Fact based stock research
Costamare (NYSE:CMRE)

MHY1771G1026

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Costamare stock research in summary

costamare.com

ANALYSIS: With an Obermatt Combined Rank of 59 (better than 59% compared with investment alternatives), Costamare (Marine, Monaco) shares have above-average financial characteristics compared with similar stocks. Shares of Costamare are a good value (attractively priced) with a consolidated Value Rank of 51 (better than 51% of alternatives), show above-average growth (Growth Rank of 51), and are safely financed (Safety Rank of 59), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 59, is a buy recommendation based on Costamare's financial characteristics. As the company Costamare's key financial metrics all exhibit excellent performance, such as good value (Obermatt Value Rank of 51), above-average growth (Obermatt Growth Rank of 51), and indicate that the company is safely financed (Obermatt Safety Rank of 59), it is a solid stock investment where the risk of paying too much for the share is limited, unless the company has a bleak future. Such good financial performance can indicate that the company's future might actually be challenging, as it may be difficult to maintain the good performance. If they are safely financed and have been growing above average, and are still a good value, it means that the market is keeping prices low, for a reason which may become clearer over time. We recommend evaluating the future of Costamare. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	51
Growth Rank	51
Safety Rank	59
Combined Rank	59

Country	Monaco
Industry	Marine
Index
Size class	Large

19-Dec-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Costamare

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	89	65	76	51
GROWTH
GROWTH	92	95	10	51
SAFETY
SAFETY	31	49	59	59
SENTIMENT
SENTIMENT	n/a	89	30	^new
360° VIEW
360° VIEW	n/a	89	30	^new

Most recent update of the stock research: 19-Dec-2024. Financial reporting date used for calculating ranks: 30-Sep-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Costamare is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	89	65	76	51
GROWTH
GROWTH	92	95	10	51
SAFETY
SAFETY	31	49	59	59
COMBINED
COMBINED	81	84	42	59

Last update of combined financial performance: 19-Dec-2024. Stock analysis on combined financial performance: The higher the rank of Costamare the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 51 (better than 51% compared with alternatives), Costamare shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Costamare. Price-to-Profit (also referred to as price-earnings, P/E) is 69 which means that the stock price compared with what market professionals expect for future profits is lower than for 69% of comparable companies, indicating a good value concerning Costamare's profit levels. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 68, which means that the stock price is lower as regards to invested capital than for 68% of comparable investments. On the other hand, Price-to-Sales is less favorable than for 67% of alternatives (only 33% of peers have an even less favorable ratio). The same is valid for dividend yield, which is lower than for 56% of comparable companies, making the stock more expensive compared with the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 51, is a buy recommendation based on Costamare's stock price compared with the company's operational size and dividend yields. This is a puzzling picture, because it means that profits are high while dividends are low. Since the stock price is low compared with invested capital but high concerning expected revenues, the company has more invested capital than peers for generating the same amount of revenue. Since profits are higher, it could be a "cash cow" situation (using the classic Boston Consulting Group or BCG matrix naming convention) where the company is on a downward trend, still living from the profits of past products. As the company pays low dividends, it may harbor the opinion that a turnaround is possible, and it rather invests the cash than distribute it to shareholders through dividends, thus sealing the company's fate early. Any investment optimism should only be a buy trigger once thorough research is completed. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	32	29	33	33
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	98	89	80	69
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	76	64	77	68
DIVIDEND YIELD
DIVIDEND YIELD	76	63	68	44
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	89	65	76	51

Last update of Value Rank: 19-Dec-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Costamare; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 51 (better than 51% compared with alternatives), Costamare shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Costamare. Profit Growth has a rank of 92, which means that currently professionals expect the company to grow its profits more than 92% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 85 (above 85% of alternative investments). But Sales Growth has a below the median rank of 1, which means that, currently, professionals expect the company to grow less than 99% of its competitors, and Capital Growth also has a lower rank of 7. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 51, is a buy recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for Costamare. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	89	82	19	1
PROFIT GROWTH
PROFIT GROWTH	75	81	24	92
CAPITAL GROWTH
CAPITAL GROWTH	n/a	90	39	7
STOCK RETURNS
STOCK RETURNS	94	77	46	85
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	92	95	10	51

Last update of Growth Rank: 19-Dec-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Costamare.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 59 (better than 59% compared with alternatives), the company Costamare has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of Costamare is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators where two out of three are above average for Costamare.Leverage is at 56, meaning the company has a below-average debt-to-equity ratio. It has less debt than 56% of its competitors.Refinancing is at a rank of 93, meaning that the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 93% of its competitors. Liquidity is at 20, meaning that the company generates less profit to service its debt than 80% of its competitors. This indicates that the company is on the riskier side regarding debt service. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 59 (better than 59% compared with alternatives), Costamare has a financing structure that is safer than that of its competitors. Low leverage and low refinancing risk mean a safer financing situation. However, low liquidity means that current company cash flows are low in relation to the level of debt. This is a sign of caution in case it is expected for profits to remain low. Investors should compare Obermatt’s Value, Growth, and Sentiment Ranks before deciding. They may also want to investigate why cash flows are expected to be low, making debt service for Costamare more challenging. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	16	54	40	56
REFINANCING
REFINANCING	61	45	83	93
LIQUIDITY
LIQUIDITY	41	50	39	20
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	31	49	59	59

Last update of Safety Rank: 19-Dec-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Costamare and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	88	29	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	50	50	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	85	74	^new
MARKET PULSE
MARKET PULSE	n/a	42	15	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	89	30	^new

Last update of Sentiment Rank: 19-Dec-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Costamare.
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