olivLaw · US equity research
Capital Clean Energy Carriers Corp. CCEC
Deep Sea Foreign Transportation of Freight · SIC 4412
Capital Clean Energy Carriers Corp. is an international ocean-going vessel owner focused on LNG carriage, with LPG and wider energy transition gas as planned growth areas and a fleet under expansion. Revenue reached 392.7 million USD in 2025, and the company is shifting toward new vessel types, which makes its profile relevant for investors following gas shipping.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Capital Clean Energy Carriers Corp. (CCEC) stock was 20.98 USD (−2.42% on the day), with market capitalisation 1.2 bn USD, P/E 7.3 on diluted EPS of 2.88 USD over the last 12 months, beta 0.22, 52-week range 17.32–23.65 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 51.3
- neutral
- Bollinger (20, 2)
- 19.24 – 21.77
- in the upper half of the band · %B 0.69 · band width 12.3%
- SMA 50 / 200
- 21.33 / 21.41
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.02 / -0.23
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +1.4% | −1.1% | +2.5 pp | — |
| 3 months | −8.1% | −0.5% | −7.7 pp | — |
| 6 months | +3.8% | +4.4% | −0.6 pp | — |
| Year to date | +0.5% | +12.3% | −11.8 pp | — |
| 1 year | +2.8% | +13.5% | −10.7 pp | — |
| 3 years | +55.5% | +76.4% | −20.9 pp | — |
| 5 years | +51.7% | +63.7% | −12.0 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 5-quarter history (min 2.2, median 6.6, max 7.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 117.6 m | 108.4 m | 140.9 m | 184.7 m | 299.1 m | unavailable | unavailable | unavailable |
| Revenue YoY | +0.8% | −7.8% | +30.0% | +31.1% | +62.0% | unavailable | unavailable | unavailable |
| Net income | -104.0 k | unavailable | 30.4 m | 98.2 m | 125.4 m | 47.2 m | 193.6 m | 170.8 m |
| Net income YoY | −100.3% | unavailable | unavailable | +223.3% | +27.7% | −62.4% | +310.2% | −11.8% |
| Diluted EPS | unavailable | unavailable | unavailable | 5.14 | 6.19 | 2.15 | 2.60 | 2.88 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | +20.4% | −65.3% | +20.9% | +10.8% |
| net % | -0.1% | unavailable | 21.6% | 53.2% | 41.9% | unavailable | unavailable | unavailable |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 273.8 m USD
- Financial debt
- 2.4 bn USD
- Net debt
- 2.1 bn USD
- Equity
- 1.5 bn USD
- Total assets
- 4.1 bn USD
- Debt / equity
- 1.57x
- Current ratio
- 1.38x
- ROE
- 12.0%
- ROA
- 4.2%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 140.9 m | 184.7 m | 299.1 m | — | — | — | SEC (XBRL)· 26 Apr 2023verified |
| SG&A | — | 2.0 m | 2.2 m | 2.6 m | — | — | SEC (XBRL)· 23 Apr 2024verified |
| Operating income | 47.2 m | 118.1 m | 133.8 m | 91.3 m | 177.7 m | 213.9 m | SEC (XBRL)· 27 Apr 2026verified |
| Depreciation & amortisation | 41.4 m | 46.9 m | 41.0 m | 47.6 m | 76.5 m | 87.2 m | SEC (XBRL)· 27 Apr 2026verified |
| EBITDA | 88.6 m ≈ | 165.0 m ≈ | 174.9 m ≈ | 138.9 m ≈ | 254.1 m ≈ | 301.1 m ≈ | SEC (XBRL)· 27 Apr 2026derived |
| Interest expense | 13.8 m | 16.6 m | 44.0 m | 82.3 m | 121.0 m | 99.1 m | SEC (XBRL)· 27 Apr 2026verified |
