GNKGENCO SHIPPING & TRADING LTD
Deep Sea Foreign Transportation Of Freight
- Revenue
- $342M
- 19% YoY
- Operating margin
- 2.2%
- 89% YoY
- EBITDA
- $84M
- 46% YoY
- Market cap
- $1.1B
- Employees
- —
- Net debt / EBITDA
- 2.9×
- $246M net debt
- AI in 10-K
- 0.0
- mentions per 10K words
Takeover score 7 of 13
Fixable underperformance 3 of 7
- TSR below peersYes3 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$4M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Payouts exceed cash flowYes139% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo13% of assetsOver 40% of assets
- Shareholder dissentYes25% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AIYes0.0 per 10K words · 0th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo2.9× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$1.1B market capMarket cap $500M–$5B
Catalysts 2 of 2
- Active 13DYes22 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$63M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $387M | $307M | $233M | $423M | $342M | 19% |
| Operating income | $201M | $167M | −$6M | $87M | $7M | 91% |
| Net income | $182M | $159M | −$13M | $76M | −$4M | 106% |
| Operating cash flow | $231M | $189M | $92M | $127M | $32M | 75% |
| Capex | $2M | $4M | $3M | $3M | $3M | 6.1% |
| Stock-based comp | $2M | $3M | $6M | $6M | $7M | 20% |
| Dividends | $13M | $116M | $41M | $68M | $33M | 51% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Jun 15, 2015 | DEFM14A | — | $7.10 | 0.216% |
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Sep 16, 2026 | DIANA SHIPPING INC. | SCHEDULE 13D/A | 4.9% | Passive |
| Sep 9, 2026 | DIANA SHIPPING INC. | SCHEDULE 13D/A | 5.5% | Passive |
| Aug 27, 2026 | DIANA SHIPPING INC. | SCHEDULE 13D/A | 10.1% | Passive |
| Aug 25, 2026 | DIANA SHIPPING INC. | SCHEDULE 13D/A | 11.6% | Passive |
| Aug 17, 2026 | DIANA SHIPPING INC. | SCHEDULE 13D/A | 14.4% | Passive |
| Aug 10, 2026 | DIANA SHIPPING INC. | SCHEDULE 13D/A | 14.4% | Passive |
| Jul 27, 2026 | DIANA SHIPPING INC. | SC 13D/A | 14.4% | Active |
| Jul 13, 2026 | DIANA SHIPPING INC. | SC 13D/A | 14.4% | Active |
| Jul 8, 2026 | DIANA SHIPPING INC. | SC 13D/A | 14.4% | Active |
| Jul 8, 2026 | DIANA SHIPPING INC. | SC 13D/A | 14.4% | Active |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $63M · 32
- Net
- −$63M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $4M | $6M | 358 | 288 |
| FY2024 | $4M | $4M | 258 | 219 |
| FY2023 | $3M | $4M | 283 | 290 |
| FY2022 | $5M | $6M | 247 | 251 |
| FY2021 | $3M | $5M | 222 | 229 |