OceanPal Inc.
SVRN · Deep Sea Foreign Transportation of Freight · EDGAR filings ↗
Grade
D45Sub-scale dry-bulk/tanker micro-cap with deeply negative margins, minimal runway and heavy dilution.
Strengths
- Adequate current ratio (2.77, 70.5th pct) and revenue growth (+36%, 81.1th pct)
- Reported net loss narrowed sharply year over year
Risks
- Bottom-decile profitability (net margin -69%, operating -70%, ROA 7.1th pct)
- Cash runway ~1.3 quarters (18.8th pct) and negative free cash flow
- Aging secondhand fleet, related-party conflicts, and serial reverse splits/dilution
Notable findings
- Net lossNet loss (net margin -69.5%)
- Cash burnNegative free cash flow (-22.4M)
Key metrics
Operating margin
-70.2%
Net margin
-69.5%
Return on equity
-21.2%
Return on assets
-20.0%
Revenue growth (QoQ)
35.6%
Current ratio
2.8×
Free cash flow
-$22M
EBITDA
-$11M
Tangible book value
$84M
Cash & investments
$7M
Cash runway
1q
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2025-04-15 | 2024-12-31 | 0001140361-25-014004 ↗ |
| 20-F | 2024-04-15 | 2023-12-31 | 0001140361-24-019755 ↗ |
| 20-F | 2023-03-30 | 2022-12-31 | 0001104659-23-039283 ↗ |
| 20-F | 2022-04-07 | 2021-12-31 | 0001104659-22-043359 ↗ |