Star Bulk Carriers Corp. (SBLK) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.93	$1.21	+30.1%	—	$357.4M	—
Q1 26	$0.48	$0.56	+16.7%	—	$281.2M	—
Q4 25	$0.6	$0.65	+8.3%	—	$300.6M	—
Q3 25	$0.27	$0.29	+7.4%	—	$263.9M	—
Q2 25	$0.05	$0.11	+120.0%	—	$247.4M	—
Q1 25	-$0.28	-$0.07	+75.0%	—	$230.7M	—
Q4 24	$0.41	$0.34	-17.1%	—	$308.9M	—
Q3 24	$0.73	$0.71	-2.7%	—	$344.3M	—
Q2 24	$0.83	$0.78	-6.0%	—	$518.4M	—
Q1 24	$0.9	$0.87	-3.3%	—	$259.4M	—
Q4 23	$0.59	$0.73	+23.7%	—	$263.5M	—
Q3 23	$0.27	$0.34	+25.9%	—	$223.1M	—
Q2 23	$0.65	$0.47	-27.7%	—	$238.7M	—
Q1 23	$0.28	$0.36	+28.6%	—	$224M	—
Q4 22	$0.88	$0.9	+2.3%	—	$294.8M	—
Q3 22	$1.37	$1.33	-2.9%	—	$364.1M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.73	—	—	$1B	—
FY24	—	$2.85	—	—	$1.3B	—
FY23	—	$1.76	—	—	$949.3M	—
FY22	—	$5.54	—	—	$1.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$222.1M	$332M	$651.6M	$821.4M	$693.2M	$1.4B	$1.4B	$949.3M	$1.3B	$1B
YoY change	-5.2%	+49.5%	+96.3%	+26.1%	-15.6%	+105.9%	+0.68%	-33.9%	+33.3%	-17.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	222.1M	332M	651.6M	821.4M	693.2M	1.4B	1.4B	949.3M	1.3B	1B
Cost of revenue	263.8M	265.9M	466.5M	709.1M	594.9M	652.5M	759.7M	690M	845M	831.3M
Gross profit	-41.7M	66.1M	185.1M	112.3M	98.4M	775M	677.5M	259.2M	420.5M	211.2M
Gross margin	-18.8%	19.9%	28.4%	13.7%	14.2%	54.3%	47.1%	27.3%	33.2%	20.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	24.6M	31M	34M	34.8M	31.9M	39.5M	56.8M	54.4M	70.8M	70.5M
Operating expenses	23M	28M	34.2M	32.4M	28.6M	37.4M	48M	20.4M	66M	61M
Operating income	-64.7M	38.1M	150.4M	78.3M	69.7M	737.6M	629.4M	238.8M	354.5M	150.2M
Operating margin	-29.1%	11.5%	23.1%	9.53%	10.1%	51.7%	43.8%	25.2%	28%	14.4%
Non-operating income, net	-49.1M	-243K	-20.1M	-8.1M	9.3M	-1.4M	-17.8M	-9M	25.5M	-11.4M
Pretax income	-154.1M	-9.6M	58.4M	-16.1M	9.8M	680.4M	566.1M	173.7M	304.5M	85.1M
Income tax	267K	236K	61K	109K	152K	16K	244K	183K	-116K	0
Net income	-154.2M	-9.8M	58.4M	-16.2M	9.7M	680.5M	566M	173.6M	304.7M	84.2M
Net margin	-69.4%	-2.94%	8.96%	-1.97%	1.39%	47.7%	39.4%	18.3%	24.1%	8.07%
EBITDA	14.2M	119.5M	249.4M	196.5M	200.4M	880.1M	805.4M	417.8M	533.5M	333.3M
EPS	-3.24	-0.16	0.76	-0.17	0.1	6.73	5.54	1.76	2.85	0.73
Diluted EPS	-3.24	-0.16	0.76	-0.17	0.1	6.71	5.52	1.75	2.8	0.73

