Seanergy Maritime Holdings Corp. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Seanergy 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	36	77.7	94.9	89.5	65.7	153	125	110	167	158
Gross profit	34.7	74.8	91.5
General and administrative	4.13	5.08	6.5	5.99	6.61	13.7	17.4	22.1	24	20.5
Operating income	-14.7	2.8	4.28	12	-0.27	65.9	29.7	21.3	62.6	43.3
Interest expense	7.24	12.3	16.4	15.2	12.3	17.8	15.3	20.7	20.6	21.7
Other non-operating income	-9.88	-6.04	-25.3	-23.7	-18.1	-24.6	-12.5	-19.1	-19.1	-22.1
Pre-tax income	-24.6	-3.24	-21	-11.6	-18.4	41.3	17.2	2.28	43.5
Income tax	0.03	0	0.02	0.05	0	0	-0.03	0	0
Net income	-24.6	-3.24	-21.1	-11.7	-18.4	41.3	17.2	2.28	43.5	21.2
EBITDA	-6.18	13.3	15.2	23.1	12.5	83.1	53.1	46
EPS, basic	-2,870.00	-215.59	-1,341.00	-121.88	-5.49	2.70	0.97	0.12	2.12	1.02
EPS, diluted	-191.64	-215.59	-1,341.00	-121.88	-5.49	2.50	0.96	0.12	2.11	1.01
Shares, basic (weighted)	0.01	0.01	0.02	0.1	3.34	15.3	17.4	18.4	19.7	20.5
Shares, diluted (weighted)	0.13	0.01	0.02	0.1	3.34	19.1	17.7	18.4	19.9	20.5
Dividend per share							1.25	0.10	0.76	0.33

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	12.9	8.89	6.68	13.7	21	41.5	26	19.4	21.9	48.2
Receivables	2.78	3.63	2.65	1.76	0.8	0	0.72	0.9	0.4	0.87
Inventory	4.05	4.8	5.29	3.86	4.65	1.45	2	1.56	1.69	1.63
Other current assets	1.09	0.64	0.89	1.25	0.67	0.43	1.08	1.66	2.11	1.95
Total current assets	22.3	19.5	16.9	21.9	30.5	47.2	61.6	25.1	45.9	74.9
Property, plant and equipment	232	255	244	254	257	426	435	440	488	507
Lease right-of-use assets		0	0.62	0.43	0.85	0.65	0.5	0.41	0.28	0.21
Other non-current assets	0.01	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03
Total assets	258	276	268	283	295	487	514	478	546	607
Accounts payable	6.35	8.78	14.4	16.1	3.71	5.76	7.83	5.49	7.11	13.1
Accrued liabilities	2.53	4.73	4.63	6.88	2.99	5.17	8.37	7.74	9.63	12.2
Deferred revenue	1.85	1.74	0.89	4.3	4.51	7.74
Short-term debt	10.3	19.2	16.2			68.5	35.1	31.8	37.4	54.9
Total current liabilities	21.2	34.5	36.3	237	30.8	88	94.7	69.5	61.6	88.1
Long-term debt	198	176	179			147	197	179	220	235
Lease liabilities		0	0.5	0.32	0.71	0.53	0.39	0.3	0.19	0.12
Other non-current liabilities				0	0.45	0.13	0	0.35	1.61	1.8
Total liabilities	227	234	246	253	200	243	292	249	284	325
Total debt	209	195	195	183	170	215	232	211	258	290
Paid-in capital	369	383	386	406	490	598	584	590	596	601
Retained earnings	-338	-342	-365	-376	-395	-353	-362	-362	-334	-319
Shareholders' equity	30.8	41.3	21.3	29.9	95.7	244	222	228	262	281
Total equity	30.8	41.3	21.3	29.9	95.7	244	222	228	262	281
Total liabilities and equity	258	276	268	283	295	487	514	478	546	607
Shares outstanding	0.21	0.02	0.27	0.17	68.3	17.3	18.2	19.6	20.4	21.1

