Navios Financials

NMM

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

This page shows Navios (NMM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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 51/100

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

Growth

Navios's revenue grew a modest 2.1% year-over-year to $1.3B. This slow but positive growth earns a score of 35/100.

Leverage

100

Navios carries a low D/E ratio of 0.30, meaning only $0.30 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Navios's current ratio of 1.08 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 23/100, which could limit financial flexibility.

Returns

Navios's ROE of 11.8% shows moderate profitability relative to equity, earning a score of 47/100. This is down from 15.7% the prior year.

Piotroski F-Score Neutral

6/9

Navios 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.

Earnings Quality Cash-Backed

1.32x

For every $1 of reported earnings, Navios generates $1.32 in operating cash flow ($483.5M OCF vs $367.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$1.3B

YoY+2.1%

5Y CAGR+43.5%

10Y CAGR+19.4%

Navios generated $1.3B in revenue in fiscal year 2024. This represents an increase of 2.1% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$367.3M

YoY-15.3%

10Y CAGR+17.2%

Navios reported $367.3M in net income in fiscal year 2024. This represents a decrease of 15.3% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$270.2M

YoY+12.4%

5Y CAGR+63.2%

10Y CAGR+10.5%

Navios held $270.2M in cash against $917.1M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

30M

YoY-1.6%

Navios had 30M shares outstanding in fiscal year 2024. This represents a decrease of 1.6% from the prior year.

Gross Margin

89.0%

YoY+1.3pp

5Y CAGR-5.4pp

10Y CAGR-4.2pp

Navios's gross margin was 89.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.3 percentage points from the prior year.

Operating Margin

N/A

Net Margin

27.5%

YoY-5.6pp

5Y CAGR+55.9pp

10Y CAGR-5.4pp

Navios's net profit margin was 27.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 5.6 percentage points from the prior year.

Return on Equity

11.8%

YoY-3.8pp

10Y CAGR+1.8pp

Navios's ROE was 11.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 3.8 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

NMM Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.3B+2.1%	$1.3B+8.0%	$1.2B+69.7%	$713.2M+214.5%	$226.8M+3.4%	$219.4M
Cost of Revenue	$146.4M-8.6%	$160.2M+30.7%	$122.6M+239.3%	$36.1M+227.7%	$11.0M-10.6%	$12.3M
Gross Profit	$1.2B+3.6%	$1.1B+5.4%	$1.1B+60.7%	$677.0M+213.8%	$215.7M+4.2%	$207.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$85.2M+5.7%	$80.6M+19.9%	$67.2M+62.0%	$41.5M+72.7%	$24.0M+14.4%	$21.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$124.5M-6.8%	$133.6M+60.8%	$83.1M+94.3%	$42.8M+77.0%	$24.2M-46.6%	$45.3M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$367.3M-15.3%	$433.6M-25.1%	$579.2M+12.2%	$516.2M+853.1%	-$68.5M-10.3%	-$62.1M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Revenue	$327.6M-4.3%	$342.2M	N/A	$346.9M	N/A	$280.7M	N/A	$152.0M
Cost of Revenue	$31.2M-22.0%	$40.0M	N/A	$42.0M	N/A	$21.7M	N/A	$5.9M
Gross Profit	$296.3M-1.9%	$302.1M	N/A	$305.0M	N/A	$258.9M	N/A	$146.1M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$23.4M+13.8%	$20.6M	N/A	$20.5M	N/A	$14.2M	N/A	$10.3M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$33.5M+11.3%	$30.1M	N/A	$33.3M	N/A	$14.5M	N/A	$7.3M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$69.9M-31.1%	$101.5M	N/A	$112.3M	N/A	$118.2M	N/A	$99.9M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$4.31

