Pyxis Tankers Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Pyxis Tankers Inc. 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	30.4	29.6	28.5	27.8	21.7	25.3	58.3	45.5	51.5	39
General and administrative	2.57	3.19	2.4	2.41	2.38	2.54	2.51	3.45	3	6.1
Operating expenses						33.9	-17.3	-41.9	-16.7
Operating income	-3	-2.35	-8.01	-2.53	-1.94	-8.51	17.3	41.9	16.7	5.92
Interest expense	2.81	2.9	4.49	5.78	4.96	3.29	4.44	5.84	6.53	5.78
Interest income								1.24	2.31	1.79
Other non-operating income	-2.81	-2.9	-0.2	-5.8	-4.97	-3.83	-3.92	-5.03	-4.22	-3.98
Net income to minority interests								-0.2	-0.36	-0.06
Net income	-5.81	-5.24	-8.21	-8.33	-6.9	-12.3	13.4	37	12.9	1.99
EBITDA	2.77	3.22	-2.51	2.79	2.48	-3.61	23.4	47.4	23.6	13.5
EPS, basic	-1.30	-1.14	-1.58	-1.58	-1.30	-1.43	1.18	3.38	0.91	0.19
EPS, diluted	-1.30	-1.14	-1.58	-1.58	-1.30	-1.43	1.06	2.94	0.91	0.19
Shares, basic (weighted)	4.5	4.54	5.14	5.21	5.39	8.99	10.6	10.7	10.5	10.4
Shares, diluted (weighted)	4.5	4.54	5.14	5.21	5.39	8.99	12.6	12.6	10.5	10.4

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0.78	1.69	0.55	1.44	1.62	6.18	7.56	34.5	21.2	35.6
Short-term investments								20	17	18
Receivables	1.68	0.7	2.59		0.66	1.72	10.5	4.96	5.04	2.01
Inventory	1.17	1.02	0.81	0.5	0.68	1.57	1.91	0.96	1.89	0.54
Other current assets	0.4	0.34	0.12	0.33	0.13	0.19	0.2	0.23	0.71	0.55
Total current assets	4.18	3.9	4.31	17.2	5.41	19.1	21.1	60.9	46.1	56.7
Property, plant and equipment	121	116	108	87.5	83.8	120	114	102	140	133
Other non-current assets	5.22	5.14	4.32	4.03	4.01	3.74	3.66	3.5	2.56	3.44
Total assets	131	125	117	109	93.2	143	139	166	189	193
Accounts payable	3.12	2.29	4.75	4.54	3.64	3.08	2.6	1.7	2.11	1.5
Deferred revenue			0.42	1.42	0.73		2.13	1.17	0.11	0.6
Short-term debt	6.81	7.3	4.33	8.98	3.26	11.7	5.83	5.58	7.56	7.97
Total current liabilities	12.9	12.5	13.5	22.5	8.3	22.8	12.6	10.1	12.3	12.7
Long-term debt	66.6	59.1	58.1	49.2	50.3	64.9	59	55.4	77	79.3
Total liabilities	82	76.7	76.7	76.8	63.6	93.7	77.6	65.5	89.2	92
Total debt	73.8	66.9	63.4	58.9	53.6	77.8	65.8	61.5	85.2	87.9
Paid-in capital	70.1	74.8	74.8	75.2	79.7	112	112	111	98	97.8
Retained earnings	-21.4	-26.6	-34.8	-43.2	-50.2	-63	-50.5	-14.3	-4.67	-2.68
Shareholders' equity	48.8	48.2	39.9	32	29.6	48.9	61.4	96.5	93.4	95.2
Minority interests								4.32	6.29	6.23
Total equity	48.8	48.2	39.9	32	29.6	48.9	61.4	101	99.7	101
Total liabilities and equity	131	125	117	109	93.2	143	139	166	189	193
Shares outstanding	4.5	5.14	5.18	5.26	22	10.6	10.6	10.5	10.6	10.4