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	223.1M	263.5M	259.4M	518.4M	344.3M	308.9M	230.7M	247.4M	263.9M	300.6M	281.2M	357.4M
Cost of revenue	167.1M	174.9M	158.6M	307.6M	230.4M	234.8M	213.4M	210.6M	205.7M	201.6M	193.6M	199.5M
Gross profit	56M	88.6M	100.8M	210.7M	113.8M	74.1M	17.3M	36.8M	58.2M	99M	87.5M	157.9M
Gross margin	25.1%	33.6%	38.9%	40.7%	33.1%	24%	7.48%	14.9%	22.1%	32.9%	31.1%	44.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	13.6M	18.1M	10.7M	19.4M	21.6M	19M	15.3M	18.2M	19.7M	17.3M	14.5M	16.1M
Operating expenses	13.5M	17.9M	9.1M	15.5M	18.9M	18.7M	3.2M	26.7M	21M	9.2M	14.5M	16.5M
Operating income	42.5M	70.6M	91.7M	195.2M	94.9M	55.5M	14M	10.1M	37.2M	89.8M	73M	141.8M
Operating margin	19%	26.8%	35.4%	37.7%	27.6%	18%	6.08%	4.08%	14.1%	29.9%	26%	39.7%
Non-operating income, net	15.6M	-34.4M	2.2M	23.8M	3.7M	2.1M	1M	4M	-5.3M	-12M	-2.8M	12.8M
Pretax income	43.8M	39.7M	74.8M	180.9M	81.2M	42.5M	493K	26K	18.6M	66M	58.5M	144.9M
Income tax	78K	2K	-106K	-10K	0	0	0	0	0	0	—	—
Net income	43.7M	39.7M	74.9M	181M	81.3M	42.4M	462K	39K	18.5M	65.2M	58.5M	144.9M
Net margin	19.6%	15.1%	28.9%	34.9%	23.6%	13.7%	0.2%	0.02%	7.02%	21.7%	20.8%	40.6%
EBITDA	80.4M	131.6M	125.1M	263.7M	146M	104.9M	59.9M	57.7M	83.3M	134.2M	112.1M	182.6M
EPS	0.46	0.46	0.89	—	0.7	0.36	0	—	0.16	—	0.53	1.3
Diluted EPS	0.45	0.45	0.89	—	0.69	0.36	0	—	0.16	—	0.52	1.3

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	847M	2.3B	2B	2.1B	1.6B	2.2B	3.4B
Enterprise value	—	—	—	—	2.2B	3.4B	3B	3.1B	2.6B	2.9B	4B
Shares outstanding	47.6M	63M	77.1M	93.7M	95.9M	101.2M	102.2M	98.5M	106.9M	115M	115M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	87.7	3.37	3.47	12.1	5.24	26.3	11.6
P/S	—	—	—	—	1.22	1.61	1.37	2.21	1.26	2.12	2.85
P/B	—	—	—	—	0.55	1.1	0.97	1.26	0.64	0.9	1.31
EV/EBITDA	—	—	—	—	11.1	3.9	3.75	7.49	4.93	8.85	7.99
EV/Sales	—	—	—	—	3.21	2.41	2.1	3.3	2.08	2.83	3.31
Earnings yield	—	—	—	—	1.14%	29.7%	28.8%	8.29%	19.1%	3.81%	8.63%
FCF yield	—	—	—	—	11.6%	27.8%	37.9%	15.2%	26%	9.59%	4.99%
PEG	—	—	—	—	—	—	—	—	—	—	8.39

