Costamare (CMRE) AI Stock Analysis

Compare

453 Followers

Top Page

Costamare

(NYSE:CMRE)

Select Model

Outperform 76 (OpenAI - 5.2)

Rating:76Outperform

Price Target:

$19.00

▲(10.92% Upside)

Action:ReiteratedDate:11/13/25

Costamare's strong financial performance and attractive valuation are the primary drivers of its stock score. The company's robust earnings call further supports its positive outlook. However, technical indicators suggest caution due to overbought conditions, and concerns about freight market volatility could impact future performance.

Positive Factors

Contracted revenues & fleet deployment

Multi-year contracted revenues of $2.6B and near-full fleet deployment provide predictable cash flows and revenue visibility. This durable contract backlog supports financing for newbuilds, dividend policy and lowers short-term earnings volatility from spot market swings over the next several quarters.

Robust cash generation

Strong operating cash conversion and growing free cash flow indicate efficient cash generation from operations. This enhances the company's ability to fund capital expenditures, service debt and maintain distributions without relying on equity raises, supporting resilience across shipping cycles.

Manageable leverage and strong equity ratio

A sub-1.0 debt/equity ratio and a roughly 50% equity ratio signal conservative capitalization for a shipping owner-operator. This structural balance-sheet strength reduces refinancing and covenant risk, preserving flexibility to finance newbuilds and navigate cyclical downturns over the medium term.

Negative Factors

Significant revenue decline

A near-30% reported revenue decline highlights material sensitivity to contract timing, market rates or disposals. If this trend persists it could compress margins, reduce free cash flow available for growth or dividends, and force reliance on debt or asset sales to fund operations.

Declining stockholders' equity trend

A downward trend in equity erodes the capital cushion against shipping cyclicality, increasing leverage risk relative to assets. That deterioration can tighten covenant headroom, limit funding options and raise refinancing costs, weakening long-term financial flexibility.

Freight market volatility & sustainability risk

Large swings and doubts about sustainability of recent rate gains mean charter renewals and future contract pricing are unpredictable. Structural earnings and cashflow durability depend on persistent rates; if elevated rates prove temporary, earnings and contracted renewal economics could deteriorate.

Costamare (CMRE) vs. SPDR S&P 500 ETF (SPY)

Market Cap

$2.11B

Dividend Yield2.94%

Average Volume (3M)478.10K

Price to Earnings (P/E)6.1

Beta (1Y)0.88

Revenue Growth-29.82%

EPS Growth-16.77%

CountryUS

Employees2,430

SectorIndustrials

Sector Strength72

IndustryMarine Shipping

Share Statistics

EPS (TTM)0.60

Shares Outstanding120,269,325

10 Day Avg. Volume494,927

30 Day Avg. Volume478,102

Financial Highlights & Ratios

PEG Ratio-0.21

Price to Book (P/B)0.45

Price to Sales (P/S)0.55

P/FCF Ratio4.42

Enterprise Value/Market Cap1.47

Enterprise Value/Revenue2.16

Enterprise Value/Gross Profit5.44

Enterprise Value/Ebitda5.75

Forecast

1Y Price TargetN/A

Price Target UpsideN/A

Rating ConsensusN/A

Number of Analyst Covering0

EPS Forecast (FY)2.72

Revenue Forecast (FY)$800.00M

Costamare Business Overview & Revenue Model

Company DescriptionCostamare 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 MoneyCostamare generates revenue primarily through long-term charter agreements with major shipping companies. The company earns income by leasing its fleet of containerships, which provides a steady cash flow as these contracts typically span multiple years. Key revenue streams include fixed charter rates, which offer predictable earnings, and, in some cases, profit-sharing arrangements with charterers based on market conditions. Significant partnerships with prominent shipping lines enhance Costamare's market position and contribute to its earnings stability. Additionally, the company may benefit from favorable market conditions that lead to increased demand for container shipping, impacting charter rates positively.

Costamare Key Performance Indicators (KPIs)

Any

Average Number of Vessels

Average Number of Vessels
Tracks the average size of Costamare’s fleet over the period, showing scale and revenue potential. A rising average fleet points to greater future income but also higher financing, depreciation, and operating costs; a falling average suggests disposals, idling, or contract expirations that could pressure earnings.

Chart InsightsCostamare rapidly expanded its fleet in 2022–23, then plateaued before an abrupt mid‑2025 reduction in average vessels. That sudden shrinkage likely reflects disposals or redeliveries rather than immediate market collapse—meaning near‑term revenue and cash flow will hinge on remaining charter coverage and spot rates, while proceeds could materially lower leverage. Investors should monitor charter backlog, average remaining charter length, and how disposal proceeds are deployed to judge whether this will be a one‑off liquidity move or a lasting earnings shift.

