Performance Shipping (PSHG)
NASDAQ:PSHG
Top Page
Performance Shipping
(NASDAQ:PSHG)
Select Model
Select Model
Rating:74Outperform
Price Target:
$2.50
▲(35.87% Upside)
Action:ReiteratedDate:12/02/25
Performance Shipping's stock is supported by strong valuation metrics and positive technical indicators. However, financial performance is mixed due to revenue decline and unclear cash flow data, which slightly dampens the overall score.
Positive Factors
Low leverage / strong balance sheet
A very low debt-to-equity ratio and high equity ratio provide durable financial resilience, reducing refinancing and solvency risk during tanker market cycles. Strong ROE shows efficient capital use, supporting long-term investment, charter underwriting and lender confidence.
Negative Factors
Revenue decline and rate sensitivity
Revenue and earnings have meaningfully contracted amid weaker time‑charter equivalent rates and downtime. Dependence on volatile charter rates and available days makes topline and cash generation cyclical, requiring sustained long-term charter coverage to stabilize earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
A very low debt-to-equity ratio and high equity ratio provide durable financial resilience, reducing refinancing and solvency risk during tanker market cycles. Strong ROE shows efficient capital use, supporting long-term investment, charter underwriting and lender confidence.
Read all positive factors
Performance Shipping (PSHG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$22.88M
Dividend YieldN/A
Average Volume (3M)199.56K
Price to Earnings (P/E)0.5
Beta (1Y)>-0.01
Revenue Growth-11.07%
EPS Growth-13.39%
CountryUS
Employees211
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.19
Shares Outstanding12,432,158
10 Day Avg. Volume190,926
30 Day Avg. Volume199,565
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.08
Price to Sales (P/S)0.26
P/FCF Ratio1.84
Enterprise Value/Market Cap1.62
Enterprise Value/Revenue0.46
Enterprise Value/Gross Profit0.84
Enterprise Value/Ebitda0.56
Forecast
1Y Price Target
$5.75Price Target Upside212.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1
Revenue Forecast (FY)$120.29M
Performance Shipping Business Overview & Revenue Model
Company Description
Performance Shipping Inc., through its subsidiaries, provides shipping transportation services through its ownership of tanker vessels worldwide. It owned and operated five Aframax tanker vessels with a combined carrying capacity of 546,094 dwt. T...
How the Company Makes Money
Performance Shipping generates revenue primarily through the chartering of its fleet of tankers. The company earns income by entering into time charters and spot charters, where it leases its vessels to third parties for the transportation of crud...
Performance Shipping Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
80
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 79.69M | 87.44M | 108.94M | 75.17M | 36.49M | 42.05M |
| Gross Profit | 44.13M | 50.11M | 67.92M | 37.20M | -2.49M | 14.22M |
| EBITDA | 66.21M | 56.04M | 93.80M | 39.70M | -833.00K | 10.18M |
| Net Income | 52.12M | 43.73M | 69.41M | 36.30M | -9.71M | 3.78M |
Balance Sheet | ||||||
| Total Assets | 554.31M | 330.39M | 296.27M | 292.98M | 144.92M | 157.85M |
| Cash, Cash Equivalents and Short-Term Investments | 212.17M | 70.31M | 67.27M | 38.73M | 9.57M | 21.38M |
| Total Debt | 225.30M | 47.51M | 54.98M | 127.84M | 49.90M | 57.67M |
| Total Liabilities | 238.03M | 55.15M | 63.08M | 137.27M | 57.58M | 61.06M |
| Stockholders Equity | 316.28M | 275.24M | 233.18M | 155.71M | 87.35M | 96.80M |
Cash Flow | ||||||
| Free Cash Flow | -35.36M | 12.48M | 56.04M | -111.73M | -4.91M | -50.43M |
| Operating Cash Flow | 26.37M | 59.67M | 67.95M | 33.85M | -3.12M | 13.18M |
| Investing Cash Flow | -90.16M | -47.41M | 25.72M | -112.95M | -770.00K | -40.15M |
| Financing Cash Flow | 186.47M | -9.21M | -65.14M | 109.25M | -7.91M | 21.98M |
Performance Shipping Technical Analysis
Negative
1.84
Price Trends
2.09
Negative
2.15
Negative
2.01
Negative
Market Momentum
-0.09
Positive
40.39
Neutral
25.44
Neutral
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 1.84 is below the 20-day moving average (MA) of 2.05, below the 50-day MA of 2.09, and below the 200-day MA of 2.01, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 40.39 is Neutral, neither overbought nor oversold. The STOCH value of 25.44 is Neutral, 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 3 New Risks
1.
The Series B Preferred Shares and Series C Preferred Shares are only redeemable at our option and investors should not expect us to redeem the Series B Preferred Shares or Series C Preferred Shares in the future. Q4, 2022
2.
