Global Ship Lease (GSL)
NYSE:GSL
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Global Ship Lease
(NYSE:GSL)
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Rating:79Outperform
Price Target:
$44.00
â–²(12.97% Upside)
Action:Reiterated
Date:05/24/26
The score is driven primarily by strong financial performance (exceptional margins, solid cash generation, and improved leverage) and very attractive valuation (low P/E with a high dividend). The latest earnings call supports resilience via high contracted revenue coverage and ongoing deleveraging, while the main constraint is mixed near-term technical momentum and elevated geopolitical/market uncertainty typical for shipping.
Positive Factors
High Profitability & Margins
Sustained very high TTM margins indicate the business captures strong charter economics and benefits from operating leverage. Durable margin strength supports cash generation and dividend capacity even if revenue growth slows, helping the firm fund capex, deleveraging and opportunistic purchases.
Negative Factors
Geopolitical Trade‑Route Risk
Persistent chokepoint disruptions change routing, raise voyage times and unpredictably alter effective fleet supply and demand balance. These structural route shifts increase operating risk, insurance and fuel exposure, and can compress charter durations and pricing consistency over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability & Margins
Sustained very high TTM margins indicate the business captures strong charter economics and benefits from operating leverage. Durable margin strength supports cash generation and dividend capacity even if revenue growth slows, helping the firm fund capex, deleveraging and opportunistic purchases.
Read all positive factors
Global Ship Lease (GSL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.31B
Dividend Yield6.16%
Average Volume (3M)338.38K
Price to Earnings (P/E)3.4
Beta (1Y)0.95
Revenue Growth7.07%
EPS Growth-0.61%
CountryUS
Employees7
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)10.53
Shares Outstanding35,918,243
10 Day Avg. Volume433,201
30 Day Avg. Volume338,377
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)0.69
Price to Sales (P/S)1.63
P/FCF Ratio3.48
Enterprise Value/Market Cap1.15
Enterprise Value/Revenue1.96
Enterprise Value/Gross Profit3.68
Enterprise Value/Ebitda2.85
Forecast
1Y Price Target
$48.00Price Target Upside23.23% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)9.8
Revenue Forecast (FY)$743.19M
Global Ship Lease Business Overview & Revenue Model
Company Description
Global Ship Lease, Inc. owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of March 10, 2022, it owned 65 mid-sized and smaller containerships with an aggregate capacity of 342,348 twent...
How the Company Makes Money
GSL primarily makes money by chartering its container ships to container liner operators under time-charter contracts. Under a typical time charter, the customer pays GSL a contracted daily (or periodic) hire rate for the right to use a specified ...
Global Ship Lease Earnings Call Summary
Earnings Call Date:May 22, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call emphasized strong financial resilience: sizable forward contracted revenues, full 2026 coverage, a near net-zero debt position, meaningful deleveraging (debt down from $950M to < $700M and leverage down from 8.4x to 0.3x), a healthy cash balance, an attractive dividend (~6% yield), and disciplined capital allocation including monetization of old assets (3 ships for $52M with an estimated $25M book gain). These positives outweigh the substantial external risks highlighted—notably geopolitical disruptions in the Red Sea and Strait of Hormuz, the humanitarian issue of ~20,000 seafarers trapped, limited scrapping/idle capacity keeping older ships employed, and near-term market uncertainty that could shorten charter durations. Management’s strategy of patience, deleveraging and preserving dry powder positions the company to capitalize on opportunities while mitigating downside, leading to a constructive but watchful tone.Positive Updates
Strong Forward Contracted Revenues and Coverage
Contracted revenues of over $2.0 billion (management cited $2.1 billion in one place) with roughly 2.6–2.8 years of contract cover. Revenue days are 100% covered for 2026 and ~86% covered for 2027, providing strong forward visibility.
Negative Updates
Geopolitical Disruptions and Trade-Route Volatility
Significant and escalating geopolitical uncertainty: Red Sea disruptions (pre-disruption ~20% of containerized trade via Red Sea/Suez) and Strait of Hormuz constraints (previously ~3–4% of global containerized trade). Rerouting around the Cape of Good Hope absorbed roughly 10% of effective shipping capacity, fragmenting and decentralizing trade routes.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Forward Contracted Revenues and Coverage
Contracted revenues of over $2.0 billion (management cited $2.1 billion in one place) with roughly 2.6–2.8 years of contract cover. Revenue days are 100% covered for 2026 and ~86% covered for 2027, providing strong forward visibility.
