# Genco Shipping & Trading Limited (GNK)

> Source: Nexqual · https://nexqual.com/GNK · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Genco Shipping & Trading Limited (GNK), nexqual.com/GNK" · informational, not investment advice.

**Price:** USD 25.63 (+2.93% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 24.9 · day 24.78–25.63 · 52w 15.58–28.42 · market cap $1.12B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $441M, net income $40.3M (9.1% margin), free cash flow $70.0M (SEC filings).
- Valuation: P/E 27.7x (avg 8.0x at the last 1 fiscal year-ends), EV/EBITDA 9.7x, net debt $246M.
- Insider open-market sales, last ~7 months: 6 Form 4 filings, $60.5M; 6 not under a Rule 10b5-1 plan ($60.5M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.17 on a 1–5 scale) (6 analysts), mean target USD 29.36 (range 26.8–32).
- Total return with dividends: 1Y +72.7% vs S&P 500 +13.4%; 5Y +126.3% vs S&P 500 +76.9%.
- Next earnings: 2026-11-04, EPS estimate USD 0.89, revenue estimate $110M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $547M | $537M | $384M | $423M | $342M | $441M |
| Operating income | $201M | $167M | -$5.8M | $87.0M | $7.5M | $56.6M |
| Net income | $182M | $159M | -$12.9M | $76.4M | -$4.4M | $40.3M |
| EPS (diluted) | $4.27 | $3.70 | -$0.30 | $1.75 | -$0.10 | — |
| Free cash flow | $230M | $186M | $89.1M | $124M | $28.7M | $70.0M |
| Operating margin | 36.8% | 31.1% | -1.5% | 20.6% | 2.2% | 12.8% |
| Net margin | 33.3% | 29.5% | -3.4% | 18.1% | -1.3% | 9.1% |
| Revenue growth | +53.9% | -1.9% | -28.5% | +10.2% | -19.1% | — |
| Cash + short-term investments | $115M | $58.1M | $46.5M | $43.7M | $55.5M | — |
| Total debt | $238M | $165M | $190M | $82.2M | $189M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 27.7x · P/S 2.5x · EV/EBITDA 9.7x · EV/Sales 3.1x · P/FCF 16.0x · P/B 1.3x · FCF yield 6.26% · Earnings yield 3.61% · Dividend yield (paid, TTM) 4.55% · Net debt $246M · EV $1.36B
P/E at fiscal year-ends: Dec 2024 8.0x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 6 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-01…2026-09-02 | Diana Shipping Inc. |  | 275,000 | $7.3M | 6.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-27…2026-08-28 | Diana Shipping Inc. |  | 10,707 | $279K | 0.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-25 | Diana Shipping Inc. |  | 648,256 | $17.2M | 12.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-21…2026-08-24 | Diana Shipping Inc. |  | 1,200,000 | $32.1M | 19.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-18 | Diana Shipping Inc. |  | 40,000 | $979K | 0.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-14…2026-05-15 | Diana Shipping Inc. |  | 108,603 | $2.7M | 1.7% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.17 on a 1–5 scale), 6 analysts; mean target USD 29.36 (low 26.8, high 32).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +72.7% | +126.3% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +73.0% | +17.8% |
| Volatility (annualized) | 36.5% | 37.9% |
| Max drawdown | -17.3% (Mar 2026→Mar 2026) | -51.0% (May 2022→Sep 2022) |

## Peers (Marine Shipping)
CCEC (Capital Clean Energy Carriers C) USD 20.27 +0.15% · CMRE (Costamare Inc.) USD 14.02 -0.92% · SFL (SFL Corporation Ltd) USD 12.66 +2.59% · HOS (Hornbeck Offshore Services, Inc) USD 7.1 +8.07% · NMM (Navios Maritime Partners LP) USD 89.37 +1.23% · SBLK (Star Bulk Carriers Corp.) USD 28.98 +1.15%

## More
Full page: https://nexqual.com/GNK · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in GNK's own 10-K filed 2026-02-18 (https://www.sec.gov/Archives/edgar/data/1326200/000110465926017117/gnk-20251231x10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Rio Tinto (RIO) | "For the year ended December 31, 2023, there were two customers that individually accounted for more than 10% of voyage revenues, Rio Tinto Shipping (Asia) Pte." |

## Customer concentration

Period ended 2025-12-31: 11% of revenue from unnamed direct customers (10-K, filed 2026-02-18).

## Company outlook (8-K filed 2026-08-05)

- "Based on our significant operating leverage in a strengthening market, firm fixtures to date and assuming the current FFA curve, we project a record Q3 dividend of over $1 per share, an increase of more than 560% year-over-year."
- "The actual market value of our vessels may vary. 2 Fleet Renewal and Growth The Company expects to take delivery of the Genco Volunteer, a 2019 Imabari built 182,000 dwt scrubber-fitted Capesize vessel, in August 2026."
- "Pro forma for this vessel acquisition, we expect to have $380 million of debt outstanding and $300 million of undrawn revolver availability."
- "Subject to the development of freight rates for the remainder of the third quarter and our assessment of our liquidity and forward outlook, we maintain flexibility to reduce the quarterly reserve to pay dividends or increase the amount of 3 dividends otherwise payable under our formula."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.89 | $0.57 | +56.9% | $110.4M | 4 |
| Next quarter (ends 2026-12-31) | $0.85 | $0.40 | +111.8% | $109.8M | 4 |
| Current fiscal year (ends 2026-12-31) | $2.76 | $2.19 | +26.0% | $392.0M | 5 |
| Next fiscal year (ends 2027-12-31) | $1.73 | $1.75 | -1.3% | $360.2M | 5 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-04): ±10.6%; last 8 reports averaged ±3.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 33.7% | ±10.6% |
| 2027-02-19 | 119 | 36.1% | ±16.0% |
| 2027-05-21 | 210 | 28.1% | ±17.3% |