NYSE:GSL

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

Good value with moderate growth potential.

Share Price & News

How has Global Ship Lease's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: GSL's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-7.3%

GSL

-2.8%

US Shipping

-1.1%

US Market


1 Year Return

-3.1%

GSL

-39.3%

US Shipping

15.6%

US Market

Return vs Industry: GSL exceeded the US Shipping industry which returned -39.3% over the past year.

Return vs Market: GSL underperformed the US Market which returned 15.6% over the past year.


Shareholder returns

GSLIndustryMarket
7 Day-7.3%-2.8%-1.1%
30 Day17.6%12.1%4.2%
90 Day62.3%9.9%6.3%
1 Year-3.1%-3.1%-37.7%-39.3%18.2%15.6%
3 Year-38.4%-38.4%-22.5%-28.7%39.6%30.4%
5 Year-78.1%-78.7%-46.7%-54.9%79.5%59.2%

Price Volatility Vs. Market

How volatile is Global Ship Lease's share price compared to the market and industry in the last 5 years?


Simply Wall St News

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 ($7.14) is trading below our estimate of fair value ($33.32)

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 (10x) compared to the US Shipping industry average (9.8x).

PE vs Market: GSL is good value based on its PE Ratio (10x) compared to the US market (18.9x).


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's PB Ratio (0.3x) is in line with the US Shipping industry average.


Next Steps

Future Growth

How is Global Ship Lease forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

41.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GSL's forecast earnings growth (41% per year) is above the savings rate (2.2%).

Earnings vs Market: GSL's earnings (41% per year) are forecast to grow faster than the US market (22.2% per year).

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

Revenue vs Market: GSL's revenue (0.4% per year) is forecast to grow slower than the US market (10% per year).

High Growth Revenue: GSL's revenue (0.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GSL's Return on Equity is forecast to be low in 3 years time (10.7%).


Next Steps

Past Performance

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

2.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GSL has a large one-off loss of $10.8M impacting its June 30 2020 financial results.

Growing Profit Margin: GSL became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: GSL has become profitable over the past 5 years, growing earnings by 2.7% per year.

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

Earnings vs Industry: GSL has become profitable in the last year, making it difficult to compare its past year earnings growth to the Shipping industry (-5%).


Return on Equity

High ROE: GSL's Return on Equity (8.3%) is considered low.


Next Steps

Financial Health

How is Global Ship Lease's financial position?


Financial Position Analysis

Short Term Liabilities: GSL's short term assets ($114.2M) do not cover its short term liabilities ($115.1M).

Long Term Liabilities: GSL's short term assets ($114.2M) do not cover its long term liabilities ($754.3M).


Debt to Equity History and Analysis

Debt Level: GSL's debt to equity ratio (194.9%) is considered high.

Reducing Debt: GSL's debt to equity ratio has increased from 103.6% to 194.9% over the past 5 years.

Debt Coverage: GSL's debt is not well covered by operating cash flow (11.5%).

Interest Coverage: GSL's interest payments on its debt are not well covered by EBIT (1.7x coverage).


Balance Sheet


Next Steps

Dividend

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


Dividend Yield vs Market

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

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

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


Current Payout to Shareholders

Dividend Coverage: GSL is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of GSL's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

1.9yrs

Average management tenure


CEO

Ian Webber (62 yo)

12.17yrs

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 5 years and was employ ...


Leadership Team

NamePositionTenureCompensationOwnership
Georgios Youroukos
Executive Chairman1.92yrsno data8.19%
$ 10.5m
Ian Webber
Chief Executive Officer12.17yrsno data0.38%
$ 493.4k
Anastasios Psaropoulos
CFO & Treasurer1.92yrsno data0.076%
$ 97.7k
Thomas Lister
Chief Commercial Officerno datano data0.19%
$ 241.3k
George Giannopoulos
Head of Internal Audit1.92yrsno datano data
Maria Danezi
Company Secretary1.92yrsno datano data

1.9yrs

Average Tenure

52.5yo

Average Age

Experienced Management: GSL's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Georgios Youroukos
Executive Chairman1.92yrsno data8.19%
$ 10.5m
Michael Gross
Independent Directorno datano data7.47%
$ 9.6m
Henry Mannix
Independent Director1.92yrsno datano data
Alain Wils
Independent Director6.42yrsno data0.0073%
$ 9.4k
Michael Chalkias
Independent Director1.92yrsno datano data
Philippe Lemonnier
Director3.08yrsno datano data
Menno Van Lacum
Independent Director1.92yrsno data0.077%
$ 98.5k
Alain Pitner
Independent Director1.92yrsno datano data

1.9yrs

Average Tenure

58yo

Average Age

Experienced Board: GSL'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

Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: Global Ship Lease, Inc.
  • Ticker: GSL
  • Exchange: NYSE
  • Founded:
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: US$128.456m
  • Shares outstanding: 17.99m
  • Website: https://www.globalshiplease.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GSLNYSE (New York Stock Exchange)YesClass A Common StockUSUSDAug 2008
37HDB (Deutsche Boerse AG)YesClass A Common StockDEEURAug 2008
GSL.PRBNYSE (New York Stock Exchange)DEP SH SER-BUSUSDAug 2014

Biography

Global Ship Lease, Inc. owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of March 31, 2020, it owned 45 containerships with an aggregate capac ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/27 00:38
End of Day Share Price2020/10/26 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.