Read all positive updates
Company Guidance
The company’s guidance emphasized maintaining optionality, resilience and disciplined capital allocation—continuing to lock in charters, delever and return capital—backed by concrete metrics: roughly $2.0–$2.1 billion of forward contracted revenues (reported as $2.1bn over 2.8 years and also as >$2bn over 2.6 years), 100% charter coverage for 2026 and ~86% for 2027, cash of $655 million (of which $156m is restricted), effectively near net‑zero debt on paper, outstanding debt down from $950m in 2022 to under $700m (targeted to be well below $600m by year‑end), financial leverage reduced from 8.4x in 2018 to 0.3x today, an annualized dividend of $2.50/share (≈6% yield at yesterday’s close), average daily breakeven of just above $9.8k per ship (with most incremental revenue flowing to the bottom line), forward sales of three oldest vessels for $52m expected to generate ~ $25m book gain with deliveries between Q4 2026–Q4 2027, order‑book/fleet ratios of 37% overall (60% for >10k TEU, ~20% for <10k TEU), and market/geo impacts such as the Red Sea historically carrying ~20% of container trade (rerouting has absorbed ~10% of effective capacity), the Strait of Hormuz previously ~3–4% of trade, and an estimated ~20,000 seafarers affected—while idle capacity and scrapping remain negligible and a modeled scrapping of 25+ year ships through 2030 would shrink the sub‑10k TEU fleet by ~3.4%.Global Ship Lease Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
78
Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 770.24M | 766.45M | 705.53M | 666.72M | 604.49M | 402.52M |
| Gross Profit | 409.23M | 410.93M | 390.75M | 372.19M | 334.59M | 197.56M |
| EBITDA | 528.32M | 524.30M | 494.30M | 441.50M | 449.47M | 302.34M |
| Net Income | 386.89M | 416.45M | 353.63M | 304.50M | 292.93M | 171.50M |
Balance Sheet | ||||||
| Total Assets | 2.90B | 2.86B | 2.37B | 2.17B | 2.11B | 1.99B |
| Cash, Cash Equivalents and Short-Term Investments | 549.23M | 523.50M | 167.53M | 152.64M | 128.68M | 75.18M |
| Total Debt | 652.88M | 689.14M | 684.06M | 812.43M | 968.80M | 1.25B |
| Total Liabilities | 1.02B | 1.06B | 909.76M | 987.39M | 1.14B | 1.28B |
| Stockholders Equity | 1.88B | 1.80B | 1.46B | 1.18B | 966.49M | 712.55M |
Cash Flow | ||||||
| Free Cash Flow | 404.47M | 359.36M | 187.65M | 222.53M | 318.25M | -223.68M |
| Operating Cash Flow | 505.76M | 528.30M | 430.15M | 375.01M | 327.48M | 247.95M |
| Investing Cash Flow | -248.01M | -351.90M | -254.64M | -151.98M | -9.88M | -463.02M |
| Financing Cash Flow | -213.32M | -84.68M | -208.59M | -212.24M | -243.31M | 318.45M |
Global Ship Lease Technical Analysis
Negative
38.95
Price Trends
38.58
Negative
37.69
Negative
34.16
Positive
Market Momentum
-0.49
Positive
34.82
Neutral
4.72
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GSL, the sentiment is Negative. The current price of 38.95 is below the 20-day moving average (MA) of 39.70, above the 50-day MA of 38.58, and above the 200-day MA of 34.16, indicating a neutral trend. The MACD of -0.49 indicates Positive momentum. The RSI at 34.82 is Neutral, neither overbought nor oversold. The STOCH value of 4.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GSL.
Global Ship Lease Risk Analysis
Global Ship Lease disclosed 75 risk factors in its most recent earnings report. Global Ship Lease reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
We may not achieve the intended benefits of having forum selection provisions if they are found to be unenforceable. Q4, 2023
2.
Our Fourth Amended and Restated Bylaws include forum selection provisions for certain disputes between us and our shareholders, which could limit our shareholders' ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or other employees. Q4, 2023
3.
European mandatory non-financial reporting regulations. Q4, 2023
Global Ship Lease Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $1.99B | 5.83 | 10.67% | 0.39% | 5.87% | 8.14% | |
80 Outperform | $2.29B | 4.39 | 13.85% | 3.64% | 2.95% | 15.92% | |
79 Outperform | $1.31B | 3.39 | 21.99% | 6.16% | 7.07% | -0.61% | |
72 Outperform | $3.09B | 21.32 | 5.87% | 1.59% | -11.62% | -37.75% | |
65 Neutral | $1.91B | 5.38 | 16.80% | 2.94% | -59.07% | 10.43% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $1.64B | 46.53 | 3.21% | 12.24% | -16.39% | -44.25% |
* Industrials Sector Average
GSL
Global Ship Lease
36.43
13.21
56.86%
CMRE
Costamare
15.38
7.12
86.09%
DAC
Danaos
125.21
42.15
50.74%
NMM
Navios Maritime Partners
69.27
30.25
77.52%
SFL
SFL Corporation
11.04
3.41
44.75%
SBLK
Star Bulk Carriers
27.25
11.18
69.54%
Global Ship Lease Corporate Events
Global Ship Lease Posts Strong Q1 2026 Results, Extends Contract Cover and Sells Non-Core Ships
May 22, 2026
Global Ship Lease reported unaudited results for the quarter ended March 31, 2026, posting operating revenue of $198.1 million and net income available to common shareholders of $91.4 million, or $2.54 per share. The company achieved 98.2% fleet u...
Global Ship Lease Declares $0.625 Q1 2026 Dividend on Class A Shares
May 12, 2026
Global Ship Lease, Inc., a New York Stock Exchange-listed containership owner and lessor incorporated in the Marshall Islands, operates a diversified fleet of 71 mid-sized and smaller vessels on long-term, fixed-rate charters to major liner compan...
Global Ship Lease Sets June 17, 2026 Shareholder Meeting to Vote on Directors, Auditor and Charter Amendments
Apr 28, 2026
Global Ship Lease, Inc., a Greece-based independent owner of mid-sized and smaller containerships chartered on fixed-rate contracts to major liner companies, has built a 71-vessel fleet totaling 423,003 TEU as of March 16, 2026. The company, activ...
Global Ship Lease Declares Quarterly Dividend on Series B Preferred Shares
Mar 10, 2026
Global Ship Lease, Inc., a containership owner and lessor with a diversified fleet of mid-sized and smaller vessels, operates under long-term, fixed-rate charters with major container liner companies. As of December 31, 2025, including a newly del...
Global Ship Lease Boosts Earnings, Contract Cover and Dividend on Strong 2025 Performance
Mar 6, 2026
Global Ship Lease reported unaudited results on March 5, 2026, for the fourth quarter and full year ended December 31, 2025, showing operating revenue of $190.9 million for the quarter and $766.5 million for the year, up 7.8% from 2024. Net income...
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.