NMM Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$5.7B+10.2%	$5.1B+5.1%	$4.9B+35.1%	$3.6B+200.1%	$1.2B-3.7%	$1.3B
Current Assets	$443.0M+10.8%	$399.7M+28.8%	$310.4M+37.1%	$226.3M+272.4%	$60.8M-20.0%	$76.0M
Cash & Equivalents	$270.2M+12.4%	$240.4M+52.3%	$157.8M-1.0%	$159.5M+726.1%	$19.3M-17.3%	$23.4M
Inventory	$32.8M-12.7%	$37.6M+15.0%	$32.7M+55.0%	$21.1M+236.2%	$6.3M-0.2%	$6.3M
Accounts Receivable	$33.4M-20.9%	$42.2M-43.7%	$75.0M+215.6%	$23.8M+40.1%	$17.0M+50.3%	$11.3M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.6B+8.0%	$2.4B-6.9%	$2.6B+37.7%	$1.9B+235.5%	$552.4M+5.1%	$525.5M
Current Liabilities	$409.7M-10.9%	$459.6M-25.6%	$617.7M+56.2%	$395.5M+56.2%	$253.3M+217.4%	$79.8M
Long-Term Debt	$917.1M+22.0%	$751.8M+9.0%	$689.7M+7.6%	$640.9M+180.4%	$228.5M-34.0%	$346.5M
Total Equity	$3.1B+12.1%	$2.8B+18.2%	$2.3B+32.4%	$1.8B+170.3%	$654.8M-10.1%	$728.0M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Total Assets	$5.9B+3.7%	$5.7B+10.2%	$5.1B+3.7%	$5.0B+1.4%	$4.9B+33.1%	$3.7B+1.5%	$3.6B+55.1%	$2.3B
Current Assets	$500.8M+13.0%	$443.0M+10.8%	$399.7M+9.9%	$363.9M+17.2%	$310.4M+6.0%	$292.7M+29.3%	$226.3M-19.7%	$282.0M
Cash & Equivalents	$377.0M+39.6%	$270.2M+12.4%	$240.4M-8.0%	$261.4M+65.6%	$157.8M-3.4%	$163.4M+2.4%	$159.5M-29.8%	$227.1M
Inventory	N/A	$32.8M-12.7%	$37.6M	N/A	$32.7M+23.7%	$26.4M+25.3%	$21.1M	N/A
Accounts Receivable	$21.3M-36.2%	$33.4M-20.9%	$42.2M+34.2%	$31.5M-58.1%	$75.0M+79.5%	$41.8M+75.8%	$23.8M+13.8%	$20.9M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.7B+5.0%	$2.6B+8.0%	$2.4B-1.5%	$2.4B-5.4%	$2.6B+49.4%	$1.7B-7.8%	$1.9B+72.6%	$1.1B
Current Liabilities	$459.0M+12.1%	$409.7M-10.9%	$459.6M+4.3%	$440.8M-28.6%	$617.7M+99.2%	$310.1M-21.6%	$395.5M+135.2%	$168.1M
Long-Term Debt	$985.0M+7.4%	$917.1M+22.0%	$751.8M-1.5%	$763.4M+10.7%	$689.7M+5.7%	$652.3M+1.8%	$640.9M+41.5%	$453.0M
Total Equity	$3.2B+2.7%	$3.1B+12.1%	$2.8B+8.6%	$2.6B+8.9%	$2.3B+18.9%	$2.0B+11.3%	$1.8B+40.2%	$1.3B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

NMM Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$483.5M-13.7%	$560.3M+10.7%	$506.3M+82.7%	$277.2M+194.6%	$94.1M+33.7%	$70.4M
Capital Expenditures	N/A	$182.9M-57.8%	$433.8M+99.9%	$217.0M+199.7%	$72.4M+242.1%	$21.2M
Free Cash Flow	N/A	$377.4M+420.1%	$72.6M+20.7%	$60.1M+177.5%	$21.7M-56.0%	$49.2M
Investing Cash Flow	-$782.1M-209.1%	-$253.0M+20.0%	-$316.2M-197.6%	-$106.3M-26.7%	-$83.9M-392.3%	-$17.0M
Financing Cash Flow	$349.3M+249.8%	-$233.2M-26.4%	-$184.4M-472.8%	-$32.2M-225.1%	-$9.9M+88.3%	-$84.4M
Dividends Paid	$6.1M-0.5%	$6.2M0.0%	$6.2M+33.5%	$4.6M-41.4%	$7.9M-41.9%	$13.6M
Share Buybacks	N/A	N/A	N/A	$0	$0-100.0%	$4.5M

