What is United Maritime's operating income?

United Maritime's total operating income in 2025 was -$455 thousand, based on the following breakdown: Total Gross Profit: $37.79 million Total Operating Expenses: $38.24 million

United Maritime (USEA) Financials

$2.63 -0.07 (-2.59%)

Closing price 04:00 PM Eastern

Extended Trading

$2.64 +0.00 (+0.19%)

As of 07:34 PM Eastern

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Annual Income Statements for United Maritime

This table shows United Maritime's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	0.13	-3.38	-6.19
Consolidated Net Income / (Loss)	0.22	-3.38	-6.21
Net Income / (Loss) Continuing Operations	0.22	-3.38	-6.21
Total Pre-Tax Income	0.22	-3.38	-6.21
Total Operating Income	7.08	4.82	-0.46
Total Gross Profit	36	45	38
Total Revenue	36	45	38
Operating Revenue	36	45	38
Total Cost of Revenue	0.00	0.00	0.00
Total Operating Expenses	29	41	38
Selling, General & Admin Expense	6.02	4.01	4.31
Depreciation Expense	9.08	9.71	7.82
Amortization Expense	0.29	3.72	3.00
Other Operating Expenses / (Income)	25	24	23
Impairment Charge	0.00	0.83	2.14
Other Special Charges / (Income)	-12	-1.43	-1.77
Total Other Income / (Expense), net	-6.86	-8.20	-5.76
Interest Expense	7.27	8.81	7.01
Interest & Investment Income	0.43	0.17	0.13
Other Income / (Expense), net	-0.02	0.44	1.12
Preferred Stock Dividends Declared	0.10	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.00	-0.03
Basic Earnings per Share	$0.02	($0.39)	($0.70)
Weighted Average Basic Shares Outstanding	8.36M	8.71M	8.87M
Diluted Earnings per Share	$0.02	($0.39)	($0.70)
Weighted Average Diluted Shares Outstanding	8.36M	8.71M	8.87M
Weighted Average Basic & Diluted Shares Outstanding	8.73M	8.88M	9.12M

No quarterly income statements for United Maritime are available.

This table details how cash moves in and out of United Maritime's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-55	-7.74	7.80
Net Cash From Operating Activities	-6.23	3.26	2.21
Net Cash From Continuing Operating Activities	-6.23	3.26	2.21
Net Income / (Loss) Continuing Operations	0.22	-3.38	-6.21
Consolidated Net Income / (Loss)	0.22	-3.38	-6.21
Depreciation Expense	9.08	9.71	7.82
Amortization Expense	1.07	4.44	3.56
Non-Cash Adjustments To Reconcile Net Income	-9.97	2.94	1.53
Changes in Operating Assets and Liabilities, net	-6.62	-10	-4.48
Net Cash From Investing Activities	-59	7.95	40
Net Cash From Continuing Investing Activities	-59	7.95	40
Purchase of Property, Plant & Equipment	-82	-0.25	-0.67
Acquisitions	0.00	-3.73	-9.02
Purchase of Investments	0.00	0.00	-0.29
Sale of Property, Plant & Equipment	38	20	51
Other Investing Activities, net	-15	-8.29	-0.09
Net Cash From Financing Activities	9.94	-19	-35
Net Cash From Continuing Financing Activities	9.94	-19	-35
Repayment of Debt	-32	-34	-34
Repurchase of Common Equity	-2.47	-2.09	-0.22
Payment of Dividends	-9.36	-2.64	-1.12
Issuance of Debt	55	47	2.00
Issuance of Common Equity	1.88	0.00	0.02
Other Financing Activities, net	-2.75	-28	-1.81
Cash Interest Paid	6.34	7.60	5.95

No quarterly cash flow statements for United Maritime are available.

This table presents United Maritime's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	126	175	172	139
Total Current Assets	60	19	24	33
Cash & Equivalents	55	14	6.41	14
Restricted Cash	-	-	0.00	0.40
Note & Lease Receivable	-	0.00	0.00	0.00
Accounts Receivable	0.78	0.39	1.44	1.81
Inventories, net	0.11	0.66	0.65	0.36
Prepaid Expenses	0.99	0.55	0.60	0.41
Other Current Assets	3.21	3.69	0.50	1.20
Other Current Nonoperating Assets	-	0.00	15	15
Plant, Property, & Equipment, net	50	153	138	85
Plant, Property & Equipment, gross	50	153	138	85
Total Noncurrent Assets	16	3.19	9.44	20
Long-Term Investments	0.44	2.49	7.94	19
Other Noncurrent Operating Assets	15	0.70	1.51	1.45
Total Liabilities & Shareholders' Equity	126	175	172	139
Total Liabilities	61	109	112	82
Total Current Liabilities	25	53	34	49
Short-Term Debt	7.47	8.69	18	14
Accounts Payable	3.02	3.31	1.82	2.40
Accrued Expenses	5.50	8.05	2.68	4.08
Dividends Payable	7.37	0.65	0.66	0.82
Current Deferred Revenue	1.03	0.53	1.40	0.59
Other Current Liabilities	0.83	32	9.30	26
Total Noncurrent Liabilities	36	56	78	34
Long-Term Debt	35	56	61	34
Other Noncurrent Operating Liabilities	0.74	0.00	17	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	65	66	60	56
Total Preferred & Common Equity	65	66	60	53
Preferred Stock	0.00	0.00	0.00	0.00
Total Common Equity	65	66	60	53
Common Stock	35	39	39	39
Retained Earnings	29	27	21	13
Accumulated Other Comprehensive Income / (Loss)	-	0.00	-0.00	0.01
Noncontrolling Interest	-	-	0.00	3.55

No quarterly balance sheets for United Maritime are available.

