Seanergy Maritime (SHIP) AI Stock Analysis

• Market Cap: $183.73M
• Dividend Yield: 7.21%
• Average Volume (3M): 128.27K
• Price to Earnings (P/E): 11.6
• Beta (1Y): 1.05
• Revenue Growth: 1.66%
• EPS Growth: -46.13%
• Country: US
• Employees: 93
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): 0.18
• Shares Outstanding: 20,902,365
• 10 Day Avg. Volume: 123,212
• 30 Day Avg. Volume: 128,268
• PEG Ratio: <0.01
• Price to Book (P/B): 0.55
• Price to Sales (P/S): 0.86
• P/FCF Ratio: 154.47
• Enterprise Value/Market Cap: 2.27
• Enterprise Value/Revenue: 2.49
• Enterprise Value/Gross Profit: 4.36
• Enterprise Value/Ebitda: 5.36
• 1Y Price Target: $10.00
• Price Target Upside: 9.17% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 71 Outperform
• Price Target: $9.00 ▼(-1.75% Downside)

Seanergy Maritime's strong financial performance and attractive valuation are key strengths, supported by positive market trends. However, technical indicators suggest caution due to potential overbought conditions, and operational challenges noted in the earnings call temper the outlook.

Positive Factors

Revenue Growth

The significant revenue growth indicates strong market demand and effective operational strategies, enhancing long-term business sustainability.

Fleet Expansion

Fleet expansion and financial flexibility position Seanergy to capitalize on market opportunities and improve competitive standing.

Market Resilience

Improved market conditions for Capesize vessels suggest a favorable environment for revenue growth and strategic positioning.

Negative Factors

Year-over-Year Revenue Decline

The decline in year-over-year revenue highlights potential volatility and challenges in maintaining consistent growth.

First Half Net Loss

The net loss underscores the impact of market fluctuations on profitability, necessitating strategic adjustments to mitigate risks.

Operational Disruptions

Operational disruptions from dry dockings can affect revenue and highlight the need for efficient fleet management.

Seanergy Maritime Business Overview & Revenue Model

Company Description

Seanergy Maritime Holdings Corp. is a leading provider of maritime transportation services, primarily focused on the transportation of dry bulk commodities. The company operates a fleet of modern, fuel-efficient vessels, specializing in the transportation of iron ore, coal, and grain. Seanergy is dedicated to maintaining high operational standards and environmental sustainability while catering to the needs of its global customer base.

How the Company Makes Money

Seanergy Maritime generates revenue primarily through the chartering of its vessels to shipping companies and commodity traders. The company employs a mix of time charters and spot charters, allowing it to capitalize on favorable market conditions. Key revenue streams include long-term charters, which provide stable income, and short-term contracts that can yield higher rates during peak demand periods. Additionally, Seanergy benefits from strategic partnerships with major commodity producers and traders, enhancing its market presence and operational efficiency. The company's focus on maintaining a modern fleet and optimizing its operational costs further contributes to its profitability.

Seanergy Maritime Financial Statement Overview

Summary

Seanergy Maritime's financial performance shows strong revenue growth and profitability improvements with a 51.9% revenue increase from 2023 to 2024. The company maintains a solid gross profit margin of 69.9% and net profit margin of 25.9%. However, low free cash flow highlights the need for effective capital management strategies to enhance sustainability.

Income Statement

Seanergy Maritime has demonstrated strong revenue growth with a significant increase from $110.2M in 2023 to $167.5M in 2024, reflecting a 51.9% growth rate. The gross profit margin stands at 69.9%, and the net profit margin has improved to 25.9%. Additionally, the EBIT and EBITDA margins are solid at 37.4% and 55.2%, respectively. The company has shown impressive recovery and profitability over recent years, though it still needs to maintain this upward trajectory to cushion against market volatility.

Balance Sheet

The balance sheet indicates a reasonable debt-to-equity ratio of 0.98, reflecting a balanced approach to leveraging debt. The return on equity (ROE) is robust at 16.6%, showcasing efficient use of equity capital. Equity ratio stands at 48.0%, suggesting a stable financial structure with a solid buffer against liabilities. However, the company should remain cautious of increasing debt levels to avoid potential risks.

Cash Flow

Operating cash flow has improved significantly, reaching $75.3M in 2024, but free cash flow remains low at $927K. The operating cash flow to net income ratio is strong at 1.73, indicating good cash generation from operations. However, the free cash flow to net income ratio is weak at 0.02, highlighting potential challenges in cash retention after capital expenditures. Continuous focus on enhancing free cash flow is essential for long-term sustainability.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	167.46M	110.23M	125.02M	153.11M	63.34M
Gross Profit	117.18M	40.45M	48.88M	80.36M	7.39M
EBITDA	92.45M	45.22M	60.84M	79.07M	12.45M
Net Income	43.47M	2.28M	17.24M	41.35M	-28.84M
Balance Sheet
Total Assets	545.85M	477.88M	513.60M	486.92M	295.25M
Cash, Cash Equivalents and Short-Term Investments	21.87M	19.43M	32.48M	47.13M	23.65M
Total Debt	257.87M	232.97M	314.68M	222.75M	184.28M
Total Liabilities	283.67M	249.43M	291.90M	242.44M	199.55M
Stockholders Equity	262.18M	228.44M	221.70M	244.48M	95.69M
Cash Flow
Free Cash Flow	927.00K	30.83M	-33.16M	-116.56M	-30.00M
Operating Cash Flow	75.28M	31.32M	37.29M	80.76M	-9.73M
Investing Cash Flow	-79.37M	17.75M	-56.26M	-184.62M	-21.86M
Financing Cash Flow	14.08M	-56.62M	5.83M	127.44M	39.10M

Seanergy Maritime Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 9.16
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SHIP, the sentiment is Positive. The current price of 9.16 is above the 20-day moving average (MA) of 8.46, above the 50-day MA of 7.72, and above the 200-day MA of 6.78, indicating a bullish trend. The MACD of 0.39 indicates Negative momentum. The RSI at 70.04 is Negative, neither overbought nor oversold. The STOCH value of 76.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SHIP.

Seanergy Maritime Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ESEA	83 Outperform	429.51M	3.66	29.48%	4.24%	7.73%	0.50%
GASS	79 Outperform	252.93M	4.00	11.15%	―	13.82%	-10.37%
SHIP	71 Outperform	$183.73M	11.62	5.93%	7.21%	1.66%	-46.13%
DSX	58 Neutral	216.49M	14.26	2.52%	2.14%	-4.90%	21.09%
CTRM	54 Neutral	21.35M	-0.95	2.56%	―	-29.15%	-118.42%
GLBS	47 Neutral	24.08M	-4.08	0.24%	―	11.80%	-186.40%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Seanergy Maritime Corporate Events

Seanergy Maritime Reports Q2 2025 Profitability and Declares Dividend

Seanergy Maritime Holdings Corp. reported its financial results for the second quarter and first half of 2025, showing a return to profitability in the second quarter with a net income of $2.9 million, despite a decrease in net revenues compared to the previous year. The company declared a quarterly cash dividend of $0.05 per share, marking the 15th consecutive quarterly dividend. Seanergy’s fleet achieved a daily Time Charter Equivalent (TCE) rate that outperformed the Baltic Capesize Index by 6%. The company completed $110.6 million in financings and refinancings year-to-date, positioning itself to capitalize on favorable market conditions with a strong balance sheet and strategic hedging activities.