1.Sales and profit
See section β- EuroDry Ltd. lost $3.8M in fiscal 2025.
EuroDry Ltd.
EDRY Nasdaq Water Transportation Financials FY2016βFY2025
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3-page PDF: the company, its results and charts with peers.
KIRAβs summary AI analyst
Hi! I read EuroDry Ltd.βs latest annual report (fiscal 2025). Here is what stands out:
3 to watch
2.Cash and shareholders
See section β- EuroDry Ltd. returned $0.0M to shareholders in fiscal 2025.
- No open-market insider trades in the last 12 months.
3.Financial health
See section β- EuroDry Ltd. owes $83.4M more than it holds in cash, about 5.4 years of operating profit.
- Its return on capital was 1.3%: every 100 invested in the business earned about 1 in a year.
EuroDry Ltd. in 30 seconds
Good So-so Weak
Weak
Does it make a profit?
β$3.8M
No. It lost money last year.
Weak
Is debt under control?
5.4x
Heavy. Repaying its debt would take 5.4 years of operating profit.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
β
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
Sales and profit
Is it selling more, and how much does it keep?
Results dates
In plain words: Every quarter, companies publish how much they sold and earned. These are the days EuroDry Ltd. did it, and the next one. Share prices often move a lot on those days.
Next results
November 12, 2026
Thursday Β· in 18 days
- Time
- Time not announced
- Covers
- Period ended Sep 30, 2026
- Expected EPS
- $1.70
- Source
- Earnings calendar
| Date | Results for | Time | Source |
|---|---|---|---|
| Apr 28, 2026 | Period ended Dec 31, 2025 | During market hours | 20-F β |
| May 15, 2025 | Period ended Dec 31, 2024 | After the market closes | 20-F β |
| Apr 24, 2024 | Period ended Dec 31, 2023 | After the market closes | 20-F β |
| Apr 24, 2023 | Period ended Dec 31, 2022 | After the market closes | 20-F β |
| Apr 15, 2022 | Period ended Dec 31, 2021 | During market hours | 20-F β |
| Apr 22, 2021 | Period ended Dec 31, 2020 | After the market closes | 20-F β |
| Apr 17, 2020 | Period ended Dec 31, 2019 | Time not announced | 20-F β |
| Apr 30, 2019 | Period ended Dec 31, 2018 | After the market closes | 20-F β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
Revenue and margins
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
FY16
Revenue β
FY17
Revenue β
FY18
Revenue $25.9M
FY19
Revenue $28.8M
FY20
Revenue $23.6M
FY21
Revenue $68.5M
FY22
Revenue $74.6M
FY23
Revenue β
FY24
Revenue β
FY25
Revenue β
FY16
Gross β
Operating β
Net β
FCF β
FY17
Gross β
Operating β
Net β
FCF β
FY18
Gross 98.4%
Operating 15.4%
Net 4.3%
FCF β96.7%
FY19
Gross β
Operating 10.4%
Net 0.1%
FCF 48.6%
FY20
Gross β
Operating β11.6%
Net β24.9%
FCF 7.3%
FY21
Gross β
Operating 56.8%
Net 45.5%
FCF 3.4%
FY22
Gross β
Operating 45.8%
Net 45.0%
FCF β
FY23
Gross β
Operating β
Net β
FCF β
FY24
Gross β
Operating β
Net β
FCF β
FY25
Gross β
Operating β
Net β
FCF β
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· EuroDry Ltd. lost $3.8M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
FY16
Net income β$10.1M
FY17
Net income $0.8M
FY18
Net income $1.1M
FY19
Net income $0.0M
FY20
Net income β$5.9M
FY21
Net income $31.2M
FY22
Net income $33.5M
FY23
Net income β$3.3M
FY24
Net income β$13.5M
FY25
Net income β$3.8M
FY16
Diluted EPS β$6.21
FY17
Diluted EPS $0.38
FY18
Diluted EPS $0.25
FY19
Diluted EPS β$0.85
FY20
Diluted EPS β$3.28
FY21
Diluted EPS $11.54
FY22
Diluted EPS $11.61
FY23
Diluted EPS β$1.05
FY24
Diluted EPS β$4.62
FY25
Diluted EPS β
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
FY16
Free cash flow β$20.0M
FY17
Free cash flow β$6.7M
FY18
Free cash flow β$25.1M
FY19
Free cash flow $14.0M
FY20
Free cash flow $1.7M
FY21
Free cash flow $2.3M
FY22
Free cash flow β
FY23
Free cash flow β
FY24
Free cash flow β
FY25
Free cash flow β
FY16
Cash from operations $4.3M
