EuroDry (EDRY) AI Stock Analysis

• Market Cap: $34.54M
• Dividend Yield: N/A
• Average Volume (3M): 4.68K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.53
• Revenue Growth: -13.96%
• EPS Growth: -498.96%
• Country: US
• Employees: N/A
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): -1.10
• Shares Outstanding: 2,826,697
• 10 Day Avg. Volume: 11,114
• 30 Day Avg. Volume: 4,677
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 3.74
• Enterprise Value/Revenue: 2.11
• Enterprise Value/Gross Profit: 12.36
• Enterprise Value/Ebitda: 9.29
• 1Y Price Target: $15.25
• Price Target Upside: 22.39% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 50 Neutral
• Price Target: $10.50 ▼(-15.73% Downside)

EuroDry's overall stock score is primarily impacted by its financial performance, which is under pressure due to negative net income and strained cash flows. Technical analysis provides some positive signals with short-term bullish momentum, but valuation remains a concern due to negative earnings and no dividend yield. The earnings call reflects ongoing challenges, though the company is making efforts to address liquidity and operational issues.

Positive Factors

Operational Efficiency

High fleet utilization rates indicate strong operational efficiency, which can lead to better cost management and improved profitability over the long term.

Share Repurchase Plan

The share repurchase plan reflects management's confidence in the company's future prospects and can enhance shareholder value by reducing share count.

Fleet Expansion

Fleet expansion with new vessels under construction positions EuroDry for future growth and increased capacity to meet rising demand in the drybulk market.

Negative Factors

Revenue Decline

A significant revenue decline indicates challenges in maintaining income levels, which can impact long-term financial stability and growth prospects.

Liquidity Concerns

Tight liquidity can limit operational flexibility and investment capacity, posing risks to the company's ability to navigate market fluctuations and fund growth initiatives.

Increased Net Loss

An increased net loss highlights profitability challenges, which may affect the company's ability to sustain operations and invest in future growth.

EuroDry Business Overview & Revenue Model

Company Description

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. As of March 31, 2022, it operated a fleet of ten drybulk carriers comprising five Panamax drybulk carriers, two Ultramax drybulk carrier, two Kamsarmax carriers, and one Supramax drybulk carrier with a cargo capacity of 726,555 deadweight tons. EuroDry Ltd. was incorporated in 2018 and is based in Marousi, Greece.

How the Company Makes Money

EuroDry generates revenue primarily through the operation of its fleet, which earns income by transporting drybulk cargo for various clients. The company typically enters into time charters or spot market contracts, allowing for flexible pricing based on market conditions. Key revenue streams include long-term charter contracts, which provide steady cash flow, and spot market voyages that capitalize on favorable freight rates. Additionally, the company may benefit from partnerships with shipping brokers and charterers that enhance its market presence and operational efficiency. Factors contributing to its earnings include global demand for drybulk commodities, shipping rates, and operational management of its fleet to minimize expenses while maximizing revenue.

EuroDry Financial Statement Overview

Summary

EuroDry faces challenges across its financial statements, with negative net income impacting profitability and return metrics. Revenue growth is inconsistent, and cash flows are strained, particularly free cash flow. Maintaining financial stability requires addressing these issues to improve liquidity and profitability going forward.

Income Statement

EuroDry's income statement reflects significant volatility. The company experienced a revenue growth of 28.32% in 2024, following a decline of 32.2% in 2023. Net profit margins are negative, with a notable decrease in net income from 2022 to 2024, indicating profitability challenges. Gross profit margins are relatively stable but insufficient to offset operating expenses, as evidenced by negative EBIT in 2024.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio of 1.08 in 2024, indicating balanced leverage relative to equity. However, the equity ratio of 45.06% suggests moderate reliance on debt financing. Return on equity has been negative due to net losses, highlighting the need for improved profitability.

