Heidmar Maritime Holdings Corp. financial statements

Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Heidmar Maritime Holdings Corp. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2022	FY2024	FY2024	FY2025
Revenue	30.1	49.1	28.9	55.9
General and administrative	5.06	10.1	12.9	19.3
Operating expenses	13.1	29.5	24.9	60.7
Operating income	16.9	19.6	4.09	-4.88
Income tax	0	0	0	0
Income from continuing operations		19.6	1.91	-8.64
Net income	16.2	19.6	1.91	-22.6
EBITDA	16.9	19.7	4.13	-4.83
EPS, basic	0.28	0.34	0.03	-0.39
EPS, diluted	0.28	0.34	0.03	-0.39
Shares, basic (weighted)	57.5	57.1	57.1	58.3
Shares, diluted (weighted)	57.5	57.1	57.1	58.3
Dividend per share	0.00	260,417.00	0.00	80,000.00

Balance sheet

	FY2022	FY2024	FY2024	FY2025
Cash and equivalents	25.2	18.9	20	18.6
Receivables				1.24
Inventory		1.2	0.61	0
Other current assets		1.46	0.37	1.16
Total current assets		33	30.3	27.4
Property, plant and equipment	0.03	0.09	0.32	0.27
Lease right-of-use assets		14	5.05	0.6
Goodwill			0.34	0.34
Intangible assets			0.42	0.39
Other non-current assets		0.03	0.03	0.03
Total assets		47.3	38.1	72.1
Accounts payable		0.66	0.86	1.93
Accrued liabilities		1.08	0.87	2.23
Deferred revenue		1.81	1.12	0.04
Total current liabilities		25.1	19.6	29.2
Lease liabilities		4.75	0.18	0.16
Total liabilities		30.9	19.9	61.4
Paid-in capital		4.23	4.23	27.3
Retained earnings		10.7	12.6	-17.9
Other comprehensive income		1.45	1.34	1.26
Shareholders' equity	21.8	16.4	18.2	10.7
Total equity	21.8	16.4	18.2	10.7
Total liabilities and equity		47.3	38.1	72.1
Shares outstanding			0	58.4

Cash flow statement

	FY2022	FY2024	FY2024	FY2025
Net income	16.2	19.6	1.91	-22.6
Depreciation and amortization	0.02	0.01	0.04	0.05
Stock-based compensation				4.96
Change in receivables				-1.24
Change in inventory		-1.2	0.5	0.61
Change in payables	0.79	0.68	-0.01	2.5
Cash from operations	14.7	12	6.76	13.2
Capital expenditures		-0.01	-0.27	-0
Acquisitions			-0.4
Cash from investing	0.02	-0.01	-4.03	-5.34
Stock issued				0.28
Dividends paid		-25		-8
Cash from financing	2.97	-18.4	-1.53	-9.17
Exchange rate effect	-0.29	0.07	-0.11
Net change in cash	17.4	-6.28	1.1	-1.38
Free cash flow		12	6.49	13.2
Interest paid	0.46	1.42	1.72	0.35

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.77 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-8.7%	Operating income / revenue.
EBITDA margin	-8.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	-40.4%	Net income / revenue.
FCF margin	23.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	23.6%	Cash from operations / revenue.
Return on equity (ROE)	-156.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-40.9%	Net income / average total assets.
Stock-based pay / revenue	8.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.0%	Capital expenditures / revenue.
D&A / revenue	0.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	92.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	22.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	-219.2%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-216.9%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-1,279.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-1,400.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	95.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-3.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	103.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-41.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-21.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	89.2%	Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y	2.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.94x	Current assets / current liabilities.
Quick ratio	0.68x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.64x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	85.2%	Total liabilities / total assets.
Working capital	-$1.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	1.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$10.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.01x	Revenue / average total assets.
Fixed asset turnover	191x	Revenue / average property, plant and equipment.
Receivables turnover	45.1x	Revenue / average receivables.
Days sales outstanding	8 days	365 x average receivables / revenue.
Capex / operating cash flow	0.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.39	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	-$0.39	Net income per basic share, as reported (split-adjusted).
Revenue per share	$0.96	Revenue / diluted weighted shares.
FCF per share	$0.23	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.23	Cash from operations / diluted weighted shares.
Book value per share	$0.18	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$0.17	Tangible book value / shares outstanding.
Cash per share	$0.32	(Cash + short-term investments) / shares outstanding.
Dividend per share	$80,000.00	Dividend declared per common share (paid, when declared is not tagged).
Dividends / FCF	60.6%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$104.4M	Share price x shares outstanding.
Enterprise value	$85.8M	Market cap + total debt - cash - short-term investments.
P/S	1.87x	Market cap / revenue.
P/B	9.75x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	10.5x	Market cap / tangible book value, when positive.
P/FCF	7.91x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	7.91x	Market cap / cash from operations, when positive.
EV/Sales	1.54x	Enterprise value / revenue.
EV/FCF	6.50x	Enterprise value / free cash flow, when both are positive.
FCF yield	12.6%	Free cash flow / market cap.
Earnings yield	-21.6%	Net income / market cap (the inverse of P/E).
Dividend yield	7.7%	Dividends paid over the period / market cap.
Shareholder yield	7.7%	(Dividends paid + share buybacks) / market cap.

What was Heidmar Maritime Holdings Corp.'s revenue in fiscal 2025?

Heidmar Maritime Holdings Corp. reported revenue of $55.9M for fiscal 2025, 92.9% higher than the year before.

Was Heidmar Maritime Holdings Corp. profitable in fiscal 2025?

No. It reported a net loss of $22.6M.

How much free cash flow did Heidmar Maritime Holdings Corp. generate in fiscal 2025?

Cash from operations of $13.2M minus capital expenditures of $930.0 left free cash flow of $13.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to Heidmar Maritime Holdings Corp.