Dht Holdings Inc Financials

DHT

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

This page shows Dht Holdings Inc (DHT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).

Rhea AI DHT FY2025 2026-04-22

DHT’s earnings engine is being driven more by asset economics and cash conversion than by simple revenue growth.

FY2025 revenue slipped to $498M, yet net margin widened to 42.3%. Operating cash flow still ran ahead of earnings at $277M, while debt-to-equity stayed restrained at 0.4x; that pairing says returns improved from operating economics, not extra balance-sheet strain.

Across FY2023-FY2025, cash conversion stayed unusually strong because depreciation remained above $100M a year, a sign that reported profit is being reduced by large non-cash charges from a heavy asset base. That is why cash from operations has exceeded net income in each of the last three years, giving the company room to fund payouts and reinvestment without leaning on heavier borrowing.

The balance sheet looks liquid rather than stretched: the current ratio was 2.8x in FY2025 and debt-to-equity was 0.4x, even after $119M of dividends paid. At the same time, retained earnings improved to -$96M, which suggests recent profits are repairing an older cumulative deficit instead of simply piling up on the balance sheet.

Financial Health Signals

Financial Profile 37/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Dht Holdings Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Dht Holdings Inc's revenue declined 12.8% year-over-year, from $571.8M to $498.4M. This contraction results in a growth score of 24/100.

Leverage

Dht Holdings Inc carries a low D/E ratio of 0.38, meaning only $0.38 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Dht Holdings Inc's current ratio of 2.80 indicates adequate short-term liquidity, earning a score of 53/100. The company can meet its near-term obligations, though with limited headroom.

Returns

Dht Holdings Inc's ROE of 18.6% shows moderate profitability relative to equity, earning a score of 50/100. This is up from 17.4% the prior year.

Piotroski F-Score Neutral

6/9

Dht Holdings Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.31x

For every $1 of reported earnings, Dht Holdings Inc generates $1.31 in operating cash flow ($276.6M OCF vs $211.0M 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

$498.4M

YoY-12.8%

5Y CAGR-6.3%

10Y CAGR+13.9%

Dht Holdings Inc generated $498.4M in revenue in fiscal year 2025. This represents a decrease of 12.8% from the prior year.

EBITDA

N/A

Net Income

$211.0M

YoY+16.3%

5Y CAGR-4.6%

Dht Holdings Inc reported $211.0M in net income in fiscal year 2025. This represents an increase of 16.3% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$79.0M

YoY+1.1%

5Y CAGR+2.9%

10Y CAGR-7.2%

Dht Holdings Inc held $79.0M in cash against $428.7M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

161M

YoY+0.5%

5Y CAGR-1.2%

Dht Holdings Inc had 161M shares outstanding in fiscal year 2025. This represents an increase of 0.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

42.3%

YoY+10.6pp

5Y CAGR+3.8pp

10Y CAGR+120.1pp

Dht Holdings Inc's net profit margin was 42.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 10.6 percentage points from the prior year.

Return on Equity

18.6%

YoY+1.2pp

5Y CAGR-5.4pp

Dht Holdings Inc's ROE was 18.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.2 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

DHT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$498.4M-12.8%	$571.8M+2.0%	$560.6M+23.4%	$454.1M+53.5%	$295.9M-57.2%	$691.0M
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	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$413K-32.1%	$608K-6.3%	$649K+10.6%	$587K+63.1%	$360K-60.0%	$900K
Net Income	$211.0M+16.3%	$181.5M+12.4%	$161.4M+160.4%	$62.0M+638.6%	-$11.5M-104.3%	$266.3M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q4'24	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22
Revenue	N/A	$107.3M	N/A	$142.1M	N/A	$131.6M	N/A	$109.9M
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	$93K	N/A	$79K	N/A	$137K	N/A	$246K
Net Income	N/A	$44.8M	N/A	$35.2M	N/A	$31.0M	N/A	$7.5M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

