EuroDry Ltd (EDRY) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of EuroDry Ltd $33.61, price $51.34, upside -34.5%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $7.98 – $71.85 · fair‑value band $11.99 – $63.70 · the $51.34 price screens above the $33.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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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.
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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, 2026, it operated through a fleet of 11 drybulk carriers comprising three Panamax drybulk carriers, two Kamsarmax drybulk carriers, five Ultramax drybulk carriers, and one Supramax drybulk carrier with a total cargo carrying capacity of 766,420 deadweight tons. EuroDry Ltd. was incorporated in 2018 and is based in Marousi, Greece.
Stock analysis
EuroDry Ltd (EDRY) currently trades at $51.34, while our model-based Fair Value estimate is $33.61, implying the stock looks roughly 52.7% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of $19.65 per share, and 0 of the 11 models we run sit above the $51.34 price.
Bear case: the Growth DCF group reads lowest at $14.04, and 11 of the 11 models stay below the price. Evidence for this calculation is medium.
Scenario range: $11.99 (bear) to $63.70 (bull), the price of $51.34 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 47/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
EuroDry Ltd reported revenue of $52.3M in FY2025 versus $64.4M in FY2021, a compound −5.1%/yr. Reported net income was −$4.3M in FY2025.
Key figures
Market cap $214M · P/E ratio 15.4 · P/S ratio 3.44 · EPS (TTM) $3.33 · Net margin −8.2% · Return on equity 10.2% · Return on assets (EBIT) 8.0% · Operating margin 49.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 326% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 61% fair-value upside, at −35%, EDRY screens richer than that median.
Fair Value models
Bear $11.99Fair Value $33.61Bull $63.70
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($2.44 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−14.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−9.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.6%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.4%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−12.3% (2020) → −2.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Price in line with expectations
The price assumes more growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+29.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+26.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +26.6% a year for the price and +23.9% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Marine Shipping · 233 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside−35% · Bottom 25%
Profitability
Return on equity (TTM)10% · Above median
Return on assets5% · Above median
Net margin (TTM)15% · Above median
Operating margin (TTM)50% · Top 25%
Growth and dividend
Revenue growth57% · Top 25%
Balance sheet
Debt / equity0.97× · Highest 25%
Valuation Multiplesvs Marine Shipping median · lower = cheaper
P/E (TTM)15.4× · Pricier than median
P/B2.29× · Priciest 25%
P/S (TTM)3.44× · Priciest 25%
P/FCF39.6× · Priciest 25%
EV/EBITDA10.0× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 35
FUTURE (revenue growth)100· sector 23
PAST (return on equity)41· sector 30
HEALTH (low debt)51· sector 89
DIVIDEND (yield)0· sector 54
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "EuroDry Ltd Fair Value". https://www.fairvalue-calculator.com/stock/EDRY
Frequently asked questions
Is EuroDry Ltd (EDRY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $33.61 versus a price of $51.34, about −35% upside (overvalued).
What is the fair value of EDRY?
Our model-based fair value for EuroDry Ltd is $33.61 (as of Sep 24, 2026), built from audited fundamentals. The current price: $51.34.
What is the quality score of EDRY?
EuroDry Ltd has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for EuroDry Ltd (EDRY)?
Our model-based price target is the fair value of $33.61 (as of Sep 24, 2026) from 11 valuation models. Cautious scenario $11.99, optimistic scenario $63.70. It is a calculation from audited fundamentals, not an analyst target.
What is the EuroDry Ltd stock forecast for 2026?
Our models put fair value at $33.61, about −35% upside versus a price of $51.34 (overvalued). Cautious scenario $11.99, optimistic scenario $63.70. The calculation is refreshed regularly with new filings.
What is the revenue of EuroDry Ltd (EDRY)?
EuroDry Ltd reported trailing-twelve-month revenue of about $62.3M (latest available figure, as of Sep 24, 2026).
What growth is priced into EuroDry Ltd (EDRY)?
