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GMS

Gulf Marine Services LSE:GMS Stock Report

Last Price

UK£0.058

Market Cap

UK£58.9m

7D

-2.4%

1Y

56.5%

Updated

05 Oct, 2022

Data

Company Financials +
GMS fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance2/6
Financial Health1/6
Dividends0/6

GMS Stock Overview

Gulf Marine Services PLC, together with its subsidiaries, operates self-propelled self-elevating support vessels (SESVs) in the United Arab Emirates, Saudi Arabia, Qatar, the United Kingdom, and rest of Europe.

Gulf Marine Services Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Gulf Marine Services
Historical stock prices
Current Share PriceUK£0.058
52 Week HighUK£0.087
52 Week LowUK£0.037
Beta3.01
1 Month Change-10.92%
3 Month Change-0.17%
1 Year Change56.49%
3 Year Change-1.03%
5 Year Change-87.48%
Change since IPO-95.55%

Recent News & Updates

Sep 27
Is Gulf Marine Services (LON:GMS) A Risky Investment?

Is Gulf Marine Services (LON:GMS) A Risky Investment?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

May 06
Gulf Marine Services (LON:GMS) Will Be Hoping To Turn Its Returns On Capital Around

Gulf Marine Services (LON:GMS) Will Be Hoping To Turn Its Returns On Capital Around

When researching a stock for investment, what can tell us that the company is in decline? When we see a declining...

Shareholder Returns

GMSGB Energy ServicesGB Market
7D-2.4%6.3%1.6%
1Y56.5%-33.3%-13.0%

Return vs Industry: GMS exceeded the UK Energy Services industry which returned -33.3% over the past year.

Return vs Market: GMS exceeded the UK Market which returned -13% over the past year.

Price Volatility

Is GMS's price volatile compared to industry and market?
GMS volatility
GMS Average Weekly Movement8.2%
Energy Services Industry Average Movement7.2%
Market Average Movement5.5%
10% most volatile stocks in GB Market10.7%
10% least volatile stocks in GB Market2.9%

Stable Share Price: GMS is more volatile than 75% of UK stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: GMS's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of UK stocks.

About the Company

FoundedEmployeesCEOWebsite
1977545Mansour Al Alamihttps://www.gmsplc.com

Gulf Marine Services PLC, together with its subsidiaries, operates self-propelled self-elevating support vessels (SESVs) in the United Arab Emirates, Saudi Arabia, Qatar, the United Kingdom, and rest of Europe. It operates through K-Class Vessels, S-Class Vessels, E-Class Vessels, and Other Vessels segments. The company offers offshore construction and heavy lifting, accommodation and hotel, well intervention and work over operations, and manpower services for oil and gas industry; and platform maintenance and commissioning, turbine maintenance and commissioning, hotel, crane, and offshore crew transfer services to renewables industry.

Gulf Marine Services Fundamentals Summary

How do Gulf Marine Services's earnings and revenue compare to its market cap?
GMS fundamental statistics
Market CapUK£58.85m
Earnings (TTM)UK£37.53m
Revenue (TTM)UK£115.69m

1.6x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GMS income statement (TTM)
RevenueUS$130.13m
Cost of RevenueUS$73.47m
Gross ProfitUS$56.66m
Other ExpensesUS$14.44m
EarningsUS$42.22m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.042
Gross Margin43.54%
Net Profit Margin32.44%
Debt/Equity Ratio127.8%

How did GMS perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

GMS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue3x
Enterprise Value/EBITDA5.8x
PEG Ratio0.3x

Price to Earnings Ratio vs Peers

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

GMS PE Ratio vs Peers
The above table shows the PE ratio for GMS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average4.2x
IGAS IGas Energy
3x-31.1%UK£76.1m
TRIN Trinity Exploration & Production
9.9xn/aUK£50.2m
PHAR Pharos Energy
2.6x-42.3%UK£99.8m
ENW Enwell Energy
1.2xn/aUK£73.7m
GMS Gulf Marine Services
1.6x5.4%UK£58.9m

Price-To-Earnings vs Peers: GMS is good value based on its Price-To-Earnings Ratio (1.6x) compared to the peer average (4.2x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: GMS is good value based on its Price-To-Earnings Ratio (1.6x) compared to the European Energy Services industry average (8.9x)


Price to Earnings Ratio vs Fair Ratio

What is GMS'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.

