United Maritime Corporation Financials
United Maritime Corporation (USEA) reported $37.8M in revenue for fiscal year 2025, down 16.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
A capital-heavy balance-sheet reset is reshaping the business, with asset sales and debt reduction now mattering more than revenue.
From FY2023 to FY2025, free cash flow turned positive even as earnings stayed negative because reinvestment collapsed from$81.7M to$668K . At the same time, total assets shrank and long-term debt nearly halved, showing recent cash support is coming from a smaller balance sheet and lighter financing burden rather than from a rebound in the core income statement.
FY2025 still looks liquidity-tight: the current ratio was 0.7x and current liabilities exceeded current assets by about
Debt service is easing, with interest expense down to
Financial Health Signals
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 United Maritime Corporation'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.
United Maritime Corporation has an operating margin of -1.2%, meaning the company loses $1 on every $100 of revenue. This results in a profitability score of 49/100. This is down from 10.6% the prior year.
United Maritime Corporation's revenue declined 16.8% year-over-year, from $45.4M to $37.8M. This contraction results in a growth score of 40/100.
United Maritime Corporation has elevated debt relative to equity (D/E of 0.63), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 24/100, reflecting increased financial risk.
United Maritime Corporation's current ratio of 0.68 is below the typical benchmark, resulting in a score of 8/100. This tight liquidity could limit financial flexibility if cash inflows slow.
United Maritime Corporation's free cash flow margin of 4.1% results in a low score of 9/100. Capital expenditures of $668K absorb a large share of operating cash flow.
United Maritime Corporation posts a -11.7% return on equity (ROE), meaning it loses $12 for every $100 of shareholders' equity. This results in a returns score of 37/100. This is down from -5.6% the prior year.
United Maritime Corporation scores 0.46, below the 1.81 distress threshold. 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.
United Maritime Corporation passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
United Maritime Corporation reported a net loss of $6.2M while generating $2.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
United Maritime Corporation reported an operating loss of $455K against $4.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
United Maritime Corporation generated $37.8M in revenue in fiscal year 2025. This represents a decrease of 16.8% from the prior year.
United Maritime Corporation's EBITDA was $7.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 49.3% from the prior year.
United Maritime Corporation reported -$6.2M in net income in fiscal year 2025. This represents a decrease of 82.9% from the prior year.
United Maritime Corporation earned -$0.70 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 79.5% from the prior year.
Cash & Balance Sheet
United Maritime Corporation generated $1.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 48.8% from the prior year.
United Maritime Corporation held $14.2M in cash against $33.6M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
United Maritime Corporation's operating margin was -1.2% in fiscal year 2025, reflecting core business profitability. This is down 11.8 percentage points from the prior year.
United Maritime Corporation's net profit margin was -16.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 8.9 percentage points from the prior year.
United Maritime Corporation's ROE was -11.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 6.1 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
United Maritime Corporation spent $204K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 56.5% from the prior year.
United Maritime Corporation invested $668K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 168.3% from the prior year.
Not reported for fiscal year 2025.
USEA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Revenue | $37.8M-16.8% | $45.4M+26.0% | $36.1M+58.3% | $22.8M |
| SG&A Expenses | $4.3M+7.4% | $4.0M-33.4% | $6.0M+8.9% | $5.5M |
| Operating Income | -$455K-109.4% | $4.8M-31.9% | $7.1M-82.5% | $40.5M |
| Interest Expense | $4.9M-41.9% | $8.4M+17.2% | $7.2M+192.9% | $2.5M |
| Net Income | -$6.2M-82.9% | -$3.4M-1630.8% | $221K-99.4% | $37.5M |
| EPS (Diluted) | -$0.70-79.5% | -$0.39-2050.0% | $0.02-99.6% | $4.92 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Income Tax.
