Costamare Inc. Common Stock $0.0001 par value (CMRE)

FairStock Score: 76/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Costamare as a Graham-style asset and earnings proposition, not a growth story. It owns 79 containerships and 38 dry bulk vessels, chartered to liner companies and bulk customers. That fleet scale and long-term charter book help, but shipping is a commodity business; I see modest competitive advantage at best. The valuation is undemanding: at the 2026-10-13 close of $15.44, FairStock calculates a P/E of 5.83, P/B of 0.84, EV/EBITDA of 5.65, and a Graham Number of $33.09, implying a 53.34% margin of safety. In the second quarter of 2026, revenue was $209.2M and net income $82.6M, a 39.51% net margin. Yet the provided growth figures are negative—revenue -4.00% and profit -6.82%—and trailing free cash flow was -$133.3M, a -6.7% FCF yield. ROE is 15.97%, but ROCE of 6.69% tells me the capital-intensive fleet earns only moderate returns. Debt/equity of 0.66 is manageable but not trivial in a downturn. The Piotroski F-Score is 5/9 and Altman Z-Score is 1.24, which warns that the balance sheet deserves scrutiny. A 3.23% dividend yield is attractive if cash flow recovers. FairStock score 76/100 and beta 0.91 suggest a reasonably steady profile. The stock is statistically cheap, but cheap cyclicals can stay cheap or become value traps. I would want evidence of charter renewal strength, positive free cash flow, and stable asset values before calling the margin of safety durable.

In plain English: Costamare owns and rents out container and dry bulk ships. The business is profitable, with a strong latest quarter, but it is a cyclical shipping company and recent cash flow is negative. The stock looks cheap compared with its assets and earnings, but cheap can be risky in a boom-and-bust industry.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer