EuroDry (EDRY) AI Stock Analysis

• Market Cap: $35.56M
• Dividend Yield: N/A
• Average Volume (3M): 5.50K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.56
• Revenue Growth: -13.96%
• EPS Growth: -498.96%
• Country: US
• Employees: N/A
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): -1.10
• Shares Outstanding: 2,826,697
• 10 Day Avg. Volume: 3,096
• 30 Day Avg. Volume: 5,504
• PEG Ratio: -0.01
• Price to Book (P/B): 0.31
• Price to Sales (P/S): 0.50
• P/FCF Ratio: -7.80
• Enterprise Value/Market Cap: 3.63
• Enterprise Value/Revenue: 2.60
• Enterprise Value/Gross Profit: 33.05
• Enterprise Value/Ebitda: 16.41
• 1Y Price Target: $16.25
• Price Target Upside: 33.63% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 52 Neutral
• Price Target: $12.50 ▲(2.80% Upside)

EuroDry's overall stock score reflects significant financial challenges and valuation concerns, partially offset by moderate technical strength. The earnings call further underscores the company's operational efficiencies but highlights liquidity issues and market headwinds.

Positive Factors

Fleet Renewal

The sale of older vessels as part of a fleet renewal program enhances operational efficiency and aligns with environmental goals, strengthening long-term competitiveness.

Operational Efficiency

High fleet utilization rates reflect strong operational management, ensuring maximum revenue generation and cost efficiency, crucial for long-term sustainability.

ESG Initiatives

Commitment to ESG initiatives can enhance brand reputation, attract eco-conscious clients, and align with regulatory trends, supporting long-term growth and resilience.

Negative Factors

Revenue Decline

Significant revenue decline indicates challenges in market conditions and pricing power, potentially impacting long-term profitability and market position.

Liquidity Concerns

Tight liquidity limits financial flexibility, affecting the company's ability to invest in growth opportunities and manage economic downturns, posing a risk to stability.

Increasing Leverage

Increasing leverage can strain financial resources, elevate risk during market volatility, and limit the company's ability to navigate economic challenges effectively.

EuroDry Business Overview & Revenue Model

Company Description

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. As of March 31, 2022, it operated a fleet of ten drybulk carriers comprising five Panamax drybulk carriers, two Ultramax drybulk carrier, two Kamsarmax carriers, and one Supramax drybulk carrier with a cargo capacity of 726,555 deadweight tons. EuroDry Ltd. was incorporated in 2018 and is based in Marousi, Greece.

How the Company Makes Money

EuroDry generates revenue primarily through the operation of its fleet, which earns income by transporting drybulk cargo for various clients. The company typically enters into time charters or spot market contracts, allowing for flexible pricing based on market conditions. Key revenue streams include long-term charter contracts, which provide steady cash flow, and spot market voyages that capitalize on favorable freight rates. Additionally, the company may benefit from partnerships with shipping brokers and charterers that enhance its market presence and operational efficiency. Factors contributing to its earnings include global demand for drybulk commodities, shipping rates, and operational management of its fleet to minimize expenses while maximizing revenue.

EuroDry Financial Statement Overview

Summary

EuroDry faces challenges across its financial statements, with negative net income impacting profitability and return metrics. Revenue growth is inconsistent, and cash flows are strained, particularly free cash flow. Maintaining financial stability requires addressing these issues to improve liquidity and profitability going forward.

Income Statement

EuroDry's income statement reflects significant volatility. The company experienced a revenue growth of 28.32% in 2024, following a decline of 32.2% in 2023. Net profit margins are negative, with a notable decrease in net income from 2022 to 2024, indicating profitability challenges. Gross profit margins are relatively stable but insufficient to offset operating expenses, as evidenced by negative EBIT in 2024.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio of 1.08 in 2024, indicating balanced leverage relative to equity. However, the equity ratio of 45.06% suggests moderate reliance on debt financing. Return on equity has been negative due to net losses, highlighting the need for improved profitability.