GMS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio1.6x
Fair PE Ratio7.9x

Price-To-Earnings vs Fair Ratio: GMS is good value based on its Price-To-Earnings Ratio (1.6x) compared to the estimated Fair Price-To-Earnings Ratio (7.9x).


Share Price vs Fair Value

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

Below Fair Value: GMS (£0.06) is trading below our estimate of fair value (£0.63)

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


Analyst Price Targets

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

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.


Discover undervalued companies

Future Growth

How is Gulf Marine Services forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


5.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GMS's forecast earnings growth (5.4% per year) is above the savings rate (0.9%).

Earnings vs Market: GMS's earnings (5.4% per year) are forecast to grow slower than the UK market (8.8% per year).

High Growth Earnings: GMS's earnings are forecast to grow, but not significantly.

Revenue vs Market: GMS's revenue (3% per year) is forecast to grow slower than the UK market (4.4% per year).

High Growth Revenue: GMS's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if GMS's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Gulf Marine Services performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-7.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GMS has a large one-off gain of $15.0M impacting its June 30 2022 financial results.

Growing Profit Margin: GMS became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: GMS has become profitable over the past 5 years, growing earnings by -7.9% per year.

Accelerating Growth: GMS has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: GMS has become profitable in the last year, making it difficult to compare its past year earnings growth to the Energy Services industry (20.4%).


Return on Equity

High ROE: GMS's Return on Equity (15.4%) is considered low.


Discover strong past performing companies

Financial Health

How is Gulf Marine Services's financial position?

Financial Health Score

1/6

Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: GMS's short term assets ($53.6M) do not cover its short term liabilities ($59.3M).

Long Term Liabilities: GMS's short term assets ($53.6M) do not cover its long term liabilities ($326.4M).


Debt to Equity History and Analysis

Debt Level: GMS's net debt to equity ratio (124%) is considered high.

Reducing Debt: GMS's debt to equity ratio has increased from 88.7% to 127.8% over the past 5 years.

Debt Coverage: GMS's debt is not well covered by operating cash flow (17.2%).

Interest Coverage: GMS's interest payments on its debt are well covered by EBIT (3.6x coverage).


Balance Sheet


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Dividend

What is Gulf Marine Services's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Gulf Marine Services Dividend Yield vs Market
How does Gulf Marine Services dividend yield compare to the market?
SegmentDividend Yield
Company (Gulf Marine Services)0%
Market Bottom 25% (GB)2.1%
Market Top 25% (GB)5.9%
Industry Average (Energy Services)4.0%
Analyst forecast in 3 Years (Gulf Marine Services)0%

Notable Dividend: Unable to evaluate GMS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate GMS's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if GMS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if GMS's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: GMS is not paying a notable dividend for the UK market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as GMS has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.9yrs

Average board tenure


CEO

Mansour Al Alami

1.92yrs

Tenure

US$659,000

Compensation

Mr. Mansour Al Alami has been Executive Chairman of the Board at Gulf Marine Services PLC since November 23, 2020 and has been its Non-Executive Director since November 10, 2020. He serves as Chief Executi...


CEO Compensation Analysis

Mansour Al Alami's Compensation vs Gulf Marine Services Earnings
How has Mansour Al Alami's remuneration changed compared to Gulf Marine Services's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$42m

Mar 31 2022n/an/a

US$37m

Dec 31 2021US$659kUS$419k

US$31m

Sep 30 2021n/an/a

-US$33m

Jun 30 2021n/an/a

-US$97m

Mar 31 2021n/an/a

-US$110m

Dec 31 2020US$420kUS$44k

-US$124m

Compensation vs Market: Mansour's total compensation ($USD659.00K) is above average for companies of similar size in the UK market ($USD342.14K).

