Star Bulk Carriers Corp. (SBLK) 10-Year Financial Performance & Capital Metrics

SBLK • • Industrial / General

IndustrialsMarine ShippingDry Bulk ShippingDry Bulk Operators

AboutStar Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of December 31, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 24 Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels. The company also provides vessel management services. Star Bulk Carriers Corp. was incorporated in 2006 and is based in Marousi, Greece.Show more

Revenue $1.27B +33.3%
EBITDA $547M +45.1%
Net Income $305M +75.5%
EPS (Diluted) 2.80 +60.0%
Gross Margin 46.04% +10.7%
EBITDA Margin 43.23% +8.9%
Operating Margin 30.27% +20.5%
Net Margin 24.07% +31.7%
ROE 14.71% +55.9%
ROIC 9.25% +47.9%
Debt/Equity 0.59 -23.0%
Interest Coverage 3.93 +44.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FCF machine: 32.6% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 17.3%
✓Healthy 5Y average net margin of 26.2%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y23.99%

5Y9.03%

3Y-3.94%

TTM-13.87%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-23.5%

TTM-79.64%

EPS CAGR

10Y-

5Y-

3Y-25.27%

TTM-82.29%

ROCE

10Y Avg4.76%

5Y Avg12.93%

3Y Avg12.87%

Latest12.05%

Peer Comparison

Dry Bulk Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GLBSGlobus Maritime Limited	35.4M	1.72	82.30	11.74%	-16.48%	-3.41%		0.78
DSXDiana Shipping Inc.	241.98M	2.09	35.54	-12.93%	11.18%	4.89%	24.5%	1.26
HSHPHimalaya Shipping Ltd.	421.25M	9.03	18.81	236.4%	4.39%	3.28%		4.61
GNKGenco Shipping & Trading Limited	859.67M	19.88	11.36	10.21%	-2.14%	-0.8%	8.16%	0.10
PANLPangaea Logistics Solutions, Ltd.	455.47M	7.01	11.13	7.46%	2.67%	3.42%		0.84
SBLKStar Bulk Carriers Corp.	2.38B	20.90	7.46	33.31%	5.85%	2.54%	17.33%	0.59
SBSafe Bulkers, Inc.	533.13M	5.21	6.28	8.17%	16.78%	5.58%		0.65
SHIPSeanergy Maritime Holdings Corp.	199.32M	9.44	4.47	51.91%	10.23%	5.86%	0.47%	0.98

