Latest Ratios: P/E Ratio 3.4x · EV/EBITDA 3.4x · ROE 25.5%. (2006–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.4B | $1.3B | $777M | $712M | $619M | $813M | $214M | $107M | $37M | $64M | $83M |
| Enterprise Value | $1.8B | $1.6B | $1.3B | $1.4B | $1.5B | $2.0B | $902M | $866M | $832M | $389M | $449M |
| P/E Ratio → | 3.42 | 3.07 | 2.25 | 2.41 | 2.19 | 4.98 | 5.15 | 6.09 | — | — | — |
| P/S Ratio | 1.83 | 1.63 | 1.10 | 1.07 | 1.02 | 2.02 | 0.76 | 0.41 | 0.23 | 0.40 | 0.50 |
| P/B Ratio | 0.77 | 0.69 | 0.53 | 0.60 | 0.64 | 1.14 | 0.46 | 0.26 | 0.12 | 0.26 | 0.25 |
| P/FCF | 3.90 | 3.48 | 4.14 | 3.20 | 1.95 | — | 3.69 | — | 1.10 | 1.21 | 1.29 |
| P/OCF | 2.65 | 2.37 | 1.81 | 1.90 | 1.89 | 3.28 | 2.05 | 1.15 | 0.77 | 1.11 | 1.16 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.11 | 1.87 | 2.08 | 2.43 | 4.96 | 3.20 | 3.32 | 5.30 | 2.45 | 2.69 |
| EV / EBITDA | 3.37 | 3.08 | 2.75 | 3.19 | 3.37 | 6.67 | 5.94 | 5.50 | 33.02 | 17.19 | 20.09 |
| EV / EBIT | 4.54 | 4.16 | 3.35 | 3.96 | 3.99 | 8.29 | 8.43 | 7.54 | — | — | — |
| EV / FCF | — | 4.50 | 7.03 | 6.23 | 4.61 | — | 15.55 | — | 24.89 | 7.36 | 6.98 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.6% | 53.6% | 55.4% | 55.8% | 55.4% | 49.1% | 43.0% | 46.1% | 45.1% | 48.8% | 46.9% |
| Operating Margin | 50.7% | 50.7% | 53.7% | 51.5% | 58.6% | 59.0% | 37.1% | 42.7% | -6.5% | -9.6% | -12.3% |
| Net Profit Margin | 54.3% | 54.3% | 50.1% | 45.7% | 48.5% | 42.6% | 14.7% | 15.3% | -36.5% | -46.7% | -39.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 25.5% | 25.5% | 26.7% | 28.3% | 34.9% | 29.1% | 9.5% | 11.0% | -20.2% | -25.6% | -17.9% |
| ROA | 15.9% | 15.9% | 15.6% | 14.2% | 14.3% | 10.5% | 3.2% | 3.1% | -6.0% | -10.2% | -7.7% |
| ROIC | 14.0% | 14.0% | 14.7% | 14.0% | 14.3% | 11.7% | 6.8% | 7.4% | -0.9% | -1.8% | -2.0% |
| ROCE | 16.7% | 16.7% | 19.0% | 18.4% | 19.7% | 16.3% | 8.8% | 9.5% | -1.2% | -2.3% | -2.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.38 | 0.38 | 0.47 | 0.69 | 1.00 | 1.75 | 1.66 | 2.21 | 2.77 | 1.58 | 1.28 |
| Debt / EBITDA | 1.31 | 1.31 | 1.43 | 1.87 | 2.22 | 4.18 | 5.07 | 5.70 | 34.82 | 17.59 | 18.81 |
| Net Debt / Equity | — | 0.20 | 0.37 | 0.57 | 0.88 | 1.66 | 1.48 | 1.87 | 2.51 | 1.29 | 1.11 |
| Net Debt / EBITDA | 0.70 | 0.70 | 1.13 | 1.55 | 1.95 | 3.95 | 4.53 | 4.82 | 31.56 | 14.36 | 16.38 |
| Debt / FCF | — | 1.01 | 2.89 | 3.03 | 2.67 | — | 11.86 | — | 23.79 | 6.14 | 5.69 |
| Interest Coverage | 9.98 | 9.98 | 9.69 | 7.80 | 4.89 | 3.48 | 1.64 | 1.53 | -0.18 | -0.25 | -0.45 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.04 | 2.04 | 1.14 | 1.05 | 0.91 | 0.59 | 0.88 | 1.25 | 1.04 | 1.36 | 1.19 |
| Quick Ratio | 2.00 | 2.00 | 1.07 | 1.00 | 0.86 | 0.54 | 0.82 | 1.21 | 0.98 | 1.34 | 1.18 |
| Cash Ratio | 1.71 | 1.71 | 0.63 | 0.54 | 0.49 | 0.31 | 0.73 | 1.07 | 0.86 | 1.28 | 1.13 |
| Asset Turnover | — | 0.27 | 0.30 | 0.31 | 0.29 | 0.20 | 0.22 | 0.19 | 0.13 | 0.24 | 0.21 |
| Inventory Turnover | 24.35 | 24.35 | 16.65 | 18.68 | 22.06 | 17.96 | 25.49 | 25.15 | 14.96 | 109.75 | 160.04 |
| Days Sales Outstanding | — | 23.83 | 6.64 | 2.94 | 2.63 | 5.55 | 6.16 | 11.07 | 10.47 | 5.40 | 2.16 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.5% | 6.1% | 7.5% | 7.5% | 8.2% | 3.4% | 1.9% | 2.9% | 8.3% | 4.8% | 3.7% |
| Payout Ratio | 18.3% | 18.3% | 16.5% | 17.5% | 17.2% | 16.3% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 29.2% | 32.5% | 44.5% | 41.4% | 45.8% | 20.1% | 19.4% | 16.4% | — | — | — |
| FCF Yield | 25.7% | 28.7% | 24.2% | 31.3% | 51.4% | — | 27.1% | — | 90.6% | 82.4% | 77.5% |
| Buyback Yield | 0.0% | 0.0% | 0.6% | 3.1% | 3.2% | 1.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.5% | 6.1% | 8.2% | 10.6% | 11.4% | 4.7% | 1.9% | 2.9% | 8.3% | 4.8% | 3.7% |
