Costamare Inc. (CMRE) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.48	$0.64	+33.3%	—	$209.2M	—
Q1 26	$0.69	$0.63	-8.7%	—	$211.1M	—
Q4 25	$0.54	$0.6	+11.1%	—	$212M	—
Q3 25	$0.71	$0.81	+14.1%	—	$225.2M	—
Q2 25	$0.57	$0.77	+35.1%	—	-$5.5M	—
Q1 25	$0.52	$0.61	+17.3%	—	$446.2M	—
Q4 24	$0.65	$0.69	+6.2%	—	$548.4M	—
Q3 24	$0.64	$0.68	+6.3%	—	$544.6M	—
Q2 24	$0.72	$0.77	+6.9%	—	$515.4M	—
Q1 24	$0.62	$0.63	+1.6%	—	$475.4M	—
Q4 23	$0.62	$0.68	+9.7%	—	$494.8M	—
Q3 23	$0.44	$0.46	+4.5%	—	$400.4M	—
Q2 23	$0.51	$0.56	+9.8%	—	$367.4M	—
Q1 23	$0.36	$0.38	+5.6%	—	$248.8M	—
Q4 22	$0.65	$0.61	-6.2%	—	$265.4M	—
Q3 22	$0.85	$0.88	+3.5%	—	$289.5M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.86	—	—	$877.9M	—
FY24	—	$2.44	—	—	$2.1B	—
FY23	—	$2.95	—	—	$1.5B	—
FY22	—	$4.26	—	—	$1.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$468.2M	$412.4M	$380.4M	$478.1M	$460.3M	$793.6M	$1.1B	$1.5B	$2.1B	$877.9M
YoY change	-4.52%	-11.9%	-7.77%	+25.7%	-3.72%	+72.4%	+40.3%	+35.7%	+37.9%	-57.9%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	468.2M	412.4M	380.4M	478.1M	460.3M	793.6M	1.1B	1.5B	2.1B	877.9M
Cost of revenue	226.8M	222M	231.3M	249.1M	248.7M	351.8M	513.2M	1.1B	1.5B	375.1M
Gross profit	241.4M	190.4M	149.1M	229M	211.6M	441.9M	600.7M	436.4M	556.7M	502.8M
Gross margin	51.6%	46.2%	39.2%	47.9%	46%	55.7%	53.9%	28.9%	26.7%	57.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	14.7M	9.5M	9.2M	9.4M	11M	16.8M	19.5M	24.2M	33.5M	20M
Operating expenses	33.3M	28.2M	28.7M	30.7M	32.6M	46.4M	66.3M	80.5M	92.7M	48.9M
Operating income	208M	162.2M	120.4M	198.3M	179M	395.4M	534.4M	356M	463.9M	453.9M
Operating margin	44.4%	39.3%	31.6%	41.5%	38.9%	49.8%	48%	23.6%	22.3%	51.7%
Non-operating income, net	-78M	-35.7M	4.4M	-16.2M	-108.2M	111.2M	126.8M	151.8M	-24.4M	24.1M
Pretax income	81.7M	72.9M	67.2M	99M	8.9M	435.1M	554.7M	381M	316.3M	396.5M
Income tax	—	—	—	—	—	—	—	—	—	—
Net income	81.7M	72.9M	67.2M	99M	8.9M	435.1M	554.7M	381M	316.3M	369M
Net margin	17.5%	17.7%	17.7%	20.7%	1.93%	54.8%	49.8%	25.2%	15.2%	42%
EBITDA	311M	265M	232.1M	326.9M	306.6M	549.7M	707.3M	555.2M	647.1M	592.7M
EPS	0.79	0.52	0.33	0.59	-0.18	3.28	4.26	2.95	2.44	2.86
Diluted EPS	0.79	0.52	0.33	0.59	-0.18	3.28	4.26	2.95	2.44	2.86