Cash Flow

EuroDry's cash flow statement reveals negative free cash flow in recent years, with a significant decline in operating cash flow from 2023 to 2024. The operating cash flow to net income ratio is positive but diminishing, reflecting pressure on cash generation. Free cash flow remains under strain, demonstrating a need for better cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	49.71M	61.08M	47.59M	70.18M	64.44M	22.29M
Gross Profit	3.91M	20.81M	8.47M	42.12M	43.98M	3.84M
EBITDA	7.87M	13.33M	14.38M	48.38M	41.45M	3.15M
Net Income	-14.24M	-9.66M	-2.91M	33.54M	31.15M	-8.21M
Balance Sheet
Total Assets	206.63M	221.19M	231.05M	199.51M	161.33M	107.51M
Cash, Cash Equivalents and Short-Term Investments	6.21M	6.71M	10.80M	34.04M	26.85M	938.28K
Total Debt	101.29M	107.19M	103.93M	81.22M	78.65M	51.11M
Total Liabilities	107.27M	112.64M	111.63M	85.56M	82.41M	56.97M
Stockholders Equity	90.46M	99.69M	109.66M	113.94M	78.92M	50.54M
Cash Flow
Free Cash Flow	-6.70M	-3.92M	-53.50M	-4.80M	2.31M	1.71M
Operating Cash Flow	1.44M	4.81M	11.81M	32.99M	39.14M	2.33M
Investing Cash Flow	-3.33M	-8.73M	-65.30M	-28.40M	-36.82M	-611.11K
Financing Cash Flow	3.80M	1.73M	30.47M	3.01M	22.61M	-6.24M

EuroDry Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.16
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EDRY, the sentiment is Positive. The current price of 12.16 is below the 20-day moving average (MA) of 12.47, above the 50-day MA of 11.48, and above the 200-day MA of 10.42, indicating a bullish trend. The MACD of 0.28 indicates Positive momentum. The RSI at 57.76 is Neutral, neither overbought nor oversold. The STOCH value of 45.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EDRY.

EuroDry Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PSHG	73 Outperform	$22.88M	0.96	21.39%	―	-7.48%	3.08%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
TOPS	60 Neutral	$26.97M	2.54	7.94%	―	4.77%	―
EDRY	52 Neutral	$35.56M	―	-14.42%	―	-13.96%	-498.96%
PXS	52 Neutral	$30.30M	5.24	2.93%	―	-10.94%	-100.28%
CTRM	52 Neutral	$20.13M	2.34	-8.88%	―	-19.63%	-144.86%
GLBS	49 Neutral	$23.26M	61.24	-3.35%	―	11.80%	-186.40%

EuroDry Corporate Events

EuroDry Reports Increased Losses Amid Revenue Decline

EuroDry Ltd. reported its financial results for the six months ended June 30, 2025, revealing a significant decrease in time charter revenue compared to the same period in 2024. The company experienced a net loss of $7.1 million, a substantial increase from the previous year’s loss of $2.2 million. Despite a net gain from the sale of a vessel, operating income turned negative, and cash flow from operating activities decreased sharply. These results indicate financial challenges for EuroDry, potentially impacting its market position and stakeholders.

EuroDry Ltd. Sells Panamax Bulk Carrier as Part of Fleet Renewal

On September 15, 2025, EuroDry Ltd. announced an agreement to sell the M/V Eirini P, a 2004-built Panamax Bulk Carrier, for approximately $8.5 million. This sale is part of EuroDry’s fleet renewal program and is expected to generate a gain of about $0.6 million, enhancing the company’s balance sheet and liquidity. The transaction reflects EuroDry’s strategic focus on modernizing its fleet and improving operational efficiency.

EuroDry Ltd. Reports Q2 2025 Financial Results Amid Market Challenges

EuroDry Ltd. reported its financial results for the second quarter and first half of 2025, revealing a net loss of $3.1 million for the quarter and $6.8 million for the first half. The company faced challenges due to lower time charter equivalent rates and a decreased average number of vessels compared to the previous year. Despite a slight recovery in the drybulk market, the rebound was insufficient to return to profitability. The company has been actively repurchasing shares under its buyback program and plans to release its 2024 Sustainability/ESG Report. The outlook remains uncertain due to geopolitical tensions and macroeconomic factors, but EuroDry is considering longer-term charters if market conditions improve.

EuroDry Ltd. Announces 2025 AGM Results

On July 24, 2025, EuroDry Ltd. announced the outcomes of its Annual General Meeting of Shareholders held on July 23, 2025. Shareholders approved the re-election of Mr. George Taniskidis and Mr. Apostolos Tamvakakis as Class B Directors for a three-year term and confirmed Deloitte Certified Public Accountants, S.A. as the independent auditors for the fiscal year ending December 31, 2025. These decisions are crucial for EuroDry’s governance and financial oversight, potentially impacting its strategic direction and stakeholder confidence.