| Shares Outstanding | — | $36M | $36M | $36M | $37M | $36M | $18M | $12M | $7M | $7M | $7M |
Charter Renewal Rate Sensitivity
Based on current market data, GSL trades at a P/E of 3.31 and a P/B of 0.75, suggesting that investors are heavily discounting the company's earnings power and asset base relative to its historical performance and the broader industrial shipping peer group.
The low P/E multiple implies that the market remains skeptical of the sustainability of current charter rates, despite the company's long-term contract backlog. This valuation gap warrants further investigation into whether the market is mispricing the scarcity value of GSL's mid-sized containership fleet compared to larger, more volatile peers.
According to recent financial disclosures, GSL's ROIC has trended between 3.0% and 4.8% over the last ten quarters, indicating that while the company is generating positive returns, its ability to compound capital is constrained by the capital-intensive nature of maintaining an aging containership fleet.
The modest ROIC suggests that management's focus on deleveraging has prioritized balance sheet integrity over aggressive growth, which may limit near-term return expansion. Investors should monitor whether future fleet renewals or environmental retrofits can improve these returns or if they will act as a drag on capital efficiency.
As reported in quarterly filings, GSL's cash conversion cycle has fluctuated significantly, moving from a positive 6 days in 2024Q4 to a negative 23 days in 2026Q1, reflecting the company's evolving ability to manage supplier payment terms against its recurring charter revenue streams.
The shift toward a negative cash conversion cycle suggests improved working capital efficiency, likely driven by the company's ability to collect charter payments ahead of operational outflows. This trend appears to strengthen the company's liquidity position, providing a buffer against the inherent volatility of the marine shipping sector.
The P/E ratio is frequently misapplied to GSL, as it fails to account for the non-cash depreciation charges inherent in a capital-intensive shipping business, which significantly distorts the company's true economic earning power and cash-generating capacity compared to more traditional industrial service providers.
Analysts should instead prioritize EV/EBITDA or Charter-Adjusted Net Asset Value (NAV) to better capture the underlying value of the fleet and the stability of the contracted cash flows. Relying solely on P/E may lead to an inaccurate assessment of the company's valuation, as it ignores the significant non-operating items and depreciation that characterize GSL's financial statements.
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Quick answers to the most common questions about buying GSL stock.
Global Ship Lease, Inc.'s current P/E ratio is 3.4x. The historical average is 6.8x. This places it at the 50th percentile of its historical range.
Global Ship Lease, Inc.'s current EV/EBITDA is 3.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.7x.
Global Ship Lease, Inc.'s return on equity (ROE) is 25.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 7.1%.
Based on historical data, Global Ship Lease, Inc. is trading at a P/E of 3.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Global Ship Lease, Inc.'s current dividend yield is 5.46% with a payout ratio of 18.3%.
Global Ship Lease, Inc. has 53.6% gross margin and 50.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Global Ship Lease, Inc.'s Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.