Safe Bulkers Financials
This page shows Safe Bulkers (SB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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
Safe Bulkers does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Safe Bulkers passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.
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.
Safe Bulkers earns $2.31 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
Earnings & Revenue
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.
Safe Bulkers reported $38.6M in net income in fiscal year 2025. This represents a decrease of 60.4% from the prior year.
Safe Bulkers earned $0.30 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 63.9% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Safe Bulkers held $141.6M in cash against $503.7M in long-term debt as of fiscal year 2025.
Safe Bulkers paid $0.20 per share in dividends in fiscal year 2025. That is unchanged from the prior year.
Not reported for fiscal year 2025.
Margins & Returns
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
SB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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+4.2% | $20.6M+7.3% | $19.2M+19.4% | $16.1M+4.8% | $15.4M+5.2% | $14.6M+9.6% | $13.3M+17.4% | $11.4M+14.2% | $9.9M+17.2% | $8.5M |
| Operating Income | $70.0M-45.5% | $128.4M+23.3% | $104.1M-43.6% | $184.6M-3.5% | $191.4M+1726.8% | $10.5M-76.2% | $44.1M-21.2% | $55.9M+180.6% | -$69.3M-120.6% | -$31.4M+1.9% | -$32.0M-219.8% | $26.7M-71.2% | $92.8M-17.1% | $112.0M+2.8% | $108.9M |
| Interest Expense | $30.3M-3.3% | $31.4M+27.0% | $24.7M+44.2% | $17.1M+16.4% | $14.7M-30.7% | $21.2M-20.8% | $26.8M+4.3% | $25.7M+10.7% | $23.2M+18.6% | $19.6M+68.0% | $11.7M+39.8% | $8.3M-8.3% | $9.1M+0.2% | $9.1M+72.8% | $5.3M |
| Net Income | $38.6M-60.4% | $97.4M+25.9% | $77.4M-55.2% | $172.6M-1.0% | $174.3M+1451.0% | -$12.9M-180.5% | $16.0M-42.1% | $27.7M+132.7% | -$84.7M-51.3% | -$56.0M-16.7% | -$47.9M-427.6% | $14.6M-82.4% | $83.3M-13.4% | $96.1M+7.1% | $89.7M |
| EPS (Diluted) | $0.30-63.9% | $0.83+36.1% | $0.61-55.1% | $1.36-5.6% | $1.44 | -$0.25 | $0.04 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Income Tax.
SB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B0.0% | $1.4B+4.7% | $1.3B+7.5% | $1.2B+13.9% | $1.1B-1.0% | $1.1B-0.8% | $1.1B+3.6% | $1.1B+4.0% | $1.0B-11.8% | $1.2B-10.4% | $1.3B+11.3% | $1.2B+5.8% | $1.1B+2.8% | $1.1B+23.4% | $877.3M |
| Current Assets | $200.6M+21.3% | $165.4M+12.7% | $146.7M-7.0% | $157.7M+27.1% | $124.1M-7.9% | $134.7M-0.9% | $136.0M+34.3% | $101.3M+28.0% | $79.1M-28.8% | $111.0M-54.3% | $243.2M+78.9% | $135.9M-21.5% | $173.2M+0.8% | $171.8M+352.7% | $38.0M |
| Cash & Equivalents | $141.6M+74.6% | $81.1M+68.3% | $48.2M-2.0% | $49.2M-51.3% | $101.0M+12.2% | $90.0M+14.1% | $78.9M+52.2% | $51.9M+12.3% | $46.2M-43.4% | $81.6M-37.6% | $130.7M+21.8% | $107.3M+65.9% | $64.7M-37.0% | $102.7M+265.3% | $28.1M |
| Inventory | $19.0M+27.7% | $14.9M-10.6% | $16.7M-3.9% | $17.3M+100.2% | $8.7M-28.1% | $12.0M+29.9% | $9.3M+123.8% | $4.1M-2.1% | $4.2M-18.3% | $5.2M+0.1% | $5.2M-53.8% | $11.2M-11.2% | $12.6M+113.6% | $5.9M+122.4% | $2.7M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $4.5M-0.9% | $4.6M-12.9% | $5.2M-5.5% | $5.5M |
