What is Safe Bulkers's earnings per share (EPS)?

Safe Bulkers (SB) reported diluted earnings per share of $0.30 for fiscal year 2025. This represents a -63.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Safe Bulkers Financials

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Safe Bulkers (SB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 29/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Safe Bulkers's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Safe Bulkers carries a low D/E ratio of 0.61, meaning only $0.61 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Safe Bulkers's current ratio of 2.90 indicates adequate short-term liquidity, earning a score of 55/100. The company can meet its near-term obligations, though with limited headroom.

Returns

Safe Bulkers generates a 4.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 28/100. This is down from 11.7% the prior year.

Piotroski F-Score Neutral

5/9

Safe Bulkers passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.

Earnings Quality Cash-Backed

2.65x

For every $1 of reported earnings, Safe Bulkers generates $2.65 in operating cash flow ($102.3M OCF vs $38.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

2.3x

Safe Bulkers earns $2.3 in operating income for every $1 of interest expense ($70.0M vs $30.3M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

$129.8M

YoY-30.4%

5Y CAGR+14.9%

10Y CAGR+24.0%

Safe Bulkers's EBITDA was $129.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 30.4% from the prior year.

Net Income

$38.6M

YoY-60.4%

Safe Bulkers reported $38.6M in net income in fiscal year 2025. This represents a decrease of 60.4% from the prior year.

EPS (Diluted)

$0.30

YoY-63.9%

Safe Bulkers earned $0.30 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 63.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$141.6M

YoY+74.6%

5Y CAGR+9.5%

10Y CAGR+0.8%

Safe Bulkers held $141.6M in cash against $503.7M in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.20

YoY+0.0%

10Y CAGR+17.5%

Safe Bulkers paid $0.20 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

102M

YoY+0.0%

5Y CAGR+0.0%

10Y CAGR+2.0%

Safe Bulkers had 102M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

4.6%

YoY-7.1pp

5Y CAGR+7.5pp

10Y CAGR+12.2pp

Safe Bulkers's ROE was 4.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 7.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$11.0M

YoY-61.9%

5Y CAGR+12.9%

Safe Bulkers spent $11.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 61.9% from the prior year.

Capital Expenditures

N/A

SB Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$29.9M+10.4%	$27.0M+13.8%	$23.8M+9.0%	$21.8M-3.1%	$22.5M+4.6%	$21.5M
Operating Income	$70.0M-45.5%	$128.4M+23.3%	$104.1M-43.6%	$184.6M-3.5%	$191.4M+1726.8%	$10.5M
Interest Expense	$30.3M-3.3%	$31.4M+27.0%	$24.7M+44.2%	$17.1M+16.4%	$14.7M-30.7%	$21.2M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$38.6M-60.4%	$97.4M+25.9%	$77.4M-55.2%	$172.6M-1.0%	$174.3M+1451.0%	-$12.9M
EPS (Diluted)	$0.30-63.9%	$0.83+36.1%	$0.61-55.1%	$1.36-5.6%	$1.44+676.0%	$-0.25

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q3'21	Q2'21	Q4'20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SB Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.4B0.0%	$1.4B+4.7%	$1.3B+7.5%	$1.2B+13.9%	$1.1B-1.0%	$1.1B
Current Assets	$200.6M+21.3%	$165.4M+12.7%	$146.7M-7.0%	$157.7M+27.1%	$124.1M-7.9%	$134.7M
Cash & Equivalents	$141.6M+74.6%	$81.1M+68.3%	$48.2M-2.0%	$49.2M-51.3%	$101.0M+12.2%	$90.0M
Inventory	$19.0M+27.7%	$14.9M-10.6%	$16.7M-3.9%	$17.3M+100.2%	$8.7M-28.1%	$12.0M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$572.5M+0.2%	$571.5M+4.4%	$547.3M+15.5%	$474.0M+14.2%	$415.1M-35.4%	$642.8M
Current Liabilities	$69.1M-20.1%	$86.5M+55.2%	$55.7M-39.0%	$91.3M+3.0%	$88.7M-15.3%	$104.7M
Long-Term Debt	$503.7M+3.9%	$484.8M-0.8%	$488.8M+29.7%	$376.9M+18.1%	$319.1M-40.4%	$534.9M
Total Equity	$830.7M-0.1%	$831.6M+4.9%	$792.5M+2.7%	$771.9M+13.6%	$679.2M+52.7%	$444.7M
Retained Earnings	$517.3M+2.0%	$507.3M+15.4%	$439.5M+11.9%	$392.8M+54.7%	$253.9M+181.1%	$90.3M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q3'21	Q2'21	Q4'20
Total Assets	$1.4B0.0%	$1.4B+4.7%	$1.3B+7.5%	$1.2B+13.9%	$1.1B+2.9%	$1.1B-1.3%	$1.1B-2.5%	$1.1B
Current Assets	$200.6M+21.3%	$165.4M+12.7%	$146.7M-7.0%	$157.7M+27.1%	$124.1M-11.2%	$139.8M-18.5%	$171.5M+27.3%	$134.7M
Cash & Equivalents	$141.6M+74.6%	$81.1M+68.3%	$48.2M-2.0%	$49.2M-51.3%	$101.0M+6.9%	$94.5M-16.8%	$113.6M+26.2%	$90.0M
Inventory	$19.0M+27.7%	$14.9M-10.6%	$16.7M-3.9%	$17.3M+100.2%	$8.7M+20.0%	$7.2M-24.8%	$9.6M-20.3%	$12.0M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$572.5M+0.2%	$571.5M+4.4%	$547.3M+15.5%	$474.0M+14.2%	$415.1M-7.1%	$447.0M-14.6%	$523.2M-18.6%	$642.8M
Current Liabilities	$69.1M-20.1%	$86.5M+55.2%	$55.7M-39.0%	$91.3M+3.0%	$88.7M+33.9%	$66.2M-2.3%	$67.8M-35.3%	$104.7M
Long-Term Debt	$503.7M+3.9%	$484.8M-0.8%	$488.8M+29.7%	$376.9M+18.1%	$319.1M-14.9%	$374.9M-16.7%	$450.0M-15.9%	$534.9M
Total Equity	$830.7M-0.1%	$831.6M+4.9%	$792.5M+2.7%	$771.9M+13.6%	$679.2M+10.1%	$616.8M+11.3%	$554.3M+24.6%	$444.7M
Retained Earnings	$517.3M+2.0%	$507.3M+15.4%	$439.5M+11.9%	$392.8M+54.7%	$253.9M+32.6%	$191.4M+37.9%	$138.8M+53.7%	$90.3M

