Safe BulkersATH:SB +0.89%51 Return-on-Tangible-Equity is 21.05% as of Mar. 2026, which is 296% above its 10-year median of 5.32. GuruFocus rates ATH:SB with a GF Score™ of 51/100 and a GF Value™ of €3.92 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 983 Transportation companies, Safe Bulkers ranks worse than 60.53% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Safe Bulkers's annualized net income for the quarter that ended in Mar. 2026 was €76,833 Mil. Safe Bulkers's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €365,035 Mil. Therefore, Safe Bulkers's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 21.05%.
The historical rank and industry rank for Safe Bulkers's Return-on-Tangible-Equity or its related term are showing as below:
ATH:SB'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -16.36 Med: 5.32 Max: 31.02
Current: 6.46
During the past 13 years, Safe Bulkers's highest Return-on-Tangible-Equity was 31.02%. The lowest was -16.36%. And the median was 5.32%.
ATH:SB's Return-on-Tangible-Equity is ranked worse than 60.53% of 983
companies
in the Transportation industry
Industry Median: 9.02
vs ATH:SB: 6.46
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Safe Bulkers Return-on-Tangible-Equity Related Terms
Safe Bulkers Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Safe Bulkers's Return-on-Tangible-Equity 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 Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Transportation Industry
For the Transportation industry and Industrials sector, Safe Bulkers's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Safe Bulkers's Return-on-Tangible-Equity 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 21.05% mean?
Safe Bulkers (ATH:SB) has a Return-on-Tangible-Equity of 21.05% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Safe Bulkers and its competitors. This is 296% above median its historical median of 5.32. According to the industry distribution chart, Safe Bulkers ranks #595 out of 983 companies in the Transportation industry, placing it in the top 60.5%.
Is Safe Bulkers' Return-on-Tangible-Equity too high?
Safe Bulkers' current Return-on-Tangible-Equity of 21.05% is 296% above median its 10-year median of 5.32. The Transportation industry median Return-on-Tangible-Equity is 9.02. Safe Bulkers' value of 21.05% is 133.4% above this industry median. Based on the distribution chart, Safe Bulkers ranks #595 out of 983 companies in the Transportation industry, which is below the industry midpoint. Overall, Safe Bulkers has a GF Score™ of 51/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Safe Bulkers' Return-on-Tangible-Equity compare to ?
According to the Transportation industry distribution chart, Safe Bulkers ranks #595 out of 983 companies for Return-on-Tangible-Equity. This places Safe Bulkers in the lower half of its industry. The industry median Return-on-Tangible-Equity is 9.02. Safe Bulkers' value of 21.05% is 133.4% above this benchmark. While the company's 10-year median is 5.32 vs. the industry median of 9.02, 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 Return-on-Tangible-Equity for a Transportation company?
The median Return-on-Tangible-Equity among Transportation companies is 9.02, based on 983 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Safe Bulkers's current Return-on-Tangible-Equity of 21.05% is 133.4% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Safe Bulkers and its competitors. For the Transportation industry, the median Return-on-Tangible-Equity is 9.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Safe Bulkers's current Return-on-Tangible-Equity is 21.05%, which is 296% above median its own 10-year median of 5.32. 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 (ATH:SB) is currently considered Significantly Overvalued. The stock's GF Value™ is €3.92, compared to a current price of €6.25 — trading 59.3% above its estimated fair value. The current Return-on-Tangible-Equity is 21.05%, which is 296% above median its 10-year median of 5.32 and 133.4% above the Transportation industry median of 9.02. Safe Bulkers' overall GF Score™ is 51/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Safe Bulkers (ATH:SB), the current Return-on-Tangible-Equity is 21.05% 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 (ATH:SB) Overvalued in 2026?
Based on GuruFocus' analysis, Safe Bulkers stock appears to be overvalued.
The current stock price of €6.25 is trading 59.3% above its estimated GF Value™ of €3.92.
GuruFocus considers Safe Bulkers to be Significantly Overvalued.
Key valuation signals for ATH:SB:
Return-on-Tangible-Equity: 21.05% (296% above median its 10-year median of 5.32)
GF Value™: €3.92 vs. price of €6.25 (59.3% above fair value)
Industry Position: 133.4% above the Transportation median (#595 of 983)
No single metric tells the full story. See the ATH: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.
51GF Score
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