Himalaya Shipping

HSHP

Marine Shipping · Industrials

Also trades as: HSHP.OL

Exchange

New York Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Exceptional

Growth

Good

Cash Flow

Exceptional

Stability

Weak

Valuation

Strong

Dividends

Exceptional

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Winston Score History

The full picture

Himalaya Shipping is a dry bulk shipping company that transports large quantities of raw materials — like coal, grain, and iron ore — across the world's oceans. Its customers are typically commodity traders, mining companies, and industrial firms that need to move massive amounts of cargo between continents. The company operates a fleet of Newcastlemax vessels, which are among the largest dry bulk ships in the world.

Himalaya Shipping earns money by charging customers to use its ships, either through long-term contracts called time charters or by renting ships out at daily market rates. The company is headquartered in Bermuda and operates globally, with routes connecting major commodity-producing and consuming regions. Its modern, fuel-efficient fleet gives it a cost advantage over older ships, but the business is heavily exposed to volatile freight rates, which can swing sharply depending on global trade volumes and economic conditions.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+79.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

33.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$35M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Himalaya Shipping grew revenue 80% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

85.5%

Premium pricing power — 85.5% gross margin

Profit after running costs

Operating Margin

68.3%

Excellent — 68.3% operating margin

Return on the money invested

ROCE

62.6%

Exceptional — 62.6% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+38.6%

Fast-growing sales (+38.6% YoY)

Profit growth

EPS YoY

+669.8%

Earnings growing fast (+669.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

166%

Turns 166% of profit into real cash

Spare cash per sale

FCF Margin

52.1%

Converts sales into free cash efficiently (52.1%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

2.68x

Tight — interest eats into profit (2.7x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

14.2x

no trend

Attractive valuation — P/E 14.2

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+4.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (14.2 → 10.2)

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Dividends

Dividend

Dividend Yield

8.56%

no trend

Healthy income — 8.56% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+85.7%

no trend

Dividend growing fast (85.7% YoY)

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