Costamare (CMRE) AI Stock Analysis

• Market Cap: $1.11B
• Dividend Yield: 4.95%
• Average Volume (3M): 486.23K
• Price to Earnings (P/E): 3.8
• Beta (1Y): 0.89
• Revenue Growth: 17.77%
• EPS Growth: -5.90%
• Country: US
• Employees: 2,430
• Sector: Industrials
• Sector Strength: 86
• Industry: Marine Shipping
• EPS (TTM): 0.61
• Shares Outstanding: 119,961,490
• 10 Day Avg. Volume: 551,666
• 30 Day Avg. Volume: 486,230
• PEG Ratio: 0.07
• Price to Book (P/B): 0.53
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 2.20
• Enterprise Value/Market Cap: 2.70
• Enterprise Value/Revenue: 0.37
• Enterprise Value/Gross Profit: 5.44
• Enterprise Value/Ebitda: 1.31
• 1Y Price Target: $9.80
• Price Target Upside: 5.49% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2

• Rating: 75 Outperform
• Price Target: $10.50 ▲(13.02%Upside)

Costamare's stock is appealing due to its strong financial performance and attractive valuation. The bullish technical trend supports the positive outlook, although caution is advised due to potential overbought conditions. The stock's low valuation and high dividend yield further enhance its attractiveness.

Costamare Business Overview & Revenue Model

Company Description

Costamare Inc. owns and charters containerships to liner companies worldwide. As of March 18, 2022, it had a fleet of 76 containerships with a total capacity of approximately 557,400 twenty-foot equivalent units and 45 dry bulk vessels with a total capacity of approximately 2,435,500 DWT. The company was founded in 1974 and is based in Monaco.

How the Company Makes Money

Costamare generates revenue primarily through long-term fixed-rate charters of its containerships to major liner companies. These charters provide predictable and stable cash flows, as they are typically structured to cover operating expenses and provide a return on investment over the contract duration. Additionally, Costamare participates in the spot market, where they charter vessels on short-term contracts, allowing for higher earnings potential during periods of strong demand. The company also benefits from strategic partnerships and joint ventures, which can enhance fleet utilization and expand their market presence. Overall, Costamare’s revenue model is built on optimizing fleet deployment and maintaining high vessel utilization rates to maximize earnings.

Costamare Financial Statement Overview

Summary

Costamare demonstrates solid financial performance with strong profitability and cash generation capabilities. Despite decelerating revenue growth, leverage is manageable, and cash flow generation remains a positive indicator for future operations. However, the decreasing trend in equity is a concern.

Income Statement

Costamare's income statement shows a stable revenue base with moderate growth. The company achieved a Gross Profit Margin of 27% and a Net Profit Margin of 15.5% in TTM, indicating strong profitability. However, revenue growth has slowed recently, and the EBIT and EBITDA margins have slightly decreased compared to previous years.

Balance Sheet

The balance sheet reflects a solid equity position with a Debt-to-Equity Ratio of 0.88 in TTM, indicating manageable leverage. The Equity Ratio of 50.5% suggests a strong capital structure. However, the decreasing trend in stockholders' equity over time may pose a risk to future financial stability.

Cash Flow

Costamare's cash flow statement is robust, with a strong Operating Cash Flow to Net Income Ratio of 1.71 in TTM. Free Cash Flow has grown significantly, showcasing efficient capital management. The Free Cash Flow to Net Income Ratio of 0.96 reflects the company's ability to generate cash efficiently relative to its earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.05B	2.08B	1.51B	1.11B	793.64M	460.32M
Gross Profit	553.00M	556.66M	436.42M	600.66M	441.87M	211.62M
EBITDA	537.30M	619.87M	730.09M	853.31M	649.28M	177.82M
Net Income	318.19M	319.92M	385.75M	554.96M	435.12M	-71.75M
Balance Sheet
Total Assets	5.13B	5.15B	5.29B	4.90B	4.41B	3.01B
Cash, Cash Equivalents and Short-Term Investments	818.80M	741.28M	790.40M	838.06M	276.00M	143.92M
Total Debt	2.28B	2.35B	2.65B	2.58B	2.56B	1.59B
Total Liabilities	2.48B	2.58B	2.85B	2.74B	2.68B	1.66B
Stockholders Equity	2.59B	2.51B	2.38B	2.16B	1.73B	1.35B
Cash Flow
Free Cash Flow	306.66M	257.23M	49.04M	519.70M	-525.60M	172.37M
Operating Cash Flow	542.80M	537.72M	331.37M	581.59M	466.49M	274.28M
Investing Cash Flow	-112.57M	-79.51M	79.09M	42.49M	-787.46M	-36.40M
Financing Cash Flow	-517.55M	-505.48M	-396.81M	-166.05M	482.59M	-241.86M

Costamare Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 9.29
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CMRE, the sentiment is Positive. The current price of 9.29 is above the 20-day moving average (MA) of 9.15, above the 50-day MA of 8.40, and above the 200-day MA of 8.79, indicating a bullish trend. The MACD of 0.21 indicates Positive momentum. The RSI at 59.64 is Neutral, neither overbought nor oversold. The STOCH value of 45.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CMRE.

Costamare Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GSL	83 Outperform	$951.73M	2.52	27.25%	7.86%	3.94%	19.85%
NMM	75 Outperform	$1.13B	3.52	11.19%	0.52%	0.28%	-17.08%
CMRE	75 Outperform	$1.11B	3.81	12.57%	4.95%	17.77%	-5.90%
SBLK	74 Outperform	$2.11B	9.12	11.09%	1.11%	25.60%	-9.32%
DAC	71 Outperform	$1.61B	3.60	14.14%	3.87%	4.93%	-17.08%
SFL	69 Neutral	$1.29B	21.47	5.09%	12.13%	6.68%	-57.55%
Sector *	65 Neutral	$10.81B	15.65	5.50%	1.89%	3.10%	-27.09%