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SAFE BULKERS INC (SB) Stock Fundamental Analysis

USA - NYSE:SB - MHY7388L1039 - Common Stock

4.28 USD
-0.02 (-0.47%)
Last: 10/21/2025, 8:04:00 PM
4.28 USD
0 (0%)
After Hours: 10/21/2025, 8:04:00 PM
Fundamental Rating

4

SB gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 35 industry peers in the Marine Transportation industry. SB has a medium profitability rating, but doesn't score so well on its financial health evaluation. SB has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

In the past year SB was profitable.
Of the past 5 years SB 4 years were profitable.
In the past 5 years SB always reported a positive cash flow from operatings.
SB Yearly Net Income VS EBIT VS OCF VS FCFSB Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M

1.2 Ratios

Looking at the Return On Assets, with a value of 3.24%, SB is in line with its industry, outperforming 57.14% of the companies in the same industry.
The Return On Equity of SB (5.46%) is comparable to the rest of the industry.
SB has a Return On Invested Capital (4.61%) which is in line with its industry peers.
SB had an Average Return On Invested Capital over the past 3 years of 8.37%. This is significantly below the industry average of 18.84%.
Industry RankSector Rank
ROA 3.24%
ROE 5.46%
ROIC 4.61%
ROA(3y)8.23%
ROA(5y)7.47%
ROE(3y)13.56%
ROE(5y)11.82%
ROIC(3y)8.37%
ROIC(5y)8.01%
SB Yearly ROA, ROE, ROICSB Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 -20

1.3 Margins

SB's Profit Margin of 16.37% is fine compared to the rest of the industry. SB outperforms 74.29% of its industry peers.
In the last couple of years the Profit Margin of SB has grown nicely.
SB's Operating Margin of 27.66% is fine compared to the rest of the industry. SB outperforms 74.29% of its industry peers.
In the last couple of years the Operating Margin of SB has grown nicely.
SB's Gross Margin of 59.74% is fine compared to the rest of the industry. SB outperforms 74.29% of its industry peers.
In the last couple of years the Gross Margin of SB has remained more or less at the same level.
Industry RankSector Rank
OM 27.66%
PM (TTM) 16.37%
GM 59.74%
OM growth 3Y-12.7%
OM growth 5Y10.28%
PM growth 3Y-16.39%
PM growth 5Y67.95%
GM growth 3Y-1.81%
GM growth 5Y1.34%
SB Yearly Profit, Operating, Gross MarginsSB Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50

3

2. Health

2.1 Basic Checks

SB has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
SB has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, SB has more shares outstanding
The debt/assets ratio for SB is higher compared to a year ago.
SB Yearly Shares OutstandingSB Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
SB Yearly Total Debt VS Total AssetsSB Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B

2.2 Solvency

SB has an Altman-Z score of 1.41. This is a bad value and indicates that SB is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.41, SB is in line with its industry, outperforming 57.14% of the companies in the same industry.
SB has a Debt/Equity ratio of 0.58. This is a neutral value indicating SB is somewhat dependend on debt financing.
SB has a Debt to Equity ratio of 0.58. This is comparable to the rest of the industry: SB outperforms 48.57% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF N/A
Altman-Z 1.41
ROIC/WACC0.52
WACC8.86%
SB Yearly LT Debt VS Equity VS FCFSB Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M

2.3 Liquidity

SB has a Current Ratio of 1.91. This is a normal value and indicates that SB is financially healthy and should not expect problems in meeting its short term obligations.
SB's Current ratio of 1.91 is fine compared to the rest of the industry. SB outperforms 68.57% of its industry peers.
A Quick Ratio of 1.74 indicates that SB should not have too much problems paying its short term obligations.
With a decent Quick ratio value of 1.74, SB is doing good in the industry, outperforming 68.57% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.91
Quick Ratio 1.74
SB Yearly Current Assets VS Current LiabilitesSB Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M

4

3. Growth

3.1 Past

SB shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -48.61%.
Measured over the past years, SB shows a very strong growth in Earnings Per Share. The EPS has been growing by 62.51% on average per year.
SB shows a decrease in Revenue. In the last year, the revenue decreased by -9.65%.
Measured over the past years, SB shows a quite strong growth in Revenue. The Revenue has been growing by 9.23% on average per year.
EPS 1Y (TTM)-48.61%
EPS 3Y-18.15%
EPS 5Y62.51%
EPS Q2Q%-94.12%
Revenue 1Y (TTM)-9.65%
Revenue growth 3Y-2.22%
Revenue growth 5Y9.23%
Sales Q2Q%-16.3%

3.2 Future

The Earnings Per Share is expected to grow by 7.27% on average over the next years.
Based on estimates for the next years, SB will show a small growth in Revenue. The Revenue will grow by 3.64% on average per year.
EPS Next Y-37.9%
EPS Next 2Y4.79%
EPS Next 3Y7.27%
EPS Next 5YN/A
Revenue Next Year-8.41%
Revenue Next 2Y1.74%
Revenue Next 3Y3.64%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
SB Yearly Revenue VS EstimatesSB Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M
SB Yearly EPS VS EstimatesSB Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5 -0.5 1