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	234.29M	222.11M	331.98M	651.56M	821.37M	693.24M	1.43B	1.44B	949.27M	1.27B
Revenue Growth %	0.59%	-0.05%	0.49%	0.96%	0.26%	-0.16%	1.06%	0.01%	-0.34%	0.33%
Cost of Goods Sold+	206.37M	177.59M	180.68M	362.15M	582.69M	450.48M	497.18M	616.45M	554.52M	682.82M
COGS % of Revenue	0.88%	0.8%	0.54%	0.56%	0.71%	0.65%	0.35%	0.43%	0.58%	0.54%
Gross Profit+	27.92M	44.52M	151.3M	289.41M	238.67M	242.76M	930.25M	820.71M	394.75M	582.64M
Gross Margin %	0.12%	0.2%	0.46%	0.44%	0.29%	0.35%	0.65%	0.57%	0.42%	0.46%
Gross Profit Growth %	-0.42%	0.59%	2.4%	0.91%	-0.18%	0.02%	2.83%	-0.12%	-0.52%	0.48%
Operating Expenses+	453.49M	153.77M	112.46M	157.47M	164.97M	158.78M	190.84M	213.11M	156.29M	199.64M
OpEx % of Revenue	1.94%	0.69%	0.34%	0.24%	0.2%	0.23%	0.13%	0.15%	0.16%	0.16%
Selling, General & Admin	23.62M	24.3M	30.95M	34.69M	36.43M	32.25M	40.13M	57.5M	54.71M	71.09M
SG&A % of Revenue	0.1%	0.11%	0.09%	0.05%	0.04%	0.05%	0.03%	0.04%	0.06%	0.06%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	429.87M	129.47M	81.5M	122.78M	128.55M	126.52M	150.71M	155.61M	101.58M	128.55M
Operating Income+	-425.57M	-109.25M	38.84M	131.94M	73.7M	83.99M	739.4M	607.6M	238.46M	383M
Operating Margin %	-1.82%	-0.49%	0.12%	0.2%	0.09%	0.12%	0.52%	0.42%	0.25%	0.3%
Operating Income Growth %	-296.19%	0.74%	1.36%	2.4%	-0.44%	0.14%	7.8%	-0.18%	-0.61%	0.61%
EBITDA+	-333.96M	-27.07M	121.47M	232.97M	195.97M	225.1M	891.86M	764.33M	376.89M	547.05M
EBITDA Margin %	-1.43%	-0.12%	0.37%	0.36%	0.24%	0.32%	0.62%	0.53%	0.4%	0.43%
EBITDA Growth %	-8.98%	0.92%	5.49%	0.92%	-0.16%	0.15%	2.96%	-0.14%	-0.51%	0.45%
D&A (Non-Cash Add-back)	91.61M	82.19M	82.62M	101.03M	122.27M	141.11M	152.45M	156.73M	138.43M	164.06M
EBIT	-81.45M	-64.66M	34.95M	150.17M	78.19M	67.83M	734.74M	609.05M	196.41M	340.8M
Net Interest Income+	-28.57M	-44.14M	-46.61M	-71.85M	-86.32M	-69.29M	-55.72M	-45.53M	-56.09M	-75.45M
Interest Income	1.09M	876K	3M	1.87M	1.3M	267K	315K	17.09M	31.77M	21.94M
Interest Expense	29.66M	45.01M	49.61M	73.72M	87.62M	69.56M	56.04M	62.62M	87.86M	97.39M
Other Income/Expense	-32.6M	-44.71M	-48.38M	-73.48M	-89.79M	-74.18M	-58.86M	-41.35M	-64.72M	-78.46M
Pretax Income+	-458.18M	-153.96M	-9.54M	58.46M	-16.09M	9.81M	680.55M	566.24M	173.74M	304.54M
Pretax Margin %	-1.96%	-0.69%	-0.03%	0.09%	-0.02%	0.01%	0.48%	0.39%	0.18%	0.24%
Income Tax+	0	267K	236K	61K	109K	152K	16K	244K	183K	-116K
Effective Tax Rate %	1%	1%	1.02%	1%	1.01%	0.98%	1%	1%	1%	1%
Net Income+	-458.18M	-154.23M	-9.77M	58.4M	-16.2M	9.66M	680.53M	566M	173.56M	304.65M
Net Margin %	-1.96%	-0.69%	-0.03%	0.09%	-0.02%	0.01%	0.48%	0.39%	0.18%	0.24%
Net Income Growth %	-38.08%	0.66%	0.94%	6.98%	-1.28%	1.6%	69.45%	-0.17%	-0.69%	0.76%
Net Income (Continuing)	-458.18M	-154.23M	-9.77M	58.4M	-16.2M	9.66M	680.53M	566M	173.56M	304.65M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-11.71	-3.24	-0.16	0.76	-0.17	0.10	6.71	5.52	1.75	2.80
EPS Growth %	-10.71%	0.72%	0.95%	5.75%	-1.22%	1.59%	66.1%	-0.18%	-0.68%	0.6%
EPS (Basic)	-11.71	-3.24	-0.16	0.76	-0.17	0.10	6.73	5.54	1.76	2.85
Diluted Shares Outstanding	39.12M	47.57M	63.03M	77.33M	93.74M	96.28M	101.48M	102.54M	98.93M	108.7M
Basic Shares Outstanding	39.12M	47.57M	61.07M	77.06M	93.74M	96.6M	101.42M	102.54M	99.17M	108.81M
Dividend Payout Ratio	-	-	-	-	-	0.5%	0.34%	1.18%	0.91%	0.91%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	252.06M	228.47M	312.63M	298.84M	266.04M	307.41M	682.92M	502.09M	450.12M	658.97M
