Seanergy Maritime Hldgs Corp Financials

SHIP

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

This page shows Seanergy Maritime Hldgs Corp (SHIP) 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 62/100

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

Profitability

100

Seanergy Maritime Hldgs Corp has an operating margin of 37.4%, meaning the company retains $37 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 19.4% the prior year.

Growth

100

Seanergy Maritime Hldgs Corp's revenue surged 51.9% year-over-year to $167.5M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Seanergy Maritime Hldgs Corp carries a low D/E ratio of 0.84, meaning only $0.84 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 80/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Seanergy Maritime Hldgs Corp's current ratio of 0.74 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 10/100, which could limit financial flexibility.

Cash Flow

While Seanergy Maritime Hldgs Corp generated $75.3M in operating cash flow, capex of $70.7M consumed most of it, leaving $4.6M in free cash flow. This results in a low score of 14/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Seanergy Maritime Hldgs Corp earns a strong 16.6% return on equity (ROE), meaning it generates $17 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 66/100. This is up from 1.0% the prior year.

Altman Z-Score Distress

0.31

Seanergy Maritime Hldgs Corp scores 0.31, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($243.0M) relative to total liabilities ($283.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

6/9

Seanergy Maritime Hldgs Corp passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.73x

For every $1 of reported earnings, Seanergy Maritime Hldgs Corp generates $1.73 in operating cash flow ($75.3M OCF vs $43.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

3.0x

Seanergy Maritime Hldgs Corp earns $3.0 in operating income for every $1 of interest expense ($62.6M vs $20.6M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

Export CSV

Revenue

$167.5M

YoY+51.9%

5Y CAGR+14.1%

10Y CAGR+55.1%

Seanergy Maritime Hldgs Corp generated $167.5M in revenue in fiscal year 2024. This represents an increase of 51.9% from the prior year.

EBITDA

N/A

Free Cash Flow

$4.6M

YoY-85.1%

5Y CAGR+43.6%

Seanergy Maritime Hldgs Corp generated $4.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 85.1% from the prior year.

Net Income

$43.5M

YoY+1805.0%

10Y CAGR-6.0%

Seanergy Maritime Hldgs Corp reported $43.5M in net income in fiscal year 2024. This represents an increase of 1805.0% from the prior year.

EPS (Diluted)

$2.11

YoY+1658.3%

Seanergy Maritime Hldgs Corp earned $2.11 per diluted share (EPS) in fiscal year 2024. This represents an increase of 1658.3% from the prior year.

Cash & Debt

$21.9M

YoY+12.8%

5Y CAGR+9.9%

10Y CAGR+22.5%

Seanergy Maritime Hldgs Corp held $21.9M in cash against $220.2M in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.76

YoY+660.0%

Seanergy Maritime Hldgs Corp paid $0.76 per share in dividends in fiscal year 2024. This represents an increase of 660.0% from the prior year.

Shares Outstanding

20M

YoY+3.8%

Seanergy Maritime Hldgs Corp had 20M shares outstanding in fiscal year 2024. This represents an increase of 3.8% from the prior year.

Gross Margin

N/A

Operating Margin

37.4%

YoY+18.0pp

5Y CAGR+23.4pp

10Y CAGR-3905.3pp

Seanergy Maritime Hldgs Corp's operating margin was 37.4% in fiscal year 2024, reflecting core business profitability. This is up 18.0 percentage points from the prior year.

Net Margin

26.0%

YoY+23.9pp

5Y CAGR+39.5pp

10Y CAGR-3846.2pp

Seanergy Maritime Hldgs Corp's net profit margin was 26.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 23.9 percentage points from the prior year.

Return on Equity

16.6%

YoY+15.6pp

10Y CAGR-2986.0pp

Seanergy Maritime Hldgs Corp's ROE was 16.6% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 15.6 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$4.8M

YoY+188.9%

Seanergy Maritime Hldgs Corp spent $4.8M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 188.9% from the prior year.

