(SHIP) Seanergy Maritime Holdings - Overview
Sector: Industrials | Industry: Marine Shipping | Exchange: NASDAQ (USA) | Market Cap: 337m USD | Total Return: 150.3% in 12m
Avg Turnover: 3.45M
Qual. Beats: 0
Rev. Trend: 82.0%
Qual. Beats: 2
Warnings
Beneish M-Score -1.32 > -1.5 - likely earnings manipulation
Altman Z'' -2.52 < 1.0 - financial distress zone
Tailwinds
Rs Leader, Tailwind, Pullback 52w, Confidence
Seanergy Maritime Holdings Corp. is a Greece-based shipping firm specializing in the seaborne transportation of dry bulk commodities. The company exclusively operates a fleet of Capesize and Newcastlemax vessels, which are the largest classes of bulk carriers designed to transport iron ore, coal, and bauxite across major oceanic routes.
The business model relies on the global demand for raw materials, particularly from the steel production and energy sectors. Capesize vessels are often preferred for long-haul voyages because their scale offers significant economies of scale, though their size prevents them from transiting the Panama Canal, requiring them to utilize the Cape of Good Hope or Cape Horn.
Analyzing historical charter rates and fleet age can provide deeper insights into the companys valuation on ValueRay. Since its incorporation in 2008, Seanergy has positioned itself as a pure-play provider in the large-scale dry bulk segment, managing a total cargo-carrying capacity of over 3.6 million deadweight tons.
- Capesize charter rates fluctuate based on Chinese iron ore import demand
- Global steel production trends dictate long-term dry bulk shipping volume
- Fuel price volatility impacts operational margins for non-scrubber equipped vessels
- Environmental regulations necessitate costly fleet upgrades to meet carbon intensity standards
- Dividend payouts and share buybacks influence investor sentiment and equity valuation
| Net Income: 20.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 2.73 > 1.0 |
| NWC/Revenue: -16.07% < 20% (prev -9.39%; Δ -6.68% < -1%) |
| CFO/TA 0.09 > 3% & CFO 54.3m > Net Income 20.7m |
| Net Debt (227.7m) to EBITDA (77.2m): 2.95 < 3 |
| Current Ratio: 0.71 > 1.5 & < 3 |
| Outstanding Shares: last quarter (20.9m) vs 12m ago 2.26% < -2% |
| Gross Margin: 39.62% > 18% (prev 0.57%; Δ 3.90k% > 0.5%) |
| Asset Turnover: 27.44% > 50% (prev 30.68%; Δ -3.24% > 0%) |
| Interest Coverage Ratio: 1.98 > 6 (EBITDA TTM 77.2m / Interest Expense TTM 21.7m) |
| A: -0.04 (Total Current Assets 62.7m - Total Current Liabilities 88.1m) / Total Assets 606.6m |
| B: -0.53 (Retained Earnings -319.5m / Total Assets 606.6m) |
| C: 0.07 (EBIT TTM 43.0m / Avg Total Assets 576.2m) |
| D: -0.98 (Book Value of Equity -319.5m / Total Liabilities 325.2m) |
| Altman-Z'' = -2.52 = D |
| DSRI: 1.38 (Receivables 9.97m/7.67m, Revenue 158.1m/167.5m) |
| GMI: 1.44 (GM 39.62% / 57.10%) |
| AQI: 2.85 (AQ_t 0.06 / AQ_t-1 0.02) |
| SGI: 0.94 (Revenue 158.1m / 167.5m) |
| TATA: -0.06 (NI 20.7m - CFO 54.3m) / TA 606.6m) |
| Beneish M = -1.32 (Cap -4..+1) = D |
As of May 26, 2026, the stock is trading at USD 15.12 with a total of 218,700 shares traded.
Over the past week, the price has changed by -4.67%,
over one month by +5.81%,
over three months by +9.38% and
over the past year by +150.29%.
