Financial flexibility has improved significantly as the company successfully deleveraged, reducing total debt from $812.4M in 2023Q4 to $652.9M by 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 |
|---|
| Total Current Assets | 681.26M | 626.99M | 301.24M | 295.68M | 237.05M | 143.36M | 98.61M | 161.87M | 98.97M | 77.39M | 56.93M | 57.63M | 39.84M | 38.39M | 44.02M | 45.5M | 40.98M | 44.16M | 33M | 192.87M | 32.09M |
| Cash & Short-Term Investments | 549.23M | 523.5M | 167.53M | 152.64M | 128.68M | 75.18M | 81.58M | 138.02M | 82.06M | 73.27M | 54.24M | 53.59M | 33.3M | 24.54M | 26.14M | 25.81M | 28.36M | 30.81M | 26.36M | 1.89M | -17.82M |
| Cash Only | 455.56M | 324.4M | 141.38M | 138.64M | 120.13M | 67.28M | 81.58M | 138.02M | 82.06M | 73.27M | 54.24M | 53.59M | 33.3M | 24.54M | 26.14M | 25.81M | 28.36M | 30.81M | 26.36M | 1.89M | -17.82M |
| Short-Term Investments | 93.67M | 199.1M | 26.15M | 14M | 8.55M | 7.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 55.1M | 50.03M | 12.84M | 5.37M | 4.36M | 6.12M | 4.77M | 7.92M | 4.5M | 2.35M | 987K | 2.33M | 2.24M | 7.12M | 15.58M | 14.75M | 7.61M | 8.45M | 2.35M | 185K | 27.21M |
| Days Sales Outstanding | 19.88 | 23.83 | 6.64 | 2.94 | 2.63 | 5.55 | 6.16 | 11.07 | 10.47 | 5.4 | 2.16 | 5.15 | 5.9 | 18.15 | 37.11 | 34.45 | 17.48 | 20.74 | 8.84 | 0.2 | 33.15 |
| Inventory | 14.84M | 14.6M | 18.91M | 15.76M | 12.24M | 11.41M | 6.32M | 5.59M | 5.77M | 742K | 553K | 610K | 553K | 5.34M | 2.29M | 0 | 0 | 0 | 0 | 1.61M | 4M |
| Days Inventory Outstanding | 15.4 | 14.99 | 21.92 | 19.54 | 16.55 | 20.32 | 14.32 | 14.51 | 24.4 | 3.33 | 2.28 | 2.34 | 2.25 | 22.55 | 9.73 | - | - | - | - | - | - |
| Other Current Assets | 62.09M | 38.86M | 98.63M | 107.2M | 73.8M | 41.73M | 5.37M | 5.42M | 3.67M | 610K | 0 | 0 | 0 | 1.39M | 4K | 19K | 1.27M | 1.19M | 0 | 188.75M | 0 |
| Total Non-Current Assets | 2.22B | 2.23B | 2.07B | 1.88B | 1.87B | 1.85B | 1.18B | 1.19B | 1.13B | 597.8M | 719.33M | 847.29M | 846.78M | 819.86M | 859.66M | 894.03M | 940.04M | 983.2M | 933.61M | 481.76M | 312.38M |
| Property, Plant & Equipment | 2B | 2B | 1.9B | 1.68B | 1.63B | 1.69B | 1.14B | 1.17B | 1.11B | 597.79M | 719.12M | 846.94M | 836.54M | 817.88M | 856.42M | 890.3M | 922.51M | 977.96M | 922.64M | 475.3M | 286.23M |
| Fixed Asset Turnover | 0.39x | 0.38x | 0.37x | 0.40x | 0.37x | 0.24x | 0.25x | 0.22x | 0.14x | 0.27x | 0.23x | 0.19x | 0.17x | 0.18x | 0.18x | 0.18x | 0.17x | 0.15x | 0.11x | 0.71x | 1.05x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.47M | 5.4M | 7K | 16K | 39K | 67K | 95K | 73K | 92K | 13.67M | 0 | 7.84M | 0 | 0 |
| Long-Term Investments | 252.35M | 113.6M | 0 | 0 | 0 | 0 | 10.68M | 5.7M | 5.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 117.58M | 121.77M | 168.73M | 199.79M | 240.98M | 161.8M | 22.95M | 22.11M | 16.34M | 0 | 195K | 306K | 10.17M | 1.88M | 3.17M | 3.63M | 3.87M | 5.08M | 3.13M | 6.46M | 26.15M |
| Total Assets | 2.9B | 2.86B | 2.37B | 2.17B | 2.11B | 1.99B | 1.27B | 1.35B | 1.23B | 675.18M | 776.26M | 904.92M | 886.63M | 858.25M | 903.68M | 939.53M | 981.02M | 1.03B | 966.61M | 674.63M | 344.47M |
