Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Himalaya Shipping Ltd. 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
FY2023
FY2023
FY2024
FY2025
Revenue
0
36.7
124
132
Cost of revenue
0
8.6
23.8
28
Gross profit
0
28.1
99.8
104
General and administrative
1.97
3.8
5
4.9
Operating income
-1.97
14.6
66.7
68.2
Interest expense
0
13.6
46.6
51.4
Interest income
0.04
0.83
1.07
Other non-operating income
0.02
-13.1
-45.6
-50.5
Income tax
0
0
0
0
Net income
-1.95
1.5
21.1
17.7
EBITDA
-1.97
23.7
93.2
97.4
EPS, basic
-0.06
0.04
0.48
0.38
EPS, diluted
-0.06
0.04
0.48
0.38
Shares, basic (weighted)
32.2
38.6
43.9
46
Shares, diluted (weighted)
32.2
38.6
43.9
46
Dividend per share
0.48
0.57
Balance sheet
FY2023
FY2023
FY2024
FY2025
Cash and equivalents
0.26
25.6
19.4
32.4
Receivables
0
0.81
1.2
0.7
Inventory
0
0.63
1.5
1.7
Other current assets
0
2.4
1.1
1.3
Total current assets
1.67
32.8
26.8
39.7
Property, plant and equipment
853
824
Other non-current assets
0
5.14
0
Total assets
178
599
880
864
Accounts payable
14.9
1.69
0.8
1.3
Accrued liabilities
1.2
2.53
7.2
6.4
Short-term debt
7
19.8
24.3
23.6
Total current liabilities
26.1
25.3
35.8
36.6
Long-term debt
60.4
420
690
666
Other non-current liabilities
1
0
Total liabilities
87.5
445
725
702
Total debt
67.4
439
714
689
Paid-in capital
61.2
112
14.4
27.4
Retained earnings
-3
-1.48
19.6
37.3
Shareholders' equity
90.4
154
155
162
Total equity
90.4
154
155
162
Total liabilities and equity
178
599
880
864
Shares outstanding
32.2
43.9
43.9
46.7
Cash flow statement
FY2023
FY2023
FY2024
FY2025
Net income
-1.95
1.5
21.1
17.7
Depreciation and amortization
0
9.1
26.5
29.2
Stock-based compensation
0.4
0.5
0.5
0.2
Change in receivables
0
-0.8
-0.5
0.5
Change in payables
0.44
0.5
-0.9
0.5
Cash from operations
-1.45
6.4
55.9
51.7
Cash from investing
-78.2
-413
-313
0
Debt issued
69.8
391
296
0
Stock issued
-0.51
62.2
0
15.5
Dividends paid
0
0
-20.6
-26.9
Cash from financing
68.6
432
251
-38.7
Net change in cash
-11
25.2
-6.1
13
Interest paid
0
13
40.3
49.5
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $17.54 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
78.8%
Gross profit / revenue.
Operating margin
51.7%
Operating income / revenue.
EBITDA margin
73.8%
EBITDA (operating income + depreciation and amortization) / revenue.
Net margin
13.4%
Net income / revenue.
Operating cash flow margin
39.2%
Cash from operations / revenue.
Return on equity (ROE)
11.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
2.0%
Net income / average total assets.
Return on invested capital (ROIC)
6.5%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue
0.2%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
22.1%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
6.7%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
4.1%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
2.2%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
4.5%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-16.1%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-20.8%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-7.5%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Dividend per share growth, 1y
18.8%
Dividend per share vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
4.5%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
21.4%
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
-1.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
69.4%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
4.8%
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
12.7%
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
1.08x
Current assets / current liabilities.
Quick ratio
0.90x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.89x
(Cash + short-term investments) / current liabilities.
Debt / equity
4.26x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
79.8%
Total debt / total assets.
Liabilities / assets
81.3%
Total liabilities / total assets.
Net debt
$656.8M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
6.74x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.38
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
$0.38
Net income per basic share, as reported (split-adjusted).
Revenue per share
$2.87
Revenue / diluted weighted shares.
Operating cash flow per share
$1.12
Cash from operations / diluted weighted shares.
Book value per share
$3.47
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Dividend declared per common share (paid, when declared is not tagged).
Payout ratio
152.0%
Dividends paid / net income, when net income is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$820.0M
Share price x shares outstanding.
Enterprise value
$1.48B
Market cap + total debt - cash - short-term investments.
P/E
46.3x
Market cap / net income. Only when net income is positive.
P/S
6.22x
Market cap / revenue.
P/B
5.07x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
5.07x
Market cap / tangible book value, when positive.
P/OCF
15.9x
Market cap / cash from operations, when positive.
EV/Sales
11.2x
Enterprise value / revenue.
EV/EBIT
21.7x
Enterprise value / operating income, when both are positive.
EV/EBITDA
15.2x
Enterprise value / EBITDA, when both are positive.
Earnings yield
2.2%
Net income / market cap (the inverse of P/E).
Dividend yield
3.3%
Dividends paid over the period / market cap.
Shareholder yield
3.3%
(Dividends paid + share buybacks) / market cap.
What was Himalaya Shipping Ltd.'s revenue in fiscal 2025?
Himalaya Shipping Ltd. reported revenue of $131.9M for fiscal 2025, 6.7% higher than the year before.
Was Himalaya Shipping Ltd. profitable in fiscal 2025?
Yes. Net income was $17.7M, a net margin of 13.4%.
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.