Himalaya Shipping Ltd. (HSHP) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 6-K for Q2 FY2026, filed Aug 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HSHP SEC filings page.
Himalaya Shipping Ltd. (HSHP) reported $131.9M in revenue for fiscal year 2025, up 6.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Himalaya Shipping has shifted from capital deployment to cash distribution, while heavy leverage keeps interest expense absorbing much operating profit.
From FY2023 to FY2025, revenue expanded from$36.7M to$131.9M , while operating margin stayed above its starting point; this points to a business that retained much of its growth after operating costs. In FY2025, a51.7% operating margin sat beside$51.7M of operating cash flow, linking reported profitability to cash generation rather than leaving earnings mostly accounting-based.
The 2024 capital deployment is visible in a
Debt-to-equity eased in FY2025, yet interest expense reached
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 Himalaya Shipping Ltd.'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.
Himalaya Shipping Ltd. has an operating margin of 51.7%, meaning the company retains $52 of operating profit per $100 of revenue. This strong profitability earns a score of 95/100, reflecting efficient cost management and pricing power. This is down from 54.0% the prior year.
Himalaya Shipping Ltd.'s revenue grew 6.7% year-over-year to $131.9M, a solid pace of expansion. This earns a growth score of 98/100.
Himalaya Shipping Ltd. has elevated debt relative to equity (D/E of 4.12), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 8/100, reflecting increased financial risk.
Himalaya Shipping Ltd.'s current ratio of 1.08 is below the typical benchmark, resulting in a score of 23/100. However, the company holds substantial cash reserves (89% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
Not available for Himalaya Shipping Ltd., and counted as zero in the overall score.
Himalaya Shipping Ltd.'s ROE of 10.9% shows moderate profitability relative to equity, earning a score of 49/100. This is down from 13.6% the prior year.
Himalaya Shipping Ltd. scores 1.20, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($843.4M) relative to total liabilities ($702.2M). 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.
Himalaya Shipping Ltd. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Himalaya Shipping Ltd. generates $2.92 in operating cash flow ($51.7M OCF vs $17.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Himalaya Shipping Ltd. earns $1.33 in operating income for every $1 of interest expense ($68.2M vs $51.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Himalaya Shipping Ltd. generated $53.7M in revenue in Q2 2026. This represents an increase of 79.6% from the same quarter a year earlier.
Himalaya Shipping Ltd.'s EBITDA was $44.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 110.5% from the same quarter a year earlier.
Himalaya Shipping Ltd. reported $24.6M in net income in Q2 2026. This represents an increase of 2136.4% from the same quarter a year earlier. Against the prior quarter it is up 392.0%.
Himalaya Shipping Ltd. earned $0.52 per diluted share (EPS) in Q2 2026. This represents an increase of 2500.0% from the same quarter a year earlier.
Cash & Balance Sheet
Himalaya Shipping Ltd. held $34.8M in cash against $653.4M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Himalaya Shipping Ltd.'s gross margin was 86.8% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 10.5 percentage points from the same quarter a year earlier.
Himalaya Shipping Ltd.'s operating margin was 68.3% in Q2 2026, reflecting core business profitability. This is up 22.9 percentage points from the same quarter a year earlier.
Himalaya Shipping Ltd.'s net profit margin was 45.8% in Q2 2026, showing the share of revenue converted to profit. This is up 42.1 percentage points from the same quarter a year earlier.
Himalaya Shipping Ltd.'s ROE was 15.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 14.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 11.9 percentage points.
Capital Allocation
None of these metrics is reported for Q2 2026.