Data provided by:

The Fly

Costamare Earnings Call Summary

Earnings Call Date:Feb 18, 2026

(Q4-2025)

% Change Since: |

Next Earnings Date:May 08, 2026

Earnings Call Sentiment Positive

The call conveyed a predominantly positive operational and financial picture: strong quarterly and annual profitability, robust liquidity, significant forward chartering adding ~$940 million of incremental contracted revenues, high fleet deployment (96% for 2026) and very low idle tonnage (0.5%), supported by financing actions and an expanding leasing platform. Downsides were limited to an accounting-driven increase in deferred revenues (requiring cash-revenue adjustments), a decision not to accelerate debt prepayments despite strong free cash flow, and limited quantified forward guidance on margins. Overall, the positives materially outweigh the negatives.

Q4-2025 Updates

Positive Updates

Strong Quarterly and Annual Profitability

Net income for Q4 2025 of about $73 million (adjusted net income for the quarter ~$72 million or $0.60 per share). Net income for the full year ~ $370 million (adjusted net income for 2025 ~$376 million or $3.12 per share).

Robust Liquidity Position

Cash liquidity of $590 million at year-end, providing financial flexibility for operations, financing and investments.

Substantial Forward Bookings and Contracted Revenues

Forward chartered 12 vessels (4,000 to 14,000 TEU) commencing over the next 3 years; incremental contracted revenues of approximately $940 million. Total contracted revenues reached $3.4 billion with a TEU-weighted remaining time charter duration of 4.5 years.

High Fleet Deployment and Extremely Low Idleness

Fleet deployment fixed at 96% for 2026 and 92% for 2027. Idle fleet below 1% (reported 0.5%), indicating a tight market and strong demand for tonnage.

Long-Duration Charters Securing Cash Flows

New charters have a TEU-weighted average duration of 6 years, strengthening long-term contracted cash flows and visibility.

Financing Arrangements and Lower Funding Cost

Pre- and post-delivery financing agreed for all 6 newbuild vessels and refinancing of 2 container ships at substantially lower funding cost. Company reports no significant debt maturities until 2027.

Leasing Platform Expansion (Neptune Maritime Leasing)

Increased investment commitment to about $250 million (nearly $180 million invested to date). NML has funded or committed to fund 54 assets with total investments/commitments exceeding $665 million.

Continued Dividend Track Record

Management emphasized a long, uninterrupted dividend track record, signaling shareholder returns continuity.

Negative Updates

Accounting-Driven Increase in Deferred Revenues

Management noted a substantial quarter-over-quarter increase in deferred revenues driven by accounting treatment related to changes in long-term charter hire. The increase is not quantified on the call and requires adjustments to model cash revenues; potential modeling complexity for investors.

Limited Use of Excess Free Cash Flow for Immediate Deleveraging

Despite solid free cash flow and low leverage, management indicated they do not plan material prepayments of debt beyond scheduled amortization and will not prioritize additional early deleveraging at present. This may concern investors preferring accelerated balance sheet paydown.

Lack of Quantified Forward Guidance or Margin Details

The call provided extensive contract and liquidity metrics but lacked explicit forward revenue/guidance drivers, margin trends, or quantified impacts from charter fixtures on operating margins, leaving some visibility gaps for modeling future profitability.

Company Guidance

Management guided that Costamare has strong forward visibility and liquidity, reporting Q4 net income of about $73M and FY net income of about $370M (adjusted FY ’25 net income ~$376M or $3.12/sh and adjusted Q4 ~$72M or $0.60/sh) with liquidity of $590M; the company has forward-fixed 12 vessels (4,000–14,000 TEU) over the next 3 years with a TEU-weighted average charter duration of 6 years, adding ~ $940M of incremental contracted revenues, taking revenue days fixed to 96% for 2026 and 92% for 2027 and lifting total contracted revenues to $3.4B with a TEU-weighted remaining duration of 4.5 years; the market remains tight with an idle fleet of ~0.5% (<1%); on financing, pre- and post-delivery financing is in place for 6 newbuilds, 2 ships were refinanced at substantially lower cost, there are no significant maturities until 2027, and management — citing relatively low leverage and strong contracted cash flows — does not currently plan material debt prepayments; on leasing, Neptune Maritime Leasing has funded/committed 54 assets >$665M and Costamare’s leasing commitment is ~$250M (≈$180M invested to date).

Costamare Financial Statement Overview

Summary

Costamare demonstrates solid financial performance with strong profitability and cash generation capabilities. The company has a stable revenue base, although growth has slowed. The balance sheet shows manageable leverage, but a downward trend in equity is a concern.