DHT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.6B+7.8%	$1.5B-0.4%	$1.5B-1.1%	$1.5B-6.3%	$1.6B-0.8%	$1.6B
Current Assets	$208.9M+3.5%	$201.9M+0.7%	$200.5M-14.9%	$235.6M+78.5%	$132.0M+11.6%	$118.3M
Cash & Equivalents	$79.0M+1.1%	$78.1M+4.6%	$74.7M-40.7%	$125.9M+107.6%	$60.7M-11.6%	$68.6M
Inventory	$24.7M-34.5%	$37.7M+11.5%	$33.8M	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M	$0	N/A
Total Liabilities	$469.7M+5.8%	$443.9M-3.6%	$460.6M+5.9%	$435.0M-22.6%	$562.0M+9.5%	$513.0M
Current Liabilities	$74.7M-31.8%	$109.6M+93.6%	$56.6M-12.1%	$64.4M+53.5%	$41.9M-12.5%	$47.9M
Long-Term Debt	$428.7M+4.7%	$409.4M-4.5%	$428.7M+8.1%	$396.7M-24.0%	$522.3M+16.1%	$450.0M
Total Equity	$1.1B+8.7%	$1.0B+1.1%	$1.0B-3.9%	$1.1B+2.5%	$1.0B-5.6%	$1.1B
Retained Earnings	-$96.2M+48.4%	-$186.3M+9.8%	-$206.5M-14.3%	-$180.7M+18.8%	-$222.4M-17.9%	-$188.7M

Metric	Q4'25	Q3'25	Q4'24	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22
Total Assets	$1.6B+14.7%	$1.4B-6.0%	$1.5B+0.8%	$1.5B-1.2%	$1.5B-0.4%	$1.5B-0.7%	$1.5B+2.9%	$1.5B
Current Assets	$208.9M+42.5%	$146.6M-27.4%	$201.9M+11.2%	$181.5M-9.5%	$200.5M+11.9%	$179.2M-23.9%	$235.6M+38.2%	$170.4M
Cash & Equivalents	$79.0M-2.7%	$81.3M+4.0%	$78.1M+5.8%	$73.8M-1.2%	$74.7M+1.1%	$73.9M-41.3%	$125.9M+91.7%	$65.7M
Inventory	$24.7M+5.0%	$23.5M-37.7%	$37.7M	N/A	$33.8M	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M
Total Liabilities	$469.7M+55.3%	$302.4M-31.9%	$443.9M+1.1%	$438.9M-4.7%	$460.6M-2.2%	$471.0M+8.3%	$435.0M-3.1%	$449.1M
Current Liabilities	$74.7M+22.9%	$60.8M-44.5%	$109.6M+45.6%	$75.3M+33.0%	$56.6M-28.1%	$78.8M+22.3%	$64.4M-5.2%	$67.9M
Long-Term Debt	$428.7M+59.7%	$268.5M-34.4%	$409.4M+0.4%	$407.6M-4.9%	$428.7M-1.8%	$436.6M+10.1%	$396.7M-5.3%	$418.9M
Total Equity	$1.1B+3.4%	$1.1B+5.1%	$1.0B+0.7%	$1.0B+0.4%	$1.0B+0.5%	$1.0B-4.4%	$1.1B+5.6%	$1.0B
Retained Earnings	-$96.2M+27.7%	-$133.1M+28.6%	-$186.3M+9.5%	-$205.9M+0.3%	-$206.5M+2.0%	-$210.8M-16.7%	-$180.7M+23.5%	-$236.1M

DHT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$276.6M-7.4%	$298.7M+18.8%	$251.4M+96.6%	$127.9M+111.2%	$60.6M-88.6%	$529.9M
Capital Expenditures	N/A	N/A	N/A	N/A	$48K-89.0%	$435K
Free Cash Flow	N/A	N/A	N/A	N/A	$60.5M-88.6%	$529.4M
Investing Cash Flow	-$166.4M-71.5%	-$97.0M+22.4%	-$125.0M-213.1%	$110.5M+227.7%	-$86.5M-223.8%	-$26.7M
Financing Cash Flow	-$109.5M+44.7%	-$197.9M-11.3%	-$177.8M-2.5%	-$173.3M-1064.8%	$18.0M+103.6%	-$501.9M
Dividends Paid	$118.9M-26.3%	$161.4M-13.5%	$186.7M+848.6%	$19.7M-10.9%	$22.1M-89.7%	$214.7M
Share Buybacks	N/A	$13.2M-29.8%	$18.8M-24.0%	$24.8M-23.1%	$32.2M	N/A

