Star Bulk Carriers Corp. Financials

SBLK

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2025 Currency USD FYE December

This page shows Star Bulk Carriers Corp. (SBLK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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 80/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Star Bulk Carriers Corp. has an operating margin of 30.3%, meaning the company retains $30 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 25.1% the prior year.

Growth

100

Star Bulk Carriers Corp.'s revenue surged 33.3% year-over-year to $1.3B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Star Bulk Carriers Corp. carries a low D/E ratio of 0.65, meaning only $0.65 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Star Bulk Carriers Corp.'s current ratio of 1.65 indicates adequate short-term liquidity, earning a score of 46/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

100

Star Bulk Carriers Corp. converts 32.9% of revenue into free cash flow ($416.1M). This strong cash generation earns a score of 100/100.

Returns

Star Bulk Carriers Corp.'s ROE of 12.3% shows moderate profitability relative to equity, earning a score of 49/100. This is up from 10.4% the prior year.

Altman Z-Score Distress

1.55

Star Bulk Carriers Corp. scores 1.55, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.8B) relative to total liabilities ($1.6B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

5/9

Star Bulk Carriers Corp. passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.55x

For every $1 of reported earnings, Star Bulk Carriers Corp. generates $1.55 in operating cash flow ($471.2M OCF vs $304.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

4.2x

Star Bulk Carriers Corp. earns $4.2 in operating income for every $1 of interest expense ($383.0M vs $91.8M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

Export CSV

Revenue

$1.3B

YoY+33.3%

5Y CAGR+9.0%

10Y CAGR+24.0%

Star Bulk Carriers Corp. generated $1.3B in revenue in fiscal year 2024. This represents an increase of 33.3% from the prior year.

EBITDA

$547.1M

YoY+45.1%

5Y CAGR+22.5%

10Y CAGR+31.4%

Star Bulk Carriers Corp.'s EBITDA was $547.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 45.1% from the prior year.

Free Cash Flow

$416.1M

YoY+31.0%

Star Bulk Carriers Corp. generated $416.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 31.0% from the prior year.

Net Income

$304.7M

YoY+75.5%

Star Bulk Carriers Corp. reported $304.7M in net income in fiscal year 2024. This represents an increase of 75.5% from the prior year.

EPS (Diluted)

$2.80

YoY+60.0%

Star Bulk Carriers Corp. earned $2.80 per diluted share (EPS) in fiscal year 2024. This represents an increase of 60.0% from the prior year.

Cash & Debt

$425.1M

YoY+86.9%

5Y CAGR+29.3%

10Y CAGR+17.3%

Star Bulk Carriers Corp. held $425.1M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

$2.50

YoY+59.2%

5Y CAGR+118.7%

Star Bulk Carriers Corp. paid $2.50 per share in dividends in fiscal year 2024. This represents an increase of 59.2% from the prior year.

Shares Outstanding

118M

YoY+40.0%

5Y CAGR+4.1%

Star Bulk Carriers Corp. had 118M shares outstanding in fiscal year 2024. This represents an increase of 40.0% from the prior year.

Gross Margin

N/A

Operating Margin

30.3%

YoY+5.2pp

5Y CAGR+21.3pp

10Y CAGR+31.2pp

Star Bulk Carriers Corp.'s operating margin was 30.3% in fiscal year 2024, reflecting core business profitability. This is up 5.2 percentage points from the prior year.

Net Margin

24.1%

YoY+5.8pp

5Y CAGR+26.0pp

10Y CAGR+32.0pp

Star Bulk Carriers Corp.'s net profit margin was 24.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 5.8 percentage points from the prior year.

Return on Equity

12.3%

YoY+1.8pp

Star Bulk Carriers Corp.'s ROE was 12.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.8 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$25.3M

YoY-93.6%

5Y CAGR+4.3%

Star Bulk Carriers Corp. spent $25.3M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 93.6% from the prior year.

Capital Expenditures

$55.1M

YoY+204.5%

5Y CAGR-30.8%

10Y CAGR-20.1%

Star Bulk Carriers Corp. invested $55.1M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 204.5% from the prior year.

SBLK Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.3B+33.3%	$949.3M-33.9%	$1.4B+0.7%	$1.4B+105.9%	$693.2M-15.6%	$821.4M
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	$70.8M+30.1%	$54.4M-4.2%	$56.8M+43.9%	$39.5M+23.9%	$31.9M-8.4%	$34.8M
Operating Income	$383.0M+60.6%	$238.5M-60.8%	$607.6M-17.8%	$739.4M+780.4%	$84.0M+14.0%	$73.7M
Interest Expense	$91.8M+28.8%	$71.3M+35.6%	$52.6M-6.2%	$56.0M-19.4%	$69.6M-20.6%	$87.6M
Income Tax	-$116K-163.4%	$183K-25.0%	$244K+1425.0%	$16K-89.5%	$152K+39.4%	$109K
Net Income	$304.7M+75.5%	$173.6M-69.3%	$566.0M-16.8%	$680.5M+6944.8%	$9.7M+159.6%	-$16.2M
EPS (Diluted)	$2.80+60.0%	$1.75-68.3%	$5.52-17.7%	$6.71+6610.0%	$0.10+158.8%	$-0.17