SB Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$102.3M-21.6%	$130.5M+6.8%	$122.2M-44.0%	$218.0M+0.4%	$217.2M+242.7%	$63.4M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$9.7M+113.5%	-$71.7M+52.7%	-$151.7M+33.9%	-$229.4M-2781.8%	$8.6M+124.6%	-$34.8M
Financing Cash Flow	-$52.4M-102.5%	-$25.9M-188.7%	$29.1M+172.7%	-$40.1M+82.2%	-$225.9M-2330.9%	-$9.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$11.0M-61.9%	$28.9M+10.3%	$26.2M+189.7%	$9.1M	$0-100.0%	$6.0M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q3'21	Q2'21	Q4'20
Operating Cash Flow	N/A	N/A	N/A	N/A	$63.2M-7.2%	$68.1M	N/A	$29.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	$12.4M+179.9%	-$15.5M	N/A	$747K
Financing Cash Flow	N/A	N/A	N/A	N/A	-$71.5M-0.3%	-$71.2M	N/A	-$1.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	$0	$0	N/A	$0

SB Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	4.6%-7.1pp	11.7%+1.9pp	9.8%-12.6pp	22.4%-3.3pp	25.7%+28.6pp	-2.9%
Return on Assets	2.8%-4.2pp	6.9%+1.2pp	5.8%-8.1pp	13.9%-2.1pp	15.9%+17.1pp	-1.2%
Current Ratio	2.90+1.0	1.91-0.7	2.63+0.9	1.73+0.3	1.40+0.1	1.29
Debt-to-Equity	0.61+0.0	0.58-0.0	0.62+0.1	0.49+0.0	0.47-0.7	1.20
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q3'21	Q2'21	Q4'20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	2.90+1.0	1.91-0.7	2.63+0.9	1.73+0.3	1.40-0.7	2.11-0.4	2.53+1.2	1.29
Debt-to-Equity	0.61+0.0	0.58-0.0	0.62+0.1	0.49+0.0	0.47-0.1	0.61-0.2	0.81-0.4	1.20
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Safe Bulkers profitable?

Yes, Safe Bulkers (SB) reported a net income of $38.6M in fiscal year 2025.

What is Safe Bulkers's EBITDA?

Safe Bulkers (SB) had EBITDA of $129.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Safe Bulkers have?

As of fiscal year 2025, Safe Bulkers (SB) had $141.6M in cash and equivalents against $503.7M in long-term debt.

Does Safe Bulkers pay dividends?

Yes, Safe Bulkers (SB) paid $0.20 per share in dividends during fiscal year 2025.

What is Safe Bulkers's return on equity (ROE)?

Safe Bulkers (SB) has a return on equity of 4.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Safe Bulkers's operating cash flow?

Safe Bulkers (SB) generated $102.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Safe Bulkers's total assets?

Safe Bulkers (SB) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Safe Bulkers buy back shares?

Yes, Safe Bulkers (SB) spent $11.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Safe Bulkers have outstanding?

Safe Bulkers (SB) had 102M shares outstanding as of fiscal year 2025.

What is Safe Bulkers's current ratio?

Safe Bulkers (SB) had a current ratio of 2.90 as of fiscal year 2025, which is generally considered healthy.

What is Safe Bulkers's debt-to-equity ratio?

Safe Bulkers (SB) had a debt-to-equity ratio of 0.61 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Safe Bulkers's return on assets (ROA)?

Safe Bulkers (SB) had a return on assets of 2.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Safe Bulkers's Piotroski F-Score?

Safe Bulkers (SB) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Safe Bulkers's earnings high quality?

Safe Bulkers (SB) has an earnings quality ratio of 2.65x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Safe Bulkers cover its interest payments?

Safe Bulkers (SB) has an interest coverage ratio of 2.3x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Safe Bulkers?

Safe Bulkers (SB) scores 29 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.