Ardmore Shipping Corporation(ASC)

$15.75▲0.53 (3.48%)

Ardmore Shipping Corporation(ASC)

NYSE

$15.75▲0.53 (3.48%)

Overview Intelligence Chart Fundamentals Key Metrics Earnings Growth Analysts Financials Insiders Institutional

Revenue (LTM)

$310M

-23.6% YoY

Net Income (LTM)

$41M

-69.2% YoY

Free Cash Flow

$-39M

Revenue CAGR (5Y)

+12.7%

Marginsimproving

FCFTurned negative

Profitable

Watch on earnings:Time Charter Equivalent (TCE) rates achieved - revenue per day minus voyage costs, key profitability metricFleet utilization percentage - days vessels operated commercially vs. total available daysOperating cost per vessel per day (OPEX) - efficiency metric for cost controlCash breakeven rates - TCE level needed to cover OPEX, interest, and G&AFleet deployment mix - percentage in spot vs. time charter, geographic positioning

Key metrics:Baltic Exchange MR product tanker spot rates (TC2 MEG-Japan, TC14 US Gulf-UK routes) - real-time market rate indicators · Global refinery utilization rates (IEA, EIA data) - leading indicator for product tanker demand · MR tanker orderbook as percentage of existing fleet - supply pressure gauge · Brent-WTI crude oil spread - wider spreads incentivize transatlantic crude flows, indirectly affecting product trade patterns

Income Statement

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	192	446↑131.6%	396↓11.2%	406↑2.5%	310↓23.6%
Gross Profit	8	196↑2329.3%	167↓14.5%	156↓6.5%	106↓32.1%
Operating Income	-15	164↑1208.8%	132↓19.5%	128↓2.6%	81↓36.8%
Net Income	-37	138↑475.9%	117↓15.6%	133↑13.9%	41↓69.2%
EBITDA	10	186↑1771.9%	158↓15.0%	178↑13.0%	81↓54.6%
EPS Diluted	-1.08	3.52↑425.9%	2.71↓23.0%	3.06↑12.9%	0.88↓71.2%

Balance Sheet

⚠ Negative free cash flow (-$0.0B) indicates capex exceeding operating cash flow, requiring external financing or asset sales for fleet renewal

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	55	51↓8.8%	47↓7.4%	47↑0.4%	47↓0.3%
Total Current Assets	94	158↑67.4%	127↓19.6%	127↓0.2%	112↓11.6%
Total Assets	725	724↓0.1%	691↓4.5%	705↑2.0%	789↑11.9%
Total Current Liabilities	59	53↓9.5%	34↓36.1%	30↓11.8%	26↓13.4%
Total Liabilities	396	217↓45.0%	117↓46.4%	69↓40.5%	154↑122.5%
Total Equity	329	506↑53.9%	574↑13.4%	635↑10.6%	634↓0.2%
Total Debt	373	185↓50.4%	94↓49.1%	44↓52.9%	129↑191.3%
Net Debt	317	134↓57.7%	47↓64.8%	-3↓105.8%	82↑3081.6%

Cash Flow Statement

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Operating Cash Flow	-3	124↑4405.3%	160↑28.5%	160↑0.5%	82↓49.1%
Capital Expenditure	-3	-4↓44.6%	-25↓566.6%	-61↓140.4%	-121↓97.8%
Free Cash Flow	-6	120↑2281.7%	134↑11.5%	99↓25.9%	-39↓139.3%
Stock-Based Comp	3	3↑17.0%	3↑5.2%	5↑44.5%	0
Net Change in Cash	-3	-5↓67.3%	-4↑22.9%	0↑104.9%	-0↓178.1%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

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