Diana Shipping Inc. (DSX) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Diana Shipping Inc. $2.71, price $2.88, upside -5.9%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $1.28 – $4.44 · fair‑value band $1.83 – $3.08 · the $2.88 price screens above the $2.71 fair value. Dashed = 300-day average. As of Sep 23, 2026.
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Diana Shipping Inc. provides shipping transportation services worldwide. It also engages in the ownership and bareboat charter-in of dry bulk carriers. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes.
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Diana Shipping Inc. provides shipping transportation services worldwide. It also engages in the ownership and bareboat charter-in of dry bulk carriers. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes. December 31, 2025, the company had a fleet of 36 dry bulk carriers, owned and chartered-in, consisting of nineUltramax, five Panamax, six Kamsarmax, four Post-Panamax, eight Capesize and four Newcastlemaxvessels, having a combined carrying capacity of approximately 4.1 million dwt. The company was formerly known as Diana Shipping Investments Corp. and changed its name to Diana Shipping Inc. in February 2005. Diana Shipping Inc. was incorporated in 1999 and is based in Athens, Greece.
Stock analysis
Diana Shipping Inc. (DSX) currently trades at $2.88, while our model-based Fair Value estimate is $2.71, implying the stock looks roughly 6.3% fairly valued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $2.73 per share, and 8 of the 22 models we run sit above the $2.88 price.
Bear case: the Dividend Discount group reads lowest at $0.7800, and 14 of the 22 models stay below the price. Evidence for this calculation is high.
Scenario range: $1.83 (bear) to $3.08 (bull), the price of $2.88 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 50/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Diana Shipping Inc. reported revenue of $214M in FY2025 versus $214M in FY2021, a compound −0.1%/yr. Reported net income was $17.8M in FY2025, compounding −25.3%/yr from FY2021.
Key figures
Market cap $370M · P/E ratio 5.9 · P/S ratio 0.49 · EPS (TTM) $0.4900 · Dividend yield 1.4% · Net margin 8.3% · Return on equity 11.5% · Return on assets (EBIT) 7.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 87% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 61% fair-value upside, at −6%, DSX screens richer than that median.
Fair Value models
Bear $1.83Fair Value $2.71Bull $3.08
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.3304 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−6.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−9.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.7%
Start year 2020 (pandemic). Over 10 years: +3.1% a year
Revenue growth 24 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−16.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−18.0%
Dividend (yield on the price)1.4%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−4% → 20%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +0.8% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Marine Shipping · 235 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside−6% · Below median
Profitability
Return on equity (TTM)12% · Above median
Return on assets2% · Below median
Net margin (TTM)28% · Top 25%
Operating margin (TTM)21% · Above median
Growth and dividend
Revenue growth5% · Above median
Dividend yield (TTM)1.4% · Below median
Balance sheet
Debt / equity0.94× · Highest 25%
Valuation Multiplesvs Marine Shipping median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Diana Shipping Inc. Fair Value". https://www.fairvalue-calculator.com/stock/DSX
Frequently asked questions
Is Diana Shipping Inc. (DSX) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $2.71 versus a price of $2.88, about −6% upside (fairly valued).
What is the fair value of DSX?
Our model-based fair value for Diana Shipping Inc. is $2.71 (as of Sep 23, 2026), built from audited fundamentals. The current price: $2.88.
What is the quality score of DSX?
Diana Shipping Inc. has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Diana Shipping Inc. (DSX)?
Our model-based price target is the fair value of $2.71 (as of Sep 23, 2026) from 24 valuation models. Cautious scenario $1.83, optimistic scenario $3.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Diana Shipping Inc. stock forecast for 2026?
Our models put fair value at $2.71, about −6% upside versus a price of $2.88 (fairly valued). Cautious scenario $1.83, optimistic scenario $3.08. The calculation is refreshed regularly with new filings.
What is the revenue of Diana Shipping Inc. (DSX)?
Diana Shipping Inc. reported trailing-twelve-month revenue of about $216M (latest available figure, as of Sep 23, 2026).
Does Diana Shipping Inc. pay a dividend?
Diana Shipping Inc. currently shows a dividend yield of about 1.39% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Diana Shipping Inc. (DSX)?
For today's price to be fair in a discounted-cash-flow model, Diana Shipping Inc. would have to grow free cash flow by +3.2 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.7 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of DSX use?
