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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $131K buybacks = $131K returned on -$27.9M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 3 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: -0%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 3 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-29
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Revenue | $9.9M 100.0% | $6.8M 100.0% | $15.6M 100.0% |
| Selling, General & Admin | $1.8M 18.3% | $1.5M 22.5% | $808K 5.2% |
| Total Operating Expenses | $9.2M 92.7% | $5.7M 84.2% | $123K 0.8% |
| Operating Income | $721K 7.3% | $1.1M 15.8% | $15.5M 99.2% |
| Interest Expense | $33K 0.3% | $13K 0.2% | $16K 0.1% |
| Interest & Investment Income | $427K 4.3% | $0 0.0% | $10K 0.1% |
| Other Income (Expense), net | -$766K -7.7% | -$15K -0.2% | -$16K -0.1% |
| Pretax Income | -$45K -0.5% | $1.1M 15.5% | $15.5M 99.1% |
| Income Tax Expense | $0 0.0% | $0 0.0% | $47K 0.3% |
| Net Income | -$45K -0.5% | $1.1M 15.5% | $15.4M 98.8% |
| Per Share | |||
| EPS (Basic) | -$0.30 | $2.20 | $32.30 |
| EPS (Diluted) | -$0.30 | $0.20 | $3.10 |
| Weighted Avg Shares (Basic) | 1.5M | 477K | 477K |
| Weighted Avg Shares (Diluted) | 1.5M | 5.0M | 5.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-10-29
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE -0% against ROIC -0% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| SG&A | 5.2 | 22.5 | 18.3 |
| Operating Income | 99.2 | 15.8 | 7.3 |
| Income Tax | 0.3 | 0.0 | 0.0 |
| Net Income | 98.8 | 15.5 | -0.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on RBNE: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 1 positive fiscal year (FY2024). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
A reverse DCF cannot be solved for RBNE: its net cash ($5.6M) exceeds its market value, so enterprise value is negative. Discounting a positive cash-flow stream always gives a positive number, so no growth rate reaches that target. This is common for banks, brokers and payment companies, where customer balances sit in the cash line and are not the company's to spend.
Default is 10.0% — this company's computed cost of capital, the same rate the Analysis tab discounts at.
2-stage DCF · 0.00B shares (market data) · net debt -$5.6M
Today's price is outside this grid at every discount rate shown — the assumptions it requires lie beyond the plotted range, which is itself the finding.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
Ranked against 20 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SBLK | $3.4B | 39.6× | 9.4× | 3.2× | -17.6% | — | 8.1% | 3.4% | 3.4% | -1.6× | 37 |
| DAC | $2.9B | 5.9× | 4.5× | 2.7× | 2.8% | — | 47.4% | 13.0% | 10.0% | 0.2× | 25 |
| LPG | $2.3B | 12.0× | 9.1× | 4.8× | 36.3% | — | 40.2% | 17.0% | 11.4% | 0.8× | 58 |
| SFL | $1.8B | — | 11.4× | 2.5× | -18.9% | — | -3.6% | -2.8% | -0.7% | 6.5× | 45 |
| CMRE | $1.7B | — | 4.6× | 1.9× | -1.2% | — | 41.5% | 17.5% | 10.1% | 1.7× | — |
| TEN | $1.6B | 12.3× | 7.8× | 2.1× | -0.7% | — | 20.1% | 8.8% | 4.5% | 3.7× | — |
| GSL | $1.5B | — | 3.5× | 2.0× | 7.8% | — | 54.3% | 23.1% | 16.7% | 0.8× | — |
| NVGS | $1.3B | 14.6× | — | 2.2× | 3.6% | — | 17.1% | 8.2% | 7.2% | — | 26 |
| TK | $1.3B | 13.2× | 0.9× | 1.4× | -22.2% | 66.6% | 10.3% | 4.5% | 4.5% | -2.4× | 26 |
| GNK | $1.1B | — | 15.2× | 3.3× | -19.1% | — | -1.3% | -0.5% | -0.4% | 1.6× | 36 |
| ASC | $857M | 23.8× | — | 2.8× | -23.6% | — | 13.2% | 6.5% | 5.4% | — | 34 |
| HSHP | $766M | 42.7× | 14.6× | 5.8× | 6.7% | 78.8% | 13.4% | 10.9% | 2.1% | 6.7× | 19 |
| PANL | $521M | 26.5× | 6.2× | 0.8× | 17.8% | — | 3.1% | 4.5% | 3.7% | -0.1× | 24 |
| ESEA | $475M | 3.4× | 2.9× | 2.1× | 7.0% | — | 60.1% | 29.6% | 20.1% | 0.2× | 11 |
| SHIP | $349M | 15.9× | — | 2.2× | -5.6% | — | 13.4% | 7.5% | 3.7% | — | — |
| DSX | $311M | 22.7× | 8.8× | 1.5× | -6.4% | — | 8.3% | 3.5% | 1.7% | 5.3× | — |
| GASS | $311M | 5.0× | 2.6× | 1.8× | 3.5% | — | 35.0% | 8.8% | 8.8% | -1.2× | 3 |
| SMHI | $267M | — | 8.8× | 1.2× | -16.0% | 20.2% | -12.2% | -10.5% | -4.6% | 4.4× | 16 |
| IMPP | $230M | 4.0× | 3.4× | 1.4× | 9.2% | — | 31.0% | 9.4% | 9.4% | -0.1× | — |
| TORO | $153M | 55.3× | — | 7.3× | -5.9% | — | 28.1% | 3.6% | 3.6% | — | — |
| RBNE | $214500 | — | — | 0.0× | 46.3% | — | -0.5% | -0.1% | -0.1% | -2.0× | — |
Peers = companies sharing RBNE's sector (Deep Sea Foreign Transportation of Freight) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Earns -6.54pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2023 | 57.5% | 9.4% | 48.2pts |
| FY2024 | 5.0% | 10.1% | -5.0pts |
| FY2025 | 2.9% | 9.2% | -6.3pts |
| Now | -0.1% | 9.9% | -10.1pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2023 | not reported | 99.2% | 98.8% |
| FY2024 | not reported | 15.8% | 15.5% |
| FY2025 | not reported | 7.3% | -0.5% |
Return on equity (-0%) and return on invested capital (-0%) are within a couple of points in FY2025, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
Margins have compressed 2 years running even as the spread stayed positive.
Fewer than three profitable years with a cash flow statement, so cash conversion cannot be judged.
No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.
Missing from our data, so excluded from this answer: 3 years of cash flow.
No debt, so there is no leverage path to distress.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Cash burn, not leverage, is the risk for a debt-free company — see question 2 for cash conversion.
No growth rate within the range this model can express reaches the current price, so the requirement cannot be stated as a number.
No material counter-signal in the checked set: reverse-DCF implied growth, historical FCF CAGR, per-year FCF growth distribution, reporting-basis breaks, discount rate used, free-cash-flow basis (stock comp charged?).
Missing from our data, so excluded from this answer: implied_growth.