ARDMORE SHIPPING CORP (ASC) Fundamental Analysis & Valuation

NYSE:ASC • MHY0207T1001

16.59 USD
+0.12 (+0.73%)
Last: Mar 4, 2026, 03:06 PM
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This ASC fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

ASC gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 207 industry peers in the Oil, Gas & Consumable Fuels industry. ASC has an average financial health and profitability rating. ASC does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

5

1. ASC Profitability Analysis

1.1 Basic Checks

  • ASC had positive earnings in the past year.
  • In the past year ASC had a positive cash flow from operations.
  • Of the past 5 years ASC 4 years were profitable.
  • Of the past 5 years ASC 4 years had a positive operating cash flow.
ASC Yearly Net Income VS EBIT VS OCF VS FCFASC Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M -50M 100M -100M 150M

1.2 Ratios

  • With a decent Return On Assets value of 4.57%, ASC is doing good in the industry, outperforming 60.39% of the companies in the same industry.
  • The Return On Equity of ASC (5.69%) is comparable to the rest of the industry.
  • ASC has a Return On Invested Capital of 4.89%. This is comparable to the rest of the industry: ASC outperforms 43.48% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for ASC is significantly below the industry average of 22.19%.
  • The 3 year average ROIC (11.77%) for ASC is well above the current ROIC(4.89%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 4.57%
ROE 5.69%
ROIC 4.89%
ROA(3y)13.08%
ROA(5y)10.53%
ROE(3y)15.22%
ROE(5y)12.15%
ROIC(3y)11.77%
ROIC(5y)N/A
ASC Yearly ROA, ROE, ROICASC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20

1.3 Margins

  • Looking at the Profit Margin, with a value of 11.63%, ASC is in the better half of the industry, outperforming 60.39% of the companies in the same industry.
  • In the last couple of years the Profit Margin of ASC has declined.
  • ASC has a Operating Margin (15.21%) which is comparable to the rest of the industry.
  • ASC's Operating Margin has improved in the last couple of years.
  • ASC has a Gross Margin (41.81%) which is comparable to the rest of the industry.
  • ASC's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 15.21%
PM (TTM) 11.63%
GM 41.81%
OM growth 3Y-24.8%
OM growth 5Y12.47%
PM growth 3Y-27.34%
PM growth 5YN/A
GM growth 3Y-7.05%
GM growth 5Y3.82%
ASC Yearly Profit, Operating, Gross MarginsASC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40

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6

2. ASC Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ASC is creating some value.
  • ASC has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, ASC has more shares outstanding
  • Compared to 1 year ago, ASC has a worse debt to assets ratio.
ASC Yearly Shares OutstandingASC Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M 40M
ASC Yearly Total Debt VS Total AssetsASC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M

2.2 Solvency

  • ASC has an Altman-Z score of 3.66. This indicates that ASC is financially healthy and has little risk of bankruptcy at the moment.
  • The Altman-Z score of ASC (3.66) is better than 85.02% of its industry peers.
  • A Debt/Equity ratio of 0.20 indicates that ASC is not too dependend on debt financing.
  • The Debt to Equity ratio of ASC (0.20) is better than 72.95% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF N/A
Altman-Z 3.66
ROIC/WACC0.6
WACC8.17%
ASC Yearly LT Debt VS Equity VS FCFASC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M

2.3 Liquidity

  • ASC has a Current Ratio of 4.33. This indicates that ASC is financially healthy and has no problem in meeting its short term obligations.
  • ASC's Current ratio of 4.33 is amongst the best of the industry. ASC outperforms 87.44% of its industry peers.
  • A Quick Ratio of 3.98 indicates that ASC has no problem at all paying its short term obligations.
  • With an excellent Quick ratio value of 3.98, ASC belongs to the best of the industry, outperforming 87.44% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 4.33
Quick Ratio 3.98
ASC Yearly Current Assets VS Current LiabilitesASC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M

