EuroDry AI Stock Analysis
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EuroDry (EDRY) AI Stock Analysis
EuroDry
(NASDAQ:EDRY)
The score is primarily driven by improving (but still uneven) financial performance—stronger TTM operating metrics and materially better cash generation are tempered by elevated leverage and recent profitability volatility. Technicals are a key drag, with the stock trading below major moving averages and bearish momentum indicators. Valuation is reasonable at a mid-teens-to-low-teens P/E, and the latest earnings call was broadly constructive on operational performance and liquidity, but it highlighted rate uncertainty, upcoming dry-docking costs, and significant scheduled debt repayments.
EuroDry Key Performance Indicators (KPIs)
Fleet Utilization RateShows the share of the fleet that is actively employed and earning revenue. High utilization supports steady cash flow and better coverage of fixed costs, while low utilization signals idle capacity, lost revenue, and pressure on margins.
Utilization has been consistently at or near full deployment, with only a short-lived dip tied to a dry-dock/operational interruption in mid‑2023; management reports 99.7% in Q1 2026. High utilization has amplified recent TCE and EBITDA recovery and supported buybacks/NAV upside, but planned fleet growth (11→15 vessels), conditional newbuild financing and modest hedges mean maintaining those per‑vessel economics is critical — rising breakevens and potential market softening could erode margins even if utilization stays high.
The FlyEuroDry (EDRY) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $113.26M
- Dividend Yield
- ―
- Average Volume (3M)
- 142.67K
- Price to Earnings (P/E)
- 12.5
- Beta (1Y)
- 1.08
- Revenue Growth
- 36.26%
- EPS Growth
- ―
- Country
- US
- Employees
- 252
- Sector
- Industrials
- Sector Strength
- 63
- Industry
- Marine Shipping
EuroDry Business Overview & Revenue Model
Company Description
EuroDry Ltd., a global marine shipping firm founded in 2018 and based in Marousi, Greece, provides worldwide ocean-going transport services through its subsidiaries. The company owns and manages a fleet of dry bulk carriers. These vessels are primari...
How the Company Makes Money
EuroDry primarily makes money by providing ocean transportation services using its owned/operated dry bulk vessels. Its core revenue comes from chartering its ships to customers (charter hire), which can be structured under different charter arrangem...
EuroDry Earnings Call Summary
The call was predominantly positive, supported by strong revenue and earnings growth, substantially higher TCE rates, improved cash generation, strong liquidity, favorable asset values, and continued fleet renewal. The company also reported strong utilization and constructive dry bulk market fundamentals. Offsetting factors included recent rate moderation, a $556,000 FFA loss, higher operating and upcoming dry-docking costs, scheduled debt repayments, shipyard constraints, and significant macroeconomic and geopolitical uncertainty.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management offered no specific long-term view on 2027 rates, basing forecasts on the FFA curve, which is “a little bit lower” than current levels; if supply/demand remains balanced, rates could remain at “quite good levels,” while fleet growth is expected at “4% to 5% fleet growth annually for the next 3 years.” Deliveries are scheduled for the second and third quarters of 2027, the first and second quarters of 2028 and the third quarter of 2029, with fleet capacity expanding to approximately 1.1 million deadweight tons; Clarksons forecasts ton-mile growth of 4.1% in 2026, 3.3% in 2027 and 2.8% in 2028. The company expects about $4 million of dry-docking costs for 3 vessels, “roughly split equally” and falling “roughly between Q4 and Q1, 50-50 roughly”; the first payment on the last Kamsarmax order will probably be around January, and the company may consider a year’s charter only at levels “in excess of $20,000 a day.”
EuroDry Financial Statement Overview
Summary
Fundamentals are improving but still cyclical and leveraged. Income statement shows a revenue rebound (+11.5% TTM) and strong operating profitability (EBIT ~13%, EBITDA ~35%), yet recent years included net losses and TTM net margin remains slightly negative. Balance sheet leverage is elevated (debt-to-equity ~1.07) despite ROE improving to ~9.9% in TTM. Cash flow is a relative bright spot with stronger TTM operating cash flow (~$24.9M) and free cash flow (~$17.3M), though historical FCF has been uneven.
Income Statement
56NeutralBalance Sheet
54NeutralCash Flow
62Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 62.27M | 52.26M | 61.08M | 47.59M | 70.18M | 64.44M |
| Gross Profit | 22.80M | 6.41M | 20.81M | 8.47M | 37.30M | 43.98M |
| EBITDA | 29.40M | 15.83M | 13.33M | 14.17M | 48.15M | 41.15M |
| Net Income | 9.35M | -4.26M | -9.66M | -2.91M | 33.54M | 31.15M |
Balance Sheet | ||||||
| Total Assets | 212.47M | 212.10M | 219.74M | 231.05M | 199.51M | 161.33M |
| Cash, Cash Equivalents and Short-Term Investments | 28.44M | 22.47M | 6.71M | 10.80M | 35.24M | 26.85M |
| Total Debt | 97.39M | 102.88M | 107.19M | 103.93M | 81.22M | 78.65M |
| Total Liabilities | 103.03M | 109.59M | 114.14M | 111.63M | 85.56M | 82.41M |
| Stockholders Equity | 100.09M | 93.27M | 96.74M | 109.66M | 113.94M | 78.92M |
Cash Flow | ||||||
| Free Cash Flow | 17.30M | 5.40M | -3.92M | -53.50M | -4.80M | 2.31M |
| Operating Cash Flow | 24.94M | 12.76M | 4.81M | 11.81M | 32.99M | 39.14M |
| Investing Cash Flow | 617.72K | 6.14M | -8.73M | -65.30M | -28.40M | -36.82M |
| Financing Cash Flow | -5.45M | -5.13M | 1.73M | 30.47M | 3.01M | 22.61M |
EuroDry Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EDRY, the sentiment is Positive. The current price of 42.15 is below the 20-day moving average (MA) of 42.43, below the 50-day MA of 51.61, and above the 200-day MA of 30.81, indicating a neutral trend. The MACD of -3.31 indicates Negative momentum. The RSI at 46.13 is Neutral, neither overbought nor oversold. The STOCH value of 49.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EDRY.
EuroDry Risk Analysis
EuroDry disclosed 87 risk factors in its most recent earnings report. EuroDry reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
3 New RisksEuroDry Peers Comparison
Overall Rating
PXS76Outperform
GLBS74Outperform
PSHG74Outperform
CTRM63Neutral- EDRY56Neutral
TOPS52Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| PXS | 76Outperform | $58.36M | 7.13 | 8.79% | ― | -5.01% | ― |
| GLBS | 74Outperform | $64.53M | 9.10 | 3.80% | ― | 47.79% | ― |
| PSHG | 74Outperform | $25.55M | 0.79 | 10.21% | ― | 34.61% | -41.81% |
| Sector * | 63Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
| CTRM | 63Neutral | $12.85M | 0.14 | 15.86% | ― | 33.15% | ― |
| EDRY | 56Neutral | $113.26M | 12.53 | 9.92% | ― | 36.26% | ― |
| TOPS | 52Neutral | $4.02M | -0.97 | 2.21% | ― | -29.35% | -112.70% |
* Industrials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| EDRY | Eurodry | 42.15 | 29.10 | 222.99% | |
| PSHG | Performance Shipping Inc. | 2.02 | -0.21 | -9.42% | |
| GLBS | Globus Maritime | 2.87 | 1.67 | 139.17% | |
| TOPS | Top Ships | 2.81 | -57.99 | -95.38% | |
| PXS | Pyxis Tankers | 5.65 | 2.96 | 110.04% | |
| CTRM | Castor Maritime | 1.31 | -0.66 | -33.50% |
EuroDry Corporate Events
EuroDry Orders Third Eco-Design Kamsarmax Bulk Carrier
On October 14, 2026, EuroDry Ltd. announced that it has ordered the construction of a third 82,000 DWT Kamsarmax bulk carrier from Hengli Shipbuilding in Dalian. The new vessel will be built to eco-design specifications compliant with EEDI Phase 3 st...
EuroDry Swings to Profit on Higher Charter Revenues in First Half 2026
EuroDry reported results on October 5, 2026 for the six months ended June 30, 2026, highlighting a sharp rebound from a loss in the prior-year period to net income of $7.4 million, driven by a rise in time charter revenue to $32.6 million and improve...
EuroDry Sets Up $20 Million At-the-Market Share Offering With A.G.P.
On September 11, 2026, EuroDry Ltd. entered into an Equity Distribution Agreement with A.G.P./Alliance Global Partners to conduct an at-the-market offering of up to $20 million of its common shares. The arrangement allows the drybulk shipping company...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 11, 2026