Ardmore Shipping (ASC) AI Stock Analysis

• Market Cap: $532.17M
• Dividend Yield: 3.05%
• Average Volume (3M): 569.30K
• Price to Earnings (P/E): 16.8
• Beta (1Y): 0.44
• Revenue Growth: -26.81%
• EPS Growth: -78.30%
• Country: US
• Employees: 56
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): 0.31
• Shares Outstanding: 40,623,928
• 10 Day Avg. Volume: 707,203
• 30 Day Avg. Volume: 569,297
• PEG Ratio: 0.32
• Price to Book (P/B): 0.80
• Price to Sales (P/S): 1.25
• P/FCF Ratio: 5.09
• Enterprise Value/Market Cap: 1.09
• Enterprise Value/Revenue: 1.88
• Enterprise Value/Gross Profit: 7.06
• Enterprise Value/Ebitda: 7.36
• 1Y Price Target: $16.00
• Price Target Upside: 22.14% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 1.03
• Revenue Forecast (FY): $196.50M

• Rating: 70 Outperform
• Price Target: $14.00 ▲(6.87% Upside)

Ardmore Shipping's overall score is driven by strong earnings performance and positive technical indicators. The company's strategic capital management and favorable market conditions are significant strengths. However, challenges in revenue growth and cash flow management, along with geopolitical uncertainties, temper the outlook.

Ardmore Shipping Business Overview & Revenue Model

Company Description

Ardmore Shipping Corporation (ASC) is a global provider of maritime transportation services, specializing in the transportation of petroleum products and chemicals. The company operates a modern fleet of eco-friendly product and chemical tankers, primarily serving the needs of oil and gas companies, as well as industrial customers. With a focus on operational efficiency and sustainability, Ardmore Shipping is committed to delivering reliable shipping solutions across international markets.

How the Company Makes Money

Ardmore Shipping generates revenue primarily through the chartering of its vessels. The company earns money by entering into time charters or spot contracts with clients, where they provide their tankers for a specified period or for specific voyages. The company benefits from fluctuations in shipping rates and demand for tanker services, which can impact revenue. Additionally, Ardmore Shipping may engage in operational efficiencies and cost management to enhance profitability. Significant partnerships with oil and chemical companies also contribute to its earnings, as they provide a steady stream of contracts and business opportunities.

Ardmore Shipping Financial Statement Overview

Summary

Ardmore Shipping shows strong profitability margins and low leverage, with a robust equity base providing resilience. However, challenges include declining revenue growth and negative free cash flow, indicating potential issues in sustaining growth and managing cash effectively.

Income Statement

Ardmore Shipping's income statement shows a mixed performance. The TTM data reveals a decline in revenue growth at -4.59%, indicating potential challenges in maintaining sales momentum. However, the company maintains a healthy EBIT margin of 16.95% and a net profit margin of 14.48%, reflecting operational efficiency and profitability. The gross profit margin has decreased from previous years, suggesting increased cost pressures.

Balance Sheet

The balance sheet reflects a strong equity position with a low debt-to-equity ratio of 0.044, indicating financial stability and low leverage risk. The return on equity (ROE) is moderate at 7.26%, suggesting reasonable profitability relative to shareholder equity. The equity ratio of 81.98% highlights a solid capital structure, providing a buffer against potential financial volatility.

Cash Flow

Cash flow analysis indicates challenges, with a significant decline in free cash flow growth at -156.12% in the TTM period. The operating cash flow to net income ratio of 3.29 suggests strong cash generation relative to net income, but the negative free cash flow raises concerns about cash management and investment activities. The free cash flow to net income ratio of 0.81 is relatively healthy, indicating some level of cash profitability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	309.33M	405.78M	395.98M	445.74M	192.48M	220.06M
Gross Profit	82.52M	156.33M	167.11M	195.53M	8.05M	43.42M
EBITDA	79.08M	178.39M	157.85M	185.62M	9.92M	42.74M
Net Income	35.57M	133.01M	116.81M	138.45M	-36.83M	-6.05M
Balance Sheet
Total Assets	799.81M	704.80M	690.95M	723.86M	724.53M	752.01M
Cash, Cash Equivalents and Short-Term Investments	47.06M	46.99M	46.80M	50.57M	55.45M	58.37M
Total Debt	118.24M	44.24M	93.99M	184.62M	372.55M	409.71M
Total Liabilities	143.86M	69.38M	116.51M	217.42M	395.54M	431.67M
Stockholders Equity	655.95M	635.42M	574.44M	506.44M	329.00M	320.33M
Cash Flow
Free Cash Flow	-45.10M	99.42M	134.22M	120.40M	-5.52M	25.19M
Operating Cash Flow	80.96M	160.44M	159.61M	124.21M	-2.89M	46.09M
Investing Cash Flow	-127.61M	-32.97M	-26.84M	35.41M	1.63M	-20.99M
Financing Cash Flow	46.13M	-127.29M	-136.54M	-164.50M	-1.66M	-18.46M

Ardmore Shipping Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 13.10
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASC, the sentiment is Positive. The current price of 13.1 is above the 20-day moving average (MA) of 12.73, above the 50-day MA of 12.31, and above the 200-day MA of 10.64, indicating a bullish trend. The MACD of 0.26 indicates Positive momentum. The RSI at 57.50 is Neutral, neither overbought nor oversold. The STOCH value of 39.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ASC.

Ardmore Shipping Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KNOP	82 Outperform	$341.34M	9.89	5.61%	1.04%	14.11%	1641.62%
ECO	78 Outperform	kr1.06B	15.97	―	4.67%	-12.47%	-34.41%
ASC	70 Outperform	$532.17M	16.82	5.28%	3.05%	-26.81%	-78.30%
PANL	67 Neutral	$441.82M	22.99	4.23%	6.09%	14.21%	-36.71%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
NAT	63 Neutral	$815.24M	60.34	2.65%	7.01%	-12.89%	-78.39%
SHIP	63 Neutral	$200.58M	13.06	5.66%	4.98%	-8.99%	-68.66%

Ardmore Shipping Corporate Events

Ardmore Shipping Releases Q3 2025 Financial Results

Ardmore Shipping Corporation released its financial results for the three and nine months ended September 30, 2025. The report includes management’s discussion and analysis of financial condition and results of operations, highlighting the company’s strategic focus on fuel-efficient operations and its efforts to exploit overlaps between clean petroleum product and chemical sectors. The company also addressed various forward-looking statements concerning future operating results, fleet expansion, and geopolitical impacts on the shipping industry.

Ardmore Shipping Reports Q3 2025 Financial Results and Fleet Expansion

Ardmore Shipping Corporation announced its financial results for the three and nine months ended September 30, 2025, reporting adjusted earnings of $12.6 million for the third quarter and $27.2 million for the nine-month period. The company declared a cash dividend of $0.10 per common share for the quarter and fully redeemed its Series A Preferred Stock for $30.6 million. Ardmore also completed the acquisition of three modern MR tankers, enhancing its fleet and lowering its average fleet age. Geopolitical tensions, including the Russia-Ukraine conflict and instability in the Middle East, have impacted global energy supply chains, contributing to increased spot tanker rates and affecting the company’s operations.