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2

3. ASC Growth Analysis

3.1 Past

  • ASC shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -67.02%.
  • ASC shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 73.38% yearly.
  • Looking at the last year, ASC shows a very negative growth in Revenue. The Revenue has decreased by -23.56% in the last year.
  • The Revenue has been growing slightly by 7.10% on average over the past years.
EPS 1Y (TTM)-67.02%
EPS 3Y-36.2%
EPS 5Y73.38%
EPS Q2Q%12%
Revenue 1Y (TTM)-23.56%
Revenue growth 3Y-11.38%
Revenue growth 5Y7.1%
Sales Q2Q%1.06%

3.2 Future

  • Based on estimates for the next years, ASC will show a very negative growth in Earnings Per Share. The EPS will decrease by -95.34% on average per year.
  • The Revenue is expected to decrease by -14.93% on average over the next years. This is quite bad
EPS Next Y-15.47%
EPS Next 2Y-95.34%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-44.52%
Revenue Next 2Y-14.93%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
ASC Yearly Revenue VS EstimatesASC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M 400M
ASC Yearly EPS VS EstimatesASC Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 -1 2 3

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2

4. ASC Valuation Analysis

4.1 Price/Earnings Ratio

  • ASC is valuated rather expensively with a Price/Earnings ratio of 17.65.
  • ASC's Price/Earnings is on the same level as the industry average.
  • ASC's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.83.
  • The Price/Forward Earnings ratio is 20.88, which indicates a rather expensive current valuation of ASC.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of ASC is on the same level as its industry peers.
  • ASC's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 24.95.
Industry RankSector Rank
PE 17.65
Fwd PE 20.88
ASC Price Earnings VS Forward Price EarningsASC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ASC is on the same level as its industry peers.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 9.26
ASC Per share dataASC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

4.3 Compensation for Growth

  • A cheap valuation may be justified as ASC's earnings are expected to decrease with -95.34% in the coming years.
PEG (NY)N/A
PEG (5Y)0.24
EPS Next 2Y-95.34%
EPS Next 3YN/A

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3

5. ASC Dividend Analysis

5.1 Amount

  • ASC has a Yearly Dividend Yield of 1.94%.
  • Compared to an average industry Dividend Yield of 3.47, ASC has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, ASC has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.94%

5.2 History

  • ASC has been paying a dividend for over 5 years, so it has already some track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
ASC Yearly Dividends per shareASC Yearly Dividends per shareYearly Dividends per share 2016 2020 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • 42.54% of the earnings are spent on dividend by ASC. This is a bit on the high side, but may be sustainable.
DP42.54%
EPS Next 2Y-95.34%
EPS Next 3YN/A
ASC Yearly Income VS Free CF VS DividendASC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M -50M 100M -100M
ASC Dividend Payout.ASC Dividend Payout, showing the Payout Ratio.ASC Dividend Payout.PayoutRetained Earnings

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ASC Fundamentals: All Metrics, Ratios and Statistics

ARDMORE SHIPPING CORP

NYSE:ASC (3/4/2026, 3:06:39 PM)

