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Diana Shipping (DSX)
:DSX
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Diana Shipping
(NYSE:DSX)
Rating:56Neutral
Price Target:
$1.50
▼(-2.60% Downside)
Diana Shipping (DSX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$178.29M
Dividend Yield7.05%
Average Volume (3M)241.95K
Price to Earnings (P/E)11.8
Beta (1Y)0.75
Revenue Growth-4.90%
EPS Growth21.09%
CountryUS
Employees981
SectorIndustrials
Sector Strength84
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.02
Shares Outstanding115,771,510
10 Day Avg. Volume247,702
30 Day Avg. Volume241,947
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 Cap3.35
Enterprise Value/Revenue2.62
Enterprise Value/Gross Profit6.06
Enterprise Value/Ebitda6.90
Forecast
1Y Price Target
$1.50Price Target Upside-2.60% Downside
Rating ConsensusHold
Number of Analyst Covering1
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 to customers on long-term, fixed-rate time charters or on spot market charters. The company earns charter hire fees based on the length of the contract and the type of vessel. Key revenue streams include time charter contracts with major global charterers such as commodity traders, producers, and government entities that require reliable and efficient marine transportation services. The company's earnings are influenced by factors like charter rates, fleet utilization, and the global demand for dry bulk shipping. Additionally, strategic partnerships and relationships with major industry players contribute to sustaining and enhancing its revenue streams.
Diana Shipping Earnings Call Summary
Earnings Call Date:Jul 30, 2025
(Q2-2025)
| % Change Since: -3.75%|
Next Earnings Date:Nov 12, 2025
Earnings Call Sentiment Neutral
The earnings call showcases a mix of positive financial improvements and strategic investments, contrasted by challenges in the broader market affecting time charter revenues and cash reserves. Despite these challenges, the company has managed to improve net income and maintain high fleet utilization.Q2-2025 Updates
Positive Updates
Net Income Improvement
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.
Fleet Utilization
Fleet utilization reached 99.5% for the second quarter of 2025, highlighting effective vessel management.
Strong Cash Reserves
The company has $150 million in cash reserves as of quarter end.
Strategic Investment in Genco
Diana Shipping initiated a position at Genco Shipping & Trading Limited, owning a 7.72% stake as of July 17, 2025.
Successful Chartering Strategy
Secured time charters for 3 vessels with favorable daily rates, demonstrating a disciplined chartering strategy.
Negative Updates
Decrease in Time Charter Revenues
Time charter revenues for the second quarter were $54.7 million, a decrease of 2% compared to $56 million in the same quarter last year.
Decline in Cash and Equivalents
Cash, cash equivalents, restricted cash, and time deposits as of June 30, 2025, decreased to $149.6 million compared to $207.2 million as of December 31, 2024.
Bulk Carrier Market Challenges
Average sector earnings were down by about 30% year-on-year amid weaker demand trends in key commodities.
Lower Steel Production
Crude steel output in China is down year-on-year by about 2%, impacting demand for key shipping sectors.
Company Guidance
During the Diana Shipping Inc. Second Quarter 2025 Financial Results Conference Call, several key metrics were highlighted. The fleet utilization rate reached 99.5%, demonstrating effective vessel management, while the time charter equivalent rate improved by 3% to $15,492 compared to the same quarter last year. Despite a 2% drop in time charter revenues to $54.7 million from the previous year, net income significantly increased to $4.5 million, reversing a net loss of $2.8 million in Q2 2024. The company's net debt stands at 46% of market value, supported by $150 million in cash reserves. Diana Shipping also declared a quarterly cash dividend of $0.01 per common share, totaling approximately $1.16 million. Additionally, the company secured time charters for three vessels, achieving notable daily rates, such as $25,000 for a Newcastlemax vessel over 442 days. The presentation also included insights into the fleet's average age of 11.7 years, an anticipated delivery of new vessels, and strategic investments, including a 7.72% stake in Genco Shipping & Trading Limited. The company maintained a strong balance sheet with a mix of fixed and variable rate debt instruments and a steady debt amortization profile extending to 2032.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
Negative
1.54
Price Trends
1.56
Negative
1.54
Negative
1.74
Negative
Market Momentum
>-0.01
Positive
46.72
Neutral
21.36
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DSX, the sentiment is Negative. The current price of 1.54 is below the 20-day moving average (MA) of 1.59, below the 50-day MA of 1.56, and below the 200-day MA of 1.74, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.72 is Neutral, neither overbought nor oversold. The STOCH value of 21.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 (71)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $367.43M | 2.82 | 39.30% | 4.77% | 14.62% | 21.99% | |
76 Outperform | $155.93M | 9.88 | 5.89% | 9.07% | 1.66% | -46.25% | |
75 Outperform | $249.61M | 3.66 | 10.95% | ― | 14.08% | 28.84% | |
71 Outperform | ¥258.22B | 14.57 | 8.48% | 2.82% | 6.31% | 11.99% | |
69 Neutral | $21.02M | 2.36 | 3.07% | ― | -32.07% | -9.50% | |
56 Neutral | $178.29M | 11.81 | 4.23% | 7.05% | -4.90% | 21.09% | |
42 Neutral | $21.20M | 61.24 | -0.43% | ― | 17.92% | -131.47% |
* Industrials Sector Average
Performance Comparison
DSX
Diana Shipping
1.54
-0.84
-35.29%
ESEA
Euroseas
52.44
21.83
71.32%
GLBS
Globus Maritime
1.03
-0.53
-33.97%
SHIP
Seanergy Maritime
7.28
-2.16
-22.88%
GASS
StealthGas
6.75
0.95
16.38%
CTRM
Castor Maritime
2.18
-2.86
-56.75%
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.