Star Bulk Carriers Corp. Financials
Star Bulk Carriers Corp. (SBLK) reported $1.0B in revenue for fiscal year 2025, down 17.6% from the prior fiscal year. This page shows its 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).
Star Bulk’s dominant mechanic is cyclical earnings compression: operating cash remains positive, but lower margins reduce cash available after reinvestment.
FY2025 operating cash flow was$295.9M , far above net income of$84.2M , a pattern consistent with substantial noncash depreciation in an asset-heavy model. Yet free cash flow was$211.9M after$84.0M of capital expenditures, showing that cash conversion exceeds accounting profit while reinvestment still absorbs a meaningful portion of operating cash.
The margin profile is cyclical rather than steadily scaling: operating margin fell from
The balance sheet became less debt-dependent: debt-to-equity declined from 0.8x in FY2021 to 0.6x in FY2025, indicating a more conservatively financed structure. Capital expenditures rose from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Star Bulk Carriers Corp.'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.
Star Bulk Carriers Corp. has an operating margin of 13.1%, meaning the company retains $13 of operating profit per $100 of revenue. This strong profitability earns a score of 78/100, reflecting efficient cost management and pricing power. This is down from 30.3% the prior year.
Star Bulk Carriers Corp.'s revenue declined 17.6% year-over-year, from $1.3B to $1.0B. This contraction results in a growth score of 49/100.
Star Bulk Carriers Corp. has a moderate D/E ratio of 0.55. This balance of debt and equity financing earns a leverage score of 58/100.
Star Bulk Carriers Corp.'s current ratio of 1.78 indicates adequate short-term liquidity, earning a score of 51/100. The company can meet its near-term obligations, though with limited headroom.
Star Bulk Carriers Corp. converts 20.3% of revenue into free cash flow ($211.9M). This strong cash generation earns a score of 92/100.
Star Bulk Carriers Corp.'s ROE of 3.4% shows moderate profitability relative to equity, earning a score of 56/100. This is down from 12.3% the prior year.
Star Bulk Carriers Corp. scores 1.82, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($3.5B) relative to total liabilities ($1.4B). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Star Bulk Carriers Corp. 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, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Star Bulk Carriers Corp. generates $3.52 in operating cash flow ($295.9M OCF vs $84.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Star Bulk Carriers Corp. earns $1.92 in operating income for every $1 of interest expense ($136.9M vs $71.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Star Bulk Carriers Corp. generated $1.0B in revenue in fiscal year 2025. This represents a decrease of 17.6% from the prior year.
Star Bulk Carriers Corp.'s EBITDA was $305.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 44.2% from the prior year.
Star Bulk Carriers Corp. reported $84.2M in net income in fiscal year 2025. This represents a decrease of 72.4% from the prior year.
Star Bulk Carriers Corp. earned $0.73 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 73.9% from the prior year.
Cash & Balance Sheet
Star Bulk Carriers Corp. generated $211.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 49.1% from the prior year.
Star Bulk Carriers Corp. held $488.5M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Star Bulk Carriers Corp. paid $0.30 per share in dividends in fiscal year 2025. This represents a decrease of 88.0% from the prior year.
Margins & Returns
Star Bulk Carriers Corp.'s operating margin was 13.1% in fiscal year 2025, reflecting core business profitability. This is down 17.1 percentage points from the prior year.
Star Bulk Carriers Corp.'s net profit margin was 8.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 16.0 percentage points from the prior year.
Star Bulk Carriers Corp.'s ROE was 3.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 8.8 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Star Bulk Carriers Corp. spent $98.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 287.8% from the prior year.
Star Bulk Carriers Corp. invested $84.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 52.4% from the prior year.
Not reported for fiscal year 2025.
SBLK Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 |
|---|
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Interest Expense, Income Tax, Net Income, EPS (Diluted).
