Costamare Financials
Costamare (CMRE) reported $877.9M in revenue for fiscal year 2025, down 1.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Costamare’s recent filings show an asset-heavy cash generator using steady cash output to shrink leverage rather than expand its balance sheet.
After a dip in FY2023, operating cash flow rebounded to about$537M in both FY2024 and FY2025 even as the asset base shrank sharply in the latest year. ROA rose from6.2% to9.4% , implying the smaller balance sheet is producing more cash and earnings per dollar of assets.
FY2025 shows how much the balance-sheet reset is changing the income statement: operating margin slipped to
Across FY2021-FY2025, deleveraging mattered more than top-line expansion: long-term debt fell to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Costamare's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Costamare has an operating margin of 52.0%, meaning the company retains $52 of operating profit per $100 of revenue. This strong profitability earns a score of 95/100, reflecting efficient cost management and pricing power. This is down from 55.1% the prior year.
Costamare's revenue declined 1.2% year-over-year, from $888.5M to $877.9M. This contraction results in a growth score of 38/100.
Costamare has a moderate D/E ratio of 0.60. This balance of debt and equity financing earns a leverage score of 42/100.
Costamare's current ratio of 1.73 indicates adequate short-term liquidity, earning a score of 49/100. The company can meet its near-term obligations, though with limited headroom.
Not available for Costamare, and counted as zero in the overall score.
Costamare earns a strong 17.5% return on equity (ROE), meaning it generates $17 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 81/100. This is up from 12.7% the prior year.
Costamare scores 1.66, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Costamare passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Costamare generates $1.47 in operating cash flow ($536.9M OCF vs $364.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Costamare earns $5.06 in operating income for every $1 of interest expense ($456.2M vs $90.2M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Costamare generated $877.9M in revenue in fiscal year 2025. This represents a decrease of 1.2% from the prior year.
Costamare's EBITDA was $585.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 5.0% from the prior year.
Costamare reported $364.6M in net income in fiscal year 2025. This represents an increase of 14.0% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Costamare held $519.8M in cash against $1.2B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Costamare's operating margin was 52.0% in fiscal year 2025, reflecting core business profitability. This is down 3.2 percentage points from the prior year.
Costamare's net profit margin was 41.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 5.5 percentage points from the prior year.
Costamare's ROE was 17.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.8 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Costamare repurchased no shares in fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
CMRE Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $877.9M-1.2% | $888.5M+4.7% | $848.3M-23.8% | $1.1B+40.3% | $793.6M+72.4% | $460.3M-3.7% | $478.1M+25.7% | $380.4M-7.8% | $412.4M-11.9% | $468.2M | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $10.1M-24.1% | $13.3M+37.4% | $9.7M-0.6% | $9.7M+41.7% | $6.9M+67.5% | $4.1M+34.5% | $3.1M+4.9% | $2.9M-7.7% | $3.2M-56.7% | $7.3M+15.8% | $6.3M | N/A | N/A | N/A | N/A |
| Operating Income | $456.2M-6.8% | $489.7M-17.7% | $595.0M-10.2% | $662.2M+50.1% | $441.4M+631.6% | $60.3M-65.2% | $173.1M+47.8% | $117.2M-14.5% | $137.0M-17.5% | $166.1M-23.8% | $217.9M+1.5% | $214.7M+27.0% | $169.0M+9.1% | $154.9M-9.3% | $170.7M |
| Interest Expense | $90.2M-23.0% | $117.1M-7.7% | $126.8M+18.3% | $107.2M+48.4% | $72.3M+8.6% | $66.5M-24.6% | $88.3M+43.8% | $61.4M+9.8% | $55.9M+12.1% | $49.9M+10.7% | $45.1M-2.8% | $46.3M+40.4% | $33.0M+15.9% | $28.5M+34.2% | $21.2M |
| Net Income | $364.6M+14.0% | $319.9M-17.1% | $385.7M-30.5% | $555.0M+27.5% | $435.1M+4801.7% | $8.9M-91.0% | $99.0M+47.2% | $67.2M-7.7% | $72.9M-10.8% | $81.7M-43.2% | $143.8M+24.9% | $115.1M+11.6% | $103.1M+27.1% | $81.1M-7.4% | $87.6M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Income Tax, EPS (Diluted).