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-5.81	-5.24	-8.21	-8.33	-6.9	-12.3	13.4	36.8	12.5	1.94
Depreciation and amortization	5.77	5.57	5.5	5.32	4.42	4.9	6.1	5.5	6.9	7.57
Stock-based compensation		0.36						0.17	0.06	0.26
Change in receivables	-1.23	0.75	-1.9	1.32	0.57	-1.06	-8.87	5.58	-0.04	3.05
Change in inventory	-0.59	0.16	0.21	0.31	-0.18	-0.89	-0.34	0.95	-0.93	1.35
Change in payables	2.01	-0.86	2.5	-0.27	-0.94	-0.62	-0.23	-1.09	0.54	-0.63
Cash from operations	4.45	3.68	-2.2	5.66	-13	-0.9	8.27	21.4	18.8	13.6
Capital expenditures				-0.57	-0.49	-43	-3	-28.5	-45
Cash from investing			-0.1	-0.52	12.6	-43.2	4.95	12.2	-42.2	-1.36
Debt issued			44.5		15.3	59.5		34.5	31	33.4
Debt repaid	-7.26	-6.96	-43.6	-4.5	-19.9	-36	-12	-38.8	-7.31	-30.7
Stock issued		4.8	0.32	0.35		25
Share buybacks								-1.24	-1.49	-0.47
Dividends paid					-0.07
Cash from financing	-7.29	-2.77	-0.19	-4.17	-0.74	49.9	-12.9	-7.5	9.57	2.06
Net change in cash	-2.84	0.91	-2.49	0.97	-1.14	5.84	0.32	26.2	-13.7	14.3
Free cash flow				5.09	-13.5	-43.9	5.28	-7.06	-26.1
Interest paid	2.78	2.55	4.28	5.16	4.43	2.93	3.91	5.63	5.91	6.16

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $6.53 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	15.2%	Operating income / revenue.
EBITDA margin	34.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	5.1%	Net income / revenue.
Operating cash flow margin	34.9%	Cash from operations / revenue.
Return on equity (ROE)	2.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.0%	Net income / average total assets.
Return on invested capital (ROIC)	3.1%	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	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	19.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-24.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-12.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	12.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-64.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-30.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	-42.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-16.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	40.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-84.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-47.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-79.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-43.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-27.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	18.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	1.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	15.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	26.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	2.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	11.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	15.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.0%	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	-6.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	14.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	4.45x	Current assets / current liabilities.
Quick ratio	4.36x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	4.20x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.92x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	45.4%	Total debt / total assets.
Liabilities / assets	47.6%	Total liabilities / total assets.
Net debt	$34.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.54x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.02x	Operating income / interest expense.
Working capital	$43.9M	Current assets - current liabilities.
Tangible book value	$95.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.20x	Revenue / average total assets.
Fixed asset turnover	0.29x	Revenue / average property, plant and equipment.
Receivables turnover	11.1x	Revenue / average receivables.
Days sales outstanding	33 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.19	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	$0.19	Net income per basic share, as reported (split-adjusted).
Revenue per share	$3.74	Revenue / diluted weighted shares.
Operating cash flow per share	$1.31	Cash from operations / diluted weighted shares.
Book value per share	$9.13	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$9.13	Tangible book value / shares outstanding.
Cash per share	$5.14	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$67.1M	Share price x shares outstanding.
Enterprise value	$101.4M	Market cap + total debt - cash - short-term investments.
P/E	33.6x	Market cap / net income. Only when net income is positive.
P/S	1.72x	Market cap / revenue.
P/B	0.71x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.71x	Market cap / tangible book value, when positive.
P/OCF	4.93x	Market cap / cash from operations, when positive.
EV/Sales	2.60x	Enterprise value / revenue.
EV/EBIT	17.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	7.52x	Enterprise value / EBITDA, when both are positive.
Earnings yield	3.0%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.7%	(Dividends paid + share buybacks) / market cap.

What was Pyxis Tankers Inc.'s revenue in fiscal 2025?

Pyxis Tankers Inc. reported revenue of $39.0M for fiscal 2025, 24.3% lower than the year before.

Was Pyxis Tankers Inc. profitable in fiscal 2025?

Yes. Net income was $2.0M, a net margin of 5.1%.

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.

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