Costamare Inc Dossier
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SectorIndustrials IndustryMarine Shipping Beta (adjusted)0.94 Intrinsic Value $11.76median of 5 methods · middle span $11-$22based on filings through 31 Dec 2025 Market Price $15.23Price as of 1 Oct 2026 OvervaluedIntrinsic value is 23% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $1.8B Enterprise Value $2.8B Shares Outstanding 120.2M diluted Moat Rating Wide Next Earnings Date29 Oct 2026 Last ex-dividend21 Jul 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Costamare Inc. (NYSE: CMRE) presents a balanced risk-reward profile as of mid-2026. Following the completed spin-off of its dry bulk business (including Costamare Bulkers Inc. (CBI)) in May 2025, the company has focused on its core containership business. The company benefits from robust contracted revenue visibility of approximately $6.2 billion, supported by 16 newbuilding contracts backed by long-term charters. However, these positive operational drivers are offset by a premium valuation relative to peers, elevated leverage, and a contracting top line. Consequently, a Hold rating is warranted until valuation multiples compress or leverage metrics improve. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$19.00 Mean target$20.00 High · most bullish analyst$21.00 Street targets sit above today's price; our intrinsic value sits below it. Different horizons, different questions. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 18 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario The bear case is triggered by a severe global economic slowdown or rapid easing of geopolitical tensions, leading to a sharp decline in charter rates and asset values. Costamare's elevated debt burden (consolidated net debt-to-EBITDA of 5.6x) pressures earnings and free cash flow. The company faces charterer default risks or is forced to re-charter open vessels at significantly lower rates, leading to multiple compression and a potential dividend cut. Base CaseCentral scenario The base case assumes Costamare successfully operates as a focused containership owner following the completed spin-off of its dry bulk business (including CBI) in May 2025. Containership charter rates remain stable, supported by high forward-fixed capacity and the addition of 16 newbuild vessels backed by long-term charters. Revenue is supported by these new charters, and operating margins remain healthy. Valuation multiples remain stable, and the dividend is maintained or increased at current levels. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
Thesis Invalidation Triggers
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |