SAFE BULKERS, INC. SB
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS0.30
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| SG&A | $29.9M | $27.0M | $23.8M | $21.8M | $22.5M | $21.5M | $20.6M | $19.2M | $16.1M | $15.4M |
| Operating income | $70.0M | $128.4M | $104.1M | $184.6M | $191.4M | $10.5M | $44.1M | $55.9M | -$69.3M | -$31.4M |
| Interest expense | $30.3M | $31.4M | $24.7M | $17.1M | $14.7M | $21.2M | $26.8M | $25.7M | $23.2M | $19.6M |
| Net income | $38.6M | $97.4M | $77.4M | $172.6M | $174.3M | -$12.9M | $16.0M | $27.7M | -$84.7M | -$56.0M |
| EPS, basic | 0.30 | 0.83 | 0.61 | 1.36 | 1.44 | -0.25 | 0.04 | — | — | — |
| EPS, diluted | 0.30 | 0.83 | 0.61 | 1.36 | 1.44 | -0.25 | 0.04 | 0.16 | -0.98 | -0.83 |
| Shares, diluted (wtd. avg.) | $103.0M | $107.6M | $113.6M | $120.7M | $113.7M | $102.6M | $101.7M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $141.6M | $81.1M | $48.2M | $59.1M | $111.3M | $112.2M | $92.6M | $62.6M | $56.5M | $92.8M |
| Short-term investments | $4.8M | $0 | — | — | — | — | — | — | — | — |
| Inventory | $19.0M | $14.9M | $16.7M | $17.3M | $8.7M | $12.0M | $9.3M | $4.1M | $4.2M | $5.2M |
| Total current assets | $200.6M | $165.4M | $146.7M | $157.7M | $124.1M | $134.7M | $136.0M | $101.3M | $79.1M | $111.0M |
| Property, plant and equipment | $1.11B | $1.14B | $1.09B | $1.00B | $864.4M | $942.2M | $944.7M | $955.3M | $942.9M | $1.04B |
| Total assets | $1.40B | $1.40B | $1.34B | $1.25B | $1.09B | $1.11B | $1.11B | $1.08B | $1.04B | $1.17B |
| Short-term debt | $44.8M | $60.8M | $27.2M | $45.7M | $41.2M | $77.3M | $65.5M | $37.4M | $26.6M | $13.3M |
| Total current liabilities | $69.1M | $86.5M | $55.7M | $91.3M | $88.7M | $104.7M | $86.8M | $54.6M | $36.9M | $23.8M |
| Long-term debt | $503.7M | $484.8M | $488.8M | $376.9M | $319.1M | $534.9M | $540.3M | $542.1M | $545.2M | $574.4M |
| Total liabilities | $572.5M | $571.5M | $547.3M | $474.0M | $415.1M | $642.8M | $624.7M | $593.4M | $578.7M | $595.2M |
| Retained earnings | $517.3M | $507.3M | $439.5M | $392.8M | $253.9M | $90.3M | $115.6M | $111.3M | $95.1M | $194.2M |
| Total equity | $830.7M | $831.6M | $792.5M | $771.9M | $679.2M | $444.7M | $472.7M | $465.8M | $456.3M | $578.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $102.3M | $130.5M | $122.2M | $218.0M | $217.2M | $63.4M | $58.3M | $85.4M | $50.1M | $13.5M |
| Depreciation and amortisation | $59.9M | $58.1M | $54.1M | $48.2M | $52.1M | $54.3M | $50.3M | $48.1M | $51.4M | $49.5M |
| Stock-based compensation | $150.0K | $150.0K | $144.0K | $120.0K | $120.0K | $120.0K | $120.0K | $120.0K | $120.0K | $120.0K |
| Investing cash flow | $9.7M | -$71.7M | -$151.7M | -$229.4M | $8.6M | -$34.8M | -$36.8M | -$63.7M | -$39.6M | -$39.9M |
| Financing cash flow | -$52.4M | -$25.9M | $29.1M | -$40.1M | -$225.9M | -$9.3M | $8.5M | -$15.6M | -$47.1M | -$83.9M |
| Buybacks | $11.0M | $28.9M | $26.2M | $9.1M | $0 | $6.0M | $4.2M | $617.0K | $0 | $120.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-014408.
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