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Update

Sector: Marine shipping

Geography: Global shipping

COMM_ESEA

Price chart

71.52 USDDay 5.44%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
71.52 USD · 5.44%
Market cap
497 mln USD

Growth

Δ revenue y/y
7.0%
Δ EBITDA y/y
21.7%

Multiples

P/E (LTM)
3.6x
P/B (FY)
1.1x
P/E (ann.)
4.2x
EV/EBITDA (LTM)
3.0x
EV/EBITDA (ann.)
3.4x

Cash return

Dividend yield
5.0%
FCF yield (LTM)
22.6%

Value creation

to fair market cap at the current EV/EBITDA
Upside (potential)
+39.0%
↓ details

Liquidity

Daily turnover (listing)
13 mln USD

Shares: yahoo_fundamentals_timeseries/ESEA

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 8 / Warn: 6 / Err: 0 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-03-31 Q1⚠Warn 3
2023-06-30 Q2⚠Warn 1
2023-09-30 Q3✓OK
2023-12-31 FY✓OK
2023-12-31 Q4⚠Warn 1
2024-03-31 Q1✓OK
2024-06-30 Q2✓OK
2024-09-30 Q3✓OK
2024-12-31 FY✓OK
2024-12-31 Q4✓OK
2025-03-31 Q1✓OK
2025-06-30 Q2⚠Warn 1
2025-09-30 Q3⚠Warn 1
2025-12-31 FY⚠Warn 1
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2025-12-31Q4 2025 (3M)OK57.4
y/y 7.7%
43.1
y/y 62.0%
6.8
y/y -8.8%
49.9
y/y 46.5%
40.5
y/y 66.0%
38.461.5700.5
y/y 18.5%
463.4
y/y 27.7%
30.7%40.4Link
2025-09-30Q3 2025 (3M)OK56.9
y/y 5.1%
32.5
y/y 6.0%
6.5
y/y -2.2%
39.0
y/y 4.6%
29.7
y/y 7.5%
34.2-19.7674.8
y/y 16.2%
428.1
y/y 24.7%
9.5%116.0—
2025-06-30Q2 2025 (3M)OK57.2
y/y -2.5%
33.4
y/y -21.2%
7.3
y/y 6.4%
40.6
y/y -17.3%
29.9
y/y -26.7%
27.2-0.4662.1
y/y 20.9%
403.0
y/y 26.1%
30.6%126.9—
2025-03-31Q1 2025 (3M)OK56.3
y/y 20.6%
40.5
y/y 98.5%
8.0
y/y 47.9%
48.5
y/y 87.9%
36.9
y/y 84.6%
41.2-56.7648.8
y/y 39.2%
377.3
y/y 33.4%
39.9%153.5—
2024-12-31Q4 2024 (3M)PARTIAL53.3
y/y 8.7%
26.6
y/y -3.8%
7.4
y/y -32.0%
34.1
y/y -11.8%
24.4
y/y 906.7%
35.3-20.8591.2
y/y 39.2%
362.9
y/y 36.2%
31.9%131.7—
2024-09-30Q3 2024 (3M)OK54.1
y/y 6.9%
30.7
y/y -7.8%
6.7
y/y 12.3%
37.3
y/y -4.7%
27.6
y/y -14.2%
33.5-33.1580.9
y/y 42.0%
343.4
y/y 40.1%
11.1%140.7—
2024-06-30Q2 2024 (3M)OK58.7
y/y 23.1%
42.3
y/y 46.9%
6.8
y/y 21.5%
49.2
y/y 42.8%
40.7
y/y 41.1%
34.2-77.8547.5
y/y 38.9%
319.6
y/y 47.2%
54.1%136.4—
2024-03-31Q1 2024 (3M)OK46.7
y/y 11.4%
20.4
y/y -31.3%
5.4
y/y 1463.5%
25.8
y/y -14.0%
20.0
y/y -60.8%
25.2-47.2465.9
y/y 29.1%
282.7
y/y 47.4%
29.1%97.7—
2023-12-31Q4 2023 (3M)PARTIAL49.1
y/y —
27.7
y/y —
10.9
y/y —
38.6
y/y —
2.4
y/y —
39.1-18.2424.7
y/y —
266.6
y/y —
44.8%71.4—
2023-09-30Q3 2023 (3M)OK50.7
y/y —
33.2
y/y —
6.0
y/y —
39.2
y/y —
32.2
y/y —
31.1-15.8408.9
y/y —
245.1
y/y —
18.6%88.9—
2023-06-30Q2 2023 (3M)OK47.7
y/y —
28.8
y/y —
5.6
y/y —
34.4
y/y —
28.9
y/y —
35.0-38.5394.1
y/y —
217.2
y/y —
56.5%100.0—
2023-03-31Q1 2023 (3M)OK41.9
y/y —
29.7
y/y —
0.3
y/y —
30.0
y/y —
51.0
y/y —
24.8-39.8361.1
y/y —
191.8
y/y —
—90.3—
Data quality — review suggested

