Safe Bulkers (SB) AI Stock Analysis

• Market Cap: $465.56M
• Dividend Yield: 4.34%
• Average Volume (3M): 342.01K
• Price to Earnings (P/E): 10.7
• Beta (1Y): 1.07
• Revenue Growth: -9.65%
• EPS Growth: -46.46%
• Country: US
• Employees: 941
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): 0.01
• Shares Outstanding: 102,320,100
• 10 Day Avg. Volume: 318,715
• 30 Day Avg. Volume: 342,014
• PEG Ratio: 0.11
• Price to Book (P/B): 0.46
• Price to Sales (P/S): 1.25
• P/FCF Ratio: -26.82
• Enterprise Value/Market Cap: 1.73
• Enterprise Value/Revenue: 2.90
• Enterprise Value/Gross Profit: 7.57
• Enterprise Value/Ebitda: 6.12
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: $4.50 ▲(5.14% Upside)

Safe Bulkers' overall score reflects strong operational efficiency and a stable financial position, but is tempered by declining revenue and free cash flow growth. The stock's valuation is reasonable, but technical indicators suggest potential short-term weakness. The earnings call provided mixed signals, with strong liquidity and fleet renewal efforts offset by decreased profitability.

Safe Bulkers Business Overview & Revenue Model

Company Description

Safe Bulkers, Inc. is a global provider of marine drybulk transportation services. The company operates a modern fleet of drybulk vessels, primarily focusing on the transportation of bulk commodities such as coal, iron ore, grain, and fertilizers. With a strategic emphasis on safe and efficient shipping operations, Safe Bulkers serves a diverse clientele that includes major commodity producers and traders, thereby positioning itself as a key player in the maritime shipping industry.

How the Company Makes Money

Safe Bulkers generates revenue primarily through the chartering of its fleet of drybulk vessels. The company employs a mix of time charters, which provide steady income for a set period, and spot charters, which allow for dynamic pricing based on market conditions. Key revenue streams include long-term contracts with major shipping companies and commodity producers, as well as participation in the spot market to capture favorable shipping rates. Additionally, Safe Bulkers benefits from operational efficiencies and cost management practices that enhance profitability. The company's strategic partnerships with industry players and its commitment to maintaining a modern and efficient fleet also contribute significantly to its earnings.

Safe Bulkers Financial Statement Overview

Summary

Safe Bulkers demonstrates solid operational efficiency and strong cash flow management, despite a decline in revenue and net income. The balance sheet shows a healthy equity position but highlights a reliance on debt. Overall, the company is stable with potential for future growth if revenue trends reverse.

Income Statement

The TTM (Trailing-Twelve-Months) revenue shows a decline compared to the previous full year. Gross profit and EBITDA margins remain strong at 42.23% and 45.66% respectively, despite the revenue drop, indicating efficiency in cost management. However, the net profit margin has slightly decreased to 27.32% from 31.66% in the previous year, reflecting a slight dip in profitability.

Balance Sheet

The debt-to-equity ratio is moderately high at 0.63, suggesting reliance on debt, though it is stable compared to previous years. Return on equity remains robust at 9.59%, indicating good profitability relative to equity. The equity ratio of 59.86% suggests a strong equity base, providing stability.

Cash Flow

Operating cash flow is positive, although decreased compared to the previous year, indicating strong cash generation. The free cash flow has improved significantly, moving from negative to positive, showing better cash management. The operating cash flow to net income ratio of 1.22 indicates efficient conversion of net income into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	277.51M	307.63M	284.40M	349.72M	329.03M	198.16M
Gross Profit	106.34M	140.17M	119.41M	210.02M	194.87M	32.22M
EBITDA	131.63M	186.89M	156.19M	242.57M	245.13M	64.75M
Net Income	53.43M	97.38M	77.35M	172.55M	174.35M	-12.90M
Balance Sheet
Total Assets	1.41B	1.40B	1.34B	1.25B	1.09B	1.11B
Cash, Cash Equivalents and Short-Term Investments	117.43M	125.42M	87.92M	113.38M	102.08M	101.82M
Total Debt	552.59M	536.64M	507.92M	414.36M	377.65M	607.67M
Total Liabilities	593.67M	571.48M	547.30M	474.00M	415.08M	660.88M
Stockholders Equity	815.58M	831.62M	792.51M	771.92M	679.24M	444.75M
Cash Flow
Free Cash Flow	34.61M	-14.32M	-86.90M	34.72M	107.97M	12.93M
Operating Cash Flow	75.62M	130.46M	122.21M	218.00M	217.20M	63.38M
Investing Cash Flow	-66.74M	-71.73M	-151.73M	-229.40M	8.55M	-34.78M
Financing Cash Flow	17.38M	-25.86M	29.14M	-40.10M	-225.90M	-9.29M

