Diana Shipping Inc Financials
Diana Shipping Inc (DSX) reported $213.5M in revenue for fiscal year 2025, down 6.4% from the prior fiscal year. This page shows its 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).
Stable leverage and a fixed asset base are meeting weaker revenue, squeezing operating returns even while earnings stay positive.
FY2025's higher net income masks a weaker operating year: operating cash flow fell to$47.5M from$83.5M . At the same time, operating margin slipped to19.8% from25.8% , so lower financing drag helped reported profit even as the core business converted each revenue dollar into less cash.
Liquidity looks better than cash suggests: the current ratio improved to 2.7x in FY2025, yet cash fell to
Leverage has been steady rather than shrinking, with debt-to-equity staying near 0.9x as total assets held around
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Diana Shipping 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.
Diana Shipping Inc has an operating margin of 19.8%, meaning the company retains $20 of operating profit per $100 of revenue. This strong profitability earns a score of 82/100, reflecting efficient cost management and pricing power. This is down from 25.8% the prior year.
Diana Shipping Inc's revenue declined 6.4% year-over-year, from $228.2M to $213.5M. This contraction results in a growth score of 11/100.
Diana Shipping Inc has elevated debt relative to equity (D/E of 0.94), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 12/100, reflecting increased financial risk.
With a current ratio of 2.73, Diana Shipping Inc holds $2.73 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 73/100.
Diana Shipping Inc's ROE of 3.5% shows moderate profitability relative to equity, earning a score of 53/100. This is up from 2.5% the prior year.
Diana Shipping Inc scores 0.01, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($337.2M) relative to total liabilities ($667.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Diana Shipping Inc passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Diana Shipping Inc generates $2.66 in operating cash flow ($47.5M OCF vs $17.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Diana Shipping Inc earns $0.98 in operating income for every $1 of interest expense ($42.2M vs $43.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Diana Shipping Inc generated $213.5M in revenue in fiscal year 2025. This represents a decrease of 6.4% from the prior year.
Diana Shipping Inc's EBITDA was $88.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 14.3% from the prior year.
Diana Shipping Inc reported $17.8M in net income in fiscal year 2025. This represents an increase of 39.9% from the prior year.
Cash & Balance Sheet
Diana Shipping Inc held $50.5M in cash against $472.5M in long-term debt as of fiscal year 2025.
Diana Shipping Inc paid $0.04 per share in dividends in fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Diana Shipping Inc's operating margin was 19.8% in fiscal year 2025, reflecting core business profitability. This is down 6.0 percentage points from the prior year.
Diana Shipping Inc's net profit margin was 8.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.8 percentage points from the prior year.
Diana Shipping Inc's ROE was 3.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.0 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Diana Shipping Inc spent $23.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
DSX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $213.5M-6.4% | $228.2M-12.9% | $262.1M-9.6% | $290.0M+35.4% | $214.2M+26.2% | $169.7M-23.1% | $220.7M-2.4% | $226.2M+39.7% | $161.9M+41.7% | $114.3M-27.6% | $157.7M-10.2% | $175.6M+7.1% | $164.0M-25.7% | $220.8M-13.6% | $255.7M |
| Cost of Revenue | N/A | N/A | N/A | N/A | $5.6M-58.8% | $13.5M-0.1% | $13.5M | 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 | $208.6M+33.6% | $156.2M-24.6% | $207.2M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $34.1M+2.0% | $33.4M+1.4% | $33.0M+12.3% | $29.4M+0.6% | $29.2M-10.9% | $32.8M+14.6% | $28.6M-3.1% | $29.5M+12.1% | $26.3M+3.2% | $25.5M+0.7% | $25.3M-3.4% | $26.2M+10.5% | $23.7M-4.8% | $24.9M-0.8% | $25.1M |
| Operating Income | $42.2M-28.2% | $58.8M-31.4% | $85.7M-39.9% | $142.7M+124.7% | $63.5M+156.4% | -$112.7M-739.4% | $17.6M-53.9% | $38.3M+107.9% | -$484.0M-448.0% | -$88.3M-87.2% | -$47.2M-159.2% | -$18.2M-110.4% | -$8.7M-113.7% | $63.1M-43.1% | $110.9M |
| Interest Expense | $43.0M-9.5% | $47.5M-3.8% | $49.3M+79.9% | $27.4M+35.5% | $20.2M-5.9% | $21.5M-26.9% | $29.4M-3.5% | $30.5M+22.1% | $25.0M+27.9% | $19.5M+40.2% | $13.9M+78.1% | $7.8M+2.8% | $7.6M+8.2% | $7.0M+56.2% | $4.5M |
| Net Income | $17.8M+39.9% | $12.7M-74.4% | $49.8M-58.1% | $119.1M+107.4% | $57.4M+142.8% | -$134.2M-1173.8% | -$10.5M-163.5% | $16.6M+103.2% | -$511.7M-211.6% | -$164.2M-153.8% | -$64.7M-530.2% | -$10.3M+51.6% | -$21.2M-138.8% | $54.6M-49.2% | $107.5M |
| EPS (Diluted) | $0.11 | $0.05 | $0.42-69.1% | $1.36+123.0% | $0.61+137.7% | -$1.62-852.9% | -$0.17 | N/A | N/A | N/A | N/A | N/A | N/A | $0.67-49.6% | $1.33 |
Not reported in any period shown, so not listed: R&D Expenses, Income Tax.
