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

Performance Shipping Inc (PSHG) reported diluted earnings per share of $1.28 for fiscal year 2025. This represents a 15.3% 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.

Performance Shipping Inc Financials

PSHG

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

This page shows Performance Shipping Inc (PSHG) 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).

Rhea AI PSHG FY2024 2026-04-27

Profit swings are driven by high operating leverage, but a cash-rich balance sheet now absorbs much of that volatility.

Between FY2022 and FY2024, profit surges were turned into balance-sheet capacity: cash rose from $38.7M to $70.3M instead of being matched by heavier leverage. That financing reset shows up in the income statement, where interest expense fell from $9.6M in FY2023 to $1.3M in FY2024, helping net income stay positive even as the topline cooled.

The business carries a small overhead base, so a change in revenue does not get buffered by large administrative spending; it hits profit quickly. That is visible in operating margin compression from 69.3% to 47.8% as FY2024 revenue came off its FY2023 peak.

FY2024 also showed strong cash conversion: operating cash flow of $59.9M was well above net income of $43.7M, which suggests profits were backed by cash rather than tied up in working capital. With cash exceeding total liabilities at $70.3M versus $55.2M, vessel investment looked funded internally rather than by adding new balance-sheet strain.

Financial Health Signals

Financial Profile 49/100

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 Performance 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.

Profitability

100

Performance Shipping Inc has an operating margin of 61.7%, meaning the company retains $62 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 up from 47.8% the prior year.

Growth

Performance Shipping Inc's revenue declined 3.7% year-over-year, from $87.4M to $84.2M. This contraction results in a growth score of 13/100.

Leverage

Performance Shipping Inc carries a low D/E ratio of 0.73, meaning only $0.73 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Performance Shipping Inc's current ratio of 2.22 indicates adequate short-term liquidity, earning a score of 41/100. The company can meet its near-term obligations, though with limited headroom.

Returns

Performance Shipping Inc's ROE of 15.4% shows moderate profitability relative to equity, earning a score of 52/100. This is down from 15.9% the prior year.

Altman Z-Score Distress

0.05

Performance Shipping Inc scores 0.05, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($21.3M) relative to total liabilities ($236.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

4/9

Performance 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

1.00x

For every $1 of reported earnings, Performance Shipping Inc generates $1.00 in operating cash flow ($50.1M OCF vs $50.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

7.6x

Performance Shipping Inc earns $7.6 in operating income for every $1 of interest expense ($51.9M vs $6.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$84.2M

YoY-3.7%

5Y CAGR+14.9%

10Y CAGR+1.8%

Performance Shipping Inc generated $84.2M in revenue in fiscal year 2025. This represents a decrease of 3.7% from the prior year.

EBITDA

$67.0M

YoY+21.5%

5Y CAGR+45.8%

10Y CAGR+38.0%

Performance Shipping Inc's EBITDA was $67.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 21.5% from the prior year.

Net Income

$50.0M

YoY+14.3%

5Y CAGR+67.6%

Performance Shipping Inc reported $50.0M in net income in fiscal year 2025. This represents an increase of 14.3% from the prior year.

EPS (Diluted)

$1.28

YoY+15.3%

5Y CAGR-39.5%

Performance Shipping Inc earned $1.28 per diluted share (EPS) in fiscal year 2025. This represents an increase of 15.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$48.2M

YoY-31.5%

5Y CAGR+17.7%

10Y CAGR+5.1%

Performance Shipping Inc held $48.2M in cash against $127.2M in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.00

5Y CAGR-7.8%

Performance Shipping Inc paid $1.00 per share in dividends in fiscal year 2025.

Shares Outstanding

12M

YoY+0.0%

5Y CAGR+19.6%

Performance Shipping Inc had 12M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

61.7%

YoY+13.9pp

5Y CAGR+51.5pp

10Y CAGR+76.5pp

Performance Shipping Inc's operating margin was 61.7% in fiscal year 2025, reflecting core business profitability. This is up 13.9 percentage points from the prior year.

Net Margin

59.4%

YoY+9.4pp

5Y CAGR+50.4pp

10Y CAGR+84.2pp

Performance Shipping Inc's net profit margin was 59.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 9.4 percentage points from the prior year.

