OceanPal Inc. (SVRN) Cash Flow Statement
Where SVRN’s cash came from and went, 2024
December 31, 2024 · U.S. dollars- Cash from operations
- −$3.5M −533.1% vs 2023
- Capital expenditures
- $18.9M 73.6% of revenue
- Free cash flow
- −$22.4M −87.3% margin
- Returned to shareholders
- $1.6M
- Change in cash
- −$7.7M cash at year-end $7.2M
Drawn to scale: where the cash came from and how it was used. Hover for values.
SVRN operating cash flow, capex and free cash flow
SVRN cash flow trends, 2019–2024
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $1.4M2019 | −$3.5M2024 | — | |
| Capital expenditures | $02019 | $18.9M2024 | — | |
| Free cash flow | $1.4M2019 | −$22.4M2024 | — | |
| Free cash flow margin | 11.6%2019 | −87.3%2024 | −98.9 pts | |
| Stock-based compensation | $568,0002022 | $2.8M2024 | +121.1%/yr | |
| Dividends paid | $1.5M2019 | $1.6M2024 | +1.7%/yr | |
| Capex / revenue | 0.0%2019 | 73.6%2024 | +73.6 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SVRN cash flow by activity
SVRN net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
SVRN cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|
| Operating activities | ||||||
| Net income | −$17.9M | −$2.0M | −$326,000 | $134,000 | −$3.8M | −$1.9M |
| Depreciation & amortization | $7.2M | $7.7M | $4.9M | $354,000 | $2.2M | $2.5M |
| Stock-based compensation | $2.8M | $1.9M | $568,000 | — | — | — |
| Change in working capital | −$1.8M | −$1.5M | −$3.6M | $227,000 | −$878,686 | −$2.2M |
| Other non-cash items | $6.2M | −$5.3M | $0 | $0 | −$200,500 | $3.0M |
| Cash from operating activities | −$3.5M | $815,000 | $1.5M | $715,000 | −$2.7M | $1.4M |
| Investing activities | ||||||
| Capital expenditures | −$18.9M | −$4.4M | −$5.1M | −$42,000 | −$1.5M | $0 |
| Investments (net) | −$2.5M | −$6.0M | −$5.1M | — | −$1.5M | — |
| Acquisitions & other investing | $18.9M | $4.4M | $5.1M | $0 | $1.5M | — |
| Cash from investing activities | −$2.5M | −$6.0M | −$5.1M | −$42,000 | −$1.5M | — |
| Financing activities | ||||||
| Dividends paid | −$1.6M | −$2.1M | −$3.1M | −$1.7M | — | −$1.5M |
| Shares issued | $0 | $15.2M | $16.2M | $0 | $0 | $0 |
| Other financing | $0 | −$1.5M | −$2.7M | $2.7M | $4.2M | $0 |
| Cash from financing activities | −$1.6M | $11.6M | $10.4M | $1.0M | $4.2M | −$1.5M |
| Summary | ||||||
| Net change in cash | −$7.7M | $6.4M | $6.8M | $1.6M | $37,723 | −$64,771 |
| Cash at end of period | $7.2M | $14.8M | $8.5M | $1.7M | $39,638 | $1,915 |
| Free cash flow | −$22.4M | −$3.6M | −$3.6M | $673,000 | −$4.2M | $1.4M |
| Free cash flow margin | −87.3% | −18.7% | −18.8% | 50.4% | −44.6% | 11.6% |
| Capex / revenue | 73.6% | 23.0% | 26.7% | 3.1% | 15.7% | 0.0% |
| Operating cash flow / net income | — | — | — | 5.34 | — | — |
| Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$5.2M | −$5.2M | −$8.2M | −$162,000 | −$8.2M | −$1.3M | −$3.4M | $1.3M | −$5.0M | −$2.5M |
| Depreciation & amortization | $1.6M | $1.6M | $2.1M | — | — | $1.9M | $1.7M | $2.1M | $1.9M | $1.7M |
| Stock-based compensation | $694,500 | $694,500 | — | — | — | $1.9M | — | $819,000 | — | $568,000 |
