Ardmore Shipping Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	310.2	405.78	395.98	445.74	192.48
Revenue Growth (YoY)	-23.56%	2.48%	-11.16%	131.57%	-12.53%
Cost of Revenue	204.09	219.21	214.79	232.9	161.51
Gross Profit	106.11	186.57	181.19	212.84	30.97
Selling, General & Admin	25.07	28.04	25.24	24.11	19.2
Operating Expenses	58.92	58.28	53.06	53.38	50.9
Operating Income	47.18	128.29	128.13	159.45	-19.93
Interest Expense	-6.11	-6.78	-11.41	-15.54	-16.2
Interest & Investment Income	0.96	1.82	1.82	0.47	0.06
Earnings From Equity Investments	-0.31	-4.51	-1.04	-0.2	-0.32
Other Non Operating Income (Expenses)	0.01	0.66	-0.26	2.96	0.28
EBT Excluding Unusual Items	41.72	119.47	117.24	147.15	-36.11
Gain (Loss) on Sale of Assets	-	12.32	-	-6.92	-
Other Unusual Items	-0.47	1.43	-	-1.58	-0.57
Pretax Income	41.26	133.22	117.24	138.66	-36.68
Income Tax Expense	0.24	0.22	0.44	0.21	0.15
Net Income	41.01	133.01	116.81	138.45	-36.83
Preferred Dividends & Other Adjustments	4.94	4.4	3.4	3.4	1.25
Net Income to Common	36.07	128.61	113.41	135.05	-38.09
Net Income Growth	-69.16%	13.87%	-15.63%	-	-
Shares Outstanding (Basic)	41	42	41	37	34
Shares Outstanding (Diluted)	41	42	42	38	34
Shares Change (YoY)	-2.93%	0.53%	9.02%	13.21%	1.93%
EPS (Basic)	0.89	3.09	2.76	3.63	-1.12
EPS (Diluted)	0.88	3.06	2.71	3.52	-1.12
EPS Growth	-71.24%	12.91%	-23.01%	-	-
Free Cash Flow	-39.07	99.43	134.23	120.4	-5.52
Free Cash Flow Per Share	-0.96	2.37	3.21	3.14	-0.16
Dividend Per Share	0.310	0.950	0.910	0.450	-
Dividend Growth	-67.37%	4.40%	102.22%	-	-
Gross Margin	34.21%	45.98%	45.76%	47.75%	16.09%
Operating Margin	15.21%	31.61%	32.36%	35.77%	-10.35%
Profit Margin	11.63%	31.69%	28.64%	30.30%	-19.79%
Free Cash Flow Margin	-12.60%	24.50%	33.90%	27.01%	-2.87%
EBITDA	81.03	158.53	155.95	188.73	11.78
EBITDA Margin	26.12%	39.07%	39.38%	42.34%	6.12%
D&A For EBITDA	33.85	30.24	27.82	29.28	31.7
EBIT	47.18	128.29	128.13	159.45	-19.93
EBIT Margin	15.21%	31.61%	32.36%	35.77%	-10.35%
Effective Tax Rate	0.58%	0.16%	0.37%	0.15%	-

Updated Feb 12, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q