DSX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B-0.1% | $1.2B+0.4% | $1.2B-1.4% | $1.2B+40.5% | $842.0M-3.5% | $872.4M-18.6% | $1.1B-9.8% | $1.2B-4.7% | $1.2B-25.3% | $1.7B-9.2% | $1.8B+2.8% | $1.8B+5.0% | $1.7B-2.3% | $1.7B+8.6% | $1.6B |
| Current Assets | $244.9M+18.5% | $206.6M+13.4% | $182.2M+29.6% | $140.6M+11.9% | $125.6M+20.0% | $104.7M-23.6% | $137.0M-3.5% | $142.0M+2.3% | $138.8M+20.3% | $115.3M-40.4% | $193.5M-18.8% | $238.2M-5.4% | $251.9M-46.1% | $467.0M+7.9% | $432.7M |
| Cash & Equivalents | $50.5M-59.5% | $124.7M+22.7% | $101.6M+32.9% | $76.4M-30.7% | $110.3M+75.3% | $62.9M-41.4% | $107.3M-15.4% | $126.8M+215.3% | $40.2M-59.0% | $98.1M-42.8% | $171.7M-13.9% | $199.4M-10.4% | $222.6M-50.2% | $446.6M+7.2% | $416.7M |
| Inventory | $4.1M-1.3% | $4.2M-17.1% | $5.1M+11.2% | $4.5M-25.4% | $6.1M+29.1% | $4.7M-14.6% | $5.5M-5.3% | $5.8M+1.1% | $5.8M-1.5% | $5.9M-6.3% | $6.3M-14.5% | $7.3M+22.7% | $6.0M+13.0% | $5.3M+9.7% | $4.8M |
| Accounts Receivable | $3.7M-43.0% | $6.6M+11.8% | $5.9M-4.2% | $6.1M+116.3% | $2.8M-45.9% | $5.2M-33.4% | $7.9M+166.7% | $2.9M-40.3% | $4.9M-16.4% | $5.9M+30.8% | $4.5M-29.3% | $6.4M+810.6% | $701K-89.4% | $6.6M+18.4% | $5.6M |
| Total Liabilities | $667.8M+0.3% | $666.0M-1.7% | $677.4M-2.6% | $695.6M+55.0% | $448.8M+1.1% | $443.8M-11.4% | $501.2M-10.5% | $560.1M-9.9% | $622.0M+1.6% | $612.1M-1.1% | $618.6M+22.5% | $504.9M+12.6% | $448.6M-5.8% | $476.4M+20.4% | $395.6M |
| Current Liabilities | $89.6M+11.7% | $80.2M-5.8% | $85.1M-35.3% | $131.6M+102.0% | $65.1M+5.8% | $61.6M-5.9% | $65.5M-47.7% | $125.2M+55.6% | $80.4M+2.8% | $78.2M+32.8% | $58.9M-40.0% | $98.1M+57.5% | $62.3M+1.3% | $61.5M+27.8% | $48.1M |
| Long-Term Debt | $472.5M+0.7% | $469.4M+1.8% | $461.1M+7.0% | $431.0M+12.7% | $382.5M+0.4% | $381.1M-12.3% | $434.7M+0.1% | $434.1M-19.7% | $540.6M+1.4% | $533.1M-4.6% | $559.1M+37.9% | $405.5M+5.2% | $385.5M-6.9% | $414.1M+19.8% | $345.6M |
| Total Equity | $502.4M-0.5% | $505.1M+3.3% | $489.0M+0.3% | $487.3M+23.9% | $393.2M-8.3% | $428.6M-24.8% | $570.1M-9.2% | $627.7M+0.5% | $624.8M-40.9% | $1.1B-13.3% | $1.2B-5.0% | $1.3B+2.3% | $1.3B-1.0% | $1.3B+4.8% | $1.2B |
| Retained Earnings | -$628.5M+1.2% | -$635.9M-3.6% | -$613.9M-6.8% | -$575.0M+2.6% | -$590.3M+0.4% | -$592.6M-30.9% | -$452.6M-3.7% | -$436.3M+2.4% | -$447.1M-735.5% | $70.4M-70.7% | $240.4M-22.7% | $310.8M-4.7% | $326.2M-6.1% | $347.4M+18.7% | $292.8M |
Not reported in any period shown, so not listed: Goodwill.