Safe Bulkers Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.28
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SB, the sentiment is Positive. The current price of 4.28 is below the 20-day moving average (MA) of 4.40, below the 50-day MA of 4.44, and above the 200-day MA of 3.85, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 61.52 is Neutral, neither overbought nor oversold. The STOCH value of 87.51 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SB.

Safe Bulkers Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ESEA	77 Outperform	$397.98M	3.34	32.88%	4.58%	7.73%	0.50%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
GNK	63 Neutral	$707.54M	47.21	1.70%	5.97%	-17.15%	2.40%
PANL	63 Neutral	$308.59M	21.65	2.37%	6.16%	15.09%	-71.58%
SB	61 Neutral	$465.56M	10.66	6.58%	4.34%	-9.65%	-46.46%
DSX	61 Neutral	$189.87M	12.58	4.23%	2.34%	-4.90%	21.09%
SHIP	59 Neutral	$172.24M	10.89	5.93%	5.51%	1.66%	-46.13%

Safe Bulkers Corporate Events

Safe Bulkers Declares Quarterly Dividends on Preferred Shares

On October 3, 2025, Safe Bulkers, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.50 per share on both its 8.00% Series C and Series D Cumulative Redeemable Perpetual Preferred Shares. These dividends are for the period from July 30, 2025, to October 29, 2025, and will be paid on October 30, 2025, to shareholders of record as of October 16, 2025. The company emphasizes that future dividend declarations will depend on various factors including earnings, financial condition, and global economic conditions.

Safe Bulkers Elects New Directors at 2025 Annual Meeting

On September 16, 2025, Safe Bulkers, Inc. announced the election of three Class II directors, Dr. Loukas Barmparis, Marina Hajioannou, and Christos Megalou, at its annual meeting of stockholders in Monaco. These directors will serve until the 2028 annual meeting. Additionally, Deloitte was ratified as the company’s independent auditors for the fiscal year ending December 31, 2025. This election and ratification are pivotal for Safe Bulkers as they ensure continuity in leadership and financial oversight, potentially impacting the company’s strategic direction and stakeholder confidence.

Safe Bulkers Sells Kamsarmax Vessel as Part of Fleet Renewal Strategy

On August 12, 2025, Safe Bulkers, Inc. announced the sale of the MV Pedhoulas Merchant, a 2006 Japanese-built Kamsarmax class dry-bulk vessel, for $11.5 million, with delivery scheduled for September 2025. This sale is part of the company’s strategy to renew its fleet, as it prepares to receive four newbuild vessels by 2026, and maintains an orderbook of six vessels through 2027.

Safe Bulkers Announces Q2 2025 Financial Results and Dividend Declaration

On July 29, 2025, Safe Bulkers, Inc. announced its unaudited financial results for the second quarter of 2025, reporting net revenues of $65.7 million and a net income of $1.7 million. The company also declared a cash dividend of $0.05 per share of common stock. Despite a decrease in net income compared to previous quarters, the declaration of a dividend reflects the company’s commitment to returning value to shareholders.

Safe Bulkers Announces 2025 Annual Meeting of Stockholders

Safe Bulkers, Inc. announced its 2025 Annual Meeting of Stockholders, scheduled for September 16, 2025, in Monaco. The meeting will address the election of directors, ratification of auditors, and other business matters. The company is utilizing electronic dissemination of proxy materials to reduce environmental impact and costs, encouraging shareholders to vote via the Internet, telephone, or mail.

Safe Bulkers Announces Sale of Kamsarmax Vessel as Part of Fleet Renewal Strategy

On July 28, 2025, Safe Bulkers, Inc. announced the sale of a 2007-built Kamsarmax class dry-bulk vessel, the MV Pedhoulas Leader, for $12.5 million with a forward delivery date between August and October 2025. This sale is part of the company’s fleet renewal strategy, which includes the acquisition of six modern energy-efficient vessels, four of which are expected to be delivered in 2026.