Cash & Short-Term Investments	211.82M	181.76M	257.91M	204.92M	117.82M	190.51M	450.29M	284.32M	259.73M	425.07M
Cash Only	211.82M	181.76M	257.91M	204.92M	117.82M	190.51M	450.29M	284.32M	227.48M	425.07M
Short-Term Investments	0	0	0	0	0	0	0	0	2.02M	0
Accounts Receivable	20.7M	20.57M	22.97M	46.51M	78.02M	56.62M	119.38M	84.44M	87.98M	98.33M
Days Sales Outstanding	32.25	33.8	25.25	26.06	34.67	29.81	30.53	21.45	33.83	28.36
Inventory	14.25M	14.53M	19.34M	27.44M	51.15M	47.29M	75.08M	67.16M	62.36M	78.59M
Days Inventory Outstanding	25.2	29.87	39.08	27.65	32.04	38.32	55.12	39.77	41.05	42.01
Other Current Assets	10.26M	13.96M	12.57M	13.46M	1.31M	21.13M	9.52M	81.14M	59.35M	57.14M
Total Non-Current Assets+	1.91B	1.78B	1.83B	2.72B	2.97B	2.88B	3.07B	2.93B	2.58B	3.43B
Property, Plant & Equipment	1.76B	1.71B	1.78B	2.66B	2.97B	2.88B	3.06B	2.88B	2.57B	3.42B
Fixed Asset Turnover	0.13x	0.13x	0.19x	0.25x	0.28x	0.24x	0.47x	0.50x	0.37x	0.37x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	254K	0	0	0	0	0	0	0	0	0
Long-Term Investments	844K	970K	1.06M	1.11M	1.16M	1.32M	1.57M	1.68M	4.27M	1.73M
Other Non-Current Assets	26.27M	75.06M	56.99M	66.08M	4.72M	5.94M	8.93M	48.3M	6.3M	5.28M
Total Assets+	2.16B	2.01B	2.15B	3.02B	3.24B	3.19B	3.75B	3.43B	3.03B	4.09B
Asset Turnover	0.11x	0.11x	0.15x	0.22x	0.25x	0.22x	0.38x	0.42x	0.31x	0.31x
Asset Growth %	0.05%	-0.07%	0.07%	0.41%	0.07%	-0.01%	0.18%	-0.09%	-0.12%	0.35%
Total Current Liabilities+	166.95M	28.12M	219.27M	222.72M	310.93M	266.43M	290.8M	282.56M	359.36M	399.81M
Accounts Payable	9.44M	5.2M	9.94M	20.96M	42.78M	32.85M	21.84M	32.14M	39.32M	51.59M
Days Payables Outstanding	16.69	10.69	20.09	21.12	26.8	26.62	16.03	19.03	25.88	27.58
Short-Term Debt	127.14M	0	173.96M	101.01M	150.35M	144.9M	156.7M	166.59M	249.13M	221.15M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	5.93M	2.55M	625K	1.8M	1.72M	30.56M	35.38M	16.19M	5.78M	2M
Current Ratio	1.51x	8.12x	1.43x	1.34x	0.86x	1.15x	2.35x	1.78x	1.25x	1.65x
Quick Ratio	1.42x	7.61x	1.34x	1.22x	0.69x	0.98x	2.09x	1.54x	1.08x	1.45x
Cash Conversion Cycle	40.76	52.98	44.24	32.58	39.92	41.51	69.61	42.18	49	42.79
Total Non-Current Liabilities+	1.03B	946.35M	838.44M	1.28B	1.38B	1.38B	1.38B	1.13B	1.01B	1.2B
Long-Term Debt	771.08M	793.27M	623.14M	734.23M	1.01B	990.2M	932.55M	928M	970.04M	1.04B
Capital Lease Obligations	75.03M	152.61M	214.74M	540.92M	371.05M	383.3M	450.3M	202.9M	37.78M	168.81M
Deferred Tax Liabilities	-126K	-51K	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	305K	417K	560K	4.22M	3.24M	2.33M	1.06M	831K	1M	850K
Total Liabilities	1.03B	974.47M	1.06B	1.5B	1.69B	1.64B	1.67B	1.41B	1.37B	1.6B
Total Debt+	991.26M	951.32M	1.03B	1.44B	1.58B	1.56B	1.59B	1.29B	1.26B	1.46B
Net Debt	779.43M	769.57M	769.27M	1.24B	1.47B	1.37B	1.14B	1B	1.04B	1.03B
Debt / Equity	0.87x	0.92x	0.94x	0.95x	1.03x	1.01x	0.76x	0.64x	0.76x	0.59x
Debt / EBITDA	-	-	8.46x	6.19x	8.08x	6.93x	1.78x	1.68x	3.36x	2.66x
Net Debt / EBITDA	-	-	6.33x	5.31x	7.48x	6.08x	1.28x	1.31x	2.75x	1.88x
Interest Coverage	-14.35x	-2.43x	0.78x	1.79x	0.84x	1.21x	13.20x	9.70x	2.71x	3.93x
Total Equity+	1.14B	1.04B	1.09B	1.52B	1.54B	1.55B	2.08B	2.02B	1.66B	2.48B
Equity Growth %	-0.02%	-0.09%	0.05%	0.4%	0.02%	0%	0.34%	-0.03%	-0.18%	0.49%
Book Value per Share	29.02	21.80	17.26	19.66	16.47	16.09	20.50	19.69	16.78	22.83
