The business behind the dividend
| Measure | GNK | Median | Formula |
|---|---|---|---|
| Return on equity | -0.5% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | 0.7% | 10.0% | Operating income ÷ (equity + total debt) |
| Owner earnings | $68.68m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $28.71m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 2.2% | 14.3% | Operating income ÷ revenue |
| Net margin | -1.3% | 10.1% | Net income ÷ revenue |
| Debt to equity | 0.21x | 0.73x | Total debt ÷ shareholders’ equity |
| Interest cover | 0.61x | 4.22x | Operating income ÷ interest expense |
| Current ratio | 2.39x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | 2.98x | 1.88x | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | — | — | Operating cash flow ÷ net income |
| Accruals | -3.2% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Cash conversion — why a blank is not a zero.
Ten years of it
The same measures, for every year the filings support. One year is a fact; a row is a business.
| Measure | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | -0.5% | 8.2% | -1.4% | 16.4% | 19.9% | -30.3% | -5.7% | -3.1% | -6.0% | -21.1% | -3.1% |
| Return on capital employed | 0.7% | 8.6% | -0.5% | 14.8% | 17.4% | -17.2% | -1.9% | 0.0% | -2.0% | -12.1% | -0.5% |
| Operating margin | 2.2% | 20.6% | -2.5% | 54.4% | 52.0% | -73.4% | -10.1% | 0.3% | -104.1% | -137.5% | -2.5% |
| Net margin | -1.3% | 18.1% | -5.5% | 51.6% | 47.0% | -81.4% | -19.9% | -16.5% | -206.4% | -160.6% | -16.5% |
| Debt to equity | 0.21x | 0.09x | 0.21x | 0.17x | 0.26x | 0.59x | 0.49x | 0.51x | 0.53x | 0.50x | 0.26x |
| Current ratio | 2.39x | 2.41x | 4.46x | 3.43x | 4.17x | 2.18x | 1.75x | 2.65x | 4.14x | 5.96x | 2.65x |
| Cash conversion | — | 1.66x | — | 1.19x | 1.27x | — | — | — | — | — | 1.27x |
How it compares in industrials
Among the 289 industrials companies here measured on free cash flow, Genco Shipping & Trading pays out less than 18 of them. The median for that group is 24.4%, against this company’s 114.3%.
Closest on free cash flow
- Hyster-Yale (HY) 107.6%
- United Parcel Service (UPS) 113.3%
- Flex LNG (FLNG) 115.3%
- Lifetime Brands (LCUT) 116.3%
Same sector and same denominator, so the figures are comparable. All 348 in industrials →