Capital spending $24.2M
FY17
Cash from operations $2.9M
Capital spending $9.6M
FY18
Cash from operations $4.0M
Capital spending $29.0M
FY19
Cash from operations $15.1M
Capital spending $1.1M
FY20
Cash from operations $2.3M
Capital spending $0.6M
FY21
Cash from operations $39.1M
Capital spending $36.8M
FY22
Cash from operations $33.0M
Capital spending β
FY23
Cash from operations $11.8M
Capital spending β
FY24
Cash from operations $4.8M
Capital spending β
FY25
Cash from operations $12.8M
Capital spending β
Cash from operations
Capital spending
Dividends, buybacks and share count
KIRA Β· EuroDry Ltd. returned $0.0M to shareholders in fiscal 2025.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
FY16
Dividends β
Buybacks β
FY17
Dividends β
Buybacks β
FY18
Dividends β
Buybacks β
FY19
Dividends β
Buybacks β
FY20
Dividends β
Buybacks $0.0M
FY21
Dividends β
Buybacks $0.0M
FY22
Dividends β
Buybacks $2.0M
FY23
Dividends β
Buybacks $2.0M
FY24
Dividends β
Buybacks $1.3M
FY25
Dividends β
Buybacks $0.0M
Dividends
Buybacks
FY16
Diluted shares 0.00B
FY17
Diluted shares 0.00B
FY18
Diluted shares 0.00B
FY19
Diluted shares 0.00B
FY20
Diluted shares 0.00B
FY21
Diluted shares 0.00B
FY22
Diluted shares 0.00B
FY23
Diluted shares 0.00B
FY24
Diluted shares 0.00B
FY25
Diluted shares β
Insider trades
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
KIRA Β· EuroDry Ltd. owes $83.4M more than it holds in cash, about 5.4 years of operating profit.
Cash, debt and the ratios that show how comfortably EuroDry Ltd. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
FY16
Cash $0.6M
Debt β
FY17
Cash $1.3M
Debt $38.3M
FY18
Cash $4.4M
Debt $63.9M
FY19
Cash $5.4M
Debt $56.9M
FY20
Cash $0.9M
Debt $51.4M
FY21
Cash $26.8M
Debt $79.4M
FY22
Cash $34.0M
Debt $81.9M
FY23
Cash $8.0M
Debt $105M
FY24
Cash $6.7M
Debt $108M
FY25
Cash $20.3M
Debt $104M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $26.8M | $34.0M | $8.0M | $6.7M | $20.3M |
| Debt incl. finance leases | $79.4M | $81.9M | $105M | $108M | $104M |
| Net debt / EBITDA | 1.1x | 1.1x | 8.0x | 13.4x | 5.4x |
| Debt / equity | 1.0x | 0.7x | 1.0x | 1.1x | 1.1x |
| Interest coverage | 19.1x | 9.4x | 0.2x | β0.8x | 0.5x |
| Current ratio | 1.7x | 1.8x | 1.0x | 1.2x | 1.5x |
| Quick ratio | 1.7x | 1.7x | 0.8x | 1.1x | 1.5x |
| Total assets | $161M | $200M | $231M | $220M | $212M |
| Total liabilities | $82.4M | $85.6M | $112M | $114M | $110M |
| Shareholders' equity | $78.9M | $114M | $110M | $96.7M | $93.3M |
| Net debt (β = net cash) | $52.5M | $47.8M | $96.8M | $101M | $83.4M |
Returns on capital
KIRA Β· Its return on capital was 1.3%: every 100 invested in the business earned about 1 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
FY16
Return on capital β
Return on equity β32.6%
Return on assets β
FY17
Return on capital 3.0%
Return on equity 2.7%
Return on assets 0.9%
FY18
Return on capital 3.1%
Return on equity 2.9%
Return on assets 1.0%
FY19
Return on capital 2.5%
Return on equity 0.0%
Return on assets 0.0%
FY20
Return on capital β2.5%
Return on equity β15.4%
Return on assets β5.2%
FY21
Return on capital 23.4%
Return on equity 54.9%
Return on assets 23.2%
FY22
Return on capital 16.7%
Return on equity 34.8%
Return on assets 18.6%
FY23
Return on capital 0.4%
Return on equity β2.9%
Return on assets β1.5%
FY24
Return on capital β2.5%
Return on equity β13.1%
Return on assets β6.0%
FY25
Return on capital 1.3%
Return on equity β4.0%
Return on assets β1.8%
Return on capital
Return on equity
Return on assets
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 4 | 5 / 7 | 5 / 8 | 3 / 8 | 6 / 8 | 4 / 8 | 3 / 7 | 4 / 7 | β / 6 |
| Accruals ratio | β | β2.1% | β2.5% | β12.3% | β7.3% | β5.9% | 0.3% | β7.0% | β8.1% | β7.7% |
| Altman Z'' | β | 0.26 | 0.96 | 0.50 | β0.90 | 3.36 | 3.95 | 1.61 | 1.26 | 1.67 |
All figures
Every number, year by year.