Total Shareholders' Equity	1.14B	1.04B	1.09B	1.52B	1.54B	1.55B	2.08B	2.02B	1.66B	2.48B
Common Stock	2.19M	566K	642K	926K	961K	971K	1.02M	1.03M	840K	1.14M
Retained Earnings	-872.3M	-1.03B	-1.04B	-980.16M	-1B	-996.31M	-546.26M	-648.72M	-633.22M	-605.57M
Treasury Stock	0	0	0	-3.15M	-93K	-93K	0	0	0	0
Accumulated OCI	-1.22M	-294K	605K	0	0	-3.99M	6.93M	20.96M	5.39M	2.3M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-14.58M	-33.45M	80.97M	169.01M	88.53M	170.55M	767.07M	769.9M	335.78M	467.38M
Operating CF Margin %	-0.06%	-0.15%	0.24%	0.26%	0.11%	0.25%	0.54%	0.54%	0.35%	0.37%
Operating CF Growth %	-2.14%	-1.29%	3.42%	1.09%	-0.48%	0.93%	3.5%	0%	-0.56%	0.39%
Net Income	-458.18M	-154.23M	-9.77M	58.4M	-16.2M	9.66M	680.53M	566M	173.56M	304.65M
Depreciation & Amortization	82.07M	81.94M	82.62M	102.85M	124.28M	142.29M	152.64M	167.37M	138.43M	164.06M
Stock-Based Compensation	2.68M	4.17M	9.27M	8.07M	7.94M	4.62M	10.34M	28.48M	20.88M	0
Deferred Taxes	343.21M	267K	-3.29M	19.34M	14.23M	3.97M	2.26M	0	0	0
Other Non-Cash Items	14.4M	44.39M	2.3M	1.23M	1.34M	4.75M	4.91M	16.55M	-1.93M	-1.69M
Working Capital Changes	1.24M	-9.98M	-154K	-20.89M	-43.07M	5.26M	-83.61M	-8.5M	4.85M	354K
Change in Receivables	13.88M	-1.68M	-5.95M	-22.27M	-20.38M	20.32M	-43.6M	-3.65M	7.91M	22.32M
Change in Inventory	121K	-184K	-4.81M	-8.09M	-23.72M	3.86M	-27.78M	-9.41M	-5.85M	1.93M
Change in Payables	-5.28M	-4.24M	4.71M	10.29M	3.63M	-3.05M	-8.04M	11.56M	7.31M	-6.62M
Cash from Investing+	-397.53M	-13.22M	-126.85M	-325.33M	-279.84M	-66.33M	-121.26M	-20.87M	235.52M	356.18M
Capital Expenditures	-473.92M	-396.15M	-143.68M	-328.63M	-347.14M	-72.06M	-130.15M	-25.4M	-18.09M	-55.09M
CapEx % of Revenue	2.02%	1.78%	0.43%	0.5%	0.42%	0.1%	0.09%	0.02%	0.02%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	480.38M	398.94M	16.83M	3.31M	10.67M	5.72M	8.88M	4.53M	2.64M	108.04M
Cash from Financing+	534.17M	20.37M	122.03M	96.69M	103.7M	-34.95M	-368.07M	-935.95M	-595.89M	-644.42M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-4.8M	-4.8M	-230.24M	-668.7M	-158.05M	-277.01M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-14.07M	-785K	47.52M	-13.1M	-15.37M	-9.03M	-5.02M	13.84M	-6.59M	-96K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-488.5M	-429.6M	-62.71M	-159.63M	-258.62M	98.49M	636.92M	744.5M	317.69M	412.28M
FCF Margin %	-2.09%	-1.93%	-0.19%	-0.24%	-0.31%	0.14%	0.45%	0.52%	0.33%	0.33%
FCF Growth %	0.04%	0.12%	0.85%	-1.55%	-0.62%	1.38%	5.47%	0.17%	-0.57%	0.3%
FCF per Share	-12.49	-9.03	-0.99	-2.06	-2.76	1.02	6.28	7.26	3.21	3.79
FCF Conversion (FCF/Net Income)	0.03x	0.22x	-8.29x	2.89x	-5.46x	17.66x	1.13x	1.36x	1.93x	1.53x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-40.02%	-14.2%	-0.92%	4.48%	-1.06%	0.62%	37.5%	27.61%	9.43%	14.71%
Return on Invested Capital (ROIC)	-16.62%	-4.4%	1.59%	4.29%	1.92%	2.13%	18.07%	14.61%	6.26%	9.25%
Gross Margin	11.92%	20.04%	45.58%	44.42%	29.06%	35.02%	65.17%	57.11%	41.58%	46.04%
Net Margin	-195.56%	-69.44%	-2.94%	8.96%	-1.97%	1.39%	47.68%	39.38%	18.28%	24.07%
Debt / Equity	0.87x	0.92x	0.94x	0.95x	1.03x	1.01x	0.76x	0.64x	0.76x	0.59x
Interest Coverage	-14.35x	-2.43x	0.78x	1.79x	0.84x	1.21x	13.20x	9.70x	2.71x	3.93x
FCF Conversion	0.03x	0.22x	-8.29x	2.89x	-5.46x	17.66x	1.13x	1.36x	1.93x	1.53x
Revenue Growth	58.96%	-5.2%	49.47%	96.27%	26.06%	-15.6%	105.91%	0.68%	-33.95%	33.31%

