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GASS

StealthGas Inc.

GASS

StealthGas Inc. • NASDAQ
$6.86 ▲ 1.33% (+0.09)
Market Cap $254.93 M
52w High $8.18
52w Low $4.82
Dividend Yield 0%
P/E 4.08
Volume 75.50K
Outstanding Shares 37.16M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $47.234M ▲ $3.241M ▼ $20.437M ▲ 43.268% ▲ $0.55 ▲ $27.603M ▲
Q1-2025 $42.026M ▼ $3.734M ▼ $14.108M ▼ 33.569% ▲ $0.4 ▲ $22.206M ▲
Q4-2024 $43.467M ▲ $4.1M ▲ $14.199M ▲ 32.665% ▲ $0.38 ▲ $21.781M ▲
Q3-2024 $40.445M ▼ $3.721M ▲ $12.145M ▼ 30.029% ▼ $0.33 ▼ $19.392M ▼
Q2-2024 $41.786M $3.479M $25.789M 61.715% $0.73 $23.494M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $86.254M ▲ $717.332M ▼ $55.095M ▼ $662.237M ▲
Q1-2025 $74.392M ▼ $717.656M ▼ $76.289M ▼ $641.367M ▲
Q4-2024 $80.653M ▲ $732.24M ▲ $105.713M ▼ $626.527M ▲
Q3-2024 $73.418M ▲ $720.42M ▼ $110.285M ▼ $610.135M ▲
Q2-2024 $71.375M $727.753M $131.448M $596.304M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $20.437M ▲ $26.311M ▼ $3.828M ▲ $-19.918M ▲ $10.221M ▲ $25.899M ▼
Q1-2025 $14.108M ▼ $27.731M ▲ $0 ▲ $-35.125M ▼ $-7.394M ▼ $27.731M ▲
Q4-2024 $14.199M ▲ $13.402M ▼ $-4.629M ▼ $-1.612M ▲ $7.161M ▲ $3.805M ▼
Q3-2024 $12.145M ▼ $22.148M ▼ $-158.97K ▼ $-21.277M ▲ $711.198K ▲ $21.987M ▼
Q2-2024 $25.789M $44.274M $2.041M $-53.241M $-6.987M $44.275M

Revenue by Products

Product Q1-2018Q1-2019Q4-2019Q1-2020
Bareboat
Bareboat
 $30.00M ▲$20.00M ▼$0 ▼$20.00M ▲
Other Income Revenues
Other Income Revenues
 $0 ▲$0 ▲$0 ▲$0 ▲
Time Charter
Time Charter
 $100.00M ▲$100.00M ▲$0 ▼$100.00M ▲
Voyage Charter
Voyage Charter
 $30.00M ▲$30.00M ▲$0 ▼$20.00M ▲
Ballast Bonus
Ballast Bonus
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been broadly stable over the past few years but has recently ticked higher, while profitability has improved much more noticeably. Operating profit and cash-style earnings have both strengthened, suggesting better vessel utilization, firmer charter rates, or tighter cost control. After a loss a few years ago, net income has turned consistently positive and has grown meaningfully year after year, indicating the business is now operating in a much healthier part of the shipping cycle. That said, the history of swings from loss to profit is a reminder that earnings can still be quite cyclical in this industry.

Balance Sheet

Balance Sheet The balance sheet has moved from being debt‑heavy to much more conservative. Total debt has been steadily reduced, while shareholders’ equity has built up, reflecting retained profits and a gradual de‑risking of the capital structure. Cash levels have improved compared with earlier years, giving the company more flexibility to handle industry downturns or invest when opportunities appear. Overall, the financial foundation looks stronger and less stretched than it was earlier in the decade.

Cash Flow

Cash Flow Cash generated from day‑to‑day operations has trended upward, broadly in line with the improvement in profits, which suggests that earnings quality is reasonably solid. Free cash flow has been positive in most years but has occasionally been pulled down by periods of heavier spending on vessels. Recently, a larger investment phase has kept free cash flow around breakeven, implying that management is channeling cash back into the fleet rather than letting it accumulate. This pattern is consistent with a capital‑intensive, cyclical business that invests in upcycles to refresh and modernize assets.

Competitive Edge

Competitive Edge StealthGas operates in a focused niche within marine shipping: small and medium‑sized LPG carriers. This specialization lets it serve ports and customers that larger vessels cannot, and helps build long‑term relationships with key energy and trading companies. A relatively modern, fuel‑efficient fleet and in‑house technical and commercial management support cost control, reliability, and safety, which are important differentiators in shipping. The strengthened balance sheet and flexible mix of short‑ and long‑term charters also provide tools to navigate volatile freight markets. However, the business still faces the usual industry pressures, including cyclical demand, changing trade flows, and regulatory requirements.

Innovation and R&D

Innovation and R&D The company’s innovation is mainly operational and fleet‑driven rather than traditional lab R&D. Its focus on “eco” vessels, fuel efficiency, and emission‑control technologies positions the fleet to comply with tightening environmental rules while keeping operating costs in check. Some ships can also handle a broader set of petrochemical gases and operate in harsher climates, which adds commercial flexibility. Looking forward, the main innovation levers are likely to be further fleet renewal, potential adoption of dual‑fuel or alternative‑fuel technologies, and ongoing optimization of routes and chartering rather than breakthrough technologies.

Summary

StealthGas has shifted from a more leveraged, uneven profitability profile to a business with cleaner finances and stronger, more consistent earnings. The combination of improving margins, reduced debt, and a modernized fleet suggests a company that has used the last several years to strengthen its foundation. At the same time, its core market remains cyclical and exposed to freight rates, energy trends, and environmental regulations. Overall, StealthGas appears to be a more resilient, financially disciplined operator in a niche segment of LPG shipping, balancing near‑term volatility with a strategy geared toward efficiency, compliance, and long‑term fleet quality.