Performance Shipping

PSHG

Marine Shipping · Industrials

Exchange

NASDAQ Capital Market

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

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

How the score breaks down

Quality

Good

Growth

Mixed

Cash Flow

Good

Stability

Good

Valuation

Good

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Winston Score History

The full picture

Performance Shipping Inc. is a Greek-based company that owns and operates a small fleet of tanker ships. These ships carry petroleum products — like refined oil and chemicals — across oceans for energy companies, traders, and industrial customers. The company operates in the marine shipping industry, which moves liquid cargo between ports around the world.

Performance Shipping earns money by chartering out its vessels, meaning customers pay a daily rate to use the ships for a set period of time. The company is quite small, with a market cap under $100 million and a fleet of just a handful of tankers, giving it limited pricing power compared to larger shipping rivals. Its main risk is that tanker charter rates are highly cyclical and can drop sharply when global oil demand weakens or when too many new ships enter the market, which would directly hurt the company's revenue and profitability.

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

+91.0% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+62.3% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

8.3%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$106M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Revenue accelerating

Performance Shipping grew revenue 91% 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

54.9%

Healthy — 54.9% gross margin

Profit after running costs

Operating Margin

49.3%

Excellent — 49.3% operating margin

Return on the money invested

ROCE

7.2%

Weak — 7.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+34.6%

Fast-growing sales (+34.6% YoY)

Profit growth

EPS YoY

-41.5%

Earnings shrinking (-41.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

197%

Turns 197% of profit into real cash

Spare cash per sale

FCF Margin

-227.8%

Burning cash (-227.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.90

Moderate — manageable debt (0.90)

Covers its interest

Interest Cover

2.75x

Tight — interest eats into profit (2.8x)

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)

0.6x

no trend

Attractive valuation — P/E 0.6

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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