Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data OceanPal 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
FY2019
FY2020
FY2022
FY2023
FY2024
Revenue
19.1
19
25.7
General and administrative
3.08
5.28
6.21
Operating income
-0.33
-7.72
-18
Interest expense
0
0.91
0.11
Interest income
0
0.5
0.31
Other non-operating income
0
5.75
0.18
Net income
-1.86
-3.8
-0.33
-1.98
-17.9
EBITDA
4.57
-0.05
-10.8
EPS, basic
-17.18
-2.02
-2.64
EPS, diluted
-17.18
-3.83
-2.64
Shares, basic (weighted)
0.16
3.32
7.47
Shares, diluted (weighted)
0.16
3.37
7.47
Dividend per share
10.00
Balance sheet
FY2019
FY2020
FY2022
FY2023
FY2024
Cash and equivalents
0
0.04
8.45
14.8
7.16
Receivables
4.25
2.96
0.04
Inventory
0.33
0.29
1.6
Other current assets
1.13
0.9
2.2
Total current assets
14.2
20
14.1
Property, plant and equipment
63.7
71.1
71.3
Total assets
79
94.8
89.5
Accounts payable
0.28
0.41
1.85
Accrued liabilities
1.15
0.9
2.42
Deferred revenue
0.37
0.4
0.18
Total current liabilities
2.46
2.29
5.09
Total liabilities
2.46
2.29
5.09
Paid-in capital
78.9
101
110
Retained earnings
-2.32
-8.02
-25.9
Shareholders' equity
76.6
92.6
84.4
Total equity
76.6
92.6
84.4
Total liabilities and equity
79
94.8
89.5
Shares outstanding
0.51
7.45
7.5
Cash flow statement
FY2019
FY2020
FY2022
FY2023
FY2024
Net income
-1.86
-3.8
-0.33
-1.98
-17.9
Depreciation and amortization
2.48
2.15
4.9
7.67
7.2
Change in receivables
-0.3
-0.73
-3.44
1.29
-0.1
Change in inventory
0.39
-0.01
-0.15
0.05
-1.31
Cash from operations
1.44
-2.72
1.51
0.82
-3.53
Capital expenditures
0
-1.47
-5.09
-4.37
-18.9
Cash from investing
0
-1.47
-5.09
-6.01
-2.52
Stock issued
16.2
15.1
0
Dividends paid
-3.1
Cash from financing
-1.5
4.24
10.4
11.6
-1.64
Net change in cash
-0.06
0.04
6.78
6.39
-7.68
Free cash flow
1.44
-4.2
-3.58
-3.55
-22.4
Key metrics
Worked out from the statements above. Latest values use fiscal 2024. Valuation uses the share price of $47.26 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-70.2%
Operating income / revenue.
EBITDA margin
-42.2%
EBITDA (operating income + depreciation and amortization) / revenue.
Net margin
-69.5%
Net income / revenue.
FCF margin
-87.3%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-13.7%
Cash from operations / revenue.
Return on equity (ROE)
-20.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-19.4%
Net income / average total assets.
Return on invested capital (ROIC)
-18.4%
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%.
Capex / revenue
73.6%
Capital expenditures / revenue.
D&A / revenue
28.0%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
35.6%
Revenue vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-533.1%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-8.8%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-5.7%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
121.4%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
2.77x
Current assets / current liabilities.
Quick ratio
1.41x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.41x
(Cash + short-term investments) / current liabilities.
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
-$2.64
Net income per basic share, as reported (split-adjusted).
Revenue per share
$3.44
Revenue / diluted weighted shares.
FCF per share
-$3.01
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.47
Cash from operations / diluted weighted shares.
Book value per share
$11.24
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
3.15x
Market cap / revenue.
P/B
0.96x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.96x
Market cap / tangible book value, when positive.
EV/Sales
2.87x
Enterprise value / revenue.
FCF yield
-27.7%
Free cash flow / market cap.
Earnings yield
-22.0%
Net income / market cap (the inverse of P/E).
What was OceanPal Inc.'s revenue in fiscal 2024?
OceanPal Inc. reported revenue of $25.7M for fiscal 2024, 35.6% higher than the year before.
Was OceanPal Inc. profitable in fiscal 2024?
No. It reported a net loss of $17.9M.
How much free cash flow did OceanPal Inc. generate in fiscal 2024?
Cash from operations of $3.5M minus capital expenditures of $18.9M left free cash flow of -$22.4M.
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.