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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Ardmore Shipping Corporation is a global enterprise dedicated to the maritime carriage of refined oil derivatives and various chemical substances. By February 15, 2022, the firm maintained an active fleet of 25 modern, twin-hulled vessels specifically designed for the transport of these product types. It caters to a diverse range of clientele, including prominent oil industry giants, independent petroleum companies, traders specializing in oil and chemical commodities, chemical manufacturing businesses, and organizations providing shipping pool services.
How they make money
Ardmore Shipping Corporation generates revenue primarily by providing seaborne transportation of petroleum products and chemicals worldwide. The company operates its fleet of MR product and chemical tankers through a combination of voyage charters, time charters, and commercial pools, earning income based on the charter rates negotiated for the transport of liquid cargoes.
Products & services
The company provides global seaborne transportation services for petroleum products and chemicals using a fleet of modern, fuel-efficient mid-size product and chemical tankers.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
The company does not disclose specific customer concentration figures in its 2025 Annual Report, noting that it serves a diverse range of oil majors, national oil companies, and traders.
Suppliers, materials & equipment
Shipyards — Unnamed shipyards providing vessel construction and drydocking services.Source
Bunker fuel suppliers — Unnamed suppliers of fuel for vessel operations.Source
Overall investment score · Quality, value, risk and opportunity
49
Weak
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
63
Fair
Financial Strength
56
Business Quality / Moat
28
Management
100
Growth Quality
69
Risk / Durability
90
Cheap for a Reason · Review the Risks
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
58
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
57/100
Building Historical Record
Model Score 57/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as moderate rather than unusually attractive.
The model outlook is currently moderate.
What we like
•Recent buyback activity is present
What to watch
•Revenue fundamentals are weak
•Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for ASC
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can ASC maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•How long can ASC fund negative free cash flow using its current cash position before it may need more debt or new shares?
•Does ASC's balance between cash and debt leave enough flexibility if business conditions weaken?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for ASC
Detected from reported data — verify before acting.
Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on ASC.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Modern, fuel-efficient fleet.
+Strong commercial and technical management relationships.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Marine Shipping industry.
−Volatility in tanker charter rates.
−Geopolitical disruptions affecting global trade.
−Operational risks inherent in marine transportation.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Weak49/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Weak
40
Debt Cost4.7%
Debt Reduction YoY-191.3%
Debt / Equity0.20x
Tap for breakdown →
Revenue
Weak
47
Revenue YoY18.7%
Revenue CAGR-11.5%
Net Margin29.7%
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Asset
Fair
60
Asset Growth YoY11.9%
Liquidation/Share$17.15
Net Assets/MCap0.95x
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Capital
Strong
77
Earnings Yield14.4%
Buyback Yield1.6%
Debt Cost4.7%
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Management
Elite
100
ROIC11.7%
ROE15.6%
ROA14.4%
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Moat
Poor
28
EPS Growth-37.5%
FCF/Share Growth—
Rev/Share Growth-5.3%
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Valuation
Fair
56
Intrinsic Value$22.02
Value Reference$13.21
MOS7.2%
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Buffett
Fair
53
Revenue47
Moat28
Valuation56
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MOS
Poor
38
MOS %7.2%
Value Reference$13.21
Deep Discount Reference$8.81
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Financial
Poor
24
Interest Coverage13.3x
ROIC11.7%
FCF Yield-5.1%
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Master
Weak
49
Financial24
Valuation56
Debt40
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Resilience
Fair
60
Survival Years1.2 yrs
Current Ratio4.33x
FCF Margin-12.6%
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Score Changes
6 historical score records available
Previous Score
50
Sep 8, 2026
Change
-1.6
points
Current Score
49
Oct 1, 2026
Category Changes
Revenue-0.7
Debt0
Assets-1.2
Capital-1.0
Management0
Moat-2.0
Valuation-5.4
Buffett-1.2
ASC decreased 1.6 points because Moat declined by 2 points, Valuation declined by 5.4 points.
Negative Contributors
− Moat declined by 2 points
− Valuation declined by 5.4 points
Projected Score
Projected Score
56
Projected Change
+7.2 points
Preliminary comparable-period financial changes suggest improvement of approximately 7.2 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$368.3M
$310.2M
$405.8M
$396.0M
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Cost of Revenue
$228.9M
$204.1M
$249.5M
$228.9M
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Gross Profit
$139.4M
$106.1M
$156.3M
$167.1M
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Research & Development
$0.00
$0.00
$0.00
$0.00
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SG&A Expenses
$25.0M
$25.1M
$28.0M
$25.2M
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Operating Expenses
$25.0M
$25.1M
$28.0M
$35.4M
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EBITDA
$146.7M
$81.0M
$178.4M
$157.8M
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Operating Income
$114.4M
$81.0M
$128.3M
$131.7M
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Interest Expense
$8.0M
$6.1M
$6.8M
$11.4M
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Income Before Tax
$109.5M
$41.3M
$133.2M
$117.2M
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Income Tax Expense
$241K
$241K
$215K
$435K
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Net Income
$109.3M
$41.0M
$133.0M
$116.8M
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Basic EPS
$2.59
$0.88
$3.09
$2.76
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Basic Shares
40.81M
40.81M
41.66M
41.13M
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Diluted Shares
40.96M
40.81M
42.04M
41.82M
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Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Margins expanded
What Weakened
Cash position declined
Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, net income margin. Pressure indicators included cash levels, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 61.3%. EPS increased 572.7%. Cash declined 2.7%. Total debt increased 22.2%. Net income margin improved by 38.7 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
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Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
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5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
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