What is Ardmore Shipping Corp's earnings per share (EPS)?

Ardmore Shipping Corp (ASC) reported diluted earnings per share of $0.88 for fiscal year 2025. This represents a -71.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ardmore Shipping Corp Financials

ASC

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Ardmore Shipping Corp (ASC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 52/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Ardmore Shipping Corp's revenue declined 23.6% year-over-year, from $405.8M to $310.2M. This contraction results in a growth score of 0/100.

Leverage

Ardmore Shipping Corp carries a low D/E ratio of 0.20, meaning only $0.20 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.33, Ardmore Shipping Corp holds $4.33 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 86/100.

Returns

Ardmore Shipping Corp generates a 6.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 25/100. This is down from 21.9% the prior year.

Piotroski F-Score Neutral

4/9

Ardmore Shipping Corp passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.99x

For every $1 of reported earnings, Ardmore Shipping Corp generates $1.99 in operating cash flow ($81.6M OCF vs $41.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$310.2M

YoY-23.6%

5Y CAGR+7.1%

10Y CAGR+7.0%

Ardmore Shipping Corp generated $310.2M in revenue in fiscal year 2025. This represents a decrease of 23.6% from the prior year.

EBITDA

N/A

Net Income

$41.0M

YoY-69.2%

10Y CAGR+2.5%

Ardmore Shipping Corp reported $41.0M in net income in fiscal year 2025. This represents a decrease of 69.2% from the prior year.

EPS (Diluted)

$0.88

YoY-71.2%

Ardmore Shipping Corp earned $0.88 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 71.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$46.8M

YoY-0.3%

5Y CAGR-4.3%

10Y CAGR+1.7%

Ardmore Shipping Corp held $46.8M in cash against $127.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

41M

YoY+0.7%

5Y CAGR+4.2%

10Y CAGR+4.5%

Ardmore Shipping Corp had 41M shares outstanding in fiscal year 2025. This represents an increase of 0.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

13.2%

YoY-19.6pp

5Y CAGR+16.0pp

10Y CAGR-7.0pp

Ardmore Shipping Corp's net profit margin was 13.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 19.6 percentage points from the prior year.

Return on Equity

6.5%

YoY-15.4pp

5Y CAGR+8.4pp

10Y CAGR-2.7pp

Ardmore Shipping Corp's ROE was 6.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 15.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

ASC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$310.2M-23.6%	$405.8M+2.5%	$396.0M-11.2%	$445.7M+131.6%	$192.5M-12.5%	$220.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$6.1M-9.8%	$6.8M-40.6%	$11.4M-26.6%	$15.5M-4.1%	$16.2M-10.8%	$18.2M
Income Tax	$241K+12.1%	$215K-50.6%	$435K+110.1%	$207K+38.0%	$150K-24.6%	$199K
Net Income	$41.0M-69.2%	$133.0M+13.9%	$116.8M-15.6%	$138.5M+475.9%	-$36.8M-509.2%	-$6.0M
EPS (Diluted)	$0.88-71.2%	$3.06+12.9%	$2.71-23.0%	$3.52+414.3%	$-1.12-522.2%	$-0.18

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$82.9M+2.0%	$81.2M+12.8%	$72.0M-2.6%	$74.0M-9.8%	$82.0M-14.6%	$96.1M-20.8%	$121.3M+14.1%	$106.3M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$2.4M+37.0%	$1.7M+67.2%	$1.0M+11.6%	$935K-15.4%	$1.1M+0.2%	$1.1M-46.0%	$2.0M-19.1%	$2.5M
Income Tax	$39K-71.5%	$137K+251.3%	$39K+50.0%	$26K+100.0%	$13K-82.4%	$74K+51.0%	$49K-38.0%	$79K
Net Income	$12.4M-3.2%	$12.8M+33.2%	$9.6M+53.5%	$6.3M-9.8%	$6.9M-71.3%	$24.1M-61.5%	$62.7M+59.8%	$39.2M
EPS (Diluted)	N/A	$0.30+36.4%	$0.22+57.1%	$0.14	N/A	$0.55-62.6%	$1.47+59.8%	$0.92