| Total Liabilities | $572.5M+0.2% | $571.5M+4.4% | $547.3M+15.5% | $474.0M+14.2% | $415.1M-35.4% | $642.8M+2.9% | $624.7M+5.3% | $593.4M+2.5% | $578.7M-2.8% | $595.2M-11.9% | $675.5M+41.8% | $476.3M-10.8% | $533.9M-18.7% | $656.4M+20.3% | $545.4M |
| Current Liabilities | $69.1M-20.1% | $86.5M+55.2% | $55.7M-39.0% | $91.3M+3.0% | $88.7M-15.3% | $104.7M+20.7% | $86.8M+58.9% | $54.6M+47.9% | $36.9M+55.3% | $23.8M-77.5% | $105.7M+286.9% | $27.3M-52.3% | $57.3M+20.7% | $47.5M-8.1% | $51.7M |
| 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-1.0% | $540.3M-0.3% | $542.1M-0.6% | $545.2M-5.1% | $574.4M-0.1% | $574.8M+27.0% | $452.4M-4.4% | $473.1M-20.7% | $596.5M+28.1% | $465.8M |
| Total Equity | $830.7M-0.1% | $831.6M+4.9% | $792.5M+2.7% | $771.9M+13.6% | $679.2M+52.7% | $444.7M-5.9% | $472.7M+1.5% | $465.8M+2.1% | $456.3M-21.1% | $578.5M-8.8% | $634.1M-9.4% | $700.1M+21.1% | $578.3M+35.8% | $425.9M+28.3% | $331.8M |
| Retained Earnings | $517.3M+2.0% | $507.3M+15.4% | $439.5M+11.9% | $392.8M+54.7% | $253.9M+181.1% | $90.3M-21.9% | $115.6M+3.9% | $111.3M+17.0% | $95.1M-51.0% | $194.2M-26.5% | $264.3M-19.9% | $329.7M-3.3% | $341.0M+23.8% | $275.5M+27.0% | $216.9M |
Not reported in any period shown, so not listed: Goodwill.
SB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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+8.7% | $58.3M-31.8% | $85.4M+70.6% | $50.1M+271.7% | $13.5M-47.2% | $25.5M-41.6% | $43.7M-56.5% | $100.6M-4.3% | $105.1M-2.0% | $107.2M |
| 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+5.4% | -$36.8M+42.2% | -$63.7M-60.8% | -$39.6M+0.7% | -$39.9M+68.1% | -$125.0M | N/A | N/A | -$158.1M-25.6% | -$125.9M |
| 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-208.8% | $8.5M+154.8% | -$15.6M+66.9% | -$47.1M+43.9% | -$83.9M-146.6% | $180.1M | N/A | N/A | $127.7M+789.7% | -$18.5M |
| Share Buybacks | $11.0M-61.9% | $28.9M+10.3% | $26.2M+189.7% | $9.1M | $0-100.0% | $6.0M+44.8% | $4.2M+573.1% | $617K | $0-100.0% | $120K | $0 | $0 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.
SB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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%-6.3pp | 3.4%-2.6pp | 5.9%+24.5pp | -18.6%-8.9pp | -9.7%-2.1pp | -7.6%-9.7pp | 2.1%-12.3pp | 14.4%-8.2pp | 22.6%-4.5pp | 27.0% |
| 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%-2.6pp | 1.4%-1.1pp | 2.6%+10.8pp | -8.2%-3.4pp | -4.8%-1.1pp | -3.7%-4.9pp | 1.2%-6.2pp | 7.5%-1.4pp | 8.9%-1.3pp | 10.2% |
| Current Ratio | 2.90+1.0x | 1.91-0.7x | 2.63+0.9x | 1.73+0.3x | 1.40+0.1x | 1.29-0.3x | 1.57-0.3x | 1.85-0.3x | 2.14-2.5x | 4.67+2.4x | 2.30-2.7x | 4.97+2.0x | 3.02-0.6x | 3.62+2.9x | 0.73 |
| Debt-to-Equity | 0.610.0x | 0.580.0x | 0.62+0.1x | 0.490.0x | 0.47-0.7x | 1.20+0.1x | 1.140.0x | 1.160.0x | 1.19+0.2x | 0.99+0.1x | 0.91+0.3x | 0.65-0.2x | 0.82-0.6x | 1.400.0x | 1.40 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Safe Bulkers Ranks
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.
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 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 2.31x, 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.