Stock SB SAFE BULKERS, INC.
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Financials Safe Bulkers, Inc.

Equities

SB

MHY7388L1039

Marine Freight & Logistics

Real-time Estimate Cboe BZX
Other stock markets
 11:22:12 2024-05-02 EDT 		5-day change 1st Jan Change
5.105 USD +1.09% Intraday chart for Safe Bulkers, Inc. +1.05% +29.59%
04-30 Transcript : Safe Bulkers, Inc., Q1 2024 Earnings Call, Apr 30, 2024
04-29 Earnings Flash (SB) SAFE BULKERS Posts Q1 EPS $0.20, vs. Street Est of $0.19 MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 177.8 132.8 458.6 345.9 438.6 539.2 - -
Enterprise Value (EV) 1 672.4 638.7 712.2 646.9 858.6 1,017 866.7 780.2
P/E ratio 42.5 x -5.2 x 2.62 x 2.14 x 6.44 x 5.79 x 6.82 x 4.23 x
Yield - - - 6.87% 5.09% 4.72% 4.15% 6.67%
Capitalization / Revenue 0.86 x 0.64 x 1.34 x 0.95 x 1.48 x 1.89 x 1.67 x 1.75 x
EV / Revenue 3.25 x 3.1 x 2.07 x 1.78 x 2.91 x 3.57 x 2.68 x 2.53 x
EV / EBITDA 7.2 x 9.93 x 3.18 x 2.74 x 5.76 x 5.4 x 5.02 x 3.71 x
EV / FCF 31.3 x 22.3 x 3.15 x -57 x -29.1 x 7.71 x 13.1 x 5.38 x
FCF Yield 3.2% 4.48% 31.7% -1.76% -3.44% 13% 7.62% 18.6%
Price to Book 0.37 x 0.3 x 0.68 x - 0.56 x 0.65 x 0.62 x -
Nbr of stocks (in thousands) 104,566 102,175 121,641 118,868 111,608 106,764 - -
Reference price 2 1.700 1.300 3.770 2.910 3.930 5.050 5.050 5.050
Announcement Date 20-02-26 21-02-15 22-03-09 23-02-14 24-02-13 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 206.7 206 343.5 364 295.4 285 323.4 308
EBITDA 1 93.45 64.35 223.9 236.4 149 188.4 172.6 210.5
EBIT 1 44.53 10.48 191.4 184.6 104.1 135 110.4 148.3
Operating Margin 21.54% 5.09% 55.73% 50.72% 35.26% 47.38% 34.15% 48.15%
Earnings before Tax (EBT) 1 16.04 -12.9 174.3 172.6 77.35 102 62.48 149
Net income 1 4.341 -25.31 163.6 163.6 69.35 94.04 54.47 141
Net margin 2.1% -12.29% 47.62% 44.93% 23.48% 33% 16.84% 45.78%
EPS 2 0.0400 -0.2500 1.440 1.360 0.6100 0.8718 0.7401 1.195
Free Cash Flow 1 21.5 28.59 225.8 -11.36 -29.52 132 66 145
FCF margin 10.4% 13.88% 65.73% -3.12% -9.99% 46.32% 20.41% 47.08%
FCF Conversion (EBITDA) 23.01% 44.43% 100.82% - - 70.07% 38.24% 68.9%
FCF Conversion (Net income) 495.25% - 138.03% - - 140.37% 121.16% 102.84%
Dividend per Share 2 - - - 0.2000 0.2000 0.2384 0.2097 0.3367
Announcement Date 20-02-26 21-02-15 22-03-09 23-02-14 24-02-13 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 96.85 96.44 81.1 95.46 97.38 90.11 69.49 73.32 67.1 85.48 84.98 67 69 72 -
EBITDA 1 67.68 67.58 46.94 66.58 69.09 55.99 33.11 34.3 30.91 50.69 46.85 44.22 44.94 48.59 26
EBIT 1 59.03 65.65 36.32 54.49 54.09 39.75 24.76 21.54 20.63 37.22 34.93 31.89 32.39 35.79 13
Operating Margin 60.95% 68.08% 44.79% 57.08% 55.54% 44.11% 35.63% 29.37% 30.75% 43.54% 41.11% 47.6% 46.94% 49.71% -
Earnings before Tax (EBT) 1 55.38 65.2 36.36 50.33 50.99 34.87 19.31 15.38 15.04 27.61 25.3 29 24 25 5
Net income 1 52.63 62.46 33.62 48.1 48.99 32.87 17.31 13.38 13.04 25.61 23.3 27 22 23 3
Net margin 54.35% 64.76% 41.45% 50.38% 50.31% 36.48% 24.91% 18.26% 19.44% 29.96% 27.42% 40.3% 31.88% 31.94% -
EPS 2 0.4400 0.5100 0.2800 0.4000 0.4100 0.2800 0.1500 0.1200 0.1200 0.2300 0.2100 0.2050 0.2100 0.2450 0.0300
Dividend per Share 2 - - - 0.0500 0.0500 0.0500 - 0.0500 0.0500 0.0500 - - - - -
Announcement Date 21-11-03 22-03-09 22-05-25 22-07-27 22-11-09 23-02-14 23-05-10 23-07-26 23-11-07 24-02-13 24-04-29 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 495 506 254 301 420 478 328 241
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.293 x 7.861 x 1.133 x 1.273 x 2.818 x 2.537 x 1.898 x 1.145 x
Free Cash Flow 1 21.5 28.6 226 -11.4 -29.5 132 66 145
ROE (net income / shareholders' equity) 3.42% -5.52% 25.5% 22% 7.95% 11.6% 5.33% 15.3%
ROA (Net income/ Total Assets) 1.46% -2.28% 13% 13.6% 4.81% 6.9% 4% 10.5%
Assets 1 296.5 1,110 1,256 1,200 1,442 1,363 1,362 1,343
Book Value Per Share 2 4.530 4.350 5.580 - 6.980 7.750 8.170 -
Cash Flow per Share 2 0.5700 0.6200 1.910 1.810 1.080 1.380 1.490 1.640
Capex 1 - 50.4 109 183 209 83.7 52.8 82.1
Capex / Sales - 24.48% 31.8% 50.34% 70.79% 29.37% 16.31% 26.65%
Announcement Date 20-02-26 21-02-15 22-03-09 23-02-14 24-02-13 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Safe Bulkers, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
5.05 USD
Average target price
5.062 USD
Spread / Average Target
+0.25%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Deep Sea Freight

1st Jan change Capi.
SAFE BULKERS, INC. Stock Safe Bulkers, Inc.
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Deep Sea Freight
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