ASC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$788.7M+11.9%	$704.8M+2.0%	$691.0M-4.5%	$723.9M-0.1%	$724.5M-3.7%	$752.0M
Current Assets	$111.8M-11.6%	$126.5M-0.2%	$126.8M-19.6%	$157.7M+67.4%	$94.2M-8.1%	$102.5M
Cash & Equivalents	$46.8M-0.3%	$47.0M+0.4%	$46.8M-7.4%	$50.6M-8.8%	$55.4M-5.0%	$58.4M
Inventory	$8.9M-21.2%	$11.3M-10.0%	$12.6M-20.1%	$15.7M+41.7%	$11.1M+8.0%	$10.3M
Accounts Receivable	$47.5M-21.9%	$60.9M+8.2%	$56.2M-29.6%	$79.8M+293.2%	$20.3M+14.0%	$17.8M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$154.4M+122.5%	$69.4M-40.5%	$116.5M-46.4%	$217.4M-45.0%	$395.5M-8.4%	$431.7M
Current Liabilities	$25.8M-13.4%	$29.8M-11.8%	$33.8M-36.1%	$52.9M-9.5%	$58.5M-7.0%	$62.9M
Long-Term Debt	$127.0M+227.4%	$38.8M-2.0%	$39.6M-65.8%	$115.9M-10.9%	$130.0M-30.9%	$188.1M
Total Equity	$634.3M+4.4%	$607.6M+13.1%	$537.4M+14.5%	$469.4M+60.8%	$292.0M-8.9%	$320.3M
Retained Earnings	$188.8M+14.5%	$164.9M+102.6%	$81.4M+437.7%	$15.1M+112.6%	-$119.9M-46.5%	-$81.8M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$788.7M-1.4%	$799.8M+13.6%	$703.8M+1.9%	$690.4M-2.0%	$704.8M-2.5%	$722.8M-2.6%	$742.0M+5.4%	$704.1M
Current Assets	$111.8M-3.7%	$116.2M-3.3%	$120.1M+4.5%	$115.0M-9.1%	$126.5M-4.7%	$132.8M-6.8%	$142.4M-1.0%	$143.9M
Cash & Equivalents	$46.8M-0.5%	$47.1M-4.9%	$49.5M+4.3%	$47.4M+1.0%	$47.0M-1.2%	$47.6M+0.4%	$47.4M-2.5%	$48.6M
Inventory	$8.9M-10.9%	$10.0M+0.1%	$10.0M-10.7%	$11.2M-1.0%	$11.3M-2.3%	$11.6M-12.4%	$13.2M+10.7%	$11.9M
Accounts Receivable	$47.5M-11.3%	$53.6M+1.5%	$52.8M+10.6%	$47.7M-21.6%	$60.9M-6.5%	$65.1M-13.4%	$75.2M+24.6%	$60.3M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$154.4M+7.3%	$143.9M+149.0%	$57.8M+11.2%	$52.0M-25.1%	$69.4M+18.0%	$58.8M-32.7%	$87.3M-12.0%	$99.1M
Current Liabilities	$25.8M-0.7%	$26.0M-15.9%	$30.9M+0.2%	$30.9M+3.5%	$29.8M-19.8%	$37.2M-8.6%	$40.7M-44.8%	$73.7M
Long-Term Debt	$127.0M+9.3%	$116.1M+364.6%	$25.0M+22.2%	$20.5M-47.3%	$38.8M+94.0%	$20.0M-54.7%	$44.2M+91.1%	$23.1M
Total Equity	$634.3M+1.0%	$628.2M+1.6%	$618.3M+1.2%	$610.7M+0.5%	$607.6M-3.1%	$627.0M+1.5%	$617.7M+8.8%	$567.9M
Retained Earnings	$188.8M+2.9%	$183.5M+5.3%	$174.2M+4.1%	$167.3M+1.4%	$164.9M-1.5%	$167.4M+4.6%	$160.0M+44.0%	$111.1M

ASC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$81.6M-49.1%	$160.4M+0.5%	$159.6M+28.5%	$124.2M+4405.3%	-$2.9M-106.3%	$46.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$121.0M-267.0%	-$33.0M-22.9%	-$26.8M-175.8%	$35.4M+2076.4%	$1.6M+107.8%	-$21.0M
Financing Cash Flow	$39.2M+130.8%	-$127.3M+6.8%	-$136.5M+17.0%	-$164.5M-9821.4%	-$1.7M+91.0%	-$18.5M
Dividends Paid	$12.2M-73.0%	$45.1M-4.4%	$47.2M	N/A	N/A	$1.7M
Share Buybacks	N/A	$17.9M	N/A	N/A	N/A	$287K

