Safe Bulkers (SB) AI Stock Analysis

• Market Cap: $497.32M
• Dividend Yield: 4.12%
• Average Volume (3M): 532.81K
• Price to Earnings (P/E): 13.3
• Beta (1Y): 1.09
• Revenue Growth: -13.74%
• EPS Growth: -59.37%
• Country: US
• Employees: 941
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): 0.12
• Shares Outstanding: 102,328,390
• 10 Day Avg. Volume: 468,488
• 30 Day Avg. Volume: 532,811
• 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: 1.72
• Enterprise Value/Revenue: 3.11
• Enterprise Value/Gross Profit: 8.43
• Enterprise Value/Ebitda: 6.10
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.35
• Revenue Forecast (FY): $261.86M

• Rating: 72 Outperform
• Price Target: $6.00 ▲(11.73% Upside)

Safe Bulkers' overall stock score is driven by its solid financial performance and positive technical indicators. The company's strong cash flow and operational efficiency are significant strengths. However, fair valuation and challenges highlighted in the earnings call, such as decreased revenue and geopolitical risks, slightly temper the score.

Positive Factors

Fleet Renewal and Environmental Upgrades

The fleet renewal and environmental upgrades enhance operational efficiency and compliance with environmental regulations, positioning Safe Bulkers for long-term competitiveness.

Strong Cash Flow Generation

Robust cash flow generation provides financial flexibility for strategic investments and debt management, supporting sustainable business growth.

Share Repurchase Program

The share repurchase program reflects management's confidence in the company's future and aims to enhance shareholder value through strategic capital allocation.

Negative Factors

Decreased Revenue and Earnings

Declining revenue and earnings in a weaker market environment could challenge Safe Bulkers' profitability and growth prospects if market conditions do not improve.

Geopolitical and Economic Uncertainties

Geopolitical and economic uncertainties can disrupt global trade flows, impacting demand for shipping services and posing risks to Safe Bulkers' operational stability.

Lower Time Charter Equivalent (TCE)

A decline in TCE rates indicates reduced profitability per vessel, potentially affecting overall revenue and profit margins if the trend persists.

Safe Bulkers Business Overview & Revenue Model

Company Description

Safe Bulkers, Inc. is a global shipping company that specializes in the transportation of dry bulk commodities. The company operates a fleet of modern, eco-friendly vessels, primarily focusing on the transportation of bulk materials such as coal, iron ore, grain, and fertilizers. Safe Bulkers serves a diverse range of clients, including major commodity traders and industrial producers, providing reliable and efficient shipping solutions worldwide.

How the Company Makes Money

Safe Bulkers generates revenue primarily through the chartering of its vessels. The company employs a mix of time charters and spot charters, allowing it to capitalize on fluctuating market rates for shipping dry bulk commodities. The time charter contracts typically provide more stable and predictable revenue streams over longer periods, while spot charters can yield higher profits during periods of high demand. Additionally, Safe Bulkers may benefit from partnerships with major shipping companies and commodity traders, enhancing their market reach and ability to secure lucrative contracts. Factors such as global demand for commodities, shipping rates, and operational efficiency also significantly influence the company's earnings.

Safe Bulkers Financial Statement Overview

Summary

Safe Bulkers demonstrates solid financial health with strong operational margins and cash flow generation. Despite a decline in revenue growth, the company maintains efficient cost management and a stable balance sheet with moderate leverage. The robust cash flow performance enhances its financial flexibility.

Income Statement

Safe Bulkers has shown a decline in revenue growth in the TTM period, with a negative growth rate of -1.03%. However, the company maintains a solid gross profit margin of 36.93% and a net profit margin of 16.78%, indicating efficient cost management. The EBIT and EBITDA margins are also strong at 29.28% and 51.07%, respectively, reflecting robust operational performance despite the revenue decline.

Balance Sheet

The company's debt-to-equity ratio stands at 0.62, indicating a moderate level of leverage, which is manageable. The return on equity (ROE) is relatively low at 5.59%, suggesting limited profitability from shareholders' equity. However, the equity ratio is healthy, with stockholders' equity making up a significant portion of total assets, indicating financial stability.

Cash Flow

Safe Bulkers has demonstrated a strong free cash flow growth rate of 58.01% in the TTM period, showcasing improved cash generation capabilities. The operating cash flow to net income ratio is 1.64, indicating good cash conversion efficiency. The free cash flow to net income ratio of 0.57 further supports the company's ability to generate cash relative to its net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	274.66M	307.63M	284.40M	349.72M	329.03M	198.16M
Gross Profit	101.42M	140.17M	119.41M	210.02M	194.87M	32.22M
EBITDA	140.28M	190.46M	159.42M	242.57M	245.13M	64.96M
Net Income	46.09M	97.38M	77.35M	172.55M	174.35M	-12.90M
Balance Sheet
Total Assets	1.37B	1.40B	1.34B	1.25B	1.09B	1.11B
Cash, Cash Equivalents and Short-Term Investments	115.25M	128.42M	89.94M	114.38M	102.08M	105.22M
Total Debt	516.28M	536.64M	507.92M	414.36M	377.65M	607.67M
Total Liabilities	546.33M	571.48M	547.30M	474.00M	415.08M	642.77M
Stockholders Equity	826.28M	831.62M	792.51M	771.92M	679.24M	462.86M
Cash Flow
Free Cash Flow	54.68M	-14.32M	-86.90M	34.72M	107.97M	12.93M
Operating Cash Flow	95.69M	130.46M	122.21M	218.00M	217.20M	63.38M
Investing Cash Flow	-28.95M	-71.73M	-151.73M	-229.40M	8.55M	-34.78M
Financing Cash Flow	-26.40M	-25.86M	29.14M	-40.10M	-225.90M	-9.29M

Safe Bulkers Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 5.37
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SB, the sentiment is Neutral. The current price of 5.37 is above the 20-day moving average (MA) of 5.06, above the 50-day MA of 4.73, and above the 200-day MA of 4.05, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 43.34 is Neutral, neither overbought nor oversold. The STOCH value of 6.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	$382.35M	3.15	31.33%	4.95%	7.26%	6.60%
SB	72 Outperform	$497.32M	13.34	5.58%	4.12%	-13.74%	-59.37%
PANL	68 Neutral	$471.71M	24.54	4.23%	3.44%	14.21%	-36.71%
SBLK	67 Neutral	$2.09B	34.74	2.50%	1.64%	-13.87%	-82.48%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
GNK	59 Neutral	$789.19M	-109.71	-0.78%	4.10%	-24.58%	-110.22%
CMDB	48 Neutral	$380.32M	―	―	―	―	―

Safe Bulkers Corporate Events

Safe Bulkers Initiates 10 Million Share Repurchase Program

On December 1, 2025, Safe Bulkers, Inc. announced a new stock repurchase program authorizing the purchase of up to 10 million shares of its common stock. This initiative represents approximately 9.8% of the company’s outstanding shares and 20% of its public float, aiming to enhance shareholder value. The program will be funded through existing cash resources and may be modified or terminated at any time, reflecting the company’s strategic flexibility in managing its capital structure.

Safe Bulkers Announces Q3 2025 Financial Results and Dividend

On November 25, 2025, Safe Bulkers, Inc. announced its unaudited financial results for the third quarter of 2025, reporting net revenues of $73.1 million and a net income of $17.8 million. The company also declared a cash dividend of $0.05 per share of common stock, reflecting its commitment to returning value to shareholders.

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.