Himalaya Shipping - Public Comps and Valuation Multiples

Himalaya Shipping Overview

About Himalaya Shipping

Himalaya Shipping Ltd is an independent dry bulk company that focuses on owning and operating its Newcastlemax dry bulk carriers.

Founded

2021

HQ

Employees

Website

himalaya-shipping.com

Sectors

Marine Transportation

Financials

LTM Revenue $130M

LTM EBITDA $97.6M

EV

$1.1B

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Himalaya Shipping Financials

As of September 2025, Himalaya Shipping reported last 12-month revenue of $130M and EBITDA of $97.6M.

In the same period, Himalaya Shipping generated $101M in LTM gross profit and $20.4M in net income.

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Himalaya Shipping P&L

In the most recent fiscal year, Himalaya Shipping reported revenue of $124M and EBITDA of $94.2M.

Himalaya Shipping expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$130M	XXX	$124M	XXX	XXX	XXX
Gross Profit	$101M	XXX	$71.7M	XXX	XXX	XXX
Gross Margin	78%	XXX	58%	XXX	XXX	XXX
EBITDA	$97.6M	XXX	$94.2M	XXX	XXX	XXX
EBITDA Margin	75%	XXX	76%	XXX	XXX	XXX
EBIT	$69.2M	XXX	$66.6M	XXX	XXX	XXX
EBIT Margin	53%	XXX	54%	XXX	XXX	XXX
Net Profit	$20.4M	XXX	$21.0M	XXX	XXX	XXX
Net Margin	16%	XXX	17%	XXX	XXX	XXX
Net Debt	XXX	XXX	$695M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Himalaya Shipping including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $130M. EBITDA for the last twelve months was $97.6M. In the most recent fiscal year, Himalaya Shipping achieved $124M in revenue and $94.2M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$130M	Analyst estimates available to subscribers	$124M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$101M	Analyst estimates available to subscribers	$71.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	78.1% gross margin	Analyst estimates available to subscribers	58.0% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$97.6M	Analyst estimates available to subscribers	$94.2M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	75.1% EBITDA margin	Analyst estimates available to subscribers	76.2% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$69.2M	Analyst estimates available to subscribers	$66.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	53.3% EBIT margin	Analyst estimates available to subscribers	53.9% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$20.4M	Analyst estimates available to subscribers	$21.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	15.7% net profit margin	Analyst estimates available to subscribers	17.0% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$695M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Himalaya Shipping

This financial data table provides comprehensive performance metrics for Himalaya Shipping, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Himalaya Shipping generated $130M in revenue over the last twelve months.
The company achieved $97.6M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $101M.
Net income over the last twelve months reached $20.4M.

Fiscal Year Performance

In the most recent fiscal year, Himalaya Shipping reported $124M in total revenue.
Fiscal year EBITDA was $94.2M.
The company maintained a gross profit margin of 58.0% in the most recent fiscal year.
EBITDA margin for the fiscal year was 76.2%.
Net profit margin reached 17.0% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Himalaya Shipping. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Himalaya Shipping Stock Performance

Himalaya Shipping has current market cap of $382M, and EV of $1.1B.

Market Cap Evolution

Himalaya Shipping Stock Data

As of October 2, 2025, Himalaya Shipping's stock price is $8.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$1.1B	$382M	XXX	XXX	XXX	XXX	$0.44

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Himalaya Shipping Valuation Multiples

Himalaya Shipping's trades at 8.6x EV/Revenue multiple, and 11.2x EV/EBITDA.

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Himalaya Shipping Financial Valuation Multiples

As of October 2, 2025, Himalaya Shipping has market cap of $382M and EV of $1.1B.

Equity research analysts estimate Himalaya Shipping's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Himalaya Shipping has a P/E ratio of 18.7x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$382M	XXX	$382M	XXX	XXX	XXX
EV (current)	$1.1B	XXX	$1.1B	XXX	XXX	XXX
EV/Revenue	8.1x	XXX	8.6x	XXX	XXX	XXX
EV/EBITDA	10.8x	XXX	11.2x	XXX	XXX	XXX
EV/EBIT	15.3x	XXX	15.9x	XXX	XXX	XXX
EV/Gross Profit	10.4x	XXX	n/a	XXX	XXX	XXX
P/E	18.7x	XXX	18.2x	XXX	XXX	XXX
EV/FCF	-33.9x	XXX	-4.1x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Himalaya Shipping Margins & Growth Rates

Himalaya Shipping's last 12 month revenue growth is 26%

Himalaya Shipping's revenue per employee in the last FY averaged $41.2M, while opex per employee averaged $1.7M for the same period.

Himalaya Shipping's rule of 40 is 92% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Himalaya Shipping's rule of X is 140% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Himalaya Shipping Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	26%	XXX	19%	XXX	XXX	XXX
EBITDA Margin	75%	XXX	76%	XXX	XXX	XXX
EBITDA Growth	34%	XXX	102%	XXX	XXX	XXX
Rule of 40	92%	XXX	102%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	140%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$41.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$1.7M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	4%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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