| Net income | 30.4 m | 98.2 m | 125.4 m | 47.2 m | 193.6 m | 170.8 m | SEC (XBRL)· 27 Apr 2026verified |
| Diluted EPS | — | 5.14 | 6.19 | 2.15 | 2.60 | 2.88 | SEC (XBRL)· 27 Apr 2026verified |
| Weighted average diluted shares | — | 18.3 bn | 19.3 bn | 21.2 m | 56.1 m | 59.2 m | SEC (XBRL)· 27 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 47.3 m | 20.4 m | 144.6 m | 191.8 m | 312.7 m | 273.8 m | SEC (XBRL)· 27 Apr 2026verified |
| Receivables | 2.9 m | 6.0 m | 2.1 m | 3.1 m | 3.7 m | 8.4 m | SEC (XBRL)· 27 Apr 2026verified |
| Inventories | 3.5 m | 5.0 m | 6.8 m | 3.0 m | 4.4 m | 4.0 m | SEC (XBRL)· 27 Apr 2026verified |
| Current assets | 57.8 m | 37.7 m | 166.3 m | 225.5 m | 405.5 m | 426.0 m | SEC (XBRL)· 27 Apr 2026verified |
| Property, plant & equipment, net | 712.2 m | 1.8 bn | 1.8 bn | 2.4 bn | 3.3 bn | 3.6 bn | SEC (XBRL)· 27 Apr 2026verified |
| Total assets | 822.2 m | 1.9 bn | 2.0 bn | 3.1 bn | 4.1 bn | 4.1 bn | SEC (XBRL)· 27 Apr 2026verified |
| Accounts payable | — | — | 1.0 m | 4.2 m | 3.5 m | 5.6 m | SEC (XBRL)· 27 Apr 2026verified |
| Short-term debt | 35.8 m | 97.9 m | 73.2 m | 93.5 m | 117.1 m | 122.1 m | SEC (XBRL)· 27 Apr 2026verified |
| Long-term debt | 338.5 m | 1.2 bn | 1.2 bn | 1.6 bn | 2.3 bn | 2.2 bn | SEC (XBRL)· 27 Apr 2026verified |
| Current liabilities | 61.6 m | 130.8 m | 118.6 m | 183.9 m | 243.5 m | 309.5 m | SEC (XBRL)· 27 Apr 2026verified |
| Total liabilities | 400.1 m | 1.4 bn | 1.4 bn | 2.0 bn | 2.8 bn | 2.6 bn | SEC (XBRL)· 27 Apr 2026verified |
| Equity | — | — | — | 1.2 bn † | 1.3 bn † | 1.5 bn † | SEC (XBRL)· 27 Apr 2026verified |
| Shares outstanding at year end | 18.6 m | 19.4 m | 20.3 m | 55.0 m | 58.4 m | 59.5 m | SEC (XBRL)· 27 Apr 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 80.7 m | 111.2 m | 172.6 m | 189.4 m | — | — | SEC (XBRL)· 23 Apr 2024verified |
| Investing cash flow | -185.2 m | -175.1 m | -14.1 m | -447.1 m | — | — | SEC (XBRL)· 23 Apr 2024verified |
| Financing cash flow | 95.4 m | 40.6 m | -35.1 m | 307.0 m | — | — | SEC (XBRL)· 23 Apr 2024verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 1.2 bn USD
Key indicators
Coverage and freshness
Score by group
60% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 5.1% | 24 (on a fixed band) | 17% |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 40.3% | 100 (on a fixed band) | 14% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 6.9x | 0 (on a fixed band) | 17% |
| Interest coverage · Balance sheet | 2.2x | 10 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 1.4x | 48 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 7.3x | 100 (on a fixed band) | 17% |
| EV/EBITDA · Valuation | 11.1x | 36 (on a fixed band) | 17% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet13/100 · 3/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality· partial24/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation68/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
CAPITAL CLEAN ENERGY CARRIERS CORP. (CCEC). Latest full fiscal year: 2022; data up to 2025-12-31.