For today's price to be fair in a discounted-cash-flow model, EuroDry Ltd would have to grow free cash flow by +29.6 % per year for five years (discount rate 11.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +18.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of EDRY use?
Our models discount EuroDry Ltd at 11.9 %: a base by market capitalisation (micro), damped by beta 0.75, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For EuroDry Ltd that is +29.6 % per year a year over ten years, using the same discount rate (11.9 %) and the same formula as our fair value.
How much growth has EuroDry Ltd (EDRY) delivered so far?
Over the past 5 years revenue at EuroDry Ltd grew +18.6 % a year. The price currently implies +29.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of EuroDry Ltd (EDRY) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into EuroDry Ltd (+29.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of EuroDry Ltd (EDRY)?
The free-cash-flow yield on the price is 3.70 %: that much free cash flow EuroDry Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of EuroDry Ltd (EDRY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EuroDry Ltd it is $33.61 per share (as of Sep 24, 2026), against a price of $51.34. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is EuroDry Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, EDRY trades above its calculated fair value: price $51.34, fair value $33.61, a gap of about −35% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of EDRY?
No. The price is what the market pays today ($51.34); the fair value is what the company's own numbers justify ($33.61). For EuroDry Ltd the two are $17.73 per share apart. That gap is exactly why we show both numbers side by side.
How much is EuroDry Ltd worth?
The market values EuroDry Ltd at about $214M (market capitalisation, as of Sep 24, 2026). Per share that is $51.34; our models calculate a fair value of $33.61 per share.
What do the bullish and bearish scenarios say about EDRY?
Our models span a range for EuroDry Ltd: cautious scenario $11.99, base $33.61, optimistic $63.70 per share (as of Sep 24, 2026, price $51.34). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EDRY?
EuroDry Ltd trades at a price-to-earnings ratio of 15.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $33.61 is built from several models across several years. Other multiples: P/B 2.3, P/S 3.4, EV/EBITDA 10.0.
How solid is the balance sheet of EuroDry Ltd (EDRY)?
Balance-sheet figures for EuroDry Ltd (as of Sep 24, 2026): return on equity 10.2%, debt of 0.97 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is EDRY from its 52-week high?
EuroDry Ltd trades at $51.34, about 29% below its 52-week high of $71.85 and 326% above the low of $12.06 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $33.61 is for.
Which stocks are comparable to EuroDry Ltd?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is EuroDry Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price $51.34, calculated fair value $33.61 (−35%), Quality Score 47/100, from 11 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of EDRY calculated?
We run EuroDry Ltd through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $33.61, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. EuroDry Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of EuroDry Ltd (EDRY)?
The closing price on Sep 23, 2026 was $51.34. Our model-based fair value is $33.61, about −35% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EuroDry Ltd right now?
The model range is unusually wide ($11.99 to $63.70). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of EuroDry Ltd
How large is the market capitalisation of EuroDry Ltd (EDRY)?
The market capitalisation of EuroDry Ltd is $214M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of EuroDry Ltd (EDRY)?
The price-to-sales ratio of EuroDry Ltd is 3.44 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of EuroDry Ltd (EDRY)?
Earnings per share at EuroDry Ltd are $3.33 (price ÷ EPS = P/E 15.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of EuroDry Ltd (EDRY)?
The net margin of EuroDry Ltd is −8.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of EuroDry Ltd (EDRY)?
The return on equity (ROE) of EuroDry Ltd is 10.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of EuroDry Ltd (EDRY)?
On an EBIT basis the return on assets of EuroDry Ltd is 8.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of EuroDry Ltd (EDRY)?
The operating margin of EuroDry Ltd is 49.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EuroDry Ltd (EDRY)?
Revenue at EuroDry Ltd is growing +57.0% versus a year earlier (3y avg −9.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at EuroDry Ltd (EDRY)?
Earnings per share at EuroDry Ltd are growing −94.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does EuroDry Ltd (EDRY) carry?
The net debt of EuroDry Ltd is $80.4M (fiscal year 2025, ≈ 14.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Sep 24, 2026