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Costamare

DB:LCM
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LCM
DB
$775M
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

Costamare Inc. owns and charters containerships to liner companies worldwide. The last earnings update was 68 days ago. More info.


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LCM Share Price and Events
7 Day Returns
9.3%
DB:LCM
4.1%
Europe Shipping
2.8%
DE Market
1 Year Returns
15.8%
DB:LCM
6.2%
Europe Shipping
3%
DE Market
LCM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Costamare (LCM) 9.3% 2.4% 20.4% 15.8% -12.3% -60.2%
Europe Shipping 4.1% -1.6% 9.8% 6.2% 6.6% -14.5%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • LCM outperformed the Shipping industry which returned 6.2% over the past year.
  • LCM outperformed the Market in Germany which returned 3% over the past year.
Price Volatility
LCM
Industry
5yr Volatility vs Market

Value

 Is Costamare undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Costamare to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Costamare.

DB:LCM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:LCM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Shipping Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.733 (1 + (1- 33%) (221.35%))
1.55
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.55
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.55 * 5.96%)
9.46%

Discounted Cash Flow Calculation for DB:LCM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Costamare is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:LCM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.46%)
2020 22.31 Analyst x1 20.38
2021 126.83 Analyst x1 105.85
2022 115.21 Est @ -9.17% 87.83
2023 107.89 Est @ -6.35% 75.15
2024 103.17 Est @ -4.38% 65.65
2025 100.08 Est @ -2.99% 58.17
2026 98.05 Est @ -2.03% 52.07
2027 96.73 Est @ -1.35% 46.92
2028 95.88 Est @ -0.88% 42.49
2029 95.36 Est @ -0.55% 38.60
Present value of next 10 years cash flows $593.00
DB:LCM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $95.36 × (1 + 0.23%) ÷ (9.46% – 0.23%)
$1,034.80
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,034.80 ÷ (1 + 9.46%)10
$418.93
DB:LCM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $593.00 + $418.93
$1,011.93
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,011.93 / 117.38
$8.62
DB:LCM Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:LCM represents 0.88636x of NYSE:CMRE
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88636x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 8.62 x 0.88636
€7.64
Value per share (EUR) From above. €7.64
Current discount Discount to share price of €5.85
= -1 x (€5.85 - €7.64) / €7.64
23.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Costamare is available for.
Intrinsic value
23%
Share price is €5.85 vs Future cash flow value of €7.64
Current Discount Checks
For Costamare to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Costamare's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Costamare's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Costamare's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Costamare's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:LCM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $0.26
NYSE:CMRE Share Price ** NYSE (2019-10-11) in USD $6.6
Europe Shipping Industry PE Ratio Median Figure of 26 Publicly-Listed Shipping Companies 11.43x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Costamare.

DB:LCM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CMRE Share Price ÷ EPS (both in USD)

= 6.6 ÷ 0.26

25.05x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Costamare is overvalued based on earnings compared to the Europe Shipping industry average.
  • Costamare is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Costamare's expected growth come at a high price?
Raw Data
DB:LCM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
15%per year
Europe Shipping Industry PEG Ratio Median Figure of 14 Publicly-Listed Shipping Companies 0.79x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Costamare, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Costamare's assets?
Raw Data
DB:LCM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $11.80
NYSE:CMRE Share Price * NYSE (2019-10-11) in USD $6.6
Europe Shipping Industry PB Ratio Median Figure of 43 Publicly-Listed Shipping Companies 0.76x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:LCM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CMRE Share Price ÷ Book Value per Share (both in USD)

= 6.6 ÷ 11.80

0.56x

* Primary Listing of Costamare.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Costamare is good value based on assets compared to the Europe Shipping industry average.
X
Value checks
We assess Costamare's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Shipping industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Shipping industry average (and greater than 0)? (1 check)
  5. Costamare has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Costamare expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

  • No analysts cover Costamare, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
15%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Costamare expected to grow at an attractive rate?
  • Costamare's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Costamare's earnings growth is expected to exceed the Germany market average.
  • Costamare's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:LCM Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:LCM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 15%
DB:LCM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 5.8%
Europe Shipping Industry Earnings Growth Rate Market Cap Weighted Average 23.5%
Europe Shipping Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:LCM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:LCM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 500 1
2020-12-31 472 1
2019-12-31 455 1
2019-10-13
DB:LCM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 427 181 30
2019-03-31 401 147 15
2018-12-31 380 141 37
2018-09-30 375 151 22
2018-06-30 385 160 35
2018-03-31 400 181 46
2017-12-31 412 192 52
2017-09-30 422 202 38
2017-06-30 439 205 35
2017-03-31 453 222 49
2016-12-31 468 221 61
2016-09-30 480 235 110