Figures computed from the financial statements: revenue 299.1 m USD in 2022; YoY growth 62.0%; ROE 12.0%; net debt/EBITDA 6.9x.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 40.3%
- P/E (TTM): 7.3x
What contradicts it
- ROIC: 5.1%
- Net debt / EBITDA: 6.9x
- Interest coverage: 2.2x
Not assessed (insufficient data or a ratio without meaning): Net margin, FCF conversion, EPS CAGR 3Y, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Not enough comparable companies with data for an average.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 27 Apr 2026; since then the company filed 6-K (05 Oct 2026), 6-K (10 Aug 2026), 6-K (04 Aug 2026), 6-K (11 May 2026).
In brief
Capital Clean Energy Carriers Corp. is an international ocean-going vessel owner focused on LNG carriage, with LPG and wider energy transition gas as planned growth areas and a fleet under expansion. Revenue reached 392.7 million USD in 2025, and the company is shifting toward new vessel types, which makes its profile relevant for investors following gas shipping.
SWOT
Strengths
- The company has a modern LNG fleet and a portfolio of long-term charters with major energy-industry customers.
- Its sponsor and affiliated managers bring long experience in shipping, and the company has widened its financing through bonds and currency hedging instruments.
- The newbuild pipeline gives visibility on expanding capacity in the coming years.
Weaknesses
- The company depends on a relatively small number of customers, and losing one could significantly affect revenues.
- Debt and finance costs remain high, and commitments for new vessels increase pressure on cash flows.
- Experience in the LPG and transition segments is still limited, since its only LCO2 vessel was delivered recently.
Opportunities
- Development of low-carbon ammonia and LCO2 markets could open new charter contracts if regulation and investment materialise.
- Long-term contracts, such as the one associated with the Amore Mio I, could provide predictable revenue for several years.
- A recovery in LNG projects could reduce oversupply and support charter rates.
Threats
- LNG oversupply and falling rates could reduce profitability of vessels not committed on long-term charters.
- If trade tensions or sanctions reduce energy trade, shipping demand could decline.
- Environmental regulation and compliance costs could rise, affecting the profitability of older vessels.
Risks
- Customer concentrationhigh
Revenue comes from a limited number of charterers, and losing one customer or contract could lead to significant drops in revenue and cash flow 1.
- Vessel oversupplyhigh
New vessel deliveries could keep charter rates low, making it difficult to employ vessels at profitable rates 1.
- Execution of the newbuild programmemedium
The company may not realise the expected benefits of its vessels under construction, and shipyard delays could postpone deliveries and revenue 1.
- Debt and cost of financingmedium
High debt and floating interest rates could raise finance costs and limit access to new capital 1.
- Vessel valuesmedium
Falling vessel values could generate losses on sale or impairments and could affect compliance with loan covenants 1.
Investment thesis
What would need to be true (bull case)
- Revenue rose in 2025 compared with the prior year, and the newbuild pipeline could significantly expand transport capacity in the coming years 1.
- Long-term charters and joint ventures with energy-industry partners could bring more stable revenue.
- If ammonia and LCO2 markets develop, the company could benefit from its early position in this segment.
What would break the thesis
- LNG oversupply could keep rates low and limit revenue growth from charters.
- Large commitments for new vessels and high debt could strain cash flow and limit distributions to shareholders.
- If energy transition markets are slow to develop, investments in the LPG and LCO2 segments could earn lower returns than expected.
What to watch
- Delivery of newbuilds and adherence to shipyard schedules2026-2027
- Completion of the sale of the Amore Mio I to the BGN JV and related refinancingQ1 2027
- Pre-delivery and remaining payments under the Hyundai contract2027-2029
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 27 Apr 2026; since then the company filed 6-K (05 Oct 2026), 6-K (10 Aug 2026), 6-K (04 Aug 2026), 6-K (11 May 2026).
The business
Its core activity is chartering vessels to customers, mainly energy producers and traders such as BGT, BP, Cheniere, Engie, Jera, Tokyo Gas and Geogas. The company relies on external financing, including bank loans, sale-and-leaseback arrangements and bond issuance, to acquire new vessels 1. Dependence on a small number of charterers is an important factor in assessing it.
