STAR BULK CARRIERS CORP (SBLK) Stock Fundamental Analysis
NASDAQ:SBLK - Nasdaq - MHY8162K2046 - Common Stock - Currency: USD
We assign a fundamental rating of 5 out of 10 to SBLK. SBLK was compared to 29 industry peers in the Marine Transportation industry. SBLK has only an average score on both its financial health and profitability. SBLK is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
SBLK had positive earnings in the past year.
In the past year SBLK had a positive cash flow from operations.
Of the past 5 years SBLK 4 years were profitable.
SBLK had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
SBLK has a better Return On Assets (7.26%) than 60.71% of its industry peers.
SBLK has a Return On Equity (12.02%) which is in line with its industry peers.
Looking at the Return On Invested Capital, with a value of 7.76%, SBLK is in the better half of the industry, outperforming 64.29% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for SBLK is above the industry average of 8.54%.
The last Return On Invested Capital (7.76%) for SBLK is well below the 3 year average (13.16%), which needs to be investigated, but indicates that SBLK had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.26% | ||
| ROE | 12.02% | ||
| ROIC | 7.76% |
ROA(3y)13.45%
ROA(5y)8.03%
ROE(3y)23.73%
ROE(5y)14.16%
ROIC(3y)13.17%
ROIC(5y)8.69%
1.3 Margins
Looking at the Profit Margin, with a value of 24.75%, SBLK is in the better half of the industry, outperforming 64.29% of the companies in the same industry.
SBLK's Profit Margin has improved in the last couple of years.
The Operating Margin of SBLK (30.15%) is comparable to the rest of the industry.
SBLK's Operating Margin has improved in the last couple of years.
With a Gross Margin value of 52.63%, SBLK perfoms like the industry average, outperforming 42.86% of the companies in the same industry.
SBLK's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 30.15% | ||
| PM (TTM) | 24.75% | ||
| GM | 52.63% |
OM growth 3Y36.77%
OM growth 5Y1.66%
PM growth 3Y135.53%
PM growth 5Y15.33%
GM growth 3Y2.59%
GM growth 5Y-5.31%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so SBLK is creating value.
There is no outstanding debt for SBLK. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
2.2 Solvency
Based on the Altman-Z score of 1.16, we must say that SBLK is in the distress zone and has some risk of bankruptcy.
SBLK has a Altman-Z score (1.16) which is in line with its industry peers.
SBLK has a debt to FCF ratio of 3.12. This is a good value and a sign of high solvency as SBLK would need 3.12 years to pay back of all of its debts.
SBLK has a better Debt to FCF ratio (3.12) than 67.86% of its industry peers.
SBLK has a Debt/Equity ratio of 0.44. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.44, SBLK is in line with its industry, outperforming 57.14% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.44 | ||
| Debt/FCF | 3.12 | ||
| Altman-Z | 1.16 |
ROIC/WACC1.21
WACC6.44%
2.3 Liquidity
SBLK has a Current Ratio of 1.69. This is a normal value and indicates that SBLK is financially healthy and should not expect problems in meeting its short term obligations.
SBLK has a Current ratio of 1.69. This is in the better half of the industry: SBLK outperforms 60.71% of its industry peers.
A Quick Ratio of 1.50 indicates that SBLK should not have too much problems paying its short term obligations.
The Quick ratio of SBLK (1.50) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.69 | ||
| Quick Ratio | 1.5 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 42.11% over the past year.
SBLK shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 59.69% yearly.
EPS 1Y (TTM)42.11%
EPS 3Y-26.39%
EPS 5Y59.69%
EPS Q2Q%-53.42%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%17.25%
3.2 Future
SBLK is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.42% yearly.
Based on estimates for the next years, SBLK will show a decrease in Revenue. The Revenue will decrease by -1.51% on average per year.
EPS Next Y1.92%
EPS Next 2Y15.05%
EPS Next 3Y6.42%
EPS Next 5YN/A
Revenue Next Year1.33%
Revenue Next 2Y9.01%
Revenue Next 3Y-1.51%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 5.69, which indicates a rather cheap valuation of SBLK.
SBLK's Price/Earnings is on the same level as the industry average.
When comparing the Price/Earnings ratio of SBLK to the average of the S&P500 Index (29.63), we can say SBLK is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 5.58, the valuation of SBLK can be described as very cheap.
Compared to the rest of the industry, the Price/Forward Earnings ratio of SBLK indicates a somewhat cheap valuation: SBLK is cheaper than 71.43% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of SBLK to the average of the S&P500 Index (22.68), we can say SBLK is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.69 | ||
| Fwd PE | 5.58 |
4.2 Price Multiples
SBLK's Enterprise Value to EBITDA ratio is in line with the industry average.
64.29% of the companies in the same industry are more expensive than SBLK, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.21 | ||
| EV/EBITDA | 5.2 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates SBLK does not grow enough to justify the current Price/Earnings ratio.
SBLK has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.95
PEG (5Y)0.1
EPS Next 2Y15.05%
EPS Next 3Y6.42%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 13.38%, SBLK is a good candidate for dividend investing.
SBLK's Dividend Yield is rather good when compared to the industry average which is at 13.73. SBLK pays more dividend than 89.29% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.27, SBLK pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.38% |
5.2 History
SBLK has paid a dividend for at least 10 years, which is a reliable track record.
