Company Valuation: First Ship Lease Trust

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 120.4 104.9 104.2 57.6 63.67 65.98
Change - -12.85% -0.71% -44.71% 10.55% 3.62%
Enterprise Value (EV) 1 129.5 118.1 87.56 35.53 54.01 45.15
Change - -8.82% -25.87% -59.42% 51.98% -16.4%
P/E 19.5x -66x 7.86x 15.7x 7.71x 9.62x
PBR 0.93x 1.59x 2.04x 1.05x 1.74x 1.52x
PEG - 1x -0x -0.2x 0x -0.6x
Capitalization / Revenue 2.49x 4.2x 4.3x 6.77x 7.53x 10.9x
EV / Revenue 2.68x 4.73x 3.61x 4.18x 6.39x 7.46x
EV / EBITDA - - - - - -
EV / EBIT 9.03x 121x 14.5x 10.3x 15.4x 23.4x
EV / FCF 0.97x 2.34x 1.34x 10.7x 4.36x 4.81x
FCF Yield 103% 42.7% 74.9% 9.33% 22.9% 20.8%
Dividend per Share 2 0.03 0.035 0.016 0.015 - -
Rate of return 44.1% 59% 27.2% 46% - -
EPS 2 0.0035 -0.000899 0.0075 0.002075 0.004671 0.003878
Distribution rate 857% -3,893% 213% 723% - -
Net sales 1 48.33 24.98 24.22 8.51 8.454 6.051
EBITDA - - - - - -
EBIT 1 14.35 0.977 6.027 3.456 3.517 1.932
Net income 1 6.246 -1.522 13.27 3.67 8.259 6.857
Net Debt 1 9.147 13.2 -16.6 -22.06 -9.668 -20.83
Reference price 2 0.0681 0.0593 0.0589 0.0326 0.0360 0.0373
Nbr of stocks (in thousands) 1,768,058 1,768,058 1,768,058 1,768,058 1,768,058 1,768,058
Announcement Date 4/4/21 3/27/22 4/2/23 3/27/24 4/8/25 4/7/26
1USD in Million2USD
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 50.04M
22.6x4.45x9.81x0.75% 64.61B
18.47x3.22x7.58x1.63% 29.6B
31.55x2.72x6.48x1.87% 5.09B
54.02x1.5x4.23x-.--% 4.46B
17.53x - - 1.76% 2.75B
14.56x0.7x2.76x1.99% 1.18B
12.14x - - - 1.14B
Average 24.41x 2.52x 6.17x 1.33% 13.61B
Weighted average by Cap. 22.86x 3.85x 8.70x 1.05%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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