Performance Shipping (PSHG) AI Stock Analysis

• Market Cap: $25.24M
• Dividend Yield: N/A
• Average Volume (3M): 101.57K
• Price to Earnings (P/E): 1.0
• Beta (1Y): -0.04
• Revenue Growth: -7.48%
• EPS Growth: 3.08%
• Country: US
• Employees: 211
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): N/A
• Shares Outstanding: 12,432,158
• 10 Day Avg. Volume: 89,731
• 30 Day Avg. Volume: 101,567
• PEG Ratio: -0.01
• Price to Book (P/B): 0.08
• Price to Sales (P/S): 0.26
• P/FCF Ratio: 1.84
• Enterprise Value/Market Cap: -1.20
• Enterprise Value/Revenue: -0.36
• Enterprise Value/Gross Profit: -0.65
• Enterprise Value/Ebitda: -0.41
• 1Y Price Target: $4.00
• Price Target Upside: 79.37% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: $2.00 ▼(-10.31% Downside)

Performance Shipping's overall score is driven by strong technical indicators and attractive valuation. While financial performance is solid in terms of profitability and balance sheet strength, revenue decline and cash flow transparency are concerns. The absence of earnings call and corporate events data did not impact the score.

Positive Factors

Fleet Expansion

The addition of modern, high-specification vessels like M/T P. Tokyo enhances operational capacity and market position, supporting long-term growth.

Long-term Charter Contracts

Securing long-term contracts provides revenue stability and visibility, which can improve financial planning and shareholder value over time.

Strong Balance Sheet

A robust balance sheet with low leverage enhances financial stability, allowing for strategic investments and resilience against market fluctuations.

Negative Factors

Declining Revenue

A significant decline in revenue can impact profitability and limit resources available for growth initiatives, posing a risk to long-term performance.

Cash Flow Concerns

Lack of clear cash flow data raises concerns about the company's ability to generate cash, affecting its capacity to fund operations and investments.

Revenue Growth Challenges

Negative revenue growth indicates challenges in market expansion or competitive pressures, which could hinder long-term strategic objectives.

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. The company was incorporated in 2010 and is based in Athens, Greece.

How the Company Makes Money

Performance Shipping generates revenue primarily through the chartering of its tanker vessels. The company earns income from both time charters, where vessels are leased for a specific period, and voyage charters, where vessels are hired for a particular trip. Key revenue streams include long-term contracts with oil companies and traders, as well as spot market transactions which can fluctuate based on market demand and shipping rates. Additionally, PSHG may benefit from strategic partnerships with major oil producers and trading companies that require reliable shipping services, further enhancing its revenue potential. The company’s earnings can also be influenced by market conditions, including oil prices and the global demand for shipping capacity.

Performance Shipping Financial Statement Overview

Summary

Performance Shipping shows strong profitability and a robust balance sheet with low leverage. However, the company faces challenges with declining revenue and unclear cash flow data, which impacts its financial health.

Income Statement

Performance Shipping has shown a mixed performance with declining revenue in the latest year, which decreased by 19.7% from the previous year. However, the company maintains strong profitability metrics with a gross profit margin of 72.6% and a net profit margin of 50.0%. The EBIT margin of 47.8% and EBITDA margin of 64.1% indicate effective cost management despite revenue challenges.

Balance Sheet

The company's balance sheet is robust with a low debt-to-equity ratio of 0.17, reflecting a strong equity base. The equity ratio stands at 83.3%, indicating financial stability and low leverage risk. Return on equity (ROE) is high at 15.9%, showing efficient use of shareholders' equity to generate profits.