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Costamare's earnings are expected to grow by 15% yearly, however this is not considered high growth (20% yearly).
  • Costamare's revenue is expected to grow by 5.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:LCM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Costamare Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:LCM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
2019-10-13
DB:LCM Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 0.26
2019-03-31 0.14
2018-12-31 0.33
2018-09-30 0.20
2018-06-30 0.32
2018-03-31 0.44
2017-12-31 0.52
2017-09-30 0.41
2017-06-30 0.40
2017-03-31 0.60
2016-12-31 0.79
2016-09-30 1.45

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Costamare will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Costamare's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Costamare has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Costamare performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Costamare's growth in the last year to its industry (Shipping).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Costamare's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Costamare's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Costamare's 1-year earnings growth is negative, it can't be compared to the Europe Shipping industry average.
Earnings and Revenue History
Costamare's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Costamare Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:LCM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 427.08 29.64 29.26
2019-03-31 400.62 15.15 29.16
2018-12-31 380.40 36.74 28.70
2018-09-30 374.86 22.23 28.26
2018-06-30 385.22 34.91 28.40
2018-03-31 399.66 46.24 28.44
2017-12-31 412.43 51.81 28.21
2017-09-30 421.95 38.14 32.16
2017-06-30 438.93 34.66 32.43
2017-03-31 453.44 48.72 32.89
2016-12-31 468.19 60.64 33.35
2016-09-30 480.33 109.98 33.25
2016-06-30 486.11 124.13 33.70
2016-03-31 489.80 132.38 34.86
2015-12-31 490.38 125.86 36.28
2015-09-30 488.97 120.52 33.36
2015-06-30 489.66 124.98 32.18
2015-03-31 489.95 109.23 29.38
2014-12-31 484.00 103.18 26.18
2014-09-30 475.68 101.36 28.22
2014-06-30 461.09 87.75 26.61
2014-03-31 437.61 94.04 25.81
2013-12-31 414.25 101.55 25.10
2013-09-30 396.89 98.58 20.30
2013-06-30 381.65 90.74 19.78
2013-03-31 377.66 81.33 19.40
2012-12-31 386.16 81.13 19.22

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Costamare has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Costamare used its assets less efficiently than the Europe Shipping industry average last year based on Return on Assets.
  • Costamare's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Costamare's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Shipping industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Costamare has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Costamare's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Costamare's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Costamare's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Costamare's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Costamare's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Costamare Company Filings, last reported 3 months ago.

DB:LCM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,351.02 1,392.50 99.61
2019-03-31 1,339.56 1,259.05 107.06
2018-12-31 1,357.12 1,308.41 117.23
2018-09-30 1,353.83 774.65 121.43
2018-06-30 1,350.96 718.38 127.31
2018-03-31 1,346.61 756.88 215.32
2017-12-31 1,218.54 851.96 178.99
2017-09-30 1,219.94 890.37 192.47
2017-06-30 1,201.61 943.18 195.02
2017-03-31 1,093.56 995.94 140.56
2016-12-31 1,074.42 1,069.92 164.90
2016-09-30 1,007.79 1,137.71 106.72
2016-06-30 980.98 1,319.30 99.74
2016-03-31 967.60 1,325.52 81.20
2015-12-31 963.51 1,370.71 100.11
2015-09-30 933.54 1,438.72 134.61
2015-06-30 927.52 1,486.84 159.94
2015-03-31 808.36 1,543.29 84.25
2014-12-31 802.64 1,519.94 113.09
2014-09-30 800.69 1,566.81 138.57
2014-06-30 772.73 1,711.34 147.80
2014-03-31 765.84 1,809.07 183.62
2013-12-31 656.95 1,970.79 93.38
2013-09-30 639.92 1,933.99 120.37
2013-06-30 590.86 1,857.49 112.40
2013-03-31 536.27 1,778.81 182.88
2012-12-31 520.45 1,742.70 267.32
  • Costamare's level of debt (103.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (221.2% vs 103.1% today).
  • Debt is not well covered by operating cash flow (13%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Costamare's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Costamare has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Costamare's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.06%
Current annual income from Costamare dividends. Estimated to be 6.06% next year.
If you bought €2,000 of Costamare shares you are expected to receive €121 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Costamare's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Costamare's dividend is above the markets top 25% of dividend payers in Germany (3.86%).
Upcoming dividend payment

