Star Bulk Carriers (SBLK) financial statements
Star Bulk Carriers reported revenue of $1.0B in fiscal 2025, up 174.2% a year over 9 years.
Net income was $84M and the operating margin 13.1%, against -91810.9% in 2016.
Free cash flow was $212M, and the company returned $34M in dividends and $98M in net buybacks.
The diluted share count rose 143% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Star Bulk Carriers's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $119,000 | $0 | $0 | $821M | $693M | $1.4B | $1.4B | $949M | $1.3B | $1.0B |
| Selling, general and admin | $25M | $31M | $34M | $35M | $32M | $40M | $57M | $54M | $71M | $71M |
| Operating income | -$109M | $39M | $132M | $74M | $84M | $739M | $608M | $238M | $383M | $137M |
| Interest expense | $40M | $50M | $74M | $88M | $70M | $56M | $53M | $71M | $92M | $71M |
| Pre-tax income | -$154M | -$10M | $58M | -$16M | $10M | $680M | $566M | $174M | $305M | $85M |
| Income tax | $267,000 | $236,000 | $61,000 | $109,000 | $152,000 | $16,000 | $244,000 | $183,000 | -$116,000 | $0 |
| Net income | -$154M | -$10M | $58M | -$16M | $10M | $681M | $566M | $174M | $305M | $84M |
| EPS (diluted) | -$3.24 | -$0.16 | $0.76 | -$0.17 | $0.10 | $6.71 | $5.52 | $1.75 | $2.80 | $0.73 |
| Diluted shares | 48M | 63M | 77M | 94M | 96M | 101M | 103M | 99M | 109M | 115M |
| Operating margin | -91810.9% | — | — | 9.0% | 12.1% | 51.8% | 42.3% | 25.1% | 30.3% | 13.1% |
| Net margin | -129603.4% | — | — | -2.0% | 1.4% | 47.7% | 39.4% | 18.3% | 24.1% | 8.1% |
Balance sheet
Fiscal years, from Star Bulk Carriers's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $182M | $258M | $205M | $118M | $183M | $450M | $270M | $227M | $425M | $489M |
| Receivables | $13M | $19M | $38M | $59M | $38M | $81M | $84M | $69M | $79M | $84M |
| Inventory | $15M | $19M | $27M | $51M | $47M | $75M | $67M | $62M | $79M | $51M |
| Total current assets | $228M | $313M | $299M | $266M | $307M | $683M | $502M | $454M | $659M | $683M |
| Property, plant and equipment | $1.8B | $1.8B | $2.7B | $3.0B | $2.9B | $3.0B | $2.9B | $2.5B | $3.2B | $3.0B |
| Total assets | $2.0B | $2.1B | $3.0B | $3.2B | $3.2B | $3.8B | $3.4B | $3.0B | $4.1B | $3.8B |
| Total current liabilities | $28M | $219M | $223M | $311M | $266M | $291M | $283M | $359M | $400M | $384M |
| Total liabilities | $974M | $1.1B | $1.5B | $1.7B | $1.6B | $1.7B | $1.4B | $1.4B | $1.6B | $1.4B |
| Shareholders' equity | $1.0B | $1.1B | $1.5B | $1.5B | $1.5B | $2.1B | $2.0B | $1.7B | $2.5B | $2.4B |
| Net debt | -$182M | -$258M | -$205M | -$118M | -$183M | -$450M | -$270M | -$227M | -$425M | -$489M |
Cash flow
Fiscal years, from Star Bulk Carriers's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$33M | $83M | $169M | $89M | $171M | $767M | $770M | $336M | $471M | $296M |
| Capital spending | $396M | $144M | $329M | $347M | $72M | $130M | $25M | $18M | $55M | $84M |
| Free cash flow | -$429M | -$61M | -$160M | -$259M | $98M | $637M | $744M | $318M | $416M | $212M |
| Stock-based compensation | $4M | $9M | $8M | $8M | $5M | $10M | $28M | $21M | $18M | $18M |
| Dividends paid | — | $0 | $0 | $5M | $5M | $230M | $668M | $158M | $277M | $34M |
| Share buybacks (net) | $0 | $0 | -$3M | -$21M | $0 | -$10M | -$20M | -$393M | -$25M | -$98M |
| Net borrowing | -$29M | $75M | $113M | $144M | -$21M | -$123M | -$261M | -$51M | -$342M | -$202M |
| Free cash flow margin | -360828.6% | — | — | -31.5% | 14.2% | 44.6% | 51.8% | 33.5% | 32.9% | 20.3% |
| Dividends per share | — | — | — | $0.05 | $0.05 | $2.27 | $6.52 | $1.60 | $2.55 | $0.30 |
Questions
What was Star Bulk Carriers's revenue in 2025?
$1.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Star Bulk Carriers generate?
$212M in fiscal 2025 (operating cash flow minus capital spending).
From Star Bulk Carriers's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.