This table displays calculated financial ratios and metrics derived from United Maritime's official financial filings.

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	8,734,630.00	8,884,267.00	9,123,645.00
DEI Adjusted Shares Outstanding	8,734,630.00	8,884,267.00	9,123,645.00
DEI Earnings Per Adjusted Shares Outstanding	0.01	-0.38	-0.68
Growth Metrics	-	-	-
Revenue Growth	0.00%	25.99%	-16.84%
EBITDA Growth	0.00%	12.86%	-37.96%
EBIT Growth	0.00%	-25.51%	-87.31%
NOPAT Growth	0.00%	-52.36%	-109.44%
Net Income Growth	0.00%	-1,630.77%	-83.68%
EPS Growth	0.00%	-2,050.00%	-79.49%
Operating Cash Flow Growth	0.00%	152.41%	-32.23%
Free Cash Flow Firm Growth	0.00%	0.00%	575.32%
Invested Capital Growth	0.00%	-3.91%	-48.43%
Revenue Q/Q Growth	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-
Gross Margin	100.00%	100.00%	100.00%
EBITDA Margin	47.70%	42.73%	31.88%
Operating Margin	19.63%	10.60%	-1.20%
EBIT Margin	19.57%	11.57%	1.77%
Profit (Net Income) Margin	0.61%	-7.45%	-16.45%
Tax Burden Percent	100.00%	100.00%	100.00%
Interest Burden Percent	3.13%	-64.34%	-931.63%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	6.17%	3.00%	-0.38%
ROIC Less NNEP Spread (ROIC-NNEP)	-7.86%	-10.64%	-23.69%
Return on Net Nonoperating Assets (RNNOA)	-5.83%	-8.37%	-10.28%
Return on Equity (ROE)	0.34%	-5.37%	-10.66%
Cash Return on Invested Capital (CROIC)	0.00%	6.99%	63.52%
Operating Return on Assets (OROA)	4.70%	3.03%	0.43%
Return on Assets (ROA)	0.15%	-1.95%	-4.00%
Return on Common Equity (ROCE)	0.34%	-5.37%	-10.34%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	7.08	3.37	-0.32
NOPAT Margin	19.63%	7.42%	-0.84%
Net Nonoperating Expense Percent (NNEP)	14.03%	13.64%	23.30%
Return On Investment Capital (ROIC_SIMPLE)	5.43%	2.43%	-0.31%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	16.69%	8.83%	11.40%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	80.37%	89.40%	101.20%
Earnings before Interest and Taxes (EBIT)	7.06	5.26	0.67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	17	19	12
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.24	0.22	0.27
Price to Tangible Book Value (P/TBV)	0.24	0.22	0.27
Price to Revenue (P/Rev)	0.44	0.29	0.38
Price to Earnings (P/E)	126.12	0.00	0.00
Dividend Yield	67.25%	19.58%	8.63%
Earnings Yield	0.79%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.56	0.71	0.57
Enterprise Value to Revenue (EV/Rev)	1.78	1.71	0.85
Enterprise Value to EBITDA (EV/EBITDA)	3.73	4.01	2.68
Enterprise Value to EBIT (EV/EBIT)	9.09	14.79	48.42
Enterprise Value to NOPAT (EV/NOPAT)	9.06	23.07	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	23.83	14.60
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	9.90	0.61
Leverage & Solvency	-	-	-
Debt to Equity	0.98	1.31	0.85
Long-Term Debt to Equity	0.85	1.02	0.59
Financial Leverage	0.74	0.79	0.43
Leverage Ratio	2.30	2.75	2.67
Compound Leverage Factor	0.07	-1.77	-24.84
Debt to Total Capital	49.49%	56.72%	45.90%
Short-Term Debt to Total Capital	6.66%	12.71%	13.73%
Long-Term Debt to Total Capital	42.82%	44.01%	32.17%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	3.40%
Common Equity to Total Capital	50.51%	43.28%	50.70%
Debt to EBITDA	3.75	4.06	3.98
Net Debt to EBITDA	2.80	3.32	1.19
Long-Term Debt to EBITDA	3.25	3.15	2.79
Debt to NOPAT	9.12	23.35	-150.40
Net Debt to NOPAT	6.81	19.10	-45.00
Long-Term Debt to NOPAT	7.89	18.12	-105.41
Altman Z-Score	0.41	0.54	0.39
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	3.05%
Liquidity Ratios	-	-	-
Current Ratio	0.36	0.73	0.68
Quick Ratio	0.27	0.23	0.33
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	7.86	53
Operating Cash Flow to CapEx	-14.08%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.89	7.57
Operating Cash Flow to Interest Expense	-0.86	0.37	0.32
Operating Cash Flow Less CapEx to Interest Expense	-6.95	2.64	7.42
Efficiency Ratios	-	-	-
Asset Turnover	0.24	0.26	0.24
Accounts Receivable Turnover	61.50	49.63	23.30
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	0.36	0.31	0.34
Accounts Payable Turnover	0.00	0.00	0.00
Days Sales Outstanding (DSO)	5.94	7.35	15.67
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	5.94	7.35	15.67
Capital & Investment Metrics	-	-	-
Invested Capital	115	110	57
Invested Capital Turnover	0.31	0.40	0.45
Increase / (Decrease) in Invested Capital	0.00	-4.49	-53
Enterprise Value (EV)	64	78	32
Market Capitalization	16	13	14
Book Value per Share	$8.01	$6.88	$5.96
Tangible Book Value per Share	$8.01	$6.88	$5.96
Total Capital	130	139	104
Total Debt	65	79	48
Total Long-Term Debt	56	61	34
Net Debt	48	64	14
Capital Expenditures (CapEx)	44	-20	-50
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-39	2.21	-16
Debt-free Net Working Capital (DFNWC)	-25	8.62	-1.22
Net Working Capital (NWC)	-34	-9.03	-16
Net Nonoperating Expense (NNE)	6.86	6.76	5.90
Net Nonoperating Obligations (NNO)	49	50	0.41
Total Depreciation and Amortization (D&A)	10	14	11
Debt-free, Cash-free Net Working Capital to Revenue	-108.45%	4.85%	-41.78%
Debt-free Net Working Capital to Revenue	-70.18%	18.96%	-3.24%
Net Working Capital to Revenue	-94.28%	-19.88%	-41.15%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$0.02	($0.39)	($0.70)
Adjusted Weighted Average Basic Shares Outstanding	8.36M	8.71M	8.87M
Adjusted Diluted Earnings per Share	$0.02	($0.39)	($0.70)
Adjusted Weighted Average Diluted Shares Outstanding	8.36M	8.71M	8.87M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	8.73M	8.88M	9.12M
Normalized Net Operating Profit after Tax (NOPAT)	-3.31	2.95	-0.06
Normalized NOPAT Margin	-9.17%	6.50%	-0.16%
Pre Tax Income Margin	0.61%	-7.45%	-16.45%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.97	0.60	0.10
NOPAT to Interest Expense	0.97	0.38	-0.05
EBIT Less CapEx to Interest Expense	-5.12	2.86	7.20
NOPAT Less CapEx to Interest Expense	-5.11	2.65	7.06
Payout Ratios	-	-	-
Dividend Payout Ratio	4,237.10%	-78.13%	-18.01%
Augmented Payout Ratio	5,356.56%	-139.79%	-21.61%