USEA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Total Assets | $138.7M-19.4% | $172.1M-1.6% | $174.8M+39.1% | $125.7M |
| Current Assets | $33.1M+35.2% | $24.5M+28.3% | $19.1M-68.1% | $59.8M |
| Cash & Equivalents | $14.2M+120.9% | $6.4M-53.5% | $13.8M-74.8% | $54.7M |
| Inventory | $363K-44.2% | $650K-2.1% | $664K+520.6% | $107K |
| Accounts Receivable | $1.4M-1.1% | $1.4M+470.2% | $252K-67.7% | $779K |
| Total Liabilities | $82.2M-26.6% | $112.0M+2.8% | $108.9M+78.3% | $61.1M |
| Current Liabilities | $48.6M+45.1% | $33.5M-36.9% | $53.1M+110.6% | $25.2M |
| Long-Term Debt | $33.6M-45.1% | $61.1M+9.4% | $55.8M+58.9% | $35.1M |
| Total Equity | $52.9M-11.9% | $60.1M-8.8% | $65.9M+2.0% | $64.6M |
| Retained Earnings | $13.5M-35.7% | $20.9M-22.4% | $27.0M-8.2% | $29.4M |
Not reported in any period shown, so not listed: Goodwill.
USEA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Operating Cash Flow | $2.2M-32.2% | $3.3M+152.4% | -$6.2M-179.1% | $7.9M |
| Capital Expenditures | $668K+168.3% | $249K-99.7% | $81.7M+1.1% | $80.8M |
| Free Cash Flow | $1.5M-48.8% | $3.0M+103.4% | -$88.0M-20.6% | -$73.0M |
| Investing Cash Flow | $40.4M+408.6% | $7.9M+113.4% | -$59.1M-1011.5% | $6.5M |
| Financing Cash Flow | -$34.8M-83.8% | -$19.0M-290.8% | $9.9M-82.1% | $55.6M |
| Dividends Paid | $1.1M-57.7% | $2.6M-71.8% | $9.4M | N/A |
| Share Buybacks | $204K-56.5% | $469K-30.3% | $673K-88.8% | $6.0M |
USEA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Operating Margin | -1.2%-11.8pp | 10.6%-9.0pp | 19.6% | 177.8% |
| Net Margin | -16.4%-8.9pp | -7.4%-8.1pp | 0.6% | 164.5% |
| Return on Equity | -11.7%-6.1pp | -5.6%-6.0pp | 0.3%-57.7pp | 58.1% |
| Return on Assets | -4.5%-2.5pp | -2.0%-2.1pp | 0.1%-29.7pp | 29.8% |
| Current Ratio | 0.68-0.1x | 0.73+0.4x | 0.36-2.0x | 2.37 |
| Debt-to-Equity | 0.63-0.4x | 1.02+0.2x | 0.85+0.3x | 0.54 |
| FCF Margin | 4.1%-2.6pp | 6.6% | -243.9% | -320.2% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: The current ratio is below 1.0 (0.68), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where United Maritime Corporation Ranks
Frequently Asked Questions
What is United Maritime Corporation's annual revenue?
United Maritime Corporation (USEA) reported $37.8M in total revenue for fiscal year 2025. This represents a -16.8% 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 declined by 16.8% year-over-year, from $45.4M to $37.8M in fiscal year 2025.
Is United Maritime Corporation profitable?
No, United Maritime Corporation (USEA) reported a net income of -$6.2M in fiscal year 2025, with a net profit margin of -16.4%.
What is United Maritime Corporation's EBITDA?
United Maritime Corporation (USEA) had EBITDA of $7.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does United Maritime Corporation have?
As of fiscal year 2025, United Maritime Corporation (USEA) had $14.2M in cash and equivalents against $33.6M in long-term debt.
What is United Maritime Corporation's operating margin?
United Maritime Corporation (USEA) had an operating margin of -1.2% in fiscal year 2025, 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 -16.4% in fiscal year 2025, 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 -11.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is United Maritime Corporation's free cash flow?
United Maritime Corporation (USEA) generated $1.5M in free cash flow during fiscal year 2025. This represents a -48.8% 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.
What is United Maritime Corporation's operating cash flow?
United Maritime Corporation (USEA) generated $2.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are United Maritime Corporation's total assets?
United Maritime Corporation (USEA) had $138.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are United Maritime Corporation's capital expenditures?
United Maritime Corporation (USEA) invested $668K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is United Maritime Corporation's current ratio?
United Maritime Corporation (USEA) had a current ratio of 0.68 as of fiscal year 2025, 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 0.63 as of fiscal year 2025, 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 -4.5% for fiscal year 2025, 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 0.46, 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 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.
Are United Maritime Corporation's earnings high quality?
United Maritime Corporation (USEA) reported a net loss of $6.2M while generating $2.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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) reported an operating loss of $455K against $4.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 28 out of 100 on our Financial Health Score, indicating weak 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.