10 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | β | β | $25.9M | $28.8M | $23.6M | $68.5M | $74.6M | β | β | β |
| Gross profit | β | β | $25.5M | β | β | β | β | β | β | β |
| Operating income | β$9.0M | $2.6M | $4.0M | $3.0M | β$2.7M | $38.9M | $34.1M | $1.1M | β$6.3M | $3.0M |
| Interest expense | $0.7M | $1.6M | $2.5M | $3.4M | $2.2M | $2.0M | $3.6M | $6.3M | $7.7M | $6.5M |
| Net income | β$10.1M | $0.8M | $1.1M | $0.0M | β$5.9M | $31.2M | $33.5M | β$3.3M | β$13.5M | β$3.8M |
| Net income to common | β$10.1M | $0.8M | $0.6M | β$1.9M | β$7.5M | $29.4M | $33.5M | β$2.9M | β$12.6M | β$4.3M |
| Diluted EPS | β$6.21 | $0.38 | $0.25 | β$0.85 | β$3.28 | $11.54 | $11.61 | β$1.05 | β$4.62 | β |
| Diluted shares | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | β |
| Cash flow | ||||||||||
| Cash from operations | $4.3M | $2.9M | $4.0M | $15.1M | $2.3M | $39.1M | $33.0M | $11.8M | $4.8M | $12.8M |
| Capital expenditure | $24.2M | $9.6M | $29.0M | $1.1M | $0.6M | $36.8M | β | β | β | β |
| Free cash flow | β$20.0M | β$6.7M | β$25.1M | $14.0M | $1.7M | $2.3M | β | β | β | β |
| Depreciation and amortization | $3.8M | $4.8M | $5.4M | $6.5M | $6.6M | $7.7M | $10.8M | $11.0M | $13.9M | $12.4M |
| Stock-based compensation | β | $0.0M | $0.1M | $0.2M | $0.2M | $0.2M | $0.8M | $0.8M | $1.0M | $0.8M |
| Share buybacks | β | β | β | β | $0.0M | $0.0M | $2.0M | $2.0M | $1.3M | $0.0M |
| Dividends and buybacks | β | β | β | β | $0.0M | $0.0M | $2.0M | $2.0M | $1.3M | $0.0M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $0.6M | $1.3M | $4.4M | $5.4M | $0.9M | $26.8M | $34.0M | $8.0M | $6.7M | $20.3M |
| Total debt | β | $38.3M | $63.9M | $56.9M | $51.4M | $79.4M | $81.9M | $105M | $108M | $104M |
| Current assets | β | $7.6M | $14.5M | $9.6M | $6.1M | $30.4M | $47.9M | $24.2M | $23.3M | $28.6M |
| Current liabilities | β | $9.6M | $9.0M | $11.2M | $19.3M | $17.7M | $27.2M | $25.5M | $18.8M | $18.7M |
| Inventory | β | $0.5M | $0.6M | $0.5M | $1.4M | $0.8M | $1.1M | $4.1M | $2.1M | $1.3M |
| Property and equipment, net | β | $82.0M | $111M | $105M | $99.3M | $128M | $149M | $204M | $185M | $166M |
| Total assets | β | $97.5M | $128M | $118M | $108M | $161M | $200M | $231M | $220M | $212M |
| Total liabilities | β | $64.6M | $65.4M | $61.2M | $57.0M | $82.4M | $85.6M | $112M | $114M | $110M |
| Preferred stock | β | β | $18.8M | $14.7M | $15.9M | $0.0M | β | β | β | β |
| Shareholders' equity | $31.1M | $32.9M | $43.5M | $41.8M | $34.6M | $78.9M | $114M | $110M | $96.7M | $93.3M |