Frequently Asked Questions

Valuation & Price

Star Bulk Carriers Corp. (SBLK) has a price-to-earnings (P/E) ratio of 7.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Star Bulk Carriers Corp. (SBLK) reported $1.05B in revenue for fiscal year 2024. This represents a 881% increase from $107.1M in 2011.

Star Bulk Carriers Corp. (SBLK) grew revenue by 33.3% over the past year. This is strong growth.

Yes, Star Bulk Carriers Corp. (SBLK) is profitable, generating $61.5M in net income for fiscal year 2024 (24.1% net margin).

Dividend & Returns

Yes, Star Bulk Carriers Corp. (SBLK) pays a dividend with a yield of 12.19%. This makes it attractive for income-focused investors.

Star Bulk Carriers Corp. (SBLK) has a return on equity (ROE) of 14.7%. This is reasonable for most industries.

Star Bulk Carriers Corp. (SBLK) generated $241.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...

Star Bulk Carriers Corp. (SBLK) 10-Year Financial Performance & Capital Metrics

SBLK • • Industrial / General

IndustrialsMarine ShippingDry Bulk ShippingDry Bulk Operators

Revenue $1.27B +33.3%
EBITDA $547M +45.1%
Net Income $305M +75.5%
EPS (Diluted) 2.80 +60.0%
Gross Margin 46.04% +10.7%
EBITDA Margin 43.23% +8.9%
Operating Margin 30.27% +20.5%
Net Margin 24.07% +31.7%
ROE 14.71% +55.9%
ROIC 9.25% +47.9%
Debt/Equity 0.59 -23.0%
Interest Coverage 3.93 +44.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FCF machine: 32.6% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 17.3%
✓Healthy 5Y average net margin of 26.2%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y23.99%

5Y9.03%

3Y-3.94%

TTM-13.87%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-23.5%

TTM-79.64%

EPS CAGR

10Y-

5Y-

3Y-25.27%

TTM-82.29%

ROCE

10Y Avg4.76%

5Y Avg12.93%

3Y Avg12.87%

Latest12.05%

Peer Comparison

Dry Bulk Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GLBSGlobus Maritime Limited	35.4M	1.72	82.30	11.74%	-16.48%	-3.41%		0.78
DSXDiana Shipping Inc.	241.98M	2.09	35.54	-12.93%	11.18%	4.89%	24.5%	1.26
HSHPHimalaya Shipping Ltd.	421.25M	9.03	18.81	236.4%	4.39%	3.28%		4.61
GNKGenco Shipping & Trading Limited	859.67M	19.88	11.36	10.21%	-2.14%	-0.8%	8.16%	0.10
PANLPangaea Logistics Solutions, Ltd.	455.47M	7.01	11.13	7.46%	2.67%	3.42%		0.84
SBLKStar Bulk Carriers Corp.	2.38B	20.90	7.46	33.31%	5.85%	2.54%	17.33%	0.59
SBSafe Bulkers, Inc.	533.13M	5.21	6.28	8.17%	16.78%	5.58%		0.65
SHIPSeanergy Maritime Holdings Corp.	199.32M	9.44	4.47	51.91%	10.23%	5.86%	0.47%	0.98

