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Performance Shipping
(NASDAQ:PSHG)
Performance Shipping (PSHG) vs. SPDR S&P 500 ETF (SPY)
Performance Shipping Business Overview & Revenue Model
Performance Shipping Financial Statement Overview
| 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 | 12.05M | 59.67M | 67.95M | 33.85M | -3.12M | 13.18M |
| Investing Cash Flow | -7.70M | -47.41M | 25.72M | -112.95M | -770.00K | -40.15M |
| Financing Cash Flow | -2.57M | -9.21M | -65.14M | 109.25M | -7.91M | 21.98M |
Performance Shipping Technical Analysis
Performance Shipping Risk Analysis
Performance Shipping Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $25.24M | 1.02 | 17.90% | ― | -11.07% | -13.39% | |
65 Neutral | $27.76M | 2.60 | 7.94% | ― | 4.77% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
54 Neutral | $23.67M | -4.01 | -2.63% | ― | 18.49% | -264.74% | |
52 Neutral | $28.10M | -77.01 | 0.28% | ― | -23.25% | -107.24% | |
52 Neutral | $17.15M | ― | -7.09% | 6.63% | -8.96% | -88.67% | |
49 Neutral | $19.03M | ― | -5.54% | ― | -1.35% | -118.25% |
Performance Shipping Corporate Events
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 Production Storage and Offloading unit for an offshore project. However, the vessel was not selected for the project, leading to the lapse of the agreement. This decision means the M/T P. Sophia will remain part of Performance Shipping’s operational fleet, potentially affecting the company’s strategic plans and market positioning.
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 until 2028 and ratified the appointment of Ernst & Young (Hellas) as independent auditors for the fiscal year ending December 31, 2025. These decisions are expected to strengthen the company’s governance and ensure financial transparency, potentially enhancing its position in the maritime industry.
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. Despite this, the company achieved significant milestones, including securing new time-charter agreements and acquiring two modern Suezmax tankers, enhancing its fleet capacity and reducing the average fleet age. These strategic moves, supported by a $100 million Nordic bond issuance, position the company for future growth in a firm tanker market, driven by geopolitical disruptions and increased global demand.
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.
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.
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.