Purchase Costamare before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:LCM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Europe Shipping Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 2.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:LCM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.40 1.00
2020-12-31 0.40 2.00
2019-12-31 0.40 2.00
2019-10-13
DB:LCM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-10-02 0.400 6.466
2019-07-01 0.400 6.955
2019-04-01 0.400 7.323
2019-01-03 0.400 7.934
2018-10-01 0.400 7.665
2018-07-02 0.400 5.643
2018-04-02 0.400 5.497
2018-01-02 0.400 6.353
2017-10-02 0.400 6.757
2017-07-03 0.400 6.209
2017-04-03 0.400 5.736
2017-01-03 0.400 6.602
2016-07-06 1.160 15.379
2016-04-01 1.160 12.477
2016-01-04 1.160 15.047
2015-10-01 1.160 9.670
2015-07-02 1.160 7.471
2015-04-01 1.160 5.999
2015-03-05 1.160 6.289
2015-02-04 1.160 6.075
2015-01-06 1.120 6.670
2014-10-07 1.120 5.797
2014-07-08 1.120 4.880
2014-04-29 1.120 5.033
2014-01-06 1.080 5.386
2013-10-08 1.080 6.076
2013-07-10 1.080 6.138
2013-04-11 1.080 6.455
2013-01-17 1.080 6.957
2012-10-05 1.080 7.693
2012-07-09 1.080 7.770
2012-04-19 1.080 7.968
2012-01-12 1.080 7.421
2011-07-18 1.080 7.990
2011-07-11 1.000 6.000
2011-04-11 1.000 5.891
2011-01-12 1.000 6.165

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Costamare has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Costamare has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Costamare's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Costamare's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Costamare afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Costamare has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Costamare's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Konstantinos Konstantakopoulos
AGE 50
CEO Bio

Mr. Konstantinos Konstantakopoulos has been the Chairman and Chief Executive Officer of Costamare Partners GP LLC, the General Partner of Costamare Partners LP since August 04, 2014. Mr. Konstantakopoulos has been the Chairman and Chief Executive Officer of Costamare Inc. since April 2008. Mr. Konstantakopoulos serves as President and Chief Executive Officer of Costamare Shipping, which he joined in 1992 (and where he worked part-timebeforehand). In 2001, Mr. Konstantakopoulos founded CIEL and he has served as President of CIEL since its inception. In 2005, Mr. Konstantakopoulos founded Shanghai Costamare. He founded C-Man Maritime in 2006. Mr. Konstantakopoulos has served on the board of directors of the Union of Greek Ship-owners since 2006. Mr. Konstantakopoulos studied engineering at Université Paul Sabatier in France.

CEO Compensation
  • Insufficient data for Konstantinos to compare compensation growth.
  • Insufficient data for Konstantinos to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team

Konstantinos Konstantakopoulos

TITLE
Chairman & CEO
AGE
50

Gregory Zikos

TITLE
CFO & Director
AGE
50

Anastassios Gabrielides

TITLE
General Counsel & Secretary
AGE
54
Board of Directors Tenure

Average tenure and age of the Costamare board of directors in years:

9.8
Average Tenure
50
Average Age
  • The tenure for the Costamare board of directors is about average.
Board of Directors

Konstantinos Konstantakopoulos

TITLE
Chairman & CEO
AGE
50
TENURE
11.8 yrs

Gregory Zikos

TITLE
CFO & Director
AGE
50
TENURE
9.8 yrs

Charlotte Stratos

TITLE
Independent Director
AGE
65
TENURE
9.8 yrs

Konstantinos Zacharatos

TITLE
Director
AGE
46
TENURE
11.8 yrs

Vagn Møller

TITLE
Independent Director
AGE
73
TENURE
9.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Costamare's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Costamare has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Costamare Inc. owns and charters containerships to liner companies worldwide. As of October 3, 2019, it had a fleet of 75 containerships with a total capacity of approximately 538,000 twenty foot equivalent unit (TEU), including 5 new build vessels under construction. The company was founded in 1974 and is based in Monaco.

Details
Name: Costamare Inc.
LCM
Exchange: DB
Founded: 1974
$701,134,918
117,384,048
Website: http://www.costamare.com
Address: Costamare Inc.
7 Rue du Gabian,
Monaco,
98000,
Monaco
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CMRE Common Stock New York Stock Exchange US USD 04. Nov 2010
DB LCM Common Stock Deutsche Boerse AG DE EUR 04. Nov 2010
NYSE CMRE.PRC PERP PFD SER C New York Stock Exchange US USD 15. Jan 2014
NYSE CMRE.PRB PERP PFD SER B New York Stock Exchange US USD 01. Aug 2013
NYSE CMRE.PRE 8.87% CUM PFD E New York Stock Exchange US USD 26. Jan 2018
NYSE CMRE.PRD PFD SER D New York Stock Exchange US USD 08. May 2015
Number of employees
Current staff
Staff numbers
1,680
Costamare employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 22:40
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/08/01
Last earnings filing: 2019/08/06
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.