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SAFE BULKERS INC (SB) Stock Fundamental Analysis

USA - NYSE:SB - MHY7388L1039 - Common Stock

4.31 USD
0 (0%)
Last: 10/17/2025, 8:04:00 PM
4.31 USD
0 (0%)
After Hours: 10/17/2025, 8:04:00 PM
Fundamental Rating

4

Overall SB gets a fundamental rating of 4 out of 10. We evaluated SB against 35 industry peers in the Marine Transportation industry. While SB is still in line with the averages on profitability rating, there are concerns on its financial health. SB has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

SB had positive earnings in the past year.
Of the past 5 years SB 4 years were profitable.
SB had a positive operating cash flow in each of the past 5 years.
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

With a Return On Assets value of 3.24%, SB perfoms like the industry average, outperforming 57.14% of the companies in the same industry.
SB has a Return On Equity of 5.46%. This is comparable to the rest of the industry: SB outperforms 60.00% of its industry peers.
With a Return On Invested Capital value of 4.61%, SB perfoms like the industry average, outperforming 54.29% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for SB is significantly below the industry average of 18.85%.
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.
SB's Operating Margin has improved in the last couple of years.
The Gross Margin of SB (59.74%) is better than 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.
The number of shares outstanding for SB has been increased compared to 5 years ago.
SB has a worse debt/assets ratio than last year.
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

Based on the Altman-Z score of 1.42, we must say that SB is in the distress zone and has some risk of bankruptcy.
SB has a Altman-Z score (1.42) which is comparable to the rest of the 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 (0.58) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF N/A
Altman-Z 1.42
ROIC/WACC0.52
WACC8.84%
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.
Looking at the Current ratio, with a value of 1.91, SB is in the better half of the industry, outperforming 68.57% of the companies in the same industry.
SB has a Quick Ratio of 1.74. 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 Quick ratio of 1.74 is fine compared to the rest of the industry. SB outperforms 68.57% of its industry peers.
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

The earnings per share for SB have decreased strongly by -48.61% in the last year.
The Earnings Per Share has been growing by 62.51% on average over the past years. This is a very strong growth
Looking at the last year, SB shows a decrease in Revenue. The Revenue has decreased by -9.65% in the last year.
SB shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.23% yearly.
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

Based on estimates for the next years, SB will show a small growth in Earnings Per Share. The EPS will grow by 7.27% on average per year.
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

A Price/Earnings ratio of 11.65 indicates a reasonable valuation of SB.
The rest of the industry has a similar Price/Earnings ratio as SB.
The average S&P500 Price/Earnings ratio is at 27.40. SB is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 5.77, the valuation of SB can be described as very cheap.
71.43% of the companies in the same industry are more expensive than SB, based on the Price/Forward Earnings ratio.
SB is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.94, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 11.65
Fwd PE 5.77
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

The rest of the industry has a similar Enterprise Value to EBITDA ratio as SB.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 6.32
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

With a Yearly Dividend Yield of 4.64%, SB is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 7.07, SB pays a bit more dividend than its industry peers.
SB's Dividend Yield is rather good when compared to the S&P500 average which is at 2.36.
Industry RankSector Rank
Dividend Yield 4.64%

5.2 History

The dividend of SB is nicely growing with an annual growth rate of 19.59%!
SB has been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of SB decreased 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

SB's earnings are growing slower than its dividend. 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 (10/17/2025, 8:04:00 PM)

After market: 4.31 0 (0%)

4.31

0 (0%)

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 Cap441.00M
Analysts88
Price Target4.95 (14.85%)
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 11.65
Fwd PE 5.77
P/S 1.59
P/FCF N/A
P/OCF N/A
P/B 0.53
P/tB 0.53
EV/EBITDA 6.32
EPS(TTM)0.37
EY8.58%
EPS(NY)0.75
Fwd EY17.33%
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 1.42
F-ScoreN/A
WACC8.84%
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%