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$26.2M+46.1%	$17.9M+59.7%	$11.2M-57.2%	$26.3M+14.3%	$23.0M-42.4%	$39.9M-17.6%	$48.4M-1.6%	$49.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$2.0M+98.1%	-$104.4M-841.9%	-$11.1M-209.4%	-$3.6M-15.8%	-$3.1M-138.4%	-$1.3M+91.4%	-$15.1M-12.5%	-$13.4M
Financing Cash Flow	-$24.5M-129.1%	$84.0M+4368.6%	$1.9M+108.5%	-$22.2M-8.5%	-$20.5M+46.7%	-$38.4M-11.3%	-$34.5M-1.7%	-$33.9M
Dividends Paid	$4.1M+42.9%	$2.8M+40.2%	$2.0M-37.2%	$3.2M-57.2%	$7.6M-52.4%	$15.9M+22.8%	$12.9M+49.2%	$8.7M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ASC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	13.2%-19.6pp	32.8%+3.3pp	29.5%-1.6pp	31.1%+50.2pp	-19.1%-16.4pp	-2.8%
Return on Equity	6.5%-15.4pp	21.9%+0.2pp	21.7%-7.8pp	29.5%+42.1pp	-12.6%-10.7pp	-1.9%
Return on Assets	5.2%-13.7pp	18.9%+2.0pp	16.9%-2.2pp	19.1%+24.2pp	-5.1%-4.3pp	-0.8%
Current Ratio	4.33+0.1	4.24+0.5	3.75+0.8	2.98+1.4	1.61-0.0	1.63
Debt-to-Equity	0.20+0.1	0.060.0	0.07-0.2	0.25-0.2	0.45-0.1	0.59
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	14.9%-0.8pp	15.7%+2.4pp	13.3%+4.9pp	8.5%0.0pp	8.5%-16.7pp	25.1%-26.6pp	51.7%+14.8pp	36.9%
Return on Equity	1.9%-0.1pp	2.0%+0.5pp	1.6%+0.5pp	1.0%-0.1pp	1.1%-2.7pp	3.9%-6.3pp	10.2%+3.2pp	6.9%
Return on Assets	1.6%-0.0pp	1.6%+0.2pp	1.4%+0.4pp	0.9%-0.1pp	1.0%-2.4pp	3.3%-5.1pp	8.5%+2.9pp	5.6%
Current Ratio	4.33-0.1	4.46+0.6	3.88+0.2	3.73-0.5	4.24+0.7	3.57+0.1	3.50+1.5	1.95
Debt-to-Equity	0.20+0.0	0.18+0.1	0.040.0	0.03-0.0	0.06+0.0	0.03-0.0	0.07+0.0	0.04
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Ardmore Shipping Corp's annual revenue?

Ardmore Shipping Corp (ASC) reported $310.2M in total revenue for fiscal year 2025. This represents a -23.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ardmore Shipping Corp's revenue growing?

Ardmore Shipping Corp (ASC) revenue declined by 23.6% year-over-year, from $405.8M to $310.2M in fiscal year 2025.

Is Ardmore Shipping Corp profitable?

Yes, Ardmore Shipping Corp (ASC) reported a net income of $41.0M in fiscal year 2025, with a net profit margin of 13.2%.

How much debt does Ardmore Shipping Corp have?

As of fiscal year 2025, Ardmore Shipping Corp (ASC) had $46.8M in cash and equivalents against $127.0M in long-term debt.

What is Ardmore Shipping Corp's net profit margin?

Ardmore Shipping Corp (ASC) had a net profit margin of 13.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Ardmore Shipping Corp's return on equity (ROE)?

Ardmore Shipping Corp (ASC) has a return on equity of 6.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Ardmore Shipping Corp's operating cash flow?

Ardmore Shipping Corp (ASC) generated $81.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ardmore Shipping Corp's total assets?

Ardmore Shipping Corp (ASC) had $788.7M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Ardmore Shipping Corp have outstanding?

Ardmore Shipping Corp (ASC) had 41M shares outstanding as of fiscal year 2025.

What is Ardmore Shipping Corp's current ratio?

Ardmore Shipping Corp (ASC) had a current ratio of 4.33 as of fiscal year 2025, which is generally considered healthy.

What is Ardmore Shipping Corp's debt-to-equity ratio?

Ardmore Shipping Corp (ASC) had a debt-to-equity ratio of 0.20 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ardmore Shipping Corp's return on assets (ROA)?

Ardmore Shipping Corp (ASC) had a return on assets of 5.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ardmore Shipping Corp's Piotroski F-Score?

Ardmore Shipping Corp (ASC) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ardmore Shipping Corp's earnings high quality?

Ardmore Shipping Corp (ASC) has an earnings quality ratio of 1.99x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Ardmore Shipping Corp?

Ardmore Shipping Corp (ASC) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.