The company has issued more shares over this period, which dilutes each existing shareholder’s stake.
Diluted shares outstanding: 2K (2021) → 385K (2025)
OceanPal Inc. provides ocean-going transportation services worldwide. It owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal, and grains, as well as minor bulks, including steel products, cement, and fertilizers. As of December 31, 2023, the company’s fleet consists of three Panamax dry bulk carriers with a total cargo carrying capacity of approximately 223,546 dwt; and one MR2 product tanker vessel with a carrying capacity of 49,999 dwt. OceanPal Inc. was incorporated in 2021 and is based in Athens, Greece.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
-37.4% YoY
YoY Growth Rate
Revenue declining
-31.2% YoY
YoY Growth Rate
Earnings declining
$0/ year
0.0% of revenue
Below sector average (4%)
Research and development spending
Cash flow positive
$33M cash & investments
Quarterly Free Cash Flow
Company generates more cash than it spends — no dilution risk from fundraising
Oceanpal's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.
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.
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Negative ROIC means the business is losing money on every dollar invested in it.
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Free cash flow is negative. They are burning cash, not generating it.
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Modest yield. The bulk of any return needs to come from price appreciation.
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