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Performance Shipping
(NASDAQ:PSHG)
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Rating:64Neutral
Price Target:
$2.00
▲(4.71% Upside)
Action:Downgraded
Date:04/29/26
The score is primarily supported by very strong reported valuation (very low P/E) and strong recent profitability, but capped by elevated risk signals in fundamentals (free cash flow volatility and higher 2025 debt) and only neutral-to-weak technical momentum (below key moving averages with negative MACD).
Positive Factors
High sustained profitability
Consistently very high net margins and a multi-year earnings turnaround demonstrate durable operating leverage in the company’s tanker business. Strong margins improve internal cash generation potential, support reinvestment in fleet renewal, and raise resilience versus cyclical downturns by preserving earnings buffer.
Negative Factors
Free cash flow volatility
Large swings in free cash flow, including a deep outflow in 2025, indicate the company’s limited ability to consistently self-fund capex and newbuild commitments. Persistent FCF volatility increases reliance on external financing, elevates refinancing and liquidity risk during weaker tanker cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
High sustained profitability
Consistently very high net margins and a multi-year earnings turnaround demonstrate durable operating leverage in the company’s tanker business. Strong margins improve internal cash generation potential, support reinvestment in fleet renewal, and raise resilience versus cyclical downturns by preserving earnings buffer.
Read all positive factors
Performance Shipping (PSHG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$20.89M
Dividend YieldN/A
Average Volume (3M)63.72K
Price to Earnings (P/E)0.7
Beta (1Y)-0.03
Revenue Growth11.81%
EPS Growth-51.76%
CountryUS
Employees211
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)3.87
Shares Outstanding12,432,158
10 Day Avg. Volume64,190
30 Day Avg. Volume63,718
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.08
Price to Sales (P/S)0.31
P/FCF Ratio-0.11
Enterprise Value/Market Cap9.34
Enterprise Value/Revenue2.32
Enterprise Value/Gross Profit4.23
Enterprise Value/Ebitda3.23
Forecast
1Y Price Target
$5.75Price Target Upside201.05% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.29
Revenue Forecast (FY)$119.41M
Performance Shipping Business Overview & Revenue Model
Company Description
Performance Shipping Inc. delivers global maritime transportation solutions through its subsidiaries, primarily by owning and operating a fleet of tanker vessels. The company currently possesses five Aframax tanker vessels, which collectively offe...
How the Company Makes Money
Performance Shipping makes money primarily by earning charter revenue from the commercial employment of its tanker vessels. The company generates revenue when its ships are hired under (a) spot-market arrangements (typically voyage charters or spo...
Performance Shipping Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
62
Positive
Cash Flow
41
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 84.17M | 87.44M | 108.94M | 75.17M | 36.49M |
| Gross Profit | 42.31M | 50.11M | 67.92M | 37.20M | -2.49M |
| EBITDA | 70.69M | 56.04M | 93.80M | 39.70M | -833.00K |
| Net Income | 49.97M | 43.73M | 69.41M | 36.30M | -9.71M |
Balance Sheet | |||||
| Total Assets | 559.85M | 330.39M | 296.27M | 292.98M | 144.92M |
| Cash, Cash Equivalents and Short-Term Investments | 48.17M | 70.31M | 67.27M | 38.73M | 9.57M |
| Total Debt | 222.40M | 47.51M | 54.98M | 127.84M | 49.90M |
| Total Liabilities | 236.42M | 55.15M | 63.08M | 137.27M | 57.58M |
| Stockholders Equity | 323.43M | 275.24M | 233.18M | 155.71M | 87.35M |
Cash Flow | |||||
| Free Cash Flow | -231.46M | 12.48M | 56.04M | -111.73M | -4.91M |
| Operating Cash Flow | 50.08M | 59.67M | 67.95M | 33.85M | -3.12M |
| Investing Cash Flow | -244.59M | -47.41M | 25.72M | -112.95M | -770.00K |
| Financing Cash Flow | 172.46M | -9.21M | -65.14M | 109.25M | -7.91M |
Performance Shipping Technical Analysis
Negative
1.91
Price Trends
1.77
Negative
1.91
Negative
2.00
Negative
Market Momentum
-0.02
Positive
43.84
Neutral
13.77
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PSHG, the sentiment is Negative. The current price of 1.91 is above the 20-day moving average (MA) of 1.74, above the 50-day MA of 1.77, and below the 200-day MA of 2.00, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 43.84 is Neutral, neither overbought nor oversold. The STOCH value of 13.77 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PSHG.
Performance Shipping Risk Analysis
Performance Shipping disclosed 72 risk factors in its most recent earnings report. Performance 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
Performance Shipping Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $42.56M | 11.93 | 3.87% | ― | -20.22% | -47.01% | |
67 Neutral | $20.29M | 0.27 | -5.54% | ― | 24.97% | ― | |
64 Neutral | $20.89M | 0.72 | 9.79% | ― | 11.81% | -51.76% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | $64.53M | 84.41 | 0.47% | ― | 33.71% | ― | |
52 Neutral | $25.09M | -12.60 | -3.33% | 6.20% | -10.84% | 72.72% | |
45 Neutral | $5.75M | 1.15 | 7.94% | ― | -6.63% | -38.69% |
* Industrials Sector Average
PSHG
Performance Shipping
1.68
-0.02
-1.18%
GLBS
Globus Maritime
2.99
1.83
156.65%
TOPS
Top Ships
0.77
-4.57
-85.57%
PXS
Pyxis Tankers
4.16
1.30
45.45%
CTRM
Castor Maritime
2.10
-0.03
-1.41%
USEA
United Maritime Corp.
2.63
1.35
105.63%
Performance Shipping Corporate Events
Performance Shipping Wins Bondholder Approval to Convert Secured Notes to Senior Unsecured
Jun 29, 2026
On June 29, 2026, Performance Shipping Inc. reported that bondholders approved amendments converting its 9.875% senior secured bonds into senior unsecured obligations. The changes release existing collateral, including mortgages over the P. Monter...
Performance Shipping Posts Strong Q1 Revenue, Deepens Charter Backlog and Fleet Renewal
May 26, 2026
On May 26, 2026, Performance Shipping reported first-quarter 2026 net income of $10.2 million, down from $29.4 million a year earlier due to a prior-period vessel sale gain, while revenue rose to $33.8 million from $21.3 million on the back of fle...
Performance Shipping Secures Long-Term Charters for Two Suezmax Newbuildings
Apr 16, 2026
On April 16, 2026, Athens-based Performance Shipping Inc. announced it has signed long-term time charter agreements with Repsol Trading S.A. for two 158,000 dwt Suezmax tanker newbuildings under construction in China. The vessels, fitted with scru...
Performance Shipping to Sell Aframax Tanker M/T P. Aliki for US$42.65 Million in Fleet Renewal Move
Apr 14, 2026
On April 14, 2026, Performance Shipping Inc. announced it has signed a Memorandum of Agreement to sell its oldest vessel, the 2010-built Aframax tanker M/T P. Aliki, to Trafigura Maritime Logistics for US$42.65 million. Delivery to the buyer is ex...
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.