CMRE Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.9B-25.0% | $5.1B-2.6% | $5.3B+8.0% | $4.9B+11.1% | $4.4B+46.4% | $3.0B0.0% | $3.0B-1.3% | $3.1B+22.5% | $2.5B-2.7% | $2.6B-2.8% | $2.6B-3.0% | $2.7B+1.1% | $2.7B+16.2% | $2.3B+16.6% | $2.0B |
| Current Assets | $690.7M-33.6% | $1.0B-6.9% | $1.1B+10.2% | $1.0B+138.1% | $426.1M+121.9% | $192.1M-2.6% | $197.2M+15.5% | $170.8M-24.7% | $226.6M+8.0% | $209.8M+44.7% | $145.1M-8.2% | $158.0M+15.7% | $136.6M-54.5% | $299.9M+116.0% | $138.9M |
| Cash & Equivalents | $519.8M-20.9% | $656.9M-7.6% | $710.6M-1.0% | $718.0M+160.2% | $276.0M+91.8% | $143.9M-3.4% | $148.9M+31.0% | $113.7M-36.5% | $179.0M+8.5% | $164.9M+64.7% | $100.1M-11.5% | $113.1M+21.1% | $93.4M-65.1% | $267.3M+172.8% | $98.0M |
| Inventory | $14.1M+7.3% | $13.2M-78.5% | $61.3M+118.5% | $28.0M+31.2% | $21.4M+104.4% | $10.5M-0.9% | $10.5M-4.3% | $11.0M+14.1% | $9.7M-15.4% | $11.4M+7.9% | $10.6M-8.5% | $11.6M+5.1% | $11.0M+17.1% | $9.4M+0.7% | $9.3M |
| Accounts Receivable | N/A | $45.5M-10.2% | $50.7M+88.1% | $26.9M+28.4% | $21.0M+154.3% | $8.2M+11.5% | $7.4M+31.5% | $5.6M+324.8% | $1.3M+36.4% | $971K-12.6% | $1.1M-53.0% | $2.4M-85.4% | $16.1M+621.7% | $2.2M+4.0% | $2.1M |
| Total Liabilities | $1.8B-32.6% | $2.6B-9.3% | $2.9B+6.0% | $2.7B+2.2% | $2.7B+61.3% | $1.7B+3.8% | $1.6B-5.5% | $1.7B+33.2% | $1.3B-14.3% | $1.5B-11.1% | $1.7B-12.7% | $1.9B-5.8% | $2.0B+13.3% | $1.8B+8.4% | $1.7B |
| Current Liabilities | $398.6M-46.5% | $745.6M+12.5% | $662.8M+56.6% | $423.1M+14.3% | $370.0M+78.8% | $207.0M-22.3% | $266.5M+18.6% | $224.7M-18.8% | $276.7M-1.2% | $280.0M+3.6% | $270.3M-6.9% | $290.4M-1.6% | $295.0M+18.3% | $249.4M+10.1% | $226.6M |
| Long-Term Debt | $1.2B-11.6% | $1.4B-29.4% | $2.0B-11.7% | $2.3B+4.4% | $2.2B+66.3% | $1.3B+8.2% | $1.2B+4.1% | $1.2B+79.8% | $644.7M-24.7% | $856.3M-24.5% | $1.1B-14.5% | $1.3B-20.1% | $1.7B+18.7% | $1.4B+8.5% | $1.3B |
| Total Equity | $2.1B-17.0% | $2.5B+5.5% | $2.4B+10.5% | $2.2B+25.0% | $1.7B+28.0% | $1.3B-4.4% | $1.4B+3.9% | $1.4B+11.4% | $1.2B+13.4% | $1.1B+11.5% | $963.5M+20.0% | $802.6M+22.2% | $656.9M+26.2% | $520.5M+57.7% | $330.0M |
| Retained Earnings | $868.7M-32.1% | $1.3B+22.3% | $1.0B+40.1% | $746.7M+118.7% | $341.5M+3612.8% | -$9.7M-116.0% | $60.6M+56.4% | $38.7M-11.4% | $43.7M+39.2% | $31.4M-29.0% | $44.2M+42858.3% | $103K+100.5% | -$20.0M+50.9% | -$40.8M+16.5% | -$48.9M |
Not reported in any period shown, so not listed: Goodwill.