4

4. Valuation

4.1 Price/Earnings Ratio

SB is valuated reasonably with a Price/Earnings ratio of 11.57.
Compared to the rest of the industry, the Price/Earnings ratio of SB is on the same level as its industry peers.
Compared to an average S&P500 Price/Earnings ratio of 27.77, SB is valued rather cheaply.
With a Price/Forward Earnings ratio of 5.73, the valuation of SB can be described as very cheap.
Compared to the rest of the industry, the Price/Forward Earnings ratio of SB indicates a somewhat cheap valuation: SB is cheaper than 71.43% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of SB to the average of the S&P500 Index (23.23), we can say SB is valued rather cheaply.
Industry RankSector Rank
PE 11.57
Fwd PE 5.73
SB Price Earnings VS Forward Price EarningsSB Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

SB's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 6.31
SB Per share dataSB EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)0.19
EPS Next 2Y4.79%
EPS Next 3Y7.27%

6

5. Dividend

5.1 Amount

SB has a Yearly Dividend Yield of 4.64%, which is a nice return.
Compared to an average industry Dividend Yield of 7.27, SB pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.36, SB pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.64%

5.2 History

On average, the dividend of SB grows each year by 19.59%, which is quite nice.
SB has been paying a dividend for at least 10 years, so it has a reliable track record.
SB has decreased its dividend recently.
Dividend Growth(5Y)19.59%
Div Incr Years0
Div Non Decr Years1
SB Yearly Dividends per shareSB Yearly Dividends per shareYearly Dividends per share 2015 2022 2023 2024 2025 2 4 6 8 10

5.3 Sustainability

The dividend of SB is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DPN/A
EPS Next 2Y4.79%
EPS Next 3Y7.27%
SB Yearly Income VS Free CF VS DividendSB Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M 100M 150M

SAFE BULKERS INC

NYSE:SB (10/21/2025, 8:04:00 PM)

After market: 4.28 0 (0%)

4.28

-0.02 (-0.47%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)07-29 2025-07-29/amc
Earnings (Next)11-12 2025-11-12/amc
Inst Owners29.32%
Inst Owner Change-0.3%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap437.93M
Analysts88
Price Target4.95 (15.65%)
Short Float %3.27%
Short Ratio4.63
Dividend
Industry RankSector Rank
Dividend Yield 4.64%
Yearly Dividend0.27
Dividend Growth(5Y)19.59%
DPN/A
Div Incr Years0
Div Non Decr Years1
Ex-Date08-21 2025-08-21 (0.05)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-12.16%
Min EPS beat(2)-86.13%
Max EPS beat(2)61.81%
EPS beat(4)2
Avg EPS beat(4)-7.43%
Min EPS beat(4)-86.13%
Max EPS beat(4)61.81%
EPS beat(8)4
Avg EPS beat(8)-0.21%
EPS beat(12)6
Avg EPS beat(12)-0.61%
EPS beat(16)7
Avg EPS beat(16)-0.09%
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-10.19%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-30%
EPS NY rev (1m)0%
EPS NY rev (3m)-22.64%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-5.33%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.46%
Valuation
Industry RankSector Rank
PE 11.57
Fwd PE 5.73
P/S 1.58
P/FCF N/A
P/OCF N/A
P/B 0.53
P/tB 0.53
EV/EBITDA 6.31
EPS(TTM)0.37
EY8.64%
EPS(NY)0.75
Fwd EY17.45%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS2.71
BVpS8.13
TBVpS8.13
PEG (NY)N/A
PEG (5Y)0.19
Profitability
Industry RankSector Rank
ROA 3.24%
ROE 5.46%
ROCE 5.83%
ROIC 4.61%
ROICexc 5.09%
ROICexgc 5.09%
OM 27.66%
PM (TTM) 16.37%
GM 59.74%
FCFM N/A
ROA(3y)8.23%
ROA(5y)7.47%
ROE(3y)13.56%
ROE(5y)11.82%
ROIC(3y)8.37%
ROIC(5y)8.01%
ROICexc(3y)9.14%
ROICexc(5y)8.81%
ROICexgc(3y)9.14%
ROICexgc(5y)8.81%
ROCE(3y)10.6%
ROCE(5y)10.14%
ROICexcg growth 3Y-22.15%
ROICexcg growth 5Y14.43%
ROICexc growth 3Y-22.15%
ROICexc growth 5Y14.43%
OM growth 3Y-12.7%
OM growth 5Y10.28%
PM growth 3Y-16.39%
PM growth 5Y67.95%
GM growth 3Y-1.81%
GM growth 5Y1.34%
F-ScoreN/A
Asset Turnover0.2
Health
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF N/A
Debt/EBITDA 3.55
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.91
Quick Ratio 1.74
Altman-Z 1.41
F-ScoreN/A
WACC8.86%
ROIC/WACC0.52
Cap/Depr(3y)335.15%
Cap/Depr(5y)261.38%
Cap/Sales(3y)57.66%
Cap/Sales(5y)46.32%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-48.61%
EPS 3Y-18.15%
EPS 5Y62.51%
EPS Q2Q%-94.12%
EPS Next Y-37.9%
EPS Next 2Y4.79%
EPS Next 3Y7.27%
EPS Next 5YN/A
Revenue 1Y (TTM)-9.65%
Revenue growth 3Y-2.22%
Revenue growth 5Y9.23%
Sales Q2Q%-16.3%
Revenue Next Year-8.41%
Revenue Next 2Y1.74%
Revenue Next 3Y3.64%
Revenue Next 5YN/A
EBIT growth 1Y-31.84%
EBIT growth 3Y-14.63%
EBIT growth 5Y20.46%
EBIT Next Year14.82%
EBIT Next 3Y14.98%
EBIT Next 5YN/A
FCF growth 1Y83.52%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y6.75%
OCF growth 3Y-15.63%
OCF growth 5Y17.48%