One-glance verdict
Undervalued
$32.64 our estimate vs market $1.36
96% below our estimate, below the bear case
Fundamentals snapshot
Castor Maritime Inc.
CTRM · NCM · Industrials · Marine Shipping
Current price
$1.36
52-week range
$1.25 - $2.66
Market cap
$13.14M
Balance sheet
Healthy
-0.03x Concerning
Net cash $33.39M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 23.5% last year.
- Reward Returns 19.1% on equity, ahead of 83% of its peers.
- Risk Operating margin compressed from 48.7% to 7.7% over 3 years.
- Risk Insider ownership is only 0.1% (peer median: 36.7%).
What this company does
Castor Maritime Inc.
Castor Maritime Inc. is a shipping company that moves goods like iron ore, coal, and soybeans around the world using its fleet of ships. The money it makes mainly comes from charging customers to transport these goods. This business matters because it's a key part of how raw materials and products get to where they need to go globally.
How the company got here
Castor Maritime Inc. was founded in 2017 with the goal of becoming a player in the global shipping industry. The company has focused on acquiring and operating a fleet of vessels to transport various types of cargo across the seas. Over the years, it has navigated the cyclical nature of the shipping market, aiming to grow its fleet and service offerings. The company is based in Limassol, Cyprus, a hub for maritime operations.
What it actually does
Castor Maritime Inc. is essentially a transportation company that moves goods around the world using ships. Think of it like a trucking company, but for the ocean. They own and operate a fleet of vessels that carry bulk commodities like iron ore, coal, and soybeans, as well as containerized goods. These ships are the backbone of global trade, ensuring that raw materials and finished products reach their destinations.
Dry Bulk
This is the largest part of Castor Maritime's business, focusing on transporting dry, unpackaged bulk cargo. This includes commodities like iron ore, which is used to make steel, and soybeans, a major agricultural product. The company operates several types of dry bulk vessels, such as Kamsarmax, Panamax, and Ultramax ships, each suited for different cargo sizes and routes. When you see large ships carrying raw materials, they are likely part of this segment.
Containership
In this segment, Castor Maritime transports goods that are packed into standardized containers. These containers are like giant metal boxes that can hold a wide variety of products, from electronics to clothing. The company operates at least one containership, a vessel specifically designed to carry these stacked containers efficiently. This is a crucial part of moving manufactured goods and consumer products globally.
Asset Management
Beyond just operating ships, Castor Maritime also offers services related to managing maritime assets and energy infrastructure projects. This means they provide technical and commercial expertise to other companies involved in shipping or energy. It's like offering their know-how in running ships and related projects to others, which can include things like maintaining vessels or overseeing new energy developments. This segment diversifies their revenue streams beyond simply owning and operating their own fleet.
What management is betting on now
Castor Maritime's strategy appears to revolve around optimizing its fleet operations and potentially expanding its services. By managing a diverse fleet of dry bulk and containerships, the company aims to capitalize on global trade demands. The inclusion of asset management services suggests a move towards leveraging their expertise to generate additional revenue. Management is likely focused on efficient vessel deployment and cost management to navigate the volatile shipping market and improve profitability.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$-30.26M
FY2025 Q4
$9.35M
Revenue
$81.81M
Net income
$19.27M
Diluted EPS
0.36
Operating cash flow
$10.05M
Free cash flow
$9.35M
Fetching…
Sources
Revenue
$1.17M
Net income
$14.62M
Diluted EPS
0.38
Operating cash flow
$41.91M
Free cash flow
$-30.26M
Fetching…
Sources
Is it cheap or expensive?
Fair value $32.64 vs current price $1.36
Our most-likely fair value is $32.64 a share — about 2,300.3% above today's price of $1.36, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Healthy
Net cash $33.4M - more cash than debt. Interest coverage -0.0x.
Net debt
$-33.39M
Interest coverage
-0.03x
Castor Maritime Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
CTRM
BASELINE
Castor Maritime Inc.
Total debt $79.25M Interest coverage -0.03x This is the baseline the peer rows are being compared against.
Total debt $310.05M Interest coverage 5.77x This peer still has a real interest-payment cushion, while CTRM does not.
Total debt $94.22M Interest coverage -0.01x Neither company has much profit cushion over interest right now.
Total debt $106.34M Interest coverage 0.30x This peer still has a real interest-payment cushion, while CTRM does not.
Total debt $260.97M Interest coverage 1.64x This peer still has a real interest-payment cushion, while CTRM does not.
Total debt $83.18M Interest coverage 1.08x This peer still has a real interest-payment cushion, while CTRM does not.
What you should know
The case for and against CTRM
3 Rewards
2 Risks
Rewards
-
Revenue grew 23.5% last year.
-
Returns 19.1% on equity, ahead of 83% of its peers.
-
Free cash flow was positive in 4/10 years.
Risks
-
Operating margin compressed from 48.7% to 7.7% over 3 years.
-
Insider ownership is only 0.1% (peer median: 36.7%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
0.76x
Forward P/E
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P/B
0.02x
P/S
0.15x
EV/EBITDA
8.74x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
49.9%
Operating margin
7.7%
Net margin
109.1%
ROE
19.1%
ROA
0.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.10x
Current ratio
4.68x
Quick ratio
4.53x
Total debt
$79.25M
Total cash
$112.64M
Growth
How the business has been compounding
Revenue TTM
$442.61M
Revenue 5Y CAGR
-5.5%
EPS TTM
1.79
EPS 5Y CAGR
-69.3%
Cash flow
How much cash the business throws off
Operating CF TTM
$197.89M
Free CF TTM
$9.35M
FCF margin
2.1%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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