SBLK has decreased its dividend recently.
Dividend Growth(5Y)N/A
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
SBLK pays out 74.41% of its income as dividend. This is not a sustainable payout ratio.
DP74.41%
EPS Next 2Y15.05%
EPS Next 3Y6.42%
15.35
-0.65 (-4.06%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners35.1%
Inst Owner Change-16.12%
Ins Owners3.43%
Ins Owner ChangeN/A
Market Cap1.81B
Analysts80
Price Target23.59 (53.68%)
Short Float %2.74%
Short Ratio1.57
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.38% |
Yearly Dividend1.69
Dividend Growth(5Y)N/A
DP74.41%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-18.12%
Min EPS beat(2)-28.83%
Max EPS beat(2)-7.42%
EPS beat(4)1
Avg EPS beat(4)-8.16%
Min EPS beat(4)-28.83%
Max EPS beat(4)5.3%
EPS beat(8)4
Avg EPS beat(8)-1.36%
EPS beat(12)7
Avg EPS beat(12)2.22%
EPS beat(16)9
Avg EPS beat(16)2.44%
Revenue beat(2)2
Avg Revenue beat(2)20.45%
Min Revenue beat(2)17.15%
Max Revenue beat(2)23.76%
Revenue beat(4)4
Avg Revenue beat(4)22.81%
Min Revenue beat(4)17.15%
Max Revenue beat(4)27.23%
Revenue beat(8)6
Avg Revenue beat(8)13.31%
Revenue beat(12)10
Avg Revenue beat(12)16.27%
Revenue beat(16)14
Avg Revenue beat(16)15.57%
PT rev (1m)-7.05%
PT rev (3m)-14.84%
EPS NQ rev (1m)-3.43%
EPS NQ rev (3m)-64.67%
EPS NY rev (1m)-0.45%
EPS NY rev (3m)-30.26%
Revenue NQ rev (1m)-8.38%
Revenue NQ rev (3m)-35.93%
Revenue NY rev (1m)-0.09%
Revenue NY rev (3m)-9.73%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.69 | ||
| Fwd PE | 5.58 | ||
| P/S | 1.48 | ||
| P/FCF | 4.21 | ||
| P/OCF | 3.74 | ||
| P/B | 0.72 | ||
| P/tB | 0.72 | ||
| EV/EBITDA | 5.2 |
EPS(TTM)2.7
EY17.59%
EPS(NY)2.75
Fwd EY17.93%
FCF(TTM)3.65
FCFY23.78%
OCF(TTM)4.1
OCFY26.71%
SpS10.35
BVpS21.31
TBVpS21.31
PEG (NY)2.95
PEG (5Y)0.1
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.26% | ||
| ROE | 12.02% | ||
| ROCE | 9.83% | ||
| ROIC | 7.76% | ||
| ROICexc | 8.83% | ||
| ROICexgc | 8.83% | ||
| OM | 30.15% | ||
| PM (TTM) | 24.75% | ||
| GM | 52.63% | ||
| FCFM | 35.27% |
ROA(3y)13.45%
ROA(5y)8.03%
ROE(3y)23.73%
ROE(5y)14.16%
ROIC(3y)13.17%
ROIC(5y)8.69%
ROICexc(3y)14.74%
ROICexc(5y)9.68%
ROICexgc(3y)14.74%
ROICexgc(5y)9.68%
ROCE(3y)16.66%
ROCE(5y)11%
ROICexcg growth 3Y58.58%
ROICexcg growth 5Y11.24%
ROICexc growth 3Y58.58%
ROICexc growth 5Y11.24%
OM growth 3Y36.77%
OM growth 5Y1.66%
PM growth 3Y135.53%
PM growth 5Y15.33%
GM growth 3Y2.59%
GM growth 5Y-5.31%
F-Score8
Asset Turnover0.29
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.44 | ||
| Debt/FCF | 3.12 | ||
| Debt/EBITDA | 2.09 | ||
| Cap/Depr | 32% | ||
| Cap/Sales | 4.35% | ||
| Interest Coverage | 4.6 | ||
| Cash Conversion | 90.56% | ||
| Profit Quality | 142.54% | ||
| Current Ratio | 1.69 | ||
| Quick Ratio | 1.5 | ||
| Altman-Z | 1.16 |
F-Score8
WACC6.44%
ROIC/WACC1.21
Cap/Depr(3y)37.89%
Cap/Depr(5y)88.72%
Cap/Sales(3y)4.26%
Cap/Sales(5y)13.09%
Profit Quality(3y)136.06%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)42.11%
EPS 3Y-26.39%
EPS 5Y59.69%
EPS Q2Q%-53.42%
EPS Next Y1.92%
EPS Next 2Y15.05%
EPS Next 3Y6.42%
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%17.25%
Revenue Next Year1.33%
Revenue Next 2Y9.01%
Revenue Next 3Y-1.51%
Revenue Next 5YN/A
EBIT growth 1Y43.54%
EBIT growth 3Y51.88%
EBIT growth 5Y9.6%
EBIT Next Year116.53%
EBIT Next 3Y39.19%
EBIT Next 5Y23.16%
FCF growth 1Y-53.38%
FCF growth 3Y47.75%
FCF growth 5YN/A
OCF growth 1Y-49.11%
OCF growth 3Y25.32%
OCF growth 5Y14.72%