United Maritime Corp key statistics and ratios

In fiscal 2025, United Maritime Corp had return on equity of -11.0%, an operating margin of -1.2%, debt equal to 92.1% of equity and a current ratio of 0.68. 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.

United Maritime Corp: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Operating margin	177.8%	19.6%	10.6%	−1.2%
Net margin	164.5%	0.6%	−7.4%	−16.4%
Free-cash-flow margin	−320.2%	−243.9%	6.6%	4.1%
Return on equity	58.1%	0.3%	−5.4%	−11.0%
Return on assets	29.8%	0.1%	−2.0%	−4.0%
Asset turnover	0.18	0.24	0.26	0.24
Current ratio	2.37	0.36	0.73	0.68
Debt to equity	66.9%	100.0%	133.9%	92.1%
Interest cover (operating income ÷ interest)	16.5x	1.0x	0.6x	n/m
Capital spending as % of revenue	354.8%	226.7%	0.5%	1.8%
Free cash flow ÷ net income	−194.6%	<−999%	—	—
Dividends ÷ net income	—	>999%	—	—
Dividends and buybacks ÷ free cash flow	—	—	103.2%	85.7%

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

0 of 6 checks passed · December 31, 2025

What it owns · $139m

Short-term assets $33mLonger-term assets $106m

What it owes, and who funded it · $135m

Short-term liabilities $49mLonger-term liabilities $34mShareholders' equity $53m

Short-term assets cover short-term liabilities $33m of assets due within a year against $49m of liabilities due within a year.
Short-term assets cover long-term liabilities $33m short-term assets against $34m of longer-dated liabilities.
More cash than debt $14m of cash against $48m of debt.
Debt below 40% of shareholders' equity Debt is 91% 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 $2m of operating cash flow against $48m of debt.
Operating profit covers interest at least five times over Operating income of −$455,000 against $6m of interest.

From United Maritime Corp'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

Head to head: PXS vs USEA CISS vs USEA GLBS vs USEA

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