Euroseas Ltd. (ESEA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+108.2%

$135.45

vs $65.06 price

Levered DCF

$5.42

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.92

Grey zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	2.77×	1.82×	1.53×	1.01×	3.34×	7.62×	-1.86×	-59.09×
P/B	0.82×	0.56×	0.66×	0.64×	1.84×	0.72×	0.34×	0.29×
P/S	1.66×	0.96×	0.93×	0.59×	1.51×	0.48×	0.24×	0.19×
EV / EBITDA	2.32×	2.25×	1.72×	1.46×	4.39×	6.18×	16.55×	6.33×
Gross margin	63.5%	59.8%	63.3%	62.7%	55.6%	23.7%	20.2%	20.6%
Operating margin	57.0%	56.4%	63.1%	58.4%	48.7%	17.4%	4.9%	6.8%
Net margin	60.1%	53.0%	60.5%	58.2%	45.8%	7.6%	-4.2%	-0.3%
Current ratio	4.89×	1.48×	1.29×	0.64×	0.89×	0.34×	0.25×	1.03×
Debt / equity	0.47×	0.57×	0.49×	0.64×	1.54×	1.96×	3.18×	1.62×
Interest coverage	8.67×	11.3×	18.57×	21.02×	16.45×	2.25×	0.58×	0.77×
Dividend yield	5.0%	8.2%	8.0%	10.0%	0.3%	1.3%	10.9%	0.0%
Payout ratio	13.8%	14.9%	12.2%	10.2%	1.0%	7.9%	-61.3%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	29.6%	31.1%	43.0%	63.2%	55.9%	11.4%	-6.0%	-0.5%
Return on invested capital	19.1%	21.0%	29.5%	34.4%	21.4%	8.8%	1.7%	3.9%
Return on assets	19.6%	19.1%	27.0%	32.3%	19.4%	3.7%	-1.3%	-0.2%
Free cash flow yield	16.9%	-24.8%	10.1%	21.7%	-15.2%	6.9%	-555.1%	-22.9%
Earnings yield	36.1%	55.0%	65.2%	98.6%	30.4%	15.9%	-17.8%	-1.7%
Enterprise value	$418.9M	$336.6M	$247M	$189.1M	$232.7M	$91.2M	$98M	$36.1M
Net debt / EBITDA	0.22×	0.88×	0.5×	0.63×	1.73×	4.45×	14.95×	5.2×
Cash conversion cycle (days)	14	-2	-9	-3	7	16	-2	24