Costamare Inc.
CMRE NYSE Deep Sea Foreign Transportation Of Freight Financials FY2016–FY2025
Last close · Oct 23, 2026
$14.02
0.9%
Revenue
Total sales reported in the income statement.
$878M
1.2%
vs prior year
Operating margin
Operating income as a share of revenue.
52.0%
3.2 pts
Net income
Profit after all expenses, interest and tax.
$365M
14.0%
Free cash flow
Cash from operations minus capital spending.
—
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
11.8%
0.8 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
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What Costamare Inc. does
No business description yet.
- Legal name
- Costamare Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Mar 4, 2026
- Accession · CIK
- 0001140361-26-007868
0001503584
Revenue and margins
Costamare Inc. had $878M of revenue in fiscal 2025, down 1.2% on the year before.
FY16
Revenue $468M
FY17
Revenue $412M
FY18
Revenue $380M
FY19
Revenue $478M
FY20
Revenue $460M
FY21
Revenue $794M
FY22
Revenue $1.1B
FY23
Revenue $848M
FY24
Revenue $888M
FY25
Revenue $878M
FY16
Gross —
Operating 35.5%
Net 17.5%
FCF —
FY17
Gross —
Operating 33.2%
Net 17.7%
FCF —
FY18
Gross —
Operating 30.8%
Net 17.7%
FCF —
FY19
Gross —
Operating 36.2%
Net 20.7%
FCF —
FY20
Gross —
Operating 13.1%
Net 1.9%
FCF —
FY21
Gross —
Operating 55.6%
Net 54.8%
FCF —
FY22
Gross —
Operating 59.5%
Net 49.8%
FCF —
FY23
Gross —
Operating 70.1%
Net 45.5%
FCF —
FY24
Gross —
Operating 55.1%
Net 36.0%
FCF —
FY25
Gross —
Operating 52.0%
Net 41.5%
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY16
Net income $81.7M
FY17
Net income $72.9M
FY18
Net income $67.2M
FY19
Net income $99.0M
FY20
Net income $8.9M
FY21
Net income $435M
FY22
Net income $555M
FY23
Net income $386M
FY24
Net income $320M
FY25
Net income $365M
FY16
Diluted EPS $0.79
FY17
Diluted EPS $0.52
FY18
Diluted EPS $0.33
FY19
Diluted EPS $0.59
FY20
Diluted EPS −$0.18
FY21
Diluted EPS $3.28
FY22
Diluted EPS —
FY23
Diluted EPS —
FY24
Diluted EPS —
FY25
Diluted EPS —
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital 6.7%
Return on equity 7.6%
Return on assets 3.2%
FY17
Return on capital 5.7%
Return on equity 6.4%
Return on assets 2.9%
FY18
Return on capital 3.6%
Return on equity 5.2%
Return on assets 2.4%
FY19
Return on capital 5.1%
Return on equity 7.2%
Return on assets 3.3%
FY20
Return on capital 1.8%
Return on equity 0.6%
Return on assets 0.3%
FY21
Return on capital 9.0%
Return on equity 28.3%
Return on assets 11.7%
FY22
Return on capital 13.4%
Return on equity 28.6%
Return on assets 11.9%
FY23
Return on capital 11.7%
Return on equity 17.0%
Return on assets 7.6%
FY24
Return on capital 10.9%
Return on equity 13.1%
Return on assets 6.1%
FY25
Return on capital 11.8%
Return on equity 15.9%
Return on assets 8.1%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
FY16
Free cash flow —
FY17
Free cash flow —
FY18
Free cash flow —
FY19
Free cash flow —
FY20
Free cash flow —
FY21
Free cash flow —
FY22
Free cash flow —
FY23
Free cash flow —
FY24
Free cash flow —
FY25
Free cash flow —
FY16
Cash from operations $221M
Capital spending —
FY17
Cash from operations $192M
Capital spending —
FY18
Cash from operations $141M
Capital spending —
FY19
Cash from operations $250M
Capital spending —
FY20
Cash from operations $274M
Capital spending —
FY21
Cash from operations $466M
Capital spending —
FY22
Cash from operations $582M
Capital spending —
FY23
Cash from operations $331M
Capital spending —
FY24
Cash from operations $538M
Capital spending —
FY25
Cash from operations $537M
Capital spending —
Cash from operations
Capital spending
Dividends, buybacks and share count
Costamare Inc. returned $79.3M to shareholders in fiscal 2025. The diluted share count rose 0.0%.
