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Ardmore Shipping Corporation

Ardmore Shipping Corporation

NYSE•ASC
CEO: Mr. Gernot Ruppelt
Sector: Industrials
Industry: Marine Shipping
Listing Date: 2013-08-01
Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers. Ardmore Shipping Corporation was founded in 2010 and is headquartered in Pembroke, Bermuda.
Contact Information
Belvedere Building, Ground Floor 69 Pitts Bay Road, Pembroke, HM08, Bermuda
N/A
ardmoreshipping.com
Market Cap
$487.56M
P/E (TTM)
13.3
12.9
Dividend Yield
2.6%
52W High
$13.56
52W Low
$8.32
52W Range
70%
Rank43Top 50.7%
3.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$81.25M-15.47%
4-Quarter Trend

EPS

$0.30-45.45%
4-Quarter Trend

FCF

-$90.04M-333.16%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Net Income Rises 14% Net Income reached $133.01M USD, marking a strong 14% increase over 2023 results. Common stockholder income grew 13%.
Revenue Growth 2% Net Revenue increased 2% to $405.78M USD for 2024, driven by higher spot rates. Average TCE rate rose to $30,261 per day.
Vessel Sale Realizes Gain Sold the Ardmore Seafarer in April 2024, recognizing a significant $12.32M USD gain on the transaction. Depreciation ceased upon reclassification.
Strong Liquidity Maintained Total liquidity stood at $243.4M USD as of year-end 2024, supporting operations and capital needs. Debt facilities remain compliant.

Risk Factors

Tanker Industry Volatility Industry remains cyclical and volatile regarding charter rates and profitability, potentially impacting ability to charter vessels profitably.
Geopolitical Conflict Impact Ongoing Ukraine conflict and Red Sea attacks disrupt trade patterns, causing instability and uncertainty in global financial markets.
Financing Covenant Breaches Vessel market value decreases could trigger breaches in credit facility covenants or result in impairment charges. Minimum cash covenants apply.
Regulatory Compliance Costs Compliance with evolving environmental regulations like IMO GHG strategy may require substantial capital expenditures and increase operating costs.

Outlook

Fleet Modernization Focus Strategy emphasizes disciplined growth via selective acquisitions and maintaining a modern, fuel-efficient fleet composition. Average owned age is 10.3 years.
Energy Transition Strategy ETP anticipates activity migrating toward non-fossil fuel cargoes; 15.8% of 2024 business involved non-fossil fuels. Partnerships are key.
Capital Allocation Priorities Priorities focus on fleet maintenance, financial strength, and accretive growth before returning capital to shareholders via variable dividends.
Scrubber Installation Planned Four additional scrubber system installations are scheduled for 2025, timed to coincide with planned drydocking schedules. Investment estimated at $2.0M per vessel.

Peer Comparison

Revenue (TTM)

Pangaea Logistics Solutions, Ltd.PANL
$595.34M
+14.2%
Smith & Wesson Brands, Inc.SWBI
$466.39M
-9.4%
Ennis, Inc.EBF
$388.74M
-2.7%

Gross Margin (Latest Quarter)

SBC Medical Group Holdings IncorporatedSBC
70.6%
-10.8pp
Euroseas Ltd.ESEA
62.8%
-0.1pp
Safe Bulkers, Inc.SB
39.4%
-5.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
SB$520.85M11.45.6%37.6%
ASC$487.56M13.35.5%14.8%
EBF$479.61M11.313.6%1.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-0.3%
Flat Growth
4Q Net Income CAGR
22.6%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 6, 2026
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EPS:-
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Revenue:-
Reports
All Years

  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 7, 2025|
    Revenue: $405.78M+2.5%
    |
    EPS: $3.09+12.0%
    Beat

  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 15, 2024|
    Revenue: $395.98M-11.2%
    |
    EPS: $2.76-24.0%
    Meet

  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Mar 24, 2023|
    Revenue: $445.74M+131.6%
    |
    EPS: $3.63+436.1%
    Meet

  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Mar 11, 2022|
    Revenue: $192.48M-12.5%
    |
    EPS: $-1.08-500.0%
    Beat

  • Form 20-F - FY 2020

    Period End: Dec 31, 2020|Filed: Mar 5, 2021|
    Revenue: $220.06M-4.3%
    |
    EPS: $-0.18+73.9%
    Miss