Stock fact sheet · data as of
Safe Bulkers, Inc. (SB): fair value, margin of safety and Wheel Score
Industrials · Marine Shipping · Monaco · Value
Is SB undervalued?
At 8.22 (close of 16 Oct 2026), SB trades 11% under the GLS average fair value of 9.29. 5 of the 9 models that produced a value land above the price. A discount of this size counts as a positive margin of safety in every GLS screen; whether it is enough depends on the rest of the picture - the health score, the moat and the option premium below.
There is a wide gap between DCF (1.57) and 10 Cap (19.88). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files SB under Value: positive earnings at a P/E of 18 or less.
Nine valuation models for SB
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 1.57 | -81% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 12.82 | +56% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 13.78 | +68% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 3.42 | -58% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 2.50 | -70% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 19.88 | +142% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 16.66 | +103% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 3.46 | -58% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 9.49 | +15% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -3.27 | -140% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 4.20 | -49% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Safe Bulkers, Inc. scores 8 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the Sunday Scan's "6 or more" rule with room to spare. A GLS Moat score of 2.6/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 2.8%, ROE 4.6%, ROA 2.7% - with debt at 0.65 times equity and a free-cash-flow yield of 9.5%.
The dividend yield is 2.86% at a payout ratio of 0%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold.
Institutional ownership scores 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 11 Sep 2026.
| Piotroski F-score | 8 / 9 | ROIC | 2.8% |
|---|---|---|---|
| GLS Moat | 2.6 / 10 | ROE | 4.6% |
| Debt / equity | 0.65 | ROA | 2.7% |
| Free-cash-flow yield | 9.5% | Payout ratio | 0% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 73: Good
With a Wheel Score of 73 - the Good band - Safe Bulkers, Inc. clears the Sunday Scan's "70 or higher" rule. The parts: Value 17/25, Health 18/20, Moat 4/15, Premium 19/20, Stability 14/20; Moat (4/15) scores lowest.
Implied volatility is 63% on the near-the-money contracts 20-60 days out - above the 60% ceiling of the sweet spot. Premiums are large, but the Wheel Score tapers the Premium points (19 of 20) because volatility this high usually comes with a reason. Chain open interest is 23,439 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.2M shares a day on a market cap of $936M, with a beta of 0.83; the Stability part of the Wheel Score gives that 14 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 17 / 25 | 11% margin of safety | |
| Health | 18 / 20 | Piotroski 8/9 | |
| Moat | 4 / 15 | moat 2.6/10 | |
| Premium | 19 / 20 | implied volatility 63% | |
| Stability | 14 / 20 | 1.2M shares/day, $936M cap, beta 0.83 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 25 Nov 2026 (before the open), 40 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Marine Shipping
The 12 companies below are the closest to Safe Bulkers, Inc. by market cap within the Marine Shipping industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| GNK Genco Shipping & Trading Limited | 24.93 | 12.01 | -108% | 47Weak | $1.1B |
| ASC Ardmore Shipping Corporation | 18.98 | 22.71 | +16% | 71Good | $775M |
| HSHP Himalaya Shipping Ltd. | 16.24 | 35.94 | +55% | 39No options | $766M |
| CCEC Capital Clean Energy Carriers Corp. | 20.25 | 17.09 | -18% | 50Fair | $1.2B |
| NVGS Navigator Holdings Ltd. | 21.92 | 57.76 | +62% | 86Prime | $1.3B |
| GSL Global Ship Lease, Inc. | 42.00 | 128.81 | +67% | 79Good | $1.5B |
| FLNG FLEX LNG Ltd | 28.64 | 36.02 | +20% | 69Good | $1.5B |
| PANL Pangaea Logistics Solutions, Ltd. | 8.17 | 8.92 | +8% | 62Fair | $535M |
| NAT Nordic American Tankers Limited | 7.82 | 6.67 | -17% | 58Fair | $1.7B |
| CMRE Costamare Inc. | 14.28 | 20.68 | +31% | 76Good | $1.7B |
| SFL SFL Corporation Ltd | 13.05 | 17.27 | +24% | 76Good | $1.7B |
| ESEA Euroseas Ltd. | 67.45 | 213.07 | +68% | 39No options | $476M |
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Start free See the Sunday ScanQuestions about SB
Is SB undervalued right now?
By the GLS models, moderately: at 8.22 the stock trades 11% below the average fair value of 9.29 (data as of 16 Oct 2026).
What is the Wheel Score of SB and what does it mean?
SB scores 73 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for SB?
9.29 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Safe Bulkers, Inc. report earnings next?
The next earnings report is due on 25 Nov 2026 (before the open), 40 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does SB have listed options, and how liquid are they?
Yes. The nightly snapshot found 58 listed contracts with 23,439 open interest across all expiries and implied volatility of 63% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.