There is no established trading market for the Series B Preferred Shares or Series C Preferred Shares, which may negatively affect the market value of the Series B Preferred Shares and Series C Preferred Shares and your ability to transfer or sell them. Q4, 2022
3.
The Series B Preferred Shares and Series C Preferred Shares represent perpetual equity interests in us. Q4, 2022
Performance Shipping Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $22.88M | 0.53 | 16.53% | ― | -11.07% | -13.39% | |
65 Neutral | $14.34M | 1.35 | 7.94% | ― | 4.77% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $44.46M | 29.46 | 2.13% | ― | -23.25% | -107.24% | |
52 Neutral | $17.88M | 0.26 | -5.54% | ― | -1.35% | -118.25% | |
51 Neutral | $49.86M | -20.72 | -2.65% | ― | 18.49% | -264.74% | |
47 Neutral | $18.53M | -2.44 | -10.68% | 6.20% | -8.96% | -88.67% |
* Industrials Sector Average
PSHG
Performance Shipping
1.84
0.26
16.46%
GLBS
Globus Maritime
2.31
1.10
91.07%
TOPS
Top Ships
3.10
-2.72
-46.74%
PXS
Pyxis Tankers
4.24
0.97
29.66%
CTRM
Castor Maritime
1.85
-0.46
-19.91%
USEA
United Maritime Corp.
2.02
0.83
70.32%
Performance Shipping Corporate Events
Performance Shipping Locks In Three-Year, $31,000-Per-Day Charter for Aframax Tanker
Jan 21, 2026
On January 20, 2026, Performance Shipping Inc. announced that a wholly owned subsidiary had entered into a three-year time charter with PBF Holding Company LLC, a subsidiary of PBF Energy, for the 105,525 dwt Aframax tanker M/T P. Monterey at a gr...
Performance Shipping Takes Delivery of Third LR2 Tanker M/T P. Marseille
Jan 14, 2026
On January 14, 2026, Performance Shipping Inc. announced the naming and delivery of the M/T P. Marseille, a 114,000 DWT LNG‑ready Tier III product/crude oil tanker built at Shanghai Waigaoqiao Shipbuilding in China, marking the third and fin...
Performance Shipping Raises USD 50 Million via Tap of 2029 Senior Secured Bond
Jan 13, 2026
On January 13, 2026, Performance Shipping Inc. announced it had successfully executed a USD 50 million tap issue to its existing senior secured bond maturing July 17, 2029, increasing the total outstanding amount under the bond to USD 150 million....
Performance Shipping Completes Two-Vessel Suezmax Expansion With Delivery of M/T P. Beverly Hills
Dec 22, 2025
On December 22, 2025, Performance Shipping Inc. announced it had taken delivery of the M/T P. Beverly Hills, a 2019-built Suezmax tanker of 157,286 dwt acquired through a wholly owned subsidiary under a purchase agreement signed in October 2025. T...
Performance Shipping Inc. Completes Early Delivery of Suezmax Tanker M/T P. Bel Air
Dec 17, 2025
On December 15, 2025, Performance Shipping Inc. announced the delivery of the M/T P. Bel Air, a 2019-built Suezmax tanker, as part of the company’s expansion plan to modernize its fleet. The vessel has commenced a three-year time charter wit...
Performance Shipping Inc. Cancels Forward Sale of M/T P. Sophia
Dec 5, 2025
On December 5, 2025, Performance Shipping Inc. announced that the potential forward sale of their Aframax tanker, M/T P. Sophia, will not proceed. Initially, an agreement was made with a third party for the conversion of the vessel into a Floating...
Performance Shipping Inc. Announces Key Decisions from Annual General Meeting
Dec 4, 2025
Performance Shipping Inc. held its Annual General Meeting of Shareholders on December 3, 2025, in Athens, Greece. During the meeting, shareholders approved the election of Alex Papageorgiou and Mihalis Boutaris as Class III directors to serve unti...
Performance Shipping Inc. Reports Q3 2025 Financial Results and Fleet Expansion
Dec 2, 2025
Performance Shipping Inc. reported a net income of $3.9 million for the third quarter of 2025, a decrease from $12.4 million in the same period of 2024, due to lower time-charter equivalent rates and reduced available days from vessel drydocking. ...
Performance Shipping Inc. Secures Lucrative Charter Contracts in November 2025
Nov 7, 2025
Performance Shipping Inc. announced two significant time charter contracts in early November 2025. On November 4, the company secured a two-year time charter contract for its M/T P. Long Beach tanker with SeaRiver Maritime, a subsidiary of ExxonMo...
Performance Shipping Inc. Announces December 2025 Annual Meeting
Nov 4, 2025
On November 4, 2025, Performance Shipping Inc. announced its upcoming Annual General Meeting of Shareholders scheduled for December 3, 2025, in Athens, Greece. Shareholders will vote on the election of two Class III Directors, the ratification of ...
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.