WallStSmart
SB

Safe Bulkers Inc

NYSE: SB · INDUSTRIALS · MARINE SHIPPING

$7.07
-1.08% today

Updated 2026-06-04

Market cap
$678.16M
P/E ratio
22.20
P/S ratio
2.46x
EPS (TTM)
$0.30
Dividend yield
3.09%
52W range
$3 – $7
Volume
0.5M

Safe Bulkers Inc (SB) Financial statements

SEC filings — annual and quarterly data.

Income statement — annual

Item20062007200820092010201120122013201420152016201720182019202020212022202320242025
Revenue$95.31M$165.85M$200.77M$164.61M$157.02M$168.91M$184.30M$186.72M$154.09M$127.32M$109.77M$148.03M$193.19M$197.76M$198.16M$329.03M$349.72M$284.40M$307.63M$275.74M
Revenue growth (YoY)+74.0%+21.1%-18.0%-4.6%+7.6%+9.1%+1.3%-17.5%-17.4%-13.8%+34.9%+30.5%+2.4%+0.2%+66.0%+6.3%-18.7%+8.2%-10.4%
Cost of revenue$17.22M$22.19M$28.50M$34.10M$43.41M$51.48M$74.08M$89.56M$113.15M$120.46M$106.68M$108.15M$117.96M$132.59M$165.94M$134.17M$139.70M$165.00M$167.46M$176.68M
Gross profit$95.31M$143.66M$172.27M$130.51M$113.61M$117.43M$110.22M$97.16M$40.95M$6.86M$3.09M$39.88M$75.23M$65.17M$32.22M$194.87M$210.02M$119.41M$140.17M$99.06M
Gross margin100.0%86.6%85.8%79.3%72.4%69.5%59.8%52.0%26.6%5.4%2.8%26.9%38.9%33.0%16.3%59.2%60.1%42.0%45.6%35.9%
R&D
SG&A$1.16M$22.61M$8.04M$7.05M$7.02M$8.49M$9.95M$11.36M$13.33M$14.62M$15.38M$16.12M$19.24M$20.64M$21.50M$22.50M$21.80M$23.76M$27.04M$29.85M
Operating income$108.13M$118.56M$163.66M$123.46M$106.59M$108.73M$100.27M$85.80M$23.61M$-9.19M$-12.29M$23.76M$55.99M$44.53M$10.72M$172.37M$184.65M$93.77M$111.87M$69.21M
Operating margin113.4%71.5%81.5%75.0%67.9%64.4%54.4%45.9%15.3%-7.2%-11.2%16.1%29.0%22.5%5.4%52.4%52.8%33.0%36.4%25.1%
EBITDA$92.22M$227.01M$146.22M$189.75M$135.74M$119.21M$138.67M$130.99M$68.66M$13.87M$17.89M$-7.57M$104.23M$95.72M$64.96M$245.13M$242.57M$159.42M$190.46M$129.09M
EBITDA margin96.8%136.9%72.8%115.3%86.4%70.6%75.2%70.2%44.6%10.9%16.3%-5.1%54.0%48.4%32.8%74.5%69.4%56.1%61.9%46.8%
EBIT$82.49M$217.43M$135.60M$175.86M$116.07M$95.58M$106.42M$93.59M$25.57M$-33.26M$-31.59M$-59.00M$56.16M$45.41M$10.70M$192.76M$193.05M$105.30M$132.32M$69.21M
Interest expense$6.14M$8.22M$16.39M$10.45M$6.42M$5.84M$10.30M$10.34M$10.94M$14.69M$24.37M$25.68M$28.48M$29.37M$23.60M$18.41M$20.50M$27.94M$34.95M$33.80M
Income tax
Effective tax rate0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Net income$97.22M$209.20M$119.21M$165.41M$109.65M$89.73M$96.12M$83.26M$14.63M$-47.94M$-55.97M$-84.68M$27.68M$16.04M$-12.90M$174.35M$172.55M$77.35M$97.38M$38.56M
Net income growth (YoY)+115.2%-43.0%+38.8%-33.7%-18.2%+7.1%-13.4%-82.4%-427.6%-16.7%-51.3%+132.7%-42.1%-180.5%+1451.0%-1.0%-55.2%+25.9%-60.4%
Profit margin102.0%126.1%59.4%100.5%69.8%53.1%52.2%44.6%9.5%-37.7%-51.0%-57.2%14.3%8.1%-6.5%53.0%49.3%27.2%31.7%14.0%

Frequently asked questions

What is Safe Bulkers Inc's revenue?

Safe Bulkers Inc's trailing twelve-month revenue is $275.74M. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.

How profitable is SB?

In its most recent fiscal year, SB ran a gross margin of 35.93%, an operating margin of 25.10%, and a net margin of 13.99%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.

How much free cash flow does SB generate?

SB produced $60.30M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.

Is SB's balance sheet healthy?

SB holds $153.15M in cash and equivalents against $497.77M in long-term debt, on $830.71M of shareholder equity. That debt is best read against the cash flow the business throws off each year.