DSX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $47.5M-43.1% | $83.5M+18.7% | $70.4M-55.7% | $158.9M+77.1% | $89.7M+420.5% | $17.2M-65.5% | $49.9M-37.6% | $79.9M+241.4% | $23.4M+211.5% | -$21.0M-187.7% | $23.9M-46.7% | $44.9M-33.4% | $67.4M-43.8% | $119.9M-22.3% | $154.2M |
| Capital Expenditures | N/A | N/A | $29.7M-87.1% | $230.3M+1224.1% | $17.4M+189.8% | $6.0M+114.0% | $2.8M+9.0% | $2.6M-98.0% | $125.8M+147.1% | $50.9M-67.2% | $155.4M+39.1% | $111.7M-43.7% | $198.6M+16.0% | $171.2M+193.7% | $58.3M |
| Free Cash Flow | N/A | N/A | $40.6M+156.9% | -$71.4M-198.8% | $72.3M+543.7% | $11.2M-76.1% | $47.1M-39.1% | $77.4M+175.6% | -$102.4M-42.4% | -$71.9M+45.3% | -$131.4M-96.7% | -$66.8M+49.1% | -$131.2M-155.7% | -$51.3M-153.5% | $95.9M |
| Investing Cash Flow | -$32.0M+19.5% | -$39.8M-259.6% | $24.9M+109.1% | -$273.1M-2143.7% | $13.4M+27.5% | $10.5M-72.7% | $38.4M-61.4% | $99.4M+165.2% | -$152.3M-266.0% | -$41.6M+73.3% | -$155.6M-2.0% | -$152.5M+37.8% | -$245.2M-44.3% | -$169.9M-87.9% | -$90.4M |
| Financing Cash Flow | -$36.9M-70.3% | -$21.7M+69.5% | -$71.1M-183.8% | $84.9M+243.4% | -$59.2M+19.0% | -$73.1M+34.4% | -$111.4M-18.9% | -$93.7M-227.3% | $73.6M+878.0% | -$9.5M-108.9% | $106.0M+25.6% | $84.4M+398.8% | -$28.2M-135.3% | $80.0M+972.4% | $7.5M |
| Dividends Paid | $4.6M-84.0% | $29.0M-30.0% | $41.4M-48.1% | $79.8M+804.9% | $8.8M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $23.0M | $0 | $0-100.0% | $3.8M-91.6% | $45.4M+278.1% | $12.0M-75.8% | $49.7M+227.8% | $15.2M | $0 | $0-100.0% | $2.7M-89.5% | $25.3M | $0-100.0% | $6.0M+409.2% | $1.2M |
DSX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | 97.4%+5.4pp | 92.0%-1.8pp | 93.9% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 19.8%-6.0pp | 25.8%-6.9pp | 32.7%-16.5pp | 49.2%+19.6pp | 29.6%+96.0pp | -66.4%-74.4pp | 8.0%-8.9pp | 16.9% | -298.9% | -77.3%-47.4pp | -29.9%-19.5pp | -10.4%-5.1pp | -5.3%-33.9pp | 28.6%-14.8pp | 43.4% |
| Net Margin | 8.3%+2.8pp | 5.6%-13.4pp | 19.0%-22.0pp | 41.1%+14.3pp | 26.8%+105.8pp | -79.1%-74.3pp | -4.8%-12.1pp | 7.3% | -316.1% | -143.7% | -41.0%-35.2pp | -5.9%+7.1pp | -12.9%-37.7pp | 24.8%-17.3pp | 42.0% |
| Return on Equity | 3.5%+1.0pp | 2.5%-7.7pp | 10.2%-14.2pp | 24.4%+9.8pp | 14.6%+45.9pp | -31.3%-29.5pp | -1.8%-4.5pp | 2.6%+84.5pp | -81.9%-66.4pp | -15.5%-10.2pp | -5.3%-4.5pp | -0.8%+0.9pp | -1.7%-6.0pp | 4.3%-4.6pp | 8.9% |
| Return on Assets | 1.5%+0.4pp | 1.1%-3.2pp | 4.3%-5.8pp | 10.1%+3.3pp | 6.8%+22.2pp | -15.4%-14.4pp | -1.0%-2.4pp | 1.4%+42.4pp | -41.0%-31.2pp | -9.8%-6.3pp | -3.5%-3.0pp | -0.6%+0.7pp | -1.3%-4.4pp | 3.1%-3.6pp | 6.7% |
| Current Ratio | 2.73+0.2x | 2.58+0.4x | 2.14+1.1x | 1.07-0.9x | 1.93+0.2x | 1.70-0.4x | 2.09+1.0x | 1.13-0.6x | 1.73+0.3x | 1.47-1.8x | 3.29+0.9x | 2.43-1.6x | 4.04-3.6x | 7.60-1.4x | 9.00 |
