Seanergy Maritime Holdings Corp. (SHIP) 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

-159.1%

-$8.69

vs $14.71 price

Levered DCF

-$19.32

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.6

Distress zone

Rating

A-

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	9.05×	3.29×	63.17×	5.11×	3.37×	-0.97×	-0.7×	-0.89×
P/B	0.67×	0.53×	0.61×	0.39×	0.57×	0.19×	0.28×	0.88×
P/S	1.2×	0.83×	1.26×	0.69×	0.91×	0.28×	0.1×	0.2×
EV / EBITDA	5.26×	4.05×	7.81×	5.98×	4.62×	10.18×	13.5×	15.75×
Gross margin	39.6%	70.0%	36.7%	43.0%	54.3%	11.7%	23.0%	19.7%
Operating margin	26.0%	37.4%	19.4%	23.7%	43.0%	-0.4%	13.9%	4.7%
Net margin	13.2%	26.0%	2.1%	13.8%	27.0%	-29.0%	-13.5%	-23.0%
Current ratio	0.71×	0.74×	0.36×	0.65×	0.54×	0.99×	0.06×	0.47×
Debt / equity	1.03×	0.98×	1.02×	1.16×	0.91×	1.93×	6.62×	10.62×
Interest coverage	1.89×	3.34×	1.17×	2.41×	6.08×	-0.01×	0.51×	0.17×
Dividend yield	5.0%	7.8%	4.3%	20.7%	0.0%	0.0%	0.0%	0.0%
Payout ratio	45.5%	24.7%	264.3%	104.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.4%	16.6%	1.0%	7.8%	16.9%	-19.2%	-39.2%	-98.8%
Return on invested capital	7.2%	11.7%	4.6%	6.2%	14.1%	-0.1%	5.2%	1.7%
Return on assets	3.4%	8.0%	0.5%	3.4%	8.5%	-6.2%	-4.1%	-7.9%
Free cash flow yield	9.0%	0.7%	22.1%	-38.3%	-83.6%	-168.6%	9.2%	-137.7%
Earnings yield	11.0%	31.5%	1.6%	19.9%	29.7%	-103.2%	-141.2%	-112.6%
Enterprise value	$416.5M	$374.2M	$353M	$316.7M	$320.6M	$181.1M	$191.4M	$238.3M
Net debt / EBITDA	2.88×	2.55×	4.72×	4.35×	2.61×	9.18×	12.92×	14.52×
Cash conversion cycle (days)	-27	-23	-17	-25	-23	11	-60	-35