Financials Gulf Marine Services PLC

Equities

Market Closed - London S.E. Other stock markets 11:35:23 2024-04-26 am EDT			5-day change	1st Jan Change
22.4 ^GBX	-2.61%		-6.67%	+54.48%

Apr. 08	CMC rises again; Gulf Marine returns gains	AN
Apr. 05	Topps Tiles falls again; Gulf Marine rises	AN

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	33.88	29.47	79.21	57.16	187.6	283.6	-	-
Enterprise Value (EV) ¹	424	29.47	450.5	373	187.6	502	439.2	379.4
P/E ratio	-0.39 x	-	1.75 x	2.28 x	4.71 x	9.96 x	7.44 x	6.07 x
Yield	-	-	-	-	-	-	-	3.58%
Capitalization / Revenue	0.31 x	0.29 x	0.69 x	0.43 x	1.24 x	1.7 x	1.66 x	1.63 x
EV / Revenue	3.9 x	0.29 x	3.91 x	2.8 x	1.24 x	3.01 x	2.58 x	2.18 x
EV / EBITDA	8.25 x	-	7.02 x	5.22 x	2.14 x	5.2 x	4.35 x	3.58 x
EV / FCF	10.1 x	-	15.5 x	4.89 x	-	11.8 x	6.37 x	5.15 x
FCF Yield	9.89%	-	6.44%	20.4%	-	8.51%	15.7%	19.4%
Price to Book	0.1 x	-	-	-	-	0.85 x	0.75 x	0.66 x
Nbr of stocks (in thousands)	350,488	350,488	1,016,415	1,016,415	1,016,415	1,016,415	-	-
Reference price ²	0.0967	0.0841	0.0779	0.0562	0.1846	0.2790	0.2790	0.2790
Announcement Date	5/1/20	4/15/21	5/13/22	4/24/23	4/4/24	-	-	-

¹USD in Million²USD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	108.7	102	115.1	133.2	151.6	166.9	170.4	174.3
EBITDA ¹	51.38	-	64.12	71.48	87.52	96.57	101.1	105.8
EBIT ¹	16.36	-	33.4	39.53	55.35	69.34	71.75	74.3
Operating Margin	15.05%	-	29.01%	29.69%	36.51%	41.54%	42.1%	42.64%
Earnings before Tax (EBT) ¹	-81.77	-	32.93	27.13	44.93	45.8	53.65	62.5
Net income ¹	-85.46	-	31	25.33	41.34	37	43.6	50.85
Net margin	-78.61%	-	26.93%	19.02%	27.27%	22.17%	25.58%	29.18%
EPS ²	-0.2448	-	0.0446	0.0247	0.0392	0.0280	0.0375	0.0460
Free Cash Flow ¹	41.92	-	29.01	76.26	-	42.7	68.9	73.7
FCF margin	38.56%	-	25.2%	57.27%	-	25.58%	40.43%	42.29%
FCF Conversion (EBITDA)	81.6%	-	45.25%	106.69%	-	44.22%	68.17%	69.63%
FCF Conversion (Net income)	-	-	93.59%	301.12%	-	115.41%	158.03%	144.94%
Dividend per Share ²	-	-	-	-	-	-	-	0.0100
Announcement Date	5/1/20	4/15/21	5/13/22	4/24/23	4/4/24	-	-	-

¹USD in Million²USD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	390	-	371	316	-	218	156	95.8
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	7.593 x	-	5.79 x	4.418 x	-	2.262 x	1.539 x	0.905 x
Free Cash Flow ¹	41.9	-	29	76.3	-	42.7	68.9	73.7
ROE (net income / shareholders' equity)	-5.39%	-	-	-	-	10.5%	11.4%	11.4%
ROA (Net income/ Total Assets)	-	-	-	-	-	5.3%	6.5%	7.5%
Assets ¹	-	-	-	-	-	698.1	670.8	678
Book Value Per Share ²	0.9400	-	-	-	-	0.3300	0.3700	0.4200
Cash Flow per Share ²	-	-	0.0600	0.0800	-	0.0300	0.0400	0.0500
Capex ¹	4.64	-	11.5	6.3	-	15	11.7	12.5
Capex / Sales	4.27%	-	9.99%	4.73%	-	8.99%	6.85%	7.17%
Announcement Date	5/1/20	4/15/21	5/13/22	4/24/23	4/4/24	-	-	-

¹USD in Million²USD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.279 USD

Average target price

0.328 USD

Spread / Average Target

+17.56%

	1st Jan change	Capi.
GULF MARINE SERVICES PLC	+54.48%	284M
ENBRIDGE INC.	+2.64%	76.02B
ENTERPRISE PRODUCTS PARTNERS L.P.	+10.28%	63.11B
WILLIAMS COMPANIES	+12.72%	47.84B
ONEOK, INC..	+15.44%	47.31B
MPLX LP	+14.24%	42.4B
KINDER MORGAN, INC.	+5.90%	41.46B
TC ENERGY CORPORATION	-4.75%	37.36B
TARGA RESOURCES CORP.	+34.52%	26.01B
CHENIERE ENERGY PARTNERS, L.P.	-1.57%	23.72B