Compensation vs Earnings: Mansour's compensation has been consistent with company performance over the past year.


Board Members

Experienced Board: GMS's board of directors are not considered experienced ( 1.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

LSE:GMS Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
31 Jan 22BuyUK£10,680Mansour Al AlamiIndividual178,000UK£0.06
24 Jan 22BuyUK£11,456Mansour Al AlamiIndividual191,000UK£0.061
13 Oct 21BuyUK£22,987Mansour Al AlamiIndividual529,800UK£0.043

Ownership Breakdown

What is the ownership structure of GMS?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders2,571,0000.3%
Public Companies6,092,5940.6%
General Public131,040,87012.9%
Institutions248,328,61124.4%
Private Companies628,381,50761.8%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 83.93% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
29.99%
Seafox Operations B.V.
304,822,732$17.6m0%no data
25.6%
Mazrui Holdings L.L.C.
260,180,095$15.1m0%no data
3.92%
IG Group Holdings Plc, Asset Management Arm
39,839,761$2.3m-0.05%0.28%
3.38%
Castro Investments Ltd
34,378,680$2.0m0%no data
3.02%
UBS Asset Management
30,732,316$1.8m5.56%no data
2.85%
Grimpeur Holdings Limited
29,000,000$1.7m0%no data
1.96%
BNP Paribas, Private & Investment Banking Investments
19,888,294$1.2m-0.01%0.01%
1.81%
EFG-Hermes Asset Management SAE
18,409,663$1.1m-0.05%81.28%
1.42%
Saxo Bank A/S, Asset Management Arm
14,393,144$833.4k-1.07%0.11%
1.05%
Forager Funds Management Pty Ltd.
10,675,000$618.1k0%0.63%
1.04%
A J Bell Holdings Limited, Asset Management Arm
10,545,480$610.6k-2.7%0.01%
0.91%
Abu Dhabi Islamic Bank PJSC, Asset Management Arm
9,253,958$535.8k0%100%
0.87%
Cape Wrath Capital
8,819,877$510.7k20.34%9.78%
0.86%
EFG Private Bank SA, Asset Management Arm
8,781,879$508.5k21.89%0.02%
0.6%
Lloyds Banking Group plc
6,092,594$352.8k3.87%no data
0.54%
Jarvis Securities plc, Asset Management Arm
5,500,408$318.5k-16.85%0.02%
0.53%
Edale Capital LLP
5,399,997$312.7k-52.42%1.94%
0.52%
Smith & Williamson Investment Management LLP
5,311,947$307.6k159.41%no data
0.51%
Heritage Capital Management Limited
5,209,019$301.6k0%1.96%
0.51%
ADM Investor Services International Limited, Asset Management Arm
5,140,469$297.6k79.08%0.6%
0.49%
Idealing.com, Asset Management Arm
4,992,000$289.0k6%0.18%
0.49%
Patronus Partners Limited
4,986,000$288.7k5.28%4.55%
0.42%
Barclays Bank PLC, Wealth and Investment Management Division
4,249,387$246.0k-34.47%no data
0.32%
HBOS Investment Fund Managers Limited
3,292,704$190.6k-16.44%no data
0.31%
Lombard Odier Asset Management (Europe) Limited
3,154,069$182.6k0%no data

Company Information

Gulf Marine Services PLC's employee growth, exchange listings and data sources


Key Information

  • Name: Gulf Marine Services PLC
  • Ticker: GMS
  • Exchange: LSE
  • Founded: 1977
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Implied Market Cap: UK£58.850m
  • Shares outstanding: 1.02b
  • Website: https://www.gmsplc.com

Number of Employees


Location

  • Gulf Marine Services PLC
  • PO Box 46046
  • Abu Dhabi
  • United Arab Emirates


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GMSLSE (London Stock Exchange)YesOrdinary SharesGBGBPMar 2014
GMSLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPMar 2014

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/10/05 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.