Safe Bulkers, Inc. (SB) Financial Ratios
20 years of historical data (2006–2025) · Industrials · Marine Shipping
EV/EBITDA
↑
8.28
↑+72% vs avg
5yr avg: 4.81
30Y Low3.1·High16.0
P/FCF
↑
11.31
↑+52% vs avg
5yr avg: 7.44
30Y Low2.1·High10.3
P/B Ratio
↓
0.83
↑+53% vs avg
5yr avg: 0.54
30Y Low0.1·High4.9
ROE
↓
4.6%
↑-71% vs avg
5yr avg: 16.2%
30Y Low-16%·High148%
Debt/EBITDA
↑
4.18
↑+47% vs avg
5yr avg: 2.85
30Y Low1.2·High17.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SB Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Safe Bulkers, Inc. trades at 22.3x earnings, 254% above its 5-year average of 6.3x, sitting at the 92nd percentile of its historical range. Compared to the Industrials sector median P/E of 25.5x, the stock trades at a discount of 13%. On a free-cash-flow basis, the stock trades at 11.3x P/FCF, 52% above the 5-year average of 7.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $682M | $497M | $384M | $447M | $351M | $429M | $133M | $173M | $181M | $326M | $97M |
| Enterprise Value | $1.1B | $884M | $837M | $904M | $715M | $705M | $648M | $695M | $703M | $846M | $596M |
| P/E Ratio → | 22.33 | 16.07 | 4.30 | 6.44 | 2.14 | 2.62 | — | — | 6.59 | — | — |
| P/S Ratio | 2.47 | 1.80 | 1.25 | 1.57 | 1.00 | 1.30 | 0.67 | 0.87 | 0.94 | 2.20 | 0.89 |
| P/B Ratio | 0.83 | 0.60 | 0.46 | 0.56 | 0.45 | 0.63 | 0.29 | 0.35 | 0.37 | 0.71 | 0.17 |
| P/FCF | 11.31 | 8.24 | — | — | 10.11 | 3.97 | 10.32 | 9.08 | 4.58 | — | — |
| P/OCF | 6.67 | 4.86 | 2.94 | 3.65 | 1.61 | 1.97 | 2.10 | 2.97 | 2.12 | 6.63 | 7.20 |
P/E links to full P/E history page with 30-year chart
SB EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Safe Bulkers, Inc.'s enterprise value stands at 8.3x EBITDA, 72% above its 5-year average of 4.8x. The Industrials sector median is 13.9x, placing the stock at a 40% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.20 | 2.72 | 3.18 | 2.05 | 2.14 | 3.27 | 3.51 | 3.64 | 5.71 | 5.43 |
| EV / EBITDA | 8.28 | 6.85 | 4.92 | 6.11 | 3.05 | 3.14 | 9.97 | 7.33 | 6.76 | 11.25 | 16.03 |
| EV / EBIT | 15.45 | 12.21 | 6.32 | 8.59 | 3.71 | 3.66 | 60.55 | 15.30 | 12.52 | — | — |
| EV / FCF | — | 14.65 | — | — | 20.60 | 6.53 | 50.08 | 36.49 | 17.80 | — | — |
SB Profitability
Margins and return-on-capital ratios measuring operating efficiency
Safe Bulkers, Inc. earns an operating margin of 25.1%, significantly above the Industrials sector average of 4.3%. Operating margins have compressed from 33.0% to 25.1% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 4.6% is modest, trailing the sector median of 8.2%. ROIC of 4.1% represents below-average returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.9% | 35.9% | 45.6% | 42.0% | 60.1% | 59.2% | 16.3% | 33.0% | 38.9% | 26.9% | 2.8% |
| Operating Margin | 25.1% | 25.1% | 36.4% | 33.0% | 52.8% | 52.4% | 5.4% | 22.5% | 29.0% | 16.1% | -11.2% |
| Net Profit Margin | 14.0% | 14.0% | 31.7% | 27.2% | 49.3% | 53.0% | -6.5% | 8.1% | 14.3% | -57.2% | -51.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.6% | 4.6% | 12.0% | 9.9% | 23.8% | 30.5% | -2.7% | 3.3% | 5.9% | -16.4% | -9.2% |
| ROA | 2.7% | 2.7% | 7.1% | 6.0% | 14.7% | 15.9% | -1.2% | 1.5% | 2.6% | -7.7% | -4.5% |
| ROIC | 4.1% | 4.1% | 6.6% | 5.9% | 13.2% | 13.4% | 0.8% | 3.3% | 4.2% | 1.7% | -0.9% |
| ROCE | 5.2% | 5.2% | 8.6% | 7.7% | 17.1% | 17.2% | 1.1% | 4.3% | 5.5% | 2.2% | -1.0% |
SB Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Safe Bulkers, Inc. carries a Debt/EBITDA ratio of 4.2x, which is highly leveraged (29% above the sector average of 3.2x). Net debt stands at $387M ($540M total debt minus $153M cash). Interest coverage of just 2.1x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.65 | 0.65 | 0.65 | 0.64 | 0.54 | 0.56 | 1.31 | 1.23 | 1.19 | 1.24 | 1.01 |
| Debt / EBITDA | 4.18 | 4.18 | 3.16 | 3.43 | 1.77 | 1.68 | 9.35 | 6.34 | 5.52 | 7.55 | 15.65 |
| Net Debt / Equity | — | 0.47 | 0.54 | 0.58 | 0.47 | 0.41 | 1.11 | 1.07 | 1.08 | 1.14 | 0.86 |
| Net Debt / EBITDA | 3.00 | 3.00 | 2.66 | 3.09 | 1.56 | 1.23 | 7.91 | 5.51 | 5.02 | 6.91 | 13.42 |
