Global Ship Lease, Inc. (GSL) Income Statement
GSL 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGSL revenue and net income
Where GSL's revenue goes
2025Each bar shows an amount and its share of revenue. GSL kept 54.3% of revenue as net income.
GSL profit margins
GSL growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +8.6% | +8.2% | +22.1% | +16.6% |
| Gross profit | +5.2% | +7.1% | +27.6% | +19.4% |
| Operating income | +2.6% | +3.2% | +30.0% | +35.1% |
| Net income | +17.8% | +12.4% | +58.6% | — |
| EPS (diluted) | +2.7% | +7.4% | +29.9% | +17.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GSL quarterly EPS vs estimates
Global Ship Lease beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 9, 2026 (estimate $2.32).
GSL income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $766.5M | $705.5M | $666.7M | $604.5M | $402.5M | $282.3M | $261.1M | $157.1M | $159.0M | $166.5M |
| Cost of revenue | $355.5M | $314.8M | $294.5M | $269.9M | $205.0M | $161.0M | $140.7M | $86.3M | $81.4M | $88.5M |
| Gross profit | $410.9M | $390.7M | $372.2M | $334.6M | $197.6M | $121.3M | $120.4M | $70.8M | $77.5M | $78.0M |
| Sales, general & admin | $22.1M | $17.1M | $18.2M | $18.5M | $13.2M | $8.3M | $8.8M | $9.2M | $5.3M | $6.3M |
| Total operating expenses | $22.1M | $11.6M | $29.0M | −$19.6M | −$40.0M | $16.6M | $8.8M | $9.2M | $5.2M | $6.1M |
| Operating income | $388.9M | $379.1M | $343.2M | $354.2M | $237.5M | $104.8M | $111.6M | −$10.3M | −$15.3M | −$20.5M |
| Interest income | $19.2M | $16.7M | $8.2M | $2.5M | $68.8M | $956,000 | $73.2M | $47.3M | $58.9M | $44.6M |
| Interest expense | $39.0M | $40.7M | $44.8M | $75.3M | $69.2M | $65.4M | $75.0M | $48.7M | $59.4M | $44.8M |
| Income before taxes | $416.5M | $353.6M | $304.9M | $292.9M | $171.6M | $41.6M | $39.8M | −$57.3M | −$74.2M | −$65.0M |
| Income taxes | — | $1,000 | $448,000 | −$50,000 | $56,000 | $49,000 | $3,000 | $55,000 | $40,000 | $46,000 |
| Net income | $416.5M | $353.6M | $304.5M | $292.9M | $171.5M | $41.6M | $39.8M | −$57.4M | −$74.3M | −$65.1M |
| EBITDA | $577.4M | $494.3M | $441.5M | $449.5M | $302.3M | $153.9M | $160.7M | $25.5M | $21.4M | $20.4M |
| EPS (diluted) | $10.26 | $9.99 | $9.03 | $8.28 | $4.57 | $2.77 | $1.51 | $6.32 | −$1.36 | $3.48 |
| Gross margin | 53.6% | 55.4% | 55.8% | 55.4% | 49.1% | 43.0% | 46.1% | 45.1% | 48.8% | 46.9% |
| Operating margin | 50.7% | 53.7% | 51.5% | 58.6% | 59.0% | 37.1% | 42.7% | −6.5% | −9.6% | −12.3% |
| Net margin | 54.3% | 50.1% | 45.7% | 48.5% | 42.6% | 14.7% | 15.3% | −36.5% | −46.7% | −39.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $192.3M | $198.1M | $190.9M | $192.7M | $188.5M | $187.8M | $181.4M | $172.5M | $173.5M | $179.6M | $177.4M | $173.0M |
| Cost of revenue | $97.6M | $91.8M | $93.6M | $89.7M | $85.9M | $86.3M | $82.3M | $78.0M | $77.1M | $77.4M | $76.7M | $76.1M |
| Gross profit | $94.6M | $106.3M | $97.4M | $103.0M | $102.6M | $101.4M | $99.1M | $94.6M | $96.4M | $102.2M | $100.6M | $96.9M |
| Sales, general & admin | $7.2M | $8.8M | $9.7M | $3.7M | $4.1M | $4.6M | $4.1M | $3.9M | $4.0M | $5.1M | $4.5M | $4.2M |
