Costamare Bulkers Holdings Limited (CMDB) vs SEACOR Marine Holdings Inc. (SMHI)

Costamare Bulkers Holdings Limited and SEACOR Marine Holdings Inc. are both Marine Shipping companies. Costamare Bulkers Holdings Limited is the larger, with a market value of $473.2M against $218.7M — 2.2× the size. SEACOR Marine Holdings Inc. has negative trailing earnings, so its P/E is not meaningful; Costamare Bulkers Holdings Limited trades at 11.7×. Costamare Bulkers Holdings Limited has the higher net margin (0.00% vs −8.62%) and the lower return on invested capital (0.00% vs 2.93%). Across the 13 metrics below, Costamare Bulkers Holdings Limited leads on 8 and SEACOR Marine Holdings Inc. on 5.

Valuation

Metric CMDB SMHI Marine Shipping median
P/E 11.71 n/m 8.37
P/S n/m 1.02 1.87
P/B 0.69 0.85 0.86
Price to free cash flow 3.58 3.28 4.66
EV/EBITDA n/m 6.60 6.48
EV/Sales n/m 2.10 2.70
Earnings yield 8.54% (8.53%) 10.65%
Free cash flow yield 27.96% 30.46% 17.95%

Profitability

Metric CMDB SMHI Marine Shipping median
Gross margin — 17.03% 60.61%
Operating margin — 10.69% 27.74%
Net margin 0.00% (8.62%) 25.21%
Free cash flow margin 0.00% 30.99% 16.32%
Return on equity (0.90%) (6.98%) 8.62%
Return on assets (0.67%) (2.76%) 5.35%
Return on invested capital 0.00% 2.93% 5.32%

Growth

Metric CMDB SMHI Marine Shipping median
Revenue growth (TTM) — (17.49%) 13.26%
EPS growth (last fiscal year) (280.65%) 62.41% (16.82%)
Revenue growth, 5-year CAGR — 9.94% 11.77%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric CMDB SMHI Marine Shipping median
Debt to equity 0.23 1.27 0.52
Current ratio 3.33 2.38 1.63
Net debt to EBITDA (17.24) 3.90 2.34

Dividend

Metric CMDB SMHI Marine Shipping median
Dividend yield — — 4.68%
Payout ratio — — 0.31

Size

Metric CMDB SMHI Marine Shipping median
Market cap 473.15m 218.69m 391.73m

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