STAR BULK CARRIERS CORP (SBLK) Stock Fundamental Analysis
NASDAQ:SBLK - Nasdaq - MHY8162K2046 - Common Stock - Currency: USD
We assign a fundamental rating of 6 out of 10 to SBLK. SBLK was compared to 34 industry peers in the Marine Transportation industry. SBLK has an excellent profitability rating, but there are some minor concerns on its financial health. SBLK has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year SBLK was profitable.
In the past year SBLK had a positive cash flow from operations.
Each year in the past 5 years SBLK has been profitable.
SBLK had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of SBLK (5.73%) is better than 73.53% of its industry peers.
With a decent Return On Equity value of 9.39%, SBLK is doing good in the industry, outperforming 67.65% of the companies in the same industry.
With a decent Return On Invested Capital value of 5.95%, SBLK is doing good in the industry, outperforming 61.76% of the companies in the same industry.
SBLK had an Average Return On Invested Capital over the past 3 years of 10.09%. This is above the industry average of 7.64%.
The last Return On Invested Capital (5.95%) for SBLK is well below the 3 year average (10.09%), which needs to be investigated, but indicates that SBLK had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.73% | ||
| ROE | 9.39% | ||
| ROIC | 5.95% |
ROA(3y)9.89%
ROA(5y)9.62%
ROE(3y)16.92%
ROE(5y)16.82%
ROIC(3y)10.09%
ROIC(5y)9.77%
1.3 Margins
SBLK has a better Profit Margin (18.62%) than 67.65% of its industry peers.
SBLK's Profit Margin has declined in the last couple of years.
With a Operating Margin value of 22.09%, SBLK perfoms like the industry average, outperforming 55.88% of the companies in the same industry.
SBLK's Operating Margin has improved in the last couple of years.
With a Gross Margin value of 48.69%, SBLK perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
SBLK's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 22.09% | ||
| PM (TTM) | 18.62% | ||
| GM | 48.69% |
OM growth 3Y-18.56%
OM growth 5Y23.9%
PM growth 3Y-20.37%
PM growth 5YN/A
GM growth 3Y-7.71%
GM growth 5Y2.37%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SBLK is creating some value.
The number of shares outstanding for SBLK has been increased compared to 1 year ago.
Compared to 5 years ago, SBLK has more shares outstanding
SBLK has a better debt/assets ratio than last year.
2.2 Solvency
SBLK has an Altman-Z score of 1.20. This is a bad value and indicates that SBLK is not financially healthy and even has some risk of bankruptcy.
SBLK has a better Altman-Z score (1.20) than 61.76% of its industry peers.
The Debt to FCF ratio of SBLK is 3.40, which is a good value as it means it would take SBLK, 3.40 years of fcf income to pay off all of its debts.
SBLK has a better Debt to FCF ratio (3.40) than 76.47% of its industry peers.
A Debt/Equity ratio of 0.42 indicates that SBLK is not too dependend on debt financing.
SBLK has a better Debt to Equity ratio (0.42) than 67.65% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.42 | ||
| Debt/FCF | 3.4 | ||
| Altman-Z | 1.2 |
ROIC/WACC0.71
WACC8.36%
2.3 Liquidity
A Current Ratio of 1.65 indicates that SBLK should not have too much problems paying its short term obligations.
The Current ratio of SBLK (1.65) is comparable to the rest of the industry.
SBLK has a Quick Ratio of 1.47. This is a normal value and indicates that SBLK is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of SBLK (1.47) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.65 | ||
| Quick Ratio | 1.47 |
3. Growth
3.1 Past
The earnings per share for SBLK have decreased strongly by -26.97% in the last year.
Measured over the past years, SBLK shows a very strong growth in Earnings Per Share. The EPS has been growing by 59.69% on average per year.
SBLK shows a strong growth in Revenue. In the last year, the Revenue has grown by 25.60%.
The Revenue has been growing by 9.03% on average over the past years. This is quite good.
EPS 1Y (TTM)-26.97%
EPS 3Y-26.39%
EPS 5Y59.69%
EPS Q2Q%-108.05%
Revenue 1Y (TTM)25.6%
Revenue growth 3Y-3.93%
Revenue growth 5Y9.03%
Sales Q2Q%-32.79%
3.2 Future
SBLK is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 12.31% yearly.
SBLK is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.62% yearly.
EPS Next Y-35.53%
EPS Next 2Y5.21%
EPS Next 3Y12.31%
EPS Next 5YN/A
Revenue Next Year-1.52%
Revenue Next 2Y6.4%
Revenue Next 3Y2.62%
Revenue Next 5YN/A
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 10.52, which indicates a very decent valuation of SBLK.
SBLK's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of SBLK to the average of the S&P500 Index (27.30), we can say SBLK is valued rather cheaply.
With a Price/Forward Earnings ratio of 6.20, the valuation of SBLK can be described as very cheap.
64.71% of the companies in the same industry are more expensive than SBLK, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of SBLK to the average of the S&P500 Index (21.76), we can say SBLK is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.52 | ||
| Fwd PE | 6.2 |
4.2 Price Multiples
SBLK's Enterprise Value to EBITDA is on the same level as the industry average.
Based on the Price/Free Cash Flow ratio, SBLK is valued a bit cheaper than the industry average as 76.47% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 5.92 | ||
| EV/EBITDA | 6.19 |
4.3 Compensation for Growth
SBLK has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as SBLK's earnings are expected to grow with 12.31% in the coming years.
PEG (NY)N/A
PEG (5Y)0.18
EPS Next 2Y5.21%
EPS Next 3Y12.31%
5. Dividend
5.1 Amount
SBLK has a Yearly Dividend Yield of 7.98%, which is a nice return.
