Eurodry Ltd. is a US-listed company in the marine transportation industry. Its financial year ends in December.
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Eurodry Ltd. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months was $75m, up 8.9% on a year earlier, slower than the 190.3% growth a quarter earlier. Free-cash-flow margin rose to 29.8% from -96.7% a year earlier. Operating margin widened to 45.8% from 15.4%. It passes 1 of our 7 financial-health checks.
Our model value for Eurodry is under review, so past values are not shown until it is resolved.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Our discounted-cash-flow model values the business at ~$130 per share in the base case (~$96–$180 across growth scenarios) — model values under stated assumptions, not a price target.
Current signal Revenue growth decelerating: TTM revenue growth slowed to 8.9% (-181.5pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for EDRY from the sources we follow. See filings →
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
We value Eurodry Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 8.7%: the 10-year Treasury yield (4.9%) plus a beta of 0.84 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$74 ~$50–$110 | Included |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$68 ~$58–$83 | Included |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Eurodry Ltd. with Marine Transportation in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Next results: November 12, 2026, before the open. Analysts expect revenue of $21m and EPS of $2.06 (range $1.70 to $2.42) for the quarter.
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $6.21 | +348% | $74m | +32% |
| Next | $6.13 | −1% | $80m | +9% |
The consensus EPS forecast for the current fiscal year is +101.0% on 90 days ago. In the last 30 days, 2 analysts raised Eurodry Ltd.'s forecast and 0 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $3.09 | $4.22 |
| 60 days ago | $3.58 | $4.22 |
| 30 days ago | $3.58 | $4.22 |
| 7 days ago | $3.79 | $6.13 |
| Now | $6.21 | $0.00 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | $1.26 | $2.44 | +93.7% |
| Mar 2026 | $0.28 | $0.12 | −56.4% |
| Dec 2025 | $0.75 | $0.88 | +17.3% |
| Sept 2025 | −$0.34 | −$0.23 | +31.3% |
Adjusted EPS as companies report it, against the average analyst estimate.
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY18 Q4 | $25.9M |
| FY19 Q4 | $28.8M |
| FY20 Q4 | $23.6M |
| FY21 Q4 | $68.5M |
| FY22 Q4 | $74.6M |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY19 Q4 | 11.0% |
| FY20 Q4 | -18.0% |
| FY21 Q4 | 190.3% |
| FY22 Q4 | 8.9% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY18 Q4 | 15.4% |
| FY19 Q4 | 10.4% |
| FY20 Q4 | -11.6% |
| FY21 Q4 | 56.8% |
| FY22 Q4 | 45.8% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY18 Q4 | -96.7% |
| FY19 Q4 | 48.6% |
| FY20 Q4 | 7.3% |
| FY21 Q4 | 3.4% |
| FY22 Q4 | 29.8% |
Each dollar Eurodry took in during FY2022, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.
| Revenue | $74.6M | |
|---|---|---|
| Selling, general and admin | $3.1M | 4.1% of revenue |
| Other operating costs | $37.4M | 50.1% of revenue |
| Operating income | $34.1M | 45.8% of revenue |
| Interest and other | $574,054 | 0.8% of revenue |
| Net income | $33.5M | 45.0% of revenue |
| Fiscal year | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 |
|---|---|---|---|---|---|
| Income | |||||
| Revenue | 26 | 29 | 24 | 69 | 75 |
| Gross profit | 26 | — | — | — | — |
| EBITDA | 9 | 9 | 4 | 47 | 45 |
| Operating income | 4 | 3 | −3 | 39 | 34 |
| Net income | 1 | 0 | −6 | 31 | 34 |
| Diluted EPS | $0.25 | −$0.85 | −$3.28 | $11.54 | $11.61 |
| Growth (year on year) | |||||
| Revenue | — | +11.0% | −18.0% | +190.3% | +8.9% |
| EBITDA | — | +0.5% | −59.7% | +>999% | −3.6% |
| Operating income | — | −24.7% | −191.1% | — | −12.3% |