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	400.4M	494.8M	475.4M	515.4M	544.6M	548.4M	446.2M	-5.5M	225.2M	212M	211.1M	209.2M
Cost of revenue	286.8M	371.1M	349.1M	364.7M	420.5M	392.9M	311.2M	-129.8M	95.8M	97.9M	98.4M	98.1M
Gross profit	113.5M	123.8M	126.3M	150.7M	124.2M	155.5M	135.1M	124.3M	129.4M	114.1M	112.6M	111.1M
Gross margin	28.4%	25%	26.6%	29.2%	22.8%	28.4%	30.3%	-2.3K%	57.5%	53.8%	53.4%	53.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	7.4M	5.5M	6.9M	8.2M	10.1M	8.3M	8.8M	1.3M	4M	6M	7.7M	5.3M
Operating expenses	21.3M	17.8M	21.5M	22.9M	26.1M	22.3M	22.8M	1.5M	11.3M	13.4M	15M	12.7M
Operating income	92.2M	106M	104.8M	127.8M	98.1M	133.2M	112.3M	122.8M	118.1M	100.7M	97.6M	98.4M
Operating margin	23%	21.4%	22%	24.8%	18%	24.3%	25.2%	-2.2K%	52.5%	47.5%	46.3%	47%
Non-operating income, net	-8.1M	40.9M	29.3M	6M	11.4M	-71.1M	13.2M	8.3M	1.6M	1.1M	984K	1.8M
Pretax income	60.1M	104.7M	102.7M	102.9M	78.9M	31.9M	100.8M	117.2M	99.4M	79.2M	81.9M	83.9M
Income tax	—	—	—	—	—	—	—	—	—	—	—	—
Net income	60.1M	104.7M	102.7M	102.9M	78.9M	31.9M	100.8M	89.7M	99.4M	79.2M	81.9M	83.9M
Net margin	15%	21.2%	21.6%	20%	14.5%	5.82%	22.6%	-1.6K%	44.1%	37.3%	38.8%	40.1%
EBITDA	150M	148.9M	150.6M	175.3M	144.3M	176.8M	158M	148.2M	153.1M	133.4M	132.4M	131.8M
EPS	—	0.82	0.79	0.77	—	0.25	0.79	—	0.77	0.6	0.62	0.64
Diluted EPS	—	0.82	0.79	0.77	—	0.25	0.79	—	0.77	0.6	0.62	0.64

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	432.6M	—	484.6M	1.1B	999.4M	1.6B	1.1B	1.3B	1.5B	1.9B	1.8B
Enterprise value	1.7B	—	2B	2.5B	2.4B	3.8B	2.9B	3.1B	3.1B	2.8B	2.9B
Shares outstanding	77.2M	100.5M	110.4M	115.7M	120.7M	123.1M	123M	120.3M	119.3M	120.2M	120.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	5.29	—	7.21	11.1	112.6	3.58	2.06	3.29	4.85	5.14	5.49
P/S	0.92	—	1.27	2.31	2.17	1.96	1.02	0.83	0.74	2.16	2.05
P/B	0.4	—	0.36	0.78	0.74	0.9	0.53	0.51	0.6	0.88	0.79
EV/EBITDA	5.41	—	8.7	7.67	7.96	6.98	4.08	5.56	4.82	4.76	5.31
EV/Sales	3.59	—	5.31	5.25	5.3	4.84	2.59	2.04	1.5	3.21	3.38
Earnings yield	18.9%	—	13.9%	8.97%	0.89%	27.9%	48.6%	30.4%	20.6%	19.4%	18.2%
FCF yield	50.3%	—	-0.46%	17.1%	17.2%	-33.8%	45.5%	3.92%	16.8%	12.8%	-13%
PEG	—	—	—	—	—	—	—	—	—	—	5.23