| Change in working capital | $634,500 | $634,500 | — | — | — | — | — | — | — | — |
| Other non-cash items | $1.7M | $1.7M | $4.0M | $2.0M | $4.0M | −$1.6M | $1.8M | −$4.3M | $2.8M | −$1.1M |
| Cash from operating activities | −$535,500 | −$535,500 | −$2.0M | $1.8M | −$4.2M | $920,000 | $130,000 | −$91,000 | −$265,000 | −$1.3M |
| Investing activities | ||||||||||
| Capital expenditures | $0 | −$2.0M | −$2.0M | −$1.8M | $0 | $0 | $0 | $0 | $0 | $0 |
| Investments (net) | — | — | $5.5M | −$8.0M | $0 | $0 | — | — | — | — |
| Acquisitions & other investing | $10.5M | $12.5M | $2.2M | $1.8M | — | −$194,682 | −$1.6M | −$41,000 | −$4.1M | −$96,000 |
| Cash from investing activities | $10.5M | $10.5M | $5.6M | −$8.1M | — | −$194,682 | −$1.6M | −$41,000 | −$4.1M | −$96,000 |
| Financing activities | ||||||||||
| Dividends paid | −$593,500 | −$593,500 | −$1.6M | — | — | −$2.1M | — | — | — | −$3.0M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$63,000 | −$63,000 | $1.2M | −$432,061 | −$391,000 | $1.7M | −$562,000 | −$622,000 | $14.2M | $2.6M |
| Cash from financing activities | −$656,500 | −$656,500 | −$443,216 | −$432,061 | −$391,000 | −$350,000 | −$562,000 | −$622,000 | $14.2M | −$404,000 |
| Summary | ||||||||||
| Net change in cash | — | −$7.2M | $2.9M | −$6.5M | −$4.6M | $570,000 | −$19.7M | −$19.1M | −$10.3M | −$12.1M |
| Cash at end of period | — | $7.2M | $7.2M | $4.3M | −$4.6M | $570,000 | −$2.1M | −$754,000 | −$1.8M | −$1.8M |
| Free cash flow | −$535,500 | −$535,500 | −$21.0M | $1.9M | −$4.2M | $920,000 | $130,000 | −$91,000 | −$265,000 | −$1.3M |
| Free cash flow margin | −17.4% | −17.4% | −363.4% | 25.0% | −62.6% | 16.2% | 3.4% | −1.7% | −6.8% | −22.9% |
| Capex / revenue | 0.0% | 66.3% | 35.3% | 24.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | — | — | — | — | — | — | — | −0.07 | — | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
SVRN cash generation
In fiscal 2024 (ended December 31, 2024), OceanPal generated -$3.5 million of cash from operations (down 533.1%) and spent $18.9 million on capital expenditures, leaving free cash flow of -$22.4 million, −87.3% of revenue. It returned $1.6 million to shareholders through dividends ($1.6 million) and net share buybacks ($0). Cash and equivalents fell by $7.7 million over the year.
Related: SVRN income statement, SVRN balance sheet. See the SVRN stock overview for the latest quote and news.
SVRN cash flow FAQ
What is OceanPal's free cash flow?
OceanPal's free cash flow was -$22.4 million in fiscal 2024: -$3.5 million of operating cash flow minus $18.9 million of capital expenditures It was -$3.6 million a year earlier..
How much cash does OceanPal generate from operations?
OceanPal generated -$3.5 million of cash from operating activities in fiscal 2024.
How much does OceanPal spend on capital expenditures?
OceanPal spent $18.9 million on capital expenditures in fiscal 2024, 73.6% of revenue, compared with $4.4 million the year before.
How much does OceanPal pay in dividends?
OceanPal paid $1.6 million in dividends in fiscal 2024.