Imperial Petroleum Inc.
- Open
- 4.63
- Day high
- 4.67
- Day low
- 4.54
- Prev close
- 4.61
- Volume
- 50K
- Mkt cap
- $211M
- P/E (TTM)
- 2.8
- EPS (TTM)
- $1.68
- P/B
- 0.4
- P/S
- 1.1
- Yield
- —
- Per share
- —
Imperial Petroleum Inc. (IMPP) is a Energy company listed on NASDAQ. The stock is up 49% over the past year.
Imperial Petroleum Inc. (IMPP) 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.
IMPP earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 22, 2026 | $0.34 | $0.58 | +70.6% | $62M | +28.3% |
| Dec 11, 2025 | $0.11 | $0.31 | +181.8% | $41M | -0.2% |
| Sep 5, 2025 | $0.04 | $0.37 | +766.5% | $36M | +22.3% |
| May 23, 2025 | $0.04 | $0.34 | +750.0% | $32M | -4.2% |
| Mar 28, 2025 | — | $0.11 | — | $26M | -29.2% |
| Dec 2, 2024 | $0.26 | $0.29 | +11.5% | $33M | -10.7% |
| May 16, 2024 | $0.23 | $0.59 | +156.5% | $41M | +16.4% |
| Oct 25, 2023 | — | $0.19 | — | $29M | — |
| Aug 10, 2023 | — | $1.28 | — | $59M | — |
| Apr 4, 2023 | — | $1.05 | — | $38M | — |
| Sep 13, 2022 | — | $0.01 | — | $11M | — |
| Dec 21, 2021 | — | $-2.92 | — | $4M | — |
IMPP insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 24, 2026 | Vafias Harrydirector, officer: CEO and President | Grant | 440,000 | — |
| Jun 24, 2026 | Vafias Harrydirector, officer: CEO and President | Grant | 299,000 | $4.95 |
Source: IMPP SEC Form 4 filings, latest Jun 24, 2026. For informational purposes only — not investment advice.
See the full IMPP insider & 13F page →Imperial Petroleum Inc. company profile
Overview
Imperial Petroleum Inc. (NASDAQ:IMPP) is a Greek-based shipping company that was incorporated in 2021 and went public on December 6, 2021. The company operates in the international seaborne transportation sector, providing shipping services for oil and petroleum products globally. Since its founding, Imperial Petroleum has rapidly expanded its fleet from an initial five vessels to twelve ships by 2024, establishing itself as a growing player in the tanker and dry bulk shipping markets. The company is headquartered in Athens, Greece, and has maintained a debt-free balance sheet while accumulating substantial cash reserves through profitable operations.
Business
Imperial Petroleum operates in the maritime shipping industry, specifically focusing on the transportation of liquid and dry bulk commodities across international waters. The shipping industry serves as a critical link in global trade, moving raw materials and finished products between producers, refiners, and consumers worldwide. The company's core business revolves around two main vessel types and cargo categories. Product tankers represent the primary revenue driver, accounting for approximately 75% of the fleet composition. These specialized vessels transport refined petroleum products including gasoline, diesel fuel, jet fuel, and fuel oil, as well as edible oils and chemicals. Product tankers are typically smaller than crude oil tankers and serve routes between refineries and distribution terminals. Crude oil tankers make up a smaller portion of the fleet, including Suezmax and Aframax class vessels that transport unrefined crude oil from production areas to refineries. The company also operates handysize dry bulk carriers, representing about 25% of the fleet, which transport dry commodities such as grains, coal, and industrial materials. The fleet operates primarily in the spot market, where rates fluctuate based on supply and demand dynamics, with approximately 69% of vessel days dedicated to spot activities. The remaining 31% involves time charter arrangements, where vessels are contracted for specific periods at predetermined rates, providing more predictable revenue streams. This mixed approach allows the company to benefit from favorable spot market conditions while maintaining some revenue stability through time charters.
