Diana Shipping inc. trades at the lower P/E: 5.7× against 15.5×. Himalaya Shipping Ltd. grew revenue faster over the last twelve months: 38.6% against −3.68%. Himalaya Shipping Ltd. has the higher net margin (31.4% vs 25.2%) and the higher return on invested capital (7.91% vs 2.88%). Across the 19 metrics below, Diana Shipping inc. leads on 11 and Himalaya Shipping Ltd. on 8.

Valuation

Metric DSX HSHP Marine Shipping median
P/E 5.71 15.52 6.89
P/S 1.48 4.93 1.92
P/B 0.58 5.05 0.90
Price to free cash flow 2.42 n/m 4.62
EV/EBITDA 16.14 10.96 6.57
EV/Sales 3.11 8.77 2.73
Earnings yield 17.50% 6.44% 9.59%
Free cash flow yield 41.26% (27.41%) 16.76%

Profitability

Metric DSX HSHP Marine Shipping median
Gross margin 56.68% 81.65% 60.61%
Operating margin 19.25% 60.97% 27.74%
Net margin 25.21% 31.44% 25.21%
Free cash flow margin 61.21% 52.06% 17.29%
Return on equity 10.35% 32.62% 8.62%
Return on assets 4.68% 6.10% 5.35%
Return on invested capital 2.88% 7.91% 5.32%

Growth

Metric DSX HSHP Marine Shipping median
Revenue growth (TTM) (3.68%) 38.59% 13.26%
EPS growth (last fiscal year) 120.00% (20.83%) —
Revenue growth, 5-year CAGR 4.70% — 11.77%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric DSX HSHP Marine Shipping median
Debt to equity 1.10 4.15 0.52
Current ratio 2.05 1.19 1.63
Net debt to EBITDA 4.50 6.56 2.34

Dividend

Metric DSX HSHP Marine Shipping median
Dividend yield 19.41% — 5.54%
Payout ratio 0.81 — 0.13

Size

Metric DSX HSHP Marine Shipping median
Market cap 359.56m 844.35m 420.73m

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