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5-day change | 1st Jan Change | ||
17.01 USD | +0.71% | +6.11% | +20.72% |
Feb. 16 | Stifel Raises Price Target on Ardmore Shipping to $21 From $20, Maintains Buy Rating | MT |
Feb. 15 | Transcript : Ardmore Shipping Corporation - Analyst/Investor Day |
Valuation
Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
---|---|---|---|---|---|---|---|---|
Capitalization 1 | 299.5 | 108.8 | 116.1 | 584.3 | 581.9 | 701.5 | - | - |
Enterprise Value (EV) 1 | 670.8 | 458.7 | 432.3 | 708 | 622.7 | 602.8 | 507.8 | 425.3 |
P/E ratio | -13.1 x | -18.2 x | -3.02 x | 3.85 x | 5.2 x | 4.98 x | 6.26 x | 7.97 x |
Yield | 0.55% | - | - | 3.12% | 6.46% | 6.25% | 5.27% | 4.36% |
Capitalization / Revenue | 2.24 x | 0.78 x | 1.12 x | 2 x | 2.2 x | 2.52 x | 3.05 x | 3.44 x |
EV / Revenue | 5.01 x | 3.3 x | 4.16 x | 2.42 x | 2.36 x | 2.16 x | 2.21 x | 2.09 x |
EV / EBITDA | 12.6 x | 8.05 x | 26 x | 3.67 x | 3.9 x | 3.26 x | 3.57 x | 3.49 x |
EV / FCF | 37.5 x | 18.3 x | -78.3 x | 5.88 x | 4.64 x | 3.44 x | 4.94 x | 4.73 x |
FCF Yield | 2.66% | 5.47% | -1.28% | 17% | 21.6% | 29% | 20.3% | 21.2% |
Price to Book | 0.92 x | - | 0.4 x | - | 1.08 x | 1.03 x | 0.94 x | 0.9 x |
Nbr of stocks (in thousands) | 33,098 | 33,285 | 34,364 | 40,549 | 41,299 | 41,534 | - | - |
Reference price 2 | 9.050 | 3.270 | 3.380 | 14.41 | 14.09 | 16.89 | 16.89 | 16.89 |
Announcement Date | 2/11/20 | 2/10/21 | 2/15/22 | 2/14/23 | 2/15/24 | - | - | - |
Income Statement Evolution (Annual data)
Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
---|---|---|---|---|---|---|---|---|
Net sales 1 | 134 | 138.8 | 103.9 | 292 | 264.1 | 278.5 | 229.8 | 203.8 |
EBITDA 1 | 53.29 | 56.99 | 16.63 | 192.7 | 159.5 | 184.9 | 142.1 | 121.7 |
EBIT 1 | 16.17 | 18.6 | -20.24 | 159.3 | 128.1 | 142.4 | 99.87 | 77.78 |
Operating Margin | 12.07% | 13.4% | -19.48% | 54.54% | 48.52% | 51.13% | 43.46% | 38.17% |
Earnings before Tax (EBT) 1 | -22.8 | -5.847 | -36.37 | 138.9 | 118.3 | 148.9 | 112.9 | 84.94 |
Net income 1 | -22.86 | -6.046 | -38.09 | 135.1 | 113.4 | 148.3 | 112.4 | 84.52 |
Net margin | -17.06% | -4.36% | -36.65% | 46.25% | 42.95% | 53.27% | 48.89% | 41.48% |
EPS 2 | -0.6900 | -0.1800 | -1.120 | 3.740 | 2.710 | 3.392 | 2.699 | 2.118 |
Free Cash Flow 1 | 17.87 | 25.1 | -5.519 | 120.4 | 134.2 | 175 | 102.8 | 90 |
FCF margin | 13.34% | 18.08% | -5.31% | 41.23% | 50.83% | 62.85% | 44.76% | 44.16% |
FCF Conversion (EBITDA) | 33.53% | 44.05% | - | 62.48% | 84.16% | 94.65% | 72.39% | 73.95% |
FCF Conversion (Net income) | - | - | - | 89.15% | 118.36% | 117.98% | 91.54% | 106.48% |
Dividend per Share 2 | 0.0500 | - | - | 0.4500 | 0.9100 | 1.055 | 0.8896 | 0.7364 |
Announcement Date | 2/11/20 | 2/10/21 | 2/15/22 | 2/14/23 | 2/15/24 | - | - | - |