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	234.29M	222.11M	331.98M	651.56M	821.37M	693.24M	1.43B	1.44B	949.27M	1.27B
Revenue Growth %	0.59%	-0.05%	0.49%	0.96%	0.26%	-0.16%	1.06%	0.01%	-0.34%	0.33%
Cost of Goods Sold+	206.37M	177.59M	180.68M	362.15M	582.69M	450.48M	497.18M	616.45M	554.52M	682.82M
COGS % of Revenue	0.88%	0.8%	0.54%	0.56%	0.71%	0.65%	0.35%	0.43%	0.58%	0.54%
Gross Profit+	27.92M	44.52M	151.3M	289.41M	238.67M	242.76M	930.25M	820.71M	394.75M	582.64M
Gross Margin %	0.12%	0.2%	0.46%	0.44%	0.29%	0.35%	0.65%	0.57%	0.42%	0.46%
Gross Profit Growth %	-0.42%	0.59%	2.4%	0.91%	-0.18%	0.02%	2.83%	-0.12%	-0.52%	0.48%
Operating Expenses+	453.49M	153.77M	112.46M	157.47M	164.97M	158.78M	190.84M	213.11M	156.29M	199.64M
OpEx % of Revenue	1.94%	0.69%	0.34%	0.24%	0.2%	0.23%	0.13%	0.15%	0.16%	0.16%
Selling, General & Admin	23.62M	24.3M	30.95M	34.69M	36.43M	32.25M	40.13M	57.5M	54.71M	71.09M
SG&A % of Revenue	0.1%	0.11%	0.09%	0.05%	0.04%	0.05%	0.03%	0.04%	0.06%	0.06%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	429.87M	129.47M	81.5M	122.78M	128.55M	126.52M	150.71M	155.61M	101.58M	128.55M
Operating Income+	-425.57M	-109.25M	38.84M	131.94M	73.7M	83.99M	739.4M	607.6M	238.46M	383M
Operating Margin %	-1.82%	-0.49%	0.12%	0.2%	0.09%	0.12%	0.52%	0.42%	0.25%	0.3%
Operating Income Growth %	-296.19%	0.74%	1.36%	2.4%	-0.44%	0.14%	7.8%	-0.18%	-0.61%	0.61%
EBITDA+	-333.96M	-27.07M	121.47M	232.97M	195.97M	225.1M	891.86M	764.33M	376.89M	547.05M
EBITDA Margin %	-1.43%	-0.12%	0.37%	0.36%	0.24%	0.32%	0.62%	0.53%	0.4%	0.43%
EBITDA Growth %	-8.98%	0.92%	5.49%	0.92%	-0.16%	0.15%	2.96%	-0.14%	-0.51%	0.45%
D&A (Non-Cash Add-back)	91.61M	82.19M	82.62M	101.03M	122.27M	141.11M	152.45M	156.73M	138.43M	164.06M
EBIT	-81.45M	-64.66M	34.95M	150.17M	78.19M	67.83M	734.74M	609.05M	196.41M	340.8M
Net Interest Income+	-28.57M	-44.14M	-46.61M	-71.85M	-86.32M	-69.29M	-55.72M	-45.53M	-56.09M	-75.45M
Interest Income	1.09M	876K	3M	1.87M	1.3M	267K	315K	17.09M	31.77M	21.94M
Interest Expense	29.66M	45.01M	49.61M	73.72M	87.62M	69.56M	56.04M	62.62M	87.86M	97.39M
Other Income/Expense	-32.6M	-44.71M	-48.38M	-73.48M	-89.79M	-74.18M	-58.86M	-41.35M	-64.72M	-78.46M
Pretax Income+	-458.18M	-153.96M	-9.54M	58.46M	-16.09M	9.81M	680.55M	566.24M	173.74M	304.54M
Pretax Margin %	-1.96%	-0.69%	-0.03%	0.09%	-0.02%	0.01%	0.48%	0.39%	0.18%	0.24%
Income Tax+	0	267K	236K	61K	109K	152K	16K	244K	183K	-116K
Effective Tax Rate %	1%	1%	1.02%	1%	1.01%	0.98%	1%	1%	1%	1%
Net Income+	-458.18M	-154.23M	-9.77M	58.4M	-16.2M	9.66M	680.53M	566M	173.56M	304.65M
Net Margin %	-1.96%	-0.69%	-0.03%	0.09%	-0.02%	0.01%	0.48%	0.39%	0.18%	0.24%
Net Income Growth %	-38.08%	0.66%	0.94%	6.98%	-1.28%	1.6%	69.45%	-0.17%	-0.69%	0.76%
Net Income (Continuing)	-458.18M	-154.23M	-9.77M	58.4M	-16.2M	9.66M	680.53M	566M	173.56M	304.65M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-11.71	-3.24	-0.16	0.76	-0.17	0.10	6.71	5.52	1.75	2.80
EPS Growth %	-10.71%	0.72%	0.95%	5.75%	-1.22%	1.59%	66.1%	-0.18%	-0.68%	0.6%
EPS (Basic)	-11.71	-3.24	-0.16	0.76	-0.17	0.10	6.73	5.54	1.76	2.85
Diluted Shares Outstanding	39.12M	47.57M	63.03M	77.33M	93.74M	96.28M	101.48M	102.54M	98.93M	108.7M
Basic Shares Outstanding	39.12M	47.57M	61.07M	77.06M	93.74M	96.6M	101.42M	102.54M	99.17M	108.81M
Dividend Payout Ratio	-	-	-	-	-	0.5%	0.34%	1.18%	0.91%	0.91%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	252.06M	228.47M	312.63M	298.84M	266.04M	307.41M	682.92M	502.09M	450.12M	658.97M
Cash & Short-Term Investments	211.82M	181.76M	257.91M	204.92M	117.82M	190.51M	450.29M	284.32M	259.73M	425.07M
Cash Only	211.82M	181.76M	257.91M	204.92M	117.82M	190.51M	450.29M	284.32M	227.48M	425.07M