Competitive moat
Imperial Petroleum operates in the highly competitive and cyclical shipping industry, where establishing a strong economic moat is challenging. The company's competitive position relies primarily on operational efficiency and financial flexibility rather than traditional moat characteristics. The company's main competitive advantages include its debt-free balance sheet with substantial cash reserves exceeding $200 million, providing significant financial flexibility during market downturns when competitors may face liquidity constraints. This strong balance sheet allows Imperial Petroleum to opportunistically acquire vessels during market lows and weather extended periods of weak charter rates without financial distress. The company's modern, well-maintained fleet provides operational advantages through higher utilization rates and lower maintenance costs compared to older vessels. Additionally, the mixed employment strategy of combining spot market exposure with time charter coverage helps optimize revenue while managing risk. However, the shipping industry fundamentally lacks strong moats due to its commodity-like nature. Barriers to entry are relatively low for well-capitalized entities, as vessels can be purchased on the secondhand market and deployed globally. The company faces competition from numerous established shipping companies, many with larger fleets and longer operating histories. Rate volatility remains a persistent challenge, as charter rates can fluctuate dramatically based on global economic conditions, geopolitical events, and supply-demand imbalances. The primary competitive threats come from larger, more diversified shipping companies with greater scale economies, as well as potential market disruption from changes in global trade patterns, environmental regulations requiring fleet upgrades, or shifts toward alternative energy sources that could reduce long-term demand for petroleum transportation. The company's relatively small size compared to industry leaders also limits its negotiating power with charterers and suppliers.
Risks & safety
Imperial Petroleum demonstrates a strong margin of safety from a financial stability perspective, though it remains exposed to cyclical industry risks. • Cash position and liquidity: Exceptional cash reserves of $207 million with zero debt, providing substantial financial cushion • Current ratio: Very strong at 7.9x, indicating excellent short-term liquidity • Debt levels: Essentially debt-free with debt-to-equity ratio of 0.0002 • Cash generation: Strong operating cash flow of approximately $78 million annually • Solvency risk: Minimal given debt-free status and substantial cash reserves • Valuation metrics: - P/E ratio: 7.5x (reasonable for cyclical business) - Price-to-book: 0.28x (trading below book value) - EV/EBITDA: 1.4x (attractive for profitable company) - Graham Net-Net value significantly above current price • Other considerations: High operational leverage to charter rates creates earnings volatility; cyclical industry nature means current profitability may not persist; relatively small scale compared to major shipping companies; exposure to geopolitical and regulatory risks in international shipping.
Recent development
Over the past few years, Imperial Petroleum has executed a rapid fleet expansion strategy while maintaining financial discipline. The company doubled its fleet size from five vessels at IPO to twelve vessels by 2024, strategically acquiring both tankers and dry bulk carriers to diversify its revenue streams. In early 2025, the company took delivery of the product tanker "Clean Imperial," further expanding its capacity. A significant strategic pivot occurred in 2023 when the company achieved debt-free status by completely paying down its outstanding debt obligations, providing maximum financial flexibility for future growth. The company has also implemented a mixed employment strategy, increasing time charter coverage by 180% compared to 2023 levels to provide more predictable revenue streams while maintaining spot market exposure for upside potential. The company has demonstrated opportunistic capital allocation, including share buyback programs that repurchased 4.2 million shares for $8.3 million and the retirement of outstanding warrants. Management has also shown tactical fleet management skills, such as selling the Aframax tanker Gstaad Grace II for $42 million in 2024 and repositioning tankers to more profitable Western markets. Recent strategic focus has centered on building cash reserves, which grew 67% in 2024 to over $200 million, and optimizing vessel deployment between spot and time charter markets based on prevailing conditions. The company has maintained conservative capital expenditure policies while generating substantial free cash flow, positioning itself for potential acquisition opportunities during market downturns.
IMPP company profile · for informational purposes only — not investment advice.
Track IMPP with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free