Global-e Online (NasdaqGS:GLBE) - Share price, News & Analysis

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

GLBE ($22.6) is trading below our estimate of [[fair value]] ($23.08)

GLBE fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	2/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

GLBE Stock Overview

Rewards

Trading at 2.1% below our estimate of its fair value

Revenue is forecast to grow 28.81% per year

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Volatile share price over the past 3 months

Shareholders have been diluted in the past year

Global-e Online Competitors

Farfetch

NYSE:FTCH

US$3.4b

SIGNA Sports United

NYSE:SSU

US$2.3b

Dada Nexus

NasdaqGS:DADA

US$2.2b

Revolve Group

NYSE:RVLV

US$2.1b

Price History & Performance

Summary of all time highs, changes and price drops for Global-e Online
Historical stock prices
Current Share Price	US$22.60
52 Week High	US$83.77
52 Week Low	US$15.63
Beta	0
1 Month Change	11.44%
3 Month Change	-36.45%
1 Year Change	-62.50%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-11.37%

Recent News & Updates

Jun 23

Global-e Online Shares Dip Below IPO Price, Finding Support

Global-e Online has been a rough ride since its $25 IPO in May 2021. After more than tripling in a few months, the stock has fully round-tripped. Two recent acquisitions present opportunities and risks while the stock price hovers below the IPO price. Near-term support offers a swing-long opportunity.

May 20

Global-e Online Ltd. (NASDAQ:GLBE) Consensus Forecasts Have Become A Little Darker Since Its Latest Report

It's been a pretty great week for Global-e Online Ltd. ( NASDAQ:GLBE ) shareholders, with its shares surging 13% to...

Shareholder Returns

	GLBE	US Online Retail	US Market
7D	23.5%	10.3%	6.6%
1Y	-62.5%	-39.5%	-18.4%

Return vs Industry: GLBE underperformed the US Online Retail industry which returned -39.5% over the past year.

Return vs Market: GLBE underperformed the US Market which returned -18.4% over the past year.

Price Volatility

Is GLBE's price volatile compared to industry and market?
GLBE volatility
GLBE Average Weekly Movement	15.3%
Online Retail Industry Average Movement	13.0%
Market Average Movement	8.1%
10% most volatile stocks in US Market	16.6%
10% least volatile stocks in US Market	3.2%

Stable Share Price: GLBE is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 15% a week.

Volatility Over Time: GLBE's weekly volatility (15%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
2013	473	Amir Schlachet	https://www.global-e.com

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide. Global-E Online Ltd.

Global-e Online Fundamentals Summary

How do Global-e Online's earnings and revenue compare to its market cap?
GLBE fundamental statistics
Market Cap	US$3.54b
Earnings (TTM)	-US$126.77m
Revenue (TTM)	US$275.45m

12.8x

P/S Ratio

-27.9x

P/E Ratio

Is GLBE overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
GLBE income statement (TTM)
Revenue	US$275.45m
Cost of Revenue	US$172.20m
Gross Profit	US$103.25m
Other Expenses	US$230.02m
Earnings	-US$126.77m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-0.81
Gross Margin	37.48%
Net Profit Margin	-46.02%
Debt/Equity Ratio	0%

How did GLBE perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

1/6

Valuation Score 1/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for GLBE. This is calculated by dividing GLBE's market cap by their current preferred multiple.
What is GLBE's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$3.54b

GLBE 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/Revenue	11.9x
Enterprise Value/EBITDA	448.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does GLBE's PS Ratio compare to its peers?

GLBE PS Ratio vs Peers

The above table shows the PS ratio for GLBE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	2x
FTCH Farfetch	1.5x	15.1%	US$3.4b
SSU SIGNA Sports United	2.2x	23.8%	US$2.3b
DADA Dada Nexus	2.1x	29.6%	US$2.2b
RVLV Revolve Group	2.1x	18.1%	US$2.1b
GLBE Global-e Online	12.8x	28.8%	US$3.5b

Forward PS

Price-To-Sales vs Peers: GLBE is expensive based on its Price-To-Sales Ratio (12.8x) compared to the peer average (2x).

Price to Earnings Ratio vs Industry

How does GLBE's PE Ratio compare vs other companies in the US Online Retail Industry?

Price-To-Sales vs Industry: GLBE is expensive based on its Price-To-Sales Ratio (12.8x) compared to the US Online Retail industry average (1x)

Price to Sales Ratio vs Fair Ratio

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

GLBE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	12.8x
Fair PS Ratio	2.7x

Price-To-Sales vs Fair Ratio: GLBE is expensive based on its Price-To-Sales Ratio (12.8x) compared to the estimated Fair Price-To-Sales Ratio (2.7x).

Share Price vs Fair Value

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

Below Fair Value: GLBE ($22.6) is trading below our estimate of fair value ($23.08)

Significantly Below Fair Value: GLBE is trading below fair value, but not by a significant amount.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate GLBE's PEG Ratio to determine if it is good value.

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Future Growth

How is Global-e Online forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

15.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: GLBE is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: GLBE is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: GLBE is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: GLBE's revenue (28.8% per year) is forecast to grow faster than the US market (8.4% per year).

High Growth Revenue: GLBE's revenue (28.8% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: GLBE is forecast to be unprofitable in 3 years.

Discover growth companies

Past Performance

How has Global-e Online performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-81.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GLBE is currently unprofitable.

Growing Profit Margin: GLBE is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: GLBE is unprofitable, and losses have increased over the past 5 years at a rate of 81.4% per year.

Accelerating Growth: Unable to compare GLBE's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: GLBE is unprofitable, making it difficult to compare its past year earnings growth to the Online Retail industry (-18.3%).

Return on Equity

High ROE: GLBE has a negative Return on Equity (-13.53%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Global-e Online's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: GLBE's short term assets ($382.1M) exceed its short term liabilities ($125.0M).

Long Term Liabilities: GLBE's short term assets ($382.1M) exceed its long term liabilities ($18.2M).

Debt to Equity History and Analysis

Debt Level: GLBE is debt free.

Reducing Debt: GLBE had no debt 5 years ago.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable GLBE has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: GLBE is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 47.3% per year.

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Dividend

What is Global-e Online 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
Future Dividend Coverage

Dividend Yield vs Market

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

High Dividend: Unable to evaluate GLBE'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 GLBE's dividends per share have been stable in the past.

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

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

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

Discover strong dividend paying companies

Management

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

1.4yrs

Average management tenure

CEO

Amir Schlachet (44 yo)

9.08yrs

Tenure

Mr. Amir Schlachet is the Co-Founder and Chief Executive Officer of Globale U.K. Limited. Mr. Schlachet is a Co-Founder of Global-E Online Ltd.and has been its Chief Executive Officer since May 1, 2013. H...

Leadership Team

Experienced Management: GLBE's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.

Board Members

Experienced Board: GLBE's board of directors are not considered experienced ( 2.3 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.

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.3%.

Data	Last Updated (UTC time)
Company Analysis	2022/06/27 00:00
End of Day Share Price	2022/06/27 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31