C3is Inc. (CISS)
NASDAQ:CISS
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C3is Inc.
(NASDAQ:CISS)
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Rating:62Neutral
Price Target:
$0.89
▲(368.95% Upside)
Action:ReiteratedDate:03/24/26
The score is primarily supported by a very strong, low-debt balance sheet and constructive earnings-call outlook with a clear FY2025 turnaround. Offsetting this are weak technicals (broad downtrend with negative momentum) and inconsistent cash flow/earnings stability, which keep overall conviction moderate despite the very low P/E.
Positive Factors
Conservative balance sheet and deleveraging
A near-zero debt-to-equity profile, cash buildup and reported elimination of bank debt materially raise financial flexibility. In a cyclical shipping market this durable low-leverage position supports capital deployment, survival through downturns and the ability to finance opportunistic vessel acquisitions.
Negative Factors
Volatile revenue and margin profile
Multi-year swings in revenue and margins indicate earnings depend heavily on short-term freight rates and asset utilization. This cyclicality weakens the predictability of profits and makes sustainable margin improvement uncertain absent structural changes to route exposure or contracted revenue.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet and deleveraging
A near-zero debt-to-equity profile, cash buildup and reported elimination of bank debt materially raise financial flexibility. In a cyclical shipping market this durable low-leverage position supports capital deployment, survival through downturns and the ability to finance opportunistic vessel acquisitions.
Read all positive factors
C3is Inc. (CISS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.20M
Dividend YieldN/A
Average Volume (3M)7.07M
Price to Earnings (P/E)<0.1
Beta (1Y)1.95
Revenue Growth-27.96%
EPS Growth-98.99%
CountryUS
EmployeesN/A
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)5.88
Shares Outstanding2,691,242
10 Day Avg. Volume1,654,664
30 Day Avg. Volume7,066,181
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)<0.01
Price to Sales (P/S)0.01
P/FCF Ratio0.11
Enterprise Value/Market Cap0.19
Enterprise Value/Revenue0.01
Enterprise Value/Gross Profit0.09
Enterprise Value/Ebitda0.05
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
C3is Inc. Business Overview & Revenue Model
Company Description
C3is Inc. offers international seaborne transportation services. The company provides its services to dry bulk charterers, including national and private industrial users, commodity producers and traders, oil producers, refineries, and commodities...
How the Company Makes Money
C3is Inc. primarily makes money by chartering its vessels to customers for the transportation of dry bulk cargoes. Revenue is generated through charter hire earned under contracts such as time charters (fixed daily rate paid over the charter perio...
C3is Inc. Key Performance Indicators (KPIs)
Any
Average Number Of Vessels
Indicates the average size of the fleet over a period, highlighting the company's capacity to generate revenue and its market presence in the shipping industry.
Indicates the average size of the fleet over a period, highlighting the company's capacity to generate revenue and its market presence in the shipping industry.
Data provided by:
The Fly
The FlyC3is Inc. Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jun 19, 2026
Earnings Call Sentiment Positive
The call emphasized a clear financial turnaround — profitable results, large EBITDA improvement, reduced interest costs, stronger cash and full deleveraging — alongside strategic fleet additions poised to benefit from robust tonne-mile and Aframax/product tanker market dynamics. Offsetting these positives are meaningful near-term operational headwinds: an 18% decline in voyage revenues driven by 74 vessel non-revenue/idle days and a 28% drop in TCE rates, plus an aging fleet profile and sector-specific demand softness (notably coal). On balance the significant profitability, cash and balance-sheet improvements and favorable market outlook outweigh the operational setbacks reported for the year.Positive Updates
Turnaround to Profitability
Net income of $10.5M for FY2025 versus a net loss of $3.0M in FY2024, an increase of 481%.
Negative Updates
Decline in Voyage Revenues
Voyage revenues fell 18% to $34.8M in 2025 from $42.0M in 2024, primarily due to dry docking and 46 idle days for the Aframax tanker (28 non-revenue days for dry docking; total 74 days).
Read all updates
Q4-2025 Updates
Positive
Negative
Turnaround to Profitability
Net income of $10.5M for FY2025 versus a net loss of $3.0M in FY2024, an increase of 481%.
