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Seanergy Maritime Hldgs Corp Financials

SHIP
Source SEC Filings (10-K/10-Q) Data as of Dec 31, 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 17 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 SHIP FY2025

Cash generation is shaped less by revenue swings than by a capital-heavy reinvestment cycle and debt service.

Free cash flow improved from $4.6M in FY2024 to $17.0M in FY2025 even as net income was cut roughly in half. The reason is capex timing: capital spending fell from $70.7M to $35.6M, showing that cash available to owners is driven not just by earnings but by when large asset renewals happen.

FY2025 still produced a 27.4% operating margin after FY2024's elevated 37.4%, so the core economics remained profitable in a less favorable year. But interest expense of $21.7M against net income of $21.2M shows that lenders captured almost the entire bottom line.

The liquidity cushion improved since FY2023, with cash rising from $19.4M to $48.2M, which reduces immediate funding pressure. Even so, current liabilities of $88.1M still exceed current assets of $74.9M, so short-term flexibility depends more on ongoing cash generation than on a large working-capital reserve.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 61 / 100
Financial Health Score 61/100

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 Seanergy Maritime Hldgs Corp'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
87

Seanergy Maritime Hldgs Corp has an operating margin of 27.4%, meaning the company retains $27 of operating profit per $100 of revenue. This strong profitability earns a score of 87/100, reflecting efficient cost management and pricing power. This is down from 37.4% the prior year.

Growth
81

Seanergy Maritime Hldgs Corp's revenue declined 5.6% year-over-year, from $167.5M to $158.1M. This contraction results in a growth score of 81/100.

Leverage
50

Seanergy Maritime Hldgs Corp has a moderate D/E ratio of 0.84. This balance of debt and equity financing earns a leverage score of 50/100.

Liquidity
13

Seanergy Maritime Hldgs Corp's current ratio of 0.85 is below the typical benchmark, resulting in a score of 13/100. However, the company holds substantial cash reserves (55% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Cash Flow
72

Seanergy Maritime Hldgs Corp converts 10.8% of revenue into free cash flow ($17.0M). This strong cash generation earns a score of 72/100.

Returns
63

Seanergy Maritime Hldgs Corp's ROE of 7.5% shows moderate profitability relative to equity, earning a score of 63/100. This is down from 16.6% the prior year.

Altman Z-Score Distress
0.38

Seanergy Maritime Hldgs Corp scores 0.38, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($350.6M) relative to total liabilities ($325.2M). 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.

Piotroski F-Score Partial
5/8

Seanergy Maritime Hldgs Corp passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
2.48x

For every $1 of reported earnings, Seanergy Maritime Hldgs Corp generates $2.48 in operating cash flow ($52.6M OCF vs $21.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk
2.0x

Seanergy Maritime Hldgs Corp earns $2.0 in operating income for every $1 of interest expense ($43.3M vs $21.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$158.1M
YoY-5.6%
5Y CAGR+20.1%
10Y CAGR+29.8%

Seanergy Maritime Hldgs Corp generated $158.1M in revenue in fiscal year 2025. This represents a decrease of 5.6% from the prior year.

EBITDA
N/A
Net Income
$21.2M
YoY-51.1%

Seanergy Maritime Hldgs Corp reported $21.2M in net income in fiscal year 2025. This represents a decrease of 51.1% from the prior year.

EPS (Diluted)
$1.01
YoY-52.1%

Seanergy Maritime Hldgs Corp earned $1.01 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 52.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$17.0M
YoY+267.8%

Seanergy Maritime Hldgs Corp generated $17.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 267.8% from the prior year.

Cash & Debt
$48.2M
YoY+120.6%
5Y CAGR+18.1%
10Y CAGR+30.7%

Seanergy Maritime Hldgs Corp held $48.2M in cash against $235.2M in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.33
YoY-56.6%

Seanergy Maritime Hldgs Corp paid $0.33 per share in dividends in fiscal year 2025. This represents a decrease of 56.6% from the prior year.

Shares Outstanding
21M
YoY+3.6%

Seanergy Maritime Hldgs Corp had 21M shares outstanding in fiscal year 2025. This represents an increase of 3.6% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
27.4%
YoY-10.0pp
5Y CAGR+27.8pp
10Y CAGR+87.9pp

Seanergy Maritime Hldgs Corp's operating margin was 27.4% in fiscal year 2025, reflecting core business profitability. This is down 10.0 percentage points from the prior year.

