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GSL

Global Ship LeaseNYSE:GSL Stock Report

Market Cap

US$879.7m

7D

-0.7%

1Y

300.2%

Updated

25 Sep, 2021

Data

Company Financials +
GSL fundamental analysis
Snowflake Score
Valuation3/6
Future Growth5/6
Past Performance4/6
Financial Health1/6
Dividends3/6

GSL Overview

Global Ship Lease, Inc. owns and charters containerships of various sizes under fixed-rate charters to container shipping companies.

Price History & Performance

Summary of all time highs, changes and price drops for Global Ship Lease
Historical stock prices
Current Share PriceUS$24.29
52 Week HighUS$6.07
52 Week LowUS$25.44
Beta2.12
1 Month Change22.06%
3 Month Change16.50%
1 Year Change300.17%
3 Year Change176.02%
5 Year Change82.91%
Change since IPO-60.26%

Recent News & Updates

Sep 02

Global Ship Lease's Preferred Shares: A Bet On Them Not Being Called

Global Ship Lease will see its EBITDA explode in H2 and FY 2022. The net income and free cash flow will increase. I like the risk/reward of the preferred shares of Global Ship, where retiring the preferred shares right away is the biggest risk. The downside risk appears to be very limited.

Sep 02
Global Ship Lease's (NYSE:GSL) Returns Have Hit A Wall

Global Ship Lease's (NYSE:GSL) Returns Have Hit A Wall

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Firstly, we'd want to identify a...

Shareholder Returns

GSLUS ShippingUS Market
7D-0.7%-2.7%0.1%
1Y300.2%137.6%35.3%

Return vs Industry: GSL exceeded the US Shipping industry which returned 137.6% over the past year.

Return vs Market: GSL exceeded the US Market which returned 35.3% over the past year.

Price Volatility

Is GSL's price volatile compared to industry and market?
GSL volatility
GSL Beta2.12
Industry Beta1.37
Market Beta1

Stable Share Price: GSL is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: GSL's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a7Ian Webberhttps://www.globalshiplease.com

Global Ship Lease, Inc. owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of March 10, 2021, it owned 43 mid-sized and smaller containerships with an aggregate capacity of 245,280 twenty-foot equivalent units. The company is based in London, the United Kingdom.

Global Ship Lease Fundamentals Summary

How do Global Ship Lease's earnings and revenue compare to its market cap?
GSL fundamental statistics
Market CapUS$879.71m
Earnings (TTM)US$42.68m
Revenue (TTM)US$296.34m

20.6x

P/E Ratio

3.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GSL income statement (TTM)
RevenueUS$296.34m
Cost of RevenueUS$114.42m
Gross ProfitUS$181.92m
ExpensesUS$139.24m
EarningsUS$42.68m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.18
Gross Margin61.39%
Net Profit Margin14.40%
Debt/Equity Ratio138.4%

How did GSL perform over the long term?

See historical performance and comparison

Dividends

4.1%

Current Dividend Yield

43%

Payout Ratio

Valuation

Is Global Ship Lease undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: GSL ($24.29) is trading below our estimate of fair value ($306.7)

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


Price To Earnings Ratio

PE vs Industry: GSL is poor value based on its PE Ratio (20.6x) compared to the US Shipping industry average (11x).

PE vs Market: GSL is poor value based on its PE Ratio (20.6x) compared to the US market (17.9x).


Price to Earnings Growth Ratio

PEG Ratio: GSL is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: GSL is overvalued based on its PB Ratio (1.5x) compared to the US Shipping industry average (1.1x).


Future Growth

How is Global Ship Lease forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

102.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GSL's forecast earnings growth (102.4% per year) is above the savings rate (2%).

Earnings vs Market: GSL's earnings (102.4% per year) are forecast to grow faster than the US market (14.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: GSL's revenue (42.4% per year) is forecast to grow faster than the US market (9.8% per year).

High Growth Revenue: GSL's revenue (42.4% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Past Performance

How has Global Ship Lease performed over the past 5 years?

40.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GSL has high quality earnings.

Growing Profit Margin: GSL's current net profit margins (14.4%) are higher than last year (4.6%).


Past Earnings Growth Analysis

Earnings Trend: GSL has become profitable over the past 5 years, growing earnings by 40.5% per year.

Accelerating Growth: GSL's earnings growth over the past year (233.4%) exceeds its 5-year average (40.5% per year).

Earnings vs Industry: GSL earnings growth over the past year (233.4%) underperformed the Shipping industry 359.5%.


Return on Equity

High ROE: GSL's Return on Equity (10.8%) is considered low.


Financial Health

How is Global Ship Lease's financial position?


Financial Position Analysis

Short Term Liabilities: GSL's short term assets ($183.8M) exceed its short term liabilities ($128.8M).

Long Term Liabilities: GSL's short term assets ($183.8M) do not cover its long term liabilities ($730.6M).


Debt to Equity History and Analysis

Debt Level: GSL's debt to equity ratio (138.4%) is considered high.

Reducing Debt: GSL's debt to equity ratio has increased from 109.3% to 138.4% over the past 5 years.

Debt Coverage: GSL's debt is not well covered by operating cash flow (15.2%).

Interest Coverage: GSL's interest payments on its debt are not well covered by EBIT (2x coverage).


Balance Sheet


Dividend

What is Global Ship Lease current dividend yield, its reliability and sustainability?

4.12%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: GSL's dividend (4.12%) is higher than the bottom 25% of dividend payers in the US market (1.33%).

High Dividend: GSL's dividend (4.12%) is in the top 25% of dividend payers in the US market (3.6%)


Stability and Growth of Payments

Stable Dividend: GSL has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: GSL has only been paying a dividend for 6 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (42.5%), GSL's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

2.8yrs

Average management tenure


CEO

Ian Webber (63 yo)

13.08yrs

Tenure

Mr. Ian J. Webber has been the Chief Executive Officer of Global Ship Lease, Inc. (formerly GSL Holdings, Inc.) since August 2008. Mr. Webber served as Partner of PriceWaterhouse for many years and was emp...


Leadership Team

Experienced Management: GSL's management team is considered experienced (2.8 years average tenure).


Board Members

Experienced Board: GSL's board of directors are not considered experienced ( 2.8 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

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 101.3%.


Top Shareholders

Company Information

Global Ship Lease, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Global Ship Lease, Inc.
  • Ticker: GSL
  • Exchange: NYSE
  • Founded: NaN
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: US$879.706m
  • Shares outstanding: 36.22m
  • Website: https://www.globalshiplease.com

Number of Employees


Location

  • Global Ship Lease, Inc.
  • 25 Wilton Road
  • London
  • Greater London
  • SW1V 1LW
  • United Kingdom

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/25 22:10
End of Day Share Price2021/09/24 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.