Financials Genco Shipping & Trading Limited

Equities

GNK

MHY2685T1313

Marine Freight & Logistics

Real-time Estimate Cboe BZX Other stock markets 11:01:19 09/05/2024 pm IST			5-day change	1st Jan Change
22.68 ^USD	+0.13%		+2.53%	+37.01%

04:37pm	Jefferies Adjusts Price Target on Genco Shipping & Trading to $27 From $26, Maintains Buy Rating	MT
08/05	Earnings Flash (GNK) GENCO SHIPPING & TRADING LIMITED Posts Q1 EPS $0.49, vs. Street Est of $0.51	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	443.4	307.7	670.8	650.1	705.7	968.3	-	-
Enterprise Value (EV) ¹	770.3	603.4	794.4	761	851.1	1,006	928.3	841.3
P/E ratio	-7.93 x	-1.37 x	3.75 x	4.15 x	-55.3 x	11.1 x	11.7 x	9.78 x
Yield	3.3%	1.09%	6.06%	16.7%	5.18%	6.99%	7.12%	7.01%
Capitalization / Revenue	2.05 x	1.55 x	1.67 x	1.7 x	2.93 x	3.13 x	3.17 x	3.21 x
EV / Revenue	3.56 x	3.04 x	1.98 x	1.99 x	3.53 x	3.25 x	3.04 x	2.79 x
EV / EBITDA	10.6 x	8.41 x	3.14 x	3.36 x	8.38 x	6.23 x	5.79 x	5.19 x
EV / FCF	21 x	8.12 x	6.99 x	5.67 x	-382 x	5.89 x	6.42 x	5.5 x
FCF Yield	4.76%	12.3%	14.3%	17.6%	-0.26%	17%	15.6%	18.2%
Price to Book	0.45 x	0.41 x	0.73 x	0.67 x	0.78 x	1.02 x	0.98 x	0.96 x
Nbr of stocks (in thousands)	41,754	41,802	41,925	42,327	42,539	42,752	-	-
Reference price ²	10.62	7.360	16.00	15.36	16.59	22.65	22.65	22.65
Announcement Date	25/02/20	24/02/21	24/02/22	22/02/23	21/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	216.5	198.6	400.9	383	240.9	309.8	305.4	301.9
EBITDA ¹	72.48	71.77	252.9	226.8	101.5	161.6	160.5	162.1
EBIT ¹	-0.619	7.453	200.6	167.2	-5.847	84.63	86.36	96.79
Operating Margin	-0.29%	3.75%	50.03%	43.66%	-2.43%	27.32%	28.28%	32.05%
Earnings before Tax (EBT) ¹	-55.98	-225.6	182	159.4	-12.36	99.27	88.68	98.5
Net income ¹	-55.98	-225.6	182	158.6	-12.87	86.7	79.52	98.5
Net margin	-25.86%	-113.6%	45.39%	41.4%	-5.34%	27.98%	26.04%	32.62%
EPS ²	-1.340	-5.380	4.270	3.700	-0.3000	2.048	1.934	2.315
Free Cash Flow ¹	36.68	74.34	113.7	134.3	-2.228	171	144.7	153
FCF margin	16.94%	37.43%	28.35%	35.06%	-0.93%	55.19%	47.38%	50.67%
FCF Conversion (EBITDA)	50.6%	103.57%	44.94%	59.22%	-	105.85%	90.18%	94.39%
FCF Conversion (Net income)	-	-	62.45%	84.7%	-	197.23%	181.96%	155.33%
Dividend per Share ²	0.3500	0.0800	0.9700	2.570	0.8600	1.583	1.613	1.587
Announcement Date	25/02/20	24/02/21	24/02/22	22/02/23	21/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	117.5	146.7	97.76	105.3	96.47	83.5	56.96	61.73	49.1	73.07	80.24	79.3	82.47	88.51	72.83
EBITDA ¹	79.82	102.2	57.97	64.24	60.26	46.1	19.88	30	14.55	37.09	41.86	43.88	55.67	43.52	31.51
