Saturday 17 October 2026
Export SB’s income statement to Excel — free account
Safe Bulkers, Inc
SB Industrials Marine Shipping
Safe Bulkers, Inc’s revenue for fiscal 2025 (year ended December 2025) was $275.7 million, down 10.4% from fiscal 2024. In the quarter to June 2026, revenue grew 33.0%, EPS was flat, free cash flow fell 35.3% and total debt fell 7.44%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
7.85
0.17
−2.12%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 11.13 | 34.00 | 0.00 | 2.69 | 2.09 | 6.37 | 4.30 | 16.07 |
Piotroski F-Score |
4 | 4 | 6 | 4 | 3 | 8 | 4 | 5 | 8 | 5 |
P/S ratio |
0.92 | 2.24 | 0.94 | 0.87 | 0.67 | 1.30 | 0.99 | 1.58 | 1.25 | 1.80 |
Altman Z-Score |
0.42 | 0.44 | 0.73 | 0.67 | 0.48 | 1.86 | 1.72 | 1.50 | 1.50 | 1.51 |
Altman Z″-Score (non-manufacturers) |
1.87 | 0.94 | 1.77 | 1.67 | 1.21 | 3.86 | 4.08 | 3.56 | 3.69 | 3.68 |
P/FCF ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.10 | 6.83 | 0.00 | 0.00 | 0.00 |
Beneish M-Score |
(2.90) | (3.13) | (2.69) | (1.51) | (3.34) | (1.04) | (3.13) | (2.15) | (2.25) | (2.81) |
P/Operating CF |
7.46 | 6.63 | 6.79 | 9.40 | 2.10 | 6.78 | 6.15 | 11.51 | 13.04 | 14.96 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 43 |
P/B ratio |
0.17 | 0.73 | 0.39 | 0.37 | 0.30 | 0.63 | 0.45 | 0.57 | 0.46 | 0.60 |
Price to Tangible BV |
0.17 | 0.73 | 0.39 | 0.37 | 0.30 | 0.63 | 0.45 | 0.57 | 0.46 | 0.60 |
EV/Sales |
5.35 | 5.67 | 3.49 | 3.38 | 3.21 | 2.07 | 1.84 | 3.05 | 2.58 | 3.20 |
EV/EBITDA |
0.00 | 0.00 | 12.05 | 15.15 | 60.68 | 3.41 | 3.49 | 8.32 | 6.17 | 12.63 |
EV/Operating CF |
5.01 | 6.32 | 4.52 | 4.64 | 6.26 | 2.67 | 2.96 | 7.09 | 6.07 | 8.64 |
EV/FCF |
(2.83) | (4.08) | (7.55) | (65.16) | (9.44) | 3.34 | 12.77 | (3.86) | (2.95) | (4.58) |
Quick Ratio |
4.36 | 1.93 | 1.72 | 1.41 | 1.05 | 1.24 | 1.32 | 1.77 | 1.65 | 2.45 |
Current Ratio |
4.67 | 2.14 | 1.85 | 1.57 | 1.29 | 1.40 | 1.73 | 2.63 | 1.91 | 2.90 |
Net Debt/EBITDA |
23.05 | (32.90) | 4.66 | 5.14 | 7.56 | 1.03 | 1.27 | 2.60 | 2.15 | 2.88 |
Debt/Assets |
49.58% | 54.82% | 53.40% | 53.92% | 54.96% | 32.50% | 33.26% | 37.85% | 38.25% | 38.49% |
Debt/Equity |
1.01 | 1.24 | 1.23 | 1.27 | 1.37 | 0.52 | 0.54 | 0.64 | 0.65 | 0.65 |
Asset Turnover |
0.09 | 0.13 | 0.18 | 0.18 | 0.18 | 0.30 | 0.30 | 0.22 | 0.22 | 0.20 |
Operating CF/Net income |
(0.19) | (0.51) | 5.24 | 13.43 | (2.50) | 1.33 | 1.33 | 1.76 | 1.46 | 3.35 |
Capex/Depreciation |
(0.56) | (0.73) | (0.92) | (0.75) | (0.90) | (0.04) | (3.23) | (3.15) | (1.09) | (0.30) |
Interest Coverage |
(1.60) | (2.98) | 2.17 | 1.64 | 0.49 | 13.00 | 10.77 | 4.22 | 4.09 | 2.31 |
| (11.54%) | (19.16%) | 3.54% | 0.93% | (5.52%) | 29.11% | 22.55% | 8.87% | 11.01% | 3.68% | |
| (5.64%) | (8.98%) | 1.54% | 0.40% | (2.28%) | 14.87% | 13.98% | 5.36% | 6.52% | 2.18% | |
ROIC |
(1.84%) | (4.49%) | 3.64% | 2.85% | 0.69% | 12.82% | 10.77% | 5.38% | 6.47% | 3.61% |
Return on Tangible Assets |
(6.22%) | (10.06%) | 1.61% | 0.44% | (2.60%) | 18.18% | 14.30% | 5.45% | 6.83% | 2.31% |
Average Days of Receivables |
29.38 | 27.19 | 22.18 | 29.38 | 9.08 | 8.97 | 6.78 | 11.29 | 16.82 | 14.79 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
14.01% | 10.89% | 9.96% | 10.44% | 10.85% | 6.84% | 6.23% | 8.36% | 8.79% | 10.83% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.11% | 0.08% | 0.06% | 0.06% | 0.06% | 0.04% | 0.03% | 0.05% | 0.05% | 0.05% |
