United Maritime Corporation Financials
This page shows United Maritime Corporation (USEA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
United Maritime Corporation has an operating margin of 10.6%, meaning the company retains $11 of operating profit per $100 of revenue. This results in a moderate score of 46/100, indicating healthy but not exceptional operating efficiency. This is down from 19.6% the prior year.
United Maritime Corporation's revenue surged 26.0% year-over-year to $45.4M, reflecting rapid business expansion. This strong growth earns a score of 77/100.
United Maritime Corporation carries a low D/E ratio of 1.02, meaning only $1.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 81/100, indicating a strong balance sheet with room for future borrowing.
United Maritime Corporation's current ratio of 0.73 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 9/100, which could limit financial flexibility.
United Maritime Corporation has a free cash flow margin of 6.6%, earning a moderate score of 42/100. The company generates positive cash flow after capital investments, but with room for improvement.
United Maritime Corporation generates a -5.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 0.3% the prior year.
United Maritime Corporation scores 0.56, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
United Maritime Corporation passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, United Maritime Corporation generates $-0.96 in operating cash flow ($3.3M OCF vs -$3.4M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
United Maritime Corporation earns $0.6 in operating income for every $1 of interest expense ($4.8M vs $8.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
United Maritime Corporation generated $45.4M in revenue in fiscal year 2024. This represents an increase of 26.0% from the prior year.
United Maritime Corporation's EBITDA was $14.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 10.1% from the prior year.
United Maritime Corporation reported -$3.4M in net income in fiscal year 2024. This represents a decrease of 1630.8% from the prior year.
United Maritime Corporation earned $-0.39 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 2050.0% from the prior year.
Cash & Balance Sheet
United Maritime Corporation generated $3.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 103.4% from the prior year.
United Maritime Corporation held $6.4M in cash against $61.1M in long-term debt as of fiscal year 2024.
United Maritime Corporation had 9M shares outstanding in fiscal year 2024. This represents an increase of 1.7% from the prior year.
Margins & Returns
United Maritime Corporation's operating margin was 10.6% in fiscal year 2024, reflecting core business profitability. This is down 9.0 percentage points from the prior year.
United Maritime Corporation's net profit margin was -7.4% in fiscal year 2024, showing the share of revenue converted to profit. This is down 8.1 percentage points from the prior year.
United Maritime Corporation's ROE was -5.6% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 6.0 percentage points from the prior year.
Capital Allocation
United Maritime Corporation spent $469K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 30.3% from the prior year.
United Maritime Corporation invested $249K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 99.7% from the prior year.
USEA Income Statement
| Metric | Q3'25 | Q2'25 | Q4'24 | Q3'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| 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 |
USEA Balance Sheet
| Metric | Q3'25 | Q2'25 | Q4'24 | Q3'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $144.2M-10.5% | $161.1M-6.4% | $172.1M | N/A | $171.4M-1.9% | $174.8M+13.8% | $153.6M+22.2% | $125.7M |
| Current Assets | $24.6M+1.6% | $24.2M-1.0% | $24.5M | N/A | $30.4M+59.3% | $19.1M-44.4% | $34.3M-42.6% | $59.8M |
| Cash & Equivalents | $19.7M+547.0% | $3.0M-52.5% | $6.4M-43.8% | $11.4M+62.2% | $7.0M-49.0% | $13.8M+109.7% | $6.6M-88.0% | $54.7M |
| Inventory | $395K-68.5% | $1.3M+92.8% | $650K | N/A | $610K-8.1% | $664K-49.4% | $1.3M+1125.2% | $107K |
| Accounts Receivable | $2.7M+104.2% | $1.3M-9.6% | $1.4M | N/A | $1.5M+490.9% | $252K-54.3% | $551K-29.3% | $779K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $83.1M-17.5% | $100.8M-10.0% | $112.0M | N/A | $107.2M-1.6% | $108.9M+15.4% | $94.4M+54.5% | $61.1M |
| Current Liabilities | $40.0M-19.6% | $49.8M+48.5% | $33.5M | N/A | $65.0M+22.4% | $53.1M-12.3% | $60.5M+140.1% | $25.2M |
| Long-Term Debt | $43.1M-14.7% | $50.5M-17.3% | $61.1M | N/A | $42.2M-24.4% | $55.8M+161.2% | $21.4M-39.1% | $35.1M |
