StealthGas Inc.
- Open
- 8.72
- Day high
- 8.87
- Day low
- 8.61
- Prev close
- 8.53
- Volume
- 129K
- Mkt cap
- $321M
- P/E (TTM)
- 5.0
- EPS (TTM)
- $1.73
- P/B
- 0.5
- P/S
- 1.8
- Yield
- —
- Per share
- —
StealthGas Inc. (GASS) is a Industrials company listed on NASDAQ. The stock is up 32% over the past year.
StealthGas Inc. (GASS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GASS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 5, 2026 | $0.38 | $0.40 | +5.3% | $43M | +11.6% |
| Nov 25, 2025 | $0.31 | $0.39 | +25.8% | $45M | +12.4% |
| Aug 25, 2025 | $0.30 | $0.59 | +96.7% | $47M | +8.6% |
| May 28, 2025 | $0.33 | $0.44 | +33.3% | $42M | +6.4% |
| Feb 21, 2025 | $0.29 | $0.44 | +51.7% | $43M | +10.3% |
| Nov 25, 2024 | $0.34 | $0.38 | +11.8% | $40M | -0.6% |
| Sep 5, 2024 | $0.53 | $0.75 | +41.5% | $42M | +5.5% |
| May 22, 2024 | $0.24 | $0.53 | +120.8% | $42M | +21.2% |
| Feb 21, 2024 | $0.30 | $0.29 | -3.3% | $34M | +0.7% |
| Nov 21, 2023 | $0.15 | $0.31 | +106.7% | $35M | +26.0% |
| Aug 18, 2023 | $0.14 | $0.27 | +92.9% | $37M | +4.8% |
| May 24, 2023 | $0.17 | $0.45 | +164.7% | $38M | +3.7% |
GASS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 23, 2026 | Jolliffe Michaeldirector | Option | 5,000 | $6.43 |
| Jun 23, 2026 | Jolliffe Michaeldirector | Option | 10,000 | $6.01 |
| Apr 29, 2026 | Vafias Harrydirector, officer: CEO, President & CFO | Option | 100,000 | $6.01 |
| Jul 1, 2019 | Glendon Capital Management LP10 percent owner | Buy | 50,000 | $3.36 |
| Jul 1, 2019 | Glendon Capital Management LP10 percent owner | Buy | 39,125 | $3.50 |
| Jul 1, 2019 | Glendon Capital Management LP10 percent owner | Buy | 6,502 | $3.40 |
| Mar 21, 2019 | Glendon Capital Management LP10 percent owner | Buy | 422,065 | $3.30 |
| Mar 15, 2019 | Glendon Capital Management LP10 percent owner | Buy | 5,000 | $3.05 |
| Mar 15, 2019 | Glendon Capital Management LP10 percent owner | Buy | 3,200 | $3.05 |
| Mar 13, 2019 | Glendon Capital Management LP10 percent owner | Buy | 18,000 | $3.09 |
| Mar 13, 2019 | Glendon Capital Management LP10 percent owner | Buy | 2,000 | $3.09 |
| Mar 8, 2019 | Glendon Capital Management LP10 percent owner | Buy | 3,600 | $3.11 |
| Mar 8, 2019 | Glendon Capital Management LP10 percent owner | Buy | 493,536 | $3.20 |
| Mar 8, 2019 | Glendon Capital Management LP10 percent owner | Buy | 2,400 | $3.06 |
| Mar 6, 2019 | Glendon Capital Management LP10 percent owner | Buy | 19,998 | $3.25 |
Source: GASS SEC Form 4 filings, latest Jun 23, 2026. For informational purposes only — not investment advice.
See the full GASS insider & 13F page →StealthGas Inc. company profile
Overview
StealthGas Inc. (NASDAQ:GASS) is a Greek-based marine shipping company that specializes in transporting liquefied petroleum gas and other petroleum products globally. Founded in 2004 and publicly traded since 2005, the company has established itself as a focused operator in the specialized gas carrier segment of the maritime industry. Based in Athens, Greece, StealthGas has built a fleet of specialized vessels designed to transport various liquid petroleum products in pressurized and refrigerated conditions across international waters.
Business
StealthGas operates in the marine shipping industry, specifically focusing on the transportation of liquefied petroleum gas (LPG) and other liquid petroleum products. The company's core business involves providing seaborne transportation services using specialized vessels that can safely carry petroleum gases in liquefied form under pressure or refrigeration. The company's fleet consists of three main types of vessels: small pressurized gas carriers, which make up the majority of the fleet and are designed to transport LPG products like propane, butane, and other petroleum gases under pressure; Handysize semi-refrigerated vessels, which are larger ships capable of carrying both pressurized and semi-refrigerated cargo; and medium gas carriers (MGCs), which are the largest vessels in the fleet with full refrigeration capabilities for transporting larger volumes of LPG. The products transported include various petroleum gas products such as propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer, as well as refined petroleum products like gasoline, diesel, fuel oil, and jet fuel. Additionally, the company transports edible oils, chemicals, and has been increasingly involved in ammonia transportation, which is gaining importance as a clean energy carrier. As of 2024, StealthGas operates a fleet of 28 vessels with a combined capacity of approximately 389,426 cubic meters for LPG transportation. The fleet composition includes 24 small pressurized gas carriers and 4 larger Handysize/medium gas carriers, representing a strategic focus on the specialized LPG transportation segment which accounts for nearly 100% of the company's revenue.