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	51.6%	46.2%	39.2%	47.9%	46%	55.7%	53.9%	28.9%	26.7%	57.3%	53.1%
Operating margin	44.4%	39.3%	31.6%	41.5%	38.9%	49.8%	48%	23.6%	22.3%	51.7%	47%
Net margin	17.5%	17.7%	17.7%	20.7%	1.93%	54.8%	49.8%	25.2%	15.2%	42%	39.5%
ROE	7.6%	5.98%	4.95%	7.02%	0.66%	25.2%	25.7%	15.6%	12.3%	17.1%	16%
ROA	3.19%	2.93%	2.2%	3.29%	0.29%	9.87%	11.3%	7.21%	6.14%	9.55%	6.69%
Return on tangible assets	3.19%	2.93%	2.21%	3.29%	0.3%	9.88%	11.3%	7.21%	6.14%	9.55%	8.59%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.75	0.82	0.76	0.74	0.93	1.15	2.4	1.69	1.4	1.73	1.61
Quick ratio	0.71	0.78	0.71	0.7	0.88	1.09	2.33	1.59	1.32	1.7	1.57
Debt / equity	1.32	1	1.21	1.1	1.18	1.48	1.2	1.09	0.92	0.7	0.66
Debt / assets	0.55	0.49	0.54	0.52	0.53	0.58	0.53	0.5	0.46	0.39	0.38
Net debt / EBITDA	4.02	3.94	6.61	4.3	4.7	4.15	2.47	3.3	2.45	1.55	1.95
Interest coverage	2.64	2.3	2.11	2.15	1.14	7.06	6.17	3.5	3.26	5.42	5.36

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	6.06	4.1	3.45	4.13	3.81	6.45	9.06	12.6	17.5	7.3	7.11
EPS (basic)	0.79	0.52	0.33	0.59	-0.18	3.28	4.26	2.95	2.44	2.86	2.86
EPS (diluted)	0.79	0.52	0.33	0.59	-0.18	3.28	4.26	2.95	2.44	2.86	2.65
Book value per share	13.9	12.1	12.3	12.2	11.2	14	17.6	20.3	21.5	18	18.4
FCF per share	2.82	1.27	-0.02	1.63	1.43	-4.27	4.23	0.41	2.16	2.01	-1.1
Cash per share	2.13	1.78	1.03	1.29	1.19	2.24	6.82	6.76	6.42	4.94	3.57
Capex per share	0.01	0.37	1.17	0.35	0.59	7.06	1.29	0.33	0.76	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.18%	9.04%	34%	8.52%	15.6%	109.6%	14.2%	2.6%	4.36%	—	—
Capex / operating cash flow	0.44%	21.7%	92.6%	17.9%	47.4%	154.8%	23.1%	7.69%	18.5%	—	—
Payout ratio	91.8%	51.8%	73.1%	59.2%	737.5%	16.4%	21.6%	18.9%	23.4%	21.5%	17.4%
Dividend yield	17.3%	—	10.1%	5.32%	6.55%	4.58%	10.5%	5.74%	4.84%	4.18%	3.4%

Yield

3.4%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.125

ex-dividend Jul 21, 2026

Payout ratio

17%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 21, 2026	$0.125
Apr 20, 2026	$0.115
Jul 21, 2025	$0.115

