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Safe BulkersSB +2.44%64 Graham Number is $9.21 as of Mar. 2026, which is 2042% above its 10-year median of 0.43. GuruFocus rates SB with a GF Score™ of 64/100 and a GF Value™ of $4.58 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 742 Transportation companies, Safe Bulkers ranks better than 65.36% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-07-14), the stock price of Safe Bulkers is $7.13. Safe Bulkers's graham number for the quarter that ended in Mar. 2026 was $9.21. Therefore, Safe Bulkers's Price to Graham Number ratio for today is 0.77.
The historical rank and industry rank for Safe Bulkers's Graham Number or its related term are showing as below:
SB'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.17 Med: 0.43 Max: 3.34
Current: 0.77
During the past 13 years, the highest Price to Graham Number ratio of Safe Bulkers was 3.34. The lowest was 0.17. And the median was 0.43.
SB's Price-to-Graham-Number is ranked better than 65.36% of 742
companies
in the Transportation industry
Industry Median: 1.015
vs SB: 0.77
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Safe Bulkers (NYSE:SB) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Safe Bulkers's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
7.13
/
9.21
=
0.77
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Safe Bulkers Graham Number Related Terms
Safe Bulkers Graham Number Historical Data
* Premium members only.
The historical data trend for Safe Bulkers's Graham Number can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Marine Shipping subindustry, Safe Bulkers's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Safe Bulkers Price-to-Graham-Number vs Transportation Industry
For the Transportation industry and Industrials sector, Safe Bulkers's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Safe Bulkers's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Safe Bulkers (SB) has a Graham Number of $9.21 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Safe Bulkers and its competitors. This is 2042% above median its historical median of 0.43. Over the past decade, Safe Bulkers' Graham Number has ranged from 0.17 to 3.34. According to the industry distribution chart, Safe Bulkers ranks #257 out of 742 companies in the Transportation industry, placing it in the top 34.6%.
Is Safe Bulkers' Graham Number too high?
Safe Bulkers' current Graham Number of $9.21 is 2042% above median its 10-year median of 0.43. Over the past 10 years, this metric has ranged from a low of 0.17 to a high of 3.34. The Transportation industry median Graham Number is 1.02. Safe Bulkers' value of $9.21 is 807.4% above this industry median. Based on the distribution chart, Safe Bulkers ranks #257 out of 742 companies in the Transportation industry, which is above the industry midpoint. Overall, Safe Bulkers has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Safe Bulkers' Graham Number compare to ASC and ESEA?
According to the Transportation industry distribution chart, Safe Bulkers ranks #257 out of 742 companies for Graham Number. This puts Safe Bulkers in the upper half of its industry. The industry median Graham Number is 1.02. Safe Bulkers' value of $9.21 is 807.4% above this benchmark. Historically, Safe Bulkers' own Graham Number has ranged from 0.17 to 3.34 over the past decade. While the company's 10-year median is 0.43 vs. the industry median of 1.02, Safe Bulkers has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Transportation company?
The median Graham Number among Transportation companies is 1.02, based on 742 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Safe Bulkers's current Graham Number of $9.21 is 807.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Safe Bulkers and its competitors. For the Transportation industry, the median Graham Number is 1.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Safe Bulkers's current Graham Number is $9.21, which is 2042% above median its own 10-year median of 0.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Safe Bulkers stock overvalued right now?
Based on GuruFocus' analysis, Safe Bulkers (SB) is currently considered Significantly Overvalued. The stock's GF Value™ is $4.58, compared to a current price of $7.13 — trading 55.7% above its estimated fair value. The current Graham Number is $9.21, which is 2042% above median its 10-year median of 0.43 and 807.4% above the Transportation industry median of 1.02. Safe Bulkers' overall GF Score™ is 64/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Safe Bulkers (SB), the current Graham Number is $9.21 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Safe Bulkers (SB) Overvalued in 2026?
Based on GuruFocus' analysis, Safe Bulkers stock appears to be overvalued.
The current stock price of $7.13 is trading 55.7% above its estimated GF Value™ of $4.58.
GuruFocus considers Safe Bulkers to be Significantly Overvalued.
Key valuation signals for SB:
Graham Number: $9.21 (2042% above median its 10-year median of 0.43)
GF Value™: $4.58 vs. price of $7.13 (55.7% above fair value)
Industry Position: 807.4% above the Transportation median (#257 of 742)
No single metric tells the full story. See the SB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Safe Bulkers Inc is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain, and iron ore, along international shipping routes for consumers of marine drybulk transportation services. The company employs its vessels on both period time charters and spot time charters, according to the assessment of market conditions, with consumers of marine drybulk transportation services. The company generates almost all of its revenue from Time Charters.
64GF Score
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