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DSX

Diana Shipping Inc.

DSX

Diana Shipping Inc. • NYSE
$1.97 ▲ 9.44% (+0.17)
Market Cap $228.07 M
52w High $2.00
52w Low $1.27
Dividend Yield 0.04%
P/E 13.13
Volume 1.04M
Outstanding Shares 115.77M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $51.861M ▼ $8.271M ▼ $7.158M ▲ 13.802% ▲ $0.052 ▲ $29.498M ▲
Q2-2025 $54.688M ▼ $9.247M ▲ $4.542M ▲ 8.305% ▲ $0.028 ▲ $26.95M ▲
Q1-2025 $54.937M ▼ $7.187M ▼ $2.997M ▼ 5.455% ▼ $0.014 ▼ $25.318M ▼
Q4-2024 $57.073M ▼ $19.808M ▲ $9.737M ▲ 17.061% ▲ $0.07 ▲ $25.739M ▼
Q3-2024 $57.488M $4.672M $3.715M 6.462% $0.019 $27.13M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $248.013M ▲ $1.184B ▲ $684.126M ▲ $499.731M ▲
Q2-2025 $155.451M ▼ $1.131B ▼ $638.373M ▼ $492.842M ▲
Q1-2025 $187.653M ▼ $1.144B ▼ $658.835M ▼ $484.812M ▼
Q4-2024 $188.166M ▲ $1.171B ▲ $665.961M ▲ $505.057M ▲
Q3-2024 $186.805M $1.161B $665.758M $495.444M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $7.158M ▲ $15.216M ▲ $-44.033M ▼ $39.105M ▲ $28.761M ▲ $0
Q2-2025 $4.542M ▲ $0 $0 $0 $0 $0
Q1-2025 $2.997M ▼ $0 ▼ $0 ▲ $0 ▼ $0 ▲ $0
Q4-2024 $9.737M ▲ $8.106M ▼ $-30.013M ▼ $13.146M ▲ $-27.139M ▼ $0
Q3-2024 $3.715M $20.114M $4.351M $7.608M $51.264M $0

Five-Year Company Overview

Income Statement

Income Statement Revenue and profits clearly follow the shipping cycle. Results improved sharply from the weak period in 2020, peaked around 2022, and then eased back in 2023–2024 as freight markets cooled. The company is still profitable, but earnings have come down a lot from the boom years, and net income in the most recent year is only slightly positive. Overall, DSX looks like a typical cyclical ship owner: solid margins in good markets, thin margins when rates soften, and significant swings in per‑share earnings over short periods.

Balance Sheet

Balance Sheet The balance sheet shows a classic asset‑heavy shipping company: a sizeable fleet, meaningful debt, and a reasonable but not huge equity cushion. Total assets have stayed broadly stable in recent years, suggesting a steady fleet base. Debt sits on the high side relative to equity, so leverage is a key feature to watch, but it has not blown out. Cash levels are modest but consistent, implying adequate day‑to‑day liquidity rather than a large war chest. Overall, DSX looks financially disciplined but clearly reliant on debt financing, as is common in this industry.

Cash Flow

Cash Flow The business consistently generates cash from operations, even in weaker years, which is a positive sign for the underlying economics of the fleet. Free cash flow has generally been positive, except in the year when the company ramped up investment in its vessels, which temporarily pushed free cash flow negative. That pattern suggests DSX tends to self‑fund routine needs and occasionally leans more heavily on capital spending when it sees opportunities to renew or expand the fleet. Cash flow quality looks decent, but timing of investments can create lumpiness year to year.

Competitive Edge

Competitive Edge DSX operates in a very competitive and cyclical dry bulk market, where no single player has overwhelming pricing power. Its edge comes more from execution than from uniqueness: a diversified and reasonably modern fleet, high utilization, and a conservative chartering mix that locks in a good portion of capacity on time charters. This approach helps smooth revenue compared with pure spot operators. Long‑standing relationships with major charterers and lenders, along with an experienced management team, support its reputation. However, the overall moat remains moderate because the underlying service—moving bulk cargo—is still largely commoditized and rate‑driven.

Innovation and R&D

Innovation and R&D Innovation at DSX is practical and operations‑focused rather than headline‑grabbing. The company is investing in digital tools (cloud systems, automation, vessel connectivity) to improve efficiency, oversight, and compliance. It has strengthened cybersecurity and environmental monitoring, which are increasingly important for global operators. On the hardware side, DSX is testing future‑oriented technologies such as methanol dual‑fuel vessels and onboard carbon capture, and it is exploring diversification in adjacent shipping segments. These steps position the company reasonably well for tightening environmental rules, even though it is not a pure technology leader.

Summary

DSX looks like a disciplined, mid‑cycle dry bulk owner that benefited strongly from the recent industry upswing and is now navigating a cooler market with thinner but still positive profits. The balance sheet shows typical shipping leverage but appears controlled, and cash generation has been generally healthy, with spikes in spending tied to fleet investments. Strategically, DSX focuses on risk‑managed chartering, operational reliability, and gradual modernization, including cleaner fuels and digital tools. Key uncertainties center on freight rate volatility, execution of its growth and decarbonization plans, and integration or diversification moves. Its long‑term appeal depends on how well it balances leverage, environmental upgrades, and exposure to the shipping cycle.

NEWS

November 24, 2025 · 9:15 AM UTC

Diana Shipping Inc. Announces Proposal to Acquire Remaining Shares of Genco Shipping & Trading Limited

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November 21, 2025 · 9:25 AM UTC

Diana Shipping Inc. Announces Time Charter Contract for m/v Seattle with SwissMarine and the Sale of a Dry Bulk Vessel, the m/v DSI Drammen

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November 20, 2025 · 8:30 AM UTC

Diana Shipping Inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2025; Declares Cash Dividend of $0.01 Per Common Share for the Third Quarter 2025

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November 17, 2025 · 9:15 AM UTC

Diana Shipping Inc. Announces Time Charter Contract for m/v Electra With Oldendorff Carriers and Termination of Sale Agreement for m/v DSI Drammen

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November 11, 2025 · 9:10 AM UTC

Diana Shipping Inc. Announces the Date for the 2025 Third Quarter Financial Results, Conference Call and Webcast

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