| Debt-to-Equity | 0.940.0x | 0.930.0x | 0.94+0.1x | 0.88-0.1x | 0.97+0.1x | 0.89+0.1x | 0.76+0.1x | 0.69-0.2x | 0.87+0.4x | 0.500.0x | 0.46+0.1x | 0.320.0x | 0.310.0x | 0.330.0x | 0.29 |
| FCF Margin | N/A | N/A | 15.5%+40.1pp | -24.6%-58.4pp | 33.8%+27.1pp | 6.6%-14.7pp | 21.3%-12.9pp | 34.2%+97.4pp | -63.2%-0.3pp | -62.9%+20.4pp | -83.3%-45.3pp | -38.0%+42.0pp | -80.0%-56.8pp | -23.2%-60.8pp | 37.5% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
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Where Diana Shipping Inc Ranks
Frequently Asked Questions
What is Diana Shipping Inc's annual revenue?
Diana Shipping Inc (DSX) reported $213.5M in total revenue for fiscal year 2025. This represents a -6.4% 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 6.4% year-over-year, from $228.2M to $213.5M in fiscal year 2025.
Is Diana Shipping Inc profitable?
Yes, Diana Shipping Inc (DSX) reported a net income of $17.8M in fiscal year 2025, with a net profit margin of 8.3%.
What is Diana Shipping Inc's EBITDA?
Diana Shipping Inc (DSX) had EBITDA of $88.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Diana Shipping Inc have?
As of fiscal year 2025, Diana Shipping Inc (DSX) had $50.5M in cash and equivalents against $472.5M in long-term debt.
What is Diana Shipping Inc's operating margin?
Diana Shipping Inc (DSX) had an operating margin of 19.8% in fiscal year 2025, 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 8.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Diana Shipping Inc pay dividends?
Yes, Diana Shipping Inc (DSX) paid $0.04 per share in dividends during fiscal year 2025.
What is Diana Shipping Inc's return on equity (ROE)?
Diana Shipping Inc (DSX) has a return on equity of 3.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Diana Shipping Inc's operating cash flow?
Diana Shipping Inc (DSX) generated $47.5M in operating cash flow during fiscal year 2025, 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 2025, including both current and long-term assets.
What is Diana Shipping Inc's current ratio?
Diana Shipping Inc (DSX) had a current ratio of 2.73 as of fiscal year 2025, 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 0.94 as of fiscal year 2025, 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 1.5% for fiscal year 2025, 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 0.01, 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 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Diana Shipping Inc's earnings high quality?
Diana Shipping Inc (DSX) has an earnings quality ratio of 2.66x, 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 0.98x, 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 52 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.