d'Amico International Shipping S.A. (DIS) AI Stock Analysis

• Market Cap: €837.94M
• Dividend Yield: 7.43%
• Average Volume (3M): 542.74K
• Price to Earnings (P/E): 7.5
• Beta (1Y): 0.79
• Revenue Growth: -29.74%
• EPS Growth: -57.59%
• Country: IT
• Employees: 26
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): 0.18
• Shares Outstanding: 124,106,560
• 10 Day Avg. Volume: 490,563
• 30 Day Avg. Volume: 542,738
• PEG Ratio: -0.15
• Price to Book (P/B): 0.90
• Price to Sales (P/S): 1.92
• P/FCF Ratio: 7.27
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €7.50
• Price Target Upside: 8.07% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.71
• Revenue Forecast (FY): €282.02M

• Rating: 77 Outperform
• Price Target: €8.00 ▲(15.27% Upside)
• Action: Reiterated Date: 03/20/26
• Date: Action: Reiterated 03/20/26

The score is driven primarily by strong financial quality (healthy profitability, significantly improved balance sheet, and positive free cash flow) and attractive valuation (low P/E and solid dividend yield). Technicals add support via a clear medium-to-long-term uptrend, though recent revenue decline and margin compression point to elevated cyclicality risk.

Positive Factors

Strengthened balance sheet

Leverage has fallen sharply versus earlier cycle peaks, leaving DIS with a conservative debt profile and materially stronger equity. This improves resilience to freight downturns, lowers refinancing and interest-rate pressure, and preserves strategic optionality for capex, dividends or opportunistic fleet moves.

Solid cash generation

Consistent operating cash flow and positive free cash flow provide internal funding for maintenance capex, debt reduction and shareholder returns. While conversion is only moderate (~54% of net income in 2025), reliable cash generation cushions cyclical earnings swings and supports long-term financial flexibility.

Robust profitability margins

Despite cyclical ups and downs, margins and ROE are healthy relative to typical product-tanker volatility. Elevated margins in the recent period indicate efficient vessel operations and charter mix, helping drive cash generation and sustain returns even as top-line normalizes from 2023–2024 peaks.

Negative Factors

Revenue downtrend

Consecutive annual revenue declines reduce scale and limit the company's ability to cover largely fixed fleet and crewing costs. A persistent top-line contraction undermines operating leverage, constrains margin recovery and increases sensitivity to any further softening in freight markets.

Cyclical earnings volatility

The business remains tightly tied to freight-rate cycles, generating swings in profitability and occasional losses. That structural cyclicality raises uncertainty for cash flow continuity, capital allocation planning and dividend sustainability across 2–6 month horizons and beyond.

Margin compression from peak levels

Lower margins versus the recent peak reduce the earnings buffer against rate declines and cost inflation. With conversion of earnings to free cash flow only moderate, margin erosion materially tightens liquidity cushions and heightens reliance on favourable market conditions to restore prior profitability.

d'Amico International Shipping S.A. Business Overview & Revenue Model

Company Description

d'Amico International Shipping S.A., through its subsidiaries, operates as a marine transportation company worldwide. It primarily transports refined petroleum products and vegetable oils through various double-hulled vessels. The company serves oil companies and trading houses. As of December 31, 2021, it operated a fleet of 37.0 product tankers. The company was incorporated in 1936 and is based in Luxembourg. d'Amico International Shipping S.A. is a subsidiary of d'Amico International S.A.

How the Company Makes Money

DIS primarily makes money by earning freight and charter revenues from deploying its product tanker fleet to transport refined oil products and other liquid cargos for customers. The company’s key revenue streams are (1) Time-charter income: DIS charters vessels to customers for a fixed daily rate over an agreed period, generating relatively predictable revenue while the charterer typically directs voyages; (2) Spot/voyage charter revenue: DIS fixes vessels on the spot market for single voyages or short-term employment, earning freight based on market rates and cargo routes, with earnings more directly exposed to product tanker supply/demand and prevailing freight rates; and (3) Commercial/operational management and ancillary shipping-related income associated with operating its fleet (specific breakdown not available: null). Profitability is influenced by utilization (days at sea vs. off-hire), achieved daily rates (TCE-equivalent), bunker fuel and port costs (especially on spot exposure where DIS bears voyage expenses), vessel operating expenses, and financing costs on the fleet. DIS’s earnings are also affected by fleet mix (owned vs. chartered-in tonnage), chartering strategy (spot vs. time-charter coverage), and broader market factors such as refinery throughput, trade flows, seasonality, regulatory requirements for tankers, and the global orderbook/scrapping cycle. Specific named partnerships or counterparties contributing to earnings are not publicly identifiable from the provided prompt: null.