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	-18.8%	19.9%	28.4%	13.7%	14.2%	54.3%	47.1%	27.3%	33.2%	20.3%	44.2%
Operating margin	-29.1%	11.5%	23.1%	9.53%	10.1%	51.7%	43.8%	25.2%	28%	14.4%	39.7%
Net margin	-69.4%	-2.94%	8.96%	-1.97%	1.39%	47.7%	39.4%	18.3%	24.1%	8.07%	23.9%
ROE	-14.9%	-0.9%	3.84%	-1.05%	0.62%	32.7%	28%	10.5%	12.3%	3.44%	11.7%
ROA	-7.67%	-0.46%	1.93%	-0.5%	0.3%	18.1%	16.5%	5.73%	7.46%	2.21%	5.42%
ROIC	-3.58%	2.05%	5.45%	2.6%	2.34%	22.9%	20.5%	8.84%	10.1%	4.71%	4.71%
Return on tangible assets	-7.67%	-0.46%	1.93%	-0.5%	0.3%	18.1%	16.5%	5.73%	7.46%	2.21%	7.45%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	8.12	1.43	1.34	0.86	1.15	2.35	1.78	1.26	1.65	1.78	1.92
Quick ratio	7.61	1.34	1.22	0.69	0.98	2.09	1.54	1.09	1.45	1.65	1.74
Debt / equity	0.92	0.94	0.95	1.03	1.01	0.76	0.66	0.76	0.59	0.5	0.47
Debt / assets	0.47	0.48	0.48	0.49	0.49	0.42	0.39	0.42	0.36	0.32	0.31
Net debt / EBITDA	54.4	6.44	4.96	7.46	6.87	1.29	1.31	2.48	1.93	2.22	1.33
Interest coverage	-3.08	0.8	1.86	0.8	1.17	15.2	11	2.98	4.28	2.24	6.12
Effective tax rate	0%	0%	0.1%	0%	1.55%	0%	0.04%	0.11%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.67	5.27	8.46	8.76	7.23	14.1	14.1	9.64	11.8	9.06	10.7
EPS (basic)	-3.24	-0.16	0.76	-0.17	0.1	6.73	5.54	1.76	2.85	0.73	0.73
EPS (diluted)	-3.24	-0.16	0.76	-0.17	0.1	6.71	5.52	1.75	2.8	0.73	2.55
Book value per share	21.8	17.3	19.7	16.5	16.2	20.6	19.8	16.9	23.2	21.3	22.5
FCF per share	-9.03	-0.97	-2.07	-2.76	1.03	6.29	7.29	3.23	3.89	1.84	2.57
Cash per share	3.82	4.09	2.66	1.26	1.91	4.45	2.64	2.31	3.98	4.26	4.47
Capex per share	0.34	2.04	4.26	3.1	0.75	1.29	0.25	2.37	2.32	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	7.19%	38.7%	50.4%	35.4%	10.4%	9.12%	1.77%	24.5%	19.6%	—	—
Capex / operating cash flow	-21.6%	150%	219.6%	397%	38.5%	16.8%	3.36%	70.3%	47.9%	—	—
Payout ratio	—	0%	0%	-29.7%	49.7%	33.8%	118.1%	91.1%	90.9%	40.8%	40.4%
Dividend yield	—	—	—	—	0.57%	10%	34%	7.55%	17.3%	1.56%	12.3%

Yield

12.3%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.90

ex-dividend Aug 21, 2026

Payout ratio

40%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 21, 2026	$0.90
Jun 12, 2026	$0.50
Mar 9, 2026	$0.37
Dec 5, 2025	$0.11
Aug 28, 2025	$0.05
Jun 6, 2025	$0.05
Mar 4, 2025	$0.09

