Star Bulk Carriers Corp. (SBLK) Income Statement
SBLK 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSBLK revenue and net income
Where SBLK's revenue goes
2025Each bar shows an amount and its share of revenue. SBLK kept 8.1% of revenue as net income.
SBLK profit margins
SBLK growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −17.6% | −10.1% | +8.5% | +16.1% |
| Gross profit | −59.8% | −34.1% | −0.7% | +23.7% |
| Operating income | −63.3% | −38.6% | +10.9% | — |
| Net income | −72.4% | −47.0% | +54.2% | — |
| EPS (diluted) | −63.7% | −45.2% | +43.7% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SBLK quarterly EPS vs estimates
Star Bulk Carriers beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 17, 2026 (estimate $1.27).
SBLK income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.04B | $1.27B | $949.3M | $1.44B | $1.43B | $693.2M | $821.4M | $651.6M | $332.0M | $222.1M |
| Cost of revenue | $808.1M | $682.8M | $554.5M | $616.4M | $497.2M | $450.5M | $582.7M | $362.1M | $180.7M | $177.6M |
| Gross profit | $234.4M | $582.6M | $394.7M | $820.7M | $930.2M | $242.8M | $238.7M | $289.4M | $151.3M | $44.5M |
| Sales, general & admin | $70.5M | $71.1M | $54.7M | $57.5M | $40.1M | $32.3M | $36.4M | $34.7M | $31.0M | $24.3M |
| Total operating expenses | $93.7M | $199.6M | $156.3M | $213.1M | $190.8M | $158.8M | $165.0M | $157.5M | $112.5M | $153.8M |
| Operating income | $140.7M | $383.0M | $238.5M | $607.6M | $739.4M | $84.0M | $73.7M | $131.9M | $38.8M | −$109.3M |
| Interest income | $18.9M | $21.9M | $17.1M | $7.0M | $315,000 | $267,000 | $1.3M | $1.9M | $3.0M | $876,000 |
| Interest expense | $71.2M | $97.4M | $87.9M | $62.6M | $56.0M | $69.6M | $87.6M | $73.7M | $49.6M | $45.0M |
| Income before taxes | $84.2M | $304.5M | $173.7M | $566.2M | $680.5M | $9.8M | −$16.1M | $58.5M | −$9.5M | −$154.0M |
| Income taxes | — | −$116,000 | $183,000 | $244,000 | $16,000 | $152,000 | $109,000 | $61,000 | $236,000 | $267,000 |
| Net income | $84.2M | $304.7M | $173.6M | $566.0M | $680.5M | $9.7M | −$16.2M | $58.4M | −$9.8M | −$154.2M |
| EBITDA | $323.7M | $504.9M | $334.8M | $765.8M | $887.4M | $210.1M | $202.5M | $253.0M | $117.6M | $17.3M |
| EPS (diluted) | $0.98 | $2.70 | $1.90 | $5.95 | $6.77 | $0.16 | $0.23 | $1.04 | −$0.07 | −$2.29 |
| Gross margin | 22.5% | 46.0% | 41.6% | 57.1% | 65.2% | 35.0% | 29.1% | 44.4% | 45.6% | 20.0% |
| Operating margin | 13.5% | 30.3% | 25.1% | 42.3% | 51.8% | 12.1% | 9.0% | 20.2% | 11.7% | −49.2% |
| Net margin | 8.1% | 24.1% | 18.3% | 39.4% | 47.7% | 1.4% | −2.0% | 9.0% | −2.9% | −69.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $357.4M | $281.2M | $300.6M | $263.9M | $247.4M | $230.7M | $308.9M | $344.3M | $352.9M | $259.4M | $263.5M | $223.1M |
| Cost of revenue | $154.1M | $188.2M | $195.9M | $163.8M | $168.0M | $170.4M | $188.1M | $190.6M | $177.6M | $126.6M | $138.4M | $133.4M |
| Gross profit | $203.3M | $93.0M | $104.7M | $100.0M | $79.4M | $60.2M | $120.8M | $153.7M | $175.3M | $132.8M | $125.1M | $89.6M |
| Sales, general & admin | $16.1M | $14.5M | $17.3M | $19.7M | $18.2M | $15.3M | $19.3M | $21.6M | $23.8M | $10.7M | $18.1M | $13.6M |
| Total operating expenses | $48.3M | $19.9M | $23.1M | $68.2M | $66.1M | $45.1M | $58.6M | $54.8M | $47.8M | $38.4M | $65.8M | $27.2M |
