STAR BULK CARRIERS CORP (SBLK) Stock Fundamental Analysis
NASDAQ:SBLK - Nasdaq - MHY8162K2046 - Common Stock - Currency: USD
Taking everything into account, SBLK scores 6 out of 10 in our fundamental rating. SBLK was compared to 36 industry peers in the Marine Transportation industry. SBLK has only an average score on both its financial health and profitability. SBLK is not valued too expensively and it also shows a decent 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.
SBLK had positive earnings in each of the past 5 years.
Each year in the past 5 years SBLK had a positive operating cash flow.
1.2 Ratios
SBLK has a Return On Assets of 5.73%. This is in the better half of the industry: SBLK outperforms 72.22% of its industry peers.
SBLK's Return On Equity of 9.39% is fine compared to the rest of the industry. SBLK outperforms 63.89% of its industry peers.
The Return On Invested Capital of SBLK (5.95%) is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for SBLK is in line with the industry average of 9.67%.
The last Return On Invested Capital (5.95%) for SBLK is well below the 3 year average (10.09%), which needs to be investigated, but indicates that SBLK had better years and this may not be a problem.
| 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 66.67% of its industry peers.
In the last couple of years the Profit Margin of SBLK has declined.
With a Operating Margin value of 22.09%, SBLK perfoms like the industry average, outperforming 55.56% of the companies in the same industry.
SBLK's Operating Margin has improved in the last couple of years.
SBLK has a Gross Margin of 48.69%. This is comparable to the rest of the industry: SBLK outperforms 52.78% of its industry peers.
In the last couple of years the Gross Margin of SBLK has grown nicely.
| 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
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SBLK is creating some value.
Compared to 1 year ago, SBLK has more shares outstanding
Compared to 5 years ago, SBLK has more shares outstanding
SBLK has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.22, we must say that SBLK is in the distress zone and has some risk of bankruptcy.
SBLK has a Altman-Z score (1.22) which is in line with its industry peers.
The Debt to FCF ratio of SBLK is 3.40, which is a good value as it means it would take SBLK, 3.40 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 3.40, SBLK is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
A Debt/Equity ratio of 0.42 indicates that SBLK is not too dependend on debt financing.
SBLK's Debt to Equity ratio of 0.42 is fine compared to the rest of the industry. SBLK outperforms 66.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.42 | ||
| Debt/FCF | 3.4 | ||
| Altman-Z | 1.22 |
ROIC/WACC0.69
WACC8.6%
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.
SBLK has a Quick ratio (1.47) which is comparable to the rest of the 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%.
SBLK shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 59.69% yearly.
SBLK shows a strong growth in Revenue. In the last year, the Revenue has grown by 25.60%.
Measured over the past years, SBLK shows a quite strong growth in Revenue. The Revenue has been growing by 9.03% on average per year.
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
Based on estimates for the next years, SBLK will show a quite strong growth in Earnings Per Share. The EPS will grow by 12.31% on average per year.
SBLK is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.62% yearly.
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.
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
SBLK is valuated reasonably with a Price/Earnings ratio of 10.38.
Compared to the rest of the industry, the Price/Earnings ratio of SBLK indicates a somewhat cheap valuation: SBLK is cheaper than 61.11% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.25. SBLK is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 6.11, which indicates a rather cheap valuation of SBLK.
Compared to the rest of the industry, the Price/Forward Earnings ratio of SBLK indicates a somewhat cheap valuation: SBLK is cheaper than 63.89% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.80, SBLK is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.38 | ||
| Fwd PE | 6.11 |
4.2 Price Multiples
SBLK's Enterprise Value to EBITDA is on the same level as the industry average.
Based on the Price/Free Cash Flow ratio, SBLK is valued a bit cheaper than 75.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 5.84 | ||
| EV/EBITDA | 6.27 |
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
SBLK has a Yearly Dividend Yield of 7.57%, which is a nice return.
Compared to an average industry Dividend Yield of 7.03, SBLK pays a better dividend. On top of this SBLK pays more dividend than 88.89% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.34, SBLK pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.57% |
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.
The dividend of SBLK decreased recently.
Dividend Growth(5Y)121.96%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
108.32% of the earnings are spent on dividend by SBLK. 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%
18.26
-0.09 (-0.49%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners33.68%
Inst Owner Change8.01%
Ins Owners3.65%
Ins Owner ChangeN/A
Market Cap2.13B
Analysts83.08
Price Target21.13 (15.72%)
Short Float %3.54%
Short Ratio2.04
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.57% |
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)28.14%
Min EPS beat(2)-21.1%
Max EPS beat(2)77.38%
EPS beat(4)1
Avg EPS beat(4)5.01%
Min EPS beat(4)-28.83%
Max EPS beat(4)77.38%
EPS beat(8)3
Avg EPS beat(8)2.32%
EPS beat(12)6
Avg EPS beat(12)4.4%
EPS beat(16)9
Avg EPS beat(16)5.05%
Revenue beat(2)1
Avg Revenue beat(2)0.2%
Min Revenue beat(2)-2.57%
Max Revenue beat(2)2.97%
Revenue beat(4)3
Avg Revenue beat(4)10.33%
Min Revenue beat(4)-2.57%
Max Revenue beat(4)23.76%
Revenue beat(8)6
Avg Revenue beat(8)10.68%
Revenue beat(12)9
Avg Revenue beat(12)13.33%
Revenue beat(16)13
Avg Revenue beat(16)13.32%
PT rev (1m)-3.25%
PT rev (3m)-2.66%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-70%
EPS NY rev (1m)0%
EPS NY rev (3m)-13.72%
Revenue NQ rev (1m)-6.27%
Revenue NQ rev (3m)-14.84%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.61%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.38 | ||
| Fwd PE | 6.11 | ||
| P/S | 1.72 | ||
| P/FCF | 5.84 | ||
| P/OCF | 5.26 | ||
| P/B | 0.87 | ||
| P/tB | 0.87 | ||
| EV/EBITDA | 6.27 |
EPS(TTM)1.76
EY9.64%
EPS(NY)2.99
Fwd EY16.37%
FCF(TTM)3.13
FCFY17.12%
OCF(TTM)3.47
OCFY19.01%
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 | 1.22 |
F-Score6
WACC8.6%
ROIC/WACC0.69
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%