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Safe Bulkers, Inc., together with its subsidiaries, provides marine drybulk transportation services internationally. The company owns and operates a fleet of dry bulk vessels for transporting bulk cargoes comprising coal, grain, and iron ore. Its fleet consists of 45 vessels, including 8 Panamax class vessels, 12 Kamsarmax class vessels, 17 post-Panamax class vessels, and 8 Capesize class vessels with an aggregate carrying capacity of 4,559,000 deadweight tons. Safe Bulkers, Inc. was incorporated in 2007 and is based in Monaco.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $276M | $129M | $39M | $60M | 4.6% | -10.4% | -60.4% |
| 2024 | $308M | $187M | $97M | $-14M | 11.7% | 8.2% | 25.9% |
| 2023 | $284M | $156M | $77M | $-87M | 9.8% | -18.7% | -55.2% |
| 2022 | $350M | $239M | $173M | $35M | 22.4% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 275.74 |
| Operating Revenue | 284.38 |
| Cost Of Revenue | 176.68 |
| Gross Profit | 99.06 |
| Operating Expense | 33.69 |
| Selling General And Administration | 29.85 |
| Total Expenses | 210.37 |
| Operating Income | 65.37 |
| Total Operating Income As Reported | 69.97 |
| EBITDA | 128.78 |
| Normalized EBITDA | 126.91 |
| EBIT | 68.91 |
| Interest Income | 5.12 |
| Interest Expense | 30.34 |
| Net Interest Income | -28.68 |
| Other Income Expense | 1.88 |
| Interest Income Non Operating | 5.12 |
| Interest Expense Non Operating | 30.34 |
| Net Non Operating Interest Income Expense | -28.68 |
| Pretax Income | 38.56 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 0.75 |
| Net Income Continuous Operations | 38.56 |
| Net Income From Continuing And Discontinued Operation | 38.56 |
| Net Income From Continuing Operation Net Minority Interest | 38.56 |
| Net Income | 38.56 |
| Net Income Common Stockholders | 30.56 |
| Net Income Including Noncontrolling Interests | 38.56 |
| Normalized Income | 37.44 |
| Diluted NI Availto Com Stockholders | 30.56 |
| Basic Average Shares | 103.04 |
| Diluted Average Shares | 103.04 |
| Reconciled Depreciation | 59.88 |
| Reconciled Cost Of Revenue | 176.68 |
| Total Unusual Items | 1.88 |
| Total Unusual Items Excluding Goodwill | 1.88 |
| Preferred Stock Dividends | 8 |
| Special Income Charges | 4.60 |
| Other Special Charges | - |
| Gain On Sale Of Security | -2.72 |
| General And Administrative Expense | 29.85 |
| Other Gand A | 29.22 |
| Salaries And Wages | 0.63 |
| Gain On Sale Of Ppe | 4.60 |
| Insurance And Claims | - |
| Total Other Finance Cost | 3.46 |
| Other Operating Expenses | 3.84 |
| Otherunder Preferred Stock Dividend | - |
| Other Taxes | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Safe Bulkers, Inc.this co. | SB | $652M | 16.90↓ discount | 0.78 | 4.6% | 8.16 |
| Park Aerospace Corp. | PKE | $687M | 60.97 | 5.29 | 8.7% | 39.66 |
| Himalaya Shipping Ltd. | HSHP | $677M | 38.28 | 4.19 | 10.9% | 13.57 |
| Smith & Wesson Brands, Inc. | SWBI | $675M | 50.28 | 1.81 | 3.6% | 13.72 |
| Ardmore Shipping Corporation | ASC | $652M |
| - |
| - |
| - |
| - |
| - |
| 15.89 |
| 1.03 |
| 6.5% |
| 9.11 |
| Hyster-Yale, Inc. | HY | $645M | -10.74 | 1.37 | -12.7% | 34.14 |
| Latham Group, Inc. | SWIM | $639M | 57.42 | 1.57 | 2.7% | 9.70 |
| Kimball Electronics, Inc. | KE | $634M | 37.31 | 1.11 | 3.0% | 8.87 |
| Sturm, Ruger & Company, Inc. | RGR | $628M | - | 2.21 | -1.5% | 33.97 |
| Peer Median | - | 38.28 | 1.69 | 3.3% | 13.65 | |