16.59

+0.12 (+0.73%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-12
Earnings (Next)N/A
Inst Owners69%
Inst Owner Change7.49%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap675.21M
Revenue(TTM)310.20M
Net Income(TTM)36.07M
Analysts82.86
Price Target16.27 (-1.93%)
Short Float %5.28%
Short Ratio2.65
Dividend
Industry RankSector Rank
Dividend Yield 1.94%
Yearly Dividend1.2
Dividend Growth(5Y)N/A
DP42.54%
Div Incr Years0
Div Non Decr Years0
Ex-Date02-27
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.99%
Min EPS beat(2)-6.02%
Max EPS beat(2)10.01%
EPS beat(4)3
Avg EPS beat(4)9.69%
Min EPS beat(4)-6.02%
Max EPS beat(4)28.13%
EPS beat(8)5
Avg EPS beat(8)3.17%
EPS beat(12)8
Avg EPS beat(12)3.3%
EPS beat(16)12
Avg EPS beat(16)9.19%
Revenue beat(2)2
Avg Revenue beat(2)60.82%
Min Revenue beat(2)50.75%
Max Revenue beat(2)70.9%
Revenue beat(4)3
Avg Revenue beat(4)40.21%
Min Revenue beat(4)-19.84%
Max Revenue beat(4)70.9%
Revenue beat(8)7
Avg Revenue beat(8)34.98%
Revenue beat(12)11
Avg Revenue beat(12)35.5%
Revenue beat(16)15
Avg Revenue beat(16)44.13%
PT rev (1m)3.24%
PT rev (3m)4.25%
EPS NQ rev (1m)31.15%
EPS NQ rev (3m)4.99%
EPS NY rev (1m)0%
EPS NY rev (3m)-42.83%
Revenue NQ rev (1m)-29.63%
Revenue NQ rev (3m)-29.63%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-23.71%
Valuation
Industry RankSector Rank
PE 17.65
Fwd PE 20.88
P/S 2.18
P/FCF N/A
P/OCF 8.27
P/B 1.06
P/tB 1.06
EV/EBITDA 9.26
EPS(TTM)0.94
EY5.67%
EPS(NY)0.79
Fwd EY4.79%
FCF(TTM)-0.97
FCFYN/A
OCF(TTM)2.01
OCFY12.09%
SpS7.62
BVpS15.59
TBVpS15.59
PEG (NY)N/A
PEG (5Y)0.24
Graham Number18.16
Profitability
Industry RankSector Rank
ROA 4.57%
ROE 5.69%
ROCE 6.19%
ROIC 4.89%
ROICexc 5.21%
ROICexgc 5.21%
OM 15.21%
PM (TTM) 11.63%
GM 41.81%
FCFM N/A
ROA(3y)13.08%
ROA(5y)10.53%
ROE(3y)15.22%
ROE(5y)12.15%
ROIC(3y)11.77%
ROIC(5y)N/A
ROICexc(3y)12.64%
ROICexc(5y)N/A
ROICexgc(3y)12.64%
ROICexgc(5y)N/A
ROCE(3y)14.9%
ROCE(5y)N/A
ROICexgc growth 3Y-36.47%
ROICexgc growth 5Y17.44%
ROICexc growth 3Y-36.47%
ROICexc growth 5Y17.44%
OM growth 3Y-24.8%
OM growth 5Y12.47%
PM growth 3Y-27.34%
PM growth 5YN/A
GM growth 3Y-7.05%
GM growth 5Y3.82%
F-Score5
Asset Turnover0.39
Health
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF N/A
Debt/EBITDA 1.57
Cap/Depr 357.48%
Cap/Sales 39.01%
Interest Coverage 250
Cash Conversion 100.76%
Profit Quality N/A
Current Ratio 4.33
Quick Ratio 3.98
Altman-Z 3.66
F-Score5
WACC8.17%
ROIC/WACC0.6
Cap/Depr(3y)217.56%
Cap/Depr(5y)134.9%
Cap/Sales(3y)20.21%
Cap/Sales(5y)12.58%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-67.02%
EPS 3Y-36.2%
EPS 5Y73.38%
EPS Q2Q%12%
EPS Next Y-15.47%
EPS Next 2Y-95.34%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-23.56%
Revenue growth 3Y-11.38%
Revenue growth 5Y7.1%
Sales Q2Q%1.06%
Revenue Next Year-44.52%
Revenue Next 2Y-14.93%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-63.22%
EBIT growth 3Y-33.36%
EBIT growth 5Y20.46%
EBIT Next Year100.07%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-139.75%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-49.11%
OCF growth 3Y-13.05%
OCF growth 5Y12.11%

ARDMORE SHIPPING CORP / ASC FAQ

What is the ChartMill fundamental rating of ARDMORE SHIPPING CORP (ASC) stock?

ChartMill assigns a fundamental rating of 4 / 10 to ASC.


Can you provide the valuation status for ARDMORE SHIPPING CORP?

ChartMill assigns a valuation rating of 2 / 10 to ARDMORE SHIPPING CORP (ASC). This can be considered as Overvalued.


Can you provide the profitability details for ARDMORE SHIPPING CORP?

ARDMORE SHIPPING CORP (ASC) has a profitability rating of 5 / 10.


How financially healthy is ARDMORE SHIPPING CORP?

The financial health rating of ARDMORE SHIPPING CORP (ASC) is 6 / 10.


Is the dividend of ARDMORE SHIPPING CORP sustainable?

The dividend rating of ARDMORE SHIPPING CORP (ASC) is 3 / 10 and the dividend payout ratio is 42.54%.