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Performance Shipping
(NASDAQ:PSHG)
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Rating:65Neutral
Price Target:
$2.00
▲(12.36% Upside)
Action:Reiterated
Date:08/04/26
The score is primarily supported by strong reported profitability and a very low P/E valuation, but it is meaningfully constrained by deeply negative free cash flow and increased leverage. Technical signals are mixed-to-neutral, adding only modest support.
Positive Factors
Strong profitability
Sustained high TTM gross and net margins indicate the company earns strong spreads on tanker employment and operates efficiently. Durable profitability provides an earnings cushion through cycles, supports returns on equity and underpins the ability to invest in fleet renewal without immediate cash pressure.
Negative Factors
Deeply negative FCF
Persistent large negative free cash flow driven by heavy investments and fleet transactions increases dependence on external financing. Over months, this raises refinancing and execution risk if markets weaken, and constrains the firm's ability to absorb shocks or fund opportunistic needs from operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability
Sustained high TTM gross and net margins indicate the company earns strong spreads on tanker employment and operates efficiently. Durable profitability provides an earnings cushion through cycles, supports returns on equity and underpins the ability to invest in fleet renewal without immediate cash pressure.
Read all positive factors
Performance Shipping (PSHG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$21.88M
Dividend YieldN/A
Average Volume (3M)42.29K
Price to Earnings (P/E)0.6
Beta (1Y)-0.07
Revenue Growth34.61%
EPS Growth-41.81%
CountryUS
Employees292
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)2.76
Shares Outstanding12,432,158
10 Day Avg. Volume35,142
30 Day Avg. Volume42,287
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$5.25Price Target Upside194.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.27
Revenue Forecast (FY)$120.05M
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 primarily makes money by earning charter revenues from its tanker vessels. The company’s key revenue streams generally include: (1) Time-charter revenue, where a customer (charterer) hires a vessel for a defined period and pay...
Performance Shipping Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
58
Neutral
Cash Flow
32
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 113.13M | 84.17M | 87.44M | 108.94M | 75.17M | 36.49M |
| Gross Profit | 67.96M | 42.31M | 50.11M | 67.92M | 46.48M | 4.99M |
| EBITDA | 63.05M | 70.69M | 56.04M | 74.71M | 46.11M | -9.95M |
| Net Income | 33.60M | 49.97M | 43.73M | 69.41M | 12.00M | -9.71M |
Balance Sheet | ||||||
| Total Assets | 674.83M | 559.85M | 330.39M | 296.27M | 292.98M | 144.92M |
| Cash, Cash Equivalents and Short-Term Investments | 105.93M | 48.17M | 70.31M | 67.27M | 38.73M | 9.57M |
| Total Debt | 310.03M | 222.40M | 47.51M | 54.98M | 127.84M | 49.90M |
| Total Liabilities | 331.45M | 236.42M | 55.15M | 63.08M | 137.27M | 57.58M |
| Stockholders Equity | 343.38M | 323.43M | 275.24M | 233.18M | 155.71M | 87.35M |
Cash Flow | ||||||
| Free Cash Flow | -257.75M | -231.46M | 12.26M | 56.04M | -111.73M | -4.91M |
| Operating Cash Flow | 66.30M | 50.08M | 59.67M | 67.95M | 33.85M | -3.12M |
| Investing Cash Flow | -326.17M | -244.59M | -47.41M | 25.72M | -112.95M | -770.00K |
| Financing Cash Flow | 267.17M | 172.46M | -9.21M | -65.14M | 109.25M | -7.91M |
Performance Shipping Technical Analysis
Negative
1.78
Price Trends
1.74
Positive
1.78
Negative
1.97
Negative
Market Momentum
<0.01
Positive
49.89
Neutral
17.78
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 1.78 is above the 20-day moving average (MA) of 1.77, above the 50-day MA of 1.74, and below the 200-day MA of 1.97, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.89 is Neutral, neither overbought nor oversold. The STOCH value of 17.78 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 | $52.79M | 14.69 | 3.87% | ― | -20.22% | -47.01% | |
67 Neutral | $22.61M | 0.29 | 14.21% | ― | 24.97% | ― | |
65 Neutral | $21.88M | 0.63 | 9.57% | ― | 34.61% | -41.81% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $78.56M | 11.60 | 3.80% | ― | 47.79% | ― | |
57 Neutral | $6.57M | 1.33 | 2.85% | ― | -6.63% | -38.69% | |
52 Neutral | $25.75M | -13.14 | -3.34% | 12.55% | -16.73% | 72.04% |
* Industrials Sector Average
PSHG
Performance Shipping
1.75
-0.12
-6.42%
GLBS
Globus Maritime
3.67
2.64
254.59%
TOPS
Top Ships
0.88
-4.72
-84.29%
PXS
Pyxis Tankers
5.14
2.60
102.36%
CTRM
Castor Maritime
2.33
0.18
8.37%
USEA
United Maritime Corp.
2.70
1.33
97.22%
Performance Shipping Corporate Events
Performance Shipping Files Mid‑2026 Financial Update and MD&A on Form 6‑K
Jul 31, 2026
Performance Shipping Inc., an Athens-based marine transporter, charters its vessels primarily through short- and long-term time charters, spot voyages and participation in commercial pools. Under these arrangements, it collects fixed or voyage-lin...
Performance Shipping Secures Improved Nordea Facility Terms, Extends Debt Maturity to 2030
Jul 8, 2026
Performance Shipping Inc., a global tanker vessel operator, announced on July 8, 2026 that it has amended its secured loan facility with Nordea Bank through two wholly owned subsidiaries. The agreement extends the facility’s maturity to four...
Performance Shipping Secures Three-Year Charter Extension for Aframax Tanker with Aramco
Jul 6, 2026
On July 2, 2026, Performance Shipping extended the time charter of its 2011-built, 104,588 dwt Aframax tanker M/T Briolette with Aramco Trading Fujairah at a gross rate of US$37,700 per day for about 35 months, a deal announced on July 6, 2026. Th...
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...
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.