HSHP Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'266-K | Q1'266-K | Q4'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q2'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $53.7M+79.6% | N/A | N/A | $29.9M-4.2% | N/A | N/A | $31.2M+363.5% | N/A |
| Cost of Revenue | $7.1M0.0% | N/A | N/A | $7.1M+26.8% | N/A | N/A | $5.6M+213.9% | N/A |
| Gross Profit | $46.6M+104.4% | N/A | N/A | $22.8M-10.9% | N/A | N/A | $25.6M+417.4% | N/A |
| SG&A Expenses | $1.9M+26.7% | N/A | N/A | $1.5M+15.4% | N/A | N/A | $1.3M+1.3% | N/A |
| Operating Income | $36.7M+169.9% | N/A | N/A | $13.6M-22.3% | N/A | N/A | $17.5M+1024.0% | N/A |
| EBITDA | $44.0M+110.5% | N/A | N/A | $20.9M-12.9% | N/A | N/A | $24.0M+581.4% | N/A |
| Interest Expense | $12.4M-3.1% | N/A | N/A | $12.8M+16.4% | N/A | N/A | $11.0M+325.2% | N/A |
| Income Tax | $0 | N/A | N/A | $0 | N/A | N/A | $0 | N/A |
| Net Income | $24.6M+2136.4% | $5.0M+178.1% | N/A | $1.1M-84.1% | -$6.4M | N/A | $6.9M+718.8% | N/A |
| EPS (Basic) | $0.52+2500.0% | N/A | N/A | $0.02-87.5% | N/A | N/A | $0.16+633.3% | N/A |
| EPS (Diluted) | $0.52+2500.0% | N/A | N/A | $0.02-87.5% | N/A | N/A | $0.16+633.3% | N/A |
| Diluted Shares (Avg) | 47M+1.2% | N/A | N/A | 47M+6.0% | N/A | N/A | 44M+9.5% | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
HSHP Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'266-K | Q1'266-K | Q4'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q2'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $853.8M-2.1% | N/A | $863.9M-1.8% | $871.9M-2.8% | N/A | $880.1M+46.9% | $897.3M | $599.2M+237.0% |
| Current Assets | $44.1M+33.2% | N/A | $39.7M+48.1% | $33.1M+12.1% | N/A | $26.8M-18.3% | $29.5M | $32.8M+1864.5% |
| Cash & Equivalents | $34.8M+40.9% | $24.5M-9.3% | $32.4M+67.0% | $24.7M+12.5% | $27.0M | $19.4M-24.1% | $21.9M-9.4% | $25.6M+9616.0% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $1.9M+18.8% | N/A | $1.7M+13.3% | $1.6M+24.1% | N/A | $1.5M+136.6% | $1.3M | $634K |
| Accounts Receivable | $1.2M+200.0% | N/A | $700K-41.7% | $400K-61.3% | N/A | $1.2M+48.0% | $1.0M | $811K |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $690.6M-3.1% | N/A | $702.2M-3.2% | $712.6M-3.7% | N/A | $725.4M+63.0% | $740.0M | $445.0M+408.6% |
| Current Liabilities | $37.2M+6.3% | N/A | $36.6M+2.2% | $35.0M-8.0% | N/A | $35.8M+41.5% | $38.0M | $25.3M-2.9% |
| Non-Current Liabilities | $653.4M-3.6% | N/A | $665.6M-3.5% | $677.6M-3.5% | N/A | $689.6M+64.3% | $702.0M | $419.7M+583.1% |
| Long-Term Debt | $653.4M-3.6% | N/A | $665.6M-3.5% | $677.6M-3.5% | N/A | $689.6M+64.3% | $702.0M | $419.7M+594.4% |
| Total Equity | $163.2M+2.4% | $155.8M-4.1% | $161.7M+4.5% | $159.3M+1.3% | $162.5M | $154.7M+0.3% | $157.2M+17.0% | $154.2M+70.6% |
| Retained Earnings | $66.9M+367.8% | N/A | $37.3M+90.3% | $14.3M+81.7% | N/A | $19.6M+1421.6% | $7.9M | -$1.5M+50.5% |
Not reported in any period shown, so not listed: Goodwill.
HSHP Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'266-K | Q1'266-K | Q4'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q2'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $34.2M+312.0% | N/A | N/A | $8.3M-52.8% | N/A | N/A | $17.6M+389.8% | N/A |
| Depreciation & Amortization | $7.3M0.0% | N/A | N/A | $7.3M+12.3% | N/A | N/A | $6.5M+230.8% | N/A |
| Stock-Based Compensation | $0-100.0% | N/A | N/A | $100K0.0% | N/A | N/A | $100K-10.7% | N/A |
| Investing Cash Flow | $0 | N/A | N/A | $0+100.0% | N/A | N/A | -$159.4M-26.7% | N/A |
| Financing Cash Flow | -$23.9M-125.5% | N/A | N/A | -$10.6M-107.7% | N/A | N/A | $138.0M-11.0% | N/A |
| Dividends Paid | $20.2M+531.3% | N/A | N/A | $3.2M-27.3% | N/A | N/A | $4.4M | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.