Short-Term Investments	0	0	0	0	0	0	0	0	2.02M	0
Accounts Receivable	20.7M	20.57M	22.97M	46.51M	78.02M	56.62M	119.38M	84.44M	87.98M	98.33M
Days Sales Outstanding	32.25	33.8	25.25	26.06	34.67	29.81	30.53	21.45	33.83	28.36
Inventory	14.25M	14.53M	19.34M	27.44M	51.15M	47.29M	75.08M	67.16M	62.36M	78.59M
Days Inventory Outstanding	25.2	29.87	39.08	27.65	32.04	38.32	55.12	39.77	41.05	42.01
Other Current Assets	10.26M	13.96M	12.57M	13.46M	1.31M	21.13M	9.52M	81.14M	59.35M	57.14M
Total Non-Current Assets+	1.91B	1.78B	1.83B	2.72B	2.97B	2.88B	3.07B	2.93B	2.58B	3.43B
Property, Plant & Equipment	1.76B	1.71B	1.78B	2.66B	2.97B	2.88B	3.06B	2.88B	2.57B	3.42B
Fixed Asset Turnover	0.13x	0.13x	0.19x	0.25x	0.28x	0.24x	0.47x	0.50x	0.37x	0.37x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	254K	0	0	0	0	0	0	0	0	0
Long-Term Investments	844K	970K	1.06M	1.11M	1.16M	1.32M	1.57M	1.68M	4.27M	1.73M
Other Non-Current Assets	26.27M	75.06M	56.99M	66.08M	4.72M	5.94M	8.93M	48.3M	6.3M	5.28M
Total Assets+	2.16B	2.01B	2.15B	3.02B	3.24B	3.19B	3.75B	3.43B	3.03B	4.09B
Asset Turnover	0.11x	0.11x	0.15x	0.22x	0.25x	0.22x	0.38x	0.42x	0.31x	0.31x
Asset Growth %	0.05%	-0.07%	0.07%	0.41%	0.07%	-0.01%	0.18%	-0.09%	-0.12%	0.35%
Total Current Liabilities+	166.95M	28.12M	219.27M	222.72M	310.93M	266.43M	290.8M	282.56M	359.36M	399.81M
Accounts Payable	9.44M	5.2M	9.94M	20.96M	42.78M	32.85M	21.84M	32.14M	39.32M	51.59M
Days Payables Outstanding	16.69	10.69	20.09	21.12	26.8	26.62	16.03	19.03	25.88	27.58
Short-Term Debt	127.14M	0	173.96M	101.01M	150.35M	144.9M	156.7M	166.59M	249.13M	221.15M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	5.93M	2.55M	625K	1.8M	1.72M	30.56M	35.38M	16.19M	5.78M	2M
Current Ratio	1.51x	8.12x	1.43x	1.34x	0.86x	1.15x	2.35x	1.78x	1.25x	1.65x
Quick Ratio	1.42x	7.61x	1.34x	1.22x	0.69x	0.98x	2.09x	1.54x	1.08x	1.45x
Cash Conversion Cycle	40.76	52.98	44.24	32.58	39.92	41.51	69.61	42.18	49	42.79
Total Non-Current Liabilities+	1.03B	946.35M	838.44M	1.28B	1.38B	1.38B	1.38B	1.13B	1.01B	1.2B
Long-Term Debt	771.08M	793.27M	623.14M	734.23M	1.01B	990.2M	932.55M	928M	970.04M	1.04B
Capital Lease Obligations	75.03M	152.61M	214.74M	540.92M	371.05M	383.3M	450.3M	202.9M	37.78M	168.81M
Deferred Tax Liabilities	-126K	-51K	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	305K	417K	560K	4.22M	3.24M	2.33M	1.06M	831K	1M	850K
Total Liabilities	1.03B	974.47M	1.06B	1.5B	1.69B	1.64B	1.67B	1.41B	1.37B	1.6B
Total Debt+	991.26M	951.32M	1.03B	1.44B	1.58B	1.56B	1.59B	1.29B	1.26B	1.46B
Net Debt	779.43M	769.57M	769.27M	1.24B	1.47B	1.37B	1.14B	1B	1.04B	1.03B
Debt / Equity	0.87x	0.92x	0.94x	0.95x	1.03x	1.01x	0.76x	0.64x	0.76x	0.59x
Debt / EBITDA	-	-	8.46x	6.19x	8.08x	6.93x	1.78x	1.68x	3.36x	2.66x
Net Debt / EBITDA	-	-	6.33x	5.31x	7.48x	6.08x	1.28x	1.31x	2.75x	1.88x
Interest Coverage	-14.35x	-2.43x	0.78x	1.79x	0.84x	1.21x	13.20x	9.70x	2.71x	3.93x
Total Equity+	1.14B	1.04B	1.09B	1.52B	1.54B	1.55B	2.08B	2.02B	1.66B	2.48B
Equity Growth %	-0.02%	-0.09%	0.05%	0.4%	0.02%	0%	0.34%	-0.03%	-0.18%	0.49%
Book Value per Share	29.02	21.80	17.26	19.66	16.47	16.09	20.50	19.69	16.78	22.83
Total Shareholders' Equity	1.14B	1.04B	1.09B	1.52B	1.54B	1.55B	2.08B	2.02B	1.66B	2.48B
Common Stock	2.19M	566K	642K	926K	961K	971K	1.02M	1.03M	840K	1.14M
Retained Earnings	-872.3M	-1.03B	-1.04B	-980.16M	-1B	-996.31M	-546.26M	-648.72M	-633.22M	-605.57M
Treasury Stock	0	0	0	-3.15M	-93K	-93K	0	0	0	0
Accumulated OCI	-1.22M	-294K	605K	0	0	-3.99M	6.93M	20.96M	5.39M	2.3M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-14.58M	-33.45M	80.97M	169.01M	88.53M	170.55M	767.07M	769.9M	335.78M	467.38M
Operating CF Margin %	-0.06%	-0.15%	0.24%	0.26%	0.11%	0.25%	0.54%	0.54%	0.35%	0.37%