Income Statement

Positive

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

Positive

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

Positive

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	1.43B	2.08B	1.51B	1.11B	793.64M	460.32M
Gross Profit	569.25M	556.66M	436.42M	600.66M	441.87M	211.62M
EBITDA	538.19M	619.87M	699.28M	828.09M	643.45M	181.02M
Net Income	321.70M	319.92M	385.75M	554.96M	435.12M	8.88M
Balance Sheet
Total Assets	3.86B	5.15B	5.29B	4.90B	4.41B	3.01B
Cash, Cash Equivalents and Short-Term Investments	525.26M	766.44M	813.02M	838.06M	276.00M	148.92M
Total Debt	1.58B	2.35B	2.65B	2.58B	2.56B	1.59B
Total Liabilities	1.76B	2.58B	2.85B	2.74B	2.68B	1.66B
Stockholders Equity	2.03B	2.51B	2.38B	2.16B	1.73B	1.35B
Cash Flow
Free Cash Flow	192.33M	257.23M	49.04M	500.88M	-525.60M	172.37M
Operating Cash Flow	264.85M	537.72M	331.37M	562.77M	466.49M	274.28M
Investing Cash Flow	-115.27M	-79.51M	79.09M	46.22M	-787.46M	-36.40M
Financing Cash Flow	-184.50M	-505.48M	-396.81M	-149.67M	482.59M	-241.86M

Costamare Technical Analysis

Technical Analysis Sentiment

Positive

Last Price17.13

Price Trends

50DMA

16.29

Positive

100DMA

14.93

Positive

200DMA

12.52

Positive

Market Momentum

MACD

0.38

Negative

RSI

59.71

Neutral

STOCH

86.32

Negative

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 17.13 is above the 20-day moving average (MA) of 16.82, above the 50-day MA of 16.29, and above the 200-day MA of 12.52, indicating a bullish trend. The MACD of 0.38 indicates Negative momentum. The RSI at 59.71 is Neutral, neither overbought nor oversold. The STOCH value of 86.32 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CMRE.

Costamare Risk Analysis

Costamare disclosed 72 risk factors in its most recent earnings report. Costamare reported the most risks in the "Finance & Corporate" category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added 0 New Risks

Costamare Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DAC	81 Outperform	$2.11B	4.30	13.70%	3.64%	3.82%	-13.73%
GSL	81 Outperform	$1.44B	3.61	26.18%	6.16%	7.13%	23.37%
CMRE	76 Outperform	$2.11B	6.13	16.57%	2.94%	-29.82%	-16.77%
NMM	76 Outperform	$2.05B	7.41	8.81%	0.39%	-1.33%	-33.66%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SBLK	62 Neutral	$2.99B	35.96	3.41%	1.59%	-13.87%	-82.48%
SFL	59 Neutral	$1.46B	-54.18	-2.53%	12.24%	-11.10%	-101.57%

* Industrials Sector Average

Performance Comparison

CMRE

Costamare

17.54

10.44

147.01%

DAC

Danaos

115.19

39.65

52.49%

GSL

Global Ship Lease

40.15

18.72

87.40%

NMM

Navios Maritime Partners

71.09

31.34

78.86%

SFL

SFL Corporation

11.01

3.26

42.10%

SBLK

Star Bulk Carriers

26.25

11.05

72.70%

Costamare Corporate Events

Costamare Declares Quarterly Dividends on Preferred and Common Shares

Jan 2, 2026

On January 2, 2026, Costamare Inc. announced that it had declared quarterly cash dividends on all three of its listed preferred share series for the period from October 15, 2025 to January 14, 2026, with payments scheduled for January 15, 2026 to holders of record as of January 14, 2026. The company also declared a quarterly dividend of $0.115 per share on its common stock for the quarter ended December 31, 2025, payable on February 5, 2026 to shareholders of record on January 20, 2026, underscoring continued capital returns to investors while emphasizing that future dividends remain at the board’s discretion and will be influenced by earnings, financial condition, funding access, debt covenants and broader economic conditions.

The most recent analyst rating on (CMRE) stock is a Buy with a $16.50 price target. To see the full list of analyst forecasts on Costamare stock, see the CMRE Stock Forecast page.

Costamare Inc. Releases Q3 2025 Financial Results

Nov 25, 2025

Costamare Inc. released its unaudited interim condensed consolidated financial statements for the nine-month period ending September 30, 2025. The report highlights a decrease in total assets and liabilities compared to the previous year, reflecting changes in the company’s financial position. This financial update may impact Costamare’s operational strategies and its standing in the shipping industry, potentially influencing stakeholder decisions.

The most recent analyst rating on (CMRE) stock is a Buy with a $16.50 price target. To see the full list of analyst forecasts on Costamare stock, see the CMRE Stock Forecast page.

Costamare Inc. Announces Q3 2025 Financial Results and Strategic Developments

Nov 4, 2025

Costamare Inc. reported its financial results for the third quarter and nine-month period ending September 30, 2025, highlighting a significant spin-off of its dry bulk business into a standalone company, which was completed on May 6, 2025. The company achieved a Q3 2025 net income of $92.6 million and maintained strong liquidity. Costamare also concluded newbuilding contracts for additional containerships, with deliveries expected in Q1 2028, and secured long-term charters for these vessels. The company has successfully fixed 100% of its containership fleet for 2025 and 80% for 2026, with contracted revenues reaching approximately $2.6 billion. Additionally, Costamare completed refinancing for several vessels and expanded its ship leasing platform, Neptune Maritime Leasing, with investments exceeding $650 million.

The most recent analyst rating on (CMRE) stock is a Buy with a $12.50 price target. To see the full list of analyst forecasts on Costamare stock, see the CMRE Stock Forecast page.

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 13, 2025