Ardmore Shipping Corporation (ASC) vs Global Ship Lease, Inc. (GSL)

Ardmore Shipping Corporation and Global Ship Lease, Inc. are both Marine Shipping companies. Global Ship Lease, Inc. is the larger, with a market value of $1.5B against $775.4M — 1.9× the size. Global Ship Lease, Inc. trades at the lower P/E: 4.0× against 7.3×. Ardmore Shipping Corporation grew revenue faster over the last twelve months: 13.6% against 5.55%. Global Ship Lease, Inc. has the higher net margin (47.9% vs 28.7%) and the higher return on invested capital (12.1% vs 9.57%). Both pay a dividend; Ardmore Shipping Corporation yields more (7.24% vs 6.05%). Across the 23 metrics below, Global Ship Lease, Inc. leads on 18 and Ardmore Shipping Corporation on 5.

Valuation

Metric ASC GSL Marine Shipping median
P/E 7.31 3.97 8.37
P/S 2.10 1.91 1.87
P/B 1.10 0.76 0.86
Price to free cash flow 13.03 3.11 4.66
EV/EBITDA 5.08 3.10 6.48
EV/Sales 2.06 2.03 2.70
Earnings yield 13.68% 25.17% 10.65%
Free cash flow yield 7.67% 32.20% 17.95%

Profitability

Metric ASC GSL Marine Shipping median
Gross margin 47.15% 68.83% 60.61%
Operating margin 28.48% 50.76% 27.74%
Net margin 28.67% 47.87% 25.21%
Free cash flow margin 16.09% 65.72% 16.32%
Return on equity 16.02% 20.81% 8.62%
Return on assets 14.45% 13.28% 5.35%
Return on invested capital 9.57% 12.11% 5.32%

Growth

Metric ASC GSL Marine Shipping median
Revenue growth (TTM) 13.60% 5.55% 13.26%
EPS growth (last fiscal year) (71.24%) 17.04% (16.82%)
Revenue growth, 5-year CAGR 7.11% 22.07% 11.77%
Net income growth, 5-year CAGR 0.00% 79.75% 0.00%

Health

Metric ASC GSL Marine Shipping median
Debt to equity 0.05 0.35 0.52
Current ratio 5.45 2.13 1.63
Net debt to EBITDA 0.92 0.29 2.34

Dividend

Metric ASC GSL Marine Shipping median
Dividend yield 7.24% 6.05% 4.68%
Payout ratio 0.53 0.24 0.31

Size

Metric ASC GSL Marine Shipping median
Market cap 775.37m 1.51b 391.73m

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