Diana Shipping Inc Financials

DSX

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2025 Currency USD FYE December

This page shows Diana Shipping Inc (DSX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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 54/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Diana Shipping Inc has an operating margin of 25.8%, meaning the company retains $26 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 32.7% the prior year.

Growth

Diana Shipping Inc's revenue declined 12.9% year-over-year, from $262.1M to $228.2M. This contraction results in a growth score of 0/100.

Leverage

Diana Shipping Inc carries a low D/E ratio of 0.93, meaning only $0.93 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 77/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 2.58, Diana Shipping Inc holds $2.58 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 83/100.

Returns

Diana Shipping Inc generates a 2.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 10/100. This is down from 10.2% the prior year.

Altman Z-Score Distress

-0.02

Diana Shipping Inc scores -0.02, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($276.7M) relative to total liabilities ($666.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

4/9

Diana Shipping Inc 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

6.55x

For every $1 of reported earnings, Diana Shipping Inc generates $6.55 in operating cash flow ($83.5M OCF vs $12.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.2x

Diana Shipping Inc earns $1.2 in operating income for every $1 of interest expense ($58.8M vs $47.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

$228.2M

YoY-12.9%

5Y CAGR+0.7%

10Y CAGR+2.7%

Diana Shipping Inc generated $228.2M in revenue in fiscal year 2024. This represents a decrease of 12.9% from the prior year.

EBITDA

$103.5M

YoY-23.6%

5Y CAGR+9.2%

10Y CAGR+7.1%

Diana Shipping Inc's EBITDA was $103.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 23.6% from the prior year.

Free Cash Flow

N/A

Net Income

$12.7M

YoY-74.4%

Diana Shipping Inc reported $12.7M in net income in fiscal year 2024. This represents a decrease of 74.4% from the prior year.

EPS (Diluted)

$0.05

YoY-88.1%

Diana Shipping Inc earned $0.05 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 88.1% from the prior year.

Cash & Debt

$124.7M

YoY+22.7%

5Y CAGR+3.0%

10Y CAGR-4.6%

Diana Shipping Inc held $124.7M in cash against $469.4M in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.90

YoY+50.0%

Diana Shipping Inc paid $0.90 per share in dividends in fiscal year 2024. This represents an increase of 50.0% from the prior year.

Shares Outstanding

125M

YoY+10.7%

5Y CAGR+6.5%

10Y CAGR+4.3%

Diana Shipping Inc had 125M shares outstanding in fiscal year 2024. This represents an increase of 10.7% from the prior year.

Gross Margin

N/A

Operating Margin

25.8%

YoY-6.9pp

5Y CAGR+17.8pp

10Y CAGR+36.1pp

Diana Shipping Inc's operating margin was 25.8% in fiscal year 2024, reflecting core business profitability. This is down 6.9 percentage points from the prior year.

Net Margin

5.6%

YoY-13.4pp

5Y CAGR+10.4pp

10Y CAGR+11.4pp

Diana Shipping Inc's net profit margin was 5.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 13.4 percentage points from the prior year.

Return on Equity

2.5%

YoY-7.7pp

Diana Shipping Inc's ROE was 2.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 7.7 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

DSX Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$228.2M-12.9%	$262.1M-9.6%	$290.0M+35.4%	$214.2M+26.2%	$169.7M-23.1%	$220.7M
Cost of Revenue	N/A	N/A	N/A	$5.6M-58.8%	$13.5M-0.1%	$13.5M
Gross Profit	N/A	N/A	N/A	$208.6M+33.6%	$156.2M-24.6%	$207.2M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$33.4M+1.4%	$33.0M+12.3%	$29.4M+0.6%	$29.2M-10.9%	$32.8M+14.6%	$28.6M
Operating Income	$58.8M-31.4%	$85.7M-39.9%	$142.7M+124.7%	$63.5M+156.4%	-$112.7M-739.4%	$17.6M
Interest Expense	$47.5M-3.8%	$49.3M+79.9%	$27.4M+35.5%	$20.2M-5.9%	$21.5M-26.9%	$29.4M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$12.7M-74.4%	$49.8M-58.1%	$119.1M+107.4%	$57.4M+142.8%	-$134.2M-1173.8%	-$10.5M
EPS (Diluted)	$0.05-88.1%	$0.42-69.1%	$1.36+123.0%	$0.61+137.7%	$-1.62-852.9%	$-0.17

