NasdaqGS:SBLK

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Overvalued with concerning outlook.


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


Market Performance


7 Day Return

0.2%

SBLK

0.1%

US Shipping

0.5%

US Market


1 Year Return

-12.4%

SBLK

-1.3%

US Shipping

6.8%

US Market

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

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


Shareholder returns

SBLKIndustryMarket
7 Day0.2%0.1%0.5%
30 Day8.4%1.8%-0.8%
90 Day1.8%3.3%-0.9%
1 Year-12.4%-12.4%0.3%-1.3%9.2%6.8%
3 Year143.3%143.3%21.1%12.8%45.6%36.2%
5 Year-78.0%-78.0%-59.1%-62.3%63.2%45.4%

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

Valuation

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

39.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SBLK ($11.07) is trading below our estimate of fair value ($18.14)

Significantly Below Fair Value: SBLK is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

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

PE vs Market: SBLK 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 SBLK's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: SBLK is overvalued based on its PB Ratio (0.7x) compared to the US Shipping industry average (0.6x).


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?

84.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

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

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

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

Revenue vs Market: SBLK's revenue (8.5% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: SBLK's revenue (8.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SBLK's Return on Equity is forecast to be low in 3 years time (12.1%).


Next Steps

Past Performance

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

28.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SBLK is unprofitable, but has reduced losses over the past 5 years at a rate of 28.7% per year.

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

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


Return on Equity

High ROE: SBLK has a negative Return on Equity (-0.52%), as it is currently unprofitable.


Return on Assets

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


Return on Capital Employed

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


Next Steps

Financial Health

How is Star Bulk Carriers's financial position?


Financial Position Analysis

Short Term Liabilities: SBLK's short term assets ($206.8M) do not cover its short term liabilities ($251.9M)

Long Term Liabilities: SBLK's short term assets (206.8M) do not cover its long term liabilities (1.3B)


Debt to Equity History and Analysis

Debt Level: SBLK's debt to equity ratio (72.2%) is considered high

Reducing Debt: SBLK's debt to equity ratio has increased from 50.2% to 72.2% over the past 5 years.


Balance Sheet

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

Debt Coverage by Assets: SBLK'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: Insufficient data to determine if SBLK has enough cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if SBLK 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?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage4.2%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

Growing Dividend: Insufficient data to determine if SBLK'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 SBLK'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 Star Bulk Carriers's salary, the management and board of directors tenure and is there insider trading?

5.3yrs

Average management tenure


CEO

Petros Pappas (66yo)

5.3yrs

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 ...


Management Age and Tenure

5.3yrs

Average Tenure

47yo

Average Age

Experienced Management: SBLK's management team is seasoned and experienced (5.3 years average tenure).


Board Age and Tenure

2.3yrs

Average Tenure

63yo

Average Age

Experienced Board: SBLK's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


Insider Trading

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


Recent Insider Transactions

SellUS$66,48015 Oct 19
Nikolaos Karellis
EntityIndividual
Role
Member of the Board of Directors
Director
Shares6,000
Max PriceUS$11.08
BuyUS$8,949,58914 Aug 19
Oaktree Capital Management, L.P.
EntityCompany
Shares1,020,656
Max PriceUS$8.77
BuyUS$12,513,36204 Jun 19
Oaktree Capital Management, L.P.
EntityCompany
Shares1,629,344
Max PriceUS$7.68
BuyUS$12,924,12101 Apr 19
Oaktree Capital Management, L.P.
EntityCompany
Shares1,622,446
Max PriceUS$7.97
BuyUS$13,06012 Mar 19
Spyros Capralos
EntityIndividual
Role
Chairman of the Board
Non-Executive Chairman
Shares2,000
Max PriceUS$6.53
BuyUS$113,04004 Jan 19
Nikolaos Karellis
EntityIndividual
Role
Member of the Board of Directors
Director
Shares12,000
Max PriceUS$9.42
SellUS$37603 Jan 19
Nikolaos Karellis
EntityIndividual
Role
Member of the Board of Directors
Director
Shares12,000
Max PriceUS$0.031
BuyUS$14,307,20318 Dec 18
Oaktree Capital Management, L.P.
EntityCompany
Shares1,453,984
Max PriceUS$9.84
BuyUS$16,975,00030 Nov 18
Oaktree Capital Management, L.P.
EntityCompany
Shares1,750,000
Max PriceUS$9.70
BuyUS$23,84326 Nov 18
Christos Begleris
EntityIndividual
Role
Co-Chief Financial Officer
Co-Chief Financial Officer
Shares2,750
Max PriceUS$8.67

Ownership Breakdown


Management Team

  • Petros Pappas (66yo)

    Founder

    • Tenure: 5.3yrs
    • Compensation: US$9.89k
  • Hamish Norton (60yo)

    President

    • Tenure: 5.3yrs
  • Zenon Kleopas (64yo)

    Executive Vice President of Technical Operations

    • Tenure: 0yrs
  • Simos Spyrou (45yo)

    Co-Chief Financial Officer

    • Tenure: 8.1yrs
  • Christos Begleris (38yo)

    Co-Chief Financial Officer

    • Tenure: 5.3yrs
  • Nicos Rescos (47yo)

    Chief Operating Officer

    • Tenure: 5.3yrs
  • Herman Billung

    Senior Vice President

    • Tenure: 1.3yrs
  • Charis Plakantonaki (40yo)

    Chief Strategy Officer

    • Tenure: 2.5yrs
  • Georgia Mastagaki

    Co-General Counsel

    • Tenure: 0yrs

Board Members

  • Arne Blystad (64yo)

    Director

    • Tenure: 1.3yrs
  • Tom Søfteland (58yo)

    Director

    • Tenure: 0yrs
    • Compensation: US$37.50k
  • Petros Pappas (66yo)

    Founder

    • Tenure: 5.3yrs
    • Compensation: US$9.89k
  • Koert Erhardt (63yo)

    Director

    • Tenure: 0yrs
    • Compensation: US$35.67k
  • Emily Stephens (43yo)

    Director

    • Tenure: 0.9yrs
    • Compensation: US$12.15k
  • Spyros Capralos (64yo)

    Non-Executive Chairman

    • Tenure: 5.3yrs
    • Compensation: US$15.49k
  • Mahesh Balakrishnan (36yo)

    Director

    • Tenure: 4.7yrs
  • Nikolaos Karellis (68yo)

    Director

    • Tenure: 3.4yrs
  • Raffaele Zagari (50yo)

    Director

    • Tenure: 1.2yrs

Company Information

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


Key Information

  • Name: Star Bulk Carriers Corp.
  • Ticker: SBLK
  • Exchange: NasdaqGS
  • Founded: 2006
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: US$1.046b
  • Shares outstanding: 94.53m
  • Website: https://www.starbulk.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SBLKNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJul 2014
4FAPDB (Deutsche Boerse AG)YesCommon StockDEEURJul 2014
SBLKOB (Oslo Bors)YesCommon StockNONOKJul 2014
SBLKOBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBNOKJul 2014

Biography

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of major bulks, including iron ores, coal, and grains, as well ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 23:59
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.