Gulf Marine Services PLC

BATS-CHIXE:GMSL Stock Report

Market Cap: UK£180.8m

Gulf Marine Services Valuation

Is GMSL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of GMSL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GMSL (£0.17) is trading below our estimate of fair value (£0.41)

Significantly Below Fair Value: GMSL is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GMSL?

Key metric: As GMSL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for GMSL. This is calculated by dividing GMSL's market cap by their current earnings.
What is GMSL's PE Ratio?
PE Ratio5.7x
EarningsUS$40.03m
Market CapUS$226.95m

Price to Earnings Ratio vs Peers

How does GMSL's PE Ratio compare to its peers?

The above table shows the PE ratio for GMSL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9x
HTG Hunting
4.5x-7.9%UK£473.7m
POS Plexus Holdings
3.6x-79.8%UK£10.7m
HSP Hargreaves Services
15x23.4%UK£184.6m
ENQ EnQuest
12.9x-3.6%UK£213.6m
GMSL Gulf Marine Services
5.7xn/aUK£180.8m

Price-To-Earnings vs Peers: GMSL is good value based on its Price-To-Earnings Ratio (5.7x) compared to the peer average (9x).

Price to Earnings Ratio vs Industry

How does GMSL's PE Ratio compare vs other companies in the European Energy Services Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies7PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: GMSL is good value based on its Price-To-Earnings Ratio (5.7x) compared to the European Energy Services industry average (9.4x).

Price to Earnings Ratio vs Fair Ratio

What is GMSL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GMSL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate GMSL's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GMSL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£0.17
UK£0.27
+60.1%
11.6%UK£0.30UK£0.24n/a2
Nov ’25UK£0.17
UK£0.27
+53.7%
11.6%UK£0.30UK£0.24n/a2
Oct ’25UK£0.15
UK£0.25
+67.7%
5.9%UK£0.26UK£0.23n/a2
Sep ’25UK£0.17
UK£0.26
+51.4%
8.1%UK£0.28UK£0.24n/a2
Aug ’25UK£0.19
UK£0.26
+36.6%
8.1%UK£0.28UK£0.24n/a2
Jul ’25UK£0.17
UK£0.26
+50.4%
8.2%UK£0.28UK£0.24n/a2
Jun ’25UK£0.20
UK£0.26
+29.9%
8.3%UK£0.28UK£0.24n/a2
May ’25UK£0.22
UK£0.26
+19.4%
8.3%UK£0.28UK£0.24n/a2
Apr ’25UK£0.20
UK£0.23
+16.2%
1.0%UK£0.23UK£0.23n/a2
Mar ’25UK£0.17
UK£0.23
+33.3%
1.4%UK£0.24UK£0.23n/a2
Feb ’25UK£0.16
UK£0.23
+44.4%
1.4%UK£0.24UK£0.23n/a2
Jan ’25UK£0.14
UK£0.23
+59.8%
3.0%UK£0.24UK£0.22n/a2
Jun ’24UK£0.05
UK£0.20
+298.0%
0.1%UK£0.20UK£0.20UK£0.202
May ’24UK£0.048
UK£0.20
+317.9%
0.1%UK£0.20UK£0.20UK£0.222
Apr ’24UK£0.045
UK£0.19
+322.8%
6.0%UK£0.20UK£0.18UK£0.202
Mar ’24UK£0.045
UK£0.19
+322.0%
6.3%UK£0.20UK£0.18UK£0.172
Feb ’24UK£0.045
UK£0.19
+320.1%
6.3%UK£0.20UK£0.18UK£0.162
Jan ’24UK£0.048
UK£0.19
+291.7%
7.1%UK£0.20UK£0.17UK£0.142
Dec ’23UK£0.054
UK£0.19
+252.0%
5.0%UK£0.20UK£0.18UK£0.142
Nov ’23UK£0.058
UK£0.20
+239.2%
1.8%UK£0.20UK£0.19UK£0.102

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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