Performance Shipping Inc. (PSHG)
NASDAQ:PSHG
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Performance Shipping
(NASDAQ:PSHG)
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Rating:64Neutral
Price Target:
$2.00
▲(4.71% Upside)
Action:Downgraded
Date:04/29/26
The score is primarily supported by very strong reported valuation (very low P/E) and strong recent profitability, but capped by elevated risk signals in fundamentals (free cash flow volatility and higher 2025 debt) and only neutral-to-weak technical momentum (below key moving averages with negative MACD).
Positive Factors
Long-term charters for newbuilds
Securing multi-year, investment-grade charters for two fuel-efficient Suezmax newbuilds materially lengthens revenue visibility and de-risks large capex. These contracts cover most acquisition cost and reduce exposure to spot volatility, strengthening predictable cash flows and fleet competitiveness into 2028–2030.
Negative Factors
Sharp increase in total debt (2025)
A significant rise in absolute debt raises interest and refinancing exposure, tightening liquidity buffers if freight weakens. Elevated leverage can constrain strategic optionality, increase covenant risk, and amplify earnings sensitivity to rate moves and market cycles over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-term charters for newbuilds
Securing multi-year, investment-grade charters for two fuel-efficient Suezmax newbuilds materially lengthens revenue visibility and de-risks large capex. These contracts cover most acquisition cost and reduce exposure to spot volatility, strengthening predictable cash flows and fleet competitiveness into 2028–2030.
Read all positive factors
Performance Shipping (PSHG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$21.38M
Dividend YieldN/A
Average Volume (3M)59.70K
Price to Earnings (P/E)0.7
Beta (1Y)-0.04
Revenue Growth11.81%
EPS Growth-51.76%
CountryUS
Employees211
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)3.87
Shares Outstanding12,432,158
10 Day Avg. Volume70,134
30 Day Avg. Volume59,697
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.08
Price to Sales (P/S)0.31
P/FCF Ratio-0.11
Enterprise Value/Market Cap9.15
Enterprise Value/Revenue2.33
Enterprise Value/Gross Profit4.24
Enterprise Value/Ebitda3.24
Forecast
1Y Price Target
$5.75Price Target Upside201.05% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.29
Revenue Forecast (FY)$119.41M
Performance Shipping Business Overview & Revenue Model
Company Description
Performance Shipping Inc., through its subsidiaries, provides shipping transportation services through its ownership of tanker vessels worldwide. It owned and operated five Aframax tanker vessels with a combined carrying capacity of 546,094 dwt. T...
How the Company Makes Money
Performance Shipping makes money primarily by earning charter revenue from the commercial employment of its tanker vessels. The company generates revenue when its ships are hired under (a) spot-market arrangements (typically voyage charters or spo...
Performance Shipping Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
62
Positive
Cash Flow
41
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 84.17M | 87.44M | 108.94M | 75.17M | 36.49M |
| Gross Profit | 42.31M | 50.11M | 67.92M | 37.20M | -2.49M |
| EBITDA | 70.69M | 56.04M | 93.80M | 39.70M | -833.00K |
| Net Income | 49.97M | 43.73M | 69.41M | 36.30M | -9.71M |
Balance Sheet | |||||
| Total Assets | 559.85M | 330.39M | 296.27M | 292.98M | 144.92M |
| Cash, Cash Equivalents and Short-Term Investments | 48.17M | 70.31M | 67.27M | 38.73M | 9.57M |
| Total Debt | 222.40M | 47.51M | 54.98M | 127.84M | 49.90M |
| Total Liabilities | 236.42M | 55.15M | 63.08M | 137.27M | 57.58M |
| Stockholders Equity | 323.43M | 275.24M | 233.18M | 155.71M | 87.35M |
Cash Flow | |||||
| Free Cash Flow | -231.46M | 12.48M | 56.04M | -111.73M | -4.91M |
| Operating Cash Flow | 50.08M | 59.67M | 67.95M | 33.85M | -3.12M |
| Investing Cash Flow | -244.59M | -47.41M | 25.72M | -112.95M | -770.00K |
| Financing Cash Flow | 172.46M | -9.21M | -65.14M | 109.25M | -7.91M |
Performance Shipping Technical Analysis
Neutral
1.91
Price Trends
1.82
Negative
1.96
Negative
2.01
Negative
Market Momentum
-0.03
Negative
54.54
Neutral
83.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PSHG, the sentiment is Neutral. The current price of 1.91 is above the 20-day moving average (MA) of 1.72, above the 50-day MA of 1.82, and below the 200-day MA of 2.01, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 54.54 is Neutral, neither overbought nor oversold. The STOCH value of 83.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for PSHG.
