NasdaqCM:EDRY

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Imperfect balance sheet and overvalued.


Similar Companies

Share Price & News

How has EuroDry's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

4.4%

EDRY

0.1%

US Shipping

0.5%

US Market


1 Year Return

-31.2%

EDRY

-1.3%

US Shipping

6.8%

US Market

Return vs Industry: EDRY underperformed the US Shipping industry which returned -1.3% over the past year.

Return vs Market: EDRY underperformed the US Market which returned 6.8% over the past year.


Shareholder returns

EDRYIndustryMarket
7 Day4.4%0.1%0.5%
30 Day4.9%1.8%-0.8%
90 Day-2.7%3.3%-0.9%
1 Year-31.2%-31.2%0.3%-1.3%9.2%6.8%
3 Yearn/a21.1%12.8%45.6%36.2%
5 Yearn/a-59.1%-62.3%63.2%45.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is EuroDry undervalued compared to its fair value and its price relative to the market?

0.44x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate EDRY's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate EDRY's fair value to establish if it is undervalued.


Price To Earnings Ratio

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

PE vs Market: EDRY is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: EDRY is good value based on its PB Ratio (0.4x) compared to the US Shipping industry average (0.6x).


Next Steps

Future Growth

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

181.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EDRY is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: EDRY is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: EDRY is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: EDRY's revenue (10.5% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: EDRY's revenue (10.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if EDRY's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has EuroDry performed over the past 5 years?

-135.3%

Last years earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: EDRY is unprofitable, and there is insufficient past data to establish if their past 5-year earnings growth rate was positive.

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

Earnings vs Industry: EDRY is unprofitable, making it difficult to compare its past year earnings growth to the Shipping industry (-62.3%).


Return on Equity

High ROE: EDRY has a negative Return on Equity (2.71%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: EDRY is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: EDRY is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is EuroDry's financial position?


Financial Position Analysis

Short Term Liabilities: EDRY's short term assets ($10.9M) do not cover its short term liabilities ($12.4M)

Long Term Liabilities: EDRY's short term assets (10.9M) do not cover its long term liabilities (53.3M)


Debt to Equity History and Analysis

Debt Level: EDRY's debt to equity ratio (106.7%) is considered high

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


Balance Sheet

Inventory Level: EDRY has a high level of physical assets or inventory.

Debt Coverage by Assets: EDRY's debt is not covered by short term assets (assets are 0.2x debt).


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: Whilst unprofitable EDRY has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: EDRY is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 19.4% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage4.2%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

What is the CEO of EuroDry's salary, the management and board of directors tenure and is there insider trading?

1.4yrs

Average management tenure


CEO

Aristides Pittas (59yo)

1.8yrs

Tenure

0

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 ...


Management Age and Tenure

1.4yrs

Average Tenure

59yo

Average Age

Experienced Management: EDRY's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Age and Tenure

1.4yrs

Average Tenure

59yo

Average Age

Experienced Board: EDRY's board of directors are not considered experienced ( 1.4 years average tenure), which suggests a new board.


Insider Trading

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


Recent Insider Transactions

BuyUS$396,97703 May 19
Family United Navigation Co.
EntityCompany
Shares47,163
Max PriceUS$8.99
BuyUS$412,03619 Dec 18
Family United Navigation Co.
EntityCompany
Shares44,225
Max PriceUS$9.95
BuyUS$193,03119 Dec 18
Friends Investment Company Inc.
EntityCompany
Shares21,930
Max PriceUS$8.99
BuyUS$105,34019 Dec 18
Friends Dry Investment Company Inc.
EntityCompany
Shares12,000
Max PriceUS$9.05

Ownership Breakdown


Management Team

  • Aristides Pittas (59yo)

    Chairman

    • Tenure: 1.8yrs
  • Stephania Karmiri (51yo)

    Secretary

    • Tenure: 1.4yrs
  • Tasos Aslidis (59yo)

    CFO, Treasurer & Director

    • Tenure: 1.4yrs
  • Symeon Pariaros

    Chief Administrative Officer

    • Tenure: 0yrs

Board Members

  • George Taniskidis (58yo)

    Director

    • Tenure: 1.4yrs
  • Aristides Pittas (67yo)

    Vice Chairman

    • Tenure: 1.8yrs
  • Aristides Pittas (59yo)

    Chairman

    • Tenure: 1.8yrs
  • Panos Kyriakopoulos (58yo)

    Director

    • Tenure: 1.4yrs
  • Tasos Aslidis (59yo)

    CFO, Treasurer & Director

    • Tenure: 1.4yrs
  • Christian Donohue

    Director

    • Tenure: 1.4yrs
  • Apostolos Tamvakakis (61yo)

    Director

    • Tenure: 1.4yrs

Company Information

EuroDry Ltd.'s company bio, 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$18.420m
  • Shares outstanding: 2.28m
  • Website: https://www.eurodry.gr

Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EDRYNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDMay 2018
0LQDB (Deutsche Boerse AG)YesCommon StockDEEURMay 2018

Biography

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 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 00:36
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.