YouTube · Q2 2026 · 2026-08-19
IMPP · NasdaqCM
Imperial Petroleum Inc.
Oil & Gas Midstream · Greece
USD 5.66-2.2% daily changeQuote 2026-09-18 · USD
- Market cap (USD)
- US$255.91M
- Trailing P/E
- 2.96x
- Forward P/E
- 3.04x
- Quarterly revenue growth
- 139.6%
- Trailing net margin
- 36.8%
- Indicated dividend yield
- —
Snapshot 2026-09-20 · Latest financial period 2026-06-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Company background
Imperial Petroleum Inc., together with its subsidiaries, provides seaborne transportation services worldwide. The company owns and operates a fleet of seven medium range refined petroleum product tankers that carry refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals; two suezmax tankers that carry crude oil; four handysize drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers; five supramax drybulk carriers; two kamsarmax drybulk vessels; and a post panamax drybulk carrier. It serves oil producers, refineries, commodities traders and producers, and industrial users of drybulk cargoes. As of December 31, 2025, the company had twenty-one vessel fleet with capacity of approximately 1,324,000 dwt. Imperial Petroleum Inc. was incorporated in 2021 and is based in Athens, Greece.
Company websiteQ2 2026
Go beyond the headline.
IMPP Stock: Who Owns the Cash Windfall? — Q2 2026
Published 2026-09-14
Short takes Q2 2026
IMPP Stock: Who Owns the Cash Windfall? — Q2 2026 #Shorts
Watch Short on YouTube
Q2 2026 REPORT HIGHLIGHTS
What’s changed for IMPP
Record freight earnings meet vessel commitments, preferred claims and a changing common-share denominator.
The quarter is strong.
More vessels and better freight rates lifted operating profit, despite lower operational utilization.
The cash screen needs a new denominator.
Company shares imply about $264M equity value, above gross cash and deposits.
Fleet purchases move between cash-flow categories.
Seller financing payments make simple investing-only FCF misleading.
Ownership claims are material.
Preferred liquidation priority and the $6.30 warrant pool change per-share value.
Our discount is a judgment.
Related-party incentives and uncertain capital access explain the pre-money haircut; it is not a measured market constant.
Comparable businesses
IMPP peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | IMPPImperial Petroleum Inc.Snapshot 2026-09-20Financial period: 2026-06-30 | FLNGFLEX LNG Ltd.Snapshot 2026-09-20Financial period: 2026-06-30 | NGLNGL Energy Partners LPSnapshot 2026-09-20Financial period: 2026-06-30 |
|---|---|---|---|
| Market capMarket value, converted to USD | US$255.91M | US$1.75B | US$2.00B |
| Forward P/EProvider forward earnings estimate | 3.04x | 15.02x | — |
| EV / EBITDAEnterprise value / trailing EBITDA | 0.10x | 13.18x | 9.00x |
| Revenue growthLatest quarter vs prior-year quarter | 139.6% | 24.2% | 59.1% |
| Operating marginLatest reported quarter | 38.4% | 55.7% | 14.9% |
| Free cash flow yieldTrailing cash flow / market cap | -8.0% | 8.2% | 4.0% |
| Net debt / EBITDANet debt / trailing EBITDA | -2.14x | 5.84x | 5.09x |
| Debt / equityTotal debt / positive book equity | 0.00x | 2.55x | — |
| Trailing P/ETrailing twelve-month earnings | 2.96x | 17.06x | — |
| Price / bookPrice / positive book equity per share | 0.44x | 2.50x | — |
| EV / salesEnterprise value / trailing revenue | 0.05x | 8.74x | 1.70x |
| Earnings growthLatest quarter vs prior-year quarter | 104.1% | 159.1% | 1,128.6% |
| Gross marginTrailing twelve months | 50.3% | 73.3% | 29.5% |
| Net marginTrailing twelve months | 36.8% | 28.5% | -3.8% |
| Return on equityProvider trailing return; positive equity only | 17.2% | 14.0% | — |
| Free cash flow marginTrailing free cash flow / revenue | -8.4% | 39.7% | 2.3% |
| Dividend yieldIndicated annual dividend / price | — | 9.3% | — |
| Earnings payoutProvider trailing dividend payout | 0.0% | 157.9% | 0.0% |
| Current ratioCurrent assets / current liabilities | 4.77x | 2.69x | 1.14x |
| BetaProvider historical market sensitivity | 1.19 | 0.16 | 0.66 |
YouTube · Q2 2026 · 2026-08-19
YouTube · Q4 FY2026 · 2026-06-01
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-09-20. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for IMPP
Q2 20262026-09-14
FREE RESEARCH PACKET · Q2 2026
IMPP: Who Owns the Cash Windfall?
Record freight earnings meet vessel commitments, preferred claims and a changing common-share denominator.
Research published September 14, 2026 · Download original report
Read Research PacketIMPP Stock: Who Owns the Cash Windfall? — Q2 2026
Presentation · 2026-09-14 · YouTube
Short takes Q2 2026
IMPP Stock: Who Owns the Cash Windfall? — Q2 2026 #Shorts
Watch Short on YouTube