Metric	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
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

SBLK Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$4.1B+34.9%	$3.0B-11.8%	$3.4B-8.6%	$3.8B+17.6%	$3.2B-1.4%	$3.2B
Current Assets	$659.0M+45.0%	$454.4M-9.5%	$502.1M-26.5%	$682.9M+122.2%	$307.4M+15.5%	$266.0M
Cash & Equivalents	$425.1M+86.9%	$227.5M-15.7%	$269.8M-40.1%	$450.3M+145.8%	$183.2M+55.5%	$117.8M
Inventory	$78.6M+26.0%	$62.4M-7.1%	$67.2M-10.5%	$75.1M+58.7%	$47.3M-7.5%	$51.2M
Accounts Receivable	$79.3M+15.6%	$68.6M-18.3%	$84.0M+3.7%	$81.1M+112.8%	$38.1M-35.2%	$58.8M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.6B+17.3%	$1.4B-3.3%	$1.4B-15.6%	$1.7B+2.0%	$1.6B-3.1%	$1.7B
Current Liabilities	$399.8M+11.3%	$359.4M+27.2%	$282.6M-2.8%	$290.8M+9.1%	$266.4M-14.3%	$310.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.5B+49.5%	$1.7B-17.8%	$2.0B-2.9%	$2.1B+34.2%	$1.5B+0.4%	$1.5B
Retained Earnings	-$605.6M+4.4%	-$633.2M+2.4%	-$648.7M-18.8%	-$546.3M+45.2%	-$996.3M+0.5%	-$1.0B

Metric	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
Total Assets	$3.9B-4.7%	$4.1B-3.6%	$4.2B+39.9%	$3.0B-7.8%	$3.3B-4.3%	$3.4B-5.7%	$3.6B-3.1%	$3.8B
Current Assets	$632.0M-4.1%	$659.0M-8.8%	$722.8M+59.1%	$454.4M-6.7%	$487.1M-3.0%	$502.1M-20.5%	$631.5M-7.5%	$682.9M
Cash & Equivalents	$395.6M-6.9%	$425.1M-8.1%	$462.6M+103.3%	$227.5M-20.3%	$285.2M+5.7%	$269.8M-19.7%	$335.8M-25.4%	$450.3M
Inventory	$73.6M-6.4%	$78.6M-3.8%	$81.7M+30.9%	$62.4M-4.1%	$65.0M-3.2%	$67.2M-31.2%	$97.7M+30.1%	$75.1M
Accounts Receivable	$70.3M-11.4%	$79.3M-13.2%	$91.3M+33.1%	$68.6M+14.9%	$59.7M-28.9%	$84.0M-10.1%	$93.4M+15.3%	$81.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.5B-7.1%	$1.6B-9.9%	$1.8B+30.1%	$1.4B+5.9%	$1.3B-8.6%	$1.4B-7.9%	$1.5B-8.4%	$1.7B
Current Liabilities	$393.7M-1.5%	$399.8M-16.2%	$477.2M+32.8%	$359.4M+9.1%	$329.5M+16.6%	$282.6M-7.3%	$304.9M+4.8%	$290.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.4B-3.2%	$2.5B+1.0%	$2.5B+48.1%	$1.7B-16.7%	$2.0B-1.3%	$2.0B-4.1%	$2.1B+1.2%	$2.1B
Retained Earnings	-$621.2M-2.6%	-$605.6M-5.3%	-$575.1M+9.2%	-$633.2M+3.6%	-$656.7M-1.2%	-$648.7M-17.8%	-$550.8M-0.8%	-$546.3M

SBLK Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$471.2M+40.3%	$335.8M-56.4%	$769.9M+0.4%	$767.1M+349.8%	$170.6M+92.7%	$88.5M
Capital Expenditures	$55.1M+204.5%	$18.1M-28.8%	$25.4M-80.5%	$130.1M+80.6%	$72.1M-79.2%	$347.1M
Free Cash Flow	$416.1M+31.0%	$317.7M-57.3%	$744.5M+16.9%	$636.9M+546.7%	$98.5M+138.1%	-$258.6M
Investing Cash Flow	$356.2M+51.2%	$235.5M+1228.4%	-$20.9M+82.8%	-$121.3M-82.8%	-$66.3M+76.3%	-$279.8M
Financing Cash Flow	-$648.2M-8.8%	-$595.9M+36.3%	-$936.0M-154.3%	-$368.1M-953.2%	-$34.9M-133.7%	$103.7M
Dividends Paid	$277.0M+75.3%	$158.1M-76.4%	$668.5M+190.0%	$230.5M+4697.5%	$4.8M0.0%	$4.8M
Share Buybacks	$25.3M-93.6%	$393.1M+1858.9%	$20.1M+95.3%	$10.3M	$0-100.0%	$20.5M