Capital Expenditures

$70.7M

YoY+22400.3%

5Y CAGR+41.7%

Seanergy Maritime Hldgs Corp invested $70.7M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 22400.3% from the prior year.

SHIP Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$167.5M+51.9%	$110.2M-11.8%	$125.0M-18.3%	$153.1M+141.7%	$63.3M-26.8%	$86.5M
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	$24.0M+8.2%	$22.1M+27.2%	$17.4M+26.7%	$13.7M+107.9%	$6.6M+10.3%	$6.0M
Operating Income	$62.6M+193.1%	$21.3M-28.1%	$29.7M-55.0%	$65.9M+24693.3%	-$268K-102.2%	$12.0M
Interest Expense	$20.6M-0.4%	$20.7M+35.0%	$15.3M-13.8%	$17.8M+44.1%	$12.3M-18.9%	$15.2M
Income Tax	$0	$0+100.0%	-$28K	$0	$0-100.0%	$54K
Net Income	$43.5M+1805.0%	$2.3M-86.8%	$17.2M-58.3%	$41.3M+325.3%	-$18.4M-56.9%	-$11.7M
EPS (Diluted)	$2.11+1658.3%	$0.12-87.5%	$0.96-61.6%	$2.50	$-5.49+55.0%	$-12.21

Metric	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
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

SHIP Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$545.9M+14.2%	$477.9M-7.0%	$513.6M+5.4%	$487.2M+65.0%	$295.2M+4.5%	$282.6M
Current Assets	$45.9M+83.0%	$25.1M-59.3%	$61.6M+30.7%	$47.2M+54.4%	$30.5M+39.3%	$21.9M
Cash & Equivalents	$21.9M+12.8%	$19.4M-25.5%	$26.0M-37.3%	$41.5M+97.5%	$21.0M+53.9%	$13.7M
Inventory	$1.7M+8.6%	$1.6M-21.9%	$2.0M+37.8%	$1.4M-68.9%	$4.7M+20.4%	$3.9M
Accounts Receivable	$404K-54.9%	$896K+24.4%	$720K	$0-100.0%	$801K-54.6%	$1.8M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$283.7M+13.7%	$249.4M-14.5%	$291.9M+20.3%	$242.7M+21.6%	$199.6M-21.0%	$252.7M
Current Liabilities	$61.6M-11.4%	$69.5M-26.6%	$94.7M+7.5%	$88.0M+186.2%	$30.8M-87.0%	$237.3M
Long-Term Debt	$220.2M+23.0%	$179.0M-9.1%	$196.8M+34.2%	$146.7M-13.6%	$169.8M-7.3%	$183.1M
Total Equity	$262.2M+14.8%	$228.4M+3.0%	$221.7M-9.3%	$244.5M+155.5%	$95.7M+220.5%	$29.9M
Retained Earnings	-$333.8M+7.7%	-$361.7M+0.1%	-$362.0M-2.5%	-$353.2M+10.5%	-$394.6M-4.9%	-$376.2M

