Cash flow Star Bulk Carriers Corp.

Equities

SBLK

MHY8162K2046

Marine Freight & Logistics

Market Closed - Nasdaq Other stock markets 04:00:00 2024-12-12 pm EST			5-day change	1st Jan Change
15.45 ^USD	-0.39%		-6.25%	-27.33%

Nov. 20	Star Bulk Carriers Corp., Q3 2024 Earnings Call, Nov 20, 2024
Nov. 19	Star Bulk Carriers Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024	CI

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Published financial data: STAR BULK CARRIERS CORP.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	821M	693M	1.43B	1.44B	949M
Total Revenues	821M	693M	1.43B	1.44B	949M
Cost of Goods Sold, Total	583M	447M	489M	607M	555M
Gross Profit	239M	246M	939M	830M	395M
Selling General & Admin Expenses, Total	34.82M	31.88M	39.5M	56.83M	54.41M
Provision for Bad Debts	1.61M	373K	629K	677K	300K
Depreciation & Amortization - (IS)	124M	142M	153M	157M	138M
Other Operating Expenses	2.2M	3.62M	2.74M	-2.58M	5.19M
Other Operating Expenses, Total	163M	178M	196M	212M	198M
Operating Income	75.77M	68.1M	743M	619M	196M
Interest Expense, Total	-85.96M	-67.04M	-54.32M	-51.41M	-73.27M
Interest And Investment Income	1.3M	267K	315K	7.05M	15.23M
Net Interest Expenses	-84.67M	-66.78M	-54M	-44.36M	-58.04M
Income (Loss) On Equity Invest.	54K	36K	120K	109K	60K
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	2.76M	13.64M	1.84M	-2.62M	-2.92M
EBT, Excl. Unusual Items	-6.08M	15M	691M	572M	136M
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-5.49M	-	-	-	29.4M
Asset Writedown	-3.41M	-	-	-	-17.84M
Insurance Settlements	2.42M	3.23M	-	-	33.92M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-3.53M	-8.42M	-10.56M	-5.54M	-7.25M
EBT, Incl. Unusual Items	-16.09M	9.81M	681M	566M	174M
Income Tax Expense	109K	152K	16K	244K	183K
Earnings From Continuing Operations	-16.2M	9.66M	681M	566M	174M
Net Income to Company	-16.2M	9.66M	681M	566M	174M
Net Income - (IS)	-16.2M	9.66M	681M	566M	174M
Net Income to Common Incl Extra Items	-16.2M	9.66M	681M	566M	174M
Net Income to Common Excl. Extra Items	-16.2M	9.66M	681M	566M	174M
Per Share Items
Net EPS - Basic	-0.17	0.1	6.73	5.54	1.76
Basic EPS - Continuing Operations	-0.17	0.1	6.73	5.54	1.76
Basic Weighted Average Shares Outstanding	93.74M	96.13M	101M	102M	98.46M
Net EPS - Diluted	-0.17	0.1	6.71	5.52	1.75
Diluted EPS - Continuing Operations	-0.17	0.1	6.71	5.52	1.75
Diluted Weighted Average Shares Outstanding	93.74M	96.28M	101M	103M	98.93M
Normalized Basic EPS	-0.04	0.1	4.27	3.5	0.86
Normalized Diluted EPS	-0.04	0.1	4.26	3.49	0.86
Dividend Per Share	0.1	-	4.25	5.1	1.42
Payout Ratio	-29.65	49.73	33.83	118.14	91.07
Supplemental Items
EBITDA	198M	209M	896M	775M	335M
EBITA	73.76M	66.92M	743M	619M	196M
EBIT	75.77M	68.1M	743M	619M	196M
EBITDAR	310M	241M	909M	787M	349M
Total Revenues (As Reported)	-	-	-	-	-
Effective Tax Rate - (Ratio)	-0.68	1.55	0	0.04	0.11
Normalized Net Income	-3.8M	9.38M	432M	357M	84.69M
Interest Capitalized	1.02M	-	-	-	-
Interest on Long-Term Debt	88.21M	69.9M	55.58M	63.65M	95.07M
Supplemental Operating Expense Items
General and Administrative Expenses	34.47M	31.42M	39M	56.32M	53.84M
