United Maritime Corporation

USEA

Marine Shipping · Industrials

Price

$2.52

+0.00 (+0.00%)

Market Cap

$24.0M

Exchange

NASDAQ Capital Market

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Share count falling — buybacks

−28.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 12.3M (2021) → 8.9M (2025)

United Maritime Corporation is a small shipping company based in Greece that moves dry bulk cargo around the world. Dry bulk cargo includes raw materials like coal, grain, and iron ore — the kinds of goods that factories and power plants need to operate. The company owns and operates a fleet of cargo ships that it rents out to industrial customers and commodity traders.

United Maritime makes money by charging daily hire rates to customers who lease its vessels, a model known as time charters or spot market contracts. The company operates globally, with routes spanning major trade lanes across Asia, Europe, and the Americas. Its market cap is very small, which means it has limited financial resources compared to larger shipping rivals like Star Bulk or Safe Bulkers. The main risk the company faces is that shipping rates are highly cyclical — when global trade slows down, freight rates can drop sharply, squeezing revenue and profits quickly.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+2.5% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+97.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

29.5%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$32M cash & investments

Quarterly Free Cash Flow

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

United Maritime Corporation is growing revenue at 2% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

30.4%

Modest — 30.4% gross margin

Operating Margin

12.2%

Healthy — 12.2% operating margin

ROCE

1.0%

Weak — 1.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-10.8%

Shrinking sales (-10.8% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

5.8%

Thin free cash flow (5.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.91

Moderate — manageable debt (0.91)

Interest Cover

0.90x

Dangerous — barely covers interest (0.9x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend Yield

12.03%

Healthy income — 12.03% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend Growth

+88.2%

Dividend growing fast (88.2% YoY)

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