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Owner of a large fleet of containerships chartered to major liner companies, with growing dry bulk operations.
Owner of a large fleet of containerships chartered to major liner companies, with growing dry bulk operations.
Owns ships and rents them out under time charters, where the liner pays a fixed daily rate and runs the voyages, so income depends on how long contracts last and what rate they renew at. The Konstantakopoulos family, who founded the company, remain its controlling shareholders.
In one line: A containership leasing company.
Moat: narrow (scale, installed base). Large, diversified containership fleet on long-term charters with major global liner companies.
Headquarters: Monaco · Founded: 1974 · Employees: 1,880
Size Costamare (CMRE) is a United States Industrials company (Marine Shipping) with a market value of $1.54B, the 1975th largest of 3,117 United States companies the cockpit tracks. Shares closed at $12.72 on 6 Nov 2026.
Performance Over six months the shares fell 27.8%, against +0.4% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue fell 42.0% over the last twelve months (peer median +7.3%); the operating margin is 44.2% (peer median 13.5%).
Valuation It trades at 5.2× forward earnings against a peer median of 9.1× (3rd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.1 points above its cost of capital (8.0% WACC).
Short interest Short interest is 1.9% of the free float (15 Oct 2026).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $817M | $847M | $865M | $1.50B | $1.11B |
| Revenue growth | — | -2% | -42% | +35% | — |
| Gross profit | $419M | $472M | $525M | $428M | $601M |
| EBITDA | $515M | $572M | $615M | $533M | $714M |
| Net income | $335M | $365M | $320M | $386M | $555M |
| Free cash flow | n/a | $472M | $528M | $226M | $501M |
| Capital expenditure | $0 | $69.0M | $8.22M | $83.5M | $61.9M |
| Total debt | $1.81B | $1.51B | $1.72B | $2.65B | $2.58B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Costamare CMRE | $1.54B | -28% | -42% | 44% | 5.2× | -6.9% |
| Danaos DAC | $2.70B | +10% | +2% | 48% | 5.3× | -8.7% |
| Global Ship Lease GSL | $1.41B | -8% | +6% | 48% | 4.1× | -15.2% |
| Navios Maritime Partners LP NMM | $2.42B | +14% | +19% | 39% | 3.9× | n/a |
| SFL SFL | $1.65B | -9% | -4% | 28% | 11.2× | 5.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CMRE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.8% | -4.9% | 3rd lowest of 21 |
| 6-month return | -27.8% | +0.4% | lowest of 20 |
| Distance from 52-week high | -29.6% | -14.9% | 3rd lowest of 21 |
| Revenue growth (TTM) | -42.0% | +7.3% | lowest of 20 |
| Operating margin | 44.2% | 13.5% | 5th highest of 20 |
| Forward P/E | 5.2× | 9.1× | 3rd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -6.9% | -2.5% | 3rd least demanding of 14 |
| Growth delivered (Del g) | +13.0% | +12.0% | 6th highest of 14 |
| Hurdle (Req g minus delivered) | -19.9 pp | -14.0 pp | 4th least demanding of 14 |
| ROIC minus cost of capital | +0.1 pp | +1.9 pp | 8th lowest of 19 |
| EV / EBITDA | 5.3× | 7.0× | 7th cheapest of 17 |
| Net debt / EBITDA | 2.2× | 1.4× | 6th most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Costamare CMRE | United States | $1.54B | -28% | -42% | 44% | 5.2× | -6.9% | +13.0% |
| MITSUI-SOKO 9302.T | Japan | $1.52B | -22% | +6% | 7% | 17.8× | -1.6% | +3.4% |
| NS United Kaiun Kaisha,Ltd 9110.T | Japan | $1.58B | +39% | +11% | 11% | n/a | -5.0% | +10.7% |
| Ningbo Ocean Shipping 601022.SS | China | $1.58B | -7% | +13% | 11% | n/a | n/a | n/a |
| Dampskibsselskabet NORDEN A/S DNORD.CO | Denmark | $1.46B | +15% | +7% | 3% | 9.6× | n/a | n/a |
| Global Ship Lease GSL | United States | $1.41B | -8% | +6% | 48% | 4.1× | -15.2% | +22.1% |
| U-Ming Marine Transport 2606.TW | Taiwan | $1.70B | +6% | +13% | 29% | 8.7× | -3.8% | +12.8% |
| Solstad Maritime SOMA.OL | Norway | $1.36B | -6% | +17% | 40% | 5.5× | -2.5% | +22.7% |
| Dfds A/s DFDS.CO | Denmark | $1.33B | +8% | +3% | 3% | 17.0× | 4.6% | +17.2% |
| Stolt-Nielsen SNI.OL | Norway | $1.82B | +4% | -5% | 11% | 8.8× | -4.5% | +9.5% |
| CSSC (Hong Kong) Shipping 3877.HK | Hong Kong | $1.85B | -4% | -10% | 60% | 7.2× | -3.2% | +14.9% |
| Sumitomo Warehouse 9303.T | Japan | $1.87B | +4% | +2% | 6% | 16.3× | 11.3% | +0.4% |
| Rizhao Port 600017.SS | China | $1.26B | -7% | +3% | 13% | 17.1× | n/a | n/a |
| MPC Container Ships MPCC.OL | Norway | $1.26B | 0% | -15% | 37% | 7.8× | -13.3% | +27.1% |
| Clarkson CKN.L | United Kingdom | $1.90B | -5% | +15% | 14% | 13.9× | 5.2% | +12.0% |
| Capital Clean Energy Carriers CCEC | United States | $1.24B | +3% | +5% | 50% | 8.1× | n/a | n/a |
| PanOcean 028670.KS | South Korea | $1.91B | -12% | +24% | 9% | 5.0× | n/a | n/a |
| Volare Shipping VLCC.OL | Norway | $1.17B | n/a | n/a | n/a | n/a | n/a | n/a |
| Genco Shipping & Trading GNK | United States | $1.13B | 0% | +26% | 17% | 10.2× | n/a | n/a |
| Wisdom Marine Lines 2637.TW | Taiwan | $2.13B | +28% | +10% | 33% | 9.1× | -1.8% | +7.2% |
| 2020 Bulkers 2020.OL | Norway | $1.10B | +20% | +256% | 92% | 170.2× | 9.2% | +7.3% |