Net Rental Expense, Total	112M	32.27M	13.85M	11.32M	14.59M
Imputed Operating Lease Interest Expense	51.49M	11M	3.82M	3.19M	6.61M
Imputed Operating Lease Depreciation	60.42M	21.28M	10.04M	8.12M	7.98M
Stock-Based Comp., G&A Exp. (Total)	7.94M	4.62M	10.34M	28.48M	20.88M
Total Stock-Based Compensation	7.94M	4.62M	10.34M	28.48M	20.88M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	118M	183M	450M	270M	227M
Short Term Investments	123K	-	-	-	-
Trading Asset Securities, Total	-	-	549K	21.71M	6.04M
Total Cash And Short Term Investments	118M	183M	451M	291M	234M
Accounts Receivable, Total	58.78M	38.09M	81.06M	84.03M	68.62M
Other Receivables	1.49M	376K	9.66M	408K	61K
Total Receivables	60.27M	38.47M	90.72M	84.44M	68.68M
Inventory	51.15M	47.29M	75.08M	67.16M	62.36M
Prepaid Expenses	17.74M	17.69M	28.66M	25.67M	19.3M
Restricted Cash	7.42M	7.3M	20.96M	14.57M	32.25M
Other Current Assets, Total	11.51M	13.45M	16.66M	18.79M	38.29M
Total Current Assets	266M	307M	683M	502M	454M
Gross Property Plant And Equipment	3.41B	3.47B	3.87B	3.88B	3.54B
Accumulated Depreciation	-445M	-588M	-805M	-962M	-969M
Net Property Plant And Equipment	2.97B	2.88B	3.06B	2.92B	2.57B
Long-term Investments	1.16M	1.32M	8.33M	10.34M	4.27M
Other Intangibles, Total	-	-	-	-	-
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	4.72M	5.06M	2.17M	2.02M	2.02M
Total Assets	3.24B	3.19B	3.75B	3.43B	3.03B
Liabilities
Accounts Payable, Total	42.78M	32.85M	21.84M	32.14M	39.32M
Accrued Expenses, Total	50.76M	22.24M	32.18M	35.24M	32.96M
Current Portion of Long-Term Debt	150M	147M	157M	167M	249M
Current Portion of Leases	52.14M	44.87M	50.43M	25.32M	7.98M
Current Income Taxes Payable	-	134K	60K	250K	71K
Unearned Revenue Current, Total	7.37M	11.68M	24.96M	16.68M	16.74M
Other Current Liabilities	7.52M	8.02M	4.18M	6.34M	13.17M
Total Current Liabilities	311M	266M	291M	283M	359M
Long-Term Debt	1.01B	990M	933M	928M	970M
Long-Term Leases	371M	383M	450M	203M	37.78M
Unearned Revenue Non Current	-	-	-	-	-
Other Non Current Liabilities	3.24M	2.34M	1.06M	831K	1M
Total Liabilities	1.69B	1.64B	1.67B	1.41B	1.37B
Common Stock, Total	961K	971K	1.02M	1.03M	840K
Additional Paid In Capital	2.54B	2.55B	2.62B	2.65B	2.29B
Retained Earnings	-1B	-996M	-546M	-649M	-633M
Treasury Stock	-93K	-93K	-	-	-
Comprehensive Income and Other	-	-3.99M	6.93M	20.96M	5.39M
Total Common Equity	1.54B	1.55B	2.08B	2.02B	1.66B
Total Equity	1.54B	1.55B	2.08B	2.02B	1.66B
Total Liabilities And Equity	3.24B	3.19B	3.75B	3.43B	3.03B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	96.07M	99.23M	102M	103M	84.02M
ECS Total Common Shares Outstanding	96.07M	97.14M	102M	103M	84.02M
Book Value / Share	16.07	15.95	20.33	19.63	19.76
Tangible Book Value	1.54B	1.55B	2.08B	2.02B	1.66B
Tangible Book Value Per Share	16.07	15.95	20.33	19.63	19.76
Total Debt	1.58B	1.56B	1.59B	1.32B	1.26B
Net Debt	1.47B	1.38B	1.14B	1.03B	1.03B
Debt Equivalent Oper. Leases	895M	258M	111M	90.52M	117M
Equity Method Investments, Total	-	-	277K	125K	1.74M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Others	51.15M	47.29M	75.08M	67.16M	62.36M
Machinery, Total	3.41B	3.46B	-	-	-
Full Time Employees	181	180	181	209	216