| Net income | — | −98.5% | — | — | +7.7% |
| Diluted EPS | — | −440.0% | — | — | +0.6% |
| Margins | |||||
| Gross margin | 98.4% | — | — | — | — |
| EBITDA margin | 36.3% | 32.9% | 16.2% | 67.9% | 60.2% |
| Operating margin | 15.4% | 10.4% | −11.6% | 56.8% | 45.8% |
| Net margin | 4.3% | 0.1% | −24.9% | 45.5% | 45.0% |
| Free-cash-flow margin | −96.7% | 48.6% | 7.3% | 3.4% | 44.2% |
| Cash flow | |||||
| Cash from operations | 4 | 15 | 2 | 39 | 33 |
| Capital spending | 29 | 1 | 1 | 37 | 0 |
| Free cash flow | −25 | 14 | 2 | 2 | 33 |
| Stock-based pay | 0 | 0 | 0 | 0 | 1 |
| Free cash flow after stock pay | −25 | 14 | 1 | 2 | 32 |
| Balance sheet | |||||
| Cash | 4 | 5 | 1 | 27 | 34 |
| Total debt | 64 | 57 | 51 | 79 | 82 |
| Net debt (negative = net cash) | 60 | 51 | 50 | 53 | 48 |
| Diluted shares | 2m | 2m | 2m | 3m | 3m |
| Returned to shareholders | |||||
| Buybacks | — | — | 0 | 0 | 2 |
| Total returned | — | — | 0 | 0 | 2 |
| Last 12 months unless stated | EDRY | TOPS | CTRM | PSHG | HMR | GLBS | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $75m | $80m | $82m | $84m | $56m | $44m | $310m |
| Revenue growth, last 12 months | 8.9% | 43.1% | 23.5% | −3.7% | 92.9% | 26.8% | 1.0% |
| Revenue growth, 3-year average | — | 0.3% | — | 4.2% | — | — | 16.8% |
| Operating margin | 45.8% | 32.7% | −22.5% | 61.7% | −8.7% | 10.2% | 19.2% |
| Operating margin, 3-year average | — | −6.0% | — | −115.2% | — | 7.6% | 13.1% |
| Net margin | 45.0% | 3.8% | 23.6% | 59.4% | −40.4% | −4.0% | 13.4% |
| Cash from operations / revenue | 44.2% | 32.9% | 12.3% | 59.5% | 23.6% | 25.7% | 33.3% |
| Free-cash-flow margin | 29.8% | 21.3% | 12.0% | −242.9% | 23.6% | 25.7% | 14.7% |
| Free-cash-flow margin, 3-year average | — | −11.1% | — | −96.4% | — | −29.6% | 9.4% |
| Stock pay / revenue | 1.1% | −0.0% | 0.3% | 0.0% | 8.9% | 0.0% | 0.8% |
| Change in share count | 1.0% | 0.0% | 38.5% | −0.7% | 2.0% | 0.5% | 0.6% |
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Renaissance Technologies LLC | $1.7M | 78K | 51.1% | ▲ 30.0% |
| Marshall Wace, LLP | $770,002 | 35K | 22.9% | ▲ 225.5% |
| Citadel Advisors LLC | $317,055 | 14K | 9.4% | New |
| Quadrature Capital Ltd | $285,774 | 13K | 8.5% | New |
| Morgan Stanley | $90,318 | 4K | 2.7% | ▼ 32.6% |
| UBS Group AG | $83,203 | 4K | 2.5% | New |
| Blackrock, Inc. | $46,735 | 2K | 1.4% | 0.0% |
| Acadian Asset Management LLC | $23,000 | 1K | 0.7% | New |
| Newedge Advisors, LLC | $19,523 | 1K | 0.6% | ▼ 19.5% |
| Royal Bank Of Canada | $7,000 | 0K | 0.2% | New |
| Osaic Holdings, Inc. | $1,751 | 0K | 0.1% | New |
| Archer Investment Corp | $876 | 0K | 0.0% | ▲ 100.0% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Eurodry Ltd.'s complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Kyriakopoulos Panagiotis Director | October 26, 2026 | Sell | 2,067 | $43.80 | $90,535 |
| Pittas Aristeidis P Director | October 15, 2026 | Buy | 300 | $48.17 | $14,450 |
| Pittas Aristeidis P Director | October 13, 2026 | Buy | 350 | $51.18 | $17,913 |
| Aslidis Anastasios Chief Financial Officer | October 1, 2026 | Sell | 3,000 | $55.40 | $166,200 |
| Pittas Aristeidis P Director | September 24, 2026 | Buy | 450 | $51.33 | $23,098 |
| Pittas Aristeidis P Director | August 25, 2026 | Sell | 1,000 | $48.82 | $48,820 |
| Pittas Aristeidis P Director | August 25, 2026 | Sell | 950 | $52.12 | $49,514 |
| Pittas Aristeidis P Director | August 25, 2026 | Sell | 1,000 | $51.40 | $51,400 |
| Pittas Aristeidis P Director | August 25, 2026 | Sell | 250 | $52.12 | $13,030 |
| Karmiri Stefania Corporate Secretary | August 24, 2026 | Sell | 350 | $45.35 | $15,872 |
| Pariaros Symeon Chief Administrative Officer | August 21, 2026 | Sell | 2,676 | $45.80 | $122,561 |
| Pittas Aristeidis P Director | August 21, 2026 | Sell | 250 | $44.56 | $11,140 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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