Metric	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
Total Assets	$597.6M+9.5%	$545.9M+4.0%	$525.0M+9.9%	$477.9M+2.4%	$466.8M-9.1%	$513.6M-1.0%	$518.9M+6.5%	$487.2M
Current Assets	$36.7M-20.1%	$45.9M-2.2%	$47.0M+87.2%	$25.1M-3.3%	$25.9M-57.9%	$61.6M+47.7%	$41.7M-11.5%	$47.2M
Cash & Equivalents	$12.8M-41.3%	$21.9M-33.1%	$32.7M+68.6%	$19.4M+14.6%	$16.9M-35.1%	$26.0M-29.1%	$36.7M-11.5%	$41.5M
Inventory	$1.8M+3.4%	$1.7M-28.1%	$2.4M+51.0%	$1.6M+9.2%	$1.4M-28.4%	$2.0M+11.2%	$1.8M+23.9%	$1.4M
Accounts Receivable	$972K+140.6%	$404K-44.6%	$729K-18.6%	$896K+43.4%	$625K-13.2%	$720K-60.1%	$1.8M	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$339.8M+19.8%	$283.7M+5.0%	$270.3M+8.4%	$249.4M+1.4%	$245.9M-15.8%	$291.9M+2.3%	$285.3M+17.5%	$242.7M
Current Liabilities	$94.5M+53.4%	$61.6M-27.5%	$85.0M+22.3%	$69.5M+36.7%	$50.8M-46.3%	$94.7M+2.3%	$92.5M+5.1%	$88.0M
Long-Term Debt	$223.8M+1.6%	$220.2M+20.7%	$182.4M+1.9%	$179.0M-8.1%	$194.7M-1.1%	$196.8M-20.4%	$247.4M+68.6%	$146.7M
Total Equity	$257.7M-1.7%	$262.2M+2.9%	$254.7M+11.5%	$228.4M+3.4%	$220.9M-0.4%	$221.7M-5.1%	$233.7M-4.4%	$244.5M
Retained Earnings	-$340.9M-2.1%	-$333.8M+2.6%	-$342.5M+5.3%	-$361.7M+1.3%	-$366.5M-1.2%	-$362.0M-4.4%	-$346.8M+1.8%	-$353.2M

SHIP Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$75.3M+140.3%	$31.3M-16.0%	$37.3M-53.8%	$80.8M+929.6%	-$9.7M-174.3%	$13.1M
Capital Expenditures	$70.7M+22400.3%	$314K-99.6%	$70.3M-64.3%	$197.2M+876.8%	$20.2M+63.5%	$12.3M
Free Cash Flow	$4.6M-85.1%	$31.0M+193.9%	-$33.0M+71.6%	-$116.5M-289.2%	-$29.9M-4042.6%	$759K
Investing Cash Flow	-$79.4M-547.3%	$17.7M+131.5%	-$56.3M+69.5%	-$184.6M-744.4%	-$21.9M-77.1%	-$12.3M
Financing Cash Flow	$14.1M+124.9%	-$56.6M-1071.5%	$5.8M-95.4%	$127.4M+226.0%	$39.1M+515.6%	$6.4M
Dividends Paid	$10.8M+78.2%	$6.0M-66.4%	$17.9M	$0	$0	N/A
Share Buybacks	$4.8M+188.9%	$1.7M	$0-100.0%	$1.7M	$0	$0

Metric	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
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

SHIP Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	37.4%+18.0pp	19.4%-4.4pp	23.7%-19.3pp	43.0%+43.5pp	-0.4%-14.3pp	13.9%
Net Margin	26.0%+23.9pp	2.1%-11.7pp	13.8%-13.2pp	27.0%+56.0pp	-29.0%-15.5pp	-13.5%
Return on Equity	16.6%+15.6pp	1.0%-6.8pp	7.8%-9.1pp	16.9%	N/A	N/A
Return on Assets	8.0%+7.5pp	0.5%-2.9pp	3.4%-5.1pp	8.5%+14.7pp	-6.2%-2.1pp	-4.1%
Current Ratio	0.74+0.4	0.36-0.3	0.65+0.1	0.54-0.5	0.99+0.9	0.09
Debt-to-Equity	0.84+0.1	0.78-0.1	0.89+0.3	0.60-1.2	1.77-4.4	6.13
FCF Margin	2.8%-25.4pp	28.1%+54.5pp	-26.4%+49.6pp	-76.1%-28.8pp	-47.2%-48.1pp	0.9%

Metric	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
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	0.39-0.4	0.74+0.2	0.55+0.2	0.36-0.1	0.51-0.1	0.65+0.2	0.45-0.1	0.54
Debt-to-Equity	0.87+0.0	0.84+0.1	0.72-0.1	0.78-0.1	0.880.0	0.89-0.2	1.06+0.5	0.60
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.74), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Seanergy Maritime Hldgs Corp's annual revenue?