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-16.2M	9.66M	681M	566M	174M
Depreciation & Amortization - CF	124M	142M	153M	167M	148M
Amortization of Goodwill and Intangible Assets - (CF)	-2.01M	-1.18M	-187K	-	-
Depreciation & Amortization, Total	122M	141M	152M	167M	148M
Amortization of Deferred Charges, Total - (CF)	5.59M	7.82M	6.51M	4.92M	3.66M
(Gain) Loss From Sale Of Asset	5.49M	-	-1.1M	-	-29.4M
Asset Writedown & Restructuring Costs	3.41M	-	-	-	17.84M
(Income) Loss On Equity Investments - (CF)	-54K	-36K	-120K	-109K	-60K
Stock-Based Compensation (CF)	7.94M	4.62M	10.34M	28.48M	20.88M
Provision and Write-off of Bad Debts	1.61M	373K	629K	677K	300K
Other Operating Activities, Total	1.54M	1.75M	1.44M	11.06M	-4.06M
Change In Accounts Receivable	-20.38M	20.32M	-43.6M	-3.65M	14.4M
Change In Inventories	-23.72M	3.86M	-27.78M	-9.41M	-5.85M
Change In Accounts Payable	3.63M	-3.05M	-8.04M	11.56M	7.31M
Change in Unearned Revenues	-3.48M	4.3M	13.28M	-8.28M	54K
Change in Other Net Operating Assets	887K	-20.17M	-17.47M	1.27M	-11.06M
Cash from Operations	88.52M	171M	767M	770M	336M
Capital Expenditure	-347M	-72.06M	-130M	-25.4M	-18.09M
Sale of Property, Plant, and Equipment	56.63M	-	-	-	196M
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	10.67M	5.72M	8.88M	4.53M	57.64M
Cash from Investing	-280M	-66.33M	-121M	-20.87M	236M
Long-Term Debt Issued, Total	768M	688M	471M	315M	441M
Total Debt Issued	768M	688M	471M	315M	441M
Long-Term Debt Repaid, Total	-624M	-709M	-593M	-576M	-493M
Total Debt Repaid	-624M	-709M	-593M	-576M	-493M
Issuance of Common Stock	-	-	-	19.79M	13.16M
Repurchase of Common Stock	-20.52M	-	-10.28M	-20.07M	-393M
Common Dividends Paid	-4.8M	-4.8M	-230M	-669M	-158M
Common & Preferred Stock Dividends Paid	-4.8M	-4.8M	-230M	-669M	-158M
Other Financing Activities, Total	-15.37M	-9.03M	-5.02M	-5.96M	-6.73M
Cash from Financing	104M	-34.95M	-368M	-936M	-596M
Net Change in Cash	-87.62M	69.27M	278M	-187M	-24.59M
Supplemental Items
Cash Interest Paid	82.17M	61.56M	49.66M	49.6M	56.02M
Levered Free Cash Flow	-219M	72.67M	370M	559M	233M
Unlevered Free Cash Flow	-171M	107M	397M	586M	275M
Change In Net Working Capital	1.67M	9.48M	99.6M	-28.89M	-1.36M
Net Debt Issued / Repaid	144M	-21.12M	-123M	-261M	-51.16M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.51	1.32	13.37	10.76	3.8
Return on Total Capital	1.56	1.36	13.69	11.03	3.92
Return On Equity %	-1.06	0.62	37.5	27.61	9.43
Return on Common Equity	-1.06	0.62	37.5	27.61	9.43
Margin Analysis
