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Gulf Marine Services
(LSE:GMS)
Gulf Marine Services (GMS) vs. S&P 500 (SPY)
Gulf Marine Services Business Overview & Revenue Model
Gulf Marine Services Financial Statement Overview
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 158.04M | 167.49M | 151.60M | 133.16M | 115.13M | 102.49M | Gross Profit |
| 73.34M | 89.64M | 102.84M | 60.53M | 60.63M | -55.53M | EBIT |
| 89.30M | 72.61M | 88.19M | 47.32M | 48.35M | -73.74M | EBITDA |
| 81.09M | 101.41M | 106.80M | 76.47M | 81.35M | -37.43M | Net Income Common Stockholders |
| 40.03M | 37.98M | 41.34M | 25.33M | 31.00M | -124.30M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 61.58M | 40.01M | 8.71M | 12.28M | 8.27M | 3.80M | Total Assets |
| 942.77M | 683.14M | 668.33M | 658.82M | 674.40M | 654.44M | Total Debt |
| 463.70M | 240.38M | 279.30M | 331.61M | 382.45M | 413.37M | Net Debt |
| 402.13M | 200.38M | 270.63M | 319.33M | 374.18M | 409.57M | Total Liabilities |
| 498.52M | 300.44M | 338.05M | 371.25M | 411.69M | 447.58M | Stockholders Equity |
| 443.69M | 379.70M | 327.57M | 285.59M | 260.80M | 205.17M |
| Cash Flow | Free Cash Flow | ||||
| 95.38M | 94.70M | 81.39M | 76.25M | 29.00M | 31.05M | Operating Cash Flow |
| 97.95M | 103.56M | 94.40M | 82.56M | 40.51M | 44.27M | Investing Cash Flow |
| -16.48M | -8.77M | -12.79M | -6.30M | -11.50M | -12.35M | Financing Cash Flow |
| -79.15M | -63.45M | -85.22M | -72.26M | -24.54M | -36.52M |
Gulf Marine Services Technical Analysis
Gulf Marine Services Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | £205.65M | 6.55 | 10.54% | ― | 7.46% | -14.72% | |
61 Neutral | £199.85M | 4.36 | ― | -11.70% | ― | ||
56 Neutral | $7.17B | 3.84 | -4.86% | 5.83% | 0.24% | -51.87% | |
56 Neutral | £415.67M | 4.81 | -2.91% | 3.30% | 9.74% | -123.08% | |
55 Neutral | $146.20M | ― | -15.72% | ― | -14.44% | -22.34% | |
53 Neutral | £166.96M | 17.20 | -3.25% | ― | -28.38% | 90.60% |
Gulf Marine Services Corporate Events
Gulf Marine Services PLC reported a strong start to 2025 with a 14% increase in revenue to $42.3 million for Q1, driven by higher day rates and vessel utilization. The company also saw a 21% rise in adjusted EBITDA and a significant reduction in net debt, reflecting improved financial health. The outlook remains positive with strong market demand and plans to capitalize on market opportunities, despite potential economic uncertainties. The company is focused on maintaining a resilient capital structure and maximizing shareholder value.
Spark’s Take on GB:GMS Stock
According to Spark, TipRanks’ AI Analyst, GB:GMS is a Outperform.
Gulf Marine Services demonstrates solid financial performance with strong revenue growth and robust cash flow generation. The company is strategically positioned for growth with recent contract wins and debt refinancing efforts. While the technical analysis shows stable trends, the stock’s undervaluation presents potential upside. The positive corporate events further support a favorable outlook, resulting in a strong overall score.
To see Spark’s full report on GB:GMS stock, click here.
Gulf Marine Services PLC has released its 2024 Annual Report and announced the 2025 Annual General Meeting (AGM), scheduled for May 29, 2025, in Abu Dhabi. The company emphasizes shareholder engagement by facilitating proxy voting and question submissions via email for those unable to attend. This approach ensures shareholder participation and transparency in corporate governance, potentially strengthening stakeholder trust and company reputation.
Gulf Marine Services PLC reported a 10% increase in revenue to $167.5 million for 2024, driven by improved fleet day rates, despite a 9% drop in net profit to $38.3 million. The company successfully refinanced a $300 million loan, reducing net bank debt by 25% and improving its net leverage ratio to 2.0. Operationally, GMS secured new contracts totaling 23.8 years and maintained strong fleet utilization at 92%, while achieving zero lost time and recordable injury rates. The company aims to further enhance shareholder value through strategic debt reduction, improved EBITDA, and a robust pipeline of opportunities in the offshore energy sector.
Gulf Marine Services PLC announced its 2024 financial results, highlighting a 10% increase in revenue to $167.5 million and a 15% rise in adjusted EBITDA to $100.4 million. Despite a 9% decrease in net profit to $38.3 million, the company achieved significant operational milestones, including securing new contracts and extensions totaling 23.8 years and maintaining a high fleet utilization rate of 92%. The successful refinancing of a $300 million loan facility at favorable terms reduced net bank debt and improved the net leverage ratio, enhancing financial flexibility and positioning the company for future growth. The company also announced a future dividend policy and continued efforts to expand its presence in the offshore wind sector, reflecting its commitment to shareholder value and sustainable growth.
Gulf Marine Services has secured a new contract for one of its Large-class vessels in the GCC, marking the company’s fourth contract win or extension this year. This achievement underscores the strong demand for GMS’s vessels and highlights the company’s robust market position in the offshore energy industry, reinforcing client confidence in their reliable solutions.
Gulf Marine Services PLC announced that as of 31 March 2025, its issued share capital consists of 1,129,946,314 ordinary shares with voting rights. This update is crucial for shareholders to determine their notification requirements under the FCA’s Disclosure Guidance and Transparency Rules, impacting how they manage their interests in the company.
Gulf Marine Services has secured a new contract for an additional vessel in the Middle East, awarded by a major regional client for a term of seven months. This contract highlights GMS’s capability to provide tailored solutions and reinforces its flexibility in meeting client demands, potentially strengthening its market position and operational footprint in the offshore energy sector.
Gulf Marine Services has announced the extension of contracts for two of its vessels with a major National Oil Company in the Middle East for three more years, at enhanced rates. This extension, which increases GMS’s secured backlog to $558 million, underscores the company’s strong market position and the ongoing demand for its services in the offshore energy sector, particularly in the Middle East.