| Total Equity | $57.5M+1.5% | $56.7M-5.6% | $60.1M-3.8% | $62.5M-2.7% | $64.2M-2.5% | $65.9M+11.3% | $59.2M-8.4% | $64.6M |
| Retained Earnings | $18.0M+4.7% | $17.2M-17.6% | $20.9M | N/A | $25.0M-7.4% | $27.0M+33.9% | $20.1M-31.5% | $29.4M |
USEA Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q4'24 | Q3'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$444K | N/A | -$3.1M-281.5% | $1.7M | N/A | N/A | N/A | N/A |
| Capital Expenditures | -$33K | N/A | $160K+95.1% | $82K | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$477K | N/A | -$3.2M-300.8% | $1.6M | N/A | N/A | N/A | N/A |
| Investing Cash Flow | $34.5M | N/A | -$1.7M-112.8% | $13.4M | N/A | N/A | N/A | N/A |
| Financing Cash Flow | -$17.4M | N/A | $123K+101.1% | -$11.4M | 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 | $107K | N/A | $0-100.0% | $426K | N/A | N/A | N/A | $3.0M |
USEA Financial Ratios
| Metric | Q3'25 | Q2'25 | Q4'24 | Q3'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| 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 | 0.62+0.1 | 0.49-0.2 | 0.73 | N/A | 0.47+0.1 | 0.36-0.2 | 0.57-1.8 | 2.37 |
| Debt-to-Equity | 0.75-0.1 | 0.89-0.1 | 1.02 | N/A | 0.66-0.2 | 0.85+0.5 | 0.36-0.2 | 0.54 |
| 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 (0.73), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is United Maritime Corporation's annual revenue?
United Maritime Corporation (USEA) reported $45.4M in total revenue for fiscal year 2024. This represents a 26.0% 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 United Maritime Corporation's revenue growing?
United Maritime Corporation (USEA) revenue grew by 26% year-over-year, from $36.1M to $45.4M in fiscal year 2024.
Is United Maritime Corporation profitable?
No, United Maritime Corporation (USEA) reported a net income of -$3.4M in fiscal year 2024, with a net profit margin of -7.4%.
What is United Maritime Corporation's EBITDA?
United Maritime Corporation (USEA) had EBITDA of $14.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does United Maritime Corporation have?
As of fiscal year 2024, United Maritime Corporation (USEA) had $6.4M in cash and equivalents against $61.1M in long-term debt.
What is United Maritime Corporation's operating margin?
United Maritime Corporation (USEA) had an operating margin of 10.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is United Maritime Corporation's net profit margin?
United Maritime Corporation (USEA) had a net profit margin of -7.4% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is United Maritime Corporation's return on equity (ROE)?
United Maritime Corporation (USEA) has a return on equity of -5.6% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is United Maritime Corporation's free cash flow?
United Maritime Corporation (USEA) generated $3.0M in free cash flow during fiscal year 2024. This represents a 103.4% 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 United Maritime Corporation's operating cash flow?
United Maritime Corporation (USEA) generated $3.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are United Maritime Corporation's total assets?
United Maritime Corporation (USEA) had $172.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are United Maritime Corporation's capital expenditures?
United Maritime Corporation (USEA) invested $249K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is United Maritime Corporation's current ratio?
United Maritime Corporation (USEA) had a current ratio of 0.73 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is United Maritime Corporation's debt-to-equity ratio?
United Maritime Corporation (USEA) had a debt-to-equity ratio of 1.02 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is United Maritime Corporation's return on assets (ROA)?
United Maritime Corporation (USEA) had a return on assets of -2.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is United Maritime Corporation's Altman Z-Score?
United Maritime Corporation (USEA) has an Altman Z-Score of 0.56, 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 United Maritime Corporation's Piotroski F-Score?
United Maritime Corporation (USEA) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are United Maritime Corporation's earnings high quality?
United Maritime Corporation (USEA) has an earnings quality ratio of -0.96x, considered mixed 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 United Maritime Corporation cover its interest payments?
United Maritime Corporation (USEA) has an interest coverage ratio of 0.6x, 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 United Maritime Corporation?
United Maritime Corporation (USEA) scores 42 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.