Metric	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A	N/A	N/A	N/A

SBLK Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	30.3%+5.2pp	25.1%-17.2pp	42.3%-9.5pp	51.8%+39.7pp	12.1%+3.1pp	9.0%
Net Margin	24.1%+5.8pp	18.3%-21.1pp	39.4%-8.3pp	47.7%+46.3pp	1.4%+3.4pp	-2.0%
Return on Equity	12.3%+1.8pp	10.4%-17.6pp	28.0%-4.7pp	32.7%+32.1pp	0.6%	N/A
Return on Assets	7.5%+1.7pp	5.7%-10.8pp	16.5%-1.6pp	18.1%+17.8pp	0.3%+0.8pp	-0.5%
Current Ratio	1.65+0.4	1.26-0.5	1.78-0.6	2.35+1.2	1.15+0.3	0.86
Debt-to-Equity	0.65-0.2	0.82+0.1	0.70-0.1	0.81-0.3	1.06-0.0	1.10
FCF Margin	32.9%-0.6pp	33.5%-18.3pp	51.8%+7.2pp	44.6%+30.4pp	14.2%+45.7pp	-31.5%

Metric	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21
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	1.61-0.0	1.65+0.1	1.51+0.3	1.26-0.2	1.48-0.3	1.78-0.3	2.07-0.3	2.35
Debt-to-Equity	0.62-0.0	0.65-0.1	0.72-0.1	0.82+0.2	0.65-0.1	0.70-0.0	0.73-0.1	0.81
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

What is Star Bulk Carriers Corp.'s annual revenue?

Star Bulk Carriers Corp. (SBLK) reported $1.3B in total revenue for fiscal year 2024. This represents a 33.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Star Bulk Carriers Corp.'s revenue growing?

Star Bulk Carriers Corp. (SBLK) revenue grew by 33.3% year-over-year, from $949.3M to $1.3B in fiscal year 2024.

Is Star Bulk Carriers Corp. profitable?

Yes, Star Bulk Carriers Corp. (SBLK) reported a net income of $304.7M in fiscal year 2024, with a net profit margin of 24.1%.

What is Star Bulk Carriers Corp.'s earnings per share (EPS)?

Star Bulk Carriers Corp. (SBLK) reported diluted earnings per share of $2.80 for fiscal year 2024. This represents a 60.0% 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.

What is Star Bulk Carriers Corp.'s EBITDA?

Star Bulk Carriers Corp. (SBLK) had EBITDA of $547.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Star Bulk Carriers Corp.'s operating margin?

Star Bulk Carriers Corp. (SBLK) had an operating margin of 30.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Star Bulk Carriers Corp.'s net profit margin?

Star Bulk Carriers Corp. (SBLK) had a net profit margin of 24.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Star Bulk Carriers Corp. pay dividends?

Yes, Star Bulk Carriers Corp. (SBLK) paid $2.50 per share in dividends during fiscal year 2024.

What is Star Bulk Carriers Corp.'s return on equity (ROE)?

Star Bulk Carriers Corp. (SBLK) has a return on equity of 12.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Star Bulk Carriers Corp.'s free cash flow?

Star Bulk Carriers Corp. (SBLK) generated $416.1M in free cash flow during fiscal year 2024. This represents a 31.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Star Bulk Carriers Corp.'s operating cash flow?

Star Bulk Carriers Corp. (SBLK) generated $471.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Star Bulk Carriers Corp.'s total assets?

Star Bulk Carriers Corp. (SBLK) had $4.1B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Star Bulk Carriers Corp.'s capital expenditures?

Star Bulk Carriers Corp. (SBLK) invested $55.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Star Bulk Carriers Corp. buy back shares?

Yes, Star Bulk Carriers Corp. (SBLK) spent $25.3M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Star Bulk Carriers Corp. have outstanding?

Star Bulk Carriers Corp. (SBLK) had 118M shares outstanding as of fiscal year 2024.

What is Star Bulk Carriers Corp.'s current ratio?

Star Bulk Carriers Corp. (SBLK) had a current ratio of 1.65 as of fiscal year 2024, which is generally considered healthy.

What is Star Bulk Carriers Corp.'s debt-to-equity ratio?

Star Bulk Carriers Corp. (SBLK) had a debt-to-equity ratio of 0.65 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Star Bulk Carriers Corp.'s return on assets (ROA)?

Star Bulk Carriers Corp. (SBLK) had a return on assets of 7.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Star Bulk Carriers Corp.'s Altman Z-Score?

Star Bulk Carriers Corp. (SBLK) has an Altman Z-Score of 1.55, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Star Bulk Carriers Corp.'s Piotroski F-Score?

Star Bulk Carriers Corp. (SBLK) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Star Bulk Carriers Corp.'s earnings high quality?

Star Bulk Carriers Corp. (SBLK) has an earnings quality ratio of 1.55x, 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 Star Bulk Carriers Corp. cover its interest payments?

Star Bulk Carriers Corp. (SBLK) has an interest coverage ratio of 4.2x, 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 Star Bulk Carriers Corp.?

Star Bulk Carriers Corp. (SBLK) scores 80 out of 100 on our Financial Profile, indicating strong 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.