Castor Maritime (CTRM) AI Stock Analysis

• Market Cap: $22.71M
• Dividend Yield: N/A
• Average Volume (3M): 37.63K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.52
• Revenue Growth: -1.35%
• EPS Growth: -118.25%
• Country: US
• Employees: 1
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): N/A
• Shares Outstanding: 9,662,354
• 10 Day Avg. Volume: 30,491
• 30 Day Avg. Volume: 37,633
• PEG Ratio: -0.19
• Price to Book (P/B): 0.05
• Price to Sales (P/S): 0.40
• P/FCF Ratio: -0.88
• Enterprise Value/Market Cap: -4.23
• Enterprise Value/Revenue: -1.27
• Enterprise Value/Gross Profit: -4.97
• Enterprise Value/Ebitda: -9.39
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: $2.50 ▲(30.21% Upside)

The score is held back primarily by weak financial performance—large losses, negative operating margins, and worsening free cash flow—despite a conservatively leveraged balance sheet. Technicals provide some support with the stock trading above key moving averages and modestly positive momentum, but valuation remains constrained by negative earnings and no dividend yield data.

Positive Factors

Conservative leverage / balance sheet strength

A low debt-to-equity ratio indicates conservative leverage, giving Castor greater resilience across shipping cycles. This structural strength reduces near-term refinancing risk, preserves capacity to fund vessel investments or weather downturns, and supports strategic optionality.

Diversified fleet and charter business model

Owning a mix of Panamax and Supramax vessels and using both time and spot charters provides durable operational flexibility. This lets management match capacity to market demand, serve varied cargoes and counterparties, and smooth revenue volatility over mid-term shipping cycles.

Sale-and-leaseback improves liquidity while retaining operation

The $15.6M sale-and-leaseback converts an asset into long-dated financing while retaining vessel use, strengthening liquidity without losing operational control. The long tenor and purchase option preserve strategic upside and reduce immediate capital strain, improving capital structure durability.

Negative Factors

Persistent negative profitability margins

Deep negative margins signal structural inability to convert revenue into sustainable profits. Over months this undermines retained earnings, constrains reinvestment in the fleet, and raises the likelihood of recurring asset disposals or restructuring to restore long-term profitability.

Weak cash generation and free cash flow

Material negative FCF growth and poor cash conversion indicate chronic cash-generation weakness. This restricts funding for maintenance, growth capex and debt service, raising reliance on external financing or asset sales and increasing long-term liquidity and operational risk.

Related-party governance and capital structure uncertainty

Related-party ties and deferred preferred conversions create enduring governance and capital-structure uncertainty. Special-committee approvals highlight potential conflicts; timing and terms of conversions may dilute shareholders or constrain future financing, complicating long-term strategic planning.

Castor Maritime Business Overview & Revenue Model

Company Description

Castor Maritime Inc. provides shipping services worldwide. The company operates through three segments: Dry Bulk, Aframax/LR2 Tanker, and Handysize Tanker. It offers seaborne transportation services for dry bulk cargo; commodities, such as iron ore, coal, soybeans, etc.; and crude oil and refined petroleum products. As of December 31, 2021, the company owned and operated a fleet of 29 vessels primarily consisting of two Handysize tanker vessels, seven Aframax/LR2 tanker vessels, and 14 dry bulk vessels. Castor Maritime Inc. was incorporated in 2017 and is based in Limassol, Cyprus.

How the Company Makes Money

Castor Maritime generates revenue primarily through the chartering of its fleet of vessels. The company earns income by entering into time charters and spot charters with shipping companies, where it either leases its ships for a predetermined period or on an ad-hoc basis. The revenue model is influenced by the fluctuating rates in the shipping market, which are driven by global supply and demand dynamics for dry bulk commodities. Additionally, Castor Maritime may benefit from long-term contracts with key clients, which can provide more stable income streams. Factors contributing to its earnings include the operational efficiency of its fleet, market conditions affecting shipping rates, and strategic partnerships that enhance its market reach.

Castor Maritime Financial Statement Overview

Summary

Revenue is growing (TTM +11.13%), but profitability is weak with deeply negative net margin (-65.41%) and negative EBIT/EBITDA margins, pointing to ongoing operating inefficiency. The balance sheet is relatively stable with low leverage (debt-to-equity 0.17) and a solid equity base, but negative ROE (-8.15%) and deteriorating/free cash flow pressure (FCF growth -40.62%) weigh heavily.

Income Statement

The income statement shows a mixed performance. While there is a positive revenue growth rate of 11.13% in the TTM, the company is struggling with profitability as indicated by a negative net profit margin of -65.41% and a negative EBIT margin of -35.05%. The gross profit margin is relatively low at 23.79%, suggesting challenges in cost management. The EBITDA margin is also negative, indicating operational inefficiencies.

Balance Sheet

The balance sheet reflects a stable financial structure with a low debt-to-equity ratio of 0.17, indicating conservative leverage. However, the return on equity is negative at -8.15%, pointing to inefficiencies in generating returns for shareholders. The equity ratio is strong, showing a solid equity base relative to total assets.