FY16
Dividends $75.0M
Buybacks —
FY17
Dividends $37.8M
Buybacks —
FY18
Dividends $49.1M
Buybacks —
FY19
Dividends $58.7M
Buybacks —
FY20
Dividends $65.5M
Buybacks $0.0M
FY21
Dividends $71.3M
Buybacks $0.0M
FY22
Dividends $120M
Buybacks $60.1M
FY23
Dividends $71.9M
Buybacks $60.0M
FY24
Dividends $74.1M
Buybacks $0.0M
FY25
Dividends $79.3M
Buybacks $0.0M
Dividends
Buybacks
FY16
Diluted shares 0.08B
FY17
Diluted shares 0.10B
FY18
Diluted shares 0.00B
FY19
Diluted shares 0.12B
FY20
Diluted shares 0.12B
FY21
Diluted shares 0.12B
FY22
Diluted shares —
FY23
Diluted shares —
FY24
Diluted shares —
FY25
Diluted shares —
Balance sheet
Cash, debt and the ratios that show how comfortably Costamare Inc. can carry it.
FY16
Cash $165M
Debt $1.1B
FY17
Cash $179M
Debt $851M
FY18
Cash $114M
Debt $1.6B
FY19
Cash $149M
Debt $1.6B
FY20
Cash $144M
Debt $1.6B
FY21
Cash $276M
Debt $2.6B
FY22
Cash $838M
Debt $2.6B
FY23
Cash $728M
Debt $2.4B
FY24
Cash $675M
Debt $1.7B
FY25
Cash $539M
Debt $1.5B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $276M | $838M | $728M | $675M | $539M |
| Debt incl. finance leases | $2.6B | $2.6B | $2.4B | $1.7B | $1.5B |
| Net debt / EBITDA | 3.9x | 2.1x | 2.3x | 1.7x | 1.7x |
| Debt / equity | 1.4x | 1.2x | 1.0x | 0.7x | 0.7x |
| Interest coverage | 6.1x | 6.2x | 4.7x | 4.2x | 5.1x |
| Current ratio | 1.2x | 2.4x | 1.7x | 1.4x | 1.7x |
| Quick ratio | 1.1x | 2.3x | 1.6x | 1.4x | 1.7x |
| Total assets | $4.4B | $4.9B | $5.3B | $5.1B | $3.9B |
| Total liabilities | $2.7B | $2.7B | $2.9B | $2.6B | $1.8B |
| Shareholders' equity | $1.7B | $2.2B | $2.4B | $2.5B | $2.1B |
| Net debt (− = net cash) | $2.3B | $1.7B | $1.6B | $1.0B | $976M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✕ | ✕ | ✓ | ✕ | ✓ | ✓ | ✕ | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ |
| Debt fell relative to assets | — | ✓ | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ | ✓ | ✕ |
| Current ratio rose | — | ✓ | ✕ | ✕ | ✓ | ✓ | ✓ | ✕ | ✕ | ✓ |
| Share count didn't rise | — | ✕ | ✓ | ✕ | ✕ | ✕ | — | — | — | — |
| Gross margin rose | — | — | — | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | ✕ | ✕ | ✓ | ✕ | ✓ | ✓ | ✕ | ✓ | ✓ |
| F-score | — / 3 | 5 / 8 | 4 / 8 | 5 / 8 | 4 / 8 | 6 / 8 | 7 / 7 | 3 / 7 | 5 / 7 | 6 / 7 |
| Accruals ratio | −5.4% | −4.7% | −2.7% | −5.0% | −8.8% | −0.8% | −0.6% | 1.1% | −4.2% | −3.8% |
| Altman Z'' | 1.06 | 1.30 | 1.02 | 1.23 | 0.94 | 1.69 | 3.03 | 2.83 | 2.83 | 3.26 |
