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SEANERGY MARITIME HOLDINGS (SHIP) Stock Fundamental Analysis

NASDAQ:SHIP - Nasdaq - MHY737604006 - Common Stock - Currency: USD

7.01  -0.33 (-4.5%)

After market: 7.36 +0.35 (+4.99%)

Fundamental Rating

4

Overall SHIP gets a fundamental rating of 4 out of 10. We evaluated SHIP against 29 industry peers in the Marine Transportation industry. There are concerns on the financial health of SHIP while its profitability can be described as average. SHIP has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year SHIP was profitable.
SHIP had a positive operating cash flow in the past year.
In multiple years SHIP reported negative net income over the last 5 years.
SHIP had a positive operating cash flow in 4 of the past 5 years.
SHIP Yearly Net Income VS EBIT VS OCF VS FCFSHIP Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M -50M -100M -150M -200M

1.2 Ratios

The Return On Assets of SHIP (10.59%) is better than 71.43% of its industry peers.
With an excellent Return On Equity value of 21.27%, SHIP belongs to the best of the industry, outperforming 82.14% of the companies in the same industry.
Industry RankSector Rank
ROA 10.59%
ROE 21.27%
ROIC N/A
ROA(3y)4.08%
ROA(5y)0.37%
ROE(3y)8.49%
ROE(5y)-6.57%
ROIC(3y)N/A
ROIC(5y)N/A
SHIP Yearly ROA, ROE, ROICSHIP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 -40 -60 -80

1.3 Margins

SHIP has a better Profit Margin (27.45%) than 64.29% of its industry peers.
SHIP has a better Operating Margin (40.03%) than 71.43% of its industry peers.
In the last couple of years the Operating Margin of SHIP has remained more or less at the same level.
SHIP's Gross Margin of 70.66% is amongst the best of the industry. SHIP outperforms 82.14% of its industry peers.
SHIP's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 40.03%
PM (TTM) 27.45%
GM 70.66%
OM growth 3YN/A
OM growth 5Y-0.77%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y18.63%
GM growth 5Y12.05%
SHIP Yearly Profit, Operating, Gross MarginsSHIP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50 -50

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1

2. Health

2.1 Basic Checks

SHIP does not have a ROIC to compare to the WACC, probably because it is not profitable.
SHIP has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, SHIP has more shares outstanding
SHIP has a worse debt/assets ratio than last year.
SHIP Yearly Shares OutstandingSHIP Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 5M 10M 15M
SHIP Yearly Total Debt VS Total AssetsSHIP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M

2.2 Solvency

SHIP has a debt to FCF ratio of 6.95. This is a slightly negative value and a sign of low solvency as SHIP would need 6.95 years to pay back of all of its debts.
With a Debt to FCF ratio value of 6.95, SHIP perfoms like the industry average, outperforming 57.14% of the companies in the same industry.
A Debt/Equity ratio of 0.91 indicates that SHIP is somewhat dependend on debt financing.
The Debt to Equity ratio of SHIP (0.91) is worse than 75.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.91
Debt/FCF 6.95
Altman-Z N/A
ROIC/WACCN/A
WACC8.01%
SHIP Yearly LT Debt VS Equity VS FCFSHIP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M -100M 200M -200M

2.3 Liquidity

SHIP has a Current Ratio of 0.36. This is a bad value and indicates that SHIP is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.36, SHIP is not doing good in the industry: 92.86% of the companies in the same industry are doing better.
A Quick Ratio of 0.34 indicates that SHIP may have some problems paying its short term obligations.
SHIP has a worse Quick ratio (0.34) than 96.43% of its industry peers.
Industry RankSector Rank
Current Ratio 0.36
Quick Ratio 0.34
SHIP Yearly Current Assets VS Current LiabilitesSHIP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M