Return on Equity

15.4%

YoY-0.4pp

5Y CAGR+11.5pp

10Y CAGR+22.8pp

Performance Shipping Inc's ROE was 15.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

Performance Shipping Inc spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

N/A

PSHG Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$84.2M-3.7%	$87.4M-19.7%	$108.9M+44.9%	$75.2M+106.0%	$36.5M-13.2%	$42.0M
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	$9.7M+16.8%	$8.3M+3.3%	$8.0M+19.1%	$6.8M+16.8%	$5.8M-27.6%	$8.0M
Operating Income	$51.9M+24.2%	$41.8M-44.6%	$75.5M+88.9%	$40.0M+572.6%	-$8.5M-297.9%	$4.3M
Interest Expense	$6.8M+405.1%	$1.3M-86.0%	$9.6M+142.0%	$4.0M+120.2%	$1.8M-13.8%	$2.1M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$50.0M+14.3%	$43.7M-37.0%	$69.4M+91.2%	$36.3M+474.0%	-$9.7M-357.0%	$3.8M
EPS (Diluted)	$1.28+15.3%	$1.11-41.9%	$1.91-36.8%	$3.02+110.4%	$-28.97-284.1%	$15.74

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
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

PSHG Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$559.9M+69.5%	$330.4M+11.5%	$296.3M+1.1%	$293.0M+102.2%	$144.9M-8.2%	$157.9M
Current Assets	$58.0M-26.2%	$78.7M-1.6%	$79.9M+49.5%	$53.5M+175.2%	$19.4M-31.7%	$28.4M
Cash & Equivalents	$48.2M-31.5%	$70.3M+4.5%	$67.3M+73.7%	$38.7M+304.5%	$9.6M-55.2%	$21.4M
Inventory	$949K+72.9%	$549K-75.1%	$2.2M-27.5%	$3.0M-29.1%	$4.3M+116.4%	$2.0M
Accounts Receivable	$6.3M+8.3%	$5.8M-29.8%	$8.3M-9.1%	$9.1M+140.2%	$3.8M+8.3%	$3.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$236.4M+328.7%	$55.1M-12.6%	$63.1M-54.0%	$137.3M+138.4%	$57.6M-5.7%	$61.1M
Current Liabilities	$26.2M+76.2%	$14.9M-3.1%	$15.3M-41.2%	$26.1M+71.9%	$15.2M+40.4%	$10.8M
Long-Term Debt	$127.2M+168.0%	$47.5M-13.5%	$54.9M-57.0%	$127.7M+155.9%	$49.9M0.0%	$49.9M
Total Equity	$323.4M+17.5%	$275.2M+18.0%	$233.2M+49.8%	$155.7M+78.3%	$87.3M-9.8%	$96.8M
Retained Earnings	-$211.1M+18.6%	-$259.2M+13.9%	-$301.1M+15.9%	-$358.0M+3.3%	-$370.1M-2.7%	-$360.4M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$559.9M+53.9%	$363.8M+10.1%	$330.4M+6.4%	$310.5M+4.8%	$296.3M-9.0%	$325.6M+11.1%	$293.0M+90.8%	$153.5M
Current Assets	$58.0M-43.3%	$102.2M+30.0%	$78.7M+15.6%	$68.0M-14.8%	$79.9M-1.8%	$81.4M+52.2%	$53.5M+90.2%	$28.1M
Cash & Equivalents	$48.2M-49.7%	$95.8M+36.2%	$70.3M+13.9%	$61.7M-8.2%	$67.3M-3.5%	$69.7M+80.1%	$38.7M+191.9%	$13.3M
Inventory	$949K+38.3%	$686K+25.0%	$549K-8.8%	$602K-72.7%	$2.2M+210.3%	$710K-76.6%	$3.0M+34.7%	$2.3M
Accounts Receivable	$6.3M+76.3%	$3.6M-38.6%	$5.8M+42.4%	$4.1M-50.7%	$8.3M-8.5%	$9.0M-0.7%	$9.1M+10.5%	$8.2M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$236.4M+363.8%	$51.0M-7.6%	$55.1M-2.2%	$56.4M-10.6%	$63.1M-50.2%	$126.6M-7.8%	$137.3M+145.9%	$55.8M
Current Liabilities	$26.2M+89.5%	$13.8M-7.0%	$14.9M+22.6%	$12.1M-21.0%	$15.3M-31.7%	$22.5M-13.9%	$26.1M+50.3%	$17.4M
Long-Term Debt	N/A	$43.7M-7.8%	$47.5M-7.3%	$51.2M-6.8%	$54.9M-54.0%	$119.3M-6.6%	$127.7M+177.5%	$46.0M
Total Equity	$323.4M+3.4%	$312.8M+13.7%	$275.2M+8.3%	$254.0M+8.9%	$233.2M+17.2%	$199.0M+27.8%	$155.7M+59.4%	$97.7M
Retained Earnings	-$211.1M+4.8%	-$221.6M+14.5%	-$259.2M+7.6%	-$280.4M+6.9%	-$301.1M+10.3%	-$335.5M+6.3%	-$358.0M+5.2%	-$377.6M

