Himalaya Shipping Ltd. (HSHP)
Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company serves major commodity trading, commodity and energy transition, and multi-modal transport companies. As of December 31, 2024, it owned and operated through a fleet of 12 Newcastlemax dry bulk vessels, each with capacity in the range of 210,000 dead weight tons. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.
Sector: Deep Sea Foreign Transportation of Freight
Industry: Marine Shipping
Himalaya Shipping Ltd.
NYSE:HSHPIndustrials · Marine Shipping
-0.77%$16.76
AH Close$16.76+0.00%vs close
AH Close$16.76+0.00%vs close
Mkt Cap$790.57M
Float28.59M
O/S47.17M
Inst Own47.7%
SI5.8%
Div Yield10.86%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$131.9M
Net Income$17.7M
Total Assets$863.9M
Free Cash Flow$51.7M
Debt & Equity
Debt 81%
Equity 19%
Total Debt$689.2M
Total Equity$161.7M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in HSHP's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$863.9M
Liabilities$702.2M
Accounts Receivable$700K
Accounts Payable$1.3M
Inventory$1.7M
PP&E (Net)$823.8M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Revenue | $131.9M | $123.58M | $36.74M | $0 | $0 |
| YoY Growth | 6.7% | 236.4% | - | - | - |
| Cost of Revenue | $29.6M | $25.45M | $18.26M | $0 | $0 |
| Gross Profit | $102.3M | $98.13M | $18.47M | $0 | $0 |
| Gross Margin | 77.6% | 79.4% | 50.3% | - | - |
| Research and Development | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $4.9M | $5.03M | $3.85M | $1.97M | $974K |
| Other | $29.2M | $26.47M | $0 | $0 | $0 |
| Total Operating Expenses | $34.1M | $31.5M | $3.85M | $1.97M | $974K |
| Operating Income (EBIT) | $68.2M | $66.62M | $14.63M | -$1.97M | -$974K |
| Operating Margin | 51.7% | 53.9% | 39.8% | - | - |
| Interest Expense | $52.91M | $46.64M | $13.6M | $0 | $0 |
| Interest Income | $1.03M | $1.01M | $489K | $38K | $0 |
| Other Income (Expense) | -$50.5M | -$45.57M | -$13.11M | $18K | $0 |
| Income Before Tax (EBT) | $17.7M | $21.05M | $1.51M | -$1.95M | -$974K |
| Income Tax Expense | $0 | $11K | $0 | $0 | $0 |
| Net Income | $17.7M | $21.04M | $1.51M | -$1.95M | -$974K |
| Net Income Margin | 13.4% | 17.0% | 4.1% | - | - |
| Supplementary Data | |||||
| EPS | 0.38 | 0.48 | 0.04 | -0.06 | -0.05 |
| Diluted EPS | 0.38 | 0.48 | 0.04 | -0.06 | -0.05 |
| Weighted Average OS | 46.02M | 43.90M | 38.64M | 32.15M | 18.32M |
| EBITDA | $99.81M | $94.17M | $24.23M | -$1.95M | $0 |
| EBITDA Margin | 75.7% | 76.2% | 66.0% | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Assets | |||||
| Current Assets | |||||
| Cash and Cash Equivalents | $32.4M | $19.37M | $25.55M | $263K | $11.3M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $32.4M | $19.37M | $25.55M | $263K | $11.3M |
| Accounts Receivable | $700K | $1.25M | $811K | $0 | $0 |
| Inventory | $1.7M | $1.5M | $634K | $0 | $0 |
| Other Current Assets | $3.5M | $1.07M | $2.4M | $0 | $0 |
| Total Current Assets | $39.7M | $26.8M | $32.81M | $1.67M | $11.3M |
| Long-Term Assets | |||||
| Property, Plant & Equipment Net | $823.8M | $852.98M | $561.26M | $176.15M | $83.5M |
| Goodwill | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $400K | $324K | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $5.14M | $0 | $400K |
| Total Long-Term Assets | $824.2M | $853.3M | $566.4M | $176.15M | $83.9M |
