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Castor Maritime
(NASDAQ:CTRM)
Castor Maritime (CTRM) vs. SPDR S&P 500 ETF (SPY)
Castor Maritime Business Overview & Revenue Model
Castor Maritime Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 67.86M | 66.24M | 97.52M | 150.22M | 132.05M | 12.49M |
| Gross Profit | 16.15M | 19.65M | 28.47M | 86.70M | 65.53M | 2.55M |
| EBITDA | -8.62M | 37.37M | 55.71M | 92.28M | 69.99M | 2.36M |
| Net Income | -44.38M | 14.62M | 38.64M | 118.56M | 52.27M | -1.75M |
Balance Sheet | ||||||
| Total Assets | 702.81M | 797.38M | 605.04M | 632.92M | 462.91M | 74.37M |
| Cash, Cash Equivalents and Short-Term Investments | 98.71M | 157.02M | 188.47M | 100.59M | 37.17M | 8.93M |
| Total Debt | 84.43M | 111.32M | 83.39M | 138.77M | 102.04M | 18.19M |
| Total Liabilities | 149.50M | 171.91M | 94.31M | 171.43M | 119.98M | 21.99M |
| Stockholders Equity | 495.95M | 570.13M | 510.73M | 461.50M | 342.93M | 52.38M |
Cash Flow | ||||||
| Free Cash Flow | -58.43M | -30.26M | 41.97M | 47.35M | -287.87M | -37.82M |
| Operating Cash Flow | 14.09M | 41.91M | 42.59M | 123.75M | 60.78M | -2.34M |
| Investing Cash Flow | -208.11M | -133.48M | -9.12M | -63.74M | -348.64M | -35.47M |
| Financing Cash Flow | 720.92K | 59.56M | -64.88M | 48.90M | 321.82M | 42.18M |
Castor Maritime Technical Analysis
Castor Maritime Risk Analysis
Castor Maritime Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $25.24M | 1.02 | 17.90% | ― | -11.07% | -13.39% | |
65 Neutral | $27.76M | 2.60 | 7.94% | ― | 4.77% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | $15.46M | ― | -7.09% | 7.89% | -8.96% | -88.67% | |
51 Neutral | $23.67M | -4.01 | -3.35% | ― | 11.80% | -186.40% | |
46 Neutral | $19.03M | ― | -8.88% | ― | -19.63% | -144.86% | |
46 Neutral | ― | ― | ― | ― | 35.58% | -119.92% |
Castor Maritime Corporate Events
Castor Maritime Inc. announced the signing of a $50 million sustainability-linked senior term loan facility with a European bank, secured by a first priority mortgage over four of its dry bulk vessels. The loan, which has a five-year term, will support general corporate purposes and includes interest adjustments based on sustainability performance targets. Additionally, on October 13, 2025, Castor completed the full redemption of its Series E Preferred Shares, selling them to Toro Corp. for $60 million. This transaction, approved by both companies’ boards, results in the cancellation of the shares, impacting Castor’s financial structure and shareholder equity.
Castor Maritime Inc. released its unaudited consolidated interim financial statements for the six months ending June 30, 2025. The report highlights a significant decrease in cash and cash equivalents from $87.9 million at the end of 2024 to $44.8 million by mid-2025. This financial update may impact the company’s liquidity and operational strategies moving forward.
On October 1, 2025, Castor Maritime Inc. reported its financial results for the second quarter and first half of 2025, revealing significant decreases in revenue and net income compared to the previous year. The company experienced a 37.4% drop in total vessel revenues and a 72.5% decrease in net income for the second quarter, attributed to reduced available days and lower charter rates. Additionally, Castor completed a private placement of Series E Preferred Shares with Toro Corp. on September 29, 2025, raising $60 million to support capital expenditures and other corporate purposes. The transaction, which closed on September 30, 2025, is expected to enhance Castor’s financial flexibility amid ongoing market challenges.
On September 12, 2025, Castor Maritime Inc. held its 2025 Annual General Meeting of Shareholders in Limassol, Cyprus, where key proposals were approved. These included the re-election of Mr. Dionysios Makris as Class B Director until 2028 and the appointment of Deloitte Certified Public Accountants S.A. as independent auditors for the fiscal year 2025. These decisions reflect the company’s ongoing commitment to maintaining strong governance and financial oversight.
On August 11, 2025, Castor Maritime Inc. reported a challenging first quarter for 2025, with total vessel revenues dropping by 44.6% to $11.3 million compared to the same period in 2024. The company faced a net loss of $23.3 million, primarily due to unrealized losses from equity investments. Despite the decrease in revenues and net income, Castor Maritime successfully repaid a $100 million loan from Toro Corp., enhancing its financial flexibility and reducing leverage. The company remains focused on strategic growth in the shipping and energy sectors, despite the softer conditions in the dry bulk market.
On July 29, 2025, Castor Maritime Inc. completed a sale and leaseback transaction for the M/V Magic Thunder, a 2011-built Kamsarmax bulk carrier vessel, with a Japanese counterparty. The transaction, valued at $14.6 million, includes a five-year bareboat charter and a purchase option starting at the end of the second year, potentially enhancing Castor’s financial flexibility and operational strategy.
On July 29, 2025, Castor Maritime Inc. announced that its 2025 Annual General Meeting of Shareholders will be held on September 12, 2025, in Limassol, Cyprus. The announcement sets the record date for shareholders entitled to vote at the meeting as July 14, 2025. This meeting is a significant event for the company as it provides an opportunity for shareholders to engage with the company’s leadership and discuss future strategies, potentially impacting the company’s operations and market positioning.