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$400.4M	$494.8M	$475.4M	$515.4M	$544.6M	$548.4M	$446.2M	-$5.5M	$225.2M	$212M	$211.1M	$209.2M
YoY change	+38.3%	+86.4%	+91.1%	+40.3%	+36%	+10.8%	-6.14%	-101.1%	-58.7%	-61.3%	-52.7%	+3.9K%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	164.9M	179M	113.7M	148.9M	143.9M	276M	838.1M	813M	766.4M	594.2M
Receivables	971K	1.3M	5.6M	7.4M	8.2M	21M	26.9M	50.7M	45.5M	11.6M
Inventory	11.4M	9.7M	11M	10.5M	10.5M	21.4M	28M	61.3M	57.7M	14.1M
Total current assets	209.8M	226.6M	170.8M	197.2M	192.1M	426.1M	1B	1.1B	1B	690.7M
Property, plant & equipment	-615.7M	-600.6M	-690.6M	-953.5M	-1.1B	-1B	-1.1B	-1.2B	-1.4B	-1.4B
Goodwill & intangibles	—	0	2.4M	2.1M	1.7M	1.3M	936K	538K	148K	0
Total assets	2.6B	2.5B	3.1B	3B	3B	4.4B	4.9B	5.3B	5.1B	3.9B
Accounts payable	3.8M	6.3M	8.6M	6.2M	7.6M	18.9M	18.2M	46.8M	49.4M	11.3M
Short-term debt	227.3M	239.2M	183.5M	227.6M	163.6M	289M	320.1M	510.7M	546.9M	268.1M
Total current liabilities	280M	276.7M	224.7M	266.5M	207M	370M	423.1M	662.8M	745.6M	398.6M
Long-term debt	1.2B	984M	1.5B	1.3B	1.4B	2.3B	2.3B	2.1B	1.8B	1.2B
Total liabilities	1.5B	1.3B	1.7B	1.6B	1.7B	2.7B	2.7B	2.8B	2.6B	1.7B
Shareholders' equity	1.1B	1.2B	1.4B	1.4B	1.3B	1.7B	2.2B	2.4B	2.6B	2.2B
Total debt	1.4B	1.2B	1.6B	1.6B	1.6B	2.6B	2.6B	2.6B	2.4B	1.5B
Net debt	1.2B	1B	1.5B	1.4B	1.4B	2.3B	1.9B	1.9B	1.6B	995M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	765.4M	813M	908.1M	971.7M	866.2M	766.4M	818.8M	510.7M	558.5M	594.2M	653.7M	431.5M
Receivables	40.7M	50.7M	60.6M	65.7M	61.8M	45.5M	39M	5.2M	10.5M	11.6M	14.4M	16.1M
Inventory	66.6M	61.3M	65.6M	54.2M	61.5M	57.7M	56.1M	14.1M	14.7M	14.1M	14.2M	15.9M
Total current assets	1.1B	1.1B	1.3B	1.3B	1.2B	1B	1.1B	618.9M	663.8M	690.7M	769.1M	598.1M
Property, plant & equipment	-1.2B	-1.2B	-1.2B	-1.3B	-1.3B	-1.4B	297.1M	-1.4B	—	-1.4B	-1.5B	-1.5B
Goodwill & intangibles	638K	538K	440K	342K	244K	148K	62K	14K	0	0	—	—
Total assets	5.3B	5.3B	5.4B	5.4B	5.2B	5.1B	5.1B	3.7B	3.9B	3.9B	3.9B	4B
Accounts payable	48.8M	46.8M	60.6M	61.3M	65.9M	49.4M	42.7M	10.6M	8.3M	11.3M	14.3M	26.4M
Short-term debt	517.4M	510.7M	502.3M	515.8M	522.2M	546.9M	550.2M	282.2M	272.1M	268.1M	254.3M	231.7M
Total current liabilities	672.9M	662.8M	655.9M	797.2M	704.6M	745.6M	724.9M	369.2M	394.6M	398.6M	392.2M	371.7M
Long-term debt	2.2B	2.1B	2.1B	2B	2B	1.8B	1.7B	1.3B	1.3B	1.2B	1.2B	1.3B
Total liabilities	3B	2.8B	2.8B	2.9B	2.7B	2.6B	2.5B	1.7B	1.8B	1.7B	1.7B	1.7B
