Safe Bulkers
SB on NYSE. Deep sea foreign transportation of freight. Market value $1.0bn.
This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to December 2025.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Industrials stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
You pay 18.4 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 8 cents a year. Above 10 is good.
Quality score: not known. Price score: 62 of 100. Our list needs 70 on quality and 60 on price.
$8.58 a share, 107% above its 1-year low
Over the past year the price has ranged from $4.14 to $9.31.
Dividend: 3.3% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | n/a | n/a | n/a | n/a | n/a |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | 0.56 | 0.55 | 0.65 | 0.66 | 0.66 |
| Shares outstanding | |||||
| Shares outstanding | 0.12bn | 0.11bn | 0.11bn | 0.10bn | 0.10bn |
Health checks
- Free cash flow positiveNot enough data
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Yes
- Debt0.66× equity
- Revenue growth, five yearsUnknown
- Buying back its own sharesYes, 16% fewer since 2021
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 4 March 2026
- Next quarterly (estimated, 10-Q)
- n/a
Who owns it
1 long-term investor we follow owns it, unchanged from 1 last quarter. 160 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| LSV Asset ManagementJosef Lakonishok | $10m | <0.1% | Cut |
Largest holders overall
- Goldman Sachs Group$26mCut
- BlackRock$22mAdded
- Renaissance Technologies$18mCut
- Fearnley Asset Management AS$15mAdded
- TWO Sigma Investments, LP$11mCut
- State Street$10mAdded
- Acadian Asset Management$10mAdded
- LSV Asset Management$10mCut
- UBS Group AG$9mAdded
- Arrowstreet Capital, Limited Partnership$9mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- Polys Hajioannouat least 48.5%(filed with 2 related holders)Since 14 October 2025
What they said
Reference is made to the discussion in the Explanatory Note above which is incorporated herein by reference.
Read the filing - Polys HajioannouInsider or founderat least 43.8%−3.7 pts(filed with 7 related holders)Since 9 September 2026
What they said
Item 4 is hereby amended and supplemented by the following: On September 9, 2026, the Issuer placed 12,000,000 new shares of the Common Stock (such shares, the "Offer Shares" and such transaction, the "Private Placement") to selected institutional investors who participated an…
Read the filing
| Holder | Stake | Since | |
|---|---|---|---|
Polys Hajioannou | at least 48.5% (filed with 2 related holders) | 14 October 2025 | What they saidReference is made to the discussion in the Explanatory Note above which is incorporated herein by reference. Read the filing |
Polys Hajioannou Insider or founder | at least 43.8%−3.7 pts (filed with 7 related holders) | 9 September 2026 | What they saidItem 4 is hereby amended and supplemented by the following: On September 9, 2026, the Issuer placed 12,000,000 new shares of the Common Stock (such shares, the "Offer Shares" and such transaction, the "Private Placement") to selected institutional investors who participated an… Read the filing |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.