Costamare Inc. (CMRE) vs Star Bulk Carriers Corp. (SBLK)

Costamare Inc. and Star Bulk Carriers Corp. are both Marine Shipping companies. Star Bulk Carriers Corp. is the larger, with a market value of $3.1B against $1.7B — 1.8× the size. Costamare Inc. trades at the lower P/E: 5.3× against 10.9×. Costamare Inc. grew revenue faster over the last twelve months: 34.8% against 6.34%. Costamare Inc. has the higher net margin (37.1% vs 23.9%) and the higher return on invested capital (7.70% vs 6.99%). Both pay a dividend; Star Bulk Carriers Corp. yields more (6.77% vs 4.25%). Across the 23 metrics below, Costamare Inc. leads on 15 and Star Bulk Carriers Corp. on 8.

Valuation

Metric CMRE SBLK Marine Shipping median
P/E 5.32 10.86 8.37
P/S 1.97 2.57 1.87
P/B 0.74 1.23 0.86
Price to free cash flow 27.46 5.52 4.66
EV/EBITDA 4.87 6.80 6.48
EV/Sales 3.21 2.96 2.70
Earnings yield 18.79% 9.21% 10.65%
Free cash flow yield 3.64% 18.10% 17.95%

Profitability

Metric CMRE SBLK Marine Shipping median
Gross margin 72.32% 48.83% 60.61%
Operating margin 48.24% 27.74% 27.74%
Net margin 37.08% 23.87% 25.21%
Free cash flow margin 7.18% 46.54% 16.32%
Return on equity 14.75% 11.68% 8.62%
Return on assets 8.21% 7.41% 5.35%
Return on invested capital 7.70% 6.99% 5.32%

Growth

Metric CMRE SBLK Marine Shipping median
Revenue growth (TTM) 34.83% 6.34% 13.26%
EPS growth (last fiscal year) 17.21% (73.93%) (16.82%)
Revenue growth, 5-year CAGR 13.78% 8.50% 11.77%
Net income growth, 5-year CAGR 0.00% 54.18% 0.00%

Health

Metric CMRE SBLK Marine Shipping median
Debt to equity 0.66 0.41 0.52
Current ratio 1.61 1.91 1.63
Net debt to EBITDA 1.49 1.71 2.34

Dividend

Metric CMRE SBLK Marine Shipping median
Dividend yield 4.25% 6.77% 4.68%
Payout ratio 0.23 0.74 0.31

Size

Metric CMRE SBLK Marine Shipping median
Market cap 1.73b 3.13b 391.73m

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