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Global Ship Lease, Inc.

Global Ship Lease, Inc.

NYSE•GSL
CEO: Mr. Georgios Giouroukos Youroukos
Sector: Industrials
Industry: Marine Shipping
Listing Date: 2008-08-15
Global Ship Lease, Inc., together with its subsidiaries, engages in owning and chartering of containerships under fixed-rate charters to container shipping companies worldwide. As of March 11, 2024, it owned 68 mid-sized and smaller containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 375,406 TEU. The company was founded in 2007 and is based in Athens, Greece.
Contact Information
9 Irodou Attikou Street, Kifisia, Athens, 14561, Greece
30-210-62-33-670
www.globalshiplease.com
Market Cap
$1.30B
P/E (TTM)
3.3
12
Dividend Yield
5.9%
52W High
$36.67
52W Low
$17.73
52W Range
98%
Rank56Top 70.4%
2.9
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$192.67M+11.66%
4-Quarter Trend

EPS

$2.59+16.67%
4-Quarter Trend

FCF

$109.20M+0.09%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Time Charter Revenue Rises Operating revenues reached $711.1M in 2024, marking a 5.4% increase driven by vessel additions and higher renewal rates.
Net Income Available Growth Net income for common shareholders totaled $344.1M in 2024, showing substantial improvement over $295.0M reported in the prior year.
Fleet Expansion Completed Fleet grew to 71 vessels by year-end 2024, including delivery of three ECO 9,019 TEU vessels acquired for $274.0M total.
Credit Ratings Upgraded Moody's upgraded Corporate Credit Rating to Ba2 from Ba3; S&P upgraded issuer credit rating to BB+ from BB in June 2024.

Risk Factors

Charterer Payment Dependency Revenues rely solely on charterers fulfilling obligations; inability to recharter vessels profitably upon expiry poses material adverse risk.
Substantial Indebtedness Levels Total outstanding debt reached $691.1M as of December 31, 2024, limiting flexibility and increasing vulnerability to economic shifts.
Regulatory Compliance Costs Compliance with evolving environmental rules like EU ETS and FEUM requires significant capital expenditures and administration costs going forward.
Related Party Conflicts Risk Conflicts of interest exist between the company and its managers/Executive Chairman, potentially resulting in transactions not determined by market forces.

Outlook

Dividend Payout Increased Supplemental quarterly dividend increased by $0.075 per share, setting total quarterly dividend expectation at $0.525 starting Q1 2025.
Strategic Vessel Acquisitions Growth strategy focuses on selectively acquiring secondhand and newbuilding containerships, contingent upon favorable financing availability and market conditions.
Interest Rate Hedging Interest rate caps hedge $459.2M of floating rate debt until Q4 2026, managing exposure to SOFR volatility effectively for the medium term.
Fleet Modernization Efforts Fleet average age weighted by TEU capacity was 17.6 years as of year-end 2024, necessitating ongoing maintenance expenditures.

Peer Comparison

Revenue (TTM)

Hertz Global Holdings, Inc.HTZ
$8.52B
-7.4%
Enviri CorporationNVRI
$2.24B
-3.0%
Costamare Inc.CMRE
$1.43B
-29.3%

Gross Margin (Latest Quarter)

Costamare Inc.CMRE
55.3%
+27.3pp
Global Ship Lease, Inc.GSL
54.4%
-1.1pp
SFL Corporation Ltd.SFL
22.0%
-13.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CMRE$1.96B6.412.8%42.5%
HTZ$1.60B-0.6-14988.2%85.5%
NVRI$1.46B-9.3-37.5%59.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
2.0%
Moderate Growth
4Q Net Income CAGR
0.9%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years

  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 18, 2025|
    Revenue: $705.53M+5.8%
    |
    EPS: $9.72+16.7%
    Meet

  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 20, 2024|
    Revenue: $666.72M+10.3%
    |
    EPS: $8.33+7.6%
    Miss

  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Mar 23, 2023|
    Revenue: $604.49M+50.2%
    |
    EPS: $7.74+66.5%
    Meet

  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Mar 24, 2022|
    Revenue: $402.52M+42.6%
    |
    EPS: $4.65+100.4%
    Beat

  • Form 20-F - FY 2020

    Period End: Dec 31, 2020|Filed: Mar 19, 2021|
    Revenue: $282.81M+8.1%
    |
    EPS: $2.32+60.0%
    Beat