Performance Shipping Valuation

Q: What is the Fair Price of PSHG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

PSHG ($1.85) is trading below our estimate of [[fair value]] ($56.64)

Is PSHG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PSHG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PSHG ($1.85) is trading below our estimate of fair value ($56.64)

Significantly Below Fair Value: PSHG is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PSHG?

Key metric: As PSHG is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PSHG. This is calculated by dividing PSHG's market cap by their current earnings.
What is PSHG's PE Ratio?
PE Ratio	0.4x
Earnings	US$57.15m
Market Cap	US$23.23m

PSHG key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.03x
Enterprise Value/EBITDA	0.05x
PEG Ratio	0.06x

Price to Earnings Ratio vs Peers

How does PSHG's PE Ratio compare to its peers?

The above table shows the PE ratio for PSHG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	2.1x
PXS Pyxis Tankers	1.3x	-16.9%	US$43.0m
USEA United Maritime	2.5x	n/a	US$19.2m
GLBS Globus Maritime	4.1x	-29.6%	US$29.4m
TORO Toro	0.3x	n/a	US$46.8m
PSHG Performance Shipping	0.4x	7.0%	US$23.2m

Price-To-Earnings vs Peers: PSHG is good value based on its Price-To-Earnings Ratio (0.4x) compared to the peer average (2.1x).

Price to Earnings Ratio vs Industry

How does PSHG's PE Ratio compare vs other companies in the US Shipping Industry?

4 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	4.6x	10.8%
PSHG Performance Shipping	0.4x	7.0%	US$23.23m
TORO Toro	0.3x	n/a	US$46.84m
PXS Pyxis Tankers	1.3x	-16.9%	US$42.99m

4 Companies		Estimated Growth	Market Cap
Industry Avg.	4.6x	10.8%
PSHG Performance Shipping	0.4x	7.0%	US$23.23m

No more companies

Price-To-Earnings vs Industry: PSHG is good value based on its Price-To-Earnings Ratio (0.4x) compared to the US Shipping industry average (4.8x).

Price to Earnings Ratio vs Fair Ratio

What is PSHG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PSHG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	0.4x
Fair PE Ratio	5.8x

Price-To-Earnings vs Fair Ratio: PSHG is good value based on its Price-To-Earnings Ratio (0.4x) compared to the estimated Fair Price-To-Earnings Ratio (5.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PSHG forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	US$1.85	US$5.75 +210.8%	13.0%	US$6.50	US$5.00	n/a	2
Nov ’25	US$1.99	US$5.75 +188.9%	13.0%	US$6.50	US$5.00	n/a	2
Oct ’25	US$1.87	US$5.75 +207.5%	13.0%	US$6.50	US$5.00	n/a	2
Sep ’25	US$1.98	US$5.75 +190.4%	13.0%	US$6.50	US$5.00	n/a	2
Aug ’25	US$2.04	US$5.75 +182.6%	13.0%	US$6.50	US$5.00	n/a	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.