(HSHP) Himalaya Shipping - OL
Sector: Industrials | Industry: Marine Shipping | Exchange: OL (Norway) | Market Cap: 6.591m NOK | Total Return: 134.3% in 12m
Avg Turnover: 30.2M
Warnings
Altman Z'' 1.00 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
Rs Leader, Idiosyncratic Leader, Confidence
Himalaya Shipping Ltd. (HSHP) is a Bermuda-based industrial marine transportation firm specializing in large-scale dry bulk logistics. The company operates a standardized fleet of 12 Newcastlemax vessels, each with a carrying capacity of approximately 210,000 deadweight tons, serving global commodity traders and energy transition sectors.
The business model focuses on the high-capacity Newcastlemax segment, which offers superior economies of scale compared to standard Capesize vessels. These ships primarily transport raw bulk materials, such as iron ore and coal, which are essential inputs for global steel production and infrastructure development.
Incorporated in 2021, the company maintains a modern fleet designed to meet evolving environmental regulations. Modern Newcastlemax vessels often feature dual-fuel engines or scrubbers, allowing operators to optimize fuel costs and reduce carbon intensity relative to older, less efficient tonnage in the dry bulk market.
- Daily hire rates for Newcastlemax vessels track global iron ore demand
- Dual-fuel engine fleet captures premium margins via lower fuel costs
- High dividend payout ratio drives total shareholder return and valuation
- IMO 2023 carbon intensity regulations favor modern fuel-efficient bulk carriers
| Net Income: 29.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 20.16 > 1.0 |
| NWC/Revenue: -1.11% < 20% (prev 0.07%; Δ -1.19% < -1%) |
| CFO/TA 0.07 > 3% & CFO 61.1m > Net Income 29.1m |
| Net Debt/EBITDA: error (cannot be calculated) |
| Current Ratio: 0.95 > 1.5 & < 3 |
| Outstanding Shares: last quarter (46.8m) vs 12m ago 5.71% < -2% |
| Gross Margin: 63.48% > 18% (prev 54.70%; Δ 8.78% > 0.5%) |
| Asset Turnover: 16.58% > 50% (prev 13.87%; Δ 2.72% > 0%) |
| Interest Coverage Ratio: 1.55 > 6 (EBIT TTM 78.8m / Interest Expense TTM 50.8m) |
| A: -0.00 (Total Current Assets 32.7m - Total Current Liabilities 34.3m) / Total Assets 849.6m |
| B: 0.05 (Retained Earnings 42.3m / Total Assets 849.6m) |
| C: 0.09 (EBIT TTM 78.8m / Avg Total Assets 865.3m) |
| D: 0.22 (Book Value of Equity 155.8m / Total Liabilities 693.8m) |
| Altman-Z'' = 1.00 = BB |
| DSRI: 1.20 (Receivables 1.00m/710k, Revenue 143.5m/122.2m) |
| GMI: 0.86 (GM 54.70% / 63.48%) |
| AQI: 1.21 (AQ_t 0.00 / AQ_t-1 0.00) |
| SGI: 1.17 (Revenue 143.5m / 122.2m) |
| TATA: -0.04 (NI 29.1m - CFO 61.1m) / TA 849.6m) |
| Beneish M = -2.74 (Cap -4..+1) = A |
As of June 20, 2026, the stock is trading at NOK 134.40 with a total of 330,495 shares traded.
Over the past week, the price has changed by -4.68%,
over one month by -4.82%,
over three months by +7.31% and
over the past year by +134.29%.
Himalaya Shipping has no consensus analysts rating.
Market Cap USD = 693.4m (6.59b NOK * 0.1052 NOK.USD)
P/E Trailing = 23.3389
P/E Forward = 8.9767
P/S = 45.9294
P/B = 4.5108
Revenue TTM = 143.5m USD
EBIT TTM = 78.8m USD
EBITDA TTM = 108.0m USD
Long Term Debt = 659.5m USD (from longTermDebt, last quarter)
Short Term Debt = 23.7m USD (from shortLongTermDebt, last quarter)
Debt = unknown
Net Debt = unknown
Enterprise Value = 668.9m USD (693.4m + (null Debt) - CCE 24.5m)
Interest Coverage Ratio = 1.55 (Ebit TTM 78.8m / Interest Expense TTM 50.8m)
EV/FCF = 10.95x (Enterprise Value 668.9m / FCF TTM 61.1m)
FCF Yield = 9.13% (FCF TTM 61.1m / Enterprise Value 668.9m)
FCF Margin = 42.58% (FCF TTM 61.1m / Revenue TTM 143.5m)
Net Margin = 20.28% (Net Income TTM 29.1m / Revenue TTM 143.5m)
Gross Margin = 63.48% ((Revenue TTM 143.5m - Cost of Revenue TTM 52.4m) / Revenue TTM)
Gross Margin QoQ = 54.76% (prev 64.61%)
Tobins Q-Ratio = 0.79 (Enterprise Value 668.9m / Total Assets 849.6m)
Interest Expense / Debt = unknown (Interest Expense 50.8m / Debt none)
Taxrate = 0.0% (0.0 / 29.1m)
NOPAT = 78.8m (EBIT 78.8m * (1 - 0.00%))
Current Ratio = 0.95 (Total Current Assets 32.7m / Total Current Liabilities 34.3m)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 108.0m)
Debt / FCF = unknown (Net Debt none / FCF TTM 61.1m)
Total Stockholder Equity = 159.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.36% (Net Income 29.1m / Total Assets 849.6m)
RoE = 18.28% (Net Income TTM 29.1m / Total Stockholder Equity 159.2m)
RoCE = 9.62% (EBIT 78.8m / Capital Employed (Equity 159.2m + L.T.Debt 659.5m))
RoIC = 9.75% (NOPAT 78.8m / Invested Capital 808.1m)
WACC = 7.58% (E(693.4m)/V(693.4m) * Re(7.58%) + (debt-free company))
Discount Rate = 7.58% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 87.06 | Cagr: 4.72%
[DCF] Terminal Value 75.44% ; FCFF base≈61.1m ; Y1≈61.4m ; Y5≈65.0m
[DCF] Fair Price = 21.44 (EV 1.01b - Net Debt 0.0 = Equity 1.01b / Shares 47.1m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.58 | # QB: 0
Revenue Correlation: 85.60 | Revenue CAGR: 138.8% | SUE: -0.16 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.47 | Chg30d=N/A | Revisions=+33% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.46 | Chg30d=N/A | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=1.65 | Chg30d=+15.44% | Revisions=+33% | GrowthEPS=+333.2% | GrowthRev=+42.1%
EPS next Year (2027-12-31): EPS=1.31 | Chg30d=+3.29% | Revisions=-33% | GrowthEPS=-20.4% | GrowthRev=-9.0%
[Analyst] Revisions Ratio: +33%