Cash Flow

Cash flow analysis reveals significant challenges. The free cash flow growth rate is negative at -40.62%, and the free cash flow to net income ratio is -4.15, indicating cash flow issues. The operating cash flow to net income ratio is 0.30, suggesting that operating cash flows are not sufficient to cover net income losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	75.41M	66.24M	97.52M	150.22M	132.05M	12.49M
Gross Profit	19.35M	19.65M	28.47M	86.70M	65.53M	2.55M
EBITDA	10.24M	37.37M	55.71M	92.28M	69.99M	2.36M
Net Income	-28.22M	14.62M	38.64M	118.56M	52.27M	-1.75M
Balance Sheet
Total Assets	792.45M	797.38M	605.04M	632.92M	462.91M	74.37M
Cash, Cash Equivalents and Short-Term Investments	181.12M	157.02M	188.47M	100.59M	37.17M	8.93M
Total Debt	4.98M	111.32M	83.39M	138.77M	102.04M	18.19M
Total Liabilities	80.40M	171.91M	94.31M	171.43M	119.98M	21.99M
Stockholders Equity	652.98M	570.13M	510.73M	461.50M	342.93M	52.38M
Cash Flow
Free Cash Flow	-34.69M	-30.26M	41.97M	47.35M	-287.87M	-37.82M
Operating Cash Flow	7.94M	41.91M	42.59M	123.75M	60.78M	-2.34M
Investing Cash Flow	-172.48M	-133.48M	-9.12M	-63.74M	-348.64M	-35.47M
Financing Cash Flow	114.92M	59.56M	-64.88M	48.90M	321.82M	42.18M

Castor Maritime Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.92
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTRM, the sentiment is Positive. The current price of 1.92 is below the 20-day moving average (MA) of 2.15, below the 50-day MA of 2.14, and below the 200-day MA of 2.16, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 57.07 is Neutral, neither overbought nor oversold. The STOCH value of 82.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CTRM.

Castor Maritime Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PSHG	74 Outperform	$26.23M	1.19	17.90%	―	-11.07%	-13.39%
TOPS	65 Neutral	$23.64M	2.22	7.94%	―	4.77%	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
CTRM	52 Neutral	$22.71M	-0.75	-5.54%	―	-1.35%	-118.25%
GLBS	51 Neutral	$33.14M	-7.17	-2.63%	―	18.49%	-264.74%
USEA	47 Neutral	$16.32M	-3.59	-7.09%	6.20%	-8.96%	-88.67%

Castor Maritime Corporate Events

Castor Maritime Seals $15.6 Million Sale-and-Leaseback Deal for M/V Magic Perseus

On January 5, 2026, Castor Maritime Inc. announced it had signed a sale and leaseback agreement for the M/V Magic Perseus, a 2013-built Kamsarmax bulk carrier, with a Japanese counterparty, with the transaction expected to close later in January 2026. The bareboat financing totals $15.6 million over an eleven-year term and includes a put option for the counterparty after eight years and a purchase option for Castor starting from the end of the second year, indicating a move to optimize the company’s capital structure and maintain operational control of the vessel while potentially freeing up liquidity for broader fleet and energy-infrastructure ambitions.

The most recent analyst rating on (CTRM) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Castor Maritime stock, see the CTRM Stock Forecast page.

Castor Maritime and Toro Push Back Convertible Preferred Share Conversion to 2027

On December 23, 2025, Castor Maritime Inc. and Toro Corp. agreed to amend the terms of their cross-held perpetual convertible preferred shares, extending the initial conversion dates of Castor’s 5.00% Series D and Toro’s 1.00% Series A preferred shares by one year to January 1, 2027 and March 7, 2027, respectively. Toro, a Nasdaq-listed company whose chairman and CEO also serves as Castor’s chairman, CEO and CFO, had the amendments negotiated and approved through special committees of disinterested and independent directors at both companies, underscoring an effort to address related-party governance concerns while deferring potential equity conversions and their implications for capital structure and shareholder dilution.

The most recent analyst rating on (CTRM) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Castor Maritime stock, see the CTRM Stock Forecast page.

Castor Maritime Reports Q3 2025 Financial Results with Significant Net Income Growth

On December 3, 2025, Castor Maritime Inc. reported its financial results for the three and nine months ended September 30, 2025. The company saw a significant increase in net income for the third quarter, reaching $21.0 million, a 650% rise compared to the previous year. However, for the nine-month period, net income decreased by 91.7% to $4.0 million. The company experienced a decrease in total vessel revenues due to fewer available days following vessel sales, but this was partially offset by higher charter rates. The company also completed four vessel disposals and fully repaid a term loan from Toro Corp. These financial results highlight Castor Maritime’s strategic adjustments and its efforts to optimize its capital structure and capture future opportunities in the dry-bulk market.

The most recent analyst rating on (CTRM) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Castor Maritime stock, see the CTRM Stock Forecast page.