STAR BULK CARRIERS CORP (SBLK) Stock Fundamental Analysis
NASDAQ:SBLK - Nasdaq - MHY8162K2046 - Common Stock - Currency: USD
We assign a fundamental rating of 6 out of 10 to SBLK. SBLK was compared to 34 industry peers in the Marine Transportation industry. SBLK has an excellent profitability rating, but there are some minor concerns on its financial health. SBLK has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
SBLK had positive earnings in the past year.
SBLK had a positive operating cash flow in the past year.
In the past 5 years SBLK has always been profitable.
SBLK had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
SBLK has a better Return On Assets (5.73%) than 73.53% of its industry peers.
SBLK's Return On Equity of 9.39% is fine compared to the rest of the industry. SBLK outperforms 67.65% of its industry peers.
The Return On Invested Capital of SBLK (5.95%) is better than 61.76% of its industry peers.
The Average Return On Invested Capital over the past 3 years for SBLK is above the industry average of 7.64%.
The 3 year average ROIC (10.09%) for SBLK is well above the current ROIC(5.95%). The reason for the recent decline needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.73% | ||
| ROE | 9.39% | ||
| ROIC | 5.95% |
ROA(3y)9.89%
ROA(5y)9.62%
ROE(3y)16.92%
ROE(5y)16.82%
ROIC(3y)10.09%
ROIC(5y)9.77%
1.3 Margins
SBLK has a better Profit Margin (18.62%) than 67.65% of its industry peers.
SBLK's Profit Margin has declined in the last couple of years.
With a Operating Margin value of 22.09%, SBLK perfoms like the industry average, outperforming 55.88% of the companies in the same industry.
In the last couple of years the Operating Margin of SBLK has grown nicely.
With a Gross Margin value of 48.69%, SBLK perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
SBLK's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 22.09% | ||
| PM (TTM) | 18.62% | ||
| GM | 48.69% |
OM growth 3Y-18.56%
OM growth 5Y23.9%
PM growth 3Y-20.37%
PM growth 5YN/A
GM growth 3Y-7.71%
GM growth 5Y2.37%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SBLK is still creating some value.
SBLK has more shares outstanding than it did 1 year ago.
The number of shares outstanding for SBLK has been increased compared to 5 years ago.
SBLK has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.20, we must say that SBLK is in the distress zone and has some risk of bankruptcy.
SBLK has a Altman-Z score of 1.20. This is in the better half of the industry: SBLK outperforms 61.76% of its industry peers.
SBLK has a debt to FCF ratio of 3.40. This is a good value and a sign of high solvency as SBLK would need 3.40 years to pay back of all of its debts.
SBLK has a better Debt to FCF ratio (3.40) than 76.47% of its industry peers.
SBLK has a Debt/Equity ratio of 0.42. This is a healthy value indicating a solid balance between debt and equity.
With a decent Debt to Equity ratio value of 0.42, SBLK is doing good in the industry, outperforming 67.65% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.42 | ||
| Debt/FCF | 3.4 | ||
| Altman-Z | 1.2 |
ROIC/WACC0.64
WACC9.29%
2.3 Liquidity
A Current Ratio of 1.65 indicates that SBLK should not have too much problems paying its short term obligations.
SBLK has a Current ratio (1.65) which is comparable to the rest of the industry.
A Quick Ratio of 1.47 indicates that SBLK should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.47, SBLK perfoms like the industry average, outperforming 58.82% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.65 | ||
| Quick Ratio | 1.47 |
3. Growth
3.1 Past
SBLK shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -26.97%.
The Earnings Per Share has been growing by 59.69% on average over the past years. This is a very strong growth
Looking at the last year, SBLK shows a very strong growth in Revenue. The Revenue has grown by 25.60%.
The Revenue has been growing by 9.03% on average over the past years. This is quite good.
EPS 1Y (TTM)-26.97%
EPS 3Y-26.39%
EPS 5Y59.69%
EPS Q2Q%-108.05%
Revenue 1Y (TTM)25.6%
Revenue growth 3Y-3.93%
Revenue growth 5Y9.03%
Sales Q2Q%-32.79%
3.2 Future
The Earnings Per Share is expected to grow by 12.31% on average over the next years. This is quite good.
Based on estimates for the next years, SBLK will show a small growth in Revenue. The Revenue will grow by 2.62% on average per year.
EPS Next Y-35.53%
EPS Next 2Y5.21%
EPS Next 3Y12.31%
EPS Next 5YN/A
Revenue Next Year-1.52%
Revenue Next 2Y6.4%
Revenue Next 3Y2.62%
Revenue Next 5YN/A
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 10.25 indicates a reasonable valuation of SBLK.
SBLK's Price/Earnings ratio is in line with the industry average.
SBLK's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.45.
A Price/Forward Earnings ratio of 6.04 indicates a rather cheap valuation of SBLK.
SBLK's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. SBLK is cheaper than 64.71% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.90. SBLK is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.25 | ||
| Fwd PE | 6.04 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SBLK is on the same level as its industry peers.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of SBLK indicates a somewhat cheap valuation: SBLK is cheaper than 76.47% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 5.77 | ||
| EV/EBITDA | 6.2 |
4.3 Compensation for Growth
SBLK has a very decent profitability rating, which may justify a higher PE ratio.
SBLK's earnings are expected to grow with 12.31% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)0.17
EPS Next 2Y5.21%
EPS Next 3Y12.31%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 8.43%, SBLK is a good candidate for dividend investing.
SBLK's Dividend Yield is rather good when compared to the industry average which is at 7.93. SBLK pays more dividend than 88.24% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.42, SBLK pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 8.43% |
5.2 History
The dividend of SBLK is nicely growing with an annual growth rate of 121.96%!
