PNSC Pakistan National Shipping Corporation

Pakistan National Shipping Corporation (PNSC) financial ratios

Pakistan National Shipping Corporation earned a net margin of 36.2% in FY2026 against a five-year average of 41.9% (Transport median 25.0%). Return on equity was 19.8%, compared with a sector median of 13.9%. The current ratio stood at 2.88× and debt was 38.2% of equity. Cash took about 71 days to cycle through receivables, inventory and payables.

FY2026 vs the Transport median

Gross margin: 36.0%; Sector median 36.0%
Operating margin: 34.4%; Sector median 29.4%
Net margin: 36.2%; Sector median 25.0%
Return on equity (ROE): 19.8%; Sector median 13.9%
Return on assets (ROA): 14.5%; Sector median 11.2%
Current ratio: 2.88×; Sector median 1.70×
Debt to equity: 38.2%; Sector median 15.3%
Asset turnover: 0.40×; Sector median 0.40×
Dividend payout ratio: 35.8%; Sector median 0.0%

Median of the 6 companies in the sector with the figure for their latest fiscal year.

PNSC financial ratios (annual) (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 * Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 * Jul 2009 – Jun 2010	FY2009 * Jul 2008 – Jun 2009	FY2008 * Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007
Profitability
Gross margin	36.0%	29.8%	40.6%	49.4%	28.9%	22.5%	33.1%	24.9%	20.8%	28.2%	28.3%	20.4%	21.5%	26.9%	23.6%	22.6%	18.7%	26.7%	32.4%	28.5%
EBITDA margin	43.5%	66.6%	59.2%	66.6%	33.6%	39.6%	39.7%	38.9%	26.4%	32.1%	29.5%	22.7%	22.4%	29.5%	29.0%	21.5%	20.4%	40.8%	36.4%	46.1%
Operating margin	34.4%	55.5%	51.3%	61.0%	24.6%	23.1%	26.8%	26.7%	11.9%	21.0%	19.7%	15.8%	15.5%	21.0%	16.5%	10.6%	7.7%	25.1%	29.2%	32.2%
Pre-tax margin	37.5%	58.5%	46.8%	57.8%	22.7%	19.1%	18.7%	22.6%	18.4%	24.9%	20.1%	14.2%	15.3%	19.9%	8.2%	21.8%	18.4%	26.1%	32.4%	31.3%
Net margin	36.2%	54.3%	43.5%	54.9%	20.4%	17.7%	17.5%	20.2%	16.3%	19.8%	18.5%	13.6%	13.7%	16.3%	8.5%	17.6%	6.2%	14.2%	13.9%	25.7%
Effective tax rate	3.5%	7.1%	7.0%	5.0%	10.3%	7.3%	6.5%	10.6%	11.5%	20.1%	7.6%	4.4%	10.5%	18.5%	(3.9%)	19.4%	66.1%	45.5%	57.0%	17.9%
Returns
Return on equity (ROE)	19.8%	21.3%	25.3%	52.9%	14.2%	6.3%	7.2%	6.9%	5.5%	9.0%	9.2%	9.1%	10.0%	10.2%	4.1%	9.4%	3.0%	11.3%	12.8%	26.2%
Return on assets (ROA)	14.5%	19.1%	21.7%	43.0%	11.3%	4.9%	5.3%	5.3%	4.4%	6.7%	6.4%	6.2%	6.8%	6.7%	2.6%	6.8%	2.6%	8.0%	7.7%	15.6%
Return on invested capital (ROIC)	18.0%	21.2%	24.9%	50.0%	13.5%	6.5%	8.3%	6.8%	5.5%	8.5%	8.8%	9.8%	10.2%	10.4%	7.5%	9.8%	3.0%	11.2%	12.4%	24.5%
Liquidity