CMRE Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $536.9M-0.2% | $537.7M+62.3% | $331.4M-43.0% | $581.6M+24.7% | $466.5M+70.1% | $274.3M+9.5% | $250.4M+77.9% | $140.8M-26.6% | $191.8M-13.1% | $220.6M-9.8% | $244.7M+0.6% | $243.3M+30.3% | $186.7M+11.0% | $168.1M-13.9% | $195.2M |
| Investing Cash Flow | N/A | -$79.5M-200.5% | $79.1M+86.2% | $42.5M+105.4% | -$787.5M-2063.5% | -$36.4M-310.9% | -$8.9M+92.1% | -$112.6M-159.3% | -$43.4M-53.0% | -$28.4M+33.9% | -$43.0M+64.0% | -$119.3M+80.8% | -$621.1M-162.6% | -$236.5M+16.7% | -$283.8M |
| Financing Cash Flow | N/A | -$505.5M-27.4% | -$396.8M-139.0% | -$166.1M-134.4% | $482.6M+299.5% | -$241.9M-14.0% | -$212.2M-163.4% | -$80.5M+42.5% | -$140.0M+3.1% | -$144.4M+32.7% | -$214.7M-105.8% | -$104.3M-140.0% | $260.4M+9.6% | $237.7M+787.0% | $26.8M |
| Dividends Paid | $79.3M+6.9% | $74.1M+3.2% | $71.9M-39.9% | $119.5M+67.8% | $71.3M+8.8% | $65.5M+11.6% | $58.7M+19.4% | $49.1M+30.2% | $37.8M-49.7% | $75.0M-26.7% | $102.3M+9.9% | $93.1M+14.2% | $81.5M+11.5% | $73.1M+18.8% | $61.5M |
| Share Buybacks | $0 | $0-100.0% | $60.0M-0.2% | $60.1M | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
CMRE Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 52.0%-3.2pp | 55.1%-15.0pp | 70.1%+10.7pp | 59.5%+3.8pp | 55.6%+42.5pp | 13.1%-23.1pp | 36.2%+5.4pp | 30.8%-2.4pp | 33.2%-2.3pp | 35.5% | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 41.5%+5.5pp | 36.0%-9.5pp | 45.5%-4.3pp | 49.8%-5.0pp | 54.8%+52.9pp | 1.9%-18.8pp | 20.7%+3.0pp | 17.7%0.0pp | 17.7%+0.2pp | 17.4% | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | 17.5%+4.8pp | 12.7%-3.5pp | 16.2%-9.5pp | 25.7%+0.5pp | 25.2%+24.6pp | 0.7%-6.4pp | 7.0%+2.1pp | 5.0%-1.0pp | 6.0%-1.6pp | 7.6%-7.3pp | 14.9%+0.6pp | 14.3%-1.4pp | 15.7%+0.1pp | 15.6%-11.0pp | 26.5% |
| Return on Assets | 9.4%+3.2pp | 6.2%-1.1pp | 7.3%-4.0pp | 11.3%+1.5pp | 9.9%+9.6pp | 0.3%-3.0pp | 3.3%+1.1pp | 2.2%-0.7pp | 2.9%-0.3pp | 3.2%-2.3pp | 5.5%+1.2pp | 4.2%+0.4pp | 3.8%+0.3pp | 3.5%-0.9pp | 4.4% |
| Current Ratio | 1.73+0.3x | 1.40-0.3x | 1.69-0.7x | 2.40+1.2x | 1.15+0.2x | 0.93+0.2x | 0.740.0x | 0.76-0.1x | 0.82+0.1x | 0.75+0.2x | 0.540.0x | 0.54+0.1x | 0.46-0.7x | 1.20+0.6x | 0.61 |
| Debt-to-Equity | 0.600.0x | 0.56-0.3x | 0.84-0.2x | 1.05-0.2x | 1.26+0.3x | 0.97+0.1x | 0.860.0x | 0.85+0.3x | 0.53-0.3x | 0.80-0.4x | 1.18-0.5x | 1.65-0.9x | 2.53-0.2x | 2.69-1.2x | 3.91 |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
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Where Costamare Ranks
Frequently Asked Questions
What is Costamare's annual revenue?
Costamare (CMRE) reported $877.9M in total revenue for fiscal year 2025. This represents a -1.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Costamare's revenue growing?
Costamare (CMRE) revenue declined by 1.2% year-over-year, from $888.5M to $877.9M in fiscal year 2025.
Is Costamare profitable?
Yes, Costamare (CMRE) reported a net income of $364.6M in fiscal year 2025, with a net profit margin of 41.5%.
What is Costamare's EBITDA?
Costamare (CMRE) had EBITDA of $585.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Costamare have?
As of fiscal year 2025, Costamare (CMRE) had $519.8M in cash and equivalents against $1.2B in long-term debt.
What is Costamare's operating margin?
Costamare (CMRE) had an operating margin of 52.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Costamare's net profit margin?
Costamare (CMRE) had a net profit margin of 41.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Costamare's return on equity (ROE)?
Costamare (CMRE) has a return on equity of 17.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Costamare's operating cash flow?
Costamare (CMRE) generated $536.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Costamare's total assets?
Costamare (CMRE) had $3.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Costamare's current ratio?
Costamare (CMRE) had a current ratio of 1.73 as of fiscal year 2025, which is generally considered healthy.
What is Costamare's debt-to-equity ratio?
Costamare (CMRE) had a debt-to-equity ratio of 0.60 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Costamare's return on assets (ROA)?
Costamare (CMRE) had a return on assets of 9.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Costamare's Altman Z-Score?
Costamare (CMRE) has an Altman Z-Score of 1.66, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Costamare's Piotroski F-Score?
Costamare (CMRE) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Costamare's earnings high quality?
Costamare (CMRE) has an earnings quality ratio of 1.47x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Costamare cover its interest payments?
Costamare (CMRE) has an interest coverage ratio of 5.06x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Costamare?
Costamare (CMRE) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.