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$223.1M	$263.5M	$259.4M	$518.4M	$344.3M	$308.9M	$230.7M	$247.4M	$263.9M	$300.6M	$281.2M	$357.4M
YoY change	-38.7%	-10.6%	+15.8%	+117.2%	+54.3%	+17.3%	-11.1%	-52.3%	-23.4%	-2.7%	+21.9%	+44.5%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	181.8M	257.9M	204.9M	117.8M	183.2M	450.3M	269.8M	227.5M	425.1M	490M
Receivables	12.6M	18.5M	38.4M	58.8M	38.1M	81.1M	84M	68.6M	79.3M	83.6M
Inventory	14.5M	19.3M	27.4M	51.2M	47.3M	75.1M	67.2M	62.4M	78.6M	51.5M
Total current assets	228.5M	312.6M	298.8M	266M	307.4M	682.9M	502.1M	454.4M	659M	683.3M
Property, plant & equipment	-330.5M	-361.2M	-387.1M	-445.4M	-652.8M	-805.4M	-962.1M	-969M	-1B	-1B
Goodwill & intangibles	0	—	—	—	—	—	—	—	—	—
Total assets	2B	2.1B	3B	3.2B	3.2B	3.8B	3.4B	3B	4.1B	3.8B
Accounts payable	5.2M	9.9M	21M	42.8M	32.9M	21.8M	32.1M	39.3M	51.6M	49.5M
Short-term debt	6.2M	189.3M	166.8M	202.5M	189.8M	207.1M	191.9M	257.1M	252.1M	257.5M
Total current liabilities	28.1M	219.3M	222.7M	310.9M	266.4M	290.8M	282.6M	359.4M	399.8M	383.7M
Long-term debt	945.1M	837.9M	1.3B	1.4B	1.4B	1.4B	1.1B	1B	1.2B	971.8M
Total liabilities	974.5M	1.1B	1.5B	1.7B	1.6B	1.7B	1.4B	1.4B	1.6B	1.4B
Shareholders' equity	1B	1.1B	1.5B	1.5B	1.5B	2.1B	2B	1.7B	2.5B	2.4B
Total debt	951.3M	1B	1.4B	1.6B	1.6B	1.6B	1.3B	1.3B	1.5B	1.2B
Net debt	769.6M	769.3M	1.2B	1.5B	1.4B	1.1B	1.1B	1B	1B	740.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	287.9M	227.5M	228.5M	462.6M	453.6M	425.1M	420.8M	396.6M	443.4M	490M	397M	499.6M
Receivables	67.8M	68.6M	68.6M	91.3M	85.8M	79.3M	80.8M	70.3M	72.4M	83.6M	78M	97.2M
Inventory	75M	62.4M	56.8M	81.7M	80M	78.6M	69.4M	73.6M	61M	51.5M	62.7M	75M
Total current assets	495.5M	454.4M	446.3M	722.8M	700.8M	659M	640.4M	632M	638.4M	683.3M	594.2M	807.9M
Property, plant & equipment	-979.4M	-969M	-826.8M	-821.3M	-843.9M	-1B	-852M	-1B	-1.1B	-1B	-1.1B	1.8B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	3.2B	3B	3B	4.2B	4.2B	4.1B	4B	3.9B	3.8B	3.8B	3.7B	3.9B
Accounts payable	67.3M	39.3M	45.1M	49.9M	61.4M	51.6M	48.6M	43.4M	52.3M	49.5M	50.2M	59.7M
Short-term debt	172.8M	257.1M	196.2M	319.9M	247.9M	252.1M	243.7M	259.9M	226.8M	257.5M	202.1M	262M
Total current liabilities	343.6M	359.4M	311.4M	477.2M	413.5M	399.8M	388.2M	393.7M	370.1M	383.7M	343.9M	422M
Long-term debt	886.4M	1B	1B	1.3B	1.2B	1.2B	1.2B	1.1B	1B	971.8M	894.1M	917M
Total liabilities	1.4B	1.4B	1.3B	1.8B	1.6B	1.6B	1.6B	1.5B	1.4B	1.4B	1.2B	1.3B
Shareholders' equity	1.8B	1.7B	1.7B	2.5B	2.5B	2.5B	2.5B	2.4B	2.4B	2.4B	2.4B	2.5B
