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Costamare (CMRE) AI Stock Analysis
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Costamare
(NYSE:CMRE)
The score is driven primarily by mixed financial performance—excellent margins and positive operating cash flow, but weakening revenue and sharply negative TTM free cash flow. Valuation is a meaningful positive with a low P/E and a ~3% dividend yield, while technicals point to improving but not fully established longer-term momentum.
Costamare Key Performance Indicators (KPIs)
Average Number of VesselsTracks 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.
After aggressive fleet expansion through 2022 and a multi‑quarter plateau, Costamare executed a sharp, sustained reduction in average vessels beginning mid‑2025 — roughly a one‑third cut that persists into 2026. This looks like deliberate disposals/redeliveries rather than temporary idling, shifting the company from growth‑by‑assets to a leaner, deleveraging or cash‑return posture; it will materially lower the revenue base unless offset by higher charter rates or redeployment of sale proceeds, so monitor charter coverage, backlog and use of proceeds versus debt reduction.
The FlyCostamare (CMRE) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $1.71B
- Dividend Yield
- 3.39%
- Average Volume (3M)
- 391.56K
- Price to Earnings (P/E)
- 5.5
- Beta (1Y)
- 0.62
- Revenue Growth
- -42.03%
- EPS Growth
- 3.81%
- Country
- US
- Employees
- 1,880
- Sector
- Industrials
- Sector Strength
- 63
- Industry
- Marine Shipping
Costamare Business Overview & Revenue Model
Company Description
Costamare Inc. owns and operates containerships and dry bulk vessels worldwide. Its containerships are chartered to liner companies providing transportation of cargoes. The company also charters dry bulk vessels to various customers providing worldwi...
How the Company Makes Money
Costamare primarily makes money by earning charter hire from leasing its containerships to liner operators under time-charter contracts. Under a time charter, the customer pays a contracted daily or periodic rate for the use of the vessel for a speci...
Costamare Earnings Call Summary
The call presented multiple strong positives: solid Q1 profitability ($75M), robust liquidity (~$640–645M), a large secured newbuilding program of 16 vessels with long-term charters to COSCO (incremental contracted revenues of ~$2.8B), total contracted revenues of $6.2B with high employment coverage (97% for 2026, 94% for 2027), fleet renewal benefits (22 vessels under construction, fleet age reduction ~3.7 years) and an increased quarterly dividend (~+8.7%). Downsides are primarily execution and market risks: concentration of charters with one counterparty, long delivery timeline through 2030, funding/leverage implications from sizable capital commitments, and the purchase of older secondhand vessels. Overall, the positives—secured long-term cash flows, improved fleet profile and shareholder returns—outweigh the identified risks.
Q1-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management’s guidance emphasized strong cash generation and long‑term visibility: Q1 net income was about $75M (adjusted net income $76M, EPS $0.62/$0.63) with total liquidity roughly $640–645M, and a recommended quarterly dividend increase from $0.115 to $0.125/share commencing Q2’26. The company has ordered 16 newbuilds (12 ~9,200 TEU and 4 x 3,100 TEU) bringing 22 vessels under construction, with deliveries Q4’27–Q2’30 and pre/post‑delivery financing (up to 15‑year tenors) arranged with two Chinese banks; upon delivery the 12 larger and four smaller ships will commence 15‑year and 8‑year charters with COSCO, yielding incremental contracted revenues of about $2.8B and taking total contracted revenues to $6.2B with a TEU‑weighted remaining charter duration of 6.1 years and revenue days fixed at 97% for 2026 and 94% for 2027. Management also agreed to acquire two secondhand 5,600 TEU (built 2001) vessels to be delivered Q4’26 and enter 42‑month charters, noted the newbuild program increases the charter‑book weighted average duration by ~2 years and lowers fleet average age by ~3.7 years by 2030, and highlighted a robust market with idle fleet at ~1%.
Costamare Financial Statement Overview
Summary
Strong profitability (very high TTM margins) and still-solid operating cash flow, but revenue has declined in 2025 and TTM and results are cyclical/volatile. The biggest drag is free cash flow turning sharply negative in TTM, reducing flexibility for debt reduction and shareholder returns despite improving leverage.
