SAFE BULKERS INC (SB) Stock Fundamental Analysis
NYSE:SB - New York Stock Exchange, Inc. - MHY7388L1039 - Common Stock - Currency: USD
We assign a fundamental rating of 4 out of 10 to SB. SB was compared to 32 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 is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
SB had positive earnings in the past year.
SB had positive earnings in 4 of the past 5 years.
In the past 5 years SB always reported a positive cash flow from operatings.
1.2 Ratios
With a Return On Assets value of 5.08%, SB perfoms like the industry average, outperforming 56.25% of the companies in the same industry.
SB has a Return On Equity (8.58%) which is in line with its industry peers.
The Return On Invested Capital of SB (5.65%) is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for SB is in line with the industry average of 8.13%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.08% | ||
| ROE | 8.58% | ||
| ROIC | 5.65% |
ROA(3y)8.23%
ROA(5y)7.47%
ROE(3y)13.56%
ROE(5y)11.82%
ROIC(3y)8.37%
ROIC(5y)8.01%
1.3 Margins
The Profit Margin of SB (24.57%) is better than 68.75% of its industry peers.
In the last couple of years the Profit Margin of SB has grown nicely.
Looking at the Operating Margin, with a value of 32.42%, SB is in the better half of the industry, outperforming 68.75% of the companies in the same industry.
SB's Operating Margin has improved in the last couple of years.
SB's Gross Margin of 62.37% is fine compared to the rest of the industry. SB outperforms 71.88% of its industry peers.
SB's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 32.42% | ||
| PM (TTM) | 24.57% | ||
| GM | 62.37% |
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%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), SB is destroying value.
Compared to 1 year ago, SB has less shares outstanding
Compared to 5 years ago, SB has more shares outstanding
SB has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.40, we must say that SB is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.40, SB is in the better half of the industry, outperforming 62.50% 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 50.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.4 |
ROIC/WACC0.67
WACC8.48%
2.3 Liquidity
A Current Ratio of 1.91 indicates that SB should not have too much problems paying its short term obligations.
SB has a Current ratio of 1.91. This is in the better half of the industry: SB outperforms 78.13% of its industry peers.
A Quick Ratio of 1.74 indicates that SB should not have too much problems paying its short term obligations.
SB has a better Quick ratio (1.74) than 78.13% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.91 | ||
| Quick Ratio | 1.74 |
3. Growth
3.1 Past
SB shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -20.90%.
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.
The Revenue has decreased by -2.98% in the past year.
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)-20.9%
EPS 3Y-18.15%
EPS 5Y62.51%
EPS Q2Q%-75%
Revenue 1Y (TTM)-2.98%
Revenue growth 3Y-2.22%
Revenue growth 5Y9.23%
Sales Q2Q%-26.37%
3.2 Future
The Earnings Per Share is expected to decrease by -1.55% on average over the next years.
Based on estimates for the next years, SB will show a decrease in Revenue. The Revenue will decrease by -2.15% on average per year.
EPS Next Y-24.26%
EPS Next 2Y11.11%
EPS Next 3Y-1.55%
EPS Next 5YN/A
Revenue Next Year-5.91%
Revenue Next 2Y2.95%
Revenue Next 3Y-2.15%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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.
4. Valuation
4.1 Price/Earnings Ratio
SB is valuated cheaply with a Price/Earnings ratio of 6.88.
62.50% of the companies in the same industry are more expensive than SB, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 25.91. SB is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 4.34, 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 71.88% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.85, SB is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.88 | ||
| Fwd PE | 4.34 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as SB.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 5.21 |
4.3 Compensation for Growth
The decent profitability rating of SB may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.11
EPS Next 2Y11.11%
EPS Next 3Y-1.55%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.35%, SB is a good candidate for dividend investing.
SB's Dividend Yield is a higher than the industry average which is at 9.24.
Compared to an average S&P500 Dividend Yield of 2.36, SB pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.35% |
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
5.3 Sustainability
DPN/A
EPS Next 2Y11.11%
EPS Next 3Y-1.55%
NYSE:SB (5/23/2025, 3:02:03 PM)
3.645
+0.02 (+0.41%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners28.12%
Inst Owner Change6.06%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap383.71M
Analysts88
Price Target5.2 (42.66%)
Short Float %3.04%
Short Ratio3.1
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.35% |
Yearly Dividend0.27
Dividend Growth(5Y)19.59%
DPN/A
Div Incr Years0
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)31.12%
Min EPS beat(2)0.44%
Max EPS beat(2)61.81%
EPS beat(4)2
Avg EPS beat(4)10.44%
Min EPS beat(4)-14.63%
Max EPS beat(4)61.81%
EPS beat(8)4
Avg EPS beat(8)9.71%
EPS beat(12)7
Avg EPS beat(12)8.81%
EPS beat(16)8
Avg EPS beat(16)7.62%
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)-6.71%
PT rev (3m)-6.71%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)-7.41%
EPS NY rev (3m)-5.66%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0.36%
Revenue NY rev (3m)-3.85%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.88 | ||
| Fwd PE | 4.34 | ||
| P/S | 1.32 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 0.46 | ||
| P/tB | 0.46 | ||
| EV/EBITDA | 5.21 |
EPS(TTM)0.53
EY14.54%
EPS(NY)0.84
Fwd EY23.03%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS2.76
BVpS7.9
TBVpS7.9
PEG (NY)N/A
PEG (5Y)0.11
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.08% | ||
| ROE | 8.58% | ||
| ROCE | 7.15% | ||
| ROIC | 5.65% | ||
| ROICexc | 6.24% | ||
| ROICexgc | 6.24% | ||
| OM | 32.42% | ||
| PM (TTM) | 24.57% | ||
| GM | 62.37% | ||
| 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 Turnover0.21
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 3.14 | ||
| 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 | 1.4 |
F-ScoreN/A
WACC8.48%
ROIC/WACC0.67
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)-20.9%
EPS 3Y-18.15%
EPS 5Y62.51%
EPS Q2Q%-75%
EPS Next Y-24.26%
EPS Next 2Y11.11%
EPS Next 3Y-1.55%
EPS Next 5YN/A
Revenue 1Y (TTM)-2.98%
Revenue growth 3Y-2.22%
Revenue growth 5Y9.23%
Sales Q2Q%-26.37%
Revenue Next Year-5.91%
Revenue Next 2Y2.95%
Revenue Next 3Y-2.15%
Revenue Next 5YN/A
EBIT growth 1Y-11.47%
EBIT growth 3Y-14.63%
EBIT growth 5Y20.46%
EBIT Next Year25.75%
EBIT Next 3Y10.06%
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%