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6

3. Growth

3.1 Past

SHIP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 620.00%, which is quite impressive.
SHIP shows a strong growth in Revenue. In the last year, the Revenue has grown by 104.86%.
Measured over the past years, SHIP shows a small growth in Revenue. The Revenue has been growing by 3.80% on average per year.
EPS 1Y (TTM)620%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%317.86%
Revenue 1Y (TTM)104.86%
Revenue growth 3Y20.31%
Revenue growth 5Y3.8%
Sales Q2Q%81.4%

3.2 Future

Based on estimates for the next years, SHIP will show a very strong growth in Earnings Per Share. The EPS will grow by 135.82% on average per year.
Based on estimates for the next years, SHIP will show a quite strong growth in Revenue. The Revenue will grow by 14.02% on average per year.
EPS Next Y2843.43%
EPS Next 2Y69.64%
EPS Next 3Y135.82%
EPS Next 5YN/A
Revenue Next Year58.98%
Revenue Next 2Y15.63%
Revenue Next 3Y14.02%
Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
SHIP Yearly Revenue VS EstimatesSHIP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 50M 100M 150M
SHIP Yearly EPS VS EstimatesSHIP Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 -200 -400 -600 -800 -1K

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6

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 3.00, which indicates a rather cheap valuation of SHIP.
Based on the Price/Earnings ratio, SHIP is valued a bit cheaper than the industry average as 71.43% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of SHIP to the average of the S&P500 Index (29.63), we can say SHIP is valued rather cheaply.
A Price/Forward Earnings ratio of 34.80 indicates a quite expensive valuation of SHIP.
Based on the Price/Forward Earnings ratio, SHIP is valued a bit more expensive than 64.29% of the companies in the same industry.
SHIP is valuated expensively when we compare the Price/Forward Earnings ratio to 22.68, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 3
Fwd PE 34.8
SHIP Price Earnings VS Forward Price EarningsSHIP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, SHIP is valued a bit cheaper than 67.86% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of SHIP indicates a somewhat cheap valuation: SHIP is cheaper than 64.29% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 4.19
EV/EBITDA 3.21
SHIP Per share dataSHIP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
SHIP's earnings are expected to grow with 135.82% in the coming years. This may justify a more expensive valuation.
PEG (NY)0
PEG (5Y)N/A
EPS Next 2Y69.64%
EPS Next 3Y135.82%

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5

5. Dividend

5.1 Amount

SHIP has a Yearly Dividend Yield of 14.17%, which is a nice return.
Compared to an average industry Dividend Yield of 13.73, SHIP pays a better dividend. On top of this SHIP pays more dividend than 92.86% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.27, SHIP pays a better dividend.
Industry RankSector Rank
Dividend Yield 14.17%

5.2 History

SHIP has been paying a dividend for less than 5 years, so it still needs to build a track record.
Dividend Growth(5Y)N/A
Div Incr Years1
Div Non Decr Years1
SHIP Yearly Dividends per shareSHIP Yearly Dividends per shareYearly Dividends per share 2022 2023 2024 0.2 0.4 0.6 0.8 1

5.3 Sustainability

SHIP pays out 10.90% of its income as dividend. This is a sustainable payout ratio.
DP10.9%
EPS Next 2Y69.64%
EPS Next 3Y135.82%
SHIP Yearly Income VS Free CF VS DividendSHIP Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -50M -100M -150M -200M
SHIP Dividend Payout.SHIP Dividend Payout, showing the Payout Ratio.SHIP Dividend Payout.PayoutRetained Earnings

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SEANERGY MARITIME HOLDINGS

NASDAQ:SHIP (2/21/2025, 8:00:02 PM)

After market: 7.36 +0.35 (+4.99%)