10 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $468M | $412M | $380M | $478M | $460M | $794M | $1.1B | $848M | $888M | $878M |
| Operating income | $166M | $137M | $117M | $173M | $60.3M | $441M | $662M | $595M | $490M | $456M |
| Interest expense | $49.9M | $55.9M | $61.4M | $88.3M | $66.5M | $72.3M | $107M | $127M | $117M | $90.2M |
| Net income | $81.7M | $72.9M | $67.2M | $99.0M | $8.9M | $435M | $555M | $386M | $320M | $365M |
| Net income to common | $60.6M | $51.8M | $36.7M | $67.7M | −$21.6M | $404M | $524M | $355M | $291M | $344M |
| Diluted EPS | $0.79 | $0.52 | $0.33 | $0.59 | −$0.18 | $3.28 | — | — | — | — |
| Diluted shares | 0.08B | 0.10B | 0.00B | 0.12B | 0.12B | 0.12B | — | — | — | — |
| Cash flow | ||||||||||
| Cash from operations | $221M | $192M | $141M | $250M | $274M | $466M | $582M | $331M | $538M | $537M |
| Depreciation and amortization | $101M | $96.4M | $96.3M | $113M | $109M | $137M | $166M | $127M | $127M | $130M |
| Stock-based compensation | $5.0M | $3.9M | $3.8M | $3.9M | $3.7M | $7.4M | $7.1M | $5.9M | $8.4M | $7.0M |
| Acquisitions | — | — | — | — | — | $0.0M | $0.0M | −$2.8M | $0.0M | $0.0M |
| Share buybacks | — | — | — | — | $0.0M | $0.0M | $60.1M | $60.0M | $0.0M | $0.0M |
| Dividends paid | $75.0M | $37.8M | $49.1M | $58.7M | $65.5M | $71.3M | $120M | $71.9M | $74.1M | $79.3M |
| Dividends and buybacks | $75.0M | $37.8M | $49.1M | $58.7M | $65.5M | $71.3M | $180M | $132M | $74.1M | $79.3M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $165M | $179M | $114M | $149M | $144M | $276M | $838M | $728M | $675M | $539M |
| Total debt | $1.1B | $851M | $1.3B | $1.4B | $1.5B | $2.4B | $2.6B | $2.3B | $1.7B | $1.5B |
| Finance lease liabilities | — | — | $339M | $137M | $133M | $116M | $0.0M | $26.6M | $23.9M | $0.0M |
| Current assets | $210M | $227M | $171M | $197M | $192M | $426M | $1.0B | $1.1B | $1.0B | $691M |
| Current liabilities | $280M | $277M | $225M | $267M | $207M | $370M | $423M | $663M | $746M | $399M |
| Inventory | $11.4M | $9.7M | $11.0M | $10.5M | $10.5M | $21.4M | $28.0M | $61.3M | $13.2M | $14.1M |
| Property and equipment, net | $2.1B | $2.0B | $2.6B | $2.6B | — | — | $3.7B | $3.4B | $3.4B | — |
| Intangible assets | — | — | $1.2M | $1.0M | $0.8M | $0.7M | $0.5M | $0.3M | $0.1M | $0.0M |
| Total assets | $2.6B | $2.5B | $3.1B | $3.0B | $3.0B | $4.4B | $4.9B | $5.3B | $5.1B | $3.9B |
