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what it is
Costamare owns cargo ships and rents them to big liner and bulk shipping companies.
how it gets paid
Last year Costamare made $878M in revenue. Containership chartering was the main engine at $0.56B, or 64% of sales.
why growth slowed
Revenue fell 1.2% last year. The $441M revenue line mattered most because flat sales show the company is still dependent on freight pricing and vessel utilization.
what just happened
Costamare posted $441M of revenue and $1.49 EPS, with profits down 4% vs. prior year.
At a glance
n/a balance sheet
25/100 earnings predictability — expect surprises
6.9x trailing p/e — the market's not buying it — or you found a deal
2.9% dividend yield — cash in your pocket every quarter
9.4% return on capital — nothing to write home about
xvary composite: 74/100 — average
What they do
Costamare owns cargo ships and rents them to big liner and bulk shipping companies.
Costamare has 69 containerships and six more under construction. That gives you a fleet, not a one-boat gamble. It charters ships to Maersk, MSC, Evergreen, Yang Ming, Cosco, Hapag-Lloyd, and ZIM, which means the cash comes from large customers paying to rent steel. 2,430 employees support a 52.0% operating margin. That is a lot of profit for a business that mostly moves metal boxes and dry bulk cargo.
How they make money
$878M
annual revenue · their business grew -1.2% last year
Containership chartering
$0.56B
Dry bulk chartering
$0.22B
Leasing and other
$0.098B
The products that matter
leases containership capacity
Containerships
$~790M · about 90% of revenue
this is the core engine. When one segment drives about 90% of revenue, you are making a freight-market bet whether you planned to or not.
core revenue engine
leases dry bulk capacity
Dry Bulk Vessels
$~88M · about 10% of revenue
this segment helps, but size matters. About $88M of revenue does not offset weakness in the much larger containership book.
secondary segment
pays shareholder income
Dividend
2.9% yield
the dividend gives you cash while you wait. The catch: in a cyclical business, that yield feels safer when revenue is rising than when it just slipped 1.2%.
income hook
Key numbers
52.0%
operating margin
For every $100 of revenue, Costamare kept $52 before interest and taxes. That is a wide margin for a shipping owner.
2.9%
dividend yield
You get $2.90 a year for every $100 invested. That is income, not excitement.
$1.7B
long-term debt
Debt equals 47% of capital. That makes the balance sheet more sensitive when freight rates soften.
$0.878B
annual revenue
This is the size of the business. A 1.2% drop is about $10.5M, which shows how fast small declines add up.
Financial health
n/a
strength
- balance sheet grade n/a
- risk rank 2 — safer than 80% of stocks
- price stability 40 / 100
- long-term debt $1.7B (47% of capital)
n/a — risk rank looks solid but long-term debt needs watching.
Total return vs. market
Return history isn't available for CMRE right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Costamare posted $441M of revenue and $1.49 EPS, with profits down 4% vs. prior year.
Revenue was flat vs. prior year. EPS slipped 4% to $1.49, while still shows a 52.0% operating margin for the business.
$441M
revenue
$1.49
eps
n/a
n/a
the number that mattered
The $441M revenue line mattered most because flat sales show the company is still dependent on freight pricing and vessel utilization.
source: EDGAR filing
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What could go wrong
CMRE's risk stack is specific: one market drives about 90% of revenue, that revenue already slipped 1.2%, and the company still carries $1.7B of long-term debt.
high
containership rate pressure
containership leasing is about $~790M of revenue, or roughly 90% of the business. if that market weakens, the main engine slows immediately.
primary revenue exposure
med
balance-sheet leverage
costamare carries $1.7B of long-term debt, equal to 47% of capital. that's workable when charter conditions cooperate and much less forgiving when they don't.
capital structure risk
med
cyclical earnings quality
earnings predictability is just 25/100. in human-speak, this is not the kind of company where you casually annualize one decent stretch and call it durable.
valuation can reset fast
low
fleet upkeep and regulation
a 50-ship fleet brings maintenance, compliance, and replacement demands whether markets are strong or weak. When revenue is soft, fixed operating realities feel heavier.
cash flow drag
what would change our mind: if revenue stabilizes after the 1.2% decline, earnings quality improves from 25/100, and debt stops dominating the equity story, the low multiple starts to look more like opportunity than warning. Until then, you should treat this as a leveraged cyclical, not a defensive income stock.
source: institutional data · regulatory filings · risk analysis
Pay attention to
next event
feb 18, 2026 earnings call
you want direct commentary on containership demand, dry bulk conditions, and whether management sounds calm or cautious about leverage.
industry
container and dry bulk rate direction
revenue already fell 1.2% last year. if freight markets stay soft, the low multiple stops looking cheap and starts looking honest.
balance sheet
debt relative to equity value
$1.7B of long-term debt against a roughly $2B market cap is the contrast that frames almost everything else on this page.
quality
earnings predictability
the score is 25/100. if you want to own this for more than a shipping cycle, that number needs to start moving the right way.
Analyst rankings
earnings predictability
25 / 100
in human-speak, analysts do not view this as a steady earnings story.
risk rank
2
that places it among the safer 20% of stocks in this data set. yes, that sounds strange next to $1.7B of debt. welcome to screening models.
price stability
40 / 100
the stock is not chaos, but it is also not where you go to forget your password and sleep well.
source: institutional data
Institutional activity
institutional ownership data for CMRE is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$17
current price
n/a
target midpoint · n/a from current
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