Global Ship Lease Inc Financials

GSL

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 77/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Global Ship Lease Inc has an operating margin of 53.3%, meaning the company retains $53 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 50.9% the prior year.

Growth

Global Ship Lease Inc's revenue grew 5.4% year-over-year to $711.1M, a solid pace of expansion. This earns a growth score of 44/100.

Leverage

Global Ship Lease Inc carries a low D/E ratio of 0.37, meaning only $0.37 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Global Ship Lease Inc's current ratio of 1.14 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 26/100, which could limit financial flexibility.

Cash Flow

100

Global Ship Lease Inc converts 59.5% of revenue into free cash flow ($423.3M). This strong cash generation earns a score of 100/100.

Returns

Global Ship Lease Inc earns a strong 24.2% return on equity (ROE), meaning it generates $24 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 97/100. This is down from 25.7% the prior year.

Altman Z-Score Grey Zone

2.20

Global Ship Lease Inc scores 2.20, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral

6/9

Global Ship Lease Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.22x

For every $1 of reported earnings, Global Ship Lease Inc generates $1.22 in operating cash flow ($430.1M OCF vs $353.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

9.3x

Global Ship Lease Inc earns $9.3 in operating income for every $1 of interest expense ($379.1M vs $40.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

This page shows Global Ship Lease Inc (GSL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$711.1M

YoY+5.4%

5Y CAGR+22.2%

10Y CAGR+17.8%

Global Ship Lease Inc generated $711.1M in revenue in fiscal year 2024. This represents an increase of 5.4% from the prior year.

EBITDA

$479.1M

YoY+10.2%

5Y CAGR+25.2%

10Y CAGR+19.1%

Global Ship Lease Inc's EBITDA was $479.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.2% from the prior year.

Free Cash Flow

$423.3M

10Y CAGR+53.7%

Global Ship Lease Inc generated $423.3M in free cash flow in fiscal year 2024, representing cash available after capex.

Net Income

$353.6M

YoY+16.1%

5Y CAGR+54.8%

10Y CAGR+50.1%

Global Ship Lease Inc reported $353.6M in net income in fiscal year 2024. This represents an increase of 16.1% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$141.4M

YoY+2.0%

5Y CAGR+0.5%

10Y CAGR+15.6%

Global Ship Lease Inc held $141.4M in cash against $538.8M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

35M

YoY+0.7%

Global Ship Lease Inc had 35M shares outstanding in fiscal year 2024. This represents an increase of 0.7% from the prior year.

Gross Margin

N/A

Operating Margin

53.3%

YoY+2.5pp

5Y CAGR+10.6pp

10Y CAGR+22.8pp

Global Ship Lease Inc's operating margin was 53.3% in fiscal year 2024, reflecting core business profitability. This is up 2.5 percentage points from the prior year.

Net Margin

49.7%

YoY+4.6pp

5Y CAGR+34.5pp

10Y CAGR+45.3pp

Global Ship Lease Inc's net profit margin was 49.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 4.6 percentage points from the prior year.

Return on Equity

24.2%

YoY-1.5pp

5Y CAGR+14.4pp

10Y CAGR+22.8pp

Global Ship Lease Inc's ROE was 24.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.5 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$6.8M

10Y CAGR-18.8%

Global Ship Lease Inc invested $6.8M in capex in fiscal year 2024, funding long-term assets and infrastructure.

GSL Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$711.1M+5.4%	$674.8M+4.5%	$645.6M+44.1%	$448.0M+58.4%	$282.8M+8.3%	$261.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$17.1M-6.0%	$18.2M-1.7%	$18.5M+39.9%	$13.2M+58.6%	$8.3M-5.3%	$8.8M
Operating Income	$379.1M+10.5%	$343.2M-3.1%	$354.2M+49.1%	$237.5M+126.7%	$104.8M-6.1%	$111.6M
Interest Expense	$40.7M-9.3%	$44.8M+108.4%	$21.5M+273.2%	$5.8M-91.2%	$65.4M-12.9%	$75.0M
Income Tax	$1K-99.8%	$448K+996.0%	-$50K-189.3%	$56K+14.3%	$49K+1533.3%	$3K
Net Income	$353.6M+16.1%	$304.5M+4.0%	$292.9M+70.8%	$171.5M+312.6%	$41.6M+4.3%	$39.8M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$32.1M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