| Margins | ||||||||||
| Gross margin | β | β | 98.4% | β | β | β | β | β | β | β |
| Operating margin | β | β | 15.4% | 10.4% | β11.6% | 56.8% | 45.8% | β | β | β |
| EBITDA margin | β | β | 36.3% | 32.9% | 16.2% | 67.9% | 60.2% | β | β | β |
| Net margin | β | β | 4.3% | 0.1% | β24.9% | 45.5% | 45.0% | β | β | β |
| FCF margin | β | β | β96.7% | 48.6% | 7.3% | 3.4% | β | β | β | β |
| Returns | ||||||||||
| Return on capital | β | 3.0% | 3.1% | 2.5% | β2.5% | 23.4% | 16.7% | 0.4% | β2.5% | 1.3% |
| Return on capital employed | β | 3.0% | 3.4% | 2.8% | β3.1% | 27.1% | 19.8% | 0.5% | β3.1% | 1.5% |
| Return on equity | β32.6% | 2.7% | 2.9% | 0.0% | β15.4% | 54.9% | 34.8% | β2.9% | β13.1% | β4.0% |
| Return on assets | β | 0.9% | 1.0% | 0.0% | β5.2% | 23.2% | 18.6% | β1.5% | β6.0% | β1.8% |
| Return on tangible equity | β32.6% | 2.6% | 1.3% | β4.6% | β21.5% | 37.3% | 29.4% | β2.7% | β13.0% | β4.6% |
| Growth | ||||||||||
| Revenue growth | β | β | β | 11.0% | β18.0% | 190.3% | 8.9% | β | β | β |
| Net income growth | β | β | 31.8% | β98.5% | β35,723.6% | β | 7.7% | β109.8% | β | β |
| EPS growth | β | β | β34.2% | β440.0% | β | β | 0.6% | β109.0% | β | β |
| FCF growth | β | β | β | β | β87.8% | 35.0% | β | β | β | β |
| Share count change | β | 35.5% | 0.9% | 0.8% | 1.1% | 12.0% | 13.4% | β4.4% | β1.3% | β |
| Financial health | ||||||||||
| Net debt / EBITDA | β | 5.0x | 6.3x | 5.4x | 13.2x | 1.1x | 1.1x | 8.0x | 13.4x | 5.4x |
| Debt / equity | β | 1.2x | 1.5x | 1.4x | 1.5x | 1.0x | 0.7x | 1.0x | 1.1x | 1.1x |
| Interest coverage | β13.0x | 1.6x | 1.6x | 0.9x | β1.3x | 19.1x | 9.4x | 0.2x | β0.8x | 0.5x |
| Current ratio | β | 0.8x | 1.6x | 0.9x | 0.3x | 1.7x | 1.8x | 1.0x | 1.2x | 1.5x |
| Quick ratio | β | 0.7x | 1.5x | 0.8x | 0.2x | 1.7x | 1.7x | 0.8x | 1.1x | 1.5x |
| Capital allocation | ||||||||||
| Capex / revenue | β | β | 112.0% | 3.9% | 2.6% | 53.8% | β | β | β | β |
| Stock comp / revenue | β | β | 0.5% | 0.6% | 1.0% | 0.3% | 1.1% | β | β | β |
| Payouts / FCF | β | β | β | β | 0.0% | 0.0% | β | β | β | β |
| Quality scores | ||||||||||
| Piotroski F-score | β | β | 5.0 | 5.0 | 3.0 | 6.0 | 4.0 | 3.0 | 4.0 | β |
| Altman Z'' | β | 0.3 | 1.0 | 0.5 | β0.9 | 3.4 | 4.0 | 1.6 | 1.3 | 1.7 |
| Accruals ratio | β | β2.1% | β2.5% | β12.3% | β7.3% | β5.9% | 0.3% | β7.0% | β8.1% | β7.7% |
Source: SEC EDGAR XBRL filings (CIK 0001731388). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.