Prudent Guy

Navios Maritime Poised For Substantial Growth

To clarify, I think I see why (numerically) their margins are so much worse...their cost of revenue is really crazy as a % of total revenue vs the competition. What I'm trying to understand is WHY that is.

I.e., Cost of revenue vs. total revenue for these co's:
NM 161m vs. 212m
DRYS 6m vs. 112m
DSX 8m vs, 43m
GNK 8m vs. 45m

The SG&A, depreciation, etc, are all pretty close for all four companies. The cost of revenue just seems outlandishly high for NM.

I.E., it's taking them like 20x the expenses to generate 2-4x the revenue of the others. And it's been that way all of the last four quarters. Why? :P