Global Ship Lease

GSL

Marine Shipping · Industrials

Price

$43.83

+0.46 (+1.05%)

Market Cap

$1.57B

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Mixed

Cash Flow

Exceptional

Stability

Strong

Valuation

Good

Dividends

Exceptional

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Winston Score History

The full picture

Global Ship Lease owns and leases container ships to major shipping companies around the world. Container ships carry the metal boxes — called containers — that move everyday goods like electronics, clothing, and food across oceans. The company does not operate the ships itself; instead, it rents them out to ocean carriers like CMA CGM and other large liner companies.

Global Ship Lease makes money by charging fixed daily rates to lease its vessels under multi-year contracts, which creates relatively predictable revenue. The company operates a fleet of mid-sized and smaller containerships, mostly serving routes in Europe, Asia, and the Americas, and has a market cap of around $1.3 billion. Its long-term charters provide some protection against short-term shipping market swings, but the business is still exposed to the highly cyclical nature of global trade — if demand for shipping drops or too many new ships enter the market, lease rates and vessel values can fall sharply.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+2.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-5.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

11.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$499M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Global Ship Lease is growing revenue at 2% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.6% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 35.5M (2021) → 35.7M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

49.2%

Healthy — 49.2% gross margin

Profit after running costs

Operating Margin

45.5%

Excellent — 45.5% operating margin

Return on the money invested

ROCE

14.2%

Good — 14.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+6.0%

Slow sales growth (+6.0% YoY)

Profit growth

EPS YoY

-3.5%

Earnings shrinking (-3.5% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

134%

Turns 134% of profit into real cash

Spare cash per sale

FCF Margin

37.6%

Converts sales into free cash efficiently (37.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.35

Conservative — low debt load (0.35)

Covers its interest

Interest Cover

9.97x

Comfortably covers interest (10.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

4.2x

Attractive valuation — P/E 4.2

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-0.7

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

5.74%

Healthy income — 5.74% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+28.2%

Dividend growing fast (28.2% YoY)

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