Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes through the ownership and operation of dry bulk carrier vessels worldwide.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 4.49, read 2026-11-03
Ethical passes the values gate
Price27.30 USD
Fair value31.88
Ethical score70.0/100
Value readUndervaluedas of 3 Nov 2026
Our investment reviews on this name
2026-10-02Read Markdown31.73-14.0% to today ✓Accumulation gives way to Markdown after a 10% rise in 7 weeks
2026-08-12Read Accumulation28.90-5.5% to today Markup gives way to Accumulation after a 6% rise in 6 weeks
2026-07-02Read Markup27.15+0.6% to today ✓First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Star Bulk Carriers Corp. holds its Markdown at $27.30. Consolidating, no directional conviction, held for 373 days.
As held on the ledger · 2026-11-03
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 373 days
Price at the screen
$27.30
Valuation
11.30 trailing · 8.18 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.76
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
32.30%
Below 33%
Interest-bearing debt is just 32.3% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.04%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
15.03%
Below 49%
Money owed to the company is 15.0% of assets, under the 49% limit.
Pass
Revenue purity
1.81%
Below 5%
Only 1.8% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Star Bulk Carriers clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 32%, inside the ~33% line, and interest is about 2% of its income, under the ~5% line, so it passes.
Read as at 2026-11-04. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 3 Nov 2026: it trades at roughly a 14% discount to our $31.88 fair value, 44.50% revenue growth.
Fair value range in USD, drawn from the 2026-11-03 screen. The gold marker is the market price at the same screen. A 14.4% discount to the base estimate.
Where our models see it going: fair-value estimate $31.88, with a range of $29.70 to $37.19, dated to the 2026-11-03 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Shipping cycles turn cheap multiples into traps
Every time iron ore or grain moves across oceans the rates swing hard and fast. Star Bulk looks cheap on a 6.9 times forward earnings multiple with 22 percent revenue growth and a clean ethical screen. Yet the business sits in a classic cyclical industry where low multiples often mark peak earnings rather than bargains. The 13 percent profit margin and 6 percent return on equity already hint that returns stay thin once rates normalise.
We therefore pass on the name. A 27 percent gap to the stated fair value and a strong buy analyst consensus do not change the fact that margins and returns remain hostage to freight cycles that have crushed similar fleets before. Unknown competitive position adds little comfort when the next downturn arrives.
Risk sits in the timing of those cycles and the modest returns the company actually delivers through them. Low multiples in shipping have repeatedly proved warnings not entry points. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: its business and earnings are exposed to Greece and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SBLK trades on Nasdaq (the company is based in Greece). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-04Markdown$27.30-5.3%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 5.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 10% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 64%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it strong buy, with a mean price target of $31. Insiders have been net sellers over the past quarter.
2026-10-28Markdown$28.82+3.0%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 3.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 10% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 64%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it strong buy, with a mean price target of $31. Insiders have been net sellers over the past quarter.
2026-10-21Markdown$27.98-5.8%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 5.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 7% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 64%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it strong buy, with a mean price target of $31. Insiders have been net sellers over the past quarter.
2026-10-14Markdown$29.70-6.4%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 64%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it strong buy, with a mean price target of $31. Insiders have been net sellers over the past quarter.
2026-10-02Markdown · changed$31.73+7.3%Entry 6
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 7.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 64%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it strong buy, with a mean price target of $31. Insiders have been net sellers over the past quarter.
2026-09-12Accumulation$29.58+2.4%Entry 5
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 64%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it strong buy, with a mean price target of $31.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 6.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 64%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it strong buy, with a mean price target of $31.
2026-07-18Markup$27.15+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 64%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it strong buy, with a mean price target of $31.
2026-07-03Markup$27.15+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Markup$27.15Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
