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Financial statements

Costamare Bulkers Holdings Ltd financial statements

Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Costamare Bulkers Holdings Ltd files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2023FY2025FY2025
Revenue00597
General and administrative006.78
Operating income00-30.6
Interest expense008.14
Interest income00.013.14
Other non-operating income00.01-6.75
Net income00.01-37.4
EBITDA00-2.2
EPS, basic0.001.28-2.28
EPS, diluted0.001.28-2.28
Shares, basic (weighted)0016.4
Shares, diluted (weighted)0016.4

Balance sheet

FY2023FY2025FY2025
Cash and equivalents0212
Inventory014.2
Other current assets024.7
Total current assets0.01294
Property, plant and equipment0566
Lease right-of-use assets041.7
Total assets2.11929
Accrued liabilities09.73
Deferred revenue011.9
Short-term debt015
Total current liabilities2.1123
Long-term debt0141
Total liabilities2.1264
Total debt0156
Paid-in capital0703
Retained earnings0.01-37.3
Shareholders' equity00.01666
Total equity00.01666
Total liabilities and equity2.11929
Shares outstanding0.0124.2

Cash flow statement

FY2023FY2025FY2025
Net income00.01-37.4
Depreciation and amortization0028.4
Stock-based compensation002.13
Change in receivables0-032.3
Change in inventory0025.7
Change in payables00-2.18
Cash from operations0075.6
Cash from investing0074.5
Cash from financing02.163.3
Net change in cash02.1213
Interest paid008.61

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $21.90 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Operating margin-5.1%Operating income / revenue.
EBITDA margin-0.4%EBITDA (operating income + depreciation and amortization) / revenue.
Net margin-6.3%Net income / revenue.
Operating cash flow margin12.7%Cash from operations / revenue.
Return on equity (ROE)-11.2%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)-8.0%Net income / average total assets.
Return on invested capital (ROIC)-7.9%Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue0.4%Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue4.8%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Net income growth, 1y-622,633.0%Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y-278.1%EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y1,889,600.0%Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y11,094,033.0%Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y44,032.0%Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y344,337.0%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Current ratio2.38xCurrent assets / current liabilities.
Quick ratio1.72x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio1.72x(Cash + short-term investments) / current liabilities.
Debt / equity0.23xTotal debt / shareholders' equity. Not shown when equity is negative.
Debt / assets16.7%Total debt / total assets.
Liabilities / assets28.4%Total liabilities / total assets.
Net debt-$56.3MTotal debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage-3.76xOperating income / interest expense.
Working capital$170.5MCurrent assets - current liabilities.
Tangible book value$665.6MShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover1.28xRevenue / average total assets.
Fixed asset turnover2.11xRevenue / average property, plant and equipment.

Per share

MetricValueHow it is calculated
EPS, diluted-$2.28Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic-$2.28Net income per basic share, as reported (split-adjusted).
Revenue per share$36.47Revenue / diluted weighted shares.
Operating cash flow per share$4.62Cash from operations / diluted weighted shares.
Book value per share$27.53Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share$27.53Tangible book value / shares outstanding.
Cash per share$8.76(Cash + short-term investments) / shares outstanding.

Valuation

MetricValueHow it is calculated
Market cap$529.6MShare price x shares outstanding.
Enterprise value$473.3MMarket cap + total debt - cash - short-term investments.
P/S0.89xMarket cap / revenue.
P/B0.80xMarket cap / shareholders' equity. Only when equity is positive.
Price / tangible book0.80xMarket cap / tangible book value, when positive.
P/OCF7.01xMarket cap / cash from operations, when positive.
EV/Sales0.79xEnterprise value / revenue.
Earnings yield-7.1%Net income / market cap (the inverse of P/E).
What was Costamare Bulkers Holdings Ltd's revenue in fiscal 2025?

Costamare Bulkers Holdings Ltd reported revenue of $597.2M for fiscal 2025.

Was Costamare Bulkers Holdings Ltd profitable in fiscal 2025?

No. It reported a net loss of $37.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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