Seanergy Maritime Holdings has received a consensus analysts rating of 4.75. Therefore, it is recommended to buy SHIP.
- StrongBuy: 3
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 17.5 | 15.7% |
P/E Trailing = 15.3861
P/E Forward = 2.2143
P/S = 2.1298
P/B = 1.1967
Revenue TTM = 158.1m USD
EBIT TTM = 43.0m USD
EBITDA TTM = 77.2m USD
Long Term Debt = 235.2m USD (from longTermDebt, last quarter)
Short Term Debt = 55.0m USD (from shortTermDebt, last quarter)
Debt = 290.4m USD (from shortLongTermDebtTotal, last quarter) + Leases 214k
Net Debt = 227.7m USD (calculated: Debt 290.4m - CCE 62.7m)
Enterprise Value = 564.4m USD (336.7m + Debt 290.4m - CCE 62.7m)
Interest Coverage Ratio = 1.98 (Ebit TTM 43.0m / Interest Expense TTM 21.7m)
EV/FCF = 32.16x (Enterprise Value 564.4m / FCF TTM 17.6m)
FCF Yield = 3.11% (FCF TTM 17.6m / Enterprise Value 564.4m)
FCF Margin = 11.10% (FCF TTM 17.6m / Revenue TTM 158.1m)
Net Margin = 13.08% (Net Income TTM 20.7m / Revenue TTM 158.1m)
Gross Margin = 39.62% ((Revenue TTM 158.1m - Cost of Revenue TTM 95.5m) / Revenue TTM)
Gross Margin QoQ = 51.78% (prev 44.53%)
Tobins Q-Ratio = 0.93 (Enterprise Value 564.4m / Total Assets 606.6m)
Interest Expense / Debt = 7.48% (Interest Expense 21.7m / Debt 290.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = 33.9m (EBIT 43.0m * (1 - 21.00%))
Current Ratio = 0.71 (Total Current Assets 62.7m / Total Current Liabilities 88.1m)
Debt / Equity = 1.03 (Debt 290.4m / totalStockholderEquity, last quarter 281.4m)
Debt / EBITDA = 2.95 (Net Debt 227.7m / EBITDA 77.2m)
Debt / FCF = 12.97 (Net Debt 227.7m / FCF TTM 17.6m)
Total Stockholder Equity = 266.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.59% (Net Income 20.7m / Total Assets 606.6m)
RoE = 3.53% (Net Income TTM 20.7m / Total Stockholder Equity 585.8m)
RoCE = 5.23% (EBIT 43.0m / Capital Employed (Equity 585.8m + L.T.Debt 235.2m))
RoIC = 6.64% (NOPAT 33.9m / Invested Capital 510.9m)
WACC = 7.23% (E(336.7m)/V(627.1m) * Re(8.36%) + D(290.4m)/V(627.1m) * Rd(7.48%) * (1-Tc(0.21)))
Discount Rate = 8.36% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.11 | Cagr: 6.44%
[DCF] Terminal Value 77.97% ; FCFF base≈10.9m ; Y1≈12.5m ; Y5≈18.4m
[DCF] Fair Price = 2.26 (EV 276.7m - Net Debt 227.7m = Equity 48.9m / Shares 21.7m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.26 | # QB: 0
Revenue Correlation: 81.97 | Revenue CAGR: 18.06% | SUE: 1.14 | # QB: 2
EPS current Quarter (2026-06-30): EPS=0.57 | Chg30d=+6.54% | Revisions=N/A | Analysts=2
EPS current Year (2026-12-31): EPS=2.09 | Chg30d=+6.63% | Revisions=+33% | GrowthEPS=+63.3% | GrowthRev=+17.9%
EPS next Year (2027-12-31): EPS=2.37 | Chg30d=+2.16% | Revisions=N/A | GrowthEPS=+13.2% | GrowthRev=-0.3%
[Analyst] Revisions Ratio: +33%