| Total operating expenses | $7.2M | $8.8M | $9.7M | $3.7M | $865,000 | −$27.1M | $3.1M | $2.4M | $2.5M | $5.1M | $21.8M | $2.7M |
| Operating income | $87.4M | $97.4M | $87.7M | $99.2M | $101.8M | $128.5M | $96.0M | $92.2M | $93.8M | $97.1M | $78.9M | $94.2M |
| Interest income | $5.6M | $5.7M | $5.9M | $5.4M | $4.7M | $3.2M | $4.2M | $4.7M | $4.1M | $3.7M | $2.9M | $2.5M |
| Interest expense | $9.4M | $9.3M | $9.0M | $9.5M | $10.6M | $9.9M | $7.8M | $12.5M | $9.9M | $10.4M | $11.2M | $11.6M |
| Income before taxes | $91.7M | $93.8M | $102.6M | $95.0M | $95.4M | $123.4M | $92.6M | $81.1M | $88.0M | $91.9M | $67.5M | $85.1M |
| Income taxes | — | — | — | — | — | — | — | — | $1,000 | $24.2M | $443,000 | $12.8M |
| Net income | $91.7M | $93.8M | $102.6M | $95.0M | $95.4M | $123.4M | $92.6M | $81.1M | $88.0M | $91.9M | $67.0M | $85.1M |
| EBITDA | $128.9M | $136.6M | $142.7M | $131.9M | $136.4M | $159.8M | $126.6M | $117.1M | $122.5M | $124.9M | $103.1M | $119.1M |
| EPS (diluted) | $2.48 | $2.56 | $2.32 | $2.62 | $2.67 | $2.65 | $2.55 | $2.45 | $2.46 | $2.53 | $2.49 | $2.33 |
| Gross margin | 49.2% | 53.6% | 51.0% | 53.4% | 54.4% | 54.0% | 54.6% | 54.8% | 55.6% | 56.9% | 56.7% | 56.0% |
| Operating margin | 45.5% | 49.2% | 45.9% | 51.5% | 54.0% | 68.4% | 52.9% | 53.4% | 54.1% | 54.1% | 44.5% | 54.4% |
| Net margin | 47.7% | 47.4% | 53.7% | 49.3% | 50.6% | 65.7% | 51.0% | 47.0% | 50.7% | 51.2% | 37.8% | 49.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GSL's financial statements (latest annual report filed March 16, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GSL financial results
In fiscal year 2025 (ended December 31, 2025), Global Ship Lease reported revenue of $766.5 million, up 8.6% from the year before. It had net income of $416.5 million (up 17.8%), a net profit margin of 54.3%. Diluted earnings per share came to $10.26. Over five years revenue grew at an average rate of 22.1% a year.
See the GSL stock overview for the latest quote and news, or the GSL chart for price history and technical indicators.
GSL income statement FAQ
What is Global Ship Lease's annual revenue?
Global Ship Lease reported total revenue of $766.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 8.6% from $705.5 million the previous year.
Is Global Ship Lease profitable?
Yes. Global Ship Lease reported net income of $416.5 million in fiscal 2025, a net profit margin of 54.3%; its operating margin was 50.7%.
What is Global Ship Lease's gross margin?
Global Ship Lease's gross margin was 53.6% in fiscal 2025: for every $100 of revenue, Global Ship Lease kept $54 after the direct cost of its products and services.
How fast is Global Ship Lease growing?
Revenue grew 22.1% a year on average over the last five fiscal years, from $282.3 million to $766.5 million.
What are Global Ship Lease's earnings per share?
Global Ship Lease earned $10.26 per diluted share in fiscal 2025, compared with $9.99 a year earlier.
When will Global Ship Lease report its next earnings?
Global Ship Lease is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 before the market opens.
When does Global Ship Lease's fiscal year end?
Global Ship Lease's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 16, 2026.