EuroDry (EDRY) vs Heidmar Maritime Holdings Corp. (HMR)

EuroDry and Heidmar Maritime Holdings Corp. are both Marine Shipping companies. EuroDry is the larger, with a market value of $145.9M against $106.2M — 1.4× the size. Heidmar Maritime Holdings Corp. has negative trailing earnings, so its P/E is not meaningful; EuroDry trades at 14.4×. Heidmar Maritime Holdings Corp. grew revenue faster over the last twelve months: 161.4% against 25.3%. EuroDry has the higher net margin (15.0% vs −20.1%) and the higher return on invested capital (6.06% vs 0.00%). Across the 19 metrics below, EuroDry leads on 14 and Heidmar Maritime Holdings Corp. on 5.

Valuation

Metric EDRY HMR Marine Shipping median
P/E 14.38 n/m 6.89
P/S 2.15 1.52 1.92
P/B 1.23 9.69 0.90
Price to free cash flow 5.25 7.68 4.62
EV/EBITDA 6.91 19.34 6.57
EV/Sales 3.26 1.11 2.73
Earnings yield 6.96% (13.56%) 9.59%
Free cash flow yield 19.06% 13.02% 16.76%

Profitability

Metric EDRY HMR Marine Shipping median
Gross margin 60.61% 59.39% 60.61%
Operating margin 27.80% 5.77% 27.74%
Net margin 15.02% (20.10%) 25.21%
Free cash flow margin 41.07% 23.46% 17.29%
Return on equity 8.96% 0.00% 8.62%
Return on assets 4.46% (22.23%) 5.35%
Return on invested capital 6.06% 0.00% 5.32%

Growth

Metric EDRY HMR Marine Shipping median
Revenue growth (TTM) 25.27% 161.35% 13.26%
EPS growth (last fiscal year) 56.21% (1,264.18%) —
Revenue growth, 5-year CAGR 18.58% — 11.77%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric EDRY HMR Marine Shipping median
Debt to equity 0.89 0.00 0.52
Current ratio 1.28 1.13 1.63
Net debt to EBITDA 5.11 3.89 2.34

Dividend

Metric EDRY HMR Marine Shipping median
Dividend yield — — 5.54%
Payout ratio 0.00 — 0.13

Size

Metric EDRY HMR Marine Shipping median
Market cap 145.91m 106.19m 420.73m

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