| Asset Turnover | 0.28x | 0.27x | 0.30x | 0.31x | 0.29x | 0.20x | 0.22x | 0.19x | 0.13x | 0.24x | 0.21x | 0.18x | 0.16x | 0.17x | 0.17x | 0.17x | 0.16x | 0.14x | 0.10x | 0.50x | 0.87x |
| Asset Growth % | 72.32% | 20.56% | 9.28% | 3.11% | 5.62% | 56.5% | -5.74% | 9.59% | 82.69% | -13.02% | -14.22% | 2.06% | 3.31% | -5.03% | -3.82% | -4.23% | -4.51% | 6.28% | 43.28% | 95.85% | - |
| Total Current Liabilities | 301.49M | 306.78M | 264M | 280.44M | 261.77M | 244.76M | 112.21M | 129.6M | 95.52M | 57.04M | 47.98M | 53.63M | 19.98M | 69.18M | 75.69M | 70.28M | 71.38M | 94.48M | 19.02M | 409.09M | 37.84M |
| Accounts Payable | 63.85M | 61.91M | 12.3M | 14.9M | 19.11M | 7.91M | 10.56M | 8.09M | 8.93M | 1.21M | 963K | 622K | 2.12M | 1.29M | 5.35M | 1.29M | 1.39M | 3.5M | 36K | 502K | 19.65M |
| Days Payables Outstanding | 54.08 | 63.56 | 14.26 | 18.46 | 25.84 | 14.08 | 23.94 | 20.98 | 37.76 | 5.41 | 3.97 | 2.39 | 8.63 | 5.44 | 22.74 | 10.31 | 12.07 | 30.9 | 0.41 | - | - |
| Short-Term Debt | 147.57M | 147.57M | 136.56M | 164.89M | 189.83M | 190.32M | 76.68M | 87.53M | 64.09M | 40M | 30.29M | 35.16M | 0 | 50.11M | 50.57M | 46M | 46.62M | 70.42M | 1.61M | 401.1M | 0 |
| Deferred Revenue (Current) | 143.94M | 48.88M | 44.74M | 40.33M | 12.57M | 8.5M | 5.62M | 9.99M | 3.12M | 2.18M | 1.94M | 796K | 462K | 6.89M | 5.42M | 4.95M | 5.58M | 4.59M | 6.44M | 6.1M | 0 |
| Other Current Liabilities | 42.05M | 48.42M | 0 | 0 | -34.41M | -36.67M | 19.35M | 0 | 0 | 0 | 1.81M | 2.1M | 2.12M | 10.89M | 14.34M | 18.04M | 17.8M | 15.97M | 10.94M | -802.2M | 0 |
| Current Ratio | 2.26x | 2.04x | 1.14x | 1.05x | 0.91x | 0.59x | 0.88x | 1.25x | 1.04x | 1.36x | 1.19x | 1.07x | 1.99x | 0.55x | 0.58x | 0.65x | 0.57x | 0.47x | 1.74x | 0.47x | 0.85x |
| Quick Ratio | 2.21x | 2.00x | 1.07x | 1.00x | 0.86x | 0.54x | 0.82x | 1.21x | 0.98x | 1.34x | 1.18x | 1.06x | 1.97x | 0.48x | 0.55x | 0.65x | 0.57x | 0.47x | 1.74x | 0.47x | 0.74x |
| Cash Conversion Cycle | -18.8 | -24.75 | 14.3 | 4.01 | -6.66 | 11.79 | -3.45 | 4.6 | -2.9 | 3.32 | 0.47 | 5.11 | -0.48 | 35.26 | 24.11 | - | - | - | - | - | - |
| Total Non-Current Liabilities | 722.84M | 753.34M | 645.76M | 706.95M | 877.96M | 1.04B | 697.24M | 815.83M | 821.61M | 366.54M | 399.38M | 454.52M | 428.51M | 389.6M | 461.4M | 535.06M | 585.08M | 605.32M | 652.55M | 178.06M | 136.63M |
| Long-Term Debt | 505.31M | 541.58M | 538.78M | 619.17M | 744.56M | 880.13M | 692.77M | 809.36M | 813.13M | 358.51M | 389.58M | 442.91M | 414.78M | 361.23M | 420.08M | 437.61M | 510.44M | 519.89M | 568.45M | 0 | 121.34M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 141.66M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -57.49M | -68.34M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9K | 17K | 20K | 20K | 34K | 43K | 27K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 102.87M | 90.05M | 49.43M | 5.66M | 14.22M | -86.28M | 4.46M | 6.47M | 8.47M | 8.01M | 9.78M | 11.59M | 13.69M | -29.16M | -27.05M | 97.44M | 74.64M | 85.43M | 84.1M | 445.96M | 15.29M |
| Total Liabilities | 1.02B | 1.06B | 909.76M | 987.39M | 1.14B | 1.28B | 809.45M | 945.42M | 917.13M | 423.58M | 447.36M | 508.15M | 448.49M | 458.78M | 537.09M | 605.34M | 656.46M | 699.8M | 671.57M | 587.15M | 174.47M |