Total debt	1.1B	1.3B	1.2B	1.6B	1.5B	1.5B	1.4B	1.4B	1.2B	1.2B	1.1B	1.2B
Net debt	771.3M	1B	978M	1.2B	1B	1B	997.6M	961M	788.3M	740.8M	699.1M	680.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-154.2M	-9.8M	58.4M	-16.2M	9.7M	680.5M	566M	173.6M	304.7M	84.2M
Depreciation & amortization	81.9M	82.6M	102.9M	124.3M	142.3M	152.6M	167.4M	148.2M	164.1M	168.3M
Stock-based compensation	4.2M	9.3M	8.1M	7.9M	4.6M	10.3M	28.5M	20.9M	18.3M	17.8M
Change in working capital	-7.7M	1.3M	-20.9M	-44.2M	26.1M	-74.5M	-11.2M	13.1M	9.8M	3M
Operating cash flow	-73.8M	85.7M	149.6M	73.2M	187.4M	774M	755.3M	331.2M	517.8M	295.9M
Capital expenditure	-16M	-128.5M	-328.6M	-290.5M	-72.1M	-130.1M	-25.4M	232.9M	248.1M	—
Investing cash flow	-13.4M	-127.1M	-325.3M	-279.8M	-66.3M	-121.3M	-20.9M	235.5M	356.2M	10.7M
Dividends paid	—	0	0	-4.8M	-4.8M	-230.2M	-668.7M	-158.1M	-277M	-34.4M
Share repurchases	0	0	-3.1M	-20.5M	0	-10.3M	-20.1M	-393.1M	-25.3M	-98.1M
Financing cash flow	-160.8M	282.8M	96.7M	103.7M	-34.9M	-368.1M	-936M	-595.9M	-648.2M	-336M
Net change in cash	-248.1M	241.4M	-79M	-103M	86.1M	284.6M	-201.5M	-29.2M	225.7M	-29.4M
Free cash flow	-429.4M	-60.9M	-159.6M	-258.6M	98.5M	636.9M	744.5M	317.7M	416.1M	211.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	43.7M	39.7M	74.9M	181M	81.3M	42.4M	462K	39K	18.5M	65.2M	58.5M	144.9M
Depreciation & amortization	34.5M	35.8M	32M	64.1M	44.5M	44M	43M	42.6M	41.8M	40.9M	39.6M	39.8M
Stock-based compensation	6.3M	8.2M	2.2M	3.9M	7.6M	5.1M	1.6M	4.8M	7.3M	4.1M	1.9M	4M
Change in working capital	4.5M	-4.2M	9.5M	20.3M	16.5M	-24.5M	5.2M	-14.6M	40.6M	-28.2M	-9.6M	-22.9M
Operating cash flow	92.1M	80.5M	121.7M	271.7M	155.5M	74.3M	48.4M	54.5M	91.8M	101.1M	112.4M	149.9M
Capital expenditure	119.4M	34.8M	72M	187M	67.8M	-5.4M	1M	—	—	—	—	—
Investing cash flow	119.4M	36.9M	72.6M	188.8M	68.8M	-5.1M	9.4M	783K	2.1M	-486K	1.3M	513K
Dividends paid	-41.4M	-18.5M	-38M	-116.1M	-83.4M	-70.8M	-10.4M	-5.7M	-5.7M	-12.5M	-41.4M	-56.2M
Share repurchases	0	-380.1M	0	0	-19.2M	-6.1M	-19.6M	-49.3M	-6.6M	-22.7M	-37.9M	-8.4M
Financing cash flow	-173M	-178.7M	-180M	-305.1M	-172.1M	-150.5M	-62M	-110.9M	-132.7M	-30.5M	-206M	24.4M
Net change in cash	38.6M	-61.4M	14.2M	155.4M	52.2M	-81.4M	-4.1M	-55.6M	-38.8M	70.1M	-92.3M	174.8M
Free cash flow	63.2M	83.2M	92.2M	212.9M	125.8M	68.9M	41.2M	46.7M	81.1M	42.9M	92.4M	70.6M

Date	Ratio
Jun 20, 2016	1:5
Oct 15, 2012	1:15
Nov 25, 2008	1026:1000

Star Bulk Carriers Corp. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history