Himalaya Shipping Ltd. (HSHP) Balance Sheet
HSHP balance sheet, 2025
December 31, 2025 · U.S. dollars$863.9M assets = $702.2M liabilities + $161.7M equity
Both columns are drawn to the same scale: what HSHP owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HSHP financial health
Descriptive bands, not a rating. Fiscal 2025.
HSHP balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $95.2M2021 | $863.9M2025 | +73.6%/yr | |
| Total liabilities | $3.3M2021 | $702.2M2025 | +281.9%/yr | |
| Shareholders’ equity | $91.9M2021 | $161.7M2025 | +15.2%/yr | |
| Cash & short-term investments | $11.3M2021 | $32.4M2025 | +30.1%/yr | |
| Total debt | $67.4M2022 | $689.2M2025 | +117.0%/yr | |
| Net cash (debt) | −$67.2M2022 | −$656.8M2025 | −$589.6M | |
| Working capital | $10.5M2021 | $3.1M2025 | −$7.4M | |
| Book value per share | $5.022021 | $3.512025 | −8.5%/yr | |
| Current ratio | 14.122021 | 1.082025 | −13.04 | |
| Debt / equity | 0.752022 | 4.262025 | +3.52 | |
| Shares outstanding | 18.3M2021 | 46.0M2025 | +25.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HSHP assets
HSHP liabilities and equity
HSHP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HSHP balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $32.4M | $19.4M | $25.6M | $263,000 | $11.3M |
| Cash & equivalents | $32.4M | $19.4M | $25.6M | $263,000 | $11.3M |
| Short-term investments | — | — | $75,743 | — | — |
| Receivables | $700,000 | $1.2M | $811,000 | $0 | $0 |
| Inventory | $1.7M | $1.5M | $634,000 | $0 | $0 |
| Other current assets | $4.9M | $4.7M | $5.8M | $1.4M | $0 |
| Total current assets | $39.7M | $26.8M | $32.8M | $1.7M | $11.3M |
| Property, plant & equipment (net) | $823.8M | $853.0M | $561.3M | $176.1M | $83.5M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $400,000 | $324,000 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $5.1M | $0 | $400,000 |
| Total assets | $863.9M | $880.1M | $599.2M | $177.8M | $95.2M |
| Liabilities | |||||
| Accounts payable | $1.3M | $821,000 | $1.7M | $14.9M | $800,000 |
| Short-term debt | $23.6M | $24.3M | $19.8M | $7.0M | — |
| Deferred revenue | — | — | $1 | −$14.9M | — |
| Total current liabilities | $36.6M | $35.8M | $25.3M | $26.1M | $800,000 |
| Long-term debt | $665.6M | $689.6M | $419.7M | $60.5M | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $937,000 | $2.5M |
| Total liabilities | $702.2M | $725.4M | $445.0M | $87.5M | $3.3M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $46.7M | $43.9M | $43.9M | $32.2M | $32.2M |
| Retained earnings (deficit) | $37.3M | $19.6M | −$1.5M | −$3.0M | −$1.0M |
| Accumulated other comprehensive income | — | $0 | $0 | — | — |
| Total shareholders' equity | $161.7M | $154.7M | $154.2M | $90.3M | $91.9M |
| Key figures | |||||
| Total debt | $689.2M | $713.9M | $439.5M | $67.4M | — |
| Net cash (debt) | −$656.8M | −$694.5M | −$413.9M | −$67.2M | — |
| Working capital | $3.1M | −$9.0M | $7.5M | −$24.4M | $10.5M |
| Tangible book value | $161.7M | $154.7M | $154.2M | $90.3M | $91.9M |
| Book value per share | $3.51 | $3.52 | $3.99 | $2.81 | $5.02 |
| Shares outstanding | 46.0M | 43.9M | 38.6M | 32.2M | 18.3M |
| Current ratio | 1.08 | 0.75 | 1.30 | 0.06 | 14.12 |
| Quick ratio | 0.90 | 0.58 | 1.04 | 0.01 | 14.12 |
| Debt / equity | 4.26 | 4.61 | 2.85 | 0.75 | — |
| Equity / assets | 18.7% | 17.6% | 25.7% | 50.8% | 96.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $34.8M | $24.5M | $32.4M | $26.4M | $24.7M | $27.0M | $19.4M | $21.5M | $21.9M | $25.7M | $25.6M | $12.8M |
| Cash & equivalents | $34.8M | $24.5M | $32.4M | $26.4M | $24.7M | $27.0M | $19.4M | $21.5M | $21.9M | $25.7M | $25.6M | $12.8M |
| Short-term investments | — | — | — | — | — | — | — | — | $79,159 | — | — | — |
| Receivables | $2.3M | $1.0M | $700,000 | $500,000 | $400,000 | $710,000 | $1.2M | $1.3M | $1.0M | $1.3M | $811,000 | $420,000 |
| Inventory | $1.9M | $1.7M | $1.7M | $1.6M | $1.6M | $1.6M | $1.5M | $1.5M | $1.3M | $1.0M | $634,000 | $705,000 |
| Other current assets | $5.1M | $5.5M | $4.9M | $5.3M | $6.4M | $5.7M | $4.7M | $5.5M | $5.3M | $5.8M | $5.8M | $5.5M |
| Total current assets | $44.1M | $32.7M | $39.7M | $33.8M | $33.1M | $35.1M | $26.8M | $29.7M | $29.5M | $33.8M | $32.8M | $19.4M |
| Property, plant & equipment (net) | $809.2M | $816.5M | $823.8M | $831.1M | $838.4M | $845.7M | $853.0M | $860.3M | $867.7M | $714.8M | $561.3M | $541.1M |
| Goodwill & intangible assets | $500,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $400,000 | $400,000 | $400,000 | $400,000 | $343,000 | $324,000 | $312,000 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5.1M | $0 |