| Total Debt | 652.88M | 689.14M | 684.06M | 812.43M | 968.8M | 1.25B | 769.46M | 896.89M | 877.22M | 398.51M | 419.87M | 478.07M | 414.78M | 366.37M | 425.68M | 483.61M | 557.06M | 590.31M | 570.06M | 401.1M | 139.16M |
| Net Debt | 197.32M | 364.75M | 542.68M | 673.79M | 848.67M | 1.18B | 687.87M | 758.87M | 795.16M | 325.25M | 365.63M | 424.48M | 381.49M | 341.83M | 399.53M | 457.8M | 528.7M | 559.5M | 543.69M | 399.21M | 156.98M |
| Debt / Equity | 0.35x | 0.38x | 0.47x | 0.69x | 1.00x | 1.75x | 1.66x | 2.21x | 2.77x | 1.58x | 1.28x | 1.20x | 0.95x | 0.92x | 1.16x | 1.45x | 1.72x | 1.80x | 1.93x | 4.59x | 0.82x |
| Debt / EBITDA | 1.26x | 1.31x | 1.43x | 1.87x | 2.22x | 4.18x | 5.07x | 5.70x | 34.82x | 17.59x | 18.81x | 7.71x | 5.11x | 4.10x | 4.25x | 5.50x | 6.21x | 6.06x | 9.91x | 8.67x | 2.16x |
| Net Debt / EBITDA | 0.38x | 0.70x | 1.13x | 1.55x | 1.95x | 3.95x | 4.53x | 4.82x | 31.56x | 14.36x | 16.38x | 6.85x | 4.70x | 3.82x | 3.99x | 5.21x | 5.89x | 5.74x | 9.45x | 8.63x | 2.44x |
| Interest Coverage | 10.30x | 9.98x | 9.69x | 7.80x | 4.89x | 3.48x | 1.64x | 1.53x | -0.18x | -0.25x | -0.45x | 0.40x | 1.14x | 2.73x | 2.51x | 1.44x | 0.84x | 2.77x | -0.70x | 2.24x | 3.17x |
| Total Equity | 1.88B | 1.8B | 1.46B | 1.18B | 966.49M | 712.55M | 464.74M | 406.4M | 316.36M | 251.6M | 328.89M | 396.77M | 438.14M | 399.47M | 366.59M | 334.2M | 324.56M | 327.56M | 295.04M | 87.47M | 170M |
| Equity Growth % | 89.85% | 23.07% | 23.56% | 22.55% | 35.64% | 53.32% | 14.36% | 28.46% | 25.74% | -23.5% | -17.11% | -9.44% | 9.68% | 8.97% | 9.69% | 2.97% | -0.91% | 11.02% | 237.28% | -48.54% | - |
| Book Value per Share | 51.24 | 50.44 | 41.13 | 32.96 | 25.98 | 20.07 | 25.82 | 33.43 | 42.52 | 36.34 | 47.61 | 57.51 | 73.29 | 66.90 | 61.57 | 56.35 | 47.80 | 48.38 | 57.28 | 6998.00 | 13599.68 |
| Total Shareholders' Equity | 1.88B | 1.8B | 1.46B | 1.18B | 966.49M | 712.55M | 464.74M | 406.4M | 316.36M | 251.6M | 328.89M | 396.77M | 438.14M | 399.47M | 366.59M | 334.2M | 324.56M | 327.56M | 295.04M | 87.47M | 170M |
| Common Stock | 359K | 359K | 355K | 351K | 359K | 365K | 177K | 175K | 795K | 550K | 550K | 549K | 549K | 549K | 549K | 549K | 545K | 541K | 537K | 0 | 0 |
| Retained Earnings | 1.17B | 1.1B | 773.76M | 488.11M | 246.39M | 13.5M | -121.79M | -159.36M | -196.12M | -135.69M | -58.37M | 9.79M | 51.24M | 46.24M | 13.72M | -18.2M | -27.28M | -23.3M | -53.31M | -96.92M | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.18M | 1.78M | 8.62M | 19.34M | 31.48M | 227K | 0 | 0 | -111.61M | -148.01M | -376.17M | -248.31M | -234.15M | -196.6M | -158.2M | -122.3M | -85.8M | -45.8M | 0 | 4.74M | 21.97M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Charter Renewal Rate Sensitivity
According to recent quarterly filings, GSL has successfully reduced its debt-to-equity ratio from 0.69 in 2023Q4 to 0.35 in 2026Q1, signaling a deliberate and effective shift toward a more conservative capital structure that strengthens the company's resilience against cyclical downturns in the global shipping industry.
The consistent reduction in leverage, coupled with a steady accumulation of retained earnings, suggests that management is prioritizing balance sheet integrity over aggressive expansion. This trajectory appears to provide the company with significant optionality to navigate future market volatility or pursue opportunistic fleet renewals.
