Costamare Bulkers Holdings Limited (CMDB) vs Himalaya Shipping Ltd. (HSHP)

Costamare Bulkers Holdings Limited and Himalaya Shipping Ltd. are both Marine Shipping companies. Himalaya Shipping Ltd. is the larger, with a market value of $844.4M against $554.1M — 1.5× the size. Costamare Bulkers Holdings Limited trades at the lower P/E: 13.1× against 15.5×. Himalaya Shipping Ltd. has the higher net margin (31.4% vs 0.00%) and the higher return on invested capital (7.91% vs 0.00%). Across the 13 metrics below, Costamare Bulkers Holdings Limited leads on 7 and Himalaya Shipping Ltd. on 6.

Valuation

Metric CMDB HSHP Marine Shipping median
P/E 13.11 15.52 6.89
P/S n/m 4.93 1.92
P/B 0.78 5.05 0.90
Price to free cash flow 4.01 n/m 4.62
EV/EBITDA n/m 10.96 6.57
EV/Sales n/m 8.77 2.73
Earnings yield 7.63% 6.44% 9.59%
Free cash flow yield 24.96% (27.41%) 16.76%

Profitability

Metric CMDB HSHP Marine Shipping median
Gross margin — 81.65% 60.61%
Operating margin — 60.97% 27.74%
Net margin 0.00% 31.44% 25.21%
Free cash flow margin 0.00% 52.06% 17.29%
Return on equity (0.90%) 32.62% 8.62%
Return on assets (0.67%) 6.10% 5.35%
Return on invested capital 0.00% 7.91% 5.32%

Growth

Metric CMDB HSHP Marine Shipping median
Revenue growth (TTM) — 38.59% 13.26%
EPS growth (last fiscal year) (280.65%) (20.83%) —
Revenue growth, 5-year CAGR — — 11.77%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric CMDB HSHP Marine Shipping median
Debt to equity 0.23 4.15 0.52
Current ratio 3.33 1.19 1.63
Net debt to EBITDA (17.24) 6.56 2.34

Dividend

Metric CMDB HSHP Marine Shipping median
Dividend yield — — 5.54%
Payout ratio — — 0.13

Size

Metric CMDB HSHP Marine Shipping median
Market cap 554.07m 844.35m 420.73m

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