Himalaya Shipping Ltd. (HSHP) vs Seanergy Maritime Holdings Corp (SHIP)

Himalaya Shipping Ltd. and Seanergy Maritime Holdings Corp are both Marine Shipping companies. Himalaya Shipping Ltd. is the larger, with a market value of $844.4M against $374.4M — 2.3× the size. Seanergy Maritime Holdings Corp trades at the lower P/E: 5.8× against 15.5×. Himalaya Shipping Ltd. grew revenue faster over the last twelve months: 38.6% against 32.0%. Himalaya Shipping Ltd. has the higher net margin (31.4% vs 31.0%) and the lower return on invested capital (7.91% vs 9.47%). Across the 19 metrics below, Seanergy Maritime Holdings Corp leads on 11 and Himalaya Shipping Ltd. on 8.

Valuation

Metric HSHP SHIP Marine Shipping median
P/E 15.52 5.80 6.89
P/S 4.93 1.80 1.92
P/B 5.05 1.25 0.90
Price to free cash flow n/m 5.85 4.62
EV/EBITDA 10.96 7.71 6.57
EV/Sales 8.77 3.29 2.73
Earnings yield 6.44% 17.23% 9.59%
Free cash flow yield (27.41%) 17.10% 16.76%

Profitability

Metric HSHP SHIP Marine Shipping median
Gross margin 81.65% 69.98% 60.61%
Operating margin 60.97% 42.63% 27.74%
Net margin 31.44% 30.97% 25.21%
Free cash flow margin 52.06% 30.73% 17.29%
Return on equity 32.62% 0.00% 8.62%
Return on assets 6.10% 9.73% 5.35%
Return on invested capital 7.91% 9.47% 5.32%

Growth

Metric HSHP SHIP Marine Shipping median
Revenue growth (TTM) 38.59% 31.98% 13.26%
EPS growth (last fiscal year) (20.83%) (52.13%) —
Revenue growth, 5-year CAGR — 20.07% 11.77%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric HSHP SHIP Marine Shipping median
Debt to equity 4.15 0.94 0.52
Current ratio 1.19 0.00 1.63
Net debt to EBITDA 6.56 2.87 2.34

Dividend

Metric HSHP SHIP Marine Shipping median
Dividend yield — 13.51% 5.54%
Payout ratio — 0.36 0.13

Size

Metric HSHP SHIP Marine Shipping median
Market cap 844.35m 374.43m 420.73m

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