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	$154.8M	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

NMM Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	89.0%+1.3pp	87.7%-2.1pp	89.9%-5.1pp	94.9%-0.2pp	95.1%+0.8pp	94.4%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	27.5%-5.6pp	33.2%-14.7pp	47.9%-24.5pp	72.4%+102.6pp	-30.2%-1.9pp	-28.3%
Return on Equity	11.8%-3.8pp	15.7%-9.1pp	24.7%-4.5pp	29.2%	N/A	N/A
Return on Assets	6.5%-2.0pp	8.4%-3.4pp	11.8%-2.4pp	14.2%+19.9pp	-5.7%-0.7pp	-5.0%
Current Ratio	1.08+0.2	0.87+0.4	0.50-0.1	0.57+0.3	0.24-0.7	0.95
Debt-to-Equity	0.30+0.0	0.27-0.0	0.29-0.1	0.36+0.0	0.35-0.1	0.48
FCF Margin	N/A	28.9%+22.9pp	6.0%-2.4pp	8.4%-1.1pp	9.6%-12.9pp	22.4%

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Gross Margin	90.5%+2.2pp	88.3%	N/A	87.9%	N/A	92.3%	N/A	96.1%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	21.3%-8.3pp	29.7%	N/A	32.4%	N/A	42.1%	N/A	65.7%
Return on Equity	2.2%-1.3pp	3.5%	N/A	4.4%	N/A	6.0%	N/A	7.9%
Return on Assets	1.2%-0.7pp	1.9%	N/A	2.3%	N/A	3.2%	N/A	4.3%
Current Ratio	1.090.0	1.08+0.2	0.87+0.0	0.83+0.3	0.50-0.4	0.94+0.4	0.57-1.1	1.68
Debt-to-Equity	0.31+0.0	0.30+0.0	0.27-0.0	0.300.0	0.29-0.0	0.33-0.0	0.360.0	0.36
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 Navios's annual revenue?

Navios (NMM) reported $1.3B in total revenue for fiscal year 2024. This represents a 2.1% 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 Navios's revenue growing?

Navios (NMM) revenue grew by 2.1% year-over-year, from $1.3B to $1.3B in fiscal year 2024.

Is Navios profitable?

Yes, Navios (NMM) reported a net income of $367.3M in fiscal year 2024, with a net profit margin of 27.5%.

How much debt does Navios have?

As of fiscal year 2024, Navios (NMM) had $270.2M in cash and equivalents against $917.1M in long-term debt.

What is Navios's gross margin?

Navios (NMM) had a gross margin of 89.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Navios's net profit margin?

Navios (NMM) had a net profit margin of 27.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Navios's return on equity (ROE)?

Navios (NMM) has a return on equity of 11.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Navios's operating cash flow?

Navios (NMM) generated $483.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Navios's total assets?

Navios (NMM) had $5.7B in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Navios have outstanding?

Navios (NMM) had 30M shares outstanding as of fiscal year 2024.

What is Navios's current ratio?

Navios (NMM) had a current ratio of 1.08 as of fiscal year 2024, which is considered adequate.

What is Navios's debt-to-equity ratio?

Navios (NMM) had a debt-to-equity ratio of 0.30 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Navios's return on assets (ROA)?

Navios (NMM) had a return on assets of 6.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Navios's Piotroski F-Score?

Navios (NMM) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Navios's earnings high quality?

Navios (NMM) has an earnings quality ratio of 1.32x, 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 Navios?

Navios (NMM) scores 51 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.