SBLK Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.9B+1.3% | $3.8B-2.3% | $3.9B-4.7% | $4.1B-3.6% | $4.2B+39.9% | $3.0B-7.8% | $3.3B-4.3% | $3.4B |
| Current Assets | $807.9M+18.2% | $683.3M+8.1% | $632.0M-4.1% | $659.0M-8.8% | $722.8M+59.1% | $454.4M-6.7% | $487.1M-3.0% | $502.1M |
| Cash & Equivalents | $498.2M+2.0% | $488.5M+23.5% | $395.6M-6.9% | $425.1M-8.1% | $462.6M+103.3% | $227.5M-20.3% | $285.2M+5.7% | $269.8M |
| Inventory | $75.0M+45.7% | $51.5M-30.0% | $73.6M-6.4% | $78.6M-3.8% | $81.7M+30.9% | $62.4M-4.1% | $65.0M-3.2% | $67.2M |
| Accounts Receivable | $97.2M+16.3% | $83.6M+18.9% | $70.3M-11.4% | $79.3M-13.2% | $91.3M+33.1% | $68.6M+14.9% | $59.7M-28.9% | $84.0M |
| Total Liabilities | $1.3B-1.2% | $1.4B-9.1% | $1.5B-7.1% | $1.6B-9.9% | $1.8B+30.1% | $1.4B+5.9% | $1.3B-8.6% | $1.4B |
| Current Liabilities | $422.0M+10.0% | $383.7M-2.6% | $393.7M-1.5% | $399.8M-16.2% | $477.2M+32.8% | $359.4M+9.1% | $329.5M+16.6% | $282.6M |
| Total Equity | $2.5B+2.7% | $2.4B+2.0% | $2.4B-3.2% | $2.5B+1.0% | $2.5B+48.1% | $1.7B-16.7% | $2.0B-1.3% | $2.0B |
| Retained Earnings | -$449.9M+19.1% | -$555.8M+10.5% | -$621.2M-2.6% | -$605.6M-5.3% | -$575.1M+9.2% | -$633.2M+3.6% | -$656.7M-1.2% | -$648.7M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
SBLK 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 | Q2'26 | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 |
|---|
Not reported in any period shown, so not listed: Operating Cash Flow, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
SBLK Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.91+0.1x | 1.78+0.2x | 1.610.0x | 1.65+0.1x | 1.51+0.3x | 1.26-0.2x | 1.48-0.3x | 1.78 |
| Debt-to-Equity | 0.530.0x | 0.55-0.1x | 0.620.0x | 0.65-0.1x | 0.72-0.1x | 0.82+0.2x | 0.65-0.1x | 0.70 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, FCF Margin.
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Where Star Bulk Carriers Corp. Ranks
Frequently Asked Questions
What is Star Bulk Carriers Corp.'s annual revenue?
Star Bulk Carriers Corp. (SBLK) reported $1.0B in total revenue for fiscal year 2025. This represents a -17.6% 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 declined by 17.6% year-over-year, from $1.3B to $1.0B in fiscal year 2025.
Is Star Bulk Carriers Corp. profitable?
Yes, Star Bulk Carriers Corp. (SBLK) reported a net income of $84.2M in fiscal year 2025, with a net profit margin of 8.1%.
What is Star Bulk Carriers Corp.'s EBITDA?
Star Bulk Carriers Corp. (SBLK) had EBITDA of $305.1M in fiscal year 2025, 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 13.1% in fiscal year 2025, 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 8.1% in fiscal year 2025, 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 $0.30 per share in dividends during fiscal year 2025.
What is Star Bulk Carriers Corp.'s return on equity (ROE)?
Star Bulk Carriers Corp. (SBLK) has a return on equity of 3.4% for fiscal year 2025, 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 $211.9M in free cash flow during fiscal year 2025. This represents a -49.1% 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 $295.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Star Bulk Carriers Corp.'s total assets?
Star Bulk Carriers Corp. (SBLK) had $3.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Star Bulk Carriers Corp.'s capital expenditures?
Star Bulk Carriers Corp. (SBLK) invested $84.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Star Bulk Carriers Corp.'s current ratio?
Star Bulk Carriers Corp. (SBLK) had a current ratio of 1.78 as of fiscal year 2025, 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 0.55 as of fiscal year 2025, 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 2.2% for fiscal year 2025, 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 1.82, placing it in the Grey Zone (moderate 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 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 Star Bulk Carriers Corp.'s earnings high quality?
Star Bulk Carriers Corp. (SBLK) has an earnings quality ratio of 3.52x, 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 1.92x, meaning it can struggle to 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 64 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.