EuroDry Ltd.
EDRY · Water Transportation · EDGAR filings ↗
Grade
D50Small leveraged Greek drybulk owner whose earnings barely cover interest.
Strengths
- Adequate liquidity (current ratio 1.53, 70th pct)
- Externally managed fleet limits overhead
Risks
- Interest coverage 0.45 (33rd pct) — operating earnings do not cover interest; ROIC just 1.3% (20th pct)
- Cyclical charter rates, leverage (D/E 0.97) and heavy related-party/affiliate dependence
Notable findings
- No interest coverageInterest coverage 0.45 (cannot cover interest)
- RestatementAs a result of this share ownership and for as long as Friends Dry, Family United and Ergina Shipping own a significant percentage of our outstanding common stock, Friends Dry, Family United and Ergin 8-K ↗
Key metrics
Return on equity
-4.1%
Return on assets
-1.8%
ROIC
1.3%
Debt / equity
1.0×
Interest coverage
0.5×
Current ratio
1.5×
Tangible book value
$93M
Cash & investments
$20M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-28 | 2025-12-31 | 0001171843-26-002768 ↗ |
| 20-F | 2025-05-15 | 2024-12-31 | 0001171843-25-003244 ↗ |
| 20-F | 2024-04-24 | 2023-12-31 | 0001171843-24-002177 ↗ |
| 20-F | 2023-04-24 | 2022-12-31 | 0001171843-23-002475 ↗ |
| 20-F | 2022-04-15 | 2021-12-31 | 0001171843-22-002600 ↗ |
| 20-F | 2021-04-22 | 2020-12-31 | 0000919574-21-003064 ↗ |
| 20-F | 2020-04-17 | 2019-12-31 | 0000919574-20-002943 ↗ |
| 20-F | 2019-04-30 | 2018-12-31 | 0000919574-19-003068 ↗ |