Safe Bulkers Inc
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. Its fleet consists of 45 vessels, including 8 Panamax class vessels, 12 Kamsarmax class vessels, 17 post-Panamax class vessels, and 8 Capesize class vessels… Read more
Safe Bulkers Inc (SB) - Net Assets
Latest net assets as of December 2025: $830.71 Million USD
Based on the latest financial reports, Safe Bulkers Inc (SB) has net assets worth $830.71 Million USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.40 Billion) and total liabilities ($572.48 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $830.71 Million |
| % of Total Assets | 59.2% |
| Annual Growth Rate | 7.02% |
| 5-Year Change | 22.3% |
| 10-Year Change | 43.59% |
| Growth Volatility | 59.31 |
Safe Bulkers Inc - Net Assets Trend (2006–2025)
This chart illustrates how Safe Bulkers Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Safe Bulkers Inc (2006–2025)
The table below shows the annual net assets of Safe Bulkers Inc from 2006 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $830.71 Million | -0.11% |
| 2024-12-31 | $831.62 Million | +4.93% |
| 2023-12-31 | $792.51 Million | +2.67% |
| 2022-12-31 | $771.92 Million | +13.64% |
| 2021-12-31 | $679.24 Million | +52.73% |
| 2020-12-31 | $444.75 Million | -9.22% |
| 2019-12-31 | $489.94 Million | +1.47% |
| 2018-12-31 | $482.83 Million | +5.80% |
| 2017-12-31 | $456.35 Million | -21.12% |
| 2016-12-31 | $578.54 Million | -8.77% |
| 2015-12-31 | $634.15 Million | -9.42% |
| 2014-12-31 | $700.10 Million | +21.05% |
| 2013-12-31 | $578.34 Million | +35.81% |
| 2012-12-31 | $425.86 Million | +28.33% |
| 2011-12-31 | $331.84 Million | +35.93% |
| 2010-12-31 | $244.13 Million | +151.12% |
| 2009-12-31 | $97.22 Million | +373.51% |
| 2008-12-31 | $-35.55 Million | -165.34% |
| 2007-12-31 | $54.40 Million | -76.25% |
| 2006-12-31 | $229.05 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Safe Bulkers Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 125.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $517.29 Million | 62.27% |
| Other Components | $313.42 Million | 37.73% |
| Total Equity | $830.71 Million | 100.00% |
Safe Bulkers Inc Competitors by Market Cap
The table below lists competitors of Safe Bulkers Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Lycos Energy Inc.
F:G4P0
|
$21.21 Million |
|
Company K Partners Limited
KQ:307930
|
$21.22 Million |
|
Zero to Seven Inc
KQ:159580
|
$21.22 Million |
|
Genesystem Co. Ltd.
KQ:363250
|
$21.22 Million |
|
Palmboomen Cultuur Maatschappij Mopoli (Palmeraies De Mopoli) N.V
BR:MOP
|
$21.20 Million |
|
Sarana Mitra Luas
JK:SMIL
|
$21.19 Million |
|
Lokesh Machines Limited
NSE:LOKESHMACH
|
$21.18 Million |
|
Phoenix New Media Limited
NYSE:FENG
|
$21.17 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Safe Bulkers Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 831,618,000 to 830,707,000, a change of -911,000 (-0.1%).
- Net income of 38,563,000 contributed positively to equity growth.
- Dividend payments of 28,610,000 reduced retained earnings.
