DB:4FAP

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide.


Snowflake Analysis

Reasonable growth potential and fair value.


Similar Companies

Share Price & News

How has Star Bulk Carriers's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 4FAP's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

9.9%

4FAP

5.0%

DE Shipping

3.1%

DE Market


1 Year Return

-22.1%

4FAP

14.2%

DE Shipping

14.0%

DE Market

Return vs Industry: 4FAP underperformed the German Shipping industry which returned 14.2% over the past year.

Return vs Market: 4FAP underperformed the German Market which returned 14% over the past year.


Shareholder returns

4FAPIndustryMarket
7 Day9.9%5.0%3.1%
30 Day14.0%6.4%2.3%
90 Day62.3%-18.3%18.4%
1 Year-21.2%-22.1%16.0%14.2%16.5%14.0%
3 Year-29.1%-29.9%-6.1%-17.1%7.4%-1.2%
5 Year-38.0%-38.7%10.4%-10.0%23.8%7.2%

Price Volatility Vs. Market

How volatile is Star Bulk Carriers's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Star Bulk Carriers undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 4FAP (€6.2) is trading below our estimate of fair value (€25.13)

Significantly Below Fair Value: 4FAP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 4FAP is unprofitable, so we can't compare its PE Ratio to the XE Shipping industry average.

PE vs Market: 4FAP is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 4FAP's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 4FAP is good value based on its PB Ratio (0.5x) compared to the XE Shipping industry average (0.7x).


Next Steps

Future Growth

How is Star Bulk Carriers forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

63.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 4FAP is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.2%).

Earnings vs Market: 4FAP is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: 4FAP's is expected to become profitable in the next 3 years.

Revenue vs Market: 4FAP's revenue (6.6% per year) is forecast to grow faster than the German market (5.8% per year).

High Growth Revenue: 4FAP's revenue (6.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 4FAP's Return on Equity is forecast to be low in 3 years time (13.2%).


Next Steps

Past Performance

How has Star Bulk Carriers performed over the past 5 years?

60.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 4FAP is currently unprofitable.

Growing Profit Margin: 4FAP is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 4FAP is unprofitable, but has reduced losses over the past 5 years at a rate of 60.8% per year.

Accelerating Growth: Unable to compare 4FAP's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 4FAP is unprofitable, making it difficult to compare its past year earnings growth to the Shipping industry (-8.7%).


Return on Equity

High ROE: 4FAP has a negative Return on Equity (-0.81%), as it is currently unprofitable.


Next Steps

Financial Health

How is Star Bulk Carriers's financial position?


Financial Position Analysis

Short Term Liabilities: 4FAP's short term assets ($223.5M) do not cover its short term liabilities ($324.5M).

Long Term Liabilities: 4FAP's short term assets ($223.5M) do not cover its long term liabilities ($1.3B).


Debt to Equity History and Analysis

Debt Level: 4FAP's debt to equity ratio (76.2%) is considered high.

Reducing Debt: 4FAP's debt to equity ratio has increased from 64.1% to 76.2% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: 4FAP has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if 4FAP has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Star Bulk Carriers's current dividend yield, its reliability and sustainability?

10.10%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 4FAP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 4FAP's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 4FAP's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 4FAP's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 4FAP is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 4FAP's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.1yrs

Average management tenure


CEO

Petros Pappas (67 yo)

6.08yrs

Tenure

US$9,890

Compensation

Mr. Petros A. Pappas is a Founder of Star Bulk Carriers Corp. and has been its Chief Executive Officer since July 2014. Mr. Pappas serves as Principal Executive Officer of Star Cosmo LLC, Star Alpha LLC, S ...


Leadership Team

NamePositionTenureCompensationOwnership
Petros Pappas
Founder6.08yrsUS$9.89k4.26%
$ 25.8m
Hamish Norton
President6.08yrsno datano data
Simos Spyrou
Co-Chief Financial Officer8.92yrsno datano data
Christos Begleris
Co-Chief Financial Officer6.08yrsno data0.14%
$ 858.6k
Nicos Rescos
Chief Operating Officer6.08yrsno datano data
Zenon Kleopas
Executive Vice President of Technical Operationsno datano datano data
Georgia Mastagaki
Co-General Counselno datano datano data
Charis Plakantonaki
Chief Strategy Officer3.33yrsno datano data
Herman Billung
Senior Vice President2.08yrsno datano data
Constantinos Simantiras
Head of Market Researchno datano datano data

6.1yrs

Average Tenure

48yo

Average Age

Experienced Management: 4FAP's management team is seasoned and experienced (6.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Petros Pappas
Founder6.08yrsUS$9.89k4.26%
$ 25.8m
Arne Blystad
Director2.08yrsno data2.25%
$ 13.6m
Koert Erhardt
Independent Directorno dataUS$35.67k0.078%
$ 472.1k
Spyros Capralos
Independent Non-Executive Chairman6.08yrsUS$15.49k0.27%
$ 1.6m
Brian Laibow
Director0.58yrno datano data
Mahesh Balakrishnan
Independent Director5.5yrsno data0.0049%
$ 29.5k
Katherine Ralph
Director0.25yrno datano data
Nikolaos Karellis
Independent Director4.25yrsno data0.042%
$ 256.3k
Eleni Vrettou
Director0.25yrno datano data
Raffaele Zagari
Director2yrsno datano data
Dawna Men
Director0.58yrno datano data

2.0yrs

Average Tenure

64.5yo

Average Age

Experienced Board: 4FAP's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: 4FAP insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Star Bulk Carriers Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Star Bulk Carriers Corp.
  • Ticker: 4FAP
  • Exchange: DB
  • Founded: 2006
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: US$714.742m
  • Listing Market Cap: US$604.243m
  • Shares outstanding: 96.07m
  • Website: https://www.starbulk.com

Number of Employees


Location

  • Star Bulk Carriers Corp.
  • 40 Agiou Konstantinou Street
  • Marousi
  • 15124
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SBLKNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJul 2014
4FAPDB (Deutsche Boerse AG)YesCommon StockDEEURJul 2014

Biography

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company’s vessels transport a range of major bulks, including iron ores, coal, and grain ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/14 10:12
End of Day Share Price2020/08/13 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.