Ardmore Shipping Corporation (ASC)

Ardmore Shipping Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	309.33	405.78	395.98	445.74	192.48	220.06
Revenue Growth (YoY)	-26.81%	2.48%	-11.16%	131.57%	-12.53%	-4.34%
Cost of Revenue	206.28	219.21	214.79	232.9	161.51	151.37
Gross Profit	103.04	186.57	181.19	212.84	30.97	68.69
Selling, General & Admin	26.72	28.04	25.24	24.11	19.2	17.9
Operating Expenses	58.86	58.28	53.06	53.38	50.9	50.09
Operating Income	44.19	128.29	128.13	159.45	-19.93	18.6
Interest Expense	-4.83	-6.78	-11.41	-15.54	-16.2	-18.17
Interest & Investment Income	1.04	1.82	1.82	0.47	0.06	0.28
Earnings From Equity Investments	-4.82	-4.51	-1.04	-0.2	-0.32	-
Other Non Operating Income (Expenses)	0.68	0.66	-0.26	2.96	0.28	-0.11
EBT Excluding Unusual Items	36.26	119.47	117.24	147.15	-36.11	0.6
Gain (Loss) on Sale of Assets	-	12.32	-	-6.92	-	-6.45
Other Unusual Items	-0.47	1.43	-	-1.58	-0.57	-
Pretax Income	35.79	133.22	117.24	138.66	-36.68	-5.85
Income Tax Expense	0.21	0.22	0.44	0.21	0.15	0.2
Net Income	35.58	133.01	116.81	138.45	-36.83	-6.05
Preferred Dividends & Other Adjustments	3.75	4.4	3.4	3.4	1.25	-
Net Income to Common	31.82	128.61	113.41	135.05	-38.09	-6.05
Net Income Growth	-76.76%	13.87%	-15.63%	-	-	-
Shares Outstanding (Basic)	41	42	41	37	34	33
Shares Outstanding (Diluted)	41	42	42	38	34	33
Shares Change (YoY)	-2.53%	0.53%	9.02%	13.21%	1.93%	0.43%
EPS (Basic)	0.78	3.09	2.76	3.63	-1.12	-0.18
EPS (Diluted)	0.78	3.06	2.71	3.52	-1.12	-0.18
EPS Growth	-78.06%	12.91%	-23.01%	-	-	-
Free Cash Flow	-43.34	99.43	134.23	120.4	-5.52	25.19
Free Cash Flow Per Share	-1.06	2.37	3.21	3.14	-0.16	0.76
Dividend Per Share	0.300	0.950	0.910	0.450	-	-
Dividend Growth	-72.22%	4.40%	102.22%	-	-	-
Gross Margin	33.31%	45.98%	45.76%	47.75%	16.09%	31.21%
Operating Margin	14.29%	31.61%	32.36%	35.77%	-10.35%	8.45%
Profit Margin	10.29%	31.69%	28.64%	30.30%	-19.79%	-2.75%
Free Cash Flow Margin	-14.01%	24.50%	33.90%	27.01%	-2.87%	11.45%
EBITDA	76.32	158.53	155.95	188.73	11.78	50.79
EBITDA Margin	24.67%	39.07%	39.38%	42.34%	6.12%	23.08%
D&A For EBITDA	32.14	30.24	27.82	29.28	31.7	32.19
EBIT	44.19	128.29	128.13	159.45	-19.93	18.6
EBIT Margin	14.29%	31.61%	32.36%	35.77%	-10.35%	8.45%
Effective Tax Rate	0.60%	0.16%	0.37%	0.15%	-	-

Updated Nov 5, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q