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-24.6	-3.24	-21.1	-11.7	-18.4	41.3	17.2	2.28	43.5	21.2
Depreciation and amortization	8.53	10.5	10.9	11	12.7	17.2	23.4	24.7
Stock-based compensation	0.62	0.73	1.3	1.31	0.87	5.1	7.19	9.15	4.99	4.07
Change in receivables	-1.5	-0.84	-0.51	0.85	0.96	0.8	-0.84	-0.18	0.49	-0.47
Change in inventory	-1.07	-0.75	-0.49	1.43	-0.79	3.2	-0.84	0.22	-0.14	0.03
Change in payables	0.37	2.35	5.5	1.68	-12.4	0.35	-0.59	-2.22	1.48	5.35
Cash from operations	-15.3	2.78	5.72	13.1	-9.74	80.8	37.3	31.3	75.3	52.6
Capital expenditures	-40.8	-33	-30.9	-12.3	-20.2	-197	-70.3	-0.31	-70.7	-35.6
Cash from investing	-40.8	-33	-8.83	-12.3	-21.9	-185	-56.3	17.7	-79.4	-23.3
Debt issued	32	34.5	67.1
Share buybacks				0	0	-1.71	0	-1.68	-4.85	0
Dividends paid					0	0	-17.9	-6.03	-10.8	-9.49
Cash from financing	68.7	25.3	-0.49	6.35	39.1	127	5.83	-56.6	14.1	-1.52
Net change in cash	12.6	-4.87	-3.6	7.11	7.5	23.6	-13.1	-7.55	9.99	27.7
Free cash flow	-56.1	-30.2	-25.2	0.76	-29.9	-116	-33	31	4.63	17
Interest paid	7.97	14.7	18.5	14.1	10.3	11.2	11.7	18.4	20.1	19.6

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $16.60 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	27.4%	Operating income / revenue.
Net margin	13.4%	Net income / revenue.
FCF margin	10.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	33.3%	Cash from operations / revenue.
Return on equity (ROE)	7.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.7%	Net income / average total assets.
Return on invested capital (ROIC)	6.7%	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	2.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	22.5%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-5.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	8.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	19.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-30.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	13.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-51.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	7.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-52.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	1.7%	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	-30.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	12.2%	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	267.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Dividend per share growth, 1y	-56.6%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-35.8%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	7.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.3%	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	24.1%	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	11.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.7%	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	15.5%	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	3.3%	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	5.1%	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	43.8%	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	0.85x	Current assets / current liabilities.
Quick ratio	0.56x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.55x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.03x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	47.8%	Total debt / total assets.
Liabilities / assets	53.6%	Total liabilities / total assets.
Net debt	$241.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	2.00x	Operating income / interest expense.
Working capital	-$13.2M	Current assets - current liabilities.
Tangible book value	$281.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.27x	Revenue / average total assets.
Fixed asset turnover	0.32x	Revenue / average property, plant and equipment.
Receivables turnover	248x	Revenue / average receivables.
Days sales outstanding	1 days	365 x average receivables / revenue.
FCF conversion	80.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	67.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.01	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	$1.02	Net income per basic share, as reported (split-adjusted).
Revenue per share	$7.70	Revenue / diluted weighted shares.
FCF per share	$0.83	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.56	Cash from operations / diluted weighted shares.
Book value per share	$13.33	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$13.33	Tangible book value / shares outstanding.
Cash per share	$2.28	(Cash + short-term investments) / shares outstanding.
Dividend per share	$0.33	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	44.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	55.7%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	0.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$359.7M	Share price x shares outstanding.
Enterprise value	$601.6M	Market cap + total debt - cash - short-term investments.
P/E	16.9x	Market cap / net income. Only when net income is positive.
P/S	2.28x	Market cap / revenue.
P/B	1.28x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.28x	Market cap / tangible book value, when positive.
P/FCF	21.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.84x	Market cap / cash from operations, when positive.
EV/Sales	3.81x	Enterprise value / revenue.
EV/EBIT	13.9x	Enterprise value / operating income, when both are positive.
EV/FCF	35.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.7%	Free cash flow / market cap.
Earnings yield	5.9%	Net income / market cap (the inverse of P/E).
Dividend yield	2.6%	Dividends paid over the period / market cap.
Shareholder yield	2.6%	(Dividends paid + share buybacks) / market cap.
PEG	9.92x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

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

Seanergy Maritime Holdings Corp. reported revenue of $158.1M for fiscal 2025, 5.6% lower than the year before.

Was Seanergy Maritime Holdings Corp. profitable in fiscal 2025?

Yes. Net income was $21.2M, a net margin of 13.4%.

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

Cash from operations of $52.6M minus capital expenditures of $35.6M left free cash flow of $17.0M.

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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