GSL Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$2.4B+9.3%	$2.2B+3.1%	$2.1B+5.6%	$2.0B+56.5%	$1.3B-5.7%	$1.4B
Current Assets	$301.2M+1.9%	$295.7M+24.7%	$237.0M+65.4%	$143.4M+45.4%	$98.6M-39.1%	$161.9M
Cash & Equivalents	$141.4M+2.0%	$138.6M+15.4%	$120.1M+78.6%	$67.3M-16.7%	$80.8M-41.5%	$138.0M
Inventory	$18.9M+19.9%	$15.8M+28.8%	$12.2M+7.2%	$11.4M+80.7%	$6.3M+12.9%	$5.6M
Accounts Receivable	$12.5M+163.7%	$4.7M+28.7%	$3.7M+14.4%	$3.2M+27.2%	$2.5M+7.7%	$2.4M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$909.8M-7.9%	$987.4M-13.4%	$1.1B-11.1%	$1.3B+58.3%	$809.5M-14.4%	$945.4M
Current Liabilities	$264.0M-5.9%	$280.4M+7.1%	$261.8M+6.9%	$244.8M+118.1%	$112.2M-13.4%	$129.6M
Long-Term Debt	$538.8M-13.0%	$619.2M-16.8%	$744.6M-15.4%	$880.1M+27.0%	$692.8M-14.4%	$809.4M
Total Equity	$1.5B+23.6%	$1.2B+22.5%	$966.5M+35.6%	$712.6M+53.3%	$464.7M+14.4%	$406.4M
Retained Earnings	$773.8M+58.5%	$488.1M+98.1%	$246.4M+1725.4%	$13.5M+111.1%	-$121.8M+23.6%	-$159.4M

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Total Assets	$2.6B+11.4%	$2.4B+9.3%	$2.2B-1.0%	$2.2B+4.1%	$2.1B-1.2%	$2.1B+6.9%	$2.0B+37.3%	$1.5B
Current Assets	$566.3M+88.0%	$301.2M+1.9%	$295.7M+32.5%	$223.2M-5.8%	$237.0M-9.2%	$261.2M+82.2%	$143.4M-22.0%	$183.8M
Cash & Equivalents	$415.6M+194.0%	$141.4M+2.0%	$138.6M+64.1%	$84.5M-29.7%	$120.1M-33.7%	$181.2M+169.3%	$67.3M-52.9%	$143.0M
Inventory	$18.1M-4.4%	$18.9M+19.9%	$15.8M+17.7%	$13.4M+9.5%	$12.2M+2.4%	$12.0M+4.8%	$11.4M+76.8%	$6.5M
Accounts Receivable	$28.8M+130.1%	$12.5M+163.7%	$4.7M+52.5%	$3.1M-15.6%	$3.7M+6.1%	$3.5M+7.8%	$3.2M+12.1%	$2.9M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.0B+9.9%	$909.8M-7.9%	$987.4M-11.9%	$1.1B-1.7%	$1.1B-12.1%	$1.3B+1.2%	$1.3B+49.1%	$859.4M
Current Liabilities	$281.9M+6.8%	$264.0M-5.9%	$280.4M-3.3%	$289.9M+10.8%	$261.8M-20.2%	$328.2M+34.1%	$244.8M+90.0%	$128.8M
Long-Term Debt	$614.0M+14.0%	$538.8M-13.0%	$619.2M-12.5%	$707.7M-5.0%	$744.6M-10.6%	$833.2M-5.3%	$880.1M+21.2%	$726.0M
Total Equity	$1.6B+12.3%	$1.5B+23.6%	$1.2B+10.5%	$1.1B+10.9%	$966.5M+15.8%	$834.4M+17.1%	$712.6M+20.1%	$593.4M
Retained Earnings	$953.0M+23.2%	$773.8M+58.5%	$488.1M+32.9%	$367.3M+49.1%	$246.4M+114.0%	$115.1M+752.9%	$13.5M+113.9%	-$96.9M

GSL Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$430.1M+14.7%	$375.0M+14.5%	$327.5M+32.1%	$248.0M+137.4%	$104.4M+11.8%	$93.4M
Capital Expenditures	$6.8M	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	$423.3M	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$254.6M-67.5%	-$152.0M-1438.0%	-$9.9M+97.9%	-$463.0M-1069.4%	-$39.6M+60.4%	-$99.9M
Financing Cash Flow	-$208.6M+1.7%	-$212.2M+12.8%	-$243.3M-176.4%	$318.4M+364.9%	-$120.2M-287.5%	$64.1M
Dividends Paid	$58.4M+9.7%	$53.2M+5.4%	$50.5M+80.7%	$27.9M	$0	$0
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