7.01

-0.33 (-4.5%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)11-05 2024-11-05/bmo
Earnings (Next)03-13 2025-03-13/amc
Inst Owners21.85%
Inst Owner ChangeN/A
Ins Owners9.42%
Ins Owner ChangeN/A
Market Cap143.63M
Analysts84
Price Target11.48 (63.77%)
Short Float %2.96%
Short Ratio1.72
Dividend
Industry RankSector Rank
Dividend Yield 14.17%
Yearly Dividend0.32
Dividend Growth(5Y)N/A
DP10.9%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-3.1%
Min EPS beat(2)-19.83%
Max EPS beat(2)13.64%
EPS beat(4)3
Avg EPS beat(4)48.04%
Min EPS beat(4)-19.83%
Max EPS beat(4)107.39%
EPS beat(8)7
Avg EPS beat(8)62.1%
EPS beat(12)11
Avg EPS beat(12)107.44%
EPS beat(16)13
Avg EPS beat(16)79.88%
Revenue beat(2)1
Avg Revenue beat(2)-1.07%
Min Revenue beat(2)-5.14%
Max Revenue beat(2)2.99%
Revenue beat(4)3
Avg Revenue beat(4)3.72%
Min Revenue beat(4)-5.14%
Max Revenue beat(4)8.99%
Revenue beat(8)6
Avg Revenue beat(8)3.39%
Revenue beat(12)9
Avg Revenue beat(12)4.03%
Revenue beat(16)9
Avg Revenue beat(16)2.31%
PT rev (1m)-22.41%
PT rev (3m)-22.41%
EPS NQ rev (1m)-32.28%
EPS NQ rev (3m)-32.28%
EPS NY rev (1m)-7.76%
EPS NY rev (3m)-19.59%
Revenue NQ rev (1m)-0.5%
Revenue NQ rev (3m)-0.5%
Revenue NY rev (1m)-0.12%
Revenue NY rev (3m)-4.97%
Valuation
Industry RankSector Rank
PE 3
Fwd PE 34.8
P/S 0.71
P/FCF 4.19
P/OCF 1.9
P/B 0.55
P/tB 0.55
EV/EBITDA 3.21
EPS(TTM)2.34
EY33.38%
EPS(NY)0.2
Fwd EY2.87%
FCF(TTM)1.67
FCFY23.84%
OCF(TTM)3.69
OCFY52.71%
SpS9.93
BVpS12.81
TBVpS12.81
PEG (NY)0
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 10.59%
ROE 21.27%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM 40.03%
PM (TTM) 27.45%
GM 70.66%
FCFM 16.83%
ROA(3y)4.08%
ROA(5y)0.37%
ROE(3y)8.49%
ROE(5y)-6.57%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)8.94%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5Y-0.77%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y18.63%
GM growth 5Y12.05%
F-Score8
Asset Turnover0.39
Health
Industry RankSector Rank
Debt/Equity 0.91
Debt/FCF 6.95
Debt/EBITDA 2.24
Cap/Depr 168.02%
Cap/Sales 20.37%
Interest Coverage 4.14
Cash Conversion 71.33%
Profit Quality 61.31%
Current Ratio 0.36
Quick Ratio 0.34
Altman-Z N/A
F-Score8
WACC8.01%
ROIC/WACCN/A
Cap/Depr(3y)484.45%
Cap/Depr(5y)344.94%
Cap/Sales(3y)61.9%
Cap/Sales(5y)46.39%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)620%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%317.86%
EPS Next Y2843.43%
EPS Next 2Y69.64%
EPS Next 3Y135.82%
EPS Next 5YN/A
Revenue 1Y (TTM)104.86%
Revenue growth 3Y20.31%
Revenue growth 5Y3.8%
Sales Q2Q%81.4%
Revenue Next Year58.98%
Revenue Next 2Y15.63%
Revenue Next 3Y14.02%
Revenue Next 5YN/A
EBIT growth 1Y2281.78%
EBIT growth 3YN/A
EBIT growth 5Y2.99%
EBIT Next Year601.21%
EBIT Next 3Y70.5%
EBIT Next 5YN/A
FCF growth 1Y192.98%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-16%
OCF growth 3YN/A
OCF growth 5Y40.51%