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 April 30, 2025, it operated through a fleet of 12 drybulk carriers comprising four Panamax, two Kamsarmax, five Ultramax, and one Supramax …
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Competitive advantage assessment
Key risks
Commodity Pressure / Weak DifferentiationGross margin at 15.6th percentile with high volatility suggests weak pricing power or commoditized products.
ROIC Below WACC or PeersROIC at 25.8th percentile suggests inefficient capital deployment.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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EuroDry Ltd. ranks #30 of 34
scored companies in Marine Shipping by moat score — the top 88%.
The widest moat in the group is Euroseas Ltd. (ESEA)
at 86/100.
Moat scores for companies ranked near EDRY in Marine Shipping
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 43
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 31
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 13
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 27
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 15
· 15% of the moat score
Scale matters only when it converts into economics.
EuroDry Ltd. (EDRY) scores 24 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as weak. It ranks #30 of 34 scored companies in Marine Shipping, the top 88%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 33 companies in Marine Shipping. Its strongest defense is Cost Advantage (43/100) and its weakest is Capital Efficiency (13/100).
How does EuroDry Ltd. compare with other Marine Shipping companies?
EuroDry Ltd. ranks #30 of 34 scored companies in Marine Shipping by moat score. The widest moat in Marine Shipping is Euroseas Ltd. (ESEA) at 86/100. The companies ranked closest are Toro Corp. (TORO) at 24 just above it and Icon Energy Corp. (ICON) at 21 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 33 companies in Marine Shipping. The defenses are then weighted to produce the overall score out of 100.
Why is EuroDry Ltd. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for EuroDry Ltd.?
The Corporate Default template measures 6 defenses, and EDRY scores: Pricing Power (17), Cost Advantage (43), Customer Stickiness (31), Capital Efficiency (13), Resilience (27), Scale & Market Position (15). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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