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IMPPP

Imperial Petroleum Inc.

IMPPP

Imperial Petroleum Inc. • NASDAQ
$25.80 ▼ -0.54% (-0.14)
Market Cap $845.54 M
52w High $26.07
52w Low $22.91
Dividend Yield 2.19%
P/E -65.82
Volume 427
Outstanding Shares 32.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $36.349M ▲ $1.63M ▼ $12.759M ▲ 35.103% ▼ $0.36 ▲ $19.344M ▲
Q1-2025 $32.092M ▲ $1.689M ▼ $11.291M ▲ 35.183% ▲ $0.32 ▲ $16.9M ▲
Q4-2024 $26.212M ▼ $5.907M ▲ $3.918M ▼ 14.947% ▼ $0.1 ▼ $8.661M ▼
Q3-2024 $33.023M ▼ $1.637M ▲ $10.061M ▼ 30.467% ▼ $0.32 ▼ $14.465M ▼
Q2-2024 $47.042M $1.578M $19.524M 41.503% $0.7 $23.738M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $212.19M ▼ $594.779M ▲ $149.371M ▲ $445.408M ▲
Q1-2025 $227.421M ▲ $483.045M ▲ $50.633M ▲ $432.412M ▲
Q4-2024 $206.732M ▲ $449.505M ▲ $28.837M ▲ $420.668M ▲
Q3-2024 $199.17M ▲ $444.328M ▲ $28.261M ▲ $416.067M ▲
Q2-2024 $129.751M $412.581M $13.776M $398.805M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $12.759M ▲ $21.347M ▲ $17.042M ▼ $-37.225M ▼ $1.163M ▼ $21.322M ▲
Q1-2025 $11.291M ▲ $20.677M ▲ $38.402M ▲ $-342.616K ▼ $58.737M ▲ $20.673M ▲
Q4-2024 $3.918M ▼ $9.079M ▼ $-108.409M ▼ $-35.486K ▼ $-99.365M ▼ $9M ▼
Q3-2024 $10.061M ▼ $29.315M ▲ $61.765M ▲ $6.329M ▲ $97.41M ▲ $27.579M ▲
Q2-2024 $19.524M $20.658M $12.385M $1.365M $34.407M $20.058M

Five-Year Company Overview

Income Statement

Income Statement Imperial Petroleum has shifted from very small, loss‑making operations a few years ago to a clearly profitable business more recently. Revenue has grown steadily as the fleet has expanded and utilization improved. Margins look healthy for a shipping company, with operating and net profits tracking close to each other, which suggests limited hidden costs or unusual items. However, earnings per share have been quite volatile over time and are affected by past share structure changes, so headline profit per share figures should be viewed with caution and in the context of a young, fast‑changing company in a highly cyclical industry.

Balance Sheet

Balance Sheet The balance sheet is a major strength. Assets have grown meaningfully as the company has invested in vessels, and most of this is backed by equity rather than borrowings. Debt has been paid down to effectively zero, leaving the company in a net cash or near‑net‑cash position. Equity has increased year after year, indicating that retained profits and past capital raises have been used to build tangible value on the balance sheet. Overall, it looks like a conservative, liquid financial position for a shipping business, which may help the company weather downturns and act quickly when attractive vessel deals appear.

Cash Flow

Cash Flow Operating cash flow is consistently positive and has grown alongside profits, showing that reported earnings are largely supported by real cash generation. The company has been spending heavily on capital expenditures, especially during the fleet expansion phase, which in one year turned free cash flow negative. More recently, free cash flow has turned positive again, implying that investment intensity may be moderating or that cash generation has caught up with the higher asset base. The pattern fits a company in expansion mode: cash coming in from operations, a sizable portion reinvested into vessels, and gradually improving flexibility as the fleet and earnings base grow.

Competitive Edge

Competitive Edge Imperial Petroleum’s edge is less about unique technology and more about financial discipline and fleet strategy. A debt‑free, cash‑rich balance sheet is unusual in a traditionally leveraged shipping sector and gives the company room to maneuver when markets are volatile. A diversified fleet across product tankers, crude tankers, and dry bulk helps spread risk across different shipping cycles, although the business remains firmly tied to global trade and energy flows. The mixed use of spot and time charters allows management to seek upside in strong markets while locking in some stability. At the same time, the company competes in a fragmented, cyclical industry with little structural pricing power, so its advantages are mainly about cost position, timing, and capital discipline rather than a deep, defensible moat.

Innovation and R&D

Innovation and R&D The company does not rely on breakthrough research or proprietary technology. Instead, it focuses on practical innovation: operating a relatively modern, fuel‑efficient fleet, adopting common industry software for route planning, fuel optimization, and maintenance, and aligning with evolving environmental rules. This “fast follower” approach aims to keep operating costs competitive and vessels compliant without large, risky R&D programs. The main innovation risk is not falling behind industry standards in emissions and efficiency, while the main opportunity is to selectively adopt greener and more efficient technologies as they become commercially attractive.

Summary

Imperial Petroleum is a young public company that has moved quickly from a very small base to a profitable, asset‑rich shipping platform. Financially, it shows a rare combination in this sector: solid profitability, no debt, growing equity, and generally healthy cash generation, all supported by active reinvestment into its fleet. Strategically, it leans on financial strength, fleet diversification, and flexible chartering rather than on proprietary technology. The main positives are balance sheet resilience and earnings momentum; the main risks are the usual shipping pressures: exposure to freight rate cycles, vessel values, regulatory changes, and capital allocation decisions during expansion. Overall, it looks like a financially cautious operator in a structurally volatile industry, where future outcomes will depend heavily on how well management times the cycle and continues to allocate capital.