No quarterly metrics and ratios for United Maritime are available.

Financials Breakdown Chart

United Maritime Financials - Frequently Asked Questions

According to the most recent income statement we have on file, United Maritime's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

United Maritime's net income appears to be on an upward trend, with a most recent value of -$6.21 million in 2025, falling from $221 thousand in 2023. The previous period was -$3.38 million in 2024. Check out United Maritime's forecast to explore projected trends and price targets.

United Maritime's total operating income in 2025 was -$455 thousand, based on the following breakdown:

Total Gross Profit: $37.79 million
Total Operating Expenses: $38.24 million

Over the last 2 years, United Maritime's total revenue changed from $36.07 million in 2023 to $37.79 million in 2025, a change of 4.8%.

United Maritime's total liabilities were at $82.22 million at the end of 2025, a 26.6% decrease from 2024, and a 34.6% increase since 2022.

In the past 3 years, United Maritime's cash and equivalents has ranged from $6.41 million in 2024 to $54.73 million in 2022, and is currently $14.16 million as of their latest financial filing in 2025.

Over the last 2 years, United Maritime's book value per share changed from 8.01 in 2023 to 5.96 in 2025, a change of -25.7%.

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Financial statements for NASDAQ:USEA last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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United Maritime (USEA) Financials

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United Maritime Financials - Frequently Asked Questions

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United Maritime (USEA) Financials

Annual Income Statements for United Maritime

Quarterly Income Statements for United Maritime

Annual Cash Flow Statements for United Maritime

Quarterly Cash Flow Statements for United Maritime

Annual Balance Sheets for United Maritime

Quarterly Balance Sheets for United Maritime

Annual Metrics And Ratios for United Maritime

Quarterly Metrics And Ratios for United Maritime

Financials Breakdown Chart

United Maritime Financials - Frequently Asked Questions

When does United Maritime's financial year end?

How has United Maritime's net income changed over the last 2 years?

What is United Maritime's operating income?

How has United Maritime's revenue changed over the last 2 years?

How much debt does United Maritime have?

How much cash does United Maritime have?

How has United Maritime's book value per share changed over the last 2 years?

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