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 29 h ago 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

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	FCF	Total debt	Cash
2025	$228M	$137M	0.0%	65.6%	—	$217M	$176M
2024	$213M	$113M	0.0%	56.4%	—	$205M	$74M
2023	$189M	$115M	0.0%	63.1%	—	$130M	$59M
2022	$183M	$106M	0.0%	58.4%	—	$107M	$26M
2021	$94M	$43M	0.0%	48.7%	—	$118M	$27M
2020	$53M	$4M	0.0%	17.4%	$2M	$67M	$4M
2019	$40M	-$2M	0.0%	4.9%	-$52M	$90M	$985418
2018	$34M	-$663396	0.0%	6.8%	—	$37M	$7M
2017	$24M	-$7M	0.0%	-22.8%	-$22M	$74M	$3M
2016	$21M	-$34M	0.0%	-61.7%	-$4M	$52M	$3M
2015	$38M	-$14M	0.0%	-30.3%	-$19M	$41M	$9M
2014	—	-$18M	—	—	-$22M	$54M	$25M
2013	$28M	-$103M	0.0%	-363.3%	-$2M	$46M	$11M
2012	$27M	-$13M	0.0%	-36.0%	—	$54M	$33M
2011	$29M	$1M	0.0%	16.5%	—	$75M	$31M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
Dec '21	$38M	$23M	0.0%	62.6%	—	$118M	$27M
Sep '21	$23M	$8M	0.0%	39.2%	—	$59M	$6M
Jun '21	$18M	$8M	0.0%	47.8%	—	$62M	$8M
Mar '21	$14M	$4M	0.0%	27.9%	—	$65M	$4M
Dec '20	$12M	$575307	0.0%	15.9%	—	$67M	$4M
Sep '20	$12M	$218709	0.0%	10.4%	-$2M	$71M	$2M
Jun '20	$14M	$1M	0.0%	21.4%	$2M	$79M	$1M
Mar '20	$15M	$2M	0.0%	20.7%	$2M	$82M	$508105
Dec '19	$13M	-$765126	0.0%	2.9%	—	$90M	$985418
Sep '19	$10M	-$151930	0.0%	6.3%	—	—	$3M
Jun '19	$8M	-$749583	0.0%	3.4%	—	$40M	$2M
Mar '19	$8M	-$16032	0.0%	8.0%	—	$36M	$4M
Jun '18	$10M	$2M	0.0%	29.2%	—	$33M	$9M
Mar '18	$8M	-$1M	0.0%	-9.3%	—	—	$1M
Jun '17	—	-$1M	—	—	—	$63M	$3M
Mar '17	—	-$2M	—	—	—	$60M	$11M
Dec '16	—	-$18M	—	—	—	$52M	$3M
Jun '16	—	-$19M	—	—	—	—	$1M
Mar '16	—	-$3M	—	—	—	—	$3M
Dec '15	—	-$4M	—	—	—	$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× (Jun '26).
The price-to-sales ratio has risen from 0.7× (Mar '23) to 2.1× (Jun '26).
The dividend yield has fallen from 8.4% (Mar '23) to 4.0% (Jun '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?

As of Jun '26, EUROSEAS LTD. traded at a price-to-earnings ratio of about 3.4× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.