Safe Bulkers Inc (SB) - Net Assets
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. Check tangible net worth ratio of Safe Bulkers Inc to evaluate the tangible quality of the company's equity base.
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. See Safe Bulkers Inc liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
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. For live valuation and market cap data, see Safe Bulkers Inc stock valuation.
| 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 |
|---|---|
|
Beijing North Star Co Ltd Class A
SHG:601588
|
$685.07 Million |
|
GCM Grosvenor Inc
NASDAQ:GCMG
|
$685.35 Million |
|
Cryoport Inc
NASDAQ:CYRX
|
$685.47 Million |
|
Placoplatre SA
PA:MLPLC
|
$685.48 Million |
|
SunCoke Energy Inc
NYSE:SXC
|
$684.94 Million |
|
Guangdong Super Telecom
SHG:603322
|
$684.88 Million |
|
Shenzhen Topway Video Communication Co Ltd
SHE:002238
|
$684.67 Million |
|
Zhongyeda Electric Co Ltd
SHE:002441
|
$684.48 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: 0.83x
- 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 1.59x to 0.83x 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 | $6.70 | x |
| 2007-12-31 | $1.00 | $6.70 | x |
| 2008-12-31 | $-0.65 | $6.70 | x |
| 2009-12-31 | $1.78 | $6.70 | x |
| 2010-12-31 | $3.86 | $6.70 | x |
| 2011-12-31 | $4.78 | $6.70 | x |
| 2012-12-31 | $5.64 | $6.70 | x |
| 2013-12-31 | $7.46 | $6.70 | x |
| 2014-12-31 | $8.39 | $6.70 | x |
| 2015-12-31 | $7.60 | $6.70 | x |
| 2016-12-31 | $6.84 | $6.70 | x |
| 2017-12-31 | $4.52 | $6.70 | x |
| 2018-12-31 | $4.75 | $6.70 | x |
| 2019-12-31 | $4.82 | $6.70 | x |
| 2020-12-31 | $4.33 | $6.70 | x |
| 2021-12-31 | $5.97 | $6.70 | x |
| 2022-12-31 | $6.40 | $6.70 | x |
| 2023-12-31 | $6.98 | $6.70 | x |
| 2024-12-31 | $7.73 | $6.70 | x |
| 2025-12-31 | $8.06 | $6.70 | 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 (37.63%), 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 | 5.73% | 14.33% | 0.18x | 2.23x | $-20.60 Million |
| 2019 | 3.27% | 8.11% | 0.18x | 2.28x | $-32.96 Million |
| 2020 | -2.90% | -6.51% | 0.18x | 2.49x | $-57.38 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: $627,049,434
- Average return on equity (ROE) among peers: 2.92%
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 | $685.04 Million |
| Ardmore Shpng (ASC) | $634.34 Million | 6.47% | 0.24x | $696.50 Million |
| Capital Clean Energy Carriers Corp. (CCEC) | $927.76 Million | 5.54% | 0.72x | $1.20 Billion |
| C3is Inc. (CISS) | $38.89 Million | 1.42% | 0.02x | $1.19 Million |
| Costamare Bulkers Holdings Limited (CMDB) | $781.77 Million | -5.39% | 0.40x | $408.65 Million |
| Costamare Inc (CMRE) | $1.73 Billion | 25.21% | 1.55x | $1.83 Billion |
| Castor Maritime Inc (CTRM) | $668.96 Million | 2.88% | 0.19x | $19.42 Million |
| Danaos Corporation (DAC) | $392.41 Million | -26.08% | 7.89x | $2.29 Billion |
| Diana Shipping Inc. (DSX) | $627.68 Million | 10.73% | 0.89x | $206.08 Million |
| Okeanis Eco Tankers Corp. (ECO) | $422.24 Million | 20.03% | 1.80x | $1.68 Billion |
| EuroDry Ltd (EDRY) | $50.54 Million | -11.63% | 1.13x | $64.11 Million |
About 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