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Diana Shipping (DSX)
:DSX
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Diana Shipping
(NYSE:DSX)
Rating:65Neutral
Price Target:
$1.50
▼(-8.54% Downside)
Diana Shipping (DSX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$192.18M
Dividend Yield2.44%
Average Volume (3M)310.69K
Price to Earnings (P/E)12.6
Beta (1Y)0.79
Revenue Growth-4.90%
EPS Growth21.09%
CountryUS
Employees981
SectorIndustrials
Sector Strength76
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.02
Shares Outstanding115,771,510
10 Day Avg. Volume433,833
30 Day Avg. Volume310,688
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap3.11
Enterprise Value/Revenue2.62
Enterprise Value/Gross Profit6.06
Enterprise Value/Ebitda6.90
Forecast
1Y Price Target
$1.50Price Target Upside-8.54% Downside
Rating ConsensusHold
Number of Analyst Covering0
Diana Shipping Business Overview & Revenue Model
Company DescriptionDiana Shipping Inc. provides shipping transportation services. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. As of April 13, 2022, it operated a fleet of 35 dry bulk vessels, including 4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 6 Kamsarmax, and 8 Panamax. The company was formerly known as Diana Shipping Investments Corp. and changed its name to Diana Shipping Inc. in February 2005. Diana Shipping Inc. was incorporated in 1999 and is based in Athens, Greece.
How the Company Makes MoneyDiana Shipping generates revenue primarily through the chartering of its vessels. The company employs a mixed chartering strategy, involving both time charters and spot market charters. In time charters, Diana Shipping leases its vessels for a specified duration at a fixed rate, providing stable and predictable cash flow. In contrast, spot market charters allow the company to capitalize on fluctuating market rates, potentially earning higher revenues during favorable market conditions. Additionally, the company may engage in long-term contracts with major clients, which can provide further revenue stability. Key partnerships with large shipping companies and industrial clients are crucial for securing consistent shipping contracts, thus contributing to the company's earnings. The company's operational efficiency and prudent fleet management also play significant roles in maximizing profitability.
Diana Shipping Earnings Call Summary
Earnings Call Date:Jul 30, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 12, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted a significant turnaround in net income and strong fleet utilization, indicating effective management and strategy. However, challenges such as decreased revenues, reduced cash reserves, and market softness present notable concerns.Q2-2025 Updates
Positive Updates
Turnaround in Net Income
Net income for the second quarter of 2025 improved significantly to $4.5 million compared to a net loss of $2.8 million for the second quarter of 2024, driven by decreased interest and finance costs.
Strong Fleet Utilization
Fleet utilization reached 99.5% for the second quarter of 2025, highlighting effective vessel management strategy.
Successful Chartering Strategy
Secured time charters for 3 vessels at favorable rates, demonstrating a disciplined chartering strategy that ensured earnings visibility and resilience against market downturns.
Strategic Investment in Genco Shipping
Initiated a position at Genco Shipping & Trading Limited with a 7.72% ownership interest, reflecting confidence in its long-term value.
Negative Updates
Decrease in Time Charter Revenues
Time charter revenues for the second quarter were $54.7 million, a 2% decrease from the same quarter last year due to a decrease in the size of the fleet.
Reduced Cash Position
Cash, cash equivalents, restricted cash and time deposits decreased to $149.6 million as of June 30, 2025, from $207.2 million as of December 31, 2024.
High Breakeven Rate
The breakeven rate stood at $16,409 per day, with projected revenues potentially falling short of fully covering this rate in the near term.
Market Softness and Demand Challenges
Average bulk carrier earnings were down 30% year-on-year amid weaker demand trends in key commodities.
