Costamare Inc.
Find Ratings ReportsCOSTAMARE INC's gross profit margin for the third quarter of its fiscal year 2020 has decreased when compared to the same period a year ago. Sales and net income have dropped, underperforming the average competitor within its subsector. COSTAMARE INC has weak liquidity. Currently, the Quick Ratio is 0.67 which shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.
During the same period, stockholders' equity ("net worth") has remained virtually unchanged only decreasing by 3.69% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.
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| Income Statement | Q3 FY20 | Q3 FY19 |
|---|---|---|
| Net Sales ($mil) | 107.9 | 123.63 |
| EBITDA ($mil) | 63.48 | 82.14 |
| EBIT ($mil) | 37.6 | 56.82 |
| Net Income ($mil) | 25.25 | 35.98 |
| Balance Sheet | Q3 FY20 | Q3 FY19 |
|---|---|---|
| Cash & Equiv. ($mil) | 144.03 | 162.76 |
| Total Assets ($mil) | 3029.64 | 3016.46 |
| Total Debt ($mil) | 1616.41 | 1588.06 |
| Equity ($mil) | 1336.61 | 1387.84 |
| Profitability | Q3 FY20 | Q3 FY19 |
|---|---|---|
| Gross Profit Margin | 66.2 | 72.67 |
| EBITDA Margin | 58.82 | 66.43 |
| Operating Margin | 34.84 | 45.96 |
| Sales Turnover | 0.15 | 0.15 |
| Return on Assets | 0.58 | 2.74 |
| Return on Equity | -1.01 | 3.72 |
| Debt | Q3 FY20 | Q3 FY19 |
|---|---|---|
| Current Ratio | 0.79 | 0.81 |
| Debt/Capital | 0.55 | 0.53 |
| Interest Expense | 16.97 | 23.81 |
| Interest Coverage | 2.22 | 2.39 |
| Share Data | Q3 FY20 | Q3 FY19 |
|---|---|---|
| Shares outstanding (mil) | 121.49 | 118.33 |
| Div / share | 0.1 | 0.1 |
| EPS | 0.14 | 0.24 |
| Book value / share | 11.0 | 11.73 |
| Institutional Own % | n/a | n/a |
| Avg Daily Volume | 621636.0 | 708639.0 |
HOLD. This stock’s P/E ratio is negative, making its value useless in the assessment of premium or discount valuation, only displaying that the company has negative earnings per share. Conducting a second comparison, its price-to-book ratio of 0.84 indicates a significant discount versus the S&P 500 average of 4.02 and a discount versus the subsector average of 1.21. The price-to-sales ratio is below the S&P 500 average, but well above the subsector average. The valuation analysis reveals that, COSTAMARE INC seems to be trading at a premium to investment alternatives.
| Price/Earnings |
|
Price/Cash Flow |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CMRE NM | Peers 47.66 | CMRE 3.99 | Peers 14.82 | |||||||||||||||||||||
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Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings. CMRE's P/E is negative making this valuation measure meaningless. |
Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures. CMRE is trading at a significant discount to its peers. |
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| Price/Projected Earnings |
|
Price to Earnings/Growth |
|
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| CMRE 8.60 | Peers 29.87 | CMRE NA | Peers 0.18 | |||||||||||||||||||||
|
Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations. CMRE is trading at a significant discount to its peers. |
Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. Ratio not available. |
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| Price/Book |
|
Earnings Growth |
|
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| CMRE 0.84 | Peers 1.21 | CMRE -124.44 | Peers -248.49 | |||||||||||||||||||||
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Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. CMRE is trading at a significant discount to its peers. |
Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. CMRE is expected to have an earnings growth rate that significantly exceeds its peers. |
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| Price/Sales |
|
Sales Growth |
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| CMRE 2.42 | Peers 1.42 | CMRE 1.27 | Peers -0.24 | |||||||||||||||||||||
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Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. CMRE is trading at a significant premium to its subsector. |
Higher. A sales growth rate that exceeds the subsector implies that a company is gaining market share. CMRE has a sales growth rate that significantly exceeds its peers. |
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