Income Statement
74PositiveBalance Sheet
66PositiveCash Flow
45Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 839.45M | 877.90M | 2.08B | 1.51B | 1.11B | 793.64M |
| Gross Profit | 481.90M | 502.83M | 556.66M | 436.42M | 600.66M | 441.87M |
| EBITDA | 542.02M | 637.24M | 619.87M | 699.28M | 841.38M | 643.45M |
| Net Income | 338.80M | 364.57M | 319.92M | 385.75M | 554.96M | 435.12M |
Balance Sheet | ||||||
| Total Assets | 4.01B | 3.86B | 5.15B | 5.29B | 4.90B | 4.41B |
| Cash, Cash Equivalents and Short-Term Investments | 380.41M | 547.25M | 766.44M | 813.02M | 838.06M | 276.00M |
| Total Debt | 1.50B | 1.51B | 2.35B | 2.65B | 2.58B | 2.56B |
| Total Liabilities | 1.72B | 1.70B | 2.58B | 2.85B | 2.74B | 2.68B |
| Stockholders Equity | 2.22B | 2.09B | 2.51B | 2.38B | 2.16B | 1.73B |
Cash Flow | ||||||
| Free Cash Flow | -133.33M | 472.28M | 257.23M | 49.04M | 500.88M | -525.60M |
| Operating Cash Flow | 467.86M | 541.25M | 537.72M | 331.37M | 562.77M | 466.49M |
| Investing Cash Flow | -398.58M | -162.90M | -79.51M | 79.09M | 46.22M | -787.46M |
| Financing Cash Flow | -171.48M | -586.01M | -505.48M | -396.81M | -149.67M | 482.59M |
Costamare Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CMRE, the sentiment is Negative. The current price of 14.16 is below the 20-day moving average (MA) of 14.48, below the 50-day MA of 14.81, and below the 200-day MA of 15.59, indicating a bearish trend. The MACD of -0.16 indicates Negative momentum. The RSI at 44.94 is Neutral, neither overbought nor oversold. The STOCH value of 58.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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.
Latest Risks Added
2 New RisksCostamare Peers Comparison
Overall Rating
GSL86.9Outperform
DAC83Outperform
SBLK79.5Outperform
NMM77Outperform- CMRE66Neutral
SFL64Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| GSL | 87Outperform | $1.50B | 4.01 | 20.88% | 5.99% | 5.55% | -3.50% |
| DAC | 83Outperform | $2.86B | 5.30 | 13.97% | 6.11% | 2.45% | 21.62% |
| SBLK | 80Outperform | $3.18B | 11.08 | 11.71% | 6.63% | 6.34% | 141.62% |
| NMM | 77Outperform | $2.55B | 5.88 | 13.13% | 0.24% | 13.38% | 52.73% |
| CMRE | 66Neutral | $1.71B | 5.47 | 15.31% | 3.39% | -42.03% | 3.81% |
| SFL | 64Neutral | $1.95B | 26.98 | 6.46% | 6.49% | -15.61% | 81.02% |
| Sector * | 63Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| CMRE | Costamare | 14.16 | 2.12 | 17.58% | |
| DAC | Danaos | 157.02 | 72.00 | 84.69% | |
| GSL | Global Ship Lease | 41.74 | 12.18 | 41.21% | |
| NMM | Navios Maritime Partners | 90.02 | 41.69 | 86.25% | |
| SFL | Sfl Corporation Limited | 12.95 | 6.09 | 88.86% | |
| SBLK | Star Bulk Carriers | 28.36 | 11.34 | 66.60% |
Costamare Corporate Events
Costamare Elects Class I Director and Confirms Auditor at 2026 AGM
On October 6, 2026, Costamare Inc. held its virtual annual meeting of stockholders, at which shareholders elected Konstantinos Zacharatos as a Class I director to serve until the 2029 annual meeting. At the same meeting, investors ratified the appoin...
Costamare Declares Quarterly Dividends on Preferred and Common Shares
On October 1, 2026, Costamare Inc. declared quarterly cash dividends on its three series of preferred shares and its common stock, reinforcing its capital return policy to shareholders. The preferred stock dividends, covering the period from July 15...
Costamare Files Stronger Mid‑2026 Balance Sheet With Expanded Fleet Assets
Costamare Inc. has filed unaudited interim condensed consolidated financial statements for the six months ended June 30, 2026, showing total assets rising to about $4.0 billion from $3.86 billion at year-end 2025 and Costamare stockholders’ equ...
Costamare Sets October 6 Virtual Annual Meeting, Highlights Concentrated Voting Control
Costamare Inc. has filed a Form 6-K for August 2026, distributing its proxy statement, proxy card and 2025 annual report ahead of the 2026 Annual Meeting of Stockholders, scheduled as a virtual event on October 6, 2026 at 12:00 p.m. CET. Shareholders...
Costamare Posts Strong Q2 2026 Results and Locks In $1.3 Billion in Vessel Financings
Costamare reported unaudited results for the second quarter and six‑month period ended June 30, 2026, posting Q2 net income from continuing operations of $77.4 million and liquidity of $423 million. Management highlighted that voyage revenue ha...
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: Sep 06, 2026