Current ratio	2.88×	9.65×	6.91×	4.07×	3.38×	3.71×	3.16×	2.68×	3.17×	2.74×	2.38×	2.15×	2.17×	1.99×	1.73×	1.59×	2.96×	5.44×	4.49×	5.52×
Quick ratio	—	—	6.60×	3.84×	3.12×	3.30×	2.84×	2.43×	3.00×	2.58×	2.23×	2.00×	2.01×	1.77×	1.55×	1.39×	2.53×	5.16×	4.22×	5.20×
Leverage
Debt to equity	38.2%	1.9%	3.2%	10.3%	10.9%	16.5%	21.5%	27.9%	9.4%	14.5%	20.3%	30.7%	26.2%	35.2%	37.4%	44.4%	0.0%	0.0%	1.9%	4.6%
Debt to capital	27.6%	1.9%	3.1%	9.4%	9.8%	14.2%	17.7%	21.8%	8.6%	12.6%	16.8%	23.5%	20.8%	26.0%	27.2%	30.7%	0.0%	0.0%	1.9%	4.4%
Debt to assets	23.9%	1.7%	2.8%	8.5%	8.6%	13.2%	16.3%	20.2%	7.9%	11.0%	14.6%	20.5%	18.2%	23.2%	24.3%	27.9%	0.0%	0.0%	1.1%	2.9%
Assets to equity	1.36×	1.11×	1.17×	1.23×	1.26×	1.29×	1.35×	1.29×	1.25×	1.35×	1.44×	1.47×	1.48×	1.53×	1.57×	1.39×	1.16×	1.42×	1.67×	1.68×
Efficiency
Asset turnover	0.40×	0.35×	0.50×	0.78×	0.55×	0.28×	0.30×	0.26×	0.27×	0.34×	0.34×	0.45×	0.50×	0.41×	0.31×	0.38×	0.42×	0.56×	0.55×	0.61×
Receivable days days	102	89	69	54	88	159	134	155	158	108	100	84	64	43	39	33	44	33	29	26
Inventory days days	—	—	34	28	32	55	48	39	30	26	25	19	20	25	27	28	29	20	24	28
Payable days days	30	61	85	74	71	91	64	30	29	27	25	22	25	22	21	18	20	15	15	24
Cash conversion cycle days	71	29	18	8	49	123	118	164	159	107	100	81	59	45	45	43	53	38	38	30
Dividends
Dividend payout ratio	35.8%	32.0%	16.4%	4.4%	7.0%	13.1%	10.9%	12.0%	12.1%	10.7%	11.4%	9.4%	9.2%	6.6%	17.5%	12.1%	80.6%	24.3%	13.2%	8.5%
Earnings retention rate	0.64×	0.68×	0.84×	0.96×	0.93×	0.87×	0.89×	0.88×	0.88×	0.89×	0.89×	0.91×	0.91×	0.93×	0.82×	0.88×	0.19×	0.76×	0.87×	0.92×

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

PNSC: frequently asked questions

What is PNSC's EPS?

Pakistan National Shipping Corporation reported basic earnings per share of Rs 108.77 for FY2026 (Jul 2025 – Jun 2026).

What is PNSC's P/E ratio?

At the closing price of Rs 551.55 on 16 Oct 2026, PNSC trades at a P/E of 5.1× based on EPS of Rs 108.77 (FY2026).

Does PNSC pay dividends?

Yes. Pakistan National Shipping Corporation declared a dividend of Rs 20.00 per share for FY2026. It has paid a dividend in each of the last 20 years. At Rs 551.55 that is a dividend yield of 3.6%.

What was PNSC's revenue and profit in FY2026?

Pakistan National Shipping Corporation reported revenue of Rs 59.5 bn and profit attributable to shareholders of Rs 21.5 bn for FY2026 (Jul 2025 – Jun 2026).

What is PNSC's book value per share?

Pakistan National Shipping Corporation's book value per share was Rs 577.86 at the end of FY2026. The shares trade at 0.95× book value.

Information only, not investment advice.