| Debt / FCF | — | 6.42 | — | — | 10.49 | 2.56 | 39.76 | 27.42 | 13.22 | — | — |
| Interest Coverage | 2.14 | 2.14 | 3.79 | 3.77 | 9.42 | 10.47 | 0.45 | 1.55 | 1.97 | -2.30 | -1.30 |
SB Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Safe Bulkers, Inc.'s current ratio of 2.90x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 2.63x to 2.90x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.90 | 2.90 | 1.91 | 2.63 | 1.73 | 1.40 | 1.29 | 1.57 | 1.85 | 2.14 | 4.67 |
| Quick Ratio | 2.90 | 2.90 | 1.74 | 2.33 | 1.54 | 1.30 | 1.17 | 1.46 | 1.78 | 2.03 | 4.45 |
| Cash Ratio | 2.22 | 2.22 | 1.49 | 1.61 | 1.25 | 1.15 | 1.00 | 1.23 | 1.50 | 1.63 | 3.99 |
| Asset Turnover | — | 0.20 | 0.22 | 0.21 | 0.28 | 0.30 | 0.18 | 0.18 | 0.18 | 0.14 | 0.09 |
| Inventory Turnover | — | — | 11.25 | 9.91 | 8.06 | 15.51 | 13.79 | 14.31 | 28.50 | 25.59 | 20.62 |
| Days Sales Outstanding | — | — | 17.89 | 11.91 | 7.47 | 9.70 | 10.11 | 29.67 | 23.08 | 32.19 | 29.93 |
SB Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Safe Bulkers, Inc. returns 5.8% to shareholders annually — split between a 4.1% dividend yield and 1.6% buyback yield. The payout ratio of 74.2% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 4.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.1% | 5.8% | 7.7% | 6.9% | 6.9% | 2.6% | 8.6% | 6.6% | 6.3% | 3.8% | 14.5% |
| Payout Ratio | 74.2% | 74.2% | 30.3% | 39.7% | 14.0% | 6.4% | — | 71.7% | 41.1% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.5% | 6.2% | 23.2% | 15.5% | 46.7% | 38.2% | — | — | 15.2% | — | — |
| FCF Yield | 8.8% | 12.1% | — | — | 9.9% | 25.2% | 9.7% | 11.0% | 21.9% | — | — |
| Buyback Yield | 1.6% | 2.2% | 7.5% | 5.9% | 13.2% | 4.1% | 4.6% | 2.4% | 5.6% | 0.0% | 0.1% |
| Total Shareholder Yield | 5.8% | 8.0% | 15.2% | 12.7% | 20.1% | 6.7% | 13.2% | 9.1% | 11.9% | 3.8% | 14.6% |
| Shares Outstanding | — | $103M | $108M | $114M | $121M | $114M | $103M | $102M | $102M | $101M | $85M |
Peer Comparison
Compare SB with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SBYou | $682M | 22.3 | 8.3 | 11.3 | 35.9% | 25.1% | 4.6% | 4.1% | 4.2 |
 SBLK | $3B | 35.4 | 11.4 | 14.0 | 22.5% | 13.5% | 3.4% | 3.2% | 3.5 |
 GNK | $1B | -236.8 | 13.6 | — | 13.4% | 2.7% | -0.5% | 0.7% | 2.3 |
 NMM | $2B | 7.3 | 5.4 | — | 64.5% | 29.1% | 8.9% | 6.1% | 3.2 |
 SFL | $1B | -54.0 | 10.1 | 6.5 | 58.1% | 19.0% | -2.5% | 2.8% | 6.8 |
 CMRE | $2B | 5.3 | 4.7 | 3.9 | 57.3% | 51.7% | 15.4% | 9.3% | 2.5 |
 DAC | $2B | 4.7 | 3.4 | 7.1 | 80.0% | 47.8% | 13.7% | 9.8% | 1.6 |
 GSL | $1B | 3.3 | 3.3 | 3.8 | 53.6% | 50.7% | 25.5% | 14.0% | 1.3 |
 MATX | $6B | 13.8 | 8.0 | 37.8 | 22.8% | 14.0% | 16.4% | 10.8% | 0.9 |
 SHIP | $309M | 14.5 | 6.9 | 18.1 | 39.6% | 26.0% | 7.7% | 6.1% | 3.8 |
 STNG | $4B | 11.5 | 8.2 | 8.5 | 46.2% | 33.0% | 11.4% | 7.2% | 1.3 |
| Industrials Median | — | 25.5 | 13.9 | 20.1 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 20 years · Updated daily
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SB — Frequently Asked Questions
Quick answers to the most common questions about buying SB stock.
What is Safe Bulkers, Inc.'s P/E ratio?
Safe Bulkers, Inc.'s current P/E ratio is 22.3x. The historical average is 10.1x. This places it at the 92th percentile of its historical range.
What is Safe Bulkers, Inc.'s EV/EBITDA?
Safe Bulkers, Inc.'s current EV/EBITDA is 8.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.8x.
What is Safe Bulkers, Inc.'s ROE?
Safe Bulkers, Inc.'s return on equity (ROE) is 4.6%. The historical average is 21.3%.
Is SB stock overvalued?
Based on historical data, Safe Bulkers, Inc. is trading at a P/E of 22.3x. This is at the 92th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Safe Bulkers, Inc.'s dividend yield?
Safe Bulkers, Inc.'s current dividend yield is 4.14% with a payout ratio of 74.2%.
What are Safe Bulkers, Inc.'s profit margins?
Safe Bulkers, Inc. has 35.9% gross margin and 25.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Safe Bulkers, Inc. have?
Safe Bulkers, Inc.'s Debt/EBITDA ratio is 4.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.