Global Ship Lease Inc. (GSL) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$2.42	$2.48	+2.5%	—	$192.3M	—
Q1 26	$2.44	$2.56	+4.9%	—	$191.8M	—
Q4 25	$2.41	$2.32	-3.7%	—	$187.4M	—
Q3 25	$2.37	$2.62	+10.5%	—	$189.3M	—
Q2 25	$2.31	$2.67	+15.6%	—	$188.5M	—
Q1 25	$2.33	$2.65	+13.7%	—	$187.8M	—
Q4 24	$2.31	$2.55	+10.4%	—	$181.4M	—
Q3 24	$2.41	$2.45	+1.7%	—	$172.5M	—
Q2 24	$2.29	$2.46	+7.4%	—	$173.5M	—
Q1 24	$2.3	$2.53	+10.0%	—	$178.1M	—
Q4 23	$2.35	$2.49	+6.0%	—	$177.4M	—
Q3 23	$2.15	$2.33	+8.4%	—	$173M	—
Q2 23	$2.05	$2.09	+2.0%	—	$160.4M	—
Q1 23	$1.92	$2.12	+10.4%	—	$155.9M	—
Q4 22	$1.75	$2.14	+22.3%	—	$156.6M	—
Q3 22	$1.78	$2.38	+33.7%	—	$163.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$11.4	—	—	$753M	—
FY24	—	$9.74	—	—	$705.5M	—
FY23	—	$8.33	—	—	$666.7M	—
FY22	—	$7.87	—	—	$604.5M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$166.8M	$159.3M	$157.1M	$263M	$282.3M	$402.5M	$604.5M	$666.7M	$705.5M	$753M
YoY change	+1.16%	-4.53%	-1.37%	+67.4%	+7.31%	+42.6%	+50.2%	+10.3%	+5.82%	+6.72%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	166.8M	159.3M	157.1M	263M	282.3M	402.5M	604.5M	666.7M	705.5M	753M
Cost of revenue	88.9M	81.6M	86.3M	140.7M	161M	205M	269.9M	294.5M	314.8M	355.5M
Gross profit	78M	77.6M	70.8M	122.3M	121.3M	197.6M	334.6M	372.2M	390.7M	397.4M
Gross margin	46.7%	48.7%	45.1%	46.5%	43%	49.1%	55.4%	55.8%	55.4%	52.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	6.2M	5.4M	9.2M	8.8M	8.3M	13.2M	18.5M	18.2M	17.1M	22.1M
Operating expenses	6M	5.3M	9.2M	8.8M	8.3M	13.2M	18.5M	18.2M	17.1M	22.1M
Operating income	71.7M	72.3M	61.6M	113.5M	113M	184.3M	316.1M	354M	373.6M	375.4M
Operating margin	43%	45.4%	39.2%	43.2%	40%	45.8%	52.3%	53.1%	53%	49.9%
Non-operating income, net	-92.2M	-87.6M	-71.6M	-456K	-6.9M	56M	49.6M	-14M	4M	60.9M
Pretax income	-65M	-74.2M	-57.3M	39.8M	41.6M	171.6M	292.9M	304.9M	353.6M	416.5M
Income tax	46K	40K	55K	3K	49K	56K	-50K	448K	1K	0
Net income	-65.1M	-74.3M	-57.4M	39.8M	41.6M	171.5M	292.9M	304.5M	353.6M	416.5M
Net margin	-39%	-46.6%	-36.5%	15.1%	14.7%	42.6%	48.5%	45.7%	50.1%	55.3%
EBITDA	112.9M	109M	97.4M	160.7M	162.7M	294.6M	442.8M	465.7M	499.5M	536.1M
EPS	-11.4	-12.9	-7.44	1.48	2.09	4.48	7.87	8.33	9.74	11.4
Diluted EPS	-11.4	-12.9	-7.44	1.48	2.09	4.48	7.87	8.33	9.74	11.4

