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Himalaya Shipping

HSHP on NYSE. Deep sea foreign transportation of freight. Market value $849m.

Watch this stockFree. We tell you when something changes.

This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to December 2025.

Cash flow or capital spending isn't reported, so free cash flow is unknown.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Industrials stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
annual report to December 2025
n/a

We could not compute this from the filings.

Price to profit
annual report to December 2025
22.0×full

You pay 22.0 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
6.2%five-year median

Each dollar kept in the business earns 6 cents a year. Above 10 is good.

Quality score: 48 of 100. Price score: 43 of 100. Our list needs 70 on quality and 60 on price.

$18.06 a share, 145% above its 1-year low

Over the past year the price has ranged from $7.37 to $19.55.

Dividend: 3.2% a year

Paid every year for 2 years

Prices from Monday’s close (5 October).

Five years of cash, in billions

n/a
n/a
n/a
202320242025
Revenue
$37m$124m$132m
Operating margin
39.8%54.0%51.7%
Debt to equity
2.854.614.26
Shares outstanding
0.04bn0.04bn0.05bn

Health checks

  • Free cash flow positiveNot enough data
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)7 of 9
  • Profit backed by cash (accruals)Yes
  • Debt4.26× equity
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesNo, 6% more shares since 2023

Dates

Next results (estimated)
n/a
Last annual report (10-K)
12 March 2026
Next quarterly (estimated, 10-Q)
n/a

Who owns it

1 long-term investor we follow owns it, unchanged from 1 last quarter. 112 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

2 investors own more than 5%.

  • Drew Holdings Ltd.
    Passive investor
    27.9%−1.3 pts
    Since 9 April 2026
  • at least 7.4%+2.0 pts
    (filed with 1 related holder)
    Since 30 June 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $56,800 of shares on the open market. 2 sold $6m.

  • Hasund Vidar
    Contracted CFO
    Sold
    Date
    18 August 2026
    Shares
    100,000
    Price
    $15.85
    Value
    $2m
  • Svensen Lars-Christian
    Contracted CEO
    Bought
    Date
    22 May 2026
    Shares
    4,000
    Price
    $14.20
    Value
    $56,800
  • Isaksen Bjorn Andreas Freng
    Director
    Sold
    Date
    9 April 2026
    Shares
    300,000
    Price
    $13.40
    Value
    $4m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

Himalaya Shipping doesn’t file a US annual report (10-K), so we haven’t checked it.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It carries a lot of debt: 4.3× its equity.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.