Globus Maritime (GLBS) AI Stock Analysis

• Market Cap: $23.26M
• Dividend Yield: N/A
• Average Volume (3M): 56.39K
• Price to Earnings (P/E): 61.2
• Beta (1Y): 0.03
• Revenue Growth: 17.92%
• EPS Growth: -131.47%
• Country: US
• Employees: 25
• Sector: Industrials
• Sector Strength: 87
• Industry: Marine Shipping
• EPS (TTM): -0.07
• Shares Outstanding: 20,582,300
• 10 Day Avg. Volume: 30,046
• 30 Day Avg. Volume: 56,387
• PEG Ratio: 0.68
• Price to Book (P/B): 0.14
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.29
• Enterprise Value/Market Cap: 4.56
• Enterprise Value/Revenue: 0.78
• Enterprise Value/Gross Profit: 24.77
• Enterprise Value/Ebitda: 1.50
• 1Y Price Target: $1.00
• Price Target Upside: -10.71% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 47 Neutral
• Price Target: $1.00 ▼(-10.71%Downside)

The overall score for GLBS is primarily impacted by its financial performance, which is hampered by significant challenges in profitability and cash flow generation. The technical analysis provides mixed signals, with some potential for upward momentum. However, valuation concerns due to a negative P/E ratio and lack of dividend yield adversely affect the stock's attractiveness.

Positive Factors

Company Strategy

GLBS announced the acquisition of two dry bulk ships, which is expected to offset the decline in shipping rates with additional revenue.

Financial Performance

GLBS is forecasted to generate free cash flow in 2H24, 2025, and 2026, indicating financial stability and growth potential.

Fleet Expansion

The company plans to have 12 ships by the end of 2026, expanding its fleet and potentially increasing its revenue-generating capacity.

Negative Factors

Debt Management

GLBS added more debt than expected in 3Q24, leading to increased interest expenses.

Market Conditions

The Baltic Supramax Index declined 16.8% due to lower dry bulk import demand from China.

Revenue Forecast

A recent decline in dry bulk shipping rates has led to a reduction in the 4Q24 time charter equivalent forecast.

Globus Maritime Business Overview & Revenue Model

Company Description

Globus Maritime Limited, an integrated dry bulk shipping company, provides marine transportation services worldwide. It owns, operates, and manages a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes. As of March 31, 2022, the company's fleet included nine vessels with a total carrying capacity of 626,257 deadweight tonnage. It charters its vessels to operators, trading houses, shipping companies and producers, and government-owned entities. The company was incorporated in 2006 and is based in Athens, Greece. Globus Maritime Limited is a subsidiary of Firment Trading Limited.

How the Company Makes Money

Globus Maritime generates revenue through the chartering of its dry bulk vessels to third-party operators. The company operates under two primary charter agreements: time charters and voyage charters. In time charters, vessels are hired for a set period, and the charterer pays a daily hire rate, covering operational costs such as crew and maintenance. In voyage charters, the vessel is contracted for a single voyage, and the charterer pays a freight rate based on cargo volume and distance traveled. Globus Maritime's earnings are influenced by factors such as charter rates, fleet utilization, and market demand for dry bulk shipping. Additionally, strategic partnerships with charterers and a focus on maintaining a modern and efficient fleet contribute to its financial performance.

Globus Maritime Financial Statement Overview

Summary

Globus Maritime demonstrates moderate revenue growth and a stable balance sheet with a healthy equity ratio and manageable debt levels. However, profitability and cash flow generation are critical challenges, with negative net income and free cash flows, indicating a need for improved operational efficiency and cash conversion.

Income Statement

The TTM Gross Profit Margin is 11.96%, indicating low profitability relative to revenue. Net Profit Margin is negative at -2.10%, highlighting challenges in achieving net profitability. Revenue shows a moderate growth rate of 2.60% from the previous year, suggesting a slight improvement in sales. However, the EBIT Margin is 0.53% and EBITDA Margin is 48.15%, indicating operational efficiency issues but better performance before interest, taxes, depreciation, and amortization.

Balance Sheet

Debt-to-Equity Ratio is 0.77, representing a manageable level of leverage. Return on Equity (ROE) is negative at -0.43%, suggesting poor returns on shareholder investments. The Equity Ratio is 55.35%, indicating a strong equity base relative to total assets, providing financial stability.

Cash Flow

Operating Cash Flow to Net Income Ratio is negative, reflecting issues in converting income into cash flows. Free Cash Flow is negative, indicating challenges in generating excess cash after capital expenditures. The Free Cash Flow to Net Income Ratio is not meaningful due to negative values, highlighting cash flow management concerns.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	34.87M	31.20M	61.76M	43.38M	11.75M
Gross Profit	6.61M	298.00K	28.12M	21.78M	-3.05M
EBITDA	16.30M	18.48M	36.89M	24.87M	-9.48M
Net Income	431.00K	5.27M	24.28M	14.95M	-21.43M
Balance Sheet
Total Assets	320.99M	231.40M	225.46M	185.65M	86.44M
Cash, Cash Equivalents and Short-Term Investments	46.84M	74.20M	52.83M	45.21M	19.04M
Total Debt	137.95M	52.45M	44.83M	32.21M	37.11M
Total Liabilities	144.59M	55.43M	54.76M	39.23M	44.35M
Stockholders Equity	176.40M	175.97M	170.70M	146.42M	42.09M
Cash Flow
Free Cash Flow	-101.90M	-23.73M	-2.48M	-51.22M	-24.80M
Operating Cash Flow	11.29M	-4.46M	26.91M	20.75M	-6.24M
Investing Cash Flow	-98.92M	18.46M	-29.01M	-71.96M	-18.54M
Financing Cash Flow	60.27M	10.27M	9.72M	77.39M	41.46M

Globus Maritime Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.12
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GLBS, the sentiment is Negative. The current price of 1.12 is below the 20-day moving average (MA) of 1.15, below the 50-day MA of 1.14, and below the 200-day MA of 1.31, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 45.97 is Neutral, neither overbought nor oversold. The STOCH value of 15.56 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GLBS.

Globus Maritime Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PSHG	71 Outperform	$22.88M	1.20	22.49%	―	-15.10%	-9.38%
PXS	68 Neutral	$30.09M	5.01	10.31%	―	8.07%	-77.30%
Sector *	65 Neutral	$10.91B	15.53	5.25%	2.19%	3.15%	-27.00%
TOPS	64 Neutral	$27.25M	5.41	3.07%	―	3.83%	―
CTRM	63 Neutral	$23.27M	2.66	3.07%	―	-32.07%	-9.50%
EDRY	54 Neutral	$30.53M	―	-11.54%	―	10.25%	-269.52%
GLBS	47 Neutral	$23.26M	61.24	-0.43%	―	17.92%	-131.47%