Net Margin
13.4%
YoY-12.5pp
5Y CAGR+42.4pp
10Y CAGR+90.2pp

Seanergy Maritime Hldgs Corp's net profit margin was 13.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 12.5 percentage points from the prior year.

Return on Equity
7.5%
YoY-9.0pp
5Y CAGR+26.7pp
10Y CAGR+46.0pp

Seanergy Maritime Hldgs Corp's ROE was 7.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 9.0 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$0
YoY-100.0%

Seanergy Maritime Hldgs Corp spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures
$35.6M
YoY-49.6%
5Y CAGR+12.0%
10Y CAGR-15.9%

Seanergy Maritime Hldgs Corp invested $35.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 49.6% from the prior year.

SHIP Income Statement

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

SHIP Balance Sheet

Metric Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q2'23 Q4'22 Q2'22
Total Assets $606.6M+1.5% $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
Current Assets $74.9M+104.3% $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
Cash & Equivalents $48.2M+275.6% $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
Inventory $1.6M-6.7% $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
Accounts Receivable $871K-10.4% $972K+140.6% $404K-44.6% $729K-18.6% $896K+43.4% $625K-13.2% $720K-60.1% $1.8M
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $325.2M-4.3% $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
Current Liabilities $88.1M-6.8% $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
Long-Term Debt $235.2M+5.1% $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
Total Equity $281.4M+9.2% $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
Retained Earnings -$319.5M+6.3% -$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

SHIP Cash Flow Statement

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

SHIP Financial Ratios

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 0.85+0.5 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
Debt-to-Equity 0.84-0.0 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
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 (0.85), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Seanergy Maritime Hldgs Corp (SHIP) reported $158.1M in total revenue for fiscal year 2025. This represents a -5.6% 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.

Seanergy Maritime Hldgs Corp (SHIP) revenue declined by 5.6% year-over-year, from $167.5M to $158.1M in fiscal year 2025.

Yes, Seanergy Maritime Hldgs Corp (SHIP) reported a net income of $21.2M in fiscal year 2025, with a net profit margin of 13.4%.

Seanergy Maritime Hldgs Corp (SHIP) reported diluted earnings per share of $1.01 for fiscal year 2025. This represents a -52.1% 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.

As of fiscal year 2025, Seanergy Maritime Hldgs Corp (SHIP) had $48.2M in cash and equivalents against $235.2M in long-term debt.

Seanergy Maritime Hldgs Corp (SHIP) had an operating margin of 27.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Seanergy Maritime Hldgs Corp (SHIP) had a net profit margin of 13.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Seanergy Maritime Hldgs Corp (SHIP) paid $0.33 per share in dividends during fiscal year 2025.

Seanergy Maritime Hldgs Corp (SHIP) has a return on equity of 7.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Seanergy Maritime Hldgs Corp (SHIP) generated $17.0M in free cash flow during fiscal year 2025. This represents a 267.8% 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.

Seanergy Maritime Hldgs Corp (SHIP) generated $52.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Seanergy Maritime Hldgs Corp (SHIP) had $606.6M in total assets as of fiscal year 2025, including both current and long-term assets.

Seanergy Maritime Hldgs Corp (SHIP) invested $35.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Seanergy Maritime Hldgs Corp (SHIP) had 21M shares outstanding as of fiscal year 2025.

Seanergy Maritime Hldgs Corp (SHIP) had a current ratio of 0.85 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Seanergy Maritime Hldgs Corp (SHIP) had a debt-to-equity ratio of 0.84 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Seanergy Maritime Hldgs Corp (SHIP) had a return on assets of 3.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Seanergy Maritime Hldgs Corp (SHIP) has an Altman Z-Score of 0.38, 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.

Seanergy Maritime Hldgs Corp (SHIP) has a Piotroski F-Score of 5 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.

Seanergy Maritime Hldgs Corp (SHIP) has an earnings quality ratio of 2.48x, 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.

Seanergy Maritime Hldgs Corp (SHIP) has an interest coverage ratio of 2.0x, 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.

Seanergy Maritime Hldgs Corp (SHIP) scores 61 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.

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