Operating CF Growth %	-2.14%	-1.29%	3.42%	1.09%	-0.48%	0.93%	3.5%	0%	-0.56%	0.39%
Net Income	-458.18M	-154.23M	-9.77M	58.4M	-16.2M	9.66M	680.53M	566M	173.56M	304.65M
Depreciation & Amortization	82.07M	81.94M	82.62M	102.85M	124.28M	142.29M	152.64M	167.37M	138.43M	164.06M
Stock-Based Compensation	2.68M	4.17M	9.27M	8.07M	7.94M	4.62M	10.34M	28.48M	20.88M	0
Deferred Taxes	343.21M	267K	-3.29M	19.34M	14.23M	3.97M	2.26M	0	0	0
Other Non-Cash Items	14.4M	44.39M	2.3M	1.23M	1.34M	4.75M	4.91M	16.55M	-1.93M	-1.69M
Working Capital Changes	1.24M	-9.98M	-154K	-20.89M	-43.07M	5.26M	-83.61M	-8.5M	4.85M	354K
Change in Receivables	13.88M	-1.68M	-5.95M	-22.27M	-20.38M	20.32M	-43.6M	-3.65M	7.91M	22.32M
Change in Inventory	121K	-184K	-4.81M	-8.09M	-23.72M	3.86M	-27.78M	-9.41M	-5.85M	1.93M
Change in Payables	-5.28M	-4.24M	4.71M	10.29M	3.63M	-3.05M	-8.04M	11.56M	7.31M	-6.62M
Cash from Investing+	-397.53M	-13.22M	-126.85M	-325.33M	-279.84M	-66.33M	-121.26M	-20.87M	235.52M	356.18M
Capital Expenditures	-473.92M	-396.15M	-143.68M	-328.63M	-347.14M	-72.06M	-130.15M	-25.4M	-18.09M	-55.09M
CapEx % of Revenue	2.02%	1.78%	0.43%	0.5%	0.42%	0.1%	0.09%	0.02%	0.02%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	480.38M	398.94M	16.83M	3.31M	10.67M	5.72M	8.88M	4.53M	2.64M	108.04M
Cash from Financing+	534.17M	20.37M	122.03M	96.69M	103.7M	-34.95M	-368.07M	-935.95M	-595.89M	-644.42M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-4.8M	-4.8M	-230.24M	-668.7M	-158.05M	-277.01M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-14.07M	-785K	47.52M	-13.1M	-15.37M	-9.03M	-5.02M	13.84M	-6.59M	-96K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-488.5M	-429.6M	-62.71M	-159.63M	-258.62M	98.49M	636.92M	744.5M	317.69M	412.28M
FCF Margin %	-2.09%	-1.93%	-0.19%	-0.24%	-0.31%	0.14%	0.45%	0.52%	0.33%	0.33%
FCF Growth %	0.04%	0.12%	0.85%	-1.55%	-0.62%	1.38%	5.47%	0.17%	-0.57%	0.3%
FCF per Share	-12.49	-9.03	-0.99	-2.06	-2.76	1.02	6.28	7.26	3.21	3.79
FCF Conversion (FCF/Net Income)	0.03x	0.22x	-8.29x	2.89x	-5.46x	17.66x	1.13x	1.36x	1.93x	1.53x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-40.02%	-14.2%	-0.92%	4.48%	-1.06%	0.62%	37.5%	27.61%	9.43%	14.71%
Return on Invested Capital (ROIC)	-16.62%	-4.4%	1.59%	4.29%	1.92%	2.13%	18.07%	14.61%	6.26%	9.25%
Gross Margin	11.92%	20.04%	45.58%	44.42%	29.06%	35.02%	65.17%	57.11%	41.58%	46.04%
Net Margin	-195.56%	-69.44%	-2.94%	8.96%	-1.97%	1.39%	47.68%	39.38%	18.28%	24.07%
Debt / Equity	0.87x	0.92x	0.94x	0.95x	1.03x	1.01x	0.76x	0.64x	0.76x	0.59x
Interest Coverage	-14.35x	-2.43x	0.78x	1.79x	0.84x	1.21x	13.20x	9.70x	2.71x	3.93x
FCF Conversion	0.03x	0.22x	-8.29x	2.89x	-5.46x	17.66x	1.13x	1.36x	1.93x	1.53x
Revenue Growth	58.96%	-5.2%	49.47%	96.27%	26.06%	-15.6%	105.91%	0.68%	-33.95%	33.31%

Frequently Asked Questions

Valuation & Price

Star Bulk Carriers Corp. (SBLK) has a price-to-earnings (P/E) ratio of 7.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Star Bulk Carriers Corp. (SBLK) reported $1.05B in revenue for fiscal year 2024. This represents a 881% increase from $107.1M in 2011.

Star Bulk Carriers Corp. (SBLK) grew revenue by 33.3% over the past year. This is strong growth.

Yes, Star Bulk Carriers Corp. (SBLK) is profitable, generating $61.5M in net income for fiscal year 2024 (24.1% net margin).

Dividend & Returns

Yes, Star Bulk Carriers Corp. (SBLK) pays a dividend with a yield of 12.19%. This makes it attractive for income-focused investors.

Star Bulk Carriers Corp. (SBLK) has a return on equity (ROE) of 14.7%. This is reasonable for most industries.

Star Bulk Carriers Corp. (SBLK) generated $241.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.