Himalaya Shipping Ltd. key statistics and ratios

In fiscal 2025, Himalaya Shipping Ltd. had return on equity of 11.2%, an operating margin of 51.7%, debt equal to 433.3% of equity and a current ratio of 1.08. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Himalaya Shipping Ltd.: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	—	76.6%	80.7%	78.8%
Operating margin	—	39.8%	54.0%	51.7%
Net margin	—	4.1%	17.1%	13.4%
Return on equity	−2.2%	1.2%	13.7%	11.2%
Return on assets	−1.1%	0.4%	2.9%	2.0%
Asset turnover	—	0.09	0.17	0.15
Current ratio	0.06	1.30	0.75	1.08
Debt to equity	82.8%	294.2%	470.5%	433.3%
Interest cover (operating income ÷ interest)	—	1.1x	1.4x	1.3x
Dividends ÷ net income	—	0.0%	97.6%	152.0%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 6 checks passed · December 31, 2025

What it owns · $864m

Short-term assets $40mLonger-term assets $824m

What it owes, and who funded it · $864m

Short-term liabilities $37mLonger-term liabilities $666mShareholders' equity $162m

Short-term assets cover short-term liabilities $40m of assets due within a year against $37m of liabilities due within a year.
Short-term assets cover long-term liabilities $40m short-term assets against $666m of longer-dated liabilities.
More cash than debt $32m of cash against $689m of debt.
Debt below 40% of shareholders' equity Debt is 426% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $52m of operating cash flow against $689m of debt.
Operating profit covers interest at least five times over Operating income of $68m against $51m of interest.

From Himalaya Shipping Ltd.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Himalaya Shipping Ltd.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Himalaya Shipping Ltd.