| Other Assets | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $863.9M | $880.1M | $599.21M | $177.81M | $95.2M |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | $1.3M | $821K | $1.69M | $14.89M | $800K |
| Short-Term Debt | $23.6M | $24.3M | $19.8M | $7M | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $5.3M | $3.44M | $1.28M | $261K | $0 |
| Total Current Liabilities | $36.6M | $35.8M | $25.3M | $26.05M | $800K |
| Long-Term Liabilities | |||||
| Long-Term Debt | $665.6M | $689.58M | $419.7M | $60.44M | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $1M | $2.5M |
| Total Long-Term Liabilities | $665.6M | $689.58M | $419.7M | $61.44M | $2.5M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $702.2M | $725.38M | $445M | $87.49M | $3.3M |
| Stockholders' Equity | |||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $46.7M | $43.9M | $43.9M | $32.15M | $32.2M |
| Retained Earnings | $37.3M | $19.56M | -$1.48M | -$3M | -$1M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $77.7M | $91.26M | $111.79M | $61.17M | $60.7M |
| Total Equity | $161.7M | $154.72M | $154.21M | $90.33M | $91.9M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $863.9M | $880.1M | $599.21M | $177.81M | $95.2M |
| Supplementary Data | |||||
| Total Debt | $689.2M | $713.89M | $439.5M | $67.44M | $0 |
| Net Debt | $656.8M | $694.52M | $413.94M | $67.18M | -$11.3M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Operating Activities | |||||
| Net Income | $17.7M | $21.04M | $1.51M | -$1.95M | -$1M |
| Depreciation & Amortization | $29.2M | $26.47M | $9.12M | $0 | $1.39M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $200K | $512K | $474K | $401K | $40K |
| Changes in Working Capital: | |||||
| Accounts Receivable | $500K | -$438K | -$3.51M | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $500K | $0 | $485K | $444K | $0 |
| Other Working Capital | $900K | $6.69M | -$2.99M | -$338K | $500K |
| Total Working Capital Change | $1.9M | $6.25M | -$6.01M | $106K | $500K |
| Other Non-Cash Items | $2.7M | $1.56M | $1.38M | $0 | -$1.43M |
| Net Cash from Operating | $51.7M | $55.84M | $6.47M | -$1.45M | -$500K |
| Investing Activities | |||||
| Capital Expenditures | $0 | -$313.05M | -$413.06M | -$78.2M | -$68.8M |
| Acquisitions | $0 | -$305K | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | -$313.36M | -$413.06M | -$78.2M | -$68.8M |
| Financing Activities | |||||
| Debt Repaid | $33.3M | -$274.28M | -$373.63M | -$70.83M | - |
| Common Stock Issuance | $15.96M | $0 | $62.19M | $0 | $80.6M |
| Common Stock Repurchases | $0 | $0 | $0 | -$513K | $0 |
| Dividends Paid | -$27.69M | -$20.63M | $0 | $0 | $0 |
| Other Financing Activities | $6.33M | -$2.31M | -$3.95M | -$1.69M | $0 |
| Net Cash from Financing | -$38.7M | $251.34M | $431.87M | $68.62M | $80.6M |
| Forex Effect | $31K | $0 | $0 | $0 | $0 |
| Net Change in Cash | $13.03M | -$6.18M | $25.29M | -$11.02M | $11.3M |
| Supplementary Data | |||||
| Operating Cash Flow | $51.7M | $55.84M | $6.47M | -$1.45M | -$500K |
| Capital Expenditure | $0 | -$313.05M | -$413.06M | -$78.2M | -$68.8M |
| Free Cash Flow | $51.7M | -$257.21M | -$406.58M | -$79.64M | -$69.3M |
| Cash at Beginning | $19.37M | $25.55M | $263K | $11.28M | $0 |
| Cash at End | $32.4M | $19.37M | $25.55M | $263K | $11.3M |