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	173M	177.4M	178.1M	173.5M	172.5M	181.4M	187.8M	188.5M	189.3M	187.4M	191.8M	192.3M
Cost of revenue	76.1M	76.7M	77.4M	77.1M	78M	82.3M	86.3M	85.9M	89.7M	93.6M	91.8M	97.6M
Gross profit	96.9M	100.6M	100.7M	96.4M	94.6M	99.1M	101.4M	102.6M	99.6M	93.8M	100M	94.6M
Gross margin	56%	56.7%	56.5%	55.6%	54.8%	54.6%	54%	54.4%	52.6%	50.1%	52.1%	49.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	4.2M	4.5M	5.1M	4M	3.9M	4.1M	4.6M	4.1M	3.7M	9.7M	8.8M	7.2M
Operating expenses	4.2M	4.5M	5.1M	4M	3.9M	4.1M	4.6M	4.1M	3.7M	9.7M	8.8M	7.2M
Operating income	92.6M	96.2M	95.6M	92.3M	90.7M	95M	96.8M	98.6M	95.9M	84.1M	91.2M	87.4M
Operating margin	53.5%	54.2%	53.7%	53.2%	52.5%	52.4%	51.6%	52.3%	50.6%	44.9%	47.5%	45.5%
Non-operating income, net	1.5M	-20.4M	3.1M	1.4M	-1.7M	1.1M	33.2M	2.8M	3.3M	21.6M	6.3M	8.1M
Pretax income	85.1M	67.5M	91.9M	88M	81.1M	92.6M	123.4M	95.4M	95M	102.6M	93.8M	91.7M
Income tax	0	443K	0	1K	0	0	0	0	0	0	0	0
Net income	85.1M	67M	91.9M	88M	81.1M	92.6M	123.4M	95.4M	95M	102.6M	93.8M	91.7M
Net margin	49.2%	37.8%	51.6%	50.7%	47%	51%	65.7%	50.6%	50.2%	54.8%	48.9%	47.7%
EBITDA	118.8M	132.8M	124.9M	125M	121.3M	131.3M	133M	137.7M	133M	135.7M	131.3M	129.1M
EPS	2.34	1.84	2.53	—	2.34	2.54	3.4	2.61	2.59	2.79	2.54	2.48
Diluted EPS	2.34	1.84	2.53	—	2.34	2.54	3.4	2.61	2.59	2.79	2.54	2.48

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	82.9M	64.2M	36.9M	—	—	—	599.2M	701.7M	771M	1.3B	1.6B
Enterprise value	448.5M	389.5M	832.1M	—	—	—	1.4B	1.4B	1.3B	1.5B	1.7B
Shares outstanding	6.9M	6.9M	7.4M	11.9M	18M	36.5M	36M	35.4M	35.3M	35.7M	35.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	2.05	2.3	2.18	3	4.32
P/S	0.5	0.4	0.23	—	—	—	0.99	1.05	1.09	1.66	2.1
P/B	0.25	0.26	0.12	—	—	—	0.62	0.59	0.53	0.69	0.82
EV/EBITDA	3.97	3.57	8.55	—	—	—	3.17	2.92	2.58	2.74	3.81
EV/Sales	2.69	2.45	5.3	—	—	—	2.32	2.04	1.82	1.95	2.3
Earnings yield	—	—	—	—	—	—	48.9%	43.4%	45.9%	33.3%	23.1%
FCF yield	78.1%	96.5%	90.6%	—	—	—	53.1%	31.7%	24.3%	28.7%	8.21%
PEG	—	—	—	—	—	—	—	—	—	—	-0.87

