CMRE Costamare Inc.

Overview and Growth

Costamare Inc. generated $877.90M of revenue in fiscal 2025, with net income of $364.57M and an operating cash inflow of $536.87M. Revenue of $877.90M sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line contracted 1.2% from $888.49M in fiscal 2024; this top-line contraction left the company with a smaller revenue base. At period end, total assets were $3.86B, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.23x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Operations produced $456.19M of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 52.0% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. The bottom-line result was net income of $364.57M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 41.5% margin after operating costs and the remaining recognized items. Reported EBITDA totaled $585.73M, adding a pre-interest, tax, depreciation, and amortization perspective to the profitability profile. Net income equaled 16.9% of period-end equity, showing the earnings generated on shareholders’ book capital. The net-income-to-assets relationship measured 9.4%, showing earnings relative to the full balance sheet. Current net income of $364.57M was above fiscal 2024 net income of $319.92M, showing the direction of the bottom-line change.

Liquidity and Capital Structure

At period end, the $3.86B asset base was financed through $1.70B of liabilities and $2.16B of equity. At period end, current assets of $690.67M compared with current liabilities of $398.57M, defining the company’s short-term resource position. At 1.73x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $519.85M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 130.4%, excluding receivables and other current assets. The company carried $1.51B of total debt at period end, which frames its leverage and debt-service burden. Debt equaled 0.7x of book equity, describing the relative scale of borrowing and shareholder capital. The debt-to-assets relationship was 39.2%, comparing borrowing with the total asset balance. Equity equaled 55.9% of assets, showing the shareholder-capital layer within the company’s balance sheet. Liabilities represented 44.1% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 13.5%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $5.15B in fiscal 2024, the current asset base moved 25.0% and finished lower. Book equity was 16.0% lower than fiscal 2024 equity of $2.57B, showing how shareholder capital changed year over year. Cash and equivalents were 26.2% lower than fiscal 2024 cash of $704.63M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $536.87M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 1.47x, comparing cash generated by operations with the bottom-line earnings result. Compared with $537.72M in fiscal 2024, current operating cash flow of $536.87M was below the prior result.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.