EBIT ¹	65.53	87.36	42.09	49.2	45.18	30.77	4.443	13.03	-30.35	7.036	22.09	13.58	15.74	28.1	21.43
Operating Margin	55.79%	59.57%	43.06%	46.72%	46.83%	36.85%	7.8%	21.1%	-61.81%	9.63%	27.54%	17.12%	19.08%	31.75%	29.42%
Earnings before Tax (EBT) ¹	57.13	90.89	41.86	47.62	41.05	28.83	2.86	11.54	-31.86	5.106	18.94	22.38	34.79	27.93	10.3
Net income ¹	57.13	90.85	41.69	47.38	40.83	28.68	2.634	11.56	-32	4.937	18.8	15.56	21.96	27.42	10.3
Net margin	48.64%	61.94%	42.64%	45%	42.32%	34.34%	4.62%	18.73%	-65.17%	6.76%	23.43%	19.61%	26.63%	30.98%	14.14%
EPS ²	1.340	2.130	0.9700	1.100	0.9500	0.6700	0.0600	0.2700	-0.7500	0.1100	0.4300	0.4233	0.7067	0.6250	-
Dividend per Share ²	0.1500	0.6700	0.7900	0.5000	0.7800	0.5000	0.1500	0.1500	0.1500	0.4100	0.2850	0.3050	0.5333	0.4567	-
Announcement Date	03/11/21	24/02/22	04/05/22	03/08/22	09/11/22	22/02/23	03/05/23	04/08/23	08/11/23	21/02/24	08/05/24	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	327	296	124	111	145	38	-	-
Net Cash position ¹	-	-	-	-	-	-	40	127
Leverage (Debt/EBITDA)	4.509 x	4.12 x	0.4889 x	0.4888 x	1.432 x	0.2352 x	-	-
Free Cash Flow ¹	36.7	74.3	114	134	-2.23	171	145	153
ROE (net income / shareholders' equity)	-5.51%	-26.2%	21.9%	16.8%	-1.37%	11.5%	8.55%	9.9%
ROA (Net income/ Total Assets)	-3.55%	-16.3%	14.9%	13.3%	-1.11%	7.7%	3.6%	10.4%
Assets ¹	1,578	1,381	1,218	1,188	1,158	1,126	2,209	947.1
Book Value Per Share ²	23.40	17.80	21.90	22.90	21.40	22.30	23.00	23.70
Cash Flow per Share ²	1.430	0.8800	5.430	4.410	2.150	3.980	4.170	4.090
Capex ¹	50.4	20	117	56	94	15.2	15.2	13.5
Capex / Sales	23.3%	10.09%	29.3%	14.63%	39.03%	4.9%	4.97%	4.47%
Announcement Date	25/02/20	24/02/21	24/02/22	22/02/23	21/02/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Genco Shipping & Trading Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

22.65 USD

Average target price

23.94 USD

Spread / Average Target

+5.71%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Deep Sea Freight

	1st Jan change	Capi.
GENCO SHIPPING & TRADING LIMITED	+37.01%	968M
EVERGREEN MARINE CORPORATION (TAIWAN) LTD.	+23.69%	11.37B
WALLENIUS WILHELMSEN ASA	+33.03%	4.59B
COMPAÑÍA SUD AMERICANA DE VAPORES S.A.	+34.90%	4.01B
STAR BULK CARRIERS CORP.	+23.42%	2.95B
COSCO SHIPPING SPECIALIZED CARRIERS CO.,LTD.	+24.63%	1.89B
SHANGHAI JINJIANG SHIPPING (GROUP) CO., LTD.	-12.81%	1.85B
ZIM INTEGRATED SHIPPING SERVICES LTD.	+62.40%	1.78B
GULF NAVIGATION HOLDING	-0.68%	1.63B
WISDOM MARINE LINES CO., LIMITED (CAYMAN)	+35.77%	1.61B

Deep Sea Freight