Himalaya Shipping Ltd. Common Shares (HSHP)

FairStock Score: 62/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I wear the lens of Buffett and Graham, so I ask first whether this is a durable business. Himalaya Shipping owns 12 Newcastlemax dry bulk vessels, each about 210,000 deadweight tons, serving commodity traders and energy-transition shippers. That is a real asset base, but dry bulk shipping is a price-taking, cyclical industry; with only 3 employees and incorporation in 2021, there is no evident moat. The latest fiscal Q2 2026 was outstanding: revenue of $53.7 million, net income of $24.6 million, and a 45.81% net margin. FairStock's calculations as of the 2026-10-13 close show a P/E of 15.82, P/B of 5.18, ROE of 32.62%, ROCE of 7.38%, a 15.60% dividend yield, and a PEG of 0.01. Trailing free cash flow is $87.0 million, a 13.7% FCF yield on the $633.9 million market cap. Yet the balance sheet demands caution: debt-to-equity is 4.15 and the Altman Z-Score is 0.87. The Piotroski F-Score is 8/9, encouraging on recent accounting signals, but the Graham Number is only $9.37, leaving a negative 90.82% margin of safety at $17.88. FairStock assigns no Lynch category because there are only 0 years of filed results, needing 3. So I see a highly profitable, cash-generative fleet at a cyclical peak, but with weak competitive protection, heavy leverage, and a price that already discounts much good news.

In plain English: Himalaya Shipping owns 12 very large dry bulk ships that carry commodities around the world. The business is earning a lot right now: in fiscal Q2 2026 it made $53.7 million of revenue and $24.6 million of profit. But the shares at $17.88 look expensive next to the company's accounting value and a cautious estimate of its earning power, and the company uses a lot of debt.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer