Globus Maritime (NasdaqCM:GLBS) - Share price, News & Analysis

GLBS fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	2/6
Financial Health	6/6
Dividends	0/6

GLBS Stock Overview

Globus Maritime Limited, an integrated dry bulk shipping company, provides marine transportation services worldwide.

Rewards

Price-To-Earnings ratio (1.2x) is below the US market (15.5x)

Became profitable this year

Risk Analysis

Earnings are forecast to decline by an average of 2.8% per year for the next 3 years

High level of non-cash earnings

Shareholders have been substantially diluted in the past year

Does not have a meaningful market cap ($34M)

Globus Maritime Competitors

EuroDry

NasdaqCM:EDRY

US$48.4m

Navios Maritime Holdings

NYSE:NM

US$51.6m

Euroseas

NasdaqCM:ESEA

US$184.2m

Seanergy Maritime Holdings

NasdaqCM:SHIP

US$127.6m

Price History & Performance

Summary of all time highs, changes and price drops for Globus Maritime
Historical stock prices
Current Share Price	US$1.64
52 Week High	US$3.46
52 Week Low	US$1.48
Beta	0.089
1 Month Change	-2.38%
3 Month Change	-31.02%
1 Year Change	-43.45%
3 Year Change	-99.11%
5 Year Change	-99.83%
Change since IPO	-100.00%

Recent News & Updates

Jul 05

Returns On Capital Are Showing Encouraging Signs At Globus Maritime (NASDAQ:GLBS)

To find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is...

Shareholder Returns

	GLBS	US Shipping	US Market
7D	-0.3%	-2.0%	1.0%
1Y	-43.4%	11.3%	-12.8%

Return vs Industry: GLBS underperformed the US Shipping industry which returned 9.8% over the past year.

Return vs Market: GLBS underperformed the US Market which returned -12.7% over the past year.

Price Volatility

Is GLBS's price volatile compared to industry and market?
GLBS volatility
GLBS Average Weekly Movement	10.0%
Shipping Industry Average Movement	8.8%
Market Average Movement	8.1%
10% most volatile stocks in US Market	17.3%
10% least volatile stocks in US Market	3.2%

Stable Share Price: GLBS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: GLBS's weekly volatility (10%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2006	22	Thanos Feidakis	https://www.globusmaritime.gr

Globus Maritime Limited, an integrated dry bulk shipping company, provides marine transportation services worldwide. It owns, operates, and manages a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes. As of March 31, 2022, the company’s fleet included nine vessels with a total carrying capacity of 626,257 deadweight tonnage.

Globus Maritime Fundamentals Summary

How do Globus Maritime's earnings and revenue compare to its market cap?
GLBS fundamental statistics
Market Cap	US$33.75m
Earnings (TTM)	US$27.80m
Revenue (TTM)	US$56.66m

1.2x

P/E Ratio

0.6x

P/S Ratio

Is GLBS overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
GLBS income statement (TTM)
Revenue	US$56.66m
Cost of Revenue	US$19.70m
Gross Profit	US$36.96m
Other Expenses	US$9.16m
Earnings	US$27.80m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	1.35
Gross Margin	65.24%
Net Profit Margin	49.07%
Debt/Equity Ratio	19.0%

How did GLBS perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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 GLBS?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for GLBS. This is calculated by dividing GLBS's market cap by their current preferred multiple.
What is GLBS's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$33.75m

GLBS 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	0.2x
Enterprise Value/EBITDA	0.4x
PEG Ratio	-0.4x

Price to Earnings Ratio vs Peers

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

GLBS PE Ratio vs Peers

The above table shows the PE ratio for GLBS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	1.7x
EDRY EuroDry	1.2x	1.2%	US$48.4m
NM Navios Maritime Holdings	0.5x	n/a	US$51.6m
ESEA Euroseas	2.7x	22.2%	US$184.2m
SHIP Seanergy Maritime Holdings	2.5x	-16.0%	US$127.6m
GLBS Globus Maritime	1.2x	-2.8%	US$33.8m

Price-To-Earnings vs Peers: GLBS is good value based on its Price-To-Earnings Ratio (1.2x) compared to the peer average (1.7x).

Price to Earnings Ratio vs Industry

How does GLBS's PE Ratio compare vs other companies in the US Shipping Industry?

Price-To-Earnings vs Industry: GLBS is good value based on its Price-To-Earnings Ratio (1.2x) compared to the US Shipping industry average (2.6x)

Price to Earnings Ratio vs Fair Ratio

What is GLBS'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.

GLBS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	1.2x
Fair PE Ratio	5.1x

Price-To-Earnings vs Fair Ratio: GLBS is good value based on its Price-To-Earnings Ratio (1.2x) compared to the estimated Fair Price-To-Earnings Ratio (5.1x).

Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate GLBS's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate GLBS's fair value 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?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Globus Maritime forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

0/6

Future Growth Score 0/6

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

-2.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: GLBS's earnings are forecast to decline over the next 3 years (-2.8% per year).

Earnings vs Market: GLBS's earnings are forecast to decline over the next 3 years (-2.8% per year).

High Growth Earnings: GLBS's earnings are forecast to decline over the next 3 years.

Revenue vs Market: GLBS's revenue (5.6% per year) is forecast to grow slower than the US market (7.9% per year).

High Growth Revenue: GLBS's revenue (5.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: GLBS's Return on Equity is forecast to be low in 3 years time (14.5%).

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Past Performance

How has Globus Maritime 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

5.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GLBS has a high level of non-cash earnings.

Growing Profit Margin: GLBS became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: GLBS has become profitable over the past 5 years, growing earnings by 5.6% per year.

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

Earnings vs Industry: GLBS has become profitable in the last year, making it difficult to compare its past year earnings growth to the Shipping industry (258.2%).

Return on Equity

High ROE: GLBS's Return on Equity (17.5%) is considered low.

Discover strong past performing companies

Financial Health

How is Globus Maritime's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: GLBS's short term assets ($61.3M) exceed its short term liabilities ($11.2M).

Long Term Liabilities: GLBS's short term assets ($61.3M) exceed its long term liabilities ($25.8M).

Debt to Equity History and Analysis

Debt Level: GLBS has more cash than its total debt.

Reducing Debt: GLBS's debt to equity ratio has reduced from 101.8% to 19% over the past 5 years.

Debt Coverage: GLBS's debt is well covered by operating cash flow (101.8%).

Interest Coverage: GLBS's interest payments on its debt are well covered by EBIT (32.4x coverage).

Balance Sheet

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Dividend

What is Globus Maritime 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

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

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

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

Earnings Payout to Shareholders

Earnings Coverage: GLBS is not paying a notable dividend for the US market.

Cash Payout to Shareholders

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

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Management

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

9.7yrs

Average management tenure

CEO

Thanos Feidakis (35 yo)

6.67yrs

Tenure

Mr. Athanasios Feidakis, also known as Thanos, has been the Chief Executive Officer, President and Chief Financial Officer of Globus Maritime Limited since December 28, 2015. Mr. Feidakis had been the Pres...

Leadership Team

Experienced Management: GLBS's management team is seasoned and experienced (9.7 years average tenure).

Board Members

Experienced Board: GLBS's board of directors are seasoned and experienced ( 10.6 years average tenure).

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 substantially diluted in the past year, with total shares outstanding growing by 94.7%.

Data	Last Updated (UTC time)
Company Analysis	2022/08/06 00:00
End of Day Share Price	2022/08/05 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31