ESEA Financials EUROSEAS LTD.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 16, 2026, 09:53 UTC Overview →

Growth & profitability

Revenue has grown 33.7% per year over the past 5 years.
Net income has grown faster than revenue (102.3% vs 33.7% per year).
Operating margin has expanded, at 65.6% in the latest year.

Financial health

Total debt ($217M) exceeds cash ($176M); net debt is $40M.
Total debt has grown slower than revenue (26.5% vs 33.7% per year).
Operating income covered interest expense 10× in the latest year, up from 2.4× 5 years ago.
Total debt is 1.5× EBITDA.

Shareholder returns

Dividends have been paid for 4 consecutive years, consuming 13.8% of earnings.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$228M	$137M	0.0%	65.6%	29.6%	19.6%	—	$217M	$176M
2024	$213M	$113M	0.0%	56.4%	31.1%	19.1%	—	$205M	$74M
2023	$189M	$115M	0.0%	63.1%	43.0%	27.0%	—	$130M	$59M
2022	$183M	$106M	0.0%	58.4%	63.2%	32.3%	—	$107M	$26M
2021	$94M	$43M	0.0%	48.7%	55.9%	19.4%	—	$118M	$27M
2020	$53M	$4M	0.0%	17.4%	14.8%	3.7%	$2M	$67M	$4M
2019	$40M	-$2M	0.0%	4.9%	-8.2%	-1.3%	-$52M	$90M	$985418
2018	$34M	-$663396	0.0%	6.8%	-17.4%	-1.0%	—	$37M	$7M
2017	$24M	-$7M	0.0%	-22.8%	-14.9%	-4.3%	-$22M	$74M	$3M
2016	$21M	-$34M	0.0%	-61.7%	-63.0%	-23.7%	-$4M	$52M	$3M
2015	$38M	-$14M	0.0%	-30.3%	-14.8%	-8.2%	-$19M	$41M	$9M
2014	—	-$18M	—	—	-17.9%	-9.4%	-$22M	$54M	$25M
2013	$28M	-$103M	0.0%	-363.3%	-98.8%	-66.0%	-$2M	$46M	$11M
2012	$27M	-$13M	0.0%	-36.0%	-6.3%	-4.7%	—	$54M	$33M
2011	$29M	$1M	0.0%	16.5%	0.5%	0.4%	—	$75M	$31M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Dec '21	$38M	$23M	0.0%	62.6%	29.6%	10.3%	—	$118M	$27M
Sep '21	$23M	$8M	0.0%	39.2%	15.7%	7.1%	—	$59M	$6M
Jun '21	$18M	$8M	0.0%	47.8%	17.4%	7.0%	—	$62M	$8M
Mar '21	$14M	$4M	0.0%	27.9%	12.0%	3.5%	—	$65M	$4M
Dec '20	$12M	$575307	0.0%	15.9%	2.1%	0.5%	—	$67M	$4M
Sep '20	$12M	$218709	0.0%	10.4%	0.9%	0.2%	-$2M	$71M	$2M
Jun '20	$14M	$1M	0.0%	21.4%	5.5%	1.0%	$2M	$79M	$1M
Mar '20	$15M	$2M	0.0%	20.7%	8.8%	1.6%	$2M	$82M	$508105
Dec '19	$13M	-$765126	0.0%	2.9%	-3.7%	-0.6%	—	$90M	$985418
Sep '19	$10M	-$151930	0.0%	6.3%	-1.0%	—	—	—	$3M
Jun '19	$8M	-$749583	0.0%	3.4%	-45.4%	-1.4%	—	$40M	$2M
Mar '19	$8M	-$16032	0.0%	8.0%	-0.5%	-0.0%	—	$36M	$4M
Jun '18	$10M	$2M	0.0%	29.2%	57.0%	3.3%	—	$33M	$9M
Mar '18	$8M	-$1M	0.0%	-9.3%	-3.2%	—	—	—	$1M
Jun '17	—	-$1M	—	—	-2.1%	-0.7%	—	$63M	$3M
Mar '17	—	-$2M	—	—	-4.2%	-1.5%	—	$60M	$11M
Dec '16	—	-$18M	—	—	-32.6%	-12.3%	—	$52M	$3M
Jun '16	—	-$19M	—	—	-26.5%	—	—	—	$1M
Mar '16	—	-$3M	—	—	-3.1%	—	—	—	$3M
Dec '15	—	-$4M	—	—	-4.2%	-2.3%	—	$41M	$9M

Valuation over time

How the market has priced ESEA against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 1.2× (Mar '23) to 3.4× (Nov '26).
The price-to-sales ratio has risen from 0.7× (Mar '23) to 2.0× (Nov '26).
The dividend yield has fallen from 8.3% (Mar '23) to 4.1% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is ESEA growing its revenue and profit?

Over the past 5 years, EUROSEAS LTD.'s revenue has grown 33.7% per year, and net income grown 102.3% per year. These are computed facts, not advice.

How much debt does ESEA have?

As of FY2025, EUROSEAS LTD. reported $217M of total debt against $176M of cash; operating income covered interest expense 10×.

What is ESEA's profit margin?

In FY2025, gross margin was —, operating margin 65.6%, and net margin 60.1%.

What is ESEA's P/E ratio?

EUROSEAS LTD.'s P/E (TTM) is 3.36 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the ESEA stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 3.4× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.