d'Amico International Shipping S.A. Financial Statement Overview

Summary

Financials are solid for a cyclical shipping business: profitability remains strong (2025 ~26% net margin), leverage is conservative (2025 debt-to-equity ~0.27), and cash generation is positive (2025 FCF ~€95M). The main offset is normalization from peak conditions, with revenue declining in 2024 and again in 2025 and margins compressing versus 2023–2024, implying higher cycle risk.

Income Statement

Profitability is strong for a cyclical shipping business, with high margins in the most recent annual period (2025: ~35% gross margin, ~26% net margin) and solid operating profitability. However, performance has cooled versus the prior two years: revenue declined in 2024 and again in 2025 (2025 revenue down ~3% year over year), and margins compressed meaningfully from peak levels in 2023–2024. The multi-year record shows volatility (loss in 2021), which is typical for the industry but increases earnings risk through the cycle.

Balance Sheet

The balance sheet has strengthened materially, with leverage now conservative (2025 debt-to-equity ~0.27 versus >1.7 in 2020–2021) and equity building to ~€770M on ~€1.03B of assets. Returns on equity remain positive (2025 ~12%), though down from the exceptionally strong 2023–2024 levels, consistent with the earnings normalization. Overall, the company appears better positioned to withstand downturns than earlier in the cycle, with the main watch item being shipping’s inherently volatile asset values and earnings power.

Cash Flow

Cash generation is solid, with operating cash flow remaining strong in 2025 (~€175M) and free cash flow positive (~€95M). Free cash flow rebounded sharply in 2025 (growth ~72%), but conversion from earnings to free cash flow is only moderate (2025 free cash flow is ~54% of net income), and absolute cash flow is lower than the very strong 2023–2024 period. Overall cash flow quality is good, but variability across years suggests cash generation can swing with the freight-rate cycle and investment needs.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	360.66M	493.10M	543.82M	484.43M	247.34M
Gross Profit	124.96M	221.81M	245.62M	184.43M	9.25M
EBITDA	153.89M	268.76M	282.08M	228.22M	59.72M
Net Income	92.05M	188.48M	192.22M	134.87M	-37.26M
Balance Sheet
Total Assets	1.03B	1.05B	1.00B	1.05B	936.32M
Cash, Cash Equivalents and Short-Term Investments	183.94M	164.89M	111.15M	117.90M	43.41M
Total Debt	208.38M	282.97M	336.85M	545.64M	573.89M
Total Liabilities	256.78M	321.28M	383.90M	576.47M	603.93M
Stockholders Equity	770.50M	733.29M	617.81M	478.41M	332.38M
Cash Flow
Free Cash Flow	95.41M	143.12M	251.44M	112.32M	24.79M
Operating Cash Flow	175.49M	258.73M	292.92M	147.80M	31.83M
Investing Cash Flow	-23.21M	-88.69M	-41.49M	-41.77M	6.65M
Financing Cash Flow	-132.48M	-116.31M	-248.52M	-24.20M	-57.37M

d'Amico International Shipping S.A. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 6.94
• 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 IT:DIS, the sentiment is Neutral. The current price of 6.94 is below the 20-day moving average (MA) of 7.46, above the 50-day MA of 6.64, and above the 200-day MA of 4.81, indicating a neutral trend. The MACD of 0.16 indicates Positive momentum. The RSI at 46.59 is Neutral, neither overbought nor oversold. The STOCH value of 63.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IT:DIS.

d'Amico International Shipping S.A. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DIS	77 Outperform	€837.94M	7.53	12.15%	7.43%	-29.74%	-57.59%
FCT	66 Neutral	€4.51B	71.84	14.30%	―	18.44%	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
CRL	63 Neutral	€2.26B	37.77	15.31%	0.67%	3.99%	27.12%
TWL	58 Neutral	€13.10M	-23.16	―	―	-0.61%	-86.47%