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

DSX Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.2B+0.4%	$1.2B-1.4%	$1.2B+40.5%	$842.0M-3.5%	$872.4M-18.6%	$1.1B
Current Assets	$206.6M+13.4%	$182.2M+29.6%	$140.6M+11.9%	$125.6M+20.0%	$104.7M-23.6%	$137.0M
Cash & Equivalents	$124.7M+22.7%	$101.6M+32.9%	$76.4M-30.7%	$110.3M+75.3%	$62.9M-41.4%	$107.3M
Inventory	$4.2M-17.1%	$5.1M+11.2%	$4.5M-25.4%	$6.1M+29.1%	$4.7M-14.6%	$5.5M
Accounts Receivable	$6.6M+11.8%	$5.9M-4.2%	$6.1M+116.3%	$2.8M-45.9%	$5.2M-33.4%	$7.9M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$666.0M-1.7%	$677.4M-2.6%	$695.6M+55.0%	$448.8M+1.1%	$443.8M-11.4%	$501.2M
Current Liabilities	$80.2M-5.8%	$85.1M-35.3%	$131.6M+102.0%	$65.1M+5.8%	$61.6M-5.9%	$65.5M
Long-Term Debt	$469.4M+1.8%	$461.1M+7.0%	$431.0M+12.7%	$382.5M+0.4%	$381.1M-12.3%	$434.7M
Total Equity	$505.1M+3.3%	$489.0M+0.3%	$487.3M+23.9%	$393.2M-8.3%	$428.6M-24.8%	$570.1M
Retained Earnings	-$635.9M-3.6%	-$613.9M-6.8%	-$575.0M+2.6%	-$590.3M+0.4%	-$592.6M-30.9%	-$452.6M

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Total Assets	$1.1B-3.4%	$1.2B+0.4%	$1.2B-3.1%	$1.2B+1.8%	$1.2B+30.1%	$908.9M+8.0%	$842.0M-6.4%	$899.6M
Current Assets	$184.3M-10.8%	$206.6M+13.4%	$182.2M-6.5%	$194.8M+38.6%	$140.6M-5.1%	$148.1M+17.9%	$125.6M-21.5%	$160.1M
Cash & Equivalents	$65.1M-47.8%	$124.7M+22.7%	$101.6M-17.5%	$123.1M+61.1%	$76.4M-32.3%	$112.8M+2.3%	$110.3M-19.2%	$136.5M
Inventory	$4.3M+3.3%	$4.2M-17.1%	$5.1M+9.0%	$4.6M+2.1%	$4.5M-29.4%	$6.4M+5.7%	$6.1M+67.3%	$3.6M
Accounts Receivable	$5.1M-22.3%	$6.6M+11.8%	$5.9M+78.2%	$3.3M-46.2%	$6.1M+6.2%	$5.8M+103.6%	$2.8M-9.3%	$3.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$638.4M-4.1%	$666.0M-1.7%	$677.4M-5.5%	$716.5M+3.0%	$695.6M+42.9%	$486.8M+8.5%	$448.8M-7.3%	$483.9M
Current Liabilities	$80.4M+0.2%	$80.2M-5.8%	$85.1M-16.6%	$102.1M-22.4%	$131.6M+60.8%	$81.8M+25.6%	$65.1M+4.5%	$62.3M
Long-Term Debt	$446.7M-4.8%	$469.4M+1.8%	$461.1M-5.1%	$485.9M+12.7%	$431.0M+5.1%	$410.2M+7.2%	$382.5M-9.0%	$420.4M
Total Equity	$492.8M-2.4%	$505.1M+3.3%	$489.0M+0.3%	$487.4M0.0%	$487.3M+15.5%	$422.1M+7.4%	$393.2M-5.4%	$415.7M
Retained Earnings	-$633.6M+0.4%	-$635.9M-3.6%	-$613.9M-4.5%	-$587.5M-2.2%	-$575.0M-0.8%	-$570.4M+3.4%	-$590.3M+0.6%	-$593.9M

DSX Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$83.5M+18.7%	$70.4M-55.7%	$158.9M+77.1%	$89.7M+420.5%	$17.2M-65.5%	$49.9M
Capital Expenditures	N/A	$29.7M-87.1%	$230.3M+1224.1%	$17.4M+189.8%	$6.0M+114.0%	$2.8M
Free Cash Flow	N/A	$40.6M+156.9%	-$71.4M-198.8%	$72.3M+543.7%	$11.2M-76.1%	$47.1M
Investing Cash Flow	-$39.8M-259.6%	$24.9M+109.1%	-$273.1M-2143.7%	$13.4M+27.5%	$10.5M-72.7%	$38.4M
Financing Cash Flow	-$21.7M+69.5%	-$71.1M-183.8%	$84.9M+243.4%	-$59.2M+19.0%	-$73.1M+34.4%	-$111.4M
Dividends Paid	$29.0M-30.0%	$41.4M-48.1%	$79.8M+804.9%	$8.8M	N/A	N/A
Share Buybacks	N/A	$0-100.0%	$3.8M-91.6%	$45.4M+278.1%	$12.0M-75.8%	$49.7M