Cash Flow

EuroDry's cash flow statement reveals negative free cash flow in recent years, with a significant decline in operating cash flow from 2023 to 2024. The operating cash flow to net income ratio is positive but diminishing, reflecting pressure on cash generation. Free cash flow remains under strain, demonstrating a need for better cash management.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	61.08M	47.59M	70.18M	64.44M	22.29M
Gross Profit	20.81M	8.47M	42.12M	43.98M	3.84M
EBITDA	13.33M	14.38M	48.38M	41.45M	3.15M
Net Income	-9.66M	-2.91M	33.54M	31.15M	-8.21M
Balance Sheet
Total Assets	221.19M	231.05M	199.51M	161.33M	107.51M
Cash, Cash Equivalents and Short-Term Investments	6.71M	10.80M	34.04M	26.85M	938.28K
Total Debt	107.19M	103.93M	81.22M	78.65M	51.11M
Total Liabilities	112.64M	111.63M	85.56M	82.41M	56.97M
Stockholders Equity	99.69M	109.66M	113.94M	78.92M	50.54M
Cash Flow
Free Cash Flow	-3.92M	-53.50M	-4.80M	2.31M	1.71M
Operating Cash Flow	4.81M	11.81M	32.99M	39.14M	2.33M
Investing Cash Flow	-8.73M	-65.30M	-28.40M	-36.82M	-611.11K
Financing Cash Flow	1.73M	30.47M	3.01M	22.61M	-6.24M

EuroDry Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.46
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 12.46 is above the 20-day moving average (MA) of 11.61, above the 50-day MA of 10.96, and above the 200-day MA of 10.40, indicating a bullish trend. The MACD of 0.53 indicates Negative momentum. The RSI at 62.78 is Neutral, neither overbought nor oversold. The STOCH value of 25.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EDRY.

EuroDry Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PSHG	68 Neutral	23.37M	0.94	15.89%	―	-7.48%	3.08%
PXS	62 Neutral	28.99M	-82.47	13.78%	―	-10.94%	-100.28%
TOPS	60 Neutral	25.35M	5.11	3.49%	―	3.83%	0.00%
CTRM	54 Neutral	21.26M	-0.95	2.56%	―	-29.15%	-118.42%
EDRY	50 Neutral	$34.54M	―	-14.42%	―	-13.96%	-498.96%
GLBS	47 Neutral	25.11M	-4.15	0.24%	―	11.80%	-186.40%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

EuroDry Corporate Events

EuroDry Ltd. Sells Panamax Bulk Carrier as Part of Fleet Renewal

On September 15, 2025, EuroDry Ltd. announced an agreement to sell the M/V Eirini P, a 2004-built Panamax Bulk Carrier, for approximately $8.5 million. This sale is part of EuroDry’s fleet renewal program and is expected to generate a gain of about $0.6 million, enhancing the company’s balance sheet and liquidity. The transaction reflects EuroDry’s strategic focus on modernizing its fleet and improving operational efficiency.

EuroDry Ltd. Reports Q2 2025 Financial Results Amid Market Challenges

EuroDry Ltd. reported its financial results for the second quarter and first half of 2025, revealing a net loss of $3.1 million for the quarter and $6.8 million for the first half. The company faced challenges due to lower time charter equivalent rates and a decreased average number of vessels compared to the previous year. Despite a slight recovery in the drybulk market, the rebound was insufficient to return to profitability. The company has been actively repurchasing shares under its buyback program and plans to release its 2024 Sustainability/ESG Report. The outlook remains uncertain due to geopolitical tensions and macroeconomic factors, but EuroDry is considering longer-term charters if market conditions improve.

EuroDry Ltd. Announces 2025 AGM Results

On July 24, 2025, EuroDry Ltd. announced the outcomes of its Annual General Meeting of Shareholders held on July 23, 2025. Shareholders approved the re-election of Mr. George Taniskidis and Mr. Apostolos Tamvakakis as Class B Directors for a three-year term and confirmed Deloitte Certified Public Accountants, S.A. as the independent auditors for the fiscal year ending December 31, 2025. These decisions are crucial for EuroDry’s governance and financial oversight, potentially impacting its strategic direction and stakeholder confidence.

EuroDry Ltd. Schedules 2025 Annual Shareholders Meeting

On July 2, 2025, EuroDry Ltd. announced its upcoming Annual General Meeting of Shareholders, scheduled for July 23, 2025, in Washington, DC. Shareholders of record as of June 25, 2025, are eligible to attend and vote. This meeting is a significant event for the company as it provides an opportunity for shareholders to engage with the management and discuss the company’s future direction. The announcement underscores EuroDry’s commitment to transparency and shareholder engagement, which are crucial for maintaining investor confidence and supporting the company’s strategic goals in the competitive drybulk shipping industry.