Safe Bulkers, Inc.
IndustrialsNYSE:SB · New York Stock Exchange
+$0.15 today
Vol 0.40M · Avg 0.58M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$275.7M of revenue converted into $38.6M of net income for the selected period. Gross margin is 35.7% and net margin is 13.6%, showing how much revenue survives after costs and taxes. EPS is $0.29, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $275.7M -10.4% | $307.6M +8.2% | $284.4M -18.7% | $349.7M +6.3% | $329.0M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $176.7M +5.5% | $167.5M +1.5% | $165.0M +18.1% | $139.7M +4.1% | $134.2M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $99.1M -29.3% | $140.2M +17.4% | $119.4M -43.1% | $210.0M +7.8% | $194.9M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 35.9% -9.6pp | 45.6% +3.6pp | 42.0% -18.1pp | 60.1% +0.8pp | 59.2% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $29.9M +10.4% | $27.0M +13.8% | $23.8M +9.0% | $21.8M -3.1% | $22.5M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $29.9M +5.5% | $28.3M +10.4% | $25.6M +1.0% | $25.4M +12.8% | $22.5M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $59.9M +3.0% | $58.1M +7.4% | $54.1M +9.3% | $49.5M -5.4% | $52.4M | $374.2M | $1.2B | $631.8M |
| EBITDA | $132.2M -30.6% | $190.5M +19.5% | $159.4M -34.3% | $242.6M -1.0% | $245.1M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 48.0% -14.0pp | 61.9% +5.9pp | 56.1% -13.3pp | 69.4% -5.1pp | 74.5% | 5.6% | 46.3% | 42.0% |
| Operating Income | $69.2M -38.1% | $111.9M +19.3% | $93.8M -49.2% | $184.6M +7.1% | $172.4M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 25.1% -11.3pp | 36.4% +3.4pp | 33.0% -19.8pp | 52.8% +0.4pp | 52.4% | 16.6% | 24.1% | 22.0% |
| Interest Income | $5.1M +50.8% | $3.4M +36.0% | $2.5M +218.9% | $783.0K +1034.8% | $69.0K | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $33.8M -3.3% | $34.9M +25.1% | $27.9M +36.3% | $20.5M +11.3% | $18.4M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$30.6M -111.4% | -$14.5M +11.7% | -$16.4M -35.8% | -$12.1M -710.5% | $2.0M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $38.6M -60.4% | $97.4M +25.9% | $77.4M -55.2% | $172.6M -1.0% | $174.3M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 14.0% -17.7pp | 31.7% +4.5pp | 27.2% -22.1pp | 49.3% -3.6pp | 53.0% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $1.3B | -$1.6B | $745.2M |
| Net Income | $38.6M -60.4% | $97.4M +25.9% | $77.4M -55.2% | $172.6M -1.0% | $174.3M | $4.9B | $4.8B | $4.7B |
| Net Margin | 14.0% -17.7pp | 31.7% +4.5pp | 27.2% -22.1pp | 49.3% -3.6pp | 53.0% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $0 -63.9% | $1 +36.1% | $1 -55.1% | $1 -5.6% | $1 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $0 -63.9% | $1 +36.1% | $1 -55.1% | $1 -5.6% | $1 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $103.0M -4.2% | $107.6M -5.3% | $113.6M -5.8% | $120.7M +6.1% | $113.7M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $103.0M -4.2% | $107.6M -5.3% | $113.6M -5.8% | $120.7M +6.1% | $113.7M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Covenant Logistics Group, Inc.
NYSE:CVLG
$1.14B
Kforce Inc.
NYSE:KFRC
$891.60M
Compass Diversified
NYSE:CODI
$773.43M
Ardmore Shipping Corporation
NYSE:ASC
$696.91M
Ennis, Inc.
NYSE:EBF
$524.94M
Cool Company Ltd.
CLCO
$511.23M
Euroseas Ltd.
NASDAQ:ESEA
$504.64M
Pangaea Logistics Solutions, Ltd.
NASDAQ:PANL
$502.39M
Costamare Bulkers Holdings Ltd
NYSE:CMDB
$435.61M
KNOT Offshore Partners LP
NYSE:KNOP
$363.53M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does SB generate?
Safe Bulkers, Inc. (SB) reported $275.74M of revenue in fiscal 2025.
Is SB profitable?
Safe Bulkers, Inc. (SB) reported $38.56M of net income, with a net margin of 14.0%.
Explore More
Continue the stock analysis
Jump to another research area for this company.