Revenue model
StealthGas generates revenue primarily through time charter agreements and voyage charters for its specialized fleet of LPG carriers. The company's business model is based on contracting its vessels to oil and gas producers, traders, and end-users who need to transport liquefied petroleum gas between production facilities and consumption markets globally. The company's paying customers include major oil and gas companies, LPG producers, trading houses, and industrial users who require reliable transportation of petroleum gas products. StealthGas has strategically moved away from spot market exposure, with management indicating that currently all vessels are fixed on period charters, providing revenue stability and predictability. Revenue generation follows a time charter equivalent (TCE) model, where the company receives daily charter rates for the use of its vessels over specified periods. The company has secured significant forward contract coverage, with 70% of fleet days contracted for 2025 and over $200 million in future contracted revenues, demonstrating strong revenue visibility. Several factors influence the company's profitability margins. Positive margin drivers include the tight supply of specialized LPG vessels due to a limited order book for new construction, growing global LPG demand particularly from Asia (China and India), increasing US LPG exports, and the company's focus on regional European trades which reduce voyage distances and costs. Negative margin pressures can arise from geopolitical tensions affecting shipping routes (such as Red Sea disruptions), fluctuating fuel costs, potential oversupply of vessels if new construction accelerates, economic downturns reducing LPG demand, and increased competition from larger shipping companies entering the specialized gas carrier market. The company's strategic positioning in Europe, where over 60% of its fleet operates, provides advantages in terms of shorter voyage distances and access to growing European LPG import demand, particularly as Europe seeks alternatives to Russian energy supplies.
Competitive moat
StealthGas operates in a specialized niche market that provides some competitive advantages, though the moat is relatively narrow. The company's primary competitive advantage lies in its focus on small to medium-sized LPG carriers, a segment with limited new vessel construction and high barriers to entry due to the specialized nature of gas transportation technology. The company benefits from the technical complexity of LPG transportation, which requires specialized vessels with pressurization and refrigeration systems, trained crews with gas handling expertise, and compliance with strict international safety regulations. This creates natural barriers for new entrants who would need significant capital investment and operational expertise to compete effectively. StealthGas has built long-term relationships with established customers in the LPG value chain, evidenced by its high contract coverage rates and multi-year charter agreements. The company's strategic fleet positioning, with over 60% of vessels operating in European waters, provides logistical advantages for serving the growing European LPG import market. However, the moat is not particularly strong. The shipping industry is inherently cyclical and competitive, with limited pricing power during market downturns. Potential threats include larger shipping conglomerates with greater financial resources entering the LPG segment, new vessel construction increasing supply, alternative transportation methods for LPG (such as pipelines for certain routes), and potential shifts in energy markets toward renewables reducing long-term LPG demand. The company's relatively small size compared to major shipping companies also limits its ability to achieve significant economies of scale or weather prolonged market downturns. While the specialized nature of LPG transportation provides some protection, the overall competitive position relies heavily on market conditions and the company's operational efficiency rather than sustainable competitive advantages.
Risks & safety
StealthGas demonstrates a strong margin of safety from a financial stability perspective, with excellent liquidity and minimal debt burden. • Liquidity and Solvency: Cash and short-term investments of $80.7 million against current liabilities of $43.9 million, providing a current ratio of 2.1x. The company is essentially net debt-free with total debt of approximately $50 million. • Debt Management: Debt-to-equity ratio of only 13.5%, indicating very conservative capital structure. Annual debt amortization reduced to $6.4 million, representing minimal cash flow burden. • Valuation Metrics: Trading at attractive multiples with P/E ratio of 3.5x, EV/EBITDA of 2.3x, and price-to-book ratio of 0.32x, suggesting significant undervaluation relative to earnings and assets. • Cash Generation: Strong operating cash flow of $103.5 million for 2024, though free cash flow was slightly negative at -$2.7 million due to vessel investments. • Revenue Visibility: 70% of 2025 fleet days already contracted with over $200 million in secured future revenues, providing earnings predictability. • Other Considerations: Fleet of 28 vessels with 25 currently unencumbered provides significant asset backing and financing flexibility. However, shipping industry cyclicality and potential market volatility remain key risks to monitor.
Recent development
Over the past few years, StealthGas has executed a clear strategic transformation focused on debt reduction, fleet optimization, and revenue security. The company has aggressively reduced its debt burden from over $300 million in 2022 to approximately $50 million by 2024, achieving near net debt-free status through a combination of asset sales and strong cash generation. The fleet strategy has involved selective modernization, with the company selling older, smaller vessels while acquiring newer, larger medium gas carriers. This includes the delivery of two new 40,000 cubic meter medium gas carriers and the disposal of several smaller, older vessels, reducing the total fleet from 32 vessels in early 2024 to 28 vessels by year-end while maintaining overall capacity and improving fleet efficiency. StealthGas has significantly improved its revenue stability by moving away from spot market exposure to long-term period charters. The company has increased its contract coverage from 55% in 2022 to 70% for 2025, securing over $200 million in future contracted revenues. This strategic shift provides greater earnings predictability and reduces exposure to volatile spot rates. The company has also pursued geographic repositioning, with over 60% of its fleet now operating in European waters, capitalizing on growing European LPG import demand and shorter voyage distances. Additionally, StealthGas has begun expanding into adjacent markets, particularly ammonia transportation, positioning itself for the growing clean energy transition where ammonia serves as a hydrogen carrier. Recent financial strategy includes implementing a share buyback program and maintaining strong liquidity while continuing to reduce debt. The company has achieved record profitability for three consecutive years, demonstrating the success of its strategic repositioning in the specialized LPG transportation market.
GASS company profile · for informational purposes only — not investment advice.
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