EuroDry

EDRY

Marine Shipping · Industrials

Price

$46.85

+3.42 (+7.87%)

Market Cap

$135.4M

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Mixed

Cash Flow

Exceptional

Stability

Good

Valuation

Strong

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Share count rising — dilution

+8.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 2.5M (2021) → 2.8M (2025)

Winston Score History

The full picture

EuroDry Ltd. is a shipping company based in Greece that transports dry bulk cargo — things like grain, coal, iron ore, and fertilizers — across the world's oceans. Its customers are commodity traders, mining companies, and agricultural businesses that need to move large quantities of raw materials by sea. The company owns and operates a small fleet of dry bulk vessels, making it part of the highly cyclical global shipping industry.

EuroDry earns money by charging customers to rent its ships, either on short-term spot contracts or longer-term time charters, where a customer pays a fixed daily rate. The company operates globally, with routes spanning major trade lanes between Europe, Asia, and the Americas, and has a market cap of roughly $100 million, making it a small player in a fragmented industry. Its main risk is that shipping rates are volatile and largely outside its control, meaning earnings can swing sharply depending on global trade demand and fleet supply.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+57.0% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+310.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

54.4%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Position

Cash flow positive

$31M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

EuroDry grew revenue 57% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

60.3%

Premium pricing power — 60.3% gross margin

Profit after running costs

Operating Margin

49.8%

Excellent — 49.8% operating margin

Return on the money invested

ROCE

7.7%

Weak — 7.7% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+25.3%

Fast-growing sales (+25.3% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

267%

Turns 267% of profit into real cash

Spare cash per sale

FCF Margin

27.8%

Converts sales into free cash efficiently (27.8%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.97

Moderate — manageable debt (0.97)

Covers its interest

Interest Cover

2.39x

Tight — interest eats into profit (2.4x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

14.0x

Attractive valuation — P/E 14.0

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+5.9

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (14.0 → 8.0)

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Dividends

Not applicable for this business.

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