GSL Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	53.3%+2.5pp	50.9%-4.0pp	54.9%+1.8pp	53.0%+16.0pp	37.0%-5.7pp	42.7%
Net Margin	49.7%+4.6pp	45.1%-0.3pp	45.4%+7.1pp	38.3%+23.6pp	14.7%-0.6pp	15.3%
Return on Equity	24.2%-1.5pp	25.7%-4.6pp	30.3%+6.2pp	24.1%+15.1pp	8.9%-0.9pp	9.8%
Return on Assets	14.9%+0.9pp	14.0%+0.1pp	13.9%+5.3pp	8.6%+5.3pp	3.3%+0.3pp	2.9%
Current Ratio	1.14+0.1	1.05+0.1	0.91+0.3	0.59-0.3	0.88-0.4	1.25
Debt-to-Equity	0.37-0.2	0.52-0.2	0.77-0.5	1.24-0.3	1.49-0.5	1.99
FCF Margin	59.5%	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	5.4%
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	2.2%
Current Ratio	2.01+0.9	1.14+0.1	1.05+0.3	0.77-0.1	0.91+0.1	0.80+0.2	0.59-0.8	1.43
Debt-to-Equity	0.370.0	0.37-0.2	0.52-0.1	0.66-0.1	0.77-0.2	1.00-0.2	1.24+0.0	1.22
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Global Ship Lease Inc's annual revenue?

Global Ship Lease Inc (GSL) reported $711.1M in total revenue for fiscal year 2024. This represents a 5.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Global Ship Lease Inc's revenue growing?

Global Ship Lease Inc (GSL) revenue grew by 5.4% year-over-year, from $674.8M to $711.1M in fiscal year 2024.

Is Global Ship Lease Inc profitable?

Yes, Global Ship Lease Inc (GSL) reported a net income of $353.6M in fiscal year 2024, with a net profit margin of 49.7%.

What is Global Ship Lease Inc's EBITDA?

Global Ship Lease Inc (GSL) had EBITDA of $479.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Global Ship Lease Inc have?

As of fiscal year 2024, Global Ship Lease Inc (GSL) had $141.4M in cash and equivalents against $538.8M in long-term debt.

What is Global Ship Lease Inc's operating margin?

Global Ship Lease Inc (GSL) had an operating margin of 53.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Global Ship Lease Inc's net profit margin?

Global Ship Lease Inc (GSL) had a net profit margin of 49.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Global Ship Lease Inc's return on equity (ROE)?

Global Ship Lease Inc (GSL) has a return on equity of 24.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Global Ship Lease Inc's free cash flow?

Global Ship Lease Inc (GSL) generated $423.3M in free cash flow during fiscal year 2024. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Global Ship Lease Inc's operating cash flow?

Global Ship Lease Inc (GSL) generated $430.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Global Ship Lease Inc's total assets?

Global Ship Lease Inc (GSL) had $2.4B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Global Ship Lease Inc's capital expenditures?

Global Ship Lease Inc (GSL) invested $6.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Global Ship Lease Inc have outstanding?

Global Ship Lease Inc (GSL) had 35M shares outstanding as of fiscal year 2024.

What is Global Ship Lease Inc's current ratio?

Global Ship Lease Inc (GSL) had a current ratio of 1.14 as of fiscal year 2024, which is considered adequate.

What is Global Ship Lease Inc's debt-to-equity ratio?

Global Ship Lease Inc (GSL) had a debt-to-equity ratio of 0.37 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Global Ship Lease Inc's return on assets (ROA)?

Global Ship Lease Inc (GSL) had a return on assets of 14.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Global Ship Lease Inc's Altman Z-Score?

Global Ship Lease Inc (GSL) has an Altman Z-Score of 2.20, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Global Ship Lease Inc's Piotroski F-Score?

Global Ship Lease Inc (GSL) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Global Ship Lease Inc's earnings high quality?

Global Ship Lease Inc (GSL) has an earnings quality ratio of 1.22x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Global Ship Lease Inc cover its interest payments?

Global Ship Lease Inc (GSL) has an interest coverage ratio of 9.3x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Global Ship Lease Inc?

Global Ship Lease Inc (GSL) scores 77 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.