Metric	Q4'25	Q3'25	Q4'24	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22
Operating Cash Flow	$73.0M+19.8%	$60.9M-7.4%	$65.8M-17.9%	$80.1M+89.6%	$42.3M-24.1%	$55.7M-38.3%	$90.3M+1547.4%	$5.5M
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	-$205.7M-1887.2%	$11.5M+188.6%	-$13.0M+53.4%	-$27.9M-1166.6%	-$2.2M+97.6%	-$93.0M-5579.6%	-$1.6M-104.7%	$34.6M
Financing Cash Flow	$130.5M+276.9%	-$73.8M-53.9%	-$47.9M+7.1%	-$51.6M-30.4%	-$39.5M-104.5%	-$19.3M+33.4%	-$29.0M+63.6%	-$79.8M
Dividends Paid	$28.9M-25.0%	$38.6M+8.6%	$35.5M-18.5%	$43.6M+42.5%	$30.6M-46.0%	$56.7M+770.8%	$6.5M0.0%	$6.5M
Share Buybacks	N/A	N/A	N/A	N/A	$0-100.0%	$9.9M	$0-100.0%	$8.8M

DHT 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	42.3%+10.6pp	31.7%+3.0pp	28.8%+15.1pp	13.7%+17.5pp	-3.9%-42.4pp	38.5%
Return on Equity	18.6%+1.2pp	17.4%+1.8pp	15.6%+9.9pp	5.8%+6.9pp	-1.1%-25.1pp	24.0%
Return on Assets	13.2%+0.9pp	12.2%+1.4pp	10.8%+6.7pp	4.1%+4.8pp	-0.7%-17.1pp	16.4%
Current Ratio	2.80+1.0	1.84-1.7	3.54-0.1	3.66+0.5	3.15+0.7	2.47
Debt-to-Equity	0.38-0.0	0.39-0.0	0.42+0.0	0.37-0.1	0.50+0.1	0.41
FCF Margin	N/A	N/A	N/A	N/A	20.4%-56.2pp	76.6%

Metric	Q4'25	Q3'25	Q4'24	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22
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	N/A	41.7%	N/A	24.8%	N/A	23.5%	N/A	6.8%
Return on Equity	N/A	4.1%	N/A	3.4%	N/A	3.0%	N/A	0.7%
Return on Assets	N/A	3.2%	N/A	2.4%	N/A	2.1%	N/A	0.5%
Current Ratio	2.80+0.4	2.41+0.6	1.84-0.6	2.41-1.1	3.54+1.3	2.28-1.4	3.66+1.1	2.51
Debt-to-Equity	0.38+0.1	0.25-0.1	0.390.0	0.39-0.0	0.420.0	0.43+0.1	0.37-0.0	0.41
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 Dht Holdings Inc's annual revenue?

Dht Holdings Inc (DHT) reported $498.4M in total revenue for fiscal year 2025. This represents a -12.8% 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 Dht Holdings Inc's revenue growing?

Dht Holdings Inc (DHT) revenue declined by 12.8% year-over-year, from $571.8M to $498.4M in fiscal year 2025.

Is Dht Holdings Inc profitable?

Yes, Dht Holdings Inc (DHT) reported a net income of $211.0M in fiscal year 2025, with a net profit margin of 42.3%.

How much debt does Dht Holdings Inc have?

As of fiscal year 2025, Dht Holdings Inc (DHT) had $79.0M in cash and equivalents against $428.7M in long-term debt.

What is Dht Holdings Inc's net profit margin?

Dht Holdings Inc (DHT) had a net profit margin of 42.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Dht Holdings Inc's return on equity (ROE)?

Dht Holdings Inc (DHT) has a return on equity of 18.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Dht Holdings Inc's operating cash flow?

Dht Holdings Inc (DHT) generated $276.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Dht Holdings Inc's total assets?

Dht Holdings Inc (DHT) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Dht Holdings Inc have outstanding?

Dht Holdings Inc (DHT) had 161M shares outstanding as of fiscal year 2025.

What is Dht Holdings Inc's current ratio?

Dht Holdings Inc (DHT) had a current ratio of 2.80 as of fiscal year 2025, which is generally considered healthy.

What is Dht Holdings Inc's debt-to-equity ratio?

Dht Holdings Inc (DHT) had a debt-to-equity ratio of 0.38 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Dht Holdings Inc's return on assets (ROA)?

Dht Holdings Inc (DHT) had a return on assets of 13.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Dht Holdings Inc's Piotroski F-Score?

Dht Holdings Inc (DHT) has a Piotroski F-Score of 6 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Dht Holdings Inc's earnings high quality?

Dht Holdings Inc (DHT) has an earnings quality ratio of 1.31x, 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 Dht Holdings Inc?

Dht Holdings Inc (DHT) scores 37 out of 100 on our Financial Profile, indicating weak 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.