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02040602023 q32023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q4

Year-over-year change

-50%0%50%100%2023 q32023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q4

Cash flow

FCF ($ mln)

-50-2502550752023 q32023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q4

Net debt / cash ($ mln)

0501001502023 q32023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q4

Key-commodity price — Freightos Baltic Index

Current 2 889spot vs LTM +32%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +39.0%

Main driver: Freightos Baltic Index +32% vs LTM; revenue ×1.32 vs costs ×1.15; EBITDA 178→243; at 3.1× EV/EBITDA → +39%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Freightos Baltic Index (rev)+100%2 888.802 193.992 843.41+32%+30%
VLSFO Global 20 Ports (cost)-25%805.00547.78634.60+47%+16%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue228
LTM EBITDA178
LTM cash costs (revenue − EBITDA)50
2 · Revenue projection
Revenue multiplier — spot×1.317 (+32%)
= Spot revenue300
Revenue multiplier — 3y price×1.296 (+30%)
= 3-year-price revenue295
3 · Costs projection
Cost multiplier — spot×1.147 (+15%)
= Spot cash costs57
Cost multiplier — 3y price×1.070 (+7%)
= 3-year-price cash costs53
4 · EBITDA projection (revenue − costs)
= Spot EBITDA243
= 3-year-price EBITDA242
Conservative EBITDA = min(spot, avg)243
5 · Valuation → target market cap
Target EV/EBITDA (capped at current — trough guard)3.1x
Target EV = EV/EBITDA × conservative EBITDA745
Net debt40
Target market cap = EV − net debt704
Current market cap506

Upside = target market cap ÷ current − 1 = +39.0%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q14213+230.9%30-1—
2023 Q24813+273.3%35-1—
2023 Q35120+153.5%396+523.2%
2023 Q44927+79.7%3414+144.7%
2024 Q14788-47.0%2675-65.5%
2024 Q25990-34.9%5075-33.6%
2024 Q354112-51.5%3897-61.4%
2024 Q45360-11.8%3445-23.9%
2025 Q15646+23.0%4929+66.3%
2025 Q25735+62.4%4122+82.0%
2025 Q35734+68.5%3919+106.8%
2025 Q45738+51.5%5023+116.6%

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 3.6x · target 75th pct (3y) 3.4x · LTM avg 2.8x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-090.8 USDEx-dividend: 0.8 USD per sharePaidYahoo Finance (ex-div)
2026-03-100.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2025-12-090.7 USDEx-dividend: 0.7 USD per sharePaidYahoo Finance (ex-div)
2025-09-090.7 USDEx-dividend: 0.7 USD per sharePaidYahoo Finance (ex-div)
2025-07-090.65 USDEx-dividend: 0.65 USD per sharePaidYahoo Finance (ex-div)
2025-03-110.5289 USDEx-dividend: 0.5289 USD per sharePaidYahoo Finance (ex-div)
2024-12-090.4882 USDEx-dividend: 0.4882 USD per sharePaidYahoo Finance (ex-div)
2024-09-090.4882 USDEx-dividend: 0.4882 USD per sharePaidYahoo Finance (ex-div)
2024-06-120.4882 USDEx-dividend: 0.4882 USD per sharePaidYahoo Finance (ex-div)
2024-03-070.4882 USDEx-dividend: 0.4882 USD per sharePaidYahoo Finance (ex-div)
2023-12-070.4068 USDEx-dividend: 0.4068 USD per sharePaidYahoo Finance (ex-div)
2023-09-070.4068 USDEx-dividend: 0.4068 USD per sharePaidYahoo Finance (ex-div)
2023-06-080.4068 USDEx-dividend: 0.4068 USD per sharePaidYahoo Finance (ex-div)
2023-03-080.4068 USDEx-dividend: 0.4068 USD per sharePaidYahoo Finance (ex-div)
2022-12-080.4068 USDEx-dividend: 0.4068 USD per sharePaidYahoo Finance (ex-div)
2022-09-080.4068 USDEx-dividend: 0.4068 USD per sharePaidYahoo Finance (ex-div)
2022-06-080.4068 USDEx-dividend: 0.4068 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)