Safe Bulkers (SB) Financial Statements & Analysis

Safe Bulkers (SB) Income Statement

Safe Bulkers reported revenue of $275.74M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 10.4% from $307.63M a year earlier. Net income was $30.56M, down 68.6% year over year, a net margin of 11.1%. Gross margin was 57.6% and operating margin 25.4%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $87.46M, up 33.0% from the same quarter a year earlier.

Safe Bulkers Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Safe Bulkers, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	275.74	307.63	284.40	349.72	329.03	198.16	197.76	193.19	148.03
Cost of Revenue	116.10	167.46	165.00	89.51	134.17	165.94	132.59	117.96	108.15
Gross Profit	158.94	140.17	119.41	259.54	194.87	32.22	65.17	75.23	39.88
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	29.85	27.04	23.76	21.80	22.50	21.50	20.64	19.24	16.12
Operating Expenses	88.97	28.30	25.63	74.89	22.50	21.50	20.64	19.24	16.12
Operating Income	69.97	111.87	93.77	184.65	172.37	10.72	44.53	55.99	23.76
Other Income/Expense
Interest Income	5.12	3.40	2.50	0.78	0.07	0.60	1.56	0.93	8.45
Interest Expense	-33.09	34.95	27.94	-13.82	18.42	23.60	29.37	28.48	25.68
Other Income/Expense	-31.40	-14.50	-16.42	-12.09	1.98	-23.62	-28.49	-28.31	-108.44
Income
Income Before Tax	38.56	97.38	77.35	172.55	174.35	-12.91	16.04	27.68	-84.68
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Income	30.56	97.38	77.35	163.58	174.35	-12.91	16.04	27.68	-84.68
Net Income - Continuous Operations	38.56	97.38	77.35	172.55	174.35	-12.91	16.04	27.68	-84.68
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	125.25	190.46	159.42	234.17	245.13	64.96	95.72	104.23	-7.57
EBIT	65.37	128.75	102.06	184.65	189.07	-	-	-	-
Depreciation & Amortization	59.88	58.14	54.13	49.52	52.36	54.27	50.31	48.07	51.42
Earnings Per Share
Basic EPS	-	1.00	1.00	1.00	1.00	-	-	-	-1.00
Diluted EPS	-	1.00	1.00	1.00	1.00	-	-	-	-1.00
Basic Shares Outstanding	103.04	107.58	113.62	120.65	113.72	102.62	101.69	101.60	100.93
Diluted Shares Outstanding	103.04	107.58	113.62	120.65	113.72	102.62	101.69	101.60	100.93

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Safe Bulkers Financial Statements

What was Safe Bulkers's revenue in fiscal 2025?

Safe Bulkers reported revenue of $275.74M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 10.4% from $307.63M a year earlier.

Is Safe Bulkers profitable?

Yes. Safe Bulkers earned net income of $30.56M in fiscal 2025, a net margin of 11.1%. In fiscal 2024 it earned $97.38M.

What is Safe Bulkers's operating margin?

Safe Bulkers's operating income was $69.97M on revenue of $275.74M in fiscal 2025, an operating margin of 25.4%, compared with 36.4% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition