Capital Clean Energy Carriers Corp. (CCEC) vs Costamare Inc. (CMRE)

Capital Clean Energy Carriers Corp. and Costamare Inc. are both Marine Shipping companies. Costamare Inc. is the larger, with a market value of $1.8B against $1.3B — 1.4× the size. Costamare Inc. trades at the lower P/E: 5.5× against 11.6×. Costamare Inc. grew revenue faster over the last twelve months: 34.8% against 4.42%. Costamare Inc. has the higher net margin (37.1% vs 28.4%) and the higher return on invested capital (7.70% vs 2.94%). Both pay a dividend; Costamare Inc. yields more (4.18% vs 3.27%). Across the 22 metrics below, Costamare Inc. leads on 18 and Capital Clean Energy Carriers Corp. on 4.

Valuation

Metric CCEC CMRE Marine Shipping median
P/E 11.63 5.52 6.89
P/S 3.30 2.05 1.92
P/B 0.85 0.77 0.90
Price to free cash flow n/m 28.50 4.62
EV/EBITDA 12.60 4.98 6.57
EV/Sales 10.05 3.29 2.73
Earnings yield 8.60% 18.10% 9.59%
Free cash flow yield (53.75%) 3.51% 16.76%

Profitability

Metric CCEC CMRE Marine Shipping median
Gross margin 76.77% 72.32% 60.61%
Operating margin 50.03% 48.24% 27.74%
Net margin 28.36% 37.08% 25.21%
Free cash flow margin (177.40%) 7.18% 17.29%
Return on equity 7.79% 14.75% 8.62%
Return on assets 2.56% 8.21% 5.35%
Return on invested capital 2.94% 7.70% 5.32%

Growth

Metric CCEC CMRE Marine Shipping median
Revenue growth (TTM) 4.42% 34.83% 13.26%
EPS growth (last fiscal year) 10.77% 17.21% —
Revenue growth, 5-year CAGR 22.76% 13.78% 11.77%
Net income growth, 5-year CAGR 41.25% 0.00% 0.00%

Health

Metric CCEC CMRE Marine Shipping median
Debt to equity 1.89 0.66 0.52
Current ratio 1.15 1.61 1.63
Net debt to EBITDA 6.34 1.49 2.34

Dividend

Metric CCEC CMRE Marine Shipping median
Dividend yield 3.27% 4.18% 5.54%
Payout ratio — 0.11 0.13

Size

Metric CCEC CMRE Marine Shipping median
Market cap 1.29b 1.77b 420.73m

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