DSX (Diana Shipping) Operating Income: $37.7 Mil (TTM As of Mar. 2026)

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DSX Diana Shipping Inc DSX
67 GF Score
Price $2.15
GF Value $2.19
Valuation Fairly Valued
! 4 Warning Signs
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What is Diana Shipping Operating Income?

Diana Shipping DSX +0.94% 67 Operating Income is $37.7 Mil as of Mar. 2026. GuruFocus rates DSX with a GF Score™ of 67/100 and a GF Value™ of $2.19 (Fairly Valued). The stock has 4 warning signs investors should review.

Diana Shipping's Operating Income for the three months ended in Mar. 2026 was $11.3 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $37.7 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Diana Shipping's Operating Income for the three months ended in Mar. 2026 was $11.3 Mil. Diana Shipping's Revenue for the three months ended in Mar. 2026 was $54.7 Mil. Therefore, Diana Shipping's Operating Margin % for the quarter that ended in Mar. 2026 was 20.65%.

Diana Shipping's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Diana Shipping's annualized ROC % for the quarter that ended in Mar. 2026 was 4.73%. Diana Shipping's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 18.38%.


Diana Shipping  (NYSE:DSX) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Diana Shipping's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=45.208 * ( 1 - 0% )/( (990.753 + 919.743)/ 2 )
=45.208/955.248
=4.73 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1170.192 - 24.144 - ( 173.264 - max(0, 89.58 - 244.875+173.264))
=990.753

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Diana Shipping's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=155.876/( ( (826.663 + max(31.155, 0)) + (818.634 + max(19.824, 0)) )/ 2 )
=155.876/( ( 857.818 + 838.458 )/ 2 )
=155.876/848.138
=18.38 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3.739 + 4.137 + 62.578) - (24.144 + 4.97 + 10.185)
=31.155

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 19.824) - (0 + 0 + 0)
=19.824

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Diana Shipping's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=11.302/54.735
=20.65 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Diana Shipping Operating Income Related Terms


Diana Shipping Operating Income Historical Data

* Premium members only.

The historical data trend for Diana Shipping's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Diana Shipping Operating Income Chart

Diana Shipping Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 62.16 138.06 80.39 52.98 38.53

Diana Shipping Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 12.11 10.42 8.74 7.26 11.30
DSX
67GF Score
Diana Shipping Inc DSX
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Diana Shipping Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $37.7 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $37.7 Mil mean?
Diana Shipping (DSX) has a Operating Income of $37.7 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Diana Shipping and its competitors.
Is Diana Shipping's Operating Income too high?
Diana Shipping's current Operating Income is $37.7 Mil. Overall, Diana Shipping has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Diana Shipping's Operating Income compare to GASS and SMHI?
Diana Shipping's Operating Income of $37.7 Mil can be compared against companies in the Transportation industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Transportation company?
A good Operating Income depends on the Transportation industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Diana Shipping and its competitors. Diana Shipping's current Operating Income is $37.7 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Diana Shipping stock overvalued right now?
Based on GuruFocus' analysis, Diana Shipping (DSX) is currently considered Fairly Valued. The stock's GF Value™ is $2.19, compared to a current price of $2.15 — trading 1.8% below its estimated fair value. The current Operating Income is $37.7 Mil. Diana Shipping's overall GF Score™ is 67/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Diana Shipping (DSX), the current Operating Income is $37.7 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Diana Shipping (DSX) Overvalued in 2026?

Based on GuruFocus' analysis, Diana Shipping stock appears to be undervalued. The current stock price of $2.15 is trading 1.8% below its estimated GF Value™ of $2.19. GuruFocus considers Diana Shipping to be Fairly Valued.

Key valuation signals for DSX:

  • Operating Income: $37.7 Mil
  • GF Value™: $2.19 vs. price of $2.15 (1.8% below fair value)
  • GF Score™: 67/100 with 4 warning signs

No single metric tells the full story. See the DSX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Diana Shipping Business Description

Other Exchanges DSXpB.PFD:USADSZ:Germany
Address 175 64 Palaio Faliro, Pendelis 16, Athens, GRC, 175 64
Diana Shipping Inc provides shipping transportation services. The company, through its subsidiaries, operates a fleet of vessels consisting of dry bulk carriers such as Panamax, Kamsarmax, Post-Panamax, Capesize, and Newcastlemax vessels. Using this fleet, the firm provides transportation services for various goods, including coal, iron ore, and grains. It also transports minor bulks, including steel products, cement, and fertilizers, through its dry bulk carrier vessels. The operation of the vessels is the main source of revenue generation; the services provided by the vessels are similar, and all operate under the same economic environment.
67GF Score

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Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$2.15
Price
$2.19
GF Value