SBLK's Dividend Yield is rather good when compared to the industry average which is at 7.55. SBLK pays more dividend than 88.24% of the companies in the same industry.
SBLK's Dividend Yield is rather good when compared to the S&P500 average which is at 2.37.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.98% |
5.2 History
On average, the dividend of SBLK grows each year by 121.96%, which is quite nice.
SBLK has been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of SBLK decreased recently.
Dividend Growth(5Y)121.96%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
108.32% of the earnings are spent on dividend by SBLK. This is not a sustainable payout ratio.
SBLK's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP108.32%
EPS Next 2Y5.21%
EPS Next 3Y12.31%
18.52
+0.5 (+2.77%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners33.68%
Inst Owner Change0%
Ins Owners3.65%
Ins Owner ChangeN/A
Market Cap2.16B
Analysts83.08
Price Target21.85 (17.98%)
Short Float %3.01%
Short Ratio2.01
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.98% |
Yearly Dividend2.75
Dividend Growth(5Y)121.96%
DP108.32%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)28.14%
Min EPS beat(2)-21.1%
Max EPS beat(2)77.38%
EPS beat(4)1
Avg EPS beat(4)5.01%
Min EPS beat(4)-28.83%
Max EPS beat(4)77.38%
EPS beat(8)3
Avg EPS beat(8)2.32%
EPS beat(12)6
Avg EPS beat(12)4.4%
EPS beat(16)9
Avg EPS beat(16)5.05%
Revenue beat(2)1
Avg Revenue beat(2)0.2%
Min Revenue beat(2)-2.57%
Max Revenue beat(2)2.97%
Revenue beat(4)3
Avg Revenue beat(4)10.33%
Min Revenue beat(4)-2.57%
Max Revenue beat(4)23.76%
Revenue beat(8)6
Avg Revenue beat(8)10.68%
Revenue beat(12)9
Avg Revenue beat(12)13.33%
Revenue beat(16)13
Avg Revenue beat(16)13.32%
PT rev (1m)2.89%
PT rev (3m)0.62%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-70%
EPS NY rev (1m)-8.54%
EPS NY rev (3m)-13.72%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-9.15%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.61%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.52 | ||
| Fwd PE | 6.2 | ||
| P/S | 1.75 | ||
| P/FCF | 5.92 | ||
| P/OCF | 5.33 | ||
| P/B | 0.88 | ||
| P/tB | 0.88 | ||
| EV/EBITDA | 6.19 |
EPS(TTM)1.76
EY9.5%
EPS(NY)2.99
Fwd EY16.14%
FCF(TTM)3.13
FCFY16.88%
OCF(TTM)3.47
OCFY18.74%
SpS10.59
BVpS21
TBVpS21
PEG (NY)N/A
PEG (5Y)0.18
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.73% | ||
| ROE | 9.39% | ||
| ROCE | 7.53% | ||
| ROIC | 5.95% | ||
| ROICexc | 6.75% | ||
| ROICexgc | 6.75% | ||
| OM | 22.09% | ||
| PM (TTM) | 18.62% | ||
| GM | 48.69% | ||
| FCFM | 29.52% |
ROA(3y)9.89%
ROA(5y)9.62%
ROE(3y)16.92%
ROE(5y)16.82%
ROIC(3y)10.09%
ROIC(5y)9.77%
ROICexc(3y)11.17%
ROICexc(5y)10.95%
ROICexgc(3y)11.17%
ROICexgc(5y)10.95%
ROCE(3y)12.78%
ROCE(5y)12.37%
ROICexcg growth 3Y-23.71%
ROICexcg growth 5Y31.21%
ROICexc growth 3Y-23.71%
ROICexc growth 5Y31.21%
OM growth 3Y-18.56%
OM growth 5Y23.9%
PM growth 3Y-20.37%
PM growth 5YN/A
GM growth 3Y-7.71%
GM growth 5Y2.37%
F-Score6
Asset Turnover0.31
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.42 | ||
| Debt/FCF | 3.4 | ||
| Debt/EBITDA | 2.18 | ||
| Cap/Depr | 20.46% | ||
| Cap/Sales | 3.26% | ||
| Interest Coverage | 3.23 | ||
| Cash Conversion | 86.17% | ||
| Profit Quality | 158.53% | ||
| Current Ratio | 1.65 | ||
| Quick Ratio | 1.47 | ||
| Altman-Z | 1.2 |
F-Score6
WACC8.36%
ROIC/WACC0.71
Cap/Depr(3y)19.54%
Cap/Depr(5y)38.91%
Cap/Sales(3y)2.68%
Cap/Sales(5y)5.51%
Profit Quality(3y)150.38%
Profit Quality(5y)312.04%
High Growth Momentum
Growth
EPS 1Y (TTM)-26.97%
EPS 3Y-26.39%
EPS 5Y59.69%
EPS Q2Q%-108.05%
EPS Next Y-35.53%
EPS Next 2Y5.21%
EPS Next 3Y12.31%
EPS Next 5YN/A
Revenue 1Y (TTM)25.6%
Revenue growth 3Y-3.93%
Revenue growth 5Y9.03%
Sales Q2Q%-32.79%
Revenue Next Year-1.52%
Revenue Next 2Y6.4%
Revenue Next 3Y2.62%
Revenue Next 5YN/A
EBIT growth 1Y4.63%
EBIT growth 3Y-21.76%
EBIT growth 5Y35.09%
EBIT Next Year29.27%
EBIT Next 3Y21.17%
EBIT Next 5YN/A
FCF growth 1Y-39.11%
FCF growth 3Y-13.24%
FCF growth 5YN/A
OCF growth 1Y-35.02%
OCF growth 3Y-15%
OCF growth 5Y39.72%