| Operating income | $155.0M | $73.0M | $81.7M | $31.8M | $13.2M | $15.1M | $62.2M | $98.9M | $127.5M | $94.4M | $59.2M | $62.4M |
| Interest income | $3.0M | $1.4M | $4.5M | $4.3M | $4.8M | $5.3M | $7.5M | $7.1M | $4.8M | $2.5M | $26.7M | $3.7M |
| Interest expense | $12.4M | $12.9M | $15.4M | $17.7M | $18.9M | $19.8M | $21.4M | $24.4M | $26.0M | $25.6M | $30.8M | $18.1M |
| Income before taxes | $144.9M | $58.5M | $65.2M | $18.5M | $26,000 | $493,000 | $42.5M | $81.2M | $106.1M | $74.8M | $39.7M | $43.7M |
| Income taxes | — | — | — | — | −$13,000 | $31,000 | $40,000 | −$25,000 | −$10,000 | −$106,000 | $2,000 | $78,000 |
| Net income | $144.9M | $58.5M | $65.2M | $18.5M | $39,000 | $462,000 | $42.4M | $81.3M | $106.1M | $74.9M | $39.7M | $43.7M |
| EBITDA | $197.2M | $111.0M | $121.5M | $79.0M | $62.4M | $53.5M | $91.8M | $134.3M | $155.2M | $123.5M | $101.4M | $104.0M |
| EPS (diluted) | $1.17 | $0.56 | $0.65 | $0.29 | $0.11 | −$0.07 | $0.34 | $0.71 | $0.78 | $0.87 | $0.73 | $0.34 |
| Gross margin | 56.9% | 33.1% | 34.8% | 37.9% | 32.1% | 26.1% | 39.1% | 44.7% | 49.7% | 51.2% | 47.5% | 40.2% |
| Operating margin | 43.4% | 26.0% | 27.2% | 12.1% | 5.3% | 6.5% | 20.1% | 28.7% | 36.1% | 36.4% | 22.5% | 28.0% |
| Net margin | 40.6% | 20.8% | 21.7% | 7.0% | 0.0% | 0.2% | 13.7% | 23.6% | 30.1% | 28.9% | 15.1% | 19.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SBLK's financial statements (latest annual report filed March 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SBLK financial results
In fiscal year 2025 (ended December 31, 2025), Star Bulk Carriers reported revenue of $1.0 billion, down 17.6% from the year before. It had net income of $84.2 million (down 72.4%), a net profit margin of 8.1%. Diluted earnings per share came to $0.98. Over five years revenue grew at an average rate of 8.5% a year.
See the SBLK stock overview for the latest quote and news, or the SBLK chart for price history and technical indicators.
SBLK income statement FAQ
What is Star Bulk Carriers's annual revenue?
Star Bulk Carriers reported total revenue of $1.0 billion for fiscal year 2025, which ended on December 31, 2025. That was down 17.6% from $1.3 billion the previous year.
Is Star Bulk Carriers profitable?
Yes. Star Bulk Carriers reported net income of $84.2 million in fiscal 2025, a net profit margin of 8.1%; its operating margin was 13.5%.
What is Star Bulk Carriers's gross margin?
Star Bulk Carriers's gross margin was 22.5% in fiscal 2025: for every $100 of revenue, Star Bulk Carriers kept $22 after the direct cost of its products and services.
How fast is Star Bulk Carriers growing?
Revenue grew 8.5% a year on average over the last five fiscal years, from $693.2 million to $1.0 billion.
What are Star Bulk Carriers's earnings per share?
Star Bulk Carriers earned $0.98 per diluted share in fiscal 2025, compared with $2.70 a year earlier.
When will Star Bulk Carriers report its next earnings?
Star Bulk Carriers is expected to report results for the quarter ending September 30, 2026 on November 17, 2026.
When does Star Bulk Carriers's fiscal year end?
Star Bulk Carriers's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 19, 2026.