Added to YB: 2025-10-28
Pitch date: 2025-10-25
GMS.L [neutral]
Gulf Marine Services PLC
-3.43%
current return
Author Info
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Company Info
Gulf Marine Services PLC, together with its subsidiaries, operates self-propelled self-elevating support vessels (SESVs) in the United Arab Emirates, the Kingdom of Saudi Arabia, Qatar, and Europe.
Market Cap
GBP 252.9M
Pitch Price
GBP 0.16
Price Target
N/A
Dividend
N/A
EV/EBITDA
4.53
P/E
7.14
EV/Sales
2.53
Sector
Energy Equipment and Services
Category
value
Gulf Marine Services 3Q25 update
GMS.L (earnings update): Strong Q3 results validate thesis - revenue up $6.4M driven by higher day rates ($36,777 vs $36K) & 89% utilization. Annualized EBITDA of £91.4M = 2.1x market cap, 3.5x EV/EBITDA. Debt down to 1.63x EBITDA (divs at 1.5x). 89% Middle East exposure benefits from KSA/Qatar growth. Oil services narrative of weakness contradicted by sector profitability.
Read full article (5 min)