NYSE:GSL

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Fair value with imperfect balance sheet.


Similar Companies

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


Market Performance


7 Day Return

-2.1%

GSL

0.3%

US Shipping

0.4%

US Market


1 Year Return

4.9%

GSL

0.3%

US Shipping

6.9%

US Market

Return vs Industry: GSL exceeded the US Shipping industry which returned 0.3% over the past year.

Return vs Market: GSL underperformed the US Market which returned 6.9% over the past year.


Shareholder returns

GSLIndustryMarket
7 Day-2.1%0.3%0.4%
30 Day-3.6%1.9%-1.1%
90 Day-9.3%3.5%-0.5%
1 Year4.9%4.9%2.0%0.3%9.3%6.9%
3 Year-33.3%-33.3%21.4%13.1%45.8%36.4%
5 Year-71.1%-72.4%-59.4%-62.5%62.9%45.1%

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

Undervalued: GSL ($7.52) is trading below our estimate of fair value ($94.35)

Significantly Undervalued: GSL is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: GSL is unprofitable, so we can't compare its PE Ratio to the Shipping industry average.

PE vs Market: GSL is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: GSL is good value based on its PB Ratio (0.2x) compared to the US Shipping industry average (0.6x).


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?

84.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

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

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

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

Revenue vs Market: GSL's revenue (14% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: GSL's revenue (14% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: GSL's Return on Equity is forecast to be low in 3 years time (18.6%).


Next Steps

Past Performance

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

-42.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: GSL is unprofitable, and losses have increased over the past 5 years at a rate of -42.6% per year.

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

Earnings vs Industry: GSL is unprofitable, making it difficult to compare its past year earnings growth to the Shipping industry (-62.3%).


Return on Equity

High ROE: GSL has a negative Return on Equity (-13.94%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: GSL is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: GSL is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Global Ship Lease's financial position?


Financial Position Analysis

Short Term Liabilities: GSL's short term assets ($99.5M) do not cover its short term liabilities ($104.2M)

Long Term Liabilities: GSL's short term assets (99.5M) do not cover its long term liabilities (797.0M)


Debt to Equity History and Analysis

Debt Level: GSL's debt to equity ratio (258.1%) is considered high

Reducing Debt: GSL's debt to equity ratio has increased from 114.8% to 258.1% over the past 5 years.


Balance Sheet

Inventory Level: GSL has a high level of physical assets or inventory.

Debt Coverage by Assets: GSL's debt is not covered by short term assets (assets are 0.1x debt).


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 GSL has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: GSL is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -11.2% per year.


Next Steps

Dividend

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

9.75%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%1.4%markettop25%3.7%industryaverage4.2%forecastin3Years9.8%

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

What is the CEO of Global Ship Lease's salary, the management and board of directors tenure and is there insider trading?

0.9yrs

Average board tenure


CEO

Ian Webber (61yo)

11.2yrs

Tenure

0

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 ...


Board Age and Tenure

0.9yrs

Average Tenure

57yo

Average Age

Experienced Board: GSL's board of directors are not considered experienced ( 0.9 years average tenure), which suggests a new board.


Insider Trading

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


Ownership Breakdown


Management Team

  • Ian Webber (61yo)

    Chief Executive Officer

    • Tenure: 11.2yrs
  • Tom Lister (49yo)

    Chief Commercial Officer

    • Tenure: 0yrs
  • George Giouroukos (54yo)

    Executive Chairman

    • Tenure: 0.9yrs
  • Tassos Psaropoulos (41yo)

    CFO & Treasurer

    • Tenure: 0.9yrs

Board Members

  • Michael Gross (57yo)

    Independent Director

    • Tenure: 0yrs
  • Hank Mannix

    Independent Director

    • Tenure: 0.9yrs
  • Alain Wils (76yo)

    Independent Director

    • Tenure: 5.4yrs
  • Michael Chalkias (49yo)

    Independent Director

    • Tenure: 0.9yrs
  • George Giouroukos (54yo)

    Executive Chairman

    • Tenure: 0.9yrs
  • Philippe Lemonnier (59yo)

    Director

    • Tenure: 2.1yrs
  • Menno Van Lacum (49yo)

    Independent Director

    • Tenure: 0.9yrs
  • Alain Pitner (70yo)

    Independent Director

    • Tenure: 0.9yrs

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$133.907m
  • Shares outstanding: 17.81m
  • 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 June 30, 2019, it owned 40 ships. The company is based in London,  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/20 00:01
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.