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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 | $26.23M | 1.19 | 17.90% | ― | -11.07% | -13.39% | |
65 Neutral | $23.64M | 2.22 | 7.94% | ― | 4.77% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | $34.97M | -14.37 | 0.28% | ― | -23.25% | -107.24% | |
52 Neutral | $22.71M | -0.75 | -5.54% | ― | -1.35% | -118.25% | |
51 Neutral | $33.14M | -7.17 | -2.63% | ― | 18.49% | -264.74% | |
47 Neutral | $16.32M | -3.59 | -7.09% | 6.20% | -8.96% | -88.67% |
Performance Shipping Corporate Events
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 gross rate of $31,000 per day. The charter, expected to begin in mid-February, is estimated to generate about $33 million in gross revenue over its minimum term and lifts the company’s aggregate contracted revenue backlog to a record roughly $349 million as of January 1, 2026, reinforcing cash flow visibility and supporting its strategy of securing medium- to long-term employment with strong counterparties.
The most recent analyst rating on (PSHG) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on Performance Shipping stock, see the PSHG Stock Forecast page.
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 final LR2 vessel in its current newbuilding program. The vessel, which follows the earlier deliveries of the M/T P. Massport and M/T P. Tokyo, was immediately delivered to Clearlake Shipping Pte Ltd under a five‑year time charter with extension options, strengthening Performance Shipping’s fleet renewal strategy, enhancing its operational efficiency and environmental profile, and providing greater revenue visibility, while one LR1 chemical/product tanker remains under construction for delivery in early 2027.
The most recent analyst rating on (PSHG) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on Performance Shipping stock, see the PSHG Stock Forecast page.
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. The new tranche, initiated via reverse inquiry and priced at 103% of par with a 9.875% fixed annual coupon paid semi-annually, is expected to close on January 26, 2026, with net proceeds earmarked for general corporate purposes, underscoring the company’s continued access to institutional debt markets and providing additional financial flexibility for its tanker-focused operations.
The most recent analyst rating on (PSHG) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on Performance Shipping stock, see the PSHG Stock Forecast page.
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. This vessel is the second of two 2019-built Suezmax tankers recently acquired, completing the company’s latest Suezmax expansion and bringing its fleet to 12 tankers, including two newbuilds under construction and 10 vessels currently in operation; the immediate chartering of both new Suezmaxes to Repsol Trading S.A. is expected to bolster cash-flow visibility and underscores the company’s strategic push to expand and modernize its fleet for greater operational efficiency and environmental performance in the global tanker market.
The most recent analyst rating on (PSHG) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on Performance Shipping stock, see the PSHG Stock Forecast page.
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 with Repsol Trading S.A., marking the company’s first partnership with the charterer. This delivery represents a significant operational milestone, with the company’s fleet now consisting of twelve tanker vessels, enhancing its market presence and boosting long-term earnings potential.
The most recent analyst rating on (PSHG) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on Performance Shipping stock, see the PSHG Stock Forecast page.
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.
The most recent analyst rating on (PSHG) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on Performance Shipping stock, see the PSHG Stock Forecast page.
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.
The most recent analyst rating on (PSHG) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on Performance Shipping stock, see the PSHG Stock Forecast page.
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.
The most recent analyst rating on (PSHG) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on Performance Shipping stock, see the PSHG Stock Forecast page.
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.
The most recent analyst rating on (PSHG) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Performance Shipping stock, see the PSHG Stock Forecast page.
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.
The most recent analyst rating on (PSHG) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Performance Shipping stock, see the PSHG Stock Forecast page.