Costamare Bulkers Holdings Limited (CMDB) vs Pangaea Logistics Solutions Ltd. (PANL)

Costamare Bulkers Holdings Limited and Pangaea Logistics Solutions Ltd. are both Marine Shipping companies. Costamare Bulkers Holdings Limited and Pangaea Logistics Solutions Ltd. are of similar size ($554.1M and $533.6M). Pangaea Logistics Solutions Ltd. trades at the lower P/E: 10.7× against 13.1×. Pangaea Logistics Solutions Ltd. has the higher net margin (6.76% vs 0.00%) and the higher return on invested capital (5.92% vs 0.00%). Across the 14 metrics below, Pangaea Logistics Solutions Ltd. leads on 8 and Costamare Bulkers Holdings Limited on 6.

Valuation

Metric CMDB PANL Marine Shipping median
P/E 13.11 10.68 6.89
P/S n/m 0.73 1.92
P/B 0.78 1.04 0.90
Price to free cash flow 4.01 5.92 4.62
EV/EBITDA n/m 6.34 6.57
EV/Sales n/m 1.01 2.73
Earnings yield 7.63% 9.36% 9.59%
Free cash flow yield 24.96% 16.89% 16.76%

Profitability

Metric CMDB PANL Marine Shipping median
Gross margin — 35.61% 60.61%
Operating margin — 9.32% 27.74%
Net margin 0.00% 6.76% 25.21%
Free cash flow margin 0.00% 12.26% 17.29%
Return on equity (0.90%) 10.07% 8.62%
Return on assets (0.67%) 5.13% 5.35%
Return on invested capital 0.00% 5.92% 5.32%

Growth

Metric CMDB PANL Marine Shipping median
Revenue growth (TTM) — 22.50% 13.26%
EPS growth (last fiscal year) (280.65%) (52.38%) —
Revenue growth, 5-year CAGR — 10.54% 11.77%
Net income growth, 5-year CAGR — 11.28% 0.00%

Health

Metric CMDB PANL Marine Shipping median
Debt to equity 0.23 0.63 0.52
Current ratio 3.33 1.38 1.63
Net debt to EBITDA (17.24) 2.83 2.34

Dividend

Metric CMDB PANL Marine Shipping median
Dividend yield — 4.71% 5.54%
Payout ratio — 0.42 0.13

Size

Metric CMDB PANL Marine Shipping median
Market cap 554.07m 533.61m 420.73m

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