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

DSX Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	97.4%+5.4pp	92.0%-1.8pp	93.9%
Operating Margin	25.8%-6.9pp	32.7%-16.5pp	49.2%+19.6pp	29.6%+96.0pp	-66.4%-74.4pp	8.0%
Net Margin	5.6%-13.4pp	19.0%-22.0pp	41.1%+14.3pp	26.8%+105.8pp	-79.1%-74.3pp	-4.8%
Return on Equity	2.5%-7.7pp	10.2%-14.2pp	24.4%+9.8pp	14.6%	N/A	N/A
Return on Assets	1.1%-3.2pp	4.3%-5.8pp	10.1%+3.3pp	6.8%+22.2pp	-15.4%-14.4pp	-1.0%
Current Ratio	2.58+0.4	2.14+1.1	1.07-0.9	1.93+0.2	1.70-0.4	2.09
Debt-to-Equity	0.93-0.0	0.94+0.1	0.88-0.1	0.97+0.1	0.89+0.1	0.76
FCF Margin	N/A	15.5%+40.1pp	-24.6%-58.4pp	33.8%+27.1pp	6.6%-14.7pp	21.3%

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	2.29-0.3	2.58+0.4	2.14+0.2	1.91+0.8	1.07-0.7	1.81-0.1	1.93-0.6	2.57
Debt-to-Equity	0.91-0.0	0.93-0.0	0.94-0.1	1.00+0.1	0.88-0.1	0.970.0	0.97-0.0	1.01
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 Diana Shipping Inc's annual revenue?

Diana Shipping Inc (DSX) reported $228.2M in total revenue for fiscal year 2024. This represents a -12.9% 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 Diana Shipping Inc's revenue growing?

Diana Shipping Inc (DSX) revenue declined by 12.9% year-over-year, from $262.1M to $228.2M in fiscal year 2024.

Is Diana Shipping Inc profitable?

Yes, Diana Shipping Inc (DSX) reported a net income of $12.7M in fiscal year 2024, with a net profit margin of 5.6%.

What is Diana Shipping Inc's earnings per share (EPS)?

Diana Shipping Inc (DSX) reported diluted earnings per share of $0.05 for fiscal year 2024. This represents a -88.1% 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.

What is Diana Shipping Inc's EBITDA?

Diana Shipping Inc (DSX) had EBITDA of $103.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Diana Shipping Inc have?

As of fiscal year 2024, Diana Shipping Inc (DSX) had $124.7M in cash and equivalents against $469.4M in long-term debt.

What is Diana Shipping Inc's operating margin?

Diana Shipping Inc (DSX) had an operating margin of 25.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Diana Shipping Inc's net profit margin?

Diana Shipping Inc (DSX) had a net profit margin of 5.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Diana Shipping Inc pay dividends?

Yes, Diana Shipping Inc (DSX) paid $0.90 per share in dividends during fiscal year 2024.

What is Diana Shipping Inc's return on equity (ROE)?

Diana Shipping Inc (DSX) has a return on equity of 2.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Diana Shipping Inc's operating cash flow?

Diana Shipping Inc (DSX) generated $83.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Diana Shipping Inc's total assets?

Diana Shipping Inc (DSX) had $1.2B in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Diana Shipping Inc have outstanding?

Diana Shipping Inc (DSX) had 125M shares outstanding as of fiscal year 2024.

What is Diana Shipping Inc's current ratio?

Diana Shipping Inc (DSX) had a current ratio of 2.58 as of fiscal year 2024, which is generally considered healthy.

What is Diana Shipping Inc's debt-to-equity ratio?

Diana Shipping Inc (DSX) had a debt-to-equity ratio of 0.93 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Diana Shipping Inc's return on assets (ROA)?

Diana Shipping Inc (DSX) had a return on assets of 1.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Diana Shipping Inc's Altman Z-Score?

Diana Shipping Inc (DSX) has an Altman Z-Score of -0.02, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Diana Shipping Inc's Piotroski F-Score?

Diana Shipping Inc (DSX) 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 Diana Shipping Inc's earnings high quality?

Diana Shipping Inc (DSX) has an earnings quality ratio of 6.55x, 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.

Can Diana Shipping Inc cover its interest payments?

Diana Shipping Inc (DSX) has an interest coverage ratio of 1.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Diana Shipping Inc?

Diana Shipping Inc (DSX) scores 54 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.