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SEANERGY MARITIME HOLDINGS (SHIP) Stock Fundamental Analysis

NASDAQ:SHIP - Nasdaq - MHY737604006 - Common Stock

7.11  +0.04 (+0.57%)

After market: 7.09 -0.02 (-0.28%)

Fundamental Rating

5

Overall SHIP gets a fundamental rating of 5 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 may be a bit undervalued, certainly considering the very reasonable score on growth


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

SHIP had positive earnings in the past year.
In the past year SHIP had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: SHIP reported negative net income in multiple 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

SHIP has a better Return On Assets (10.59%) than 71.43% of its industry peers.
SHIP has a Return On Equity of 21.27%. This is amongst the best in the industry. SHIP outperforms 82.14% of its industry peers.
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

With a decent Profit Margin value of 27.45%, SHIP is doing good in the industry, outperforming 67.86% of the companies in the same industry.
SHIP's Operating Margin of 40.03% is fine compared to the rest of the industry. SHIP outperforms 71.43% of its industry peers.
SHIP's Operating Margin has been stable in the last couple of years.
With an excellent Gross Margin value of 70.66%, SHIP belongs to the best of the industry, outperforming 82.14% of the companies in the same industry.
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.
The number of shares outstanding for SHIP has been increased compared to 1 year ago.
Compared to 5 years ago, SHIP has more shares outstanding
The debt/assets ratio for SHIP is higher compared to a year ago.
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.
Looking at the Debt to FCF ratio, with a value of 6.95, SHIP is in line with its industry, outperforming 57.14% of the companies in the same industry.
SHIP has a Debt/Equity ratio of 0.91. This is a neutral value indicating SHIP is somewhat dependend on debt financing.
SHIP has a worse Debt to Equity ratio (0.91) 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
WACC7.67%
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

A Current Ratio of 0.36 indicates that SHIP may have some problems paying its short term obligations.
The Current ratio of SHIP (0.36) is worse than 92.86% of its industry peers.
A Quick Ratio of 0.34 indicates that SHIP may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.34, SHIP is doing worse than 96.43% of the companies in the same industry.
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%.
The Revenue has been growing slightly by 3.80% on average over the past years.
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

The Earnings Per Share is expected to grow by 171.27% on average over the next years. This is a very strong growth
Based on estimates for the next years, SHIP will show a quite strong growth in Revenue. The Revenue will grow by 11.04% on average per year.
EPS Next Y3091.14%
EPS Next 2Y450.53%
EPS Next 3Y171.27%
EPS Next 5YN/A
Revenue Next Year59.18%
Revenue Next 2Y26.84%
Revenue Next 3Y11.04%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
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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8

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 3.04 indicates a rather cheap valuation of SHIP.
Compared to the rest of the industry, the Price/Earnings ratio of SHIP indicates a somewhat cheap valuation: SHIP is cheaper than 67.86% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of SHIP to the average of the S&P500 Index (28.29), we can say SHIP is valued rather cheaply.
With a Price/Forward Earnings ratio of 3.35, the valuation of SHIP can be described as very cheap.
Based on the Price/Forward Earnings ratio, SHIP is valued cheaply inside the industry as 82.14% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of SHIP to the average of the S&P500 Index (24.44), we can say SHIP is valued rather cheaply.
Industry RankSector Rank
PE 3.04
Fwd PE 3.35
SHIP Price Earnings VS Forward Price EarningsSHIP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, SHIP is valued a bit cheaper than the industry average as 67.86% of the companies are valued more expensively.
60.71% of the companies in the same industry are more expensive than SHIP, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 4.25
EV/EBITDA 3.23
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 171.27% in the coming years. This may justify a more expensive valuation.
PEG (NY)0
PEG (5Y)N/A
EPS Next 2Y450.53%
EPS Next 3Y171.27%

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5

5. Dividend

5.1 Amount

SHIP has a Yearly Dividend Yield of 14.67%, which is a nice return.
The stock price of SHIP dropped by -27.08% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
Compared to an average industry Dividend Yield of 9.88, SHIP pays a better dividend. On top of this SHIP pays more dividend than 89.29% of the companies listed in the same industry.
SHIP's Dividend Yield is rather good when compared to the S&P500 average which is at 2.28.
Industry RankSector Rank
Dividend Yield 14.67%

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

10.90% of the earnings are spent on dividend by SHIP. This is a low number and sustainable payout ratio.
DP10.9%
EPS Next 2Y450.53%
EPS Next 3Y171.27%
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 (1/21/2025, 8:26:32 PM)

After market: 7.09 -0.02 (-0.28%)

7.11

+0.04 (+0.57%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)11-05 2024-11-05/bmo
Earnings (Next)N/A N/A
Inst Owners21.77%
Inst Owner ChangeN/A
Ins Owners9.37%
Ins Owner ChangeN/A
Market Cap145.68M
Analysts84
Price Target14.79 (108.02%)
Short Float %2.53%
Short Ratio1.26
Dividend
Industry RankSector Rank
Dividend Yield 14.67%
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)0%
PT rev (3m)1.75%
EPS NQ rev (1m)0%
EPS NQ rev (3m)20.92%
EPS NY rev (1m)0%
EPS NY rev (3m)-25.76%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)6.8%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.87%
Valuation
Industry RankSector Rank
PE 3.04
Fwd PE 3.35
P/S 0.72
P/FCF 4.25
P/OCF 1.92
P/B 0.55
P/tB 0.55
EV/EBITDA 3.23
EPS(TTM)2.34
EY32.91%
EPS(NY)2.12
Fwd EY29.84%
FCF(TTM)1.67
FCFY23.51%
OCF(TTM)3.69
OCFY51.97%
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
WACC7.67%
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 Y3091.14%
EPS Next 2Y450.53%
EPS Next 3Y171.27%
EPS Next 5YN/A
Revenue 1Y (TTM)104.86%
Revenue growth 3Y20.31%
Revenue growth 5Y3.8%
Sales Q2Q%81.4%
Revenue Next Year59.18%
Revenue Next 2Y26.84%
Revenue Next 3Y11.04%
Revenue Next 5YN/A
EBIT growth 1Y2281.78%
EBIT growth 3YN/A
EBIT growth 5Y2.99%
EBIT Next Year611.84%
EBIT Next 3Y73.06%
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%