Safe BulkersSB +1.43%69 ROC (Joel Greenblatt) % is 9.51% as of Mar. 2026, which is 70% above its 10-year median of 5.61. GuruFocus rates SB with a GF Score™ of 69/100 and a GF Value™ of $4.53 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 996 Transportation companies, Safe Bulkers ranks worse than 68.67% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Safe Bulkers's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 9.51%.
The historical rank and industry rank for Safe Bulkers's ROC (Joel Greenblatt) % or its related term are showing as below:
SB'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -6.11 Med: 5.61 Max: 19.82
Current: 6.8
During the past 13 years, Safe Bulkers's highest ROC (Joel Greenblatt) % was 19.82%. The lowest was -6.11%. And the median was 5.61%.
SB's ROC (Joel Greenblatt) % is ranked worse than 68.67% of 996
companies
in the Transportation industry
Industry Median: 11.695
vs SB: 6.80
Safe Bulkers's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 21.10% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Safe Bulkers ROC (Joel Greenblatt) % Related Terms
Safe Bulkers ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Safe Bulkers's ROC (Joel Greenblatt) % 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.
SB vs ASC, ESEA, PANL: ROC (Joel Greenblatt) % Comparison
For the Marine Shipping subindustry, Safe Bulkers's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Transportation Industry
For the Transportation industry and Industrials sector, Safe Bulkers's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Safe Bulkers's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 9.51% mean?
Safe Bulkers (SB) has a ROC (Joel Greenblatt) % of 9.51% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Safe Bulkers and its competitors. This is 70% above median its historical median of 5.61. According to the industry distribution chart, Safe Bulkers ranks #684 out of 996 companies in the Transportation industry, placing it in the top 68.7%.
Is Safe Bulkers' ROC (Joel Greenblatt) % too high?
Safe Bulkers' current ROC (Joel Greenblatt) % of 9.51% is 70% above median its 10-year median of 5.61. The Transportation industry median ROC (Joel Greenblatt) % is 11.70. Safe Bulkers' value of 9.51% is 18.7% below this industry median. Based on the distribution chart, Safe Bulkers ranks #684 out of 996 companies in the Transportation industry, which is below the industry midpoint. Overall, Safe Bulkers has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Safe Bulkers' ROC (Joel Greenblatt) % compare to ASC and ESEA?
According to the Transportation industry distribution chart, Safe Bulkers ranks #684 out of 996 companies for ROC (Joel Greenblatt) %. This places Safe Bulkers in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 11.70. Safe Bulkers' value of 9.51% is 18.7% below this benchmark. While the company's 10-year median is 5.61 vs. the industry median of 11.70, Safe Bulkers has consistently been below 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 ROC (Joel Greenblatt) % for a Transportation company?
The median ROC (Joel Greenblatt) % among Transportation companies is 11.70, based on 996 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Safe Bulkers's current ROC (Joel Greenblatt) % of 9.51% is 18.7% below 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Safe Bulkers and its competitors. For the Transportation industry, the median ROC (Joel Greenblatt) % is 11.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Safe Bulkers's current ROC (Joel Greenblatt) % is 9.51%, which is 70% above median its own 10-year median of 5.61. 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 $4.53, compared to a current price of $6.40 — trading 41.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is 9.51%, which is 70% above median its 10-year median of 5.61 and 18.7% below the Transportation industry median of 11.70. Safe Bulkers' overall GF Score™ is 69/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Safe Bulkers (SB), the current ROC (Joel Greenblatt) % is 9.51% 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 $6.40 is trading 41.3% above its estimated GF Value™ of $4.53.
GuruFocus considers Safe Bulkers to be Significantly Overvalued.
Key valuation signals for SB:
ROC (Joel Greenblatt) %: 9.51% (70% above median its 10-year median of 5.61)
GF Value™: $4.53 vs. price of $6.40 (41.3% above fair value)
Industry Position: 18.7% below the Transportation median (#684 of 996)
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.
69GF Score
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