United Maritime (USEA) Cash Flow: Operating & Free Cash Flow

United Maritime (USEA) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), United Maritime generated $2.21M of operating cash flow and spent $757.00K on capital expenditures. That left free cash flow of $1.46M, down 51.7% from $3.02M a year earlier, or 3.9% of revenue. It returned $1.32M to shareholders through $1.12M in dividends and $204.00K in share buybacks.

United Maritime Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for United Maritime Corporation (USEA) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Operating Activities
Net Income	-6.21	-3.38	0.22	37.49	2.17	1.09	-0.28
Depreciation & Amortization	7.82	9.71	9.36	1.90	1.17	0.76	0.76
Stock Based Compensation	0.48	0.78	2.52	2.79	0.00	0.00	0.00
Change in Working Capital	-3.07	-7.98	-7.38	0.68	-0.02	-1.22	-0.17
Change in Accounts Receivable	0.02	-1.04	0.53	-0.66	-0.07	0.48	0.10
Change in Inventory	0.31	-0.08	-0.53	0.09	-0.05	0.00	0.71
Change in Accounts Payable	-1.69	0.71	-1.57	-2.19	0.00	-1.93	-0.22
Change in Other Working Capital	-1.72	4.44	-6.45	0.51	0.09	0.11	-0.76
Other Operating Activities	3.20	4.44	-10.96	0.51	0.34	-1.49	0.31
Net Cash from Operating Activities	2.21	3.26	-6.23	7.88	3.66	-0.44	0.62
Investing Activities
Capital Expenditures	-0.76	-0.25	-81.75	-93.52	-0.06	-0.01	-0.01
Acquisitions	-9.02	-3.73	0.00	0.00	0.00	0.00	0.00
Purchases of Investments	-0.29	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	50.50	11.93	-14.89	-12.69	0.00	0.00	0.00
Net Cash from Investing Activities	40.43	7.95	-59.14	6.49	-0.06	-0.01	-0.01
Financing Activities
Debt Repayment	-33.74	-65.78	-34.61	-34.75	-0.80	-9.02	-1.80
Common Stock Issued	0.00	0.00	1.88	24.97	0.00	1.96	0.00
Common Stock Repurchased	-0.20	-0.47	-0.67	-16.50	-2.44	0.00	0.00
Dividends Paid	-1.12	-2.64	-9.36	-0.24	0.00	0.00	0.00
Other Financing Activities	0.22	2.79	-1.80	-0.91	0.00	1.78	2.78
Net Cash from Financing Activities	-34.84	-18.95	9.94	55.57	-3.24	-0.73	0.98
Summary
Net Change in Cash	7.80	-7.74	-55.43	69.93	0.36	-1.19	1.59
Cash at Beginning of Period	6.76	14.50	69.93	0.00	0.41	1.59	0.00
Cash at End of Period	14.56	6.76	14.50	69.93	0.77	0.41	1.59
Free Cash Flow	1.46	3.02	-87.98	-85.65	3.60	-0.46	0.61
Supplemental Disclosures
Interest Paid	-	7.60	6.34	1.90	0.64	0.45	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About United Maritime Cash Flow

What is United Maritime's free cash flow?

United Maritime generated free cash flow of $1.46M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $2.21M minus $757.00K of capital expenditures. That was down 51.7% from $3.02M a year earlier. Free cash flow equaled 3.9% of revenue.

How much does United Maritime spend on capital expenditures?

United Maritime spent $757.00K on capital expenditures in fiscal 2025, compared with $249.00K a year earlier. That equals 34.2% of operating cash flow.

Does United Maritime pay dividends or buy back shares?

Yes. In fiscal 2025 United Maritime returned $1.12M in dividends and $204.00K in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition