(DSX) Diana Shipping - Overview
Stock: Bulk, Transport, Charter, Fleet, Cargo
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 2.31% |
| Yield on Cost 5y | 2.78% |
| Yield CAGR 5y | -32.26% |
| Payout Consistency | 30.5% |
| Payout Ratio | 62.3% |
| Risk 5d forecast | |
|---|---|
| Volatility | 51.1% |
| Relative Tail Risk | -9.09% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.68 |
| Alpha | 12.97 |
| Character TTM | |
|---|---|
| Beta | 0.957 |
| Beta Downside | 1.296 |
| Drawdowns 3y | |
|---|---|
| Max DD | 64.33% |
| CAGR/Max DD | -0.15 |
Description: DSX Diana Shipping January 29, 2026
Diana Shipping Inc. (NYSE: DSX) is a Greek-incorporated, publicly traded company that owns and bareboat-charters a fleet of 37 dry-bulk vessels-including 4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 10 Ultramax, and 6 Panamax-as of 24 Mar 2025. The fleet transports iron ore, coal, grain and other bulk commodities on global routes, and the firm has operated under its current name since February 2005.
According to the company’s Q4 2024 earnings release (filed 15 Feb 2025), DSX reported an average time-charter equivalent (TCE) rate of $21,800 per day for its Capesize vessels and $13,500 per day for Kamsarmax ships, reflecting a 7 % YoY increase driven by a rebound in the Baltic Dry Index (BDI) to 1,850 points in December 2024. Fleet utilization remained high at ~92 % across all size classes, and net cash flow from operations was $45 million, supporting a debt-to-equity ratio of 1.3×-both metrics above the sector median of 1.0×.
The dry-bulk market is currently influenced by three macro drivers: (1) a projected 4.5 % YoY rise in global steel production, primarily in China and India, which sustains iron-ore demand; (2) tighter vessel supply as new-build deliveries slow to 5 units per quarter in 2025 due to shipyard capacity constraints; and (3) the upcoming IMO 2025 carbon-intensity regulations, prompting operators to prioritize newer, fuel-efficient ships-an advantage for DSX’s relatively modern fleet composition.
For a deeper, data-driven assessment of DSX’s valuation relative to these dynamics, you may find ValueRay’s analytical dashboards useful.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income: 24.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -4.45 > 1.0 |
| NWC/Revenue: 88.61% < 20% (prev 52.99%; Δ 35.61% < -1%) |
| CFO/TA 0.06 > 3% & CFO 66.4m > Net Income 24.4m |
| Net Debt (557.3m) to EBITDA (107.5m): 5.18 < 3 |
| Current Ratio: 3.42 > 1.5 & < 3 |
| Outstanding Shares: last quarter (111.1m) vs 12m ago -7.60% < -2% |
| Gross Margin: 42.12% > 18% (prev 0.38%; Δ 4174 % > 0.5%) |
| Asset Turnover: 18.64% > 50% (prev 19.91%; Δ -1.27% > 0%) |
| Interest Coverage Ratio: 1.40 > 6 (EBITDA TTM 107.5m / Interest Expense TTM 44.2m) |
Altman Z'' -1.30
| A: 0.16 (Total Current Assets 273.8m - Total Current Liabilities 80.2m) / Total Assets 1.18b |
| B: -0.54 (Retained Earnings -635.9m / Total Assets 1.18b) |
| C: 0.05 (EBIT TTM 61.8m / Avg Total Assets 1.17b) |
| D: -0.93 (Book Value of Equity -634.3m / Total Liabilities 684.1m) |
| Altman-Z'' Score: -1.30 = CCC |
Beneish M -2.96
| DSRI: 1.19 (Receivables 6.76m/6.02m, Revenue 218.6m/231.2m) |
| GMI: 0.90 (GM 42.12% / 38.09%) |
| AQI: 1.13 (AQ_t 0.06 / AQ_t-1 0.06) |
| SGI: 0.95 (Revenue 218.6m / 231.2m) |
| TATA: -0.04 (NI 24.4m - CFO 66.4m) / TA 1.18b) |
| Beneish M-Score: -2.96 (Cap -4..+1) = A |
What is the price of DSX shares?