Company Guidance
During the second quarter of 2025, Diana Shipping Inc. provided comprehensive guidance on their financial and operational metrics. The company reported a fleet utilization rate of 99.5% and a net income of $4.5 million, marking a significant improvement from a net loss of $2.8 million in the same quarter of 2024. Their time charter revenues amounted to $54.7 million, a slight decrease from the previous year due to fleet size reduction. The company maintained a strong cash position with $150 million in reserves and reduced its long-term debt to $610.2 million. Diana Shipping also highlighted their strategic investment in Genco Shipping & Trading Limited, holding a 7.72% ownership interest. Despite a challenging market, they secured time charters for three vessels, with daily rates ranging from $10,100 to $25,000. Additionally, they declared a quarterly cash dividend of $0.01 per share, underscoring their commitment to shareholder returns amid ongoing fleet modernization and ESG initiatives.Diana Shipping Financial Statement Overview
Summary
Diana Shipping faces challenges with declining revenues and profit margins. The stable balance sheet with moderate leverage is offset by potential liquidity issues due to zero free cash flow.Income Statement
Diana Shipping has faced fluctuating revenue over the years, with a noticeable decline in total revenue in the latest period. The company maintains a reasonable gross profit margin of 57.85% and a net profit margin of 5.59% for 2024, indicating some profitability despite challenges. However, the significant revenue drop in 2024 compared to previous years and a declining trend in EBIT and EBITDA margins indicate pressures on operating efficiency.65
Positive
Balance Sheet
The company has a moderate debt-to-equity ratio of 1.26, suggesting a balanced leverage position. Stockholders' equity has remained relatively stable, and the equity ratio of 43.13% indicates a solid capital structure. However, the total liabilities are high compared to assets, which may pose potential risks if not managed properly.70
Positive
Cash Flow
Despite having a free cash flow of zero in the latest period, Diana Shipping had a positive operating cash flow in previous years, indicating past operational cash generation ability. However, the absence of free cash flow growth and zero operating cash flow in the latest period highlight potential liquidity issues.40
Negative
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 228.21M | 262.10M | 289.97M | 214.20M | 169.73M |
| Gross Profit | 132.01M | 113.21M | 167.67M | 93.39M | 27.37M |
| EBITDA | 97.90M | 148.96M | 188.91M | 120.89M | -68.00M |
| Net Income | 12.75M | 49.84M | 119.06M | 57.39M | -134.20M |
Balance Sheet | |||||
| Total Assets | 1.17B | 1.17B | 1.18B | 842.16M | 872.41M |
| Cash, Cash Equivalents and Short-Term Investments | 188.17M | 162.32M | 122.93M | 126.79M | 82.91M |
| Total Debt | 637.52M | 642.77M | 663.44M | 423.68M | 420.31M |
| Total Liabilities | 665.96M | 677.39M | 695.59M | 448.75M | 443.84M |
| Stockholders Equity | 505.06M | 489.02M | 487.33M | 393.40M | 428.57M |
Cash Flow | |||||
| Free Cash Flow | 59.30M | 38.64M | -72.11M | 70.71M | 11.10M |
| Operating Cash Flow | 83.53M | 70.38M | 158.86M | 89.70M | 17.23M |
| Investing Cash Flow | -39.78M | 24.93M | -273.10M | 13.36M | 10.48M |
| Financing Cash Flow | -21.67M | -71.14M | 84.88M | -59.19M | -73.10M |
Diana Shipping Technical Analysis
Positive
1.64
Price Trends
1.57
Positive
1.51
Positive
1.68
Negative
Market Momentum
0.02
Negative
60.62
Neutral
63.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DSX, the sentiment is Positive. The current price of 1.64 is above the 20-day moving average (MA) of 1.56, above the 50-day MA of 1.57, and below the 200-day MA of 1.68, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 60.62 is Neutral, neither overbought nor oversold. The STOCH value of 63.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DSX.
Diana Shipping Risk Analysis
Diana Shipping disclosed 116 risk factors in its most recent earnings report. Diana Shipping 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
Diana Shipping Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $444.43M | 3.64 | 32.88% | 4.02% | 7.73% | 0.50% | |
79 Outperform | $279.93M | 4.43 | 9.68% | ― | 13.82% | -10.37% | |
76 Outperform | $167.85M | 10.35 | 5.93% | 8.26% | 1.66% | -46.13% | |
65 Neutral | $192.18M | 12.58 | 4.23% | 2.44% | -4.90% | 21.09% | |
64 Neutral | $10.95B | 16.37 | 8.81% | 1.96% | 2.68% | -15.33% | |
54 Neutral | $21.16M | 2.34 | -5.58% | ― | -29.15% | -118.42% | |
42 Neutral | $21.20M | 61.24 | -0.43% | ― | 17.92% | -131.47% |
* Industrials Sector Average
Performance Comparison
DSX
Diana Shipping
1.64
-0.74
-31.09%
ESEA
Euroseas
62.17
28.85
86.58%
GLBS
Globus Maritime
1.04
-0.48
-31.58%
SHIP
Seanergy Maritime
7.99
-2.21
-21.67%
GASS
StealthGas
7.66
1.76
29.83%
CTRM
Castor Maritime
2.14
-2.44
-53.28%
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.