United Maritime Corporation (USEA) 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

+209.9%

$7.75

vs $2.50 price

Levered DCF

-$61.03

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.47

Distress zone

Rating

Overall 2 / 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
P/E	-2.43×	-4.44×	168.87×	0.89×	2.01×	32.69×	-35.85×
P/B	0.28×	0.25×	0.32×	0.5×	5.07×	4.88×	0×
P/S	0.4×	0.33×	0.59×	1.41×	4.83×	8.65×	5.18×
EV / EBITDA	5.96×	7.64×	23.77×	0.48×	11.36×	16.94×	0×
Gross margin	16.5%	52.6%	9.0%	45.9%	52.3%	22.8%	18.0%
Operating margin	-0.2%	10.6%	19.6%	177.8%	39.4%	7.3%	8.6%
Net margin	-16.4%	-7.4%	0.6%	164.5%	29.3%	26.5%	-4.0%
Current ratio	0.68×	0.73×	0.36×	2.37×	0.48×	0.44×	0×
Debt / equity	1.23×	1.63×	1.46×	0.66×	0.76×	0.83×	0×
Interest coverage	-0.01×	0.57×	0.99×	16.52×	3.92×	0.42×	0.68×
Dividend yield	7.4%	17.5%	43.9%	0.8%	0.0%	0.0%	0.0%
Payout ratio	-18.1%	-78.1%	4237.1%	0.6%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-11.7%	-5.6%	0.3%	58.1%	30.8%	14.9%	0.0%
Return on invested capital	-0.1%	3.0%	4.4%	37.5%	23.3%	2.2%	0.0%
Return on assets	-4.5%	-2.0%	0.1%	29.8%	16.2%	7.8%	0.0%
Free cash flow yield	9.7%	20.0%	-412.7%	-266.7%	10.1%	-1.3%	1.7%
Earnings yield	-41.1%	-22.4%	1.0%	116.7%	6.1%	3.1%	-0.8%
Enterprise value	$65.7M	$106.4M	$103.5M	$20M	$40.3M	$41.4M	$0
Net debt / EBITDA	4.6×	6.55×	18.87×	-0.29×	1.3×	2.32×	0×
Cash conversion cycle (days)	-6	-8	-25	-74	-14	-7	0