Performance Shipping Risk Analysis
Performance Shipping disclosed 72 risk factors in its most recent earnings report. Performance Shipping reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Performance Shipping Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $48.90M | 13.09 | 3.87% | ― | -20.22% | -47.01% | |
67 Neutral | $21.74M | 1.07 | -5.54% | ― | 24.97% | ― | |
64 Neutral | $21.38M | 0.73 | 9.79% | ― | 11.81% | -51.76% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
51 Neutral | $45.75M | -25.82 | -1.00% | ― | 26.77% | -515.79% | |
51 Neutral | $24.32M | -11.70 | -3.33% | 6.20% | -10.84% | 72.72% | |
45 Neutral | $7.69M | 1.42 | 7.94% | ― | -6.63% | -38.69% |
* Industrials Sector Average
PSHG
Performance Shipping
1.80
0.12
7.14%
GLBS
Globus Maritime
2.09
0.93
80.17%
TOPS
Top Ships
0.95
-6.46
-87.20%
PXS
Pyxis Tankers
4.62
1.84
66.19%
CTRM
Castor Maritime
2.13
-0.17
-7.39%
USEA
United Maritime Corp.
2.47
1.30
111.47%
Performance Shipping Corporate Events
Performance Shipping Posts Strong Q1 Revenue, Deepens Charter Backlog and Fleet Renewal
May 26, 2026
On May 26, 2026, Performance Shipping reported first-quarter 2026 net income of $10.2 million, down from $29.4 million a year earlier due to a prior-period vessel sale gain, while revenue rose to $33.8 million from $21.3 million on the back of fle...
Performance Shipping Secures Long-Term Charters for Two Suezmax Newbuildings
Apr 16, 2026
On April 16, 2026, Athens-based Performance Shipping Inc. announced it has signed long-term time charter agreements with Repsol Trading S.A. for two 158,000 dwt Suezmax tanker newbuildings under construction in China. The vessels, fitted with scru...
Performance Shipping to Sell Aframax Tanker M/T P. Aliki for US$42.65 Million in Fleet Renewal Move
Apr 14, 2026
On April 14, 2026, Performance Shipping Inc. announced it has signed a Memorandum of Agreement to sell its oldest vessel, the 2010-built Aframax tanker M/T P. Aliki, to Trafigura Maritime Logistics for US$42.65 million. Delivery to the buyer is ex...
Performance Shipping Seals $37.8 Million Sale-Leaseback for LR1 Newbuilding
Mar 18, 2026
On March 17, 2026, Performance Shipping Inc. said it had secured a sale and leaseback agreement with an unaffiliated financier for its LR1 newbuilding tanker M/T P. San Francisco, now under construction in China and scheduled for delivery in early...
Performance Shipping Posts Higher 2025 Profit and Accelerates Tanker Fleet Expansion
Mar 4, 2026
On March 4, 2026, Performance Shipping reported fourth-quarter 2025 net income of $7.6 million, down from $9.7 million a year earlier, as operating cash flow eased despite higher revenue of $26.2 million driven by additional ownership days from tw...
Performance Shipping Orders Two New Suezmax Tankers to Double Segment Exposure
Mar 4, 2026
On March 2, 2026, Performance Shipping Inc. announced it has signed shipbuilding contracts via two wholly owned subsidiaries with China Shipbuilding Trading Co. and Shanghai Waigaoqiao Shipbuilding for two 158,000 DWT Suezmax tankers. The vessels,...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.