C3is Inc. (CISS)
NASDAQ:CISS
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C3is Inc.
(NASDAQ:CISS)
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Rating:60Neutral
Price Target:
$0.45
▲(137.89% Upside)
Action:ReiteratedDate:04/24/26
The score is supported primarily by conservative balance-sheet positioning and management’s improved profitability/deleveraging narrative, plus a very low reported P/E. These positives are tempered by a pronounced bearish technical trend and the company’s historically volatile earnings and free-cash-flow profile, with operational downtime and fleet-age risks highlighted on the latest call.
Positive Factors
Conservative Balance Sheet / Deleveraging
C3is has materially reduced leverage and reports no bank debt, improving financial flexibility in a capital-intensive, cyclical shipping sector. A conservative balance sheet and higher cash give the company runway for opportunistic deployment into vessels, lower interest exposure and resilience through freight cycles.
Negative Factors
Volatile Cash Generation
Historic swings in operating and free cash flow reduce confidence in sustainable internal funding for capex, dividends or deleveraging. Large year-to-year variability heightens refinancing and liquidity risk in down cycles, complicating long-term planning for fleet investment and repairs.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet / Deleveraging
C3is has materially reduced leverage and reports no bank debt, improving financial flexibility in a capital-intensive, cyclical shipping sector. A conservative balance sheet and higher cash give the company runway for opportunistic deployment into vessels, lower interest exposure and resilience through freight cycles.
Read all positive factors
C3is Inc. (CISS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.14M
Dividend YieldN/A
Average Volume (3M)7.07M
Price to Earnings (P/E)<0.1
Beta (1Y)1.49
Revenue Growth-17.83%
EPS Growth-81.29%
CountryUS
EmployeesN/A
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)41.15
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 Cap-0.06
Enterprise Value/Revenue>-0.01
Enterprise Value/Gross Profit-0.02
Enterprise Value/Ebitda>-0.01
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. makes money primarily by earning charter revenue from its owned and/or operated dry bulk vessels. Its main revenue streams are typically: (1) Time charter income, where a customer (charterer) hires a vessel for a fixed period and pays a ...
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
1.21
Negative
6.41
Negative
29.70
Negative
Market Momentum
-0.16
Negative
30.64
Neutral
60.59
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 0.82, below the 50-day MA of 1.21, and below the 200-day MA of 29.70, indicating a bearish trend. The MACD of -0.16 indicates Negative momentum. The RSI at 30.64 is Neutral, neither overbought nor oversold. The STOCH value of 60.59 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 | $22.50M | 0.53 | 16.53% | ― | -3.74% | 14.28% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | $1.14M | 0.05 | 12.78% | ― | -17.83% | -81.29% | |
57 Neutral | $18.65M | 1.04 | -5.54% | ― | 23.51% | -67.68% | |
51 Neutral | $45.75M | -20.72 | -2.65% | ― | 26.77% | -515.79% | |
51 Neutral | $19.55M | -2.44 | -11.02% | 6.20% | -16.84% | -81.90% |
* Industrials Sector Average
CISS
C3is Inc.
0.42
-77.18
-99.46%
PSHG
Performance Shipping
1.81
0.48
36.09%
GLBS
Globus Maritime
2.12
0.99
87.61%
CTRM
Castor Maritime
1.93
-0.31
-13.84%
USEA
United Maritime Corp.
2.05
0.99
93.21%
C3is Inc. Corporate Events
C3is Inc. Enacts 1-for-7 Reverse Stock Split to Preserve Nasdaq Listing
Apr 23, 2026
C3is Inc., a Nasdaq-listed Greek shipping company, operates a mixed fleet of Handysize dry bulk carriers, an Aframax tanker and a product tanker totaling 260,671 dwt, and expects to grow to six vessels and roughly 311,431 dwt after receiving anoth...
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 ...
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.