Cash Flow

The absence of operating cash flow and free cash flow data for the latest period raises concerns about cash generation capabilities. Previous data shows inconsistent free cash flow figures, and the lack of current cash flow metrics limits the assessment of cash flow strength.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	84.04M	87.44M	108.94M	75.17M	36.49M	42.05M
Gross Profit	46.68M	50.11M	67.92M	37.20M	-2.49M	14.22M
EBITDA	74.01M	56.04M	93.80M	39.70M	-833.00K	10.18M
Net Income	60.62M	43.73M	69.41M	36.30M	-9.71M	3.78M
Balance Sheet
Total Assets	363.80M	330.39M	296.27M	292.98M	144.92M	157.85M
Cash, Cash Equivalents and Short-Term Investments	95.78M	70.31M	67.27M	38.73M	9.57M	21.38M
Total Debt	43.75M	47.51M	54.98M	127.84M	49.90M	57.67M
Total Liabilities	50.97M	55.15M	63.08M	137.27M	57.58M	61.06M
Stockholders Equity	312.83M	275.24M	233.18M	155.71M	87.35M	96.80M
Cash Flow
Free Cash Flow	-19.21M	12.48M	56.04M	-111.73M	-4.91M	-50.43M
Operating Cash Flow	28.20M	59.67M	67.95M	33.85M	-3.12M	13.18M
Investing Cash Flow	-14.72M	-47.41M	25.72M	-112.95M	-770.00K	-40.15M
Financing Cash Flow	-4.91M	-9.21M	-65.14M	109.25M	-7.91M	21.98M

Performance Shipping Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.23
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PSHG, the sentiment is Positive. The current price of 2.23 is above the 20-day moving average (MA) of 2.11, above the 50-day MA of 1.99, and above the 200-day MA of 1.75, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 61.92 is Neutral, neither overbought nor oversold. The STOCH value of 64.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PSHG.

Performance Shipping Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PSHG	74 Outperform	$25.24M	1.02	21.39%	―	-7.48%	3.08%
TOPS	65 Neutral	$27.76M	2.60	7.94%	―	4.77%	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
PXS	52 Neutral	$28.10M	-77.01	0.28%	―	-23.25%	-107.24%
USEA	52 Neutral	$13.90M	-2.10	-7.09%	7.89%	-8.96%	-88.67%
GLBS	51 Neutral	$23.67M	-4.01	-3.35%	―	11.80%	-186.40%
CTRM	46 Neutral	$18.94M	-0.60	-8.88%	―	-19.63%	-144.86%

Performance Shipping Corporate Events

Performance Shipping Inc. Secures Lucrative Charter Contracts in November 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 ExxonMobil, at a rate of $30,500 per day. This contract is expected to enhance the company’s revenue backlog by approximately $21.35 million. Additionally, on November 6, Performance Shipping secured three-year time charter contracts with Repsol for two newly acquired Suezmax tankers at a rate of $36,500 per day each. These contracts reflect favorable market dynamics and are expected to optimize the company’s fleet deployment strategy, increasing its total secured revenue backlog to approximately $257 million and improving its fixed charter coverage for the upcoming years.

Performance Shipping Inc. Announces December 2025 Annual Meeting

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 Ernst & Young as independent auditors, and other business matters. This meeting is crucial for stakeholders as it will determine key leadership roles and financial oversight for the company, impacting its strategic direction and governance.

Performance Shipping Expands Fleet with New Suezmax Tankers

On October 9, 2025, Performance Shipping Inc. announced the expansion of its fleet with the acquisition of two modern Suezmax tankers, the M/T Eco Bel Air and the M/T Eco Beverly Hills, built in 2019. These acquisitions align with the company’s strategy of fleet modernization and expansion in the midsize tanker segment. The vessels, featuring eco-design and energy-efficient technologies, are expected to be delivered between December 2025 and January 2026, enhancing the company’s operational profile and positioning it for favorable employment opportunities.

Performance Shipping Inc. Delivers Second Newbuild Tanker M/T P. Tokyo

On September 2, 2025, Performance Shipping Inc. announced the successful naming and delivery of the M/T P. Tokyo, a 114,000 DWT LNG-ready Tier III product/crude oil tanker, marking the second vessel in its newbuilding program. This delivery is part of the company’s fleet expansion and renewal strategy, with the vessel commencing operations under a five-year charter contract with Clearlake Shipping Pte Ltd at a rate of US$31,000 per day, enhancing Performance Shipping’s industry positioning and operational capacity.

Performance Shipping Secures Lucrative Charter for M/T P. Aliki

On August 18, 2025, Performance Shipping Inc. announced a new time charter contract with Pakistan National Shipping Corporation for its M/T P. Aliki tanker. The vessel will be chartered for 12 months at a daily rate of US$30,000, increasing the company’s secured revenue backlog by approximately US$10.5 million. This contract highlights Performance Shipping’s strategic efforts to secure profitable employment for its vessels, enhancing revenue visibility and shareholder value.