Safe Bulkers (SB) Gross Margin (2009 - 2025)
Safe Bulkers (SB) reported Gross Margin of 34.15% for Q4 2025, down 462.0% on a YoY basis from 9.43% in Q4 2024, and down 148.7% quarter-over-quarter from 70.11% in Q3 2025.
Safe Bulkers (SB) Gross Margin (2009 - 2025) Analysis & Trends
Safe Bulkers has reported Gross Margin for 17 years, with the latest figure at 34.15% in Q4 2025.
- For the quarter ending Q4 2025, Gross Margin fell 462.0% year-over-year to 34.15%; the trailing twelve-month figure through Dec 2025 stood at 37.92% (down 880.0% YoY), and the FY2025 full-year result was 64.7%, down 520.0% from the prior year.
- Gross Margin for Q4 2025 stood at 34.15%, down from 70.11% in the prior quarter.
- The five-year high for Gross Margin was 81.43% in Q3 2021, with the low at 34.15% in Q4 2025.
- Historically, Gross Margin has averaged 57.11% across 5 years, with a median of 70.49% in 2024.
- Annual changes were most pronounced in 2021 — Gross Margin jumped 1786 bps — and 2023, when it sank 8353 bps.
- Safe Bulkers' Gross Margin stood at 79.9% in 2021, then slipped by 6 bps to 75.13% in 2022, then tumbled by 111 bps to 8.4% in 2023, then tumbled by 252 bps to 29.53% in 2024, then slipped by 16 bps to 34.15% in 2025.
- The last three Gross Margin figures came in at 34.15% (Q4 2025), 70.11% (Q3 2025), and 57.25% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | C3is | 744.65 Bn | 744.65 Bn | 9.11 Mn | 78.71% |
| 2 | Kirby | 7.86 Bn | 7.78 Bn | 291.34 Mn | 34.20% |
| 3 | Matson | 5.69 Bn | 5.59 Bn | - | - |
| 4 | Hafnia | 3.63 Bn | 3.52 Bn | 152.41 Mn | 67.88% |
| 5 | Star Bulk Carriers | 3.14 Bn | 3.13 Bn | 371.22 Mn | 123.50% |
| 6 | ZIM Integrated Shipping Services | 3.12 Bn | 1.01 Bn | 57.20 Mn | 4.10% |
| 7 | Costamare | 1.93 Bn | 1.42 Bn | - | - |
| 8 | Navios Maritime Partners | 1.87 Bn | 1.47 Bn | 262.01 Mn | 73.39% |
| 9 | Global Ship Lease | 1.37 Bn | 1.37 Bn | - | - |
| 10 | Safe Bulkers | 1,950.00 | -146.39 Mn | -24.78 Mn | -34.15% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -34.15% |
| Sep 30, 2025 | 70.11% |
| Jun 30, 2025 | 57.25% |
| Mar 31, 2025 | 62.91% |
| Dec 31, 2024 | -29.53% |
| Sep 30, 2024 | 70.86% |
| Jun 30, 2024 | 67.09% |
| Mar 31, 2024 | 71.46% |
| Dec 31, 2023 | -8.40% |
| Sep 30, 2023 | 66.36% |
| Jun 30, 2023 | 63.27% |
| Mar 31, 2023 | 67.25% |
| Dec 31, 2022 | 75.13% |
| Sep 30, 2022 | 78.99% |
| Jun 30, 2022 | 79.69% |
| Mar 31, 2022 | 73.80% |
| Dec 31, 2021 | 79.90% |
| Sep 30, 2021 | 81.43% |
| Jun 30, 2021 | 77.44% |
| Mar 31, 2021 | 71.39% |