Costamare Inc. (CMRE) intrinsic value & 10-year financials
Costamare Inc. (CMRE) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 7.2% a year to $877.9M, with an average return on invested capital of 6.9%.
- Graham intrinsic value
- —
- Revenue (FY2025)
- $877.9M
- Revenue growth (10-yr CAGR)
- 7.2%
- ROIC (10-yr avg)
- 6.9%
- Free cash flow (FY2025)
- —
CMRE 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $877.9M | $364.6M | — | — | 52.0% | 10.4% |
| FY2024 | $2.1B | $319.9M | — | — | 22.2% | 7.9% |
| FY2023 | $1.5B | $385.7M | — | — | 31.0% | 9.5% |
| FY2022 | $1.1B | $555.0M | — | — | 59.5% | 13.8% |
| FY2021 | $793.6M | $435.1M | — | — | 55.6% | 12.9% |
| FY2020 | $460.3M | $8.9M | — | — | 13.1% | 0.3% |
| FY2019 | $478.1M | $99.0M | — | — | 36.2% | 3.5% |
| FY2018 | $380.4M | $67.2M | — | — | 30.8% | 2.8% |
| FY2017 | $412.4M | $72.9M | — | — | 33.2% | 3.8% |
| FY2016 | $468.2M | $81.7M | — | — | 35.5% | 4.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Costamare Inc. has demonstrated mature, steady growth, with revenue compounding at 7.2% annually over the past decade.
Costamare Inc. has historically struggled to out-earn its cost of capital, averaging just 6.9% ROIC.
Costamare Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Costamare Inc. is modeled at 7.2% normalized earnings growth with a 5.1% bond-yield adjustment.