- Share repurchases of 11,014,000 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $38.56 Million | +4.64% |
| Dividends Paid | $28.61 Million | -3.44% |
| Share Repurchases | $11.01 Million | -1.33% |
| Other Changes | $150.00K | +0.02% |
| Total Change | $- | -0.11% |
Book Value vs Market Value Analysis
This analysis compares Safe Bulkers Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.76x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 1.45x to 0.76x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | $4.20 | $6.09 | x |
| 2007-12-31 | $1.00 | $6.09 | x |
| 2008-12-31 | $-0.65 | $6.09 | x |
| 2009-12-31 | $1.78 | $6.09 | x |
| 2010-12-31 | $3.86 | $6.09 | x |
| 2011-12-31 | $4.78 | $6.09 | x |
| 2012-12-31 | $5.64 | $6.09 | x |
| 2013-12-31 | $7.46 | $6.09 | x |
| 2014-12-31 | $8.39 | $6.09 | x |
| 2015-12-31 | $7.60 | $6.09 | x |
| 2016-12-31 | $6.84 | $6.09 | x |
| 2017-12-31 | $4.52 | $6.09 | x |
| 2018-12-31 | $4.58 | $6.09 | x |
| 2019-12-31 | $4.65 | $6.09 | x |
| 2020-12-31 | $4.17 | $6.09 | x |
| 2021-12-31 | $5.97 | $6.09 | x |
| 2022-12-31 | $6.40 | $6.09 | x |
| 2023-12-31 | $6.98 | $6.09 | x |
| 2024-12-31 | $7.73 | $6.09 | x |
| 2025-12-31 | $8.06 | $6.09 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Safe Bulkers Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 4.64%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 13.99%
- • Asset Turnover: 0.20x
- • Equity Multiplier: 1.69x
- Recent ROE (4.64%) is below the historical average (37.64%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 42.45% | 102.01% | 0.18x | 2.34x | $74.32 Million |
| 2007 | 384.57% | 126.14% | 0.41x | 7.49x | $203.76 Million |
| 2008 | 0.00% | 59.38% | 0.42x | 0.00x | $122.77 Million |
| 2009 | 170.14% | 100.49% | 0.26x | 6.47x | $155.69 Million |
| 2010 | 44.91% | 69.83% | 0.19x | 3.30x | $85.23 Million |
| 2011 | 27.04% | 53.13% | 0.19x | 2.64x | $56.55 Million |
| 2012 | 22.57% | 52.16% | 0.17x | 2.54x | $53.53 Million |
| 2013 | 14.40% | 44.59% | 0.17x | 1.92x | $25.42 Million |
| 2014 | 2.09% | 9.50% | 0.13x | 1.69x | $-55.38 Million |
| 2015 | -7.56% | -37.66% | 0.10x | 2.07x | $-111.36 Million |
| 2016 | -9.67% | -50.98% | 0.09x | 2.03x | $-113.82 Million |
| 2017 | -18.56% | -57.20% | 0.14x | 2.27x | $-130.31 Million |
| 2018 | 5.94% | 14.33% | 0.18x | 2.31x | $-18.90 Million |
| 2019 | 3.39% | 8.11% | 0.18x | 2.36x | $-31.24 Million |
| 2020 | -3.02% | -6.51% | 0.18x | 2.59x | $-55.66 Million |
| 2021 | 25.67% | 52.99% | 0.30x | 1.61x | $106.42 Million |
| 2022 | 22.35% | 49.34% | 0.28x | 1.61x | $95.36 Million |
| 2023 | 9.76% | 27.20% | 0.21x | 1.69x | $-1.90 Million |
| 2024 | 11.71% | 31.65% | 0.22x | 1.69x | $14.21 Million |
| 2025 | 4.64% | 13.99% | 0.20x | 1.69x | $-44.51 Million |
Industry Comparison
This section compares Safe Bulkers Inc's net assets metrics with peer companies in the Marine Shipping industry.
Industry Context
- Industry: Marine Shipping
- Average net assets among peers: $6,996,338,635
- Average return on equity (ROE) among peers: 158.86%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Safe Bulkers Inc (SB) | $830.71 Million | 42.45% | 0.69x | $21.20 Million |
| Algoma Central Corporation (AGMJF) | $726.02 Million | 16.52% | 0.88x | $198.30 Million |
| AP Moeller - Maersk A/S A (AMKAF) | $32.09 Billion | -6.04% | 0.90x | $11.30 Billion |
| A.P. Møller - Mærsk A/S (AMKBF) | $33.38 Billion | 9.46% | 0.70x | $12.49 Billion |
| Ardmore Shpng (ASC) | $634.34 Million | 6.47% | 0.24x | $516.76 Million |
| American Shipping Company ASA (ASCJF) | $114.51 Million | 1340.53% | 0.68x | $11.92 Million |
| Britannia Bulk Holdings Inc (BBLKF) | $72.78 Million | 63.23% | 4.43x | $9.84 |
| Braemar Shipping Services Plc (BSEAF) | $64.82 Million | 15.12% | 0.70x | $79.62 Million |
| BW LPG Limited (BWLP) | $1.94 Billion | 17.27% | 0.71x | $1.17 Billion |
| Caravelle International Group Ordinary Shares (CACO) | $10.02 Million | 122.03% | 2.55x | $12.08 Million |
| Capital Clean Energy Carriers Corp. (CCEC) | $933.40 Million | 4.05% | 0.57x | $172.78 Million |