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Safe Bulkers Inc (SB) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

INDUSTRIALS · MARINE SHIPPING · DATA UPDATED 2026-09-18

Safe Bulkers Inc (SB) operates in the MARINE SHIPPING industry and is headquartered in Monaco, Monaco with about 10 employees. Its market capitalization is roughly $1 billion. In the fiscal year ended 2025-12-31, SB reported $276M in revenue and $39M in net income.

Safe Bulkers, Inc., together with its subsidiaries, provides marine drybulk transportation services internationally. The company owns and operates a fleet of dry bulk vessels for transporting bulk cargoes comprising coal, grain, and iron ore.

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SB Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-31
Total Revenue$307M$276M$308M$284M$350M$329M$198M$198M$193M$148M$110M$127M$154M$187M$184M$169M$157M$165M$201M$166M$95M
Gross Profit$136M$99M$140M$119M$210M$195M$32M$65M$75M$40M$3M$7M$41M$97M$110M$117M$114M$131M$172M$144M$95M
Gross Margin %44.2%35.9%45.6%42.0%60.1%59.2%16.3%33.0%38.9%26.9%2.8%5.4%26.6%52.0%59.8%69.5%72.4%79.3%85.8%86.6%100.0%
Operating Income (EBIT)$106M$69M$112M$94M$185M$172M$11M$45M$56M$24M($12M)($9M)$24M$86M$100M$109M$107M$123M$164M$119M$108M
Operating Margin %34.5%25.1%36.4%33.0%52.8%52.4%5.4%22.5%29.0%16.1%-11.2%-7.2%15.3%46.0%54.4%64.4%67.9%75.0%81.5%71.5%113.5%
Net Income$87M$39M$97M$77M$173M$174M($13M)$16M$28M($85M)($56M)($48M)$15M$83M$96M$90M$110M$165M$119M$209M$97M
Net Margin %28.3%14.0%31.6%27.2%49.3%53.0%-6.5%8.1%14.3%-57.2%-51.0%-37.7%9.5%44.6%52.2%53.1%69.8%100.5%59.4%126.1%102.0%
EBITDA$168M$132M$190M$159M$243M$245M$65M$96M$104M($8M)$18M$14M$69M$131M$139M$119M$136M$190M$146M$227M$92M
Earnings Per Share (EPS)$0.85$0.37$0.91$0.68$1.43$1.53$-0.13$0.16$0.27$-0.84$-0.66$-0.57$0.18$1.07$1.27$1.29$1.73$3.03$2.19$3.84$1.78
Shares Outstanding (M)102M103M108M114M121M114M103M102M102M101M85M83M83M77M75M69M63M55M55M54M54M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SB Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Total Revenue$87M$74M$73M$73M$66M$64M$71M$76M
Gross Profit$43M$34M$31M$29M$18M$22M$33M$34M
Gross Margin %49.2%45.3%42.0%39.4%27.7%33.5%46.0%44.4%
Operating Income (EBIT)$36M$26M$23M$21M$10M$15M$25M$27M
Operating Margin %41.1%35.6%31.1%29.1%16.0%23.2%34.5%35.2%
Net Income$35M$22M$12M$18M$2M$7M$19M$25M
Net Margin %40.2%29.8%16.3%24.3%2.6%11.3%27.1%33.1%
EBITDA$50M$41M$35M$41M$25M$30M$43M$48M
Earnings Per Share (EPS)$0.35$0.22$0.12$0.17$0.02$0.07$0.18$0.24
Shares Outstanding (M)102M102M102M102M102M105M106M107M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SB Free Cash Flow History

Cash flowTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-31
Cash from Operations (CFO)$131M$102M$130M$122M$218M$217M$63M$58M$85M$49M$14M$26M$44M$101M$105M$107M$118M$211M$260M$279M($13M)
Capital Expenditures (CapEx)$109M$42M$145M$209M$183M$109M$50M$39M$46M$60M$58M$124M$146M$119M$137M$161M$192M$131M$90M$128M$110M
Free Cash Flow (FCF)$22M$60M($14M)($87M)$35M$108M$13M$19M$40M($11M)($45M)($98M)($103M)($18M)($32M)($54M)($74M)$80M$170M$151M($123M)
FCF Margin %7.2%21.9%-4.7%-30.6%9.9%32.8%6.5%9.6%20.4%-7.3%-40.9%-77.0%-66.6%-9.8%-17.2%-31.8%-47.3%48.5%84.7%90.8%-129.1%
Dividends Paid$29M$30M$31M$34M$11M$11M$11M$11M$12M$14M$18M$26M$18M$37M$42M$38M$33M$209M$384M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SB Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Cash from Operations (CFO)$42M$35M$33M$20M$19M$30M$27M$25M
Capital Expenditures (CapEx)$42M$33M$33M$0M$0M$0M$27M$0M
Free Cash Flow (FCF)$0M$2M$0M$20M$19M$30M$0M$25M
FCF Margin %0.0%2.7%0.0%27.5%29.0%46.5%0.0%32.7%
Dividends Paid$30M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SB Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-31
Total Assets$1.4B$1.4B$1.4B$1.3B$1.2B$1.1B$1.1B$1.1B$1.1B$1.0B$1.2B$1.3B$1.2B$1.1B$1.1B$877M$805M$629M$482M$408M$536M
Cash & Cash Equivalents$135M$153M$84M$50M$50M$101M$90M$79M$52M$48M$83M$195M$118M$71M$126M$28M$65M$25M$60M
Total Liabilities$559M$572M$571M$547M$474M$415M$661M$625M$593M$579M$595M$675M$482M$534M$656M$545M$561M$532M$518M$353M$307M
Total Debt (Short + Long-Term)$511M$540M$537M$508M$414M$378M$608M$618M$592M$567M$582M$647M$470M$508M$616M$484M$495M$437M$468M$323M$143M
Total Shareholders' Equity$870M$831M$832M$793M$772M$679M$445M$490M$483M$456M$579M$634M$700M$578M$426M$332M$244M$97M($36M)$54M$229M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive SB viewer.

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