Latest Ratios: P/E Ratio -12.0x · EV/EBITDA 44.6x · ROE -6.2%. (2022–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Market Cap | $447M | $373M | — | — | — |
| Enterprise Value | $426M | $353M | — | — | — |
| P/E Ratio → | -11.96 | — | — | — | — |
| P/S Ratio | 0.75 | 0.62 | — | — | — |
| P/B Ratio | 0.57 | 0.48 | — | — | — |
| P/FCF | 10.17 | 8.49 | — | — | — |
| P/OCF | 5.91 | 4.93 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| EV / Revenue | — | 0.59 | — | — | — |
| EV / EBITDA | 44.60 | 36.89 | — | — | — |
| EV / EBIT | — | — | — | — | — |
| EV / FCF | — | 8.04 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Gross Margin | 12.4% | 12.4% | 11.5% | 8.1% | 86.8% |
| Operating Margin | -3.2% | -3.2% | -2.8% | -20.6% | 34.5% |
| Net Profit Margin | -6.3% | -6.3% | -8.2% | -22.3% | 28.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -6.2% | -6.2% | -21.9% | -32.1% | 20.3% |
| ROA | -3.2% | -3.2% | -8.1% | -14.4% | 10.4% |
| ROIC | -1.5% | -1.5% | -2.3% | -11.5% | — |
| ROCE | -2.1% | -2.1% | -4.0% | -16.5% | 14.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.29 | 0.29 | 1.69 | 1.31 | 0.86 |
| Debt / EBITDA | 23.92 | 23.92 | 191.07 | — | 2.59 |
| Net Debt / Equity | — | -0.03 | 1.57 | 1.24 | 0.63 |
| Net Debt / EBITDA | -2.10 | -2.10 | 177.72 | — | 1.89 |
| Debt / FCF | — | -0.46 | — | — | 4.54 |
| Interest Coverage | -3.14 | -3.14 | -2.60 | -4.24 | 5.63 |
Net cash position: cash ($249M) exceeds total debt ($229M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 2.38 | 2.38 | 0.57 | 0.81 | 1.61 |
| Quick Ratio | 2.27 | 2.27 | 0.46 | 0.66 | 1.50 |
| Cash Ratio | 1.72 | 1.72 | 0.12 | 0.11 | 1.11 |
| Asset Turnover | — | 0.55 | 0.96 | 0.56 | 0.36 |
| Inventory Turnover | 31.32 | 31.32 | 23.79 | 12.79 | 4.16 |
| Days Sales Outstanding | — | 22.84 | 15.12 | 25.96 | 28.46 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | 9.8% | 11.8% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $24M | $24M | $24M | $24M |
Volatile Spot Market Exposure
According to recent market data, CMDB trades at a P/B of 0.54 and a negative P/E, suggesting that investors are pricing the entity as a distressed asset rather than a growth-oriented shipping platform, despite the company's significant cash reserves relative to its current market capitalization.
The valuation discount relative to peers like Star Bulk suggests the market is heavily discounting the company's ability to generate sustainable returns on its asset-light model. Investors should monitor whether the current P/S of 0.71 represents a floor or if further margin compression will necessitate a deeper valuation reset.
As reported in financial statements, CMDB's operating margin has frequently dipped into negative territory, reaching -11.9% in recent quarters, which indicates that the company's current cost structure is unable to absorb the volatility inherent in the dry bulk freight market's thin middleman spreads.
The gross margin of 12.43% appears insufficient to cover the fixed administrative overhead required to maintain the trading platform. This suggests that the company's earning power is currently non-existent, and profitability remains entirely dependent on favorable shifts in the Baltic Dry Index that have yet to materialize.
Based on reported figures, CMDB's ROIC has struggled to remain positive, fluctuating between -0.8% and 0.8% over the last ten quarters, which indicates that the company is currently failing to compound capital effectively within its current operational framework compared to more established industry peers.
The inability to generate a consistent positive return on invested capital suggests that the company's asset-light strategy has not yet achieved the necessary scale to offset its operating costs. Investors should monitor whether future capital allocation toward fleet expansion can drive a meaningful improvement in these returns.
According to quarterly filings, the company's cash conversion cycle has shown extreme variance, spiking to 194 days in 2025Q1 before normalizing, which highlights the significant impact of voyage-based revenue recognition and timing mismatches on the company's operational efficiency metrics compared to historical averages.
The erratic nature of the CCC suggests that the company's working capital management is highly sensitive to the timing of specific voyage completions rather than structural operational improvements. This volatility warrants further investigation into whether the company's internal processes can stabilize to provide more predictable cash flow generation.
The P/E ratio is the most commonly misapplied metric for CMDB, as it fails to account for the company's significant cash-heavy balance sheet and the non-cash volatility inherent in its freight derivative and voyage-based accounting, which often distorts reported earnings in this specific business model.
Investors should instead focus on EV/EBITDA or P/B, which better capture the company's underlying asset value and cash position. Relying on P/E in a cyclical, loss-making trading environment obscures the company's potential as a strategic option play for its parent company.
Includes 30+ ratios · 4 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CMDB stock.
Costamare Bulkers Holdings Ltd's current P/E ratio is -12.0x. This places it at the 50th percentile of its historical range.
Costamare Bulkers Holdings Ltd's current EV/EBITDA is 44.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 36.9x.
Costamare Bulkers Holdings Ltd's return on equity (ROE) is -6.2%. The historical average is -10.0%.
Based on historical data, Costamare Bulkers Holdings Ltd is trading at a P/E of -12.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Costamare Bulkers Holdings Ltd has 12.4% gross margin and -3.2% operating margin.
Costamare Bulkers Holdings Ltd's Debt/EBITDA ratio is 23.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.