| Total assets | $853.8M | $849.6M | $863.9M | $865.3M | $871.9M | $881.1M | $880.1M | $890.3M | $897.3M | $748.6M | $599.2M | $560.4M |
| Liabilities | ||||||||||||
| Accounts payable | $1.8M | $1.8M | $1.3M | $1.5M | $2.0M | $1.9M | $821,000 | $1.1M | $2.0M | $1.3M | $1.7M | $1.3M |
| Short-term debt | $24.1M | $23.7M | $23.6M | $23.8M | $23.7M | $24.4M | $24.3M | $23.9M | $23.5M | $22.4M | $19.8M | $16.7M |
| Deferred revenue | — | $2.6M | — | — | — | — | — | — | — | $1 | $1 | $2 |
| Total current liabilities | $37.2M | $34.3M | $36.6M | $33.6M | $35.0M | $35.0M | $35.8M | $34.3M | $38.0M | $32.6M | $25.3M | $22.7M |
| Long-term debt | $653.4M | $659.5M | $665.6M | $671.6M | $677.6M | $683.6M | $689.6M | $695.8M | $702.0M | $560.9M | $419.7M | $405.2M |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $690.6M | $693.8M | $702.2M | $705.2M | $712.6M | $718.5M | $725.4M | $730.2M | $740.0M | $593.5M | $445.0M | $427.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $47.2M | $46.8M | $46.7M | $46.6M | $46.6M | $46.5M | $43.9M | $43.9M | $43.9M | $43.9M | $43.9M | $40.8M |
| Retained earnings (deficit) | $66.9M | $42.3M | $37.3M | $23.8M | $14.3M | $13.2M | $19.6M | $18.5M | $7.9M | $1.0M | −$1.5M | −$6.1M |
| Accumulated other comprehensive income | — | — | — | — | — | — | $0 | — | — | — | $0 | $0 |
| Minority interest | $400,000 | — | — | — | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $162.8M | $155.8M | $161.7M | $160.1M | $159.3M | $162.5M | $154.7M | $160.2M | $157.2M | $155.1M | $154.2M | $132.6M |
| Key figures | ||||||||||||
| Total debt | $677.5M | $683.2M | $689.2M | $695.4M | $701.3M | $707.9M | $713.9M | $719.7M | $725.5M | $583.3M | $439.5M | $421.9M |
| Net cash (debt) | −$642.7M | −$658.7M | −$656.8M | −$669.0M | −$676.6M | −$680.9M | −$694.5M | −$698.2M | −$703.5M | −$557.5M | −$413.9M | −$409.1M |
| Working capital | $6.9M | −$1.6M | $3.1M | $200,000 | −$1.9M | $86,000 | −$9.0M | −$4.6M | −$8.5M | $1.2M | $7.5M | −$3.3M |
| Tangible book value | $162.3M | $155.8M | $161.7M | $160.1M | $159.3M | $162.5M | $154.7M | $160.2M | $157.2M | $155.1M | $154.2M | $132.6M |
| Book value per share | $3.46 | $3.32 | $3.46 | $3.54 | $3.42 | $3.68 | $3.52 | $3.65 | $3.58 | $3.53 | $3.51 | $3.25 |
| Shares outstanding | 47.1M | 47.0M | 46.7M | 45.2M | 46.5M | 44.2M | 43.9M | 43.9M | 43.9M | 43.9M | 43.9M | 40.8M |
| Current ratio | 1.19 | 0.95 | 1.08 | 1.01 | 0.95 | 1.00 | 0.75 | 0.87 | 0.78 | 1.04 | 1.30 | 0.85 |
| Quick ratio | 1.00 | 0.74 | 0.90 | 0.80 | 0.72 | 0.79 | 0.58 | 0.66 | 0.60 | 0.83 | 1.04 | 0.58 |
| Debt / equity | 4.16 | 4.39 | 4.26 | 4.34 | 4.40 | 4.36 | 4.61 | 4.49 | 4.61 | 3.76 | 2.85 | 3.18 |
| Equity / assets | 19.1% | 18.3% | 18.7% | 18.5% | 18.3% | 18.4% | 17.6% | 18.0% | 17.5% | 20.7% | 25.7% | 23.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 12, 2026); data from EODHD.
HSHP financial position
At the end of fiscal 2025 (December 31, 2025), Himalaya Shipping had total assets of $863.9 million (down 1.8% from a year earlier), total liabilities of $702.2 million and shareholders' equity of $161.7 million. It held $32.4 million in cash and short-term investments against $689.2 million of debt, net debt of $656.8 million. Its current ratio was 1.08. In the latest quarter (ended June 30, 2026) total assets were $853.8 million and equity $162.8 million.
Related: HSHP income statement, HSHP cash flow statement, HSHP key metrics. See the HSHP stock overview for the latest quote and news.
HSHP balance sheet FAQ
What are Himalaya Shipping's total assets?
Himalaya Shipping reported total assets of $863.9 million at the end of fiscal 2025 (December 31, 2025), compared with $880.1 million a year earlier.
How much debt does Himalaya Shipping have?
Himalaya Shipping had $689.2 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 4.26.
How much cash does Himalaya Shipping have?
Himalaya Shipping held $32.4 million in cash and short-term investments at the end of fiscal 2025; with $689.2 million of debt that is net debt of $656.8 million.
What is Himalaya Shipping's book value?
Himalaya Shipping's shareholders' equity (book value) was $161.7 million at the end of fiscal 2025, or $3.51 per share.
What is Himalaya Shipping's current ratio?
Himalaya Shipping had current assets of $39.7 million and current liabilities of $36.6 million, a current ratio of 1.08 (it can cover its short-term obligations).