Globus Maritime Limited

GLBS

Marine Shipping · Industrials

Price

$3.74

+0.12 (+3.31%)

Market Cap

$80.7M

Exchange

NASDAQ Capital Market

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

Good

Growth

Mixed

Cash Flow

Exceptional

Stability

Good

Valuation

Strong

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Share count rising — dilution

+39.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 14.8M (2021) → 20.7M (2025)

Winston Score History

The full picture

Globus Maritime Limited is a small shipping company based in Greece that transports dry bulk cargo around the world. Dry bulk means loose materials like iron ore, coal, grain, and minerals — the kinds of raw materials that factories and power plants need to operate. The company owns and operates a fleet of bulk carrier ships, serving industrial customers such as commodity traders, mining companies, and steel producers.

Globus Maritime earns money by charging customers to rent its ships, either on short-term spot contracts or longer fixed-rate charters. The company operates globally, with routes spanning Asia, Europe, and the Americas, and its small fleet keeps it in the micro-cap tier of the shipping industry. Dry bulk shipping is a highly cyclical business with no strong moat — freight rates rise and fall sharply based on global trade volumes and fleet supply, meaning the company's earnings can swing dramatically from year to year depending on market conditions.

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

+53.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+309.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

42.0%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$32M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Globus Maritime Limited grew revenue 53% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

41.7%

Healthy — 41.7% gross margin

Profit after running costs

Operating Margin

29.5%

Excellent — 29.5% operating margin

Return on the money invested

ROCE

3.9%

Weak — 3.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+47.8%

Fast-growing sales (+47.8% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

243%

Turns 243% of profit into real cash

Spare cash per sale

FCF Margin

15.8%

Converts sales into free cash efficiently (15.8%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.58

Conservative — low debt load (0.58)

Covers its interest

Interest Cover

1.52x

Dangerous — barely covers interest (1.5x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

11.8x

Attractive valuation — P/E 11.8

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+1.9

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Not applicable for this business.

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