HSHP Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'266-K | Q1'266-K | Q4'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q2'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.8%+10.5pp | N/A | N/A | 76.3%-5.8pp | N/A | N/A | 82.0%+8.6pp | N/A |
| Operating Margin | 68.3%+22.9pp | N/A | N/A | 45.5%-10.6pp | N/A | N/A | 56.1%+33.0pp | N/A |
| Net Margin | 45.8%+42.1pp | N/A | N/A | 3.7%-18.4pp | N/A | N/A | 22.1%+38.7pp | N/A |
| Return on Equity | 15.1%+14.4pp | 3.2%+7.1pp | N/A | 0.7%-3.7pp | -3.9% | N/A | 4.4%+5.2pp | N/A |
| Return on Assets | 2.9%+2.8pp | N/A | N/A | 0.1%-0.6pp | N/A | N/A | 0.8% | N/A |
| Current Ratio | 1.19+0.2x | N/A | 1.08+0.3x | 0.95+0.2x | N/A | 0.75-0.5x | 0.78 | 1.30+1.2x |
| Debt-to-Equity | 4.00-0.2x | N/A | 4.12-0.3x | 4.25-0.2x | N/A | 4.46+1.7x | 4.47 | 2.72+2.1x |
| Asset Turnover | 0.060.0x | N/A | N/A | 0.030.0x | N/A | N/A | 0.03 | N/A |
Not reported in any period shown, so not listed: FCF Margin.
Where Himalaya Shipping Ltd. Ranks
Frequently Asked Questions
What is Himalaya Shipping Ltd.'s annual revenue?
Himalaya Shipping Ltd. (HSHP) reported $131.9M in total revenue for fiscal year 2025. This represents a 6.7% 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 Himalaya Shipping Ltd.'s revenue growing?
Himalaya Shipping Ltd. (HSHP) revenue grew by 6.7% year-over-year, from $123.6M to $131.9M in fiscal year 2025.
Is Himalaya Shipping Ltd. profitable?
Yes, Himalaya Shipping Ltd. (HSHP) reported a net income of $17.7M in fiscal year 2025, with a net profit margin of 13.4%.
What is Himalaya Shipping Ltd.'s EBITDA?
Himalaya Shipping Ltd. (HSHP) had EBITDA of $97.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Himalaya Shipping Ltd. have?
As of fiscal year 2025, Himalaya Shipping Ltd. (HSHP) had $32.4M in cash and equivalents against $665.6M in long-term debt.
What is Himalaya Shipping Ltd.'s gross margin?
Himalaya Shipping Ltd. (HSHP) had a gross margin of 78.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Himalaya Shipping Ltd.'s operating margin?
Himalaya Shipping Ltd. (HSHP) had an operating margin of 51.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Himalaya Shipping Ltd.'s net profit margin?
Himalaya Shipping Ltd. (HSHP) had a net profit margin of 13.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Himalaya Shipping Ltd. pay dividends?
Yes, Himalaya Shipping Ltd. (HSHP) paid $0.57 per share in dividends during fiscal year 2025.
What is Himalaya Shipping Ltd.'s return on equity (ROE)?
Himalaya Shipping Ltd. (HSHP) has a return on equity of 10.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Himalaya Shipping Ltd.'s operating cash flow?
Himalaya Shipping Ltd. (HSHP) generated $51.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Himalaya Shipping Ltd.'s total assets?
Himalaya Shipping Ltd. (HSHP) had $863.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Himalaya Shipping Ltd.'s current ratio?
Himalaya Shipping Ltd. (HSHP) had a current ratio of 1.08 as of fiscal year 2025, which is considered adequate.
What is Himalaya Shipping Ltd.'s debt-to-equity ratio?
Himalaya Shipping Ltd. (HSHP) had a debt-to-equity ratio of 4.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Himalaya Shipping Ltd.'s return on assets (ROA)?
Himalaya Shipping Ltd. (HSHP) had a return on assets of 2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Himalaya Shipping Ltd.'s P/E ratio?
Himalaya Shipping Ltd. (HSHP) trades at 47.6x earnings, its market capitalization divided by net income of $17.7M net income, FY2025. The market capitalization is $843.4M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Himalaya Shipping Ltd.'s price-to-sales ratio?
Himalaya Shipping Ltd. (HSHP) trades at 6.4x sales, its market capitalization divided by revenue of $131.9M revenue, FY2025. The market capitalization is $843.4M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Himalaya Shipping Ltd.'s Altman Z-Score?
Himalaya Shipping Ltd. (HSHP) has an Altman Z-Score of 1.20, 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 Himalaya Shipping Ltd.'s Piotroski F-Score?
Himalaya Shipping Ltd. (HSHP) 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 Himalaya Shipping Ltd.'s earnings high quality?
Himalaya Shipping Ltd. (HSHP) has an earnings quality ratio of 2.92x, 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 Himalaya Shipping Ltd. cover its interest payments?
Himalaya Shipping Ltd. (HSHP) has an interest coverage ratio of 1.33x, 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 Himalaya Shipping Ltd.?
Himalaya Shipping Ltd. (HSHP) scores 46 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.