Beyond the operating fleet, the company has nine LNG/C newbuilds, six dual-fuel MG/C vessels and three LCO2 – HMG/C vessels under construction, with deliveries planned between the second quarter of 2026 and the first quarter of 2029. This pipeline defines the company's direction and how it may diversify its revenue in coming years 1.
Segments
LNG carriage
The LNG segment makes up most of the current fleet, and performance depends on LNG demand and available shipping capacity. LNG/C charter rates declined from 2023 and in 2024 and 2025 were significantly lower than the prior year, due to an oversupplied freight market 1.
LPG carriage and energy transition
The LPG segment began with the delivery of the LCO2 – HMG/C Active in January 2026, and the company expects to operate in the wider energy transition gas market in future. These markets are still developing, and their rates and profitability are uncertain 1.
Market context
LNG shipping is cyclical, with high volatility in charter rates driven by LNG project volumes, newbuild deliveries and energy prices. LPG shipping is similarly cyclical, while large-scale markets for ammonia and LCO2 carriage do not yet exist, so development of the transition segment depends on government and industry investment 1.
The container market, marginal for this company, saw charter rates rise in 2025 after declines in 2023, illustrating the cyclical nature of shipping markets in general 1.
Trends
- LNG carrier oversupplyheadwind
Newbuild deliveries exceeded demand in 2024 and 2025, and charter rates fell substantially. If oversupply persists, charter revenues could remain below earlier levels 1.
- New LNG projectsmixed
Delays in LNG projects limited vessel demand, while strong European demand freed capacity in 2025. A recovery of projects could support rates over the medium term 1.
- Energy transition and low-carbon ammoniamixed
Markets for low-carbon ammonia and LCO2 carriage are developing, but the company notes that large-scale markets do not yet exist. Their development depends on public and private investment and regulation 1.
- Trade tensions and regulationheadwind
Trade tariffs, sanctions and emissions rules such as the EU ETS and FuelEU Maritime may change shipping demand and operating costs 1.
- Interest rates and financingmixed
Finance costs fell in 2025 compared with 2024, reducing interest expense, but long periods of high interest rates could raise the cost of capital needed for new acquisitions 1.
Competitive position
The company competes with other LNG, LPG and container vessel owners, both in Greece and elsewhere. Competition sets charter rates and the ability to secure long-term contracts, while entry into new markets depends on financing and vessel availability 1.
Its competitive position is also shaped by its relationship with its sponsor and by ship management provided by affiliated managers, which may offer cost-competitive operations but also creates dependence on that group 1.
- Greek LNG fleet operators
Greek ship owners operating LNG carriers that compete for the same long-term charters, referenced in the context of the LNG market in the source.
- LPG carrier operators
Companies transporting LPG that compete for contracts in the segment the company is developing after delivering its LCO2 – HMG/C Active.
- Container vessel owners
Container ship operators competing for cargo transport, a segment the company is gradually leaving while still holding one vessel.
- Energy traders and producers
Customers and potential competitors in the shipping market, which can also be partners through charters or joint ventures, as with the BGN arrangement.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Capital Clean Energy Carriers Reports 44% Revenue Growth in Q3To Vima International (GR, EN) · 02 Nov 2026 · EN
SEC filings
- Current report (foreign issuer)05 Oct 2026
- Current report (foreign issuer)10 Aug 2026
- Current report (foreign issuer)04 Aug 2026
- Current report (foreign issuer)11 May 2026
- Annual report (foreign issuer)27 Apr 2026
- Current report (foreign issuer)13 Mar 2026
- Current report (foreign issuer)24 Feb 2026
- Current report (foreign issuer)13 Feb 2026
- Current report (foreign issuer)23 Jan 2026
- Current report (foreign issuer)08 Jan 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Capital Clean Energy Carriers Corp. · 27 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.