Seanergy Maritime Hldgs Corp (SHIP) reported $167.5M in total revenue for fiscal year 2024. This represents a 51.9% 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 Seanergy Maritime Hldgs Corp's revenue growing?

Seanergy Maritime Hldgs Corp (SHIP) revenue grew by 51.9% year-over-year, from $110.2M to $167.5M in fiscal year 2024.

Is Seanergy Maritime Hldgs Corp profitable?

Yes, Seanergy Maritime Hldgs Corp (SHIP) reported a net income of $43.5M in fiscal year 2024, with a net profit margin of 26.0%.

What is Seanergy Maritime Hldgs Corp's earnings per share (EPS)?

Seanergy Maritime Hldgs Corp (SHIP) reported diluted earnings per share of $2.11 for fiscal year 2024. This represents a 1658.3% 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.

How much debt does Seanergy Maritime Hldgs Corp have?

As of fiscal year 2024, Seanergy Maritime Hldgs Corp (SHIP) had $21.9M in cash and equivalents against $220.2M in long-term debt.

What is Seanergy Maritime Hldgs Corp's operating margin?

Seanergy Maritime Hldgs Corp (SHIP) had an operating margin of 37.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Seanergy Maritime Hldgs Corp's net profit margin?

Seanergy Maritime Hldgs Corp (SHIP) had a net profit margin of 26.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Seanergy Maritime Hldgs Corp pay dividends?

Yes, Seanergy Maritime Hldgs Corp (SHIP) paid $0.76 per share in dividends during fiscal year 2024.

What is Seanergy Maritime Hldgs Corp's return on equity (ROE)?

Seanergy Maritime Hldgs Corp (SHIP) has a return on equity of 16.6% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Seanergy Maritime Hldgs Corp's free cash flow?

Seanergy Maritime Hldgs Corp (SHIP) generated $4.6M in free cash flow during fiscal year 2024. This represents a -85.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Seanergy Maritime Hldgs Corp's operating cash flow?

Seanergy Maritime Hldgs Corp (SHIP) generated $75.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Seanergy Maritime Hldgs Corp's total assets?

Seanergy Maritime Hldgs Corp (SHIP) had $545.9M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Seanergy Maritime Hldgs Corp's capital expenditures?

Seanergy Maritime Hldgs Corp (SHIP) invested $70.7M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Seanergy Maritime Hldgs Corp buy back shares?

Yes, Seanergy Maritime Hldgs Corp (SHIP) spent $4.8M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Seanergy Maritime Hldgs Corp have outstanding?

Seanergy Maritime Hldgs Corp (SHIP) had 20M shares outstanding as of fiscal year 2024.

What is Seanergy Maritime Hldgs Corp's current ratio?

Seanergy Maritime Hldgs Corp (SHIP) had a current ratio of 0.74 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Seanergy Maritime Hldgs Corp's debt-to-equity ratio?

Seanergy Maritime Hldgs Corp (SHIP) had a debt-to-equity ratio of 0.84 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Seanergy Maritime Hldgs Corp's return on assets (ROA)?

Seanergy Maritime Hldgs Corp (SHIP) had a return on assets of 8.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Seanergy Maritime Hldgs Corp's Altman Z-Score?

Seanergy Maritime Hldgs Corp (SHIP) has an Altman Z-Score of 0.31, 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 Seanergy Maritime Hldgs Corp's Piotroski F-Score?

Seanergy Maritime Hldgs Corp (SHIP) 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 Seanergy Maritime Hldgs Corp's earnings high quality?

Seanergy Maritime Hldgs Corp (SHIP) has an earnings quality ratio of 1.73x, 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 Seanergy Maritime Hldgs Corp cover its interest payments?

Seanergy Maritime Hldgs Corp (SHIP) has an interest coverage ratio of 3.0x, meaning it can adequately 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 Seanergy Maritime Hldgs Corp?

Seanergy Maritime Hldgs Corp (SHIP) scores 62 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.