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	46.7%	48.7%	45.1%	46.5%	43%	49.1%	55.4%	55.8%	55.4%	52.8%	49.2%
Operating margin	43%	45.4%	39.2%	43.2%	40%	45.8%	52.3%	53.1%	53%	49.9%	48.8%
Net margin	-39%	-46.6%	-36.5%	15.1%	14.7%	42.6%	48.5%	45.7%	50.1%	55.3%	50.4%
ROE	-19.8%	-29.5%	-18.1%	9.8%	8.94%	24.1%	30.3%	25.7%	24.2%	23.1%	21.3%
ROA	-8.39%	-11%	-4.65%	2.95%	3.26%	8.6%	13.9%	14%	14.9%	14.6%	8.4%
ROIC	10.3%	12.5%	5.54%	9.74%	9.78%	10.8%	17.8%	19.2%	18.9%	18.6%	16.9%
Return on tangible assets	-8.39%	-11%	-4.69%	2.95%	3.26%	8.6%	13.9%	14%	14.9%	14.6%	12.8%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.17	1.4	1.04	1.25	0.88	0.59	0.91	1.05	1.14	2.04	2.13
Quick ratio	1.16	1.39	0.98	1.21	0.82	0.54	0.86	1	1.07	2	2.06
Debt / equity	1.28	1.58	2.77	2.21	1.66	1.5	0.97	0.69	0.47	0.38	0.35
Debt / assets	0.54	0.59	0.71	0.66	0.6	0.54	0.44	0.37	0.29	0.24	0.23
Net debt / EBITDA	3.24	2.98	8.17	4.72	4.23	3.38	1.82	1.42	1.03	0.4	0.33
Interest coverage	-0.45	-0.25	-0.18	1.53	1.64	3.48	4.89	7.8	9.69	11.7	11.3
Effective tax rate	0%	0%	0%	0.01%	0.12%	0.03%	0%	0.15%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	24.2	23	21.1	22.2	15.7	11	16.8	18.8	20	21.1	21.2
EPS (basic)	-11.4	-12.9	-7.44	1.48	2.09	4.48	7.87	8.33	9.74	11.4	11.4
EPS (diluted)	-11.4	-12.9	-7.44	1.48	2.09	4.48	7.87	8.33	9.74	11.4	10.3
Book value per share	47.6	36.3	42.5	34.3	25.8	19.5	26.9	33.5	41.4	50.4	54
FCF per share	9.37	8.95	4.49	-0.48	3.22	-6.13	8.84	6.29	5.31	10.1	8.07
Cash per share	7.85	10.6	11	11.6	4.49	2.06	3.58	4.31	4.74	13.2	14.5
Capex per share	1	0.71	0.03	7.55	1.97	12.4	0.1	3.59	6.5	0.4	0.17

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.16%	3.07%	0.12%	34.1%	12.6%	111.9%	0.62%	19%	32.6%	1.88%	0.78%
Capex / operating cash flow	-33.4%	-23.5%	-0.8%	95.9%	37.1%	176.2%	1.13%	36.6%	54.6%	2.68%	1.16%
Payout ratio	-4.7%	-4.12%	-5.34%	7.73%	9.61%	21.1%	20.5%	20.6%	19.2%	20.6%	23.4%
Dividend yield	3.69%	4.77%	8.3%	—	—	—	10%	8.95%	8.82%	6.84%	5.71%

Yield

5.71%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.625

ex-dividend Aug 21, 2026

Payout ratio

23%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 21, 2026	$0.625
May 22, 2026	$0.625
Feb 24, 2026	$0.625
Nov 21, 2025	$0.625
Aug 22, 2025	$0.525
May 23, 2025	$0.525
Feb 24, 2025	$0.45
Nov 22, 2024	$0.45

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$173M	$177.4M	$178.1M	$173.5M	$172.5M	$181.4M	$187.8M	$188.5M	$189.3M	$187.4M	$191.8M	$192.3M
YoY change	+5.99%	+13.3%	+14.2%	+8.16%	-0.27%	+2.28%	+5.45%	+8.67%	+9.72%	+3.26%	+2.17%	+1.98%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	54.2M	73.3M	82.1M	138M	80.8M	75.2M	128.7M	152.6M	167.5M	473M
Receivables	29K	72K	1.9M	2.4M	2.5M	3.2M	3.7M	4.7M	12.5M	49.9M
Inventory	553K	742K	5.8M	5.6M	6.3M	11.4M	12.2M	15.8M	18.9M	14.6M
Total current assets	56.9M	77.4M	99M	161.9M	98.6M	143.4M	237M	295.7M	301.2M	627M
Property, plant & equipment	719.1M	586.5M	1.1B	1.2B	1.1B	1.7B	1.6B	1.7B	1.9B	2B
Goodwill & intangibles	32K	1.4M	10.8M	2.9M	0	—	—	—	—	—
Total assets	776.3M	675.9M	1.2B	1.4B	1.3B	2B	2.1B	2.2B	2.4B	2.9B
Accounts payable	963K	1.2M	8.9M	8.1M	9.4M	7.9M	19.1M	14.9M	12.3M	15.3M
Short-term debt	31M	40M	64.1M	87.5M	76.7M	190.3M	189.8M	193.3M	145.3M	147.6M
Total current liabilities	48.7M	55.3M	95.5M	129.6M	112.2M	244.8M	261.8M	280.4M	264M	306.8M
Long-term debt	388.8M	358.5M	813.1M	809.4M	692.8M	880.1M	744.6M	619.2M	538.8M	541.6M
Total liabilities	447.4M	424.3M	917.1M	945.4M	809.5M	1.3B	1.1B	987.4M	909.8M	1.1B
Shareholders' equity	328.9M	251.6M	316.4M	406.4M	464.7M	712.6M	966.5M	1.2B	1.5B	1.8B
Total debt	419.9M	398.5M	877.2M	896.9M	769.5M	1.1B	934.4M	812.4M	684.1M	689.1M
Net debt	365.6M	325.2M	795.2M	758.9M	688.7M	1B	814.3M	673.8M	542.7M	415.3M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	112.1M	152.6M	183M	224.3M	286.9M	167.5M	333.7M	430.6M	489.9M	473M	498.6M	499M
Receivables	3.7M	4.7M	7.6M	11.6M	12.8M	12.5M	21.1M	28.8M	32.9M	49.9M	53.9M	50.5M
Inventory	14.1M	15.8M	15.2M	15.6M	15.8M	18.9M	16.3M	18.1M	13.4M	14.6M	14.8M	22.4M
Total current assets	264.4M	295.7M	330.5M	373.3M	419.3M	301.2M	470.4M	566.3M	625.1M	627M	681.3M	668M
Property, plant & equipment	1.7B	1.7B	1.7B	1.7B	1.6B	1.9B	1.9B	1.9B	1.9B	2B	2B	2.1B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	2.2B	2.2B	2.2B	2.2B	2.2B	2.4B	2.6B	2.6B	2.7B	2.9B	2.9B	3B
Accounts payable	19.3M	14.9M	13.6M	18.4M	22.9M	12.3M	32.8M	45.6M	42.6M	15.3M	63.8M	71.6M
Short-term debt	200.6M	193.3M	184.9M	173.7M	152.5M	145.3M	139.2M	147.6M	147.6M	147.6M	147.6M	154.5M
Total current liabilities	290.8M	280.4M	266.3M	263M	255.5M	264M	266.3M	281.9M	285.2M	306.8M	301.5M	314M
Long-term debt	661.5M	619.2M	576.6M	539M	528M	538.8M	631.1M	614M	577.8M	541.6M	505.3M	517.3M
Total liabilities	1B	987.4M	921.6M	871.5M	850.6M	909.8M	1B	1B	950.9M	1.1B	1B	1B
Shareholders' equity	1.1B	1.2B	1.3B	1.3B	1.4B	1.5B	1.6B	1.6B	1.7B	1.8B	1.9B	1.9B
Total debt	862.1M	812.4M	761.5M	712.7M	680.5M	684.1M	770.2M	761.5M	725.4M	689.1M	652.9M	671.8M
Net debt	764M	673.8M	592.6M	541.4M	420.1M	542.7M	447M	345.9M	436M	415.3M	247.9M	283.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-65.1M	-74.3M	-57.4M	39.8M	41.6M	171.5M	292.9M	304.5M	353.6M	416.5M
Depreciation & amortization	40.7M	36.2M	34.1M	45.8M	47M	61.6M	81.3M	91.7M	100M	122M
Stock-based compensation	283K	272K	50K	1.7M	2M	3.5M	10.1M	10.2M	8.7M	14M
Change in working capital	433K	-2.3M	-6.8M	1.7M	-1.7M	68.2M	-6.2M	-19.2M	-2.5M	81.6M
Operating cash flow	-20.7M	-20.8M	-24.1M	93.4M	95.7M	255.7M	333M	346.5M	420.4M	528.3M
Capital expenditure	-6.9M	-4.9M	193K	-89.6M	-35.5M	-450.5M	-3.8M	-126.9M	-229.7M	-14.2M
Investing cash flow	-6.9M	-4.9M	24.2M	-90.4M	-35.5M	-458.4M	-4.4M	-132.4M	-241.8M	-285.7M
Dividends paid	-3.1M	-3.1M	-3.1M	-3.1M	-4M	-36.2M	-60M	-62.8M	-68M	-85.6M
Share repurchases	0	—	—	0	-74K	-10M	-20M	-22M	-5M	-332K
Financing cash flow	-73.6M	-106.5M	-92.9M	603K	-184.5M	947.5M	-350.4M	-212.2M	-208.6M	-84.7M
Net change in cash	-101.3M	-132.2M	-92.8M	3.6M	-124.3M	744.8M	-21.8M	1.9M	-30M	157.9M
Free cash flow	64.8M	62M	33.4M	-5.7M	58M	-223.7M	318.3M	222.5M	187.7M	359.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	85.1M	67M	91.9M	88M	81.1M	92.6M	123.4M	95.4M	95M	102.6M	93.8M	91.7M
Depreciation & amortization	22.5M	31M	22.8M	26M	23.4M	30.7M	26.6M	30.3M	27.3M	41M	27.2M	27.8M
Stock-based compensation	2.5M	2.5M	2.3M	2.2M	2.1M	2.1M	2.1M	2.1M	2.1M	7.6M	5.9M	5.1M
Change in working capital	-15.4M	-8.1M	-15M	-4.2M	17.5M	-667K	-8.2M	1.8M	-6.5M	94.5M	-43.9M	14.9M
Operating cash flow	86.5M	47.7M	99.7M	103.3M	112.8M	104.5M	128.6M	119.2M	112.5M	193.8M	80.3M	126.3M
Capital expenditure	-841K	30.6M	-1.6M	-5.9M	-4.5M	-217.7M	-7.7M	-2.5M	-2.8M	-1.5M	-761K	-813K
Investing cash flow	-2.2M	30.6M	-1.6M	-44.9M	-4.5M	-217.7M	8M	-7.1M	-188.3M	-98.7M	104.7M	-34.4M
Dividends paid	-15.7M	-15.6M	-15.6M	-15.6M	-18.3M	-18.4M	-18.4M	-21.1M	-21.2M	-24.8M	-24.9M	-24.9M
Share repurchases	-3.4M	-1.5M	-5M	0	0	0	0	0	0	-332K	-40K	—
Financing cash flow	-121.1M	7.7M	-124.8M	-65.6M	-96.3M	-60.5M	66.8M	-31.4M	-95M	-62.1M	-61.8M	-6.6M
Net change in cash	-36.9M	86M	-26.7M	-7.2M	12.1M	-173.6M	203.4M	80.8M	-170.9M	33M	123.1M	85.4M
Free cash flow	78.5M	95.6M	95.2M	98.6M	109.1M	-115.3M	33.6M	114M	109.2M	101.8M	79.5M	360K

Global Ship Lease Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history