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ESEA

Euroseas Ltd.

ESEA

Euroseas Ltd. • NASDAQ
$60.29 ▲ 0.70% (+0.42)
Market Cap $422.43 M
52w High $66.00
52w Low $24.58
Dividend Yield 2.60%
P/E 3.47
Volume 13.25K
Outstanding Shares 7.01M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $56.906M ▼ $3.214M ▲ $29.696M ▼ 52.184% ▲ $4.28 ▼ $39.916M ▼
Q2-2025 $57.234M ▲ $3.201M ▲ $29.862M ▼ 52.175% ▼ $4.32 ▼ $41.09M ▼
Q1-2025 $56.346M ▲ $-6.476M ▼ $36.915M ▲ 65.515% ▲ $5.31 ▲ $48.868M ▲
Q4-2024 $53.308M ▼ $3.972M ▲ $24.392M ▼ 45.756% ▼ $3.51 ▼ $35.328M ▼
Q3-2024 $54.146M $3.409M $27.633M 51.034% $3.97 $37.568M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $106.088M ▲ $674.767M ▲ $246.691M ▼ $428.076M ▲
Q2-2025 $100.506M ▲ $662.109M ▲ $259.129M ▼ $402.98M ▲
Q1-2025 $88.333M ▲ $648.753M ▲ $271.494M ▲ $377.259M ▲
Q4-2024 $73.74M ▼ $591.219M ▲ $228.269M ▼ $362.95M ▲
Q3-2024 $77.341M $580.856M $237.451M $343.405M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $29.696M ▼ $34.237M ▲ $-19.67M ▼ $-14.86M ▼ $-293.432K ▼ $14.566M ▼
Q2-2025 $29.862M ▼ $27.234M ▼ $4.628M ▲ $-14.725M ▼ $17.137M ▲ $26.862M ▲
Q1-2025 $36.915M ▲ $41.225M ▲ $-43.805M ▼ $17.457M ▲ $14.878M ▲ $-15.455M ▼
Q4-2024 $24.392M ▼ $35.28M ▲ $-20.761M ▲ $-18.14M ▼ $-3.621M ▼ $14.519M ▲
Q3-2024 $27.633M $33.49M $-33.091M $7.575M $7.974M $399.281K

Five-Year Company Overview

Income Statement

Income Statement Euroseas has shifted from being a marginally profitable operator to a highly profitable one over the last several years. Revenue has climbed strongly since 2020, and profit margins look unusually high for a shipping company, suggesting efficient operations and good charter rates. Earnings have been consistently strong for the last three years, not just a one‑off spike, which indicates that management locked in attractive contracts during the strong freight market. The main risk is that this level of profitability depends on a cyclical industry; if charter rates normalize, today’s very strong margins could compress quite a bit.

Balance Sheet

Balance Sheet The balance sheet shows a company that has been scaling up. Total assets have grown meaningfully as the fleet has expanded, and equity has increased faster than debt, which points to a healthier capital base over time. Debt has risen, but it appears balanced by a growing, more valuable fleet and higher retained earnings rather than by financial distress. Cash reserves are noticeably higher than a few years ago, giving the company more flexibility, though this is still a capital‑intensive, leveraged business that will always carry some balance‑sheet risk if the cycle turns.

Cash Flow

Cash Flow Operating cash flow is solid and closely tracks the strong profitability, showing that earnings are backed by real cash, not just accounting. Free cash flow, however, has recently turned negative because the company is investing heavily in new and upgraded vessels. This is not inherently a red flag; it reflects a deliberate choice to reinvest in the fleet rather than to hoard cash. The trade‑off is that Euroseas is more dependent on future charter income and resale values to justify today’s high investment pace, which adds some execution and cycle risk.

Competitive Edge

Competitive Edge Euroseas competes in a volatile but specialized corner of the container market, focusing on smaller and mid‑sized ships that link big hubs to regional ports. This niche, combined with long‑term, fixed‑rate charters, helps smooth earnings and reduces exposure to short‑term spot market swings. A long‑tenured, family‑led management team with deep industry relationships is a clear soft advantage, particularly for securing charters and financing. At the same time, the company is still a relatively small player in a cyclical, commodity‑like industry, so its bargaining power against large cargo owners and shipyards has natural limits.

Innovation and R&D

Innovation and R&D Innovation at Euroseas is driven mainly through capital spending on a greener, more efficient fleet rather than through traditional research labs. The company is actively ordering and deploying modern “eco‑design” ships and retrofitting older ones with energy‑saving technologies to cut fuel use and emissions. Many new vessels are designed to be ready for cleaner fuels and shore‑power connections, which should help with tightening environmental rules and operating costs. There is less visible emphasis on digital tools and data analytics compared with the hardware side, so the innovation story is strong on engineering and compliance, but less clearly articulated on software and automation.

Summary

Euroseas today looks like a lean, highly profitable container shipping company that used the recent strong market to lock in high‑margin business and upgrade its fleet. Financially, it has moved from modest scale and thin profits to a larger balance sheet with strong earnings, more equity, and healthy operating cash flow, albeit with heavier investment and somewhat higher debt. Strategically, its focus on feeder and intermediate ships, long‑term charters, and a greener, more modern fleet gives it a defined niche and some insulation from the worst of spot‑rate volatility. The main uncertainties revolve around the inherent shipping cycle—future charter rates, global trade flows, and regulation—as well as the challenge of earning attractive returns on the substantial capital now being deployed into new vessels.

NEWS

November 18, 2025 · 8:45 AM UTC

Euroseas Ltd. Reports Results for the Quarter and Nine-Month Period Ended September 30, 2025, Declares Quarterly Dividend and Announces Multi-Year Forward Charters for Five of Its Vessels Including its Four Vessels Under Construction

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September 12, 2025 · 9:10 AM UTC

Euroseas Ltd. Announces 1-year Charter Contract Extension for its Feeder Containership, M/V Jonathan P

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