Graham Net Nets |
(4.81) | (1.50) | (2.81) | (2.93) | (3.94) | (0.68) | (0.92) | (0.89) | (1.06) | (0.75) |
Graham Number |
0.00 | 0.00 | 4.06 | 2.29 | 0.00 | 13.72 | 14.04 | 9.86 | 12.02 | 7.38 |
Earnings Yield |
(69.75%) | (29.79%) | 8.99% | 2.94% | (18.46%) | 37.14% | 47.90% | 15.70% | 23.25% | 6.22% |
Free Cash Flow Yield |
(206.55%) | (61.98%) | (49.35%) | (5.93%) | (50.50%) | 47.67% | 14.64% | (50.05%) | (69.98%) | (38.81%) |
Revenue per Share |
1.30 | 1.47 | 1.90 | 1.94 | 1.93 | 2.89 | 2.90 | 2.50 | 2.86 | 2.68 |
Operating CF per Share |
0.16 | 0.50 | 0.84 | 0.57 | 0.62 | 1.91 | 1.81 | 1.08 | 1.21 | 0.99 |
Capex per Share |
(0.35) | (0.39) | (0.45) | (0.39) | (0.49) | (0.02) | (1.38) | (1.57) | (0.62) | (0.18) |
Free Cash Flow per Share |
(0.19) | 0.11 | 0.39 | 0.19 | 0.13 | 1.89 | 0.43 | (0.49) | 0.59 | 0.81 |
Cash per Share |
1.12 | 0.60 | 0.81 | 1.05 | 1.03 | 0.90 | 0.95 | 0.79 | 1.19 | 1.53 |
Shareholders Equity per Share |
6.84 | 4.52 | 4.58 | 4.65 | 4.33 | 5.97 | 6.40 | 6.98 | 7.73 | 8.06 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
6.84 | 4.52 | 4.58 | 4.65 | 4.33 | 5.97 | 6.40 | 6.98 | 7.73 | 8.06 |
Free Cash Flow |
(15.89) | 10.67 | 39.52 | 19.04 | 12.93 | 215.06 | 51.70 | (56.12) | 63.68 | 83.69 |
Working Capital |
87.23 | 42.15 | 46.66 | 49.21 | 30.02 | 35.42 | 66.38 | 90.99 | 78.92 | 131.54 |
Capital Expenditures |
(29.37) | (39.43) | (45.93) | (39.24) | (50.44) | (2.15) | (166.35) | (178.33) | (66.78) | (18.60) |
Net Current Asset Value |
(484.21) | (499.66) | (509.10) | (505.91) | (526.15) | (290.96) | (316.30) | (400.58) | (406.09) | (371.87) |
EV/EBIT |
0.00 | 0.00 | 12.05 | 15.15 | 60.68 | 4.71 | 3.49 | 8.32 | 6.17 | 12.63 |
Capex to Sales |
0.27 | 0.27 | 0.24 | 0.20 | 0.25 | 0.01 | 0.48 | 0.63 | 0.22 | 0.07 |
Price to Operating Income |
0.00 | 0.00 | 3.24 | 3.92 | 12.73 | 2.96 | 1.87 | 4.31 | 2.99 | 7.10 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.05 | 0.06 | 0.05 | 0.06 | 0.06 | 0.06 | 0.05 | 0.05 | 0.05 | 0.05 |
Cash ROIC |
(1.27%) | 0.98% | 3.52% | 1.61% | 1.12% | 18.91% | 3.97% | (4.04%) | 4.25% | 5.47% |
Accounts Receivable Turnover |
13.45 | 14.91 | 16.97 | 14.30 | 19.01 | 50.57 | 47.98 | 37.18 | 26.78 | 21.76 |
Accounts Payable Turnover |
10.72 | 11.91 | 13.62 | 8.61 | 8.44 | 6.96 | 8.76 | 10.57 | 10.73 | 10.01 |
Inventory Turnover |
11.06 | 12.07 | 16.71 | 12.28 | 10.48 | 7.91 | 6.94 | 6.53 | 6.93 | 6.89 |
Average Days of Payables |
34.41 | 26.62 | 32.01 | 57.55 | 44.06 | 44.78 | 42.68 | 34.38 | 33.17 | 41.87 |
Days of Inventory on Hand |
33.02 | 27.20 | 21.62 | 41.10 | 39.34 | 38.61 | 70.11 | 54.82 | 49.69 | 59.39 |
Average Receivables |
8.16 | 9.93 | 11.38 | 13.83 | 10.42 | 6.51 | 7.29 | 7.65 | 11.49 | 12.67 |
Average Payables |
5.33 | 4.76 | 5.13 | 9.55 | 13.23 | 11.76 | 10.29 | 10.49 | 10.19 | 11.67 |
Average Inventory |
5.17 | 4.70 | 4.18 | 6.70 | 10.65 | 10.34 | 12.99 | 16.99 | 15.77 | 16.94 |
Average Assets |
1,241.69 | 1,104.43 | 1,055.65 | 1,095.42 | 1,110.14 | 1,099.97 | 1,170.12 | 1,292.87 | 1,371.46 | 1,403.14 |
Average Common Equity |
606.27 | 517.38 | 461.03 | 469.23 | 458.69 | 561.94 | 725.53 | 782.17 | 812.02 | 831.12 |
Columns are period end dates