SB
Safe Bulkers Inc
NYSE: SB · INDUSTRIALS · MARINE SHIPPING
$6.74
+2.12% today
Updated 2026-04-30
Market cap
$683.55M
P/E ratio
22.27
P/S ratio
2.48x
EPS (TTM)
$0.30
Dividend yield
3.03%
52W range
$3 – $7
Volume
0.6M
Safe Bulkers Inc (SB) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 margin | 100.0% | 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 margin | 113.4% | 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 margin | 96.8% | 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 rate | 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% | 0.0% |
| 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 margin | 102.0% | 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% |