SBLK has been paying a dividend for at least 10 years, so it has a reliable track record.
SBLK has decreased its dividend recently.
Dividend Growth(5Y)121.96%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
SBLK pays out 108.32% of its income as dividend. This is not a sustainable payout ratio.
The dividend of SBLK is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP108.32%
EPS Next 2Y5.21%
EPS Next 3Y12.31%
18.04
+0.09 (+0.47%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners33.68%
Inst Owner Change-4.59%
Ins Owners3.65%
Ins Owner ChangeN/A
Market Cap2.11B
Analysts83.08
Price Target21.85 (21.12%)
Short Float %3.01%
Short Ratio2.01
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 8.43% |
Yearly Dividend2.75
Dividend Growth(5Y)121.96%
DP108.32%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)26.97%
Min EPS beat(2)-21.1%
Max EPS beat(2)75.04%
EPS beat(4)1
Avg EPS beat(4)4.42%
Min EPS beat(4)-28.83%
Max EPS beat(4)75.04%
EPS beat(8)3
Avg EPS beat(8)2.02%
EPS beat(12)6
Avg EPS beat(12)4.2%
EPS beat(16)9
Avg EPS beat(16)4.9%
Revenue beat(2)1
Avg Revenue beat(2)0.86%
Min Revenue beat(2)-1.24%
Max Revenue beat(2)2.97%
Revenue beat(4)3
Avg Revenue beat(4)10.66%
Min Revenue beat(4)-1.24%
Max Revenue beat(4)23.76%
Revenue beat(8)6
Avg Revenue beat(8)10.85%
Revenue beat(12)9
Avg Revenue beat(12)13.44%
Revenue beat(16)13
Avg Revenue beat(16)13.4%
PT rev (1m)2.89%
PT rev (3m)0.62%
EPS NQ rev (1m)-50%
EPS NQ rev (3m)-70%
EPS NY rev (1m)-8.54%
EPS NY rev (3m)-13.72%
Revenue NQ rev (1m)-10.94%
Revenue NQ rev (3m)-9.15%
Revenue NY rev (1m)-0.86%
Revenue NY rev (3m)-1.61%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.25 | ||
| Fwd PE | 6.04 | ||
| P/S | 1.7 | ||
| P/FCF | 5.77 | ||
| P/OCF | 5.2 | ||
| P/B | 0.86 | ||
| P/tB | 0.86 | ||
| EV/EBITDA | 6.2 |
EPS(TTM)1.76
EY9.76%
EPS(NY)2.99
Fwd EY16.57%
FCF(TTM)3.13
FCFY17.33%
OCF(TTM)3.47
OCFY19.24%
SpS10.59
BVpS21
TBVpS21
PEG (NY)N/A
PEG (5Y)0.17
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.73% | ||
| ROE | 9.39% | ||
| ROCE | 7.53% | ||
| ROIC | 5.95% | ||
| ROICexc | 6.75% | ||
| ROICexgc | 6.75% | ||
| OM | 22.09% | ||
| PM (TTM) | 18.62% | ||
| GM | 48.69% | ||
| FCFM | 29.52% |
ROA(3y)9.89%
ROA(5y)9.62%
ROE(3y)16.92%
ROE(5y)16.82%
ROIC(3y)10.09%
ROIC(5y)9.77%
ROICexc(3y)11.17%
ROICexc(5y)10.95%
ROICexgc(3y)11.17%
ROICexgc(5y)10.95%
ROCE(3y)12.78%
ROCE(5y)12.37%
ROICexcg growth 3Y-23.71%
ROICexcg growth 5Y31.21%
ROICexc growth 3Y-23.71%
ROICexc growth 5Y31.21%
OM growth 3Y-18.56%
OM growth 5Y23.9%
PM growth 3Y-20.37%
PM growth 5YN/A
GM growth 3Y-7.71%
GM growth 5Y2.37%
F-Score6
Asset Turnover0.31
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.42 | ||
| Debt/FCF | 3.4 | ||
| Debt/EBITDA | 2.18 | ||
| Cap/Depr | 20.46% | ||
| Cap/Sales | 3.26% | ||
| Interest Coverage | 3.23 | ||
| Cash Conversion | 86.17% | ||
| Profit Quality | 158.53% | ||
| Current Ratio | 1.65 | ||
| Quick Ratio | 1.47 | ||
| Altman-Z | 1.2 |
F-Score6
WACC9.29%
ROIC/WACC0.64
Cap/Depr(3y)19.54%
Cap/Depr(5y)38.91%
Cap/Sales(3y)2.68%
Cap/Sales(5y)5.51%
Profit Quality(3y)150.38%
Profit Quality(5y)312.04%
High Growth Momentum
Growth
EPS 1Y (TTM)-26.97%
EPS 3Y-26.39%
EPS 5Y59.69%
EPS Q2Q%-108.05%
EPS Next Y-35.53%
EPS Next 2Y5.21%
EPS Next 3Y12.31%
EPS Next 5YN/A
Revenue 1Y (TTM)25.6%
Revenue growth 3Y-3.93%
Revenue growth 5Y9.03%
Sales Q2Q%-32.79%
Revenue Next Year-1.52%
Revenue Next 2Y6.4%
Revenue Next 3Y2.62%
Revenue Next 5YN/A
EBIT growth 1Y4.63%
EBIT growth 3Y-21.76%
EBIT growth 5Y35.09%
EBIT Next Year29.27%
EBIT Next 3Y21.17%
EBIT Next 5YN/A
FCF growth 1Y-39.11%
FCF growth 3Y-13.24%
FCF growth 5YN/A
OCF growth 1Y-35.02%
OCF growth 3Y-15%
OCF growth 5Y39.72%