Read all positive updates
Company Guidance
Management guided that 2026 should be a firm year driven by longer voyage tonne-mile demand (transport works +~2% p.a.) despite muted tonnage growth (total dry bulk volumes <1% in 2026), with minor bulks up ~3% and Handysize exports at 1,798 Mt in 2025 (+2% YoY; 15% coal, 13% grains, 9% steel), while fleet dynamics (global Handysize 3,202 vessels, 38% >15 yrs; global Aframax 1,198 ships, 293 >20 yrs/25%) and trade shifts support higher freight (Aframax routes showing dayrates e.g. Caribbean‑USG $66,426 +88.7%, Med‑Med $65,808 +85.3%), and company-level metrics reflect strong positioning: FY‑2025 net income $10.5M (+481%), EBITDA $17M (+244%), cash $14.9M (+19% YoY), voyage revenues $34.8M (‑18%), TCEs ‑28%, fleet to reach 311,000 DWT with 2 product tankers in 2026 (fleet +387% since inception), no bank debt, vessels net book $78M (market ~$75M Jan‑26).C3is Inc. Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
83
Very Positive
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 34.76M | 42.30M | 28.74M | 3.29M | 6.27M |
| Gross Profit | 4.43M | 13.62M | 12.02M | 750.83K | 3.78M |
| EBITDA | 7.87M | 5.90M | 14.76M | 1.11M | 4.10M |
| Net Income | 10.47M | -2.75M | 9.29M | 551.59K | 3.61M |
Balance Sheet | |||||
| Total Assets | 98.49M | 100.49M | 95.47M | 39.86M | 16.36M |
| Cash, Cash Equivalents and Short-Term Investments | 14.94M | 12.59M | 9.06M | 0.00 | 18.99K |
| Total Debt | 24.75K | 28.77K | 0.00 | 0.00 | 7.28M |
| Total Liabilities | 3.39M | 29.13M | 39.93M | 965.47K | 7.61M |
| Stockholders Equity | 95.10M | 71.36M | 55.54M | 38.89M | 8.75M |
Cash Flow | |||||
| Free Cash Flow | 3.84M | 23.35M | 1.34M | -38.34M | -11.65M |
| Operating Cash Flow | 4.00M | 24.98M | 5.64M | 1.05M | -12.08K |
| Investing Cash Flow | -6.54M | -1.36M | -12.43M | -39.39M | -11.64M |
| Financing Cash Flow | -1.49M | -19.67M | 7.48M | 38.34M | 12.42M |
C3is Inc. Technical Analysis
Negative
0.19
Price Trends
1.31
Negative
8.34
Negative
31.68
Negative
Market Momentum
-0.24
Negative
28.76
Positive
27.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CISS, the sentiment is Negative. The current price of 0.19 is below the 20-day moving average (MA) of 0.85, below the 50-day MA of 1.31, and below the 200-day MA of 31.68, indicating a bearish trend. The MACD of -0.24 indicates Negative momentum. The RSI at 28.76 is Positive, neither overbought nor oversold. The STOCH value of 27.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CISS.
C3is Inc. Risk Analysis
C3is Inc. disclosed 86 risk factors in its most recent earnings report. C3is Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
C3is Inc. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $23.75M | 0.53 | 16.53% | ― | -11.07% | -13.39% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $2.20M | 0.04 | 12.78% | ― | -27.96% | -98.99% | |
52 Neutral | $16.81M | 0.26 | -5.54% | ― | -1.35% | -118.25% | |
51 Neutral | $42.95M | -20.72 | -2.65% | ― | 18.49% | -264.74% | |
51 Neutral | $19.27M | -2.44 | -10.68% | 6.20% | -8.96% | -88.67% |
* Industrials Sector Average
CISS
C3is Inc.
0.82
-64.98
-98.76%
PSHG
Performance Shipping
1.86
0.45
31.91%
GLBS
Globus Maritime
1.99
0.87
77.84%
CTRM
Castor Maritime
1.74
-0.38
-17.92%
USEA
United Maritime Corp.
2.02
0.94
87.21%
C3is Inc. Corporate Events
C3is Inc. Launches $98 Million At-the-Market Equity Program to Fund Tanker Fleet Expansion
Feb 25, 2026
On February 25, 2026, C3is Inc. entered into an at-the-market issuance sales agreement with Aegis Capital Corp., allowing the company to sell up to $98 million of common shares from time to time at its discretion. The proceeds are earmarked for wo...
C3is Inc. Posts Strong 2025 Results, Expands Tanker Fleet and Executes Reverse Split
Feb 19, 2026
On February 19, 2026, C3is Inc. reported unaudited financial and operating results for the fourth quarter and full year ended December 31, 2025, highlighting stronger earnings driven by higher time charter equivalent rates and improved fleet utili...
C3is Inc. Enacts 1-for-20 Reverse Stock Split as Shares Begin Trading on Adjusted Basis
Jan 26, 2026
On January 23, 2026, C3is Inc. filed an amendment to its Restated Articles of Incorporation to implement a one‑for‑20 reverse stock split of its common stock, which became effective at 11:59 p.m. Eastern time on January 25, 2026, with ...
C3is Inc. Sets 1-for-20 Reverse Stock Split to Preserve Nasdaq Listing
Jan 22, 2026
On January 22, 2026, C3is Inc. announced that its board has approved a one-for-20 reverse stock split of its common shares, effective at 11:59 p.m. Eastern Time on January 25, 2026, with split-adjusted trading on the Nasdaq Capital Market to begin...
C3is Inc. Expands Fleet With $22.9 Million Product Tanker Acquisition
Jan 20, 2026
On January 20, 2026, C3is Inc. announced it has agreed to acquire a 2011 South Korean-built product tanker with 47,203 deadweight tons capacity for $22.9 million from an entity affiliated with Brave Maritime Corp Inc., a related party to members o...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.