DSX Stock Analysis: Diana Shipping | NYSE
Marine Shipping | NYSE, USA | Market Cap: 360m USD | 12M Return: 58.3% | MHY2066G1044 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 3.68M
EPS Trend: -42.4%
Qual. Beats: 0
Rev. Trend: -92.7%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Diana Shipping Inc. (DSX) is a global provider of dry bulk shipping transportation services, transporting commodities such as iron ore, coal, and grain along international shipping routes. The company operates through the ownership and bareboat charter-in of dry bulk carriers, with a fleet of 36 vessels as of December 31, 2025, comprising a mix of Ultramax, Panamax, Kamsarmax, Post-Panamax, Capesize, and Newcastlemax vessels with a combined carrying capacity of approximately 4.1 million deadweight tons (dwt). Incorporated in 1999 and headquartered in Athens, Greece, the company was renamed from Diana Shipping Investments Corp. to its current name in February 2005.
The dry bulk shipping industry is highly cyclical, with vessel demand closely tied to global commodity trade flows and industrial activity in major importing economies such as China. Operators like Diana Shipping typically generate revenue through time charter contracts, which lease vessels to cargo owners for set periods, providing more predictable cash flow compared to the volatile spot market tracked by benchmarks such as the Baltic Dry Index (BDI).
- BDI swings drive spot charter rates and quarterly TCE revenue
- China iron ore demand fuels Capesize utilization and freight rates
- Fleet renewal with Newcastlemax vessels raises operating costs
| Net Income: 60.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 1.56 > 1.0 |
| NWC/Revenue: 73.84% < 20% (prev 43.73%; Δ 30.11% < -1%) |
| CFO/TA 0.07 > 3% & CFO 86.8m > Net Income 60.2m |
| Net Debt (421.6m) to EBITDA (88.7m): 4.75 < 3 |
| Current Ratio: 2.18 > 1.5 & < 3 |
| Outstanding Shares: last quarter (116.7m) vs 12m ago 5.46% < -2% |
| Gross Margin: 34.52% > 18% (prev 37.95%; Δ -3.43% > 0.5%) |
| Asset Turnover: 18.56% > 50% (prev 19.82%; Δ -1.26% > 0%) |
| Interest Coverage Ratio: 1.13 > 6 (EBIT TTM 43.1m / Interest Expense TTM 38.2m) |
| A: 0.13 (Total Current Assets 294.6m - Total Current Liabilities 135.1m) / Total Assets 1.20b |
| B: -0.49 (Retained Earnings -583.9m / Total Assets 1.20b) |
| C: 0.04 (EBIT TTM 43.1m / Avg Total Assets 1.16b) |
| D: 0.86 (Book Value of Equity 551.5m / Total Liabilities 643.9m) |
| Altman-Z'' = 0.43 = B |
| DSRI: 1.32 (Receivables 6.68m/5.24m, Revenue 215.9m/224.2m) |
| GMI: 1.10 (GM 37.95% / 34.52%) |
| AQI: 0.80 (AQ_t 0.08 / AQ_t-1 0.10) |
| SGI: 0.96 (Revenue 215.9m / 224.2m) |
| TATA: -0.02 (NI 60.2m - CFO 86.8m) / TA 1.20b) |
| Beneish M = -2.82 (Cap -4..+1) = A |
As of September 27, 2026, the stock is trading at USD 2.80 with a total of 892,202 shares traded. Over the past week, the price has changed by -9.97%, over one month by +1.82%, over three months by +37.77% and over the past year by +58.28%.
Current recommended Stop Loss: 2.50 (which is 10.7% or 2.7 ATR below the current price).
Diana Shipping has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy DSX.
- StrongBuy: 1
- Buy: 0
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 3.8 | 35.7% |
P/E Trailing = 5.898
P/E Forward = 3.1928
P/S = 1.6651
P/B = 0.6588
P/EG = 1.4399
Revenue TTM = 215.9m USD
EBIT TTM = 43.1m USD
EBITDA TTM = 88.7m USD
Long Term Debt = 606.1m USD (from longTermDebt, last quarter)
Short Term Debt = 88.7m USD (from shortLongTermDebt, last quarter)
Debt = 694.7m USD (corrected: LT Debt 606.1m + ST Debt 88.7m)
Net Debt = 421.6m USD (calculated: Debt 694.7m - CCE 273.2m)
Enterprise Value = 781.1m USD (359.6m + Debt 694.7m - CCE 273.2m)
Interest Coverage Ratio = 1.13 (Ebit TTM 43.1m / Interest Expense TTM 38.2m)
EV/FCF = 13.78x (Enterprise Value 781.1m / FCF TTM 56.7m)
FCF Yield = 7.26% (FCF TTM 56.7m / Enterprise Value 781.1m)
FCF Margin = 26.25% (FCF TTM 56.7m / Revenue TTM 215.9m)
Net Margin = 27.88% (Net Income TTM 60.2m / Revenue TTM 215.9m)
Gross Margin = 34.52% ((Revenue TTM 215.9m - Cost of Revenue TTM 141.4m) / Revenue TTM)
Gross Margin QoQ = 36.23% (prev 36.91%)
Tobins Q-Ratio = 0.65 (Enterprise Value 781.1m / Total Assets 1.20b)
Interest Expense / Debt = 5.49% (Interest Expense 38.2m / Debt 694.7m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 34.0m (EBIT 43.1m * (1 - 21.00%))
Current Ratio = 2.18 (Total Current Assets 294.6m / Total Current Liabilities 135.1m)
Debt / Equity = 1.26 (Debt 694.7m / totalStockholderEquity, last quarter 551.5m)
Debt / EBITDA = 4.75 (Net Debt 421.6m / EBITDA 88.7m)
Debt / FCF = 7.44 (Net Debt 421.6m / FCF TTM 56.7m)
Total Stockholder Equity = 520.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 5.17% (Net Income 60.2m / Total Assets 1.20b)
RoE = 11.56% (Net Income TTM 60.2m / Total Stockholder Equity 520.9m)
RoCE = 3.82% (EBIT 43.1m / Capital Employed (Equity 520.9m + L.T.Debt 606.1m))
RoIC = 3.24% (NOPAT 34.0m / Invested Capital 1.05b)
WACC = 5.62% (E(359.6m)/V(1.05b) * Re(8.11%) + D(694.7m)/V(1.05b) * Rd(5.49%) * (1-Tc(0.21)))
Discount Rate = 8.11% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -18.50 | Cagr: 2.10%
[DCF] Terminal Value 77.97% ; FCFF base≈48.4m ; Y1≈55.5m ; Y5≈81.6m
[DCF] Fair Price = 6.49 (EV 1.23b - Net Debt 421.6m = Equity 806.9m / Shares 124.4m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -42.37 | EPS CAGR: -26.01% | SUE: 0.0 | # QB: 0
Revenue Correlation: -92.66 | Revenue CAGR: -8.21% | SUE: -0.11 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.10 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=0.42 | Chg30d=-30.00% | Revisions=-25% | GrowthEPS=+5857.4% | GrowthRev=+20.3%
EPS next Year (2027-12-31): EPS=0.58 | Chg30d=-3.33% | Revisions=+0% | GrowthEPS=+38.1% | GrowthRev=+8.7%