Star Bulk Carriers (SBLK)
NASDAQ:SBLK
Top Page
Star Bulk Carriers
(NASDAQ:SBLK)
Select Model
Select Model
Rating:62Neutral
Price Target:
$23.50
â–¼(-2.85% Downside)
Action:ReiteratedDate:02/27/26
The score is driven primarily by a reasonably solid financial foundation (improving leverage and continued positive cash flow) but weighed down by a pronounced 2025 earnings/margin reset that underscores cyclical risk. Technicals are supportive with strong upward momentum, while valuation is a notable headwind due to the high P/E and modest yield. Earnings-call tone and actions (buybacks/dividend, strong liquidity) are supportive but balanced by demand, debt, and fleet-related risks.
Positive Factors
Liquidity & deleveraging
Substantial cash, an available revolver and a pool of debt-free vessels provide durable financial optionality. This supports continued buybacks/dividends, funds retrofit or selective vessel purchases, and reduces near-term refinancing risk across shipping cycles, bolstering resilience.
Negative Factors
Cyclical revenue & margin pressure
Earnings show pronounced cycle sensitivity: recent revenue decline and steep margin compression reduce sustainable cash flow and increase exposure to freight-rate swings. Persistent weak cycles would curtail capacity to fund buybacks, capex or accelerate deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Liquidity & deleveraging
Substantial cash, an available revolver and a pool of debt-free vessels provide durable financial optionality. This supports continued buybacks/dividends, funds retrofit or selective vessel purchases, and reduces near-term refinancing risk across shipping cycles, bolstering resilience.
Read all positive factors
Star Bulk Carriers (SBLK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.75B
Dividend Yield1.59%
Average Volume (3M)1.80M
Price to Earnings (P/E)26.3
Beta (1Y)1.15
Revenue Growth-13.87%
EPS Growth-82.48%
CountryUS
Employees301
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.65
Shares Outstanding113,847,450
10 Day Avg. Volume1,037,671
30 Day Avg. Volume1,804,841
Financial Highlights & Ratios
PEG Ratio-0.35
Price to Book (P/B)0.90
Price to Sales (P/S)2.12
P/FCF Ratio10.52
Enterprise Value/Market Cap1.21
Enterprise Value/Revenue3.19
Enterprise Value/Gross Profit9.67
Enterprise Value/Ebitda10.46
Forecast
1Y Price Target
$30.00Price Target Upside24.02% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)3.15
Revenue Forecast (FY)$1.09B
Star Bulk Carriers Business Overview & Revenue Model
Company Description
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite...
How the Company Makes Money
Star Bulk primarily makes money by chartering its dry bulk vessels to customers to transport cargoes, earning freight income that is generally quoted as a time-charter equivalent (TCE) rate. Key revenue streams include: (1) Time charters: the vess...
Star Bulk Carriers Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 20, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive operational and financial picture: strong Q4 profitability (adjusted EBITDA $126.4M and adjusted EPS $0.16), robust per-vessel economics, substantial cash reserves (~$459M), active shareholder returns (dividend and buybacks), and clear progress on fleet efficiency and ESG initiatives. Market commentary was cautiously optimistic with modest expected demand and ton-mile growth in 2026. Notable challenges include commodity-specific headwinds (coal contraction and China steel weakness), ongoing fleet aging and retrofit-related off-hire days, regulatory/orderbook uncertainty, and a meaningful outstanding debt balance (~$1B). Overall, the highlights—particularly cash generation, capital return programs, deleveraging track record, and fleet modernization actions—outweigh the lowlights.Positive Updates
Strong profitability and cash generation
Adjusted EBITDA of $126,400,000 in Q4 and adjusted EPS of $0.16, demonstrating solid profitability and cash-generating capacity even in a moderate rate environment.
Negative Updates
China steel slowdown and commodity headwinds
China crude steel production fell 4.5% in 2025 and plunged 11% in Q4; elevated Chinese stockpiles and slower industrial production pose downside risk to demand despite some second-half recovery in imports.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong profitability and cash generation
Adjusted EBITDA of $126,400,000 in Q4 and adjusted EPS of $0.16, demonstrating solid profitability and cash-generating capacity even in a moderate rate environment.