| Total liabilities | $1.5B | $1.3B | $1.7B | $1.6B | $1.7B | $2.7B | $2.7B | $2.9B | $2.6B | $1.8B |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $1.1B | $1.2B | $1.4B | $1.4B | $1.3B | $1.7B | $2.2B | $2.4B | $2.5B | $2.1B |
| Margins | ||||||||||
| Operating margin | 35.5% | 33.2% | 30.8% | 36.2% | 13.1% | 55.6% | 59.5% | 70.1% | 55.1% | 52.0% |
| EBITDA margin | 57.0% | 56.6% | 56.1% | 59.9% | 36.7% | 72.9% | 74.4% | 85.1% | 69.4% | 66.7% |
| Net margin | 17.5% | 17.7% | 17.7% | 20.7% | 1.9% | 54.8% | 49.8% | 45.5% | 36.0% | 41.5% |
| Returns | ||||||||||
| Return on capital | 6.7% | 5.7% | 3.6% | 5.1% | 1.8% | 9.0% | 13.4% | 11.7% | 10.9% | 11.8% |
| Return on capital employed | 7.3% | 6.2% | 4.1% | 6.3% | 2.2% | 10.9% | 14.8% | 12.9% | 11.1% | 13.2% |
| Return on equity | 7.6% | 6.4% | 5.2% | 7.2% | 0.6% | 28.3% | 28.6% | 17.0% | 13.1% | 15.9% |
| Return on assets | 3.2% | 2.9% | 2.4% | 3.3% | 0.3% | 11.7% | 11.9% | 7.6% | 6.1% | 8.1% |
| Return on tangible equity | 5.6% | 4.3% | 2.7% | 4.8% | −1.6% | 23.4% | 24.3% | 14.9% | 11.6% | 16.5% |
| Growth | ||||||||||
| Revenue growth | — | −11.9% | −7.8% | 25.7% | −3.7% | 72.4% | 40.3% | −23.8% | 4.7% | −1.2% |
| Net income growth | — | −10.8% | −7.7% | 47.2% | −91.0% | 4,801.7% | 27.5% | −30.5% | −17.1% | 14.0% |
| EPS growth | — | −34.2% | −36.5% | 78.8% | −130.5% | — | — | — | — | — |
| Share count change | — | 30.1% | −100.0% | — | 4.3% | 2.0% | — | — | — | — |
| Financial health | ||||||||||
| Net debt / EBITDA | 3.3x | 2.9x | 7.2x | 4.9x | 8.5x | 3.9x | 2.1x | 2.3x | 1.7x | 1.7x |
| Debt / equity | 1.0x | 0.7x | 1.0x | 1.0x | 1.1x | 1.4x | 1.2x | 1.0x | 0.7x | 0.7x |
| Interest coverage | 3.3x | 2.5x | 1.9x | 2.0x | 0.9x | 6.1x | 6.2x | 4.7x | 4.2x | 5.1x |
| Current ratio | 0.7x | 0.8x | 0.8x | 0.7x | 0.9x | 1.2x | 2.4x | 1.7x | 1.4x | 1.7x |
| Quick ratio | 0.7x | 0.8x | 0.7x | 0.7x | 0.9x | 1.1x | 2.3x | 1.6x | 1.4x | 1.7x |
| Capital allocation | ||||||||||
| Stock comp / revenue | 1.1% | 0.9% | 1.0% | 0.8% | 0.8% | 0.9% | 0.6% | 0.7% | 0.9% | 0.8% |
| Quality scores | ||||||||||
| Piotroski F-score | — | 5.0 | 4.0 | 5.0 | 4.0 | 6.0 | 7.0 | 3.0 | 5.0 | 6.0 |
| Altman Z'' | 1.1 | 1.3 | 1.0 | 1.2 | 0.9 | 1.7 | 3.0 | 2.8 | 2.8 | 3.3 |
| Accruals ratio | −5.4% | −4.7% | −2.7% | −5.0% | −8.8% | −0.8% | −0.6% | 1.1% | −4.2% | −3.8% |
Source: SEC EDGAR XBRL filings (CIK 0001503584). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.