As reported in financial statements, GSL's total debt has declined to $652.9M as of 2026Q1, a notable improvement from the $812.4M observed in 2023Q4, which effectively lowers the company's interest burden and enhances the durability of its cash flows in a fluctuating interest rate environment.
The current debt profile appears manageable given the company's long-term charter backlog, which provides predictable cash inflows to service obligations. Investors should monitor whether this low-leverage stance is maintained as the company approaches potential capital-intensive environmental compliance deadlines for its aging fleet.
Based on GSL's reported figures, the current ratio has expanded to 2.26 in 2026Q1 from 1.05 in 2023Q4, indicating a substantial improvement in the company's ability to cover short-term obligations and providing a meaningful buffer against unexpected operational or market-driven liquidity shocks.
The significant increase in cash reserves to $455.6M suggests a strategic focus on maintaining high liquidity, likely to ensure operational continuity during periods of dry-docking or market uncertainty. This liquidity position appears to be a key pillar of the company's current fortress-like balance sheet status.
As indicated by the company's balance sheet data, net PPE has remained relatively stable at approximately $2.0B, suggesting that GSL's capital expenditure strategy is effectively balancing vessel depreciation with necessary fleet maintenance to preserve the core revenue-generating capacity of its mid-sized containership fleet.
The absence of goodwill on the balance sheet is a positive indicator of asset quality, suggesting that the carrying value of the fleet is not inflated by historical acquisition premiums. This transparency in asset valuation warrants further investigation into whether the current book value accurately reflects the potential market value of the vessels.
According to recent SEC filings, GSL carries $162.7M in deferred revenue as of 2026Q1, a metric that investors should scrutinize as it represents future performance obligations that may distort the timing of recognized income versus actual cash receipts from charter counterparties.
While deferred revenue provides visibility into future earnings, it also highlights the company's reliance on the continued solvency of its major liner counterparties. Any disruption in these long-term contracts could lead to a rapid reversal of these balances, potentially impacting the company's reported financial stability.
Quick answers to the most common questions about buying GSL stock.
As of 2025, Global Ship Lease, Inc. (GSL) had total assets of $2.86B including $627.0M in current assets.
Global Ship Lease, Inc. (GSL) carries total debt of $689.1M, offset by $523.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Global Ship Lease, Inc. (GSL) has total shareholders' equity (book value) of $1.80B ($50.44 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Global Ship Lease, Inc. (GSL) reported a current ratio of 2.04x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.