Over the past week, the price has changed by -1.29%, over one month by +27.22%, over three months by +39.51% and over the past year by +28.81%.
Is DSX a buy, sell or hold?
- StrongBuy: 1
- Buy: 0
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the DSX price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 2.9 | 26.6% |
| Analysts Target Price | 2.9 | 26.6% |
| ValueRay Target Price | 2.5 | 10.5% |
DSX Fundamental Data Overview February 04, 2026
P/E Forward = 3.1928
P/S = 1.2025
P/B = 0.5375
P/EG = -0.83
Revenue TTM = 218.6m USD
EBIT TTM = 61.8m USD
EBITDA TTM = 107.5m USD
Long Term Debt = 651.1m USD (from longTermDebt, last quarter)
Short Term Debt = 54.9m USD (from shortTermDebt, last fiscal year)
Debt = 651.1m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 557.3m USD (from netDebt column, last quarter)
Enterprise Value = 723.3m USD (206.1m + Debt 651.1m - CCE 133.9m)
Interest Coverage Ratio = 1.40 (Ebit TTM 61.8m / Interest Expense TTM 44.2m)
EV/FCF = 52.05x (Enterprise Value 723.3m / FCF TTM 13.9m)
FCF Yield = 1.92% (FCF TTM 13.9m / Enterprise Value 723.3m)
FCF Margin = 6.36% (FCF TTM 13.9m / Revenue TTM 218.6m)
Net Margin = 11.18% (Net Income TTM 24.4m / Revenue TTM 218.6m)
Gross Margin = 42.12% ((Revenue TTM 218.6m - Cost of Revenue TTM 126.5m) / Revenue TTM)
Gross Margin QoQ = 32.75% (prev 36.51%)
Tobins Q-Ratio = 0.61 (Enterprise Value 723.3m / Total Assets 1.18b)
Interest Expense / Debt = 1.64% (Interest Expense 10.7m / Debt 651.1m)
Taxrate = 21.0% (US default 21%)
NOPAT = 48.8m (EBIT 61.8m * (1 - 21.00%))
Current Ratio = 3.42 (Total Current Assets 273.8m / Total Current Liabilities 80.2m)
Debt / Equity = 1.30 (Debt 651.1m / totalStockholderEquity, last quarter 499.7m)
Debt / EBITDA = 5.18 (Net Debt 557.3m / EBITDA 107.5m)
Debt / FCF = 40.10 (Net Debt 557.3m / FCF TTM 13.9m)
Total Stockholder Equity = 495.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.08% (Net Income 24.4m / Total Assets 1.18b)
RoE = 4.93% (Net Income TTM 24.4m / Total Stockholder Equity 495.6m)
RoCE = 5.39% (EBIT 61.8m / Capital Employed (Equity 495.6m + L.T.Debt 651.1m))
RoIC = 6.72% (NOPAT 48.8m / Invested Capital 726.2m)
WACC = 3.26% (E(206.1m)/V(857.2m) * Re(9.44%) + D(651.1m)/V(857.2m) * Rd(1.64%) * (1-Tc(0.21)))
Discount Rate = 9.44% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 2.62%
[DCF Debug] Terminal Value 80.82% ; FCFF base≈34.5m ; Y1≈22.6m ; Y5≈10.3m
Fair Price DCF = N/A (negative equity: EV 328.8m - Net Debt 557.3m = -228.4m; debt exceeds intrinsic value)
EPS Correlation: -83.64 | EPS CAGR: -68.61% | SUE: -0.20 | # QB: 0
Revenue Correlation: -91.10 | Revenue CAGR: -7.28% | SUE: -0.05 | # QB: 0
EPS next Year (2026-12-31): EPS=0.40 | Chg30d=+0.020 | Revisions Net=-1 | Growth EPS=+0.0% | Growth Revenue=+18.4%