company background image
EDRY

EuroDryNasdaqCM:EDRY Stock Report

Market Cap

US$88.2m

7D

17.3%

1Y

656.1%

Updated

19 Oct, 2021

Data

Company Financials +
EDRY fundamental analysis
Snowflake Score
Valuation2/6
Future Growth1/6
Past Performance2/6
Financial Health2/6
Dividends0/6

EDRY Overview

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide.

EuroDry Competitors

Star Bulk Carriers

NasdaqGS:SBLK

US$2.3b

Navios Maritime Partners

NYSE:NMM

US$884.7m

Genco Shipping & Trading

NYSE:GNK

US$762.9m

Eagle Bulk Shipping

NasdaqGS:EGLE

US$629.7m

Price History & Performance

Summary of all time highs, changes and price drops for EuroDry
Historical stock prices
Current Share PriceUS$31.00
52 Week HighUS$3.70
52 Week LowUS$34.65
Beta0.24
1 Month Change-4.29%
3 Month Change27.63%
1 Year Change656.10%
3 Year Change163.83%
5 Year Changen/a
Change since IPO310.60%

Recent News & Updates

Sep 05

EuroDry: Forgotten And Undervalued

The dry bulk carrier industry continues to delight investors with the promise of even better returns in the coming quarters. The recent 6% dip of EDRY seems to be unexplained and not justified by any public information. The company is stronger than ever financially, having high operating leverage to capitalize on the current high rates. However, this leverage also increases operational risks if the shipping euphoria ends ahead of time. The fundamental valuation of the company speaks of its attractiveness, so I recommend buying the recent dip and holding at least for the short- or medium-term.

Shareholder Returns

EDRYUS ShippingUS Market
7D17.3%0.7%4.0%
1Y656.1%105.9%30.5%

Return vs Industry: EDRY exceeded the US Shipping industry which returned 108.3% over the past year.

Return vs Market: EDRY exceeded the US Market which returned 30% over the past year.

Price Volatility

Is EDRY's price volatile compared to industry and market?
EDRY volatility
EDRY Beta0.24
Industry Beta1.33
Market Beta1

Stable Share Price: EDRY is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: EDRY's weekly volatility has decreased from 17% to 11% over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
2018n/aAristides Pittashttps://www.eurodry.gr

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. As of March 31, 2021, it operated a fleet of seven drybulk carriers comprising four Panamax drybulk carriers, one Ultramax drybulk carrier, and two Kamsarmax carriers with a cargo capacity of 528,931 deadweight tons.

EuroDry Fundamentals Summary

How do EuroDry's earnings and revenue compare to its market cap?
EDRY fundamental statistics
Market CapUS$88.17m
Earnings (TTM)US$1.81m
Revenue (TTM)US$35.87m

48.8x

P/E Ratio

2.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
EDRY income statement (TTM)
RevenueUS$35.87m
Cost of RevenueUS$12.11m
Gross ProfitUS$23.76m
ExpensesUS$21.96m
EarningsUS$1.81m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.64
Gross Margin66.25%
Net Profit Margin5.04%
Debt/Equity Ratio106.8%

How did EDRY perform over the long term?

See historical performance and comparison

Valuation

Is EuroDry 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: EDRY ($31) is trading below our estimate of fair value ($67.91)

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


Price To Earnings Ratio

PE vs Industry: EDRY is poor value based on its PE Ratio (48.8x) compared to the US Shipping industry average (10.8x).

PE vs Market: EDRY is poor value based on its PE Ratio (48.8x) compared to the US market (18.1x).


Price to Earnings Growth Ratio

PEG Ratio: EDRY's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: EDRY is overvalued based on its PB Ratio (2x) compared to the US Shipping industry average (1.1x).


Future Growth

How is EuroDry forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-5.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EDRY's earnings are forecast to decline over the next 3 years (-5.3% per year).

Earnings vs Market: EDRY's earnings are forecast to decline over the next 3 years (-5.3% per year).

High Growth Earnings: EDRY's earnings are forecast to decline over the next 3 years.

Revenue vs Market: EDRY's revenue is expected to decline over the next 3 years (-5.9% per year).

High Growth Revenue: EDRY's revenue is forecast to decline over the next 3 years (-5.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: EDRY's Return on Equity is forecast to be high in 3 years time (26.6%)


Past Performance

How has EuroDry performed over the past 5 years?

-12.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EDRY has a large one-off loss of $1.6M impacting its June 30 2021 financial results.

Growing Profit Margin: EDRY became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: EDRY has become profitable over the past 5 years, growing earnings by -12.3% per year.

Accelerating Growth: EDRY has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: EDRY has become profitable in the last year, making it difficult to compare its past year earnings growth to the Shipping industry (359.5%).


Return on Equity

High ROE: EDRY's Return on Equity (5.7%) is considered low.


Financial Health

How is EuroDry's financial position?


Financial Position Analysis

Short Term Liabilities: EDRY's short term assets ($18.0M) do not cover its short term liabilities ($22.5M).

Long Term Liabilities: EDRY's short term assets ($18.0M) do not cover its long term liabilities ($47.4M).


Debt to Equity History and Analysis

Debt Level: EDRY's debt to equity ratio (106.8%) is considered high.

Reducing Debt: Insufficient data to determine if EDRY's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: EDRY's debt is well covered by operating cash flow (20.2%).

Interest Coverage: EDRY's interest payments on its debt are well covered by EBIT (6.1x coverage).


Balance Sheet


Dividend

What is EuroDry current dividend yield, its reliability and sustainability?

12.68%

Forecast Dividend Yield


Dividend Yield vs Market

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

High Dividend: Unable to evaluate EDRY'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 EDRY's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

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


Next Steps

Management

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

3.4yrs

Average management tenure


CEO

Aristides Pittas (61 yo)

3.75yrs

Tenure

Mr. Aristides J. Pittas has been the Chairman and Chief Executive Officer at Euroseas, Ltd. since May 5, 2005 and serves as its President. Mr. Pittas has been the President of Eurochart S.A., since 1997.H...


Leadership Team

Experienced Management: EDRY's management team is considered experienced (3.4 years average tenure).


Board Members

Experienced Board: EDRY's board of directors are considered experienced (3.4 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 23.4%.


Top Shareholders

Company Information

EuroDry Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: EuroDry Ltd.
  • Ticker: EDRY
  • Exchange: NasdaqCM
  • Founded: 2018
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: US$88.173m
  • Shares outstanding: 2.84m
  • Website: https://www.eurodry.gr

Location

  • EuroDry Ltd.
  • 4 Messogiou & Evropis Street
  • Marousi
  • 151 24
  • Greece

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/19 23:52
End of Day Share Price2021/10/19 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.