Gross Profit Margin %	29.06	35.52	65.76	57.77	41.58
SG&A Margin	4.24	4.6	2.77	3.95	5.73
EBITDA Margin %	24.11	30.18	62.74	53.95	35.27
EBITA Margin %	8.98	9.65	52.05	43.05	20.69
EBIT Margin %	9.22	9.82	52.06	43.05	20.69
Income From Continuing Operations Margin %	-1.97	1.39	47.68	39.38	18.28
Net Income Margin %	-1.97	1.39	47.68	39.38	18.28
Net Avail. For Common Margin %	-1.97	1.39	47.68	39.38	18.28
Normalized Net Income Margin	-0.46	1.35	30.26	24.87	8.92
Levered Free Cash Flow Margin	-26.71	10.48	25.93	38.88	24.54
Unlevered Free Cash Flow Margin	-20.85	15.4	27.85	40.77	28.98
Asset Turnover
Asset Turnover	0.26	0.22	0.41	0.4	0.29
Fixed Assets Turnover	0.29	0.24	0.48	0.48	0.35
Receivables Turnover (Average Receivables)	16.9	14.31	23.96	17.41	12.44
Inventory Turnover (Average Inventory)	14.83	9.08	7.99	8.53	8.56
Short Term Liquidity
Current Ratio	0.86	1.15	2.35	1.78	1.26
Quick Ratio	0.57	0.83	1.86	1.33	0.84
Operating Cash Flow to Current Liabilities	0.28	0.64	2.64	2.72	0.93
Days Sales Outstanding (Average Receivables)	21.59	25.57	15.23	20.96	29.35
Days Outstanding Inventory (Average Inventory)	24.61	40.31	45.69	42.78	42.63
Average Days Payable Outstanding	19.18	31.23	19.32	16.45	23.72
Cash Conversion Cycle (Average Days)	27.03	34.64	41.6	47.29	48.25
Long Term Solvency
Total Debt/Equity	102.52	101	76.46	65.51	76.2
Total Debt / Total Capital	50.62	50.25	43.33	39.58	43.25
LT Debt/Equity	89.41	88.64	66.48	56	60.71
Long-Term Debt / Total Capital	44.15	44.1	37.68	33.84	34.46
Total Liabilities / Total Assets	52.32	51.45	44.6	41.19	45.18
EBIT / Interest Expense	0.88	1.02	13.68	12.03	2.68
EBITDA / Interest Expense	3.61	3.6	16.74	15.3	4.77
(EBITDA - Capex) / Interest Expense	-0.43	2.53	14.35	14.81	4.52
Total Debt / EBITDA	5.11	6.48	1.75	1.68	3.62
Net Debt / EBITDA	4.73	5.72	1.25	1.31	2.95
Total Debt / (EBITDA - Capex)	-42.56	9.24	2.04	1.74	3.82
Net Debt / (EBITDA - Capex)	-39.39	8.16	1.46	1.35	3.11
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	26.06	-15.6	105.91	0.68	-33.95
Gross Profit, 1 Yr. Growth %	-17.53	3.18	281.15	-11.54	-52.46
EBITDA, 1 Yr. Growth %	-21.16	5.64	321.57	-13.42	-56.32
EBITA, 1 Yr. Growth %	-50.28	-9.27	959.12	-16.73	-67.79
EBIT, 1 Yr. Growth %	-49.54	-10.12	941.8	-16.75	-67.79
Earnings From Cont. Operations, 1 Yr. Growth %	-127.74	-159.63	6.94K	-16.83	-69.34
Net Income, 1 Yr. Growth %	-127.74	-159.63	6.94K	-16.83	-69.34
Normalized Net Income, 1 Yr. Growth %	-107.74	-346.59	3.69K	-17.27	-75.93
Diluted EPS Before Extra, 1 Yr. Growth %	-122.81	-157.86	6.61K	-17.73	-68.3