Our models discount Diana Shipping Inc. at 9.8 %: a base by market capitalisation (small), damped by beta 0.46, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Diana Shipping Inc. that is +3.2 % per year a year over ten years, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Diana Shipping Inc. (DSX) delivered so far?
Over the past 5 years revenue at Diana Shipping Inc. grew +4.7 % a year. The price currently implies +3.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Diana Shipping Inc. (DSX) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Diana Shipping Inc. (+3.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Diana Shipping Inc. (DSX)?
The free-cash-flow yield on the price is 13.19 %: that much free cash flow Diana Shipping Inc. produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Diana Shipping Inc. (DSX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Diana Shipping Inc. it is $2.71 per share (as of Sep 23, 2026), against a price of $2.88. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Diana Shipping Inc. stock overvalued or undervalued in 2026?
As of Sep 23, 2026, DSX trades above its calculated fair value: price $2.88, fair value $2.71, a gap of about −6% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DSX?
No. The price is what the market pays today ($2.88); the fair value is what the company's own numbers justify ($2.71). For Diana Shipping Inc. the two are $0.1700 per share apart. That gap is exactly why we show both numbers side by side.
How much is Diana Shipping Inc. worth?
The market values Diana Shipping Inc. at about $370M (market capitalisation, as of Sep 23, 2026). Per share that is $2.88; our models calculate a fair value of $2.71 per share.
What do the bullish and bearish scenarios say about DSX?
Our models span a range for Diana Shipping Inc.: cautious scenario $1.83, base $2.71, optimistic $3.08 per share (as of Sep 23, 2026, price $2.88). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DSX?
Diana Shipping Inc. trades at a price-to-earnings ratio of 5.9 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $2.71 is built from several models across several years. Other multiples: PEG 1.4, P/B 0.7, P/S 1.7, EV/EBITDA 9.6.
What is the PEG ratio of DSX?
The PEG ratio of Diana Shipping Inc. is 1.44 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Diana Shipping Inc. (DSX)?
Balance-sheet figures for Diana Shipping Inc. (as of Sep 23, 2026): return on equity 11.5%, debt of 0.94 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is DSX from its 52-week high?
Diana Shipping Inc. trades at $2.88, about 7% below its 52-week high of $3.11 and 87% above the low of $1.54 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $2.71 is for.
Which stocks are comparable to Diana Shipping Inc.?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Diana Shipping Inc. stock attractive at the current price?
The data as of Sep 23, 2026: price $2.88, calculated fair value $2.71 (−6%), Quality Score 50/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DSX calculated?
We run Diana Shipping Inc. through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $2.71, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.2 % above its aggregate fair value. Diana Shipping Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Diana Shipping Inc. (DSX)?
The closing price on Sep 23, 2026 was $2.88. Our model-based fair value is $2.71, about −6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Diana Shipping Inc. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Diana Shipping Inc.
How large is the market capitalisation of Diana Shipping Inc. (DSX)?
The market capitalisation of Diana Shipping Inc. is $370M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Diana Shipping Inc. (DSX)?
The price-to-sales ratio of Diana Shipping Inc. is 0.49 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Diana Shipping Inc. (DSX)?
Earnings per share at Diana Shipping Inc. are $0.4900 (price ÷ EPS = P/E 5.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Diana Shipping Inc. (DSX)?
The dividend yield of Diana Shipping Inc. is 1.4% (payout 8.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Diana Shipping Inc. (DSX)?
The net margin of Diana Shipping Inc. is 8.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Diana Shipping Inc. (DSX)?
The return on equity (ROE) of Diana Shipping Inc. is 11.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Diana Shipping Inc. (DSX)?
On an EBIT basis the return on assets of Diana Shipping Inc. is 7.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Diana Shipping Inc. (DSX)?
The operating margin of Diana Shipping Inc. is 21.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Diana Shipping Inc. (DSX)?
Revenue at Diana Shipping Inc. is growing +4.7% versus a year earlier (3y avg −9.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Diana Shipping Inc. (DSX)?
Earnings per share at Diana Shipping Inc. are growing +466% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Diana Shipping Inc. (DSX) carry?
The net debt of Diana Shipping Inc. is $514M (fiscal year 2025, ≈ 11.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 23, 2026