Income Statement Evolution (Quarterly data)
Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net sales 1 | 24.1 | 27.87 | 36.29 | 65.95 | 96.45 | 93.32 | 81.67 | 60.4 | 56.3 | 65.71 | 72.79 | 61.98 | 60.46 | 74.69 | 50.1 |
EBITDA 1 | 1.263 | 5.454 | 12.46 | 42.22 | 71.72 | 66.3 | 54.75 | 35.01 | 31.64 | 37.84 | 45 | 45 | 38 | 63 | - |
EBIT 1 | -7.85 | -3.84 | 3.473 | 34.27 | 58.97 | 58.05 | 46.8 | 27.3 | 23.98 | 29.8 | 37.87 | 28.34 | 26.21 | 41.47 | 18.47 |
Operating Margin | -32.57% | -13.78% | 9.57% | 51.97% | 61.14% | 62.2% | 57.31% | 45.2% | 42.6% | 45.35% | 52.03% | 45.72% | 43.36% | 55.53% | 36.87% |
Earnings before Tax (EBT) 1 | -12.25 | -7.644 | - | - | 62.06 | 54.23 | - | 25.08 | 21.4 | 27.4 | 34 | 34 | 28 | 53 | - |
Net income 1 | -12.83 | -8.553 | -7.85 | 28.85 | 60.98 | 53.08 | 43.25 | 23.66 | 20.35 | 26.15 | 34 | 34 | 28 | 53 | - |
Net margin | -53.24% | -30.69% | -21.63% | 43.75% | 63.22% | 56.88% | 52.96% | 39.17% | 36.14% | 39.8% | 46.71% | 54.85% | 46.31% | 70.96% | - |
EPS 2 | -0.3700 | -0.2500 | -0.2300 | 0.8100 | 1.520 | 1.300 | 1.040 | 0.5700 | 0.4900 | 0.6300 | 0.8862 | 0.8100 | 0.6668 | 0.6500 | 0.4800 |
Dividend per Share | - | - | - | - | - | - | 0.3500 | 0.1900 | 0.1600 | 0.2100 | - | - | - | - | - |
Announcement Date | 11/10/21 | 2/15/22 | 5/4/22 | 7/27/22 | 11/2/22 | 2/14/23 | 5/9/23 | 8/1/23 | 11/7/23 | 2/15/24 | - | - | - | - | - |
Balance Sheet Analysis
Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
---|---|---|---|---|---|---|---|---|
Net Debt 1 | 371 | 350 | 316 | 124 | 40.8 | - | - | - |
Net Cash position 1 | - | - | - | - | - | 98.7 | 194 | 276 |
Leverage (Debt/EBITDA) | 6.966 x | 6.139 x | 19.01 x | 0.6421 x | 0.256 x | - | - | - |
Free Cash Flow 1 | 17.9 | 25.1 | -5.52 | 120 | 134 | 175 | 103 | 90 |
ROE (net income / shareholders' equity) | - | 0.16% | - | - | 23.2% | 23.6% | 13.3% | 8.3% |
ROA (Net income/ Total Assets) | - | - | - | - | - | - | - | - |
Assets 1 | - | - | - | - | - | - | - | - |
Book Value Per Share 2 | 9.850 | - | 8.500 | - | 13.00 | 16.40 | 17.90 | 18.80 |
Cash Flow per Share 2 | 0.6200 | 1.380 | -0.0900 | 2.990 | 3.820 | 3.690 | 3.010 | 2.020 |
Capex 1 | 2.6 | 18.7 | 2.63 | 3.81 | 25.4 | 22.7 | 13.3 | 6.34 |
Capex / Sales | 1.94% | 13.49% | 2.53% | 1.3% | 9.61% | 8.14% | 5.8% | 3.11% |
Announcement Date | 2/11/20 | 2/10/21 | 2/15/22 | 2/14/23 | 2/15/24 | - | - | - |
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
EPS Revisions
1st Jan change | Capi. | |
---|---|---|
+20.72% | 702M | |
+23.34% | 9.03B | |
+18.20% | 5.3B | |
+18.83% | 3.63B | |
+22.12% | 2.7B | |
+32.86% | 2.53B | |
+17.23% | 1.86B | |
+5.02% | 1.85B | |
-3.37% | 1.7B | |
-9.26% | 1.41B |
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