HSHPHimalaya Shipping Ltd.
Is it safe?
Nothing alarming, nothing pristine: heavy debt (B) and typical volatility.
Highly leveraged, watch solvency. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -52% · now 3% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can HSHP take a bad year?
Himalaya Shipping Ltd. carries $643M of net debt at 6.22× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 6.22×
Net debt / EBITDA · 15.6× a year ago · the load is coming down
- Interest cover
- 1.46×
Interest cover · operating profit barely covers the interest bill
- Annualised volatility
- 43%
Annualised volatility · roughly twice as jumpy as the market
Details›
- Total debtQ2 2026
- $678M
- Cash and short-term investments
- $35M
- Net debt
- $643M
- EBITDA, trailing twelve months
- $103M
- Operating profit, trailing twelve months
- $74M
- Debt / equity
- 4.15×
- Total debt / EBITDA
- 6.56×
- Annualised volatilitytwo years of daily moves
- 43%
- Worst drawdown on file
- −52%
- Below its 52-week high
- 3.5%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.