Shareholders' equity	2.4B	2.4B	2.5B	2.5B	2.5B	2.6B	2.6B	2B	2.1B	2.2B	2.2B	2.3B
Total debt	2.8B	2.6B	2.6B	2.5B	2.5B	2.4B	2.3B	1.6B	1.6B	1.5B	1.5B	1.5B
Net debt	2B	1.9B	1.8B	1.6B	1.7B	1.6B	1.5B	1.1B	1.1B	995M	919M	1.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	81.7M	72.9M	67.2M	99M	8.9M	435.1M	554.7M	381M	316.3M	396.5M
Depreciation & amortization	100.9M	96.4M	96.3M	113.7M	108.9M	136.5M	166.2M	166.1M	163.6M	129.7M
Stock-based compensation	5M	3.9M	3.8M	3.9M	3.7M	7.4M	7.1M	5.8M	8.4M	7M
Change in working capital	-18.1M	-18.8M	-45.1M	-1.8M	17.8M	-33.1M	-63.8M	-67.5M	-28.8M	-7.5M
Operating cash flow	190.2M	171.9M	139.8M	227.3M	151M	561.8M	686.7M	510.6M	491.1M	544.3M
Capital expenditure	837K	-37.3M	-129.4M	-40.7M	-71.6M	-869.5M	158.4M	-39.3M	-90.8M	—
Investing cash flow	-28.4M	-43.4M	-112.6M	-8.9M	-36.4M	-787.5M	42.5M	79.1M	-79.5M	91K
Dividends paid	-75M	-37.8M	-49.1M	-58.7M	-65.5M	-71.3M	-119.5M	-71.9M	-74.1M	-79.3M
Share repurchases	—	—	0	0	-1.7M	0	-60.1M	-60M	-114.4M	0
Financing cash flow	-144.4M	-140M	-80.5M	-212.2M	-241.9M	482.6M	-166.1M	-396.8M	-505.5M	-507.6M
Net change in cash	17.4M	-11.5M	-53.4M	6.3M	-127.3M	257M	563.1M	192.9M	-93.8M	36.8M
Free cash flow	217.8M	127.5M	-2.2M	188.4M	172.4M	-525.6M	519.7M	49M	257.2M	242.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	60.1M	104.7M	102.7M	102.9M	78.9M	31.9M	100.8M	117.2M	99.4M	79.2M	81.9M	83.9M
Depreciation & amortization	42M	41.7M	40.5M	40.4M	41.2M	41.4M	41.7M	21.8M	32.7M	33.5M	32.8M	32.6M
Stock-based compensation	1.4M	1.6M	1.7M	2.5M	2.4M	1.9M	1.5M	1.4M	1.8M	2.4M	2.5M	2.1M
Change in working capital	-6M	14.6M	10.9M	-9.3M	-11M	-19.4M	7.5M	-5.2M	-5.8M	-4M	-7.1M	-17.4M
Operating cash flow	104.4M	166.4M	163M	143.6M	119.2M	65.4M	158.8M	139.1M	135.6M	118.1M	112.4M	101.8M
Capital expenditure	-151M	-20.6M	33.5M	-53.1M	1.1M	-72.3M	1.7M	-109.7M	—	—	—	—
Investing cash flow	-1.6M	-33.3M	34.6M	-52.5M	9.1M	-70.7M	1.5M	-109.3M	19M	-19.1M	-256K	-340K
Dividends paid	-17.8M	-17.7M	-17.8M	-17.8M	-18.8M	-19.7M	-20M	-19.7M	-19.7M	-19.8M	-21.5M	-19.9M
Share repurchases	-28.8M	0	—	—	-114.4M	0	—	—	—	0	—	—
Financing cash flow	-42.8M	-117.2M	-28M	-90.5M	-229.7M	-157M	-54.4M	-335.3M	-27.1M	-90.7M	-43.1M	-10.6M
Net change in cash	60M	15.8M	169.6M	606K	-101.4M	-162.3M	105.8M	-305.6M	127.5M	8.3M	69.1M	90.9M
Free cash flow	74.8M	76M	93.7M	74.5M	64.9M	24.1M	137.3M	7.8M	30.9M	66.2M	25.5M	-255.9M

Costamare Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement