Gulf Marine Services PLC (GB:GMS)
LSE:GMS
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Gulf Marine Services
(LSE:GMS)
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Rating:68Neutral
Price Target:
20.50 p
▲(8.70% Upside)
Action:DowngradedDate:04/17/26
The score is primarily supported by improving financial strength (deleveraging, sustained profitability, and generally positive free cash flow), but is held back by the 2025 net-income decline and a sharp drop in 2025 free cash flow. Technical indicators are mixed and valuation appears mid-range, providing limited additional upside to the overall score.
Positive Factors
Deleveraging & stronger equity
Steady debt reduction and rising equity materially improve financial flexibility and lower interest and refinancing risk over the medium term. This deleveraging supports capacity to fund maintenance capex, pursue contracts, and withstand cyclical downturns without immediate liquidity stress.
Negative Factors
2025 net income decline
Net income falling while revenue rises suggests margin pressure from higher operating costs, pricing weakness, or rising below‑the‑line expenses. If persistent, this erodes return on capital and limits retained earnings available for reinvestment or further deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Deleveraging & stronger equity
Steady debt reduction and rising equity materially improve financial flexibility and lower interest and refinancing risk over the medium term. This deleveraging supports capacity to fund maintenance capex, pursue contracts, and withstand cyclical downturns without immediate liquidity stress.
Read all positive factors
Gulf Marine Services (GMS) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£221.22M
Dividend YieldN/A
Average Volume (3M)3.11M
Price to Earnings (P/E)15.4
Beta (1Y)1.72
Revenue Growth8.82%
EPS Growth-55.40%
CountryUK
Employees727
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.01
Shares Outstanding1,152,166,000
10 Day Avg. Volume2,043,588
30 Day Avg. Volume3,111,596
Financial Highlights & Ratios
PEG Ratio-0.29
Price to Book (P/B)0.71
Price to Sales (P/S)1.55
P/FCF Ratio5.83
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.04
Revenue Forecast (FY)£186.63M
Gulf Marine Services Business Overview & Revenue Model
Company Description
Gulf Marine Services PLC, together with its subsidiaries, operates self-propelled self-elevating support vessels (SESVs) in the United Arab Emirates, Saudi Arabia, Qatar, the United Kingdom, and rest of Europe. It operates through K-Class Vessels,...
How the Company Makes Money
GMS makes money primarily by contracting its fleet of self-propelled, self-elevating support vessels to customers (typically offshore energy operators and their contractors) under charter or vessel-services agreements. Revenue is generated from da...
Gulf Marine Services Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 192.06M | 167.49M | 151.60M | 133.16M | 115.13M |
| Gross Profit | 80.05M | 89.64M | 69.62M | 60.53M | 60.63M |
| EBITDA | 115.25M | 101.41M | 106.80M | 76.47M | 81.35M |
| Net Income | 19.29M | 37.98M | 41.34M | 25.33M | 31.00M |
Balance Sheet | |||||
| Total Assets | 700.18M | 683.14M | 668.33M | 658.82M | 674.40M |
| Cash, Cash Equivalents and Short-Term Investments | 27.77M | 40.01M | 8.71M | 12.71M | 8.64M |
| Total Debt | 214.63M | 240.38M | 279.30M | 331.61M | 382.45M |
| Total Liabilities | 277.76M | 300.44M | 338.05M | 371.25M | 411.69M |
| Stockholders Equity | 418.86M | 379.70M | 327.57M | 285.59M | 260.80M |
Cash Flow | |||||
| Free Cash Flow | 50.94M | 94.70M | 81.39M | 76.25M | 29.00M |
| Operating Cash Flow | 76.74M | 103.56M | 94.40M | 82.56M | 40.51M |
| Investing Cash Flow | -25.79M | -8.77M | -12.79M | -6.30M | -11.50M |
| Financing Cash Flow | -63.45M | -63.45M | -85.22M | -72.26M | -24.54M |
Gulf Marine Services Technical Analysis
Positive
18.86
Price Trends
20.43
Positive
19.51
Positive
18.56
Positive
Market Momentum
0.14
Negative
61.59
Neutral
73.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:GMS, the sentiment is Positive. The current price of 18.86 is above the 20-day moving average (MA) of 18.62, below the 50-day MA of 20.43, and above the 200-day MA of 18.56, indicating a bullish trend. The MACD of 0.14 indicates Negative momentum. The RSI at 61.59 is Neutral, neither overbought nor oversold. The STOCH value of 73.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:GMS.
Gulf Marine Services Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | £743.67M | 18.63 | 3.49% | 2.22% | -5.70% | ― | |
73 Outperform | £385.45M | 7.75 | 21.84% | 0.38% | 20.92% | 11.45% | |
68 Neutral | £221.22M | 15.39 | 4.61% | ― | 8.82% | -55.40% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
49 Neutral | £17.79M | -34.95 | ― | ― | ― | ― | |
46 Neutral | £3.75M | 118.61 | -12.73% | ― | -88.25% | -905.77% |
* Energy Sector Average
GB:GMS
Gulf Marine Services
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1.88
10.85%
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Gulf Marine Services Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Gulf Marine Services shifts registered office to new London address
Neutral
Apr 24, 2026
Gulf Marine Services PLC has changed its registered office address in the UK to Ground Floor, Heritage House, 2-14 Shortlands, London, W6 8DJ, effective 24 April 2026. The move updates the formal corporate domicile location for the London-listed o...
Business Operations and StrategyDividendsFinancial Disclosures
Gulf Marine Services Delivers Strong 2025 Growth but Withholds Dividend Amid Gulf Tensions
Negative
Apr 14, 2026
Gulf Marine Services reported its fifth consecutive year of double-digit growth in 2025, with revenue up 12% to $188.1 million and adjusted EBITDA also rising 12% to $112.9 million, driven by higher day rates and the addition of a leased large ves...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Gulf Marine Services Evacuates Crews from Four Gulf Vessels Amid Regional Tensions
Negative
Mar 4, 2026
Gulf Marine Services has evacuated personnel from four support vessels in the Middle East at a client’s request, following regional tensions in the Gulf. The move, described as a precautionary safety measure, underscores the company’s ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.