Read all positive updates
Company Guidance
Management's guidance centers on a dual-track capital‑return and disciplined investment approach: a $0.37 Q4 dividend (payable Mar 19, record Mar 9) and an intent to distribute 1% of free cash flow (citing $0.50/sh), plus a new $100M share‑repurchase authorization (Q4 buybacks: 1.2M shares for $37.9M; YTD 2026 ~1.9M shares); key financial/operating metrics cited were Q4 adjusted EPS $0.16, adjusted EBITDA $126.4M, 2025 net income $65.2M (adjusted net $74.5M), beginning‑Q4 cash $457M (total cash ≈ $459M), Q4 operating cash flow $101M, outstanding debt ≈ $1.0B, undrawn revolver $110M, and 27 debt‑free vessels valued ≈ $630M; per‑vessel economics highlighted TCE $19,012/day, combined OpEx + net cash G&A $6,444/day (OpEx $5,045 + G&A $1,399) and a daily cash margin ≈ $12,570 before debt service and CapEx; fleet and market guidance included 141 vessels (avg age ~12.1 yrs), 2025 deliveries 36.2M dwt vs demolitions 5.2M dwt (net +31.0M dwt, +3% y/y), orderbook 45.8M dwt (12.8% of fleet), an expected ~0.5% effective capacity reduction in 2026–27 from surveys/drydocks, average steaming speed ~11.1 knots, and drybulk demand forecasts for 2026 of +0.6% in tons and +1.9% in ton‑miles (iron ore +1.9%, coal −2.5%, grain +7.8%, minor bulks +2.1%); management said buybacks/dividends will be funded opportunistically (vessel sales/deleveraging) while continuing targeted fleet investments (e.g., $130M debt secured on five Qingdao vessels, expected $74M on three Qingling vessels, ~$55.6M telemetry spend, 55/80 ESD installations with 14 more planned).Star Bulk Carriers Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.04B | 1.27B | 949.27M | 1.44B | 1.43B |
| Gross Profit | 234.38M | 582.64M | 394.75M | 820.71M | 930.25M |
| EBITDA | 308.93M | 504.86M | 334.84M | 765.78M | 887.19M |
| Net Income | 84.17M | 304.65M | 173.56M | 566.00M | 680.53M |
Balance Sheet | |||||
| Total Assets | 3.81B | 4.09B | 3.03B | 3.43B | 3.75B |
| Cash, Cash Equivalents and Short-Term Investments | 500.32M | 425.07M | 259.73M | 284.32M | 450.29M |
| Total Debt | 1.07B | 1.46B | 1.26B | 1.29B | 1.59B |
| Total Liabilities | 1.36B | 1.60B | 1.37B | 1.41B | 1.67B |
| Stockholders Equity | 2.45B | 2.48B | 1.66B | 2.02B | 2.08B |
Cash Flow | |||||
| Free Cash Flow | 210.05M | 412.28M | 317.69M | 744.50M | 636.92M |
| Operating Cash Flow | 294.04M | 467.38M | 335.78M | 769.90M | 767.07M |
| Investing Cash Flow | 101.16M | 356.18M | 235.52M | -20.87M | -121.26M |
| Financing Cash Flow | -334.14M | -644.42M | -595.89M | -935.95M | -368.07M |
Star Bulk Carriers Technical Analysis
Positive
24.19
Price Trends
23.45
Positive
21.42
Positive
19.76
Positive
Market Momentum
0.24
Negative
56.39
Neutral
84.61
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBLK, the sentiment is Positive. The current price of 24.19 is above the 20-day moving average (MA) of 22.98, above the 50-day MA of 23.45, and above the 200-day MA of 19.76, indicating a bullish trend. The MACD of 0.24 indicates Negative momentum. The RSI at 56.39 is Neutral, neither overbought nor oversold. The STOCH value of 84.61 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SBLK.
Star Bulk Carriers Risk Analysis
Star Bulk Carriers disclosed 54 risk factors in its most recent earnings report. Star Bulk Carriers reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
We and Eagle may be targets of shareholder class actions or derivative actions, which could result in substantial costs and may delay or prevent the Eagle Merger from being completed. Q4, 2023
2.
Our future results will suffer if we do not effectively manage our expanded operations following the Eagle Merger. Q4, 2023
3.
If the completion of the Eagle Merger occurs, we may not realize all of the anticipated benefits of the Eagle Merger or those benefits may take longer to realize than expected. We may also encounter significant difficulties in integrating the two businesses. Q4, 2023
Star Bulk Carriers Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $2.12B | 3.51 | 13.56% | 3.64% | 3.82% | -13.73% | |
72 Outperform | $2.09B | 5.21 | 16.86% | 2.94% | -29.82% | -16.77% | |
70 Outperform | $2.00B | 3.29 | 8.85% | 0.39% | -1.33% | -33.66% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $2.75B | 26.26 | 3.46% | 1.59% | -13.87% | -82.48% | |
59 Neutral | $1.58B | -39.32 | -2.63% | 12.24% | -11.10% | -101.57% |
* Industrials Sector Average
SBLK
Star Bulk Carriers
24.19
10.33
74.49%
CMRE
Costamare
17.34
10.95
171.36%
DAC
Danaos
116.43
45.63
64.44%
NMM
Navios Maritime Partners
70.10
38.51
121.89%
SFL
SFL Corporation
10.92
3.93
56.25%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.