PSHG Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$50.1M-16.4%	$59.9M-11.9%	$68.0M+100.8%	$33.8M+1183.8%	-$3.1M-123.7%	$13.2M
Capital Expenditures	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
Investing Cash Flow	-$244.6M-415.8%	-$47.4M-284.3%	$25.7M+122.8%	-$113.0M-14568.8%	-$770K+98.1%	-$40.1M
Financing Cash Flow	$172.5M+1928.1%	-$9.4M+85.5%	-$65.1M-159.6%	$109.3M+1481.1%	-$7.9M-136.0%	$22.0M
Dividends Paid	N/A	N/A	$0	$0	$0-100.0%	$502K
Share Buybacks	$0	$0-100.0%	$2.7M	$0	$0-100.0%	$656K

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
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

PSHG 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	61.7%+13.9pp	47.8%-21.5pp	69.3%+16.1pp	53.2%+76.4pp	-23.2%-33.4pp	10.2%
Net Margin	59.4%+9.4pp	50.0%-13.7pp	63.7%+15.4pp	48.3%+74.9pp	-26.6%-35.6pp	9.0%
Return on Equity	15.4%-0.4pp	15.9%-13.9pp	29.8%+6.5pp	23.3%+34.4pp	-11.1%-15.0pp	3.9%
Return on Assets	8.9%-4.3pp	13.2%-10.2pp	23.4%+11.0pp	12.4%+19.1pp	-6.7%-9.1pp	2.4%
Current Ratio	2.22-3.1	5.29+0.1	5.21+3.2	2.05+0.8	1.28-1.3	2.63
Debt-to-Equity	0.73+0.6	0.17-0.1	0.24-0.6	0.82+0.2	0.57+0.1	0.52
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
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	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	2.22-5.2	7.40+2.1	5.29-0.3	5.61+0.4	5.21+1.6	3.62+1.6	2.05+0.4	1.62
Debt-to-Equity	0.73+0.6	0.14-0.0	0.17-0.0	0.20-0.0	0.24-0.4	0.60-0.2	0.82+0.3	0.47
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 Performance Shipping Inc's annual revenue?

Performance Shipping Inc (PSHG) reported $84.2M in total revenue for fiscal year 2025. This represents a -3.7% 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 Performance Shipping Inc's revenue growing?

Performance Shipping Inc (PSHG) revenue declined by 3.7% year-over-year, from $87.4M to $84.2M in fiscal year 2025.

Is Performance Shipping Inc profitable?

Yes, Performance Shipping Inc (PSHG) reported a net income of $50.0M in fiscal year 2025, with a net profit margin of 59.4%.

What is Performance Shipping Inc's EBITDA?

Performance Shipping Inc (PSHG) had EBITDA of $67.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Performance Shipping Inc have?

As of fiscal year 2025, Performance Shipping Inc (PSHG) had $48.2M in cash and equivalents against $127.2M in long-term debt.

What is Performance Shipping Inc's operating margin?

Performance Shipping Inc (PSHG) had an operating margin of 61.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Performance Shipping Inc's net profit margin?

Performance Shipping Inc (PSHG) had a net profit margin of 59.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Performance Shipping Inc pay dividends?

Yes, Performance Shipping Inc (PSHG) paid $1.00 per share in dividends during fiscal year 2025.

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

Performance Shipping Inc (PSHG) has a return on equity of 15.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Performance Shipping Inc's operating cash flow?

Performance Shipping Inc (PSHG) generated $50.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Performance Shipping Inc's total assets?

Performance Shipping Inc (PSHG) had $559.9M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Performance Shipping Inc have outstanding?

Performance Shipping Inc (PSHG) had 12M shares outstanding as of fiscal year 2025.

What is Performance Shipping Inc's current ratio?

Performance Shipping Inc (PSHG) had a current ratio of 2.22 as of fiscal year 2025, which is generally considered healthy.

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

Performance Shipping Inc (PSHG) had a debt-to-equity ratio of 0.73 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

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

Performance Shipping Inc (PSHG) had a return on assets of 8.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

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

Performance Shipping Inc (PSHG) has an Altman Z-Score of 0.05, 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 Performance Shipping Inc's Piotroski F-Score?

Performance Shipping Inc (PSHG) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Performance Shipping Inc's earnings high quality?

Performance Shipping Inc (PSHG) has an earnings quality ratio of 1.00x, 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 Performance Shipping Inc cover its interest payments?

Performance Shipping Inc (PSHG) has an interest coverage ratio of 7.6x, meaning it can comfortably 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 Performance Shipping Inc?

Performance Shipping Inc (PSHG) scores 49 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.