Owner Scorecard


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Volume two · ADRs

G

40 entries, GAMB to GSM · entries 3,140–3,179 of 3,828

Foreign filers on US exchanges. Figures as filed, in each company's home currency.

GAMB Gambling.com Group Limited

Mark has led the Company through multiple debt and equity raises including the Company's IPO, has helped develop and implement the Company's organic and acquired growth strategies and has scaled key functions and policies to support the Company's growth.

Owner earnings 2019–2025 $4M$11M$14M$18M$17M$36M$18M

Retained capital Retained $9M of earnings over 2019–2025; annual owner earnings grew $15M, $1.71 per $1 retained.

Balance sheet Net debt against an operating loss, $93M

GASS StealthGas Inc.

We own a fleet of LPG carriers providing international seaborne transportation services to LPG producers and users.

Owner earnings 2016–2025 ($20M)($8M)($70M)$28M$4M$16M$42M$77M($3M)$85M

Retained capital Retained $145M of earnings over 2016–2025; annual owner earnings grew $86M, $0.59 per $1 retained.

Balance sheet Net cash, debt-free, +$126M

GAU Galiano Gold Inc.

A metals and mining business, a price-taker on a global commodity.

Owner earnings 2016–2025 $2M$59M($9M)($9M)($6M)($13M)$2M($4M)$32M$95M

Retained capital Paid out $288M more than it earned over 2016–2025; annual owner earnings grew $24M.

Balance sheet Modest net debt, $11M

GCL GCL Global Holdings Ltd

A software business, earning high margins on code once it is written.

Owner earnings 2023–2025 ($5M)$1M($10M)

Retained capital not read

Balance sheet Net debt against an operating loss, $35M

GDEV GDEV Inc.

A software business, earning high margins on code once it is written.

Owner earnings 2019–2025 $15M$120M$104M$115M$17M$28M$29M

Retained capital Paid out $311M more than it earned over 2019–2025; annual owner earnings fell $55M.

Balance sheet Net cash, +$108M · dividend paid 4 of 7 yrs, never cut

GDHG Golden Heaven Group Holdings Ltd.

An asset-light business: the value sits in intellectual property and people, not plant, so the question is how durable the advantage is, not how high the margin.

Owner earnings 2021–2024 ($6M)$19M($27M)($3M)

Retained capital not read

Balance sheet Net cash, debt-free, +$86M

GDS GDS Holdings Limited ADS

A software business, earning high margins on code once it is written.

Owner earnings 2016–2025 (CN¥356M)(CN¥546M)(CN¥754M)(CN¥849M)(CN¥1.3B)(CN¥1.4B)(CN¥311M)(CN¥1.1B)(CN¥1.2B)(CN¥94M)

Retained capital Paid out CN¥4.6B more than it earned over 2016–2025; annual owner earnings fell CN¥266M.

Balance sheet Net debt against an operating loss, CN¥11.6B

GENI Genius Sports Limited

Genius is a B2B provider of scalable, technology-led products and services to the sports, sports betting and sports media industries.

Owner earnings 2019–2025 ($725K)$16M($70M)($9M)$11M$70M$65M

Retained capital Paid out $1.1B more than it earned over 2019–2025; annual owner earnings grew $67M.

Balance sheet Net cash, +$281M

GFI Gold Fields Limited

A metals and mining business, a price-taker on a global commodity.

Owner earnings 2015–2024 $418M$289M($102M)($246M)$233M$528M$517M$535M$398M$980M

Retained capital Retained $2.2B of earnings over 2015–2024; annual owner earnings grew $436M, $0.20 per $1 retained.

Balance sheet Modest net debt, $1.6B · dividend paid 10 of 10 yrs, cut at least once

GFL GFL Environmental Inc.

We are the fourth largest diversified environmental services company in North America, as measured by revenue and North American operating footprint.

Owner earnings 2019–2025 (C$207M)C$74MC$251MC$331M(C$75M)C$347MC$175M

Retained capital Paid out C$2.4B more than it earned over 2019–2025; annual owner earnings grew C$110M.

Balance sheet Modest net debt, C$7.3B · dividend paid 6 of 7 yrs, never cut

GFR Greenfire Resources Ltd.

An oil and gas business, whose fortunes rise and fall with a price it does not set.

Owner earnings 2021–2025 C$27MC$125MC$53MC$57MC$25M

Retained capital Retained C$767M of earnings over 2021–2025; annual owner earnings fell C$24M, C$-0.03 per C$1 retained.

Balance sheet Modest net debt, C$38M · dividend paid 1 of 5 yrs, never cut

GFS GlobalFoundries Inc.

A semiconductor business, riding a brutal capacity cycle on the edge of Moore's Law.

Owner earnings 2019–2025 ($91M)$412M$1.1B$1.2B$804M$1.1B$1.0B

Retained capital Paid out $83M more than it earned over 2019–2025; annual owner earnings grew $506M.

Balance sheet Net cash, +$797M

GGAL Grupo Financiero Galicia S.A.

Galicia Banco Galicia is one of Argentina's largest full-service banks and is a leading provider of financial services in Argentina.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied · dividend paid 8 of 8 yrs, never cut

GGB Gerdau S.A.

A metals and mining business, a price-taker on a global commodity.

Owner earnings 2016–2025 R$2.2BR$1.2BR$805M(R$104M)R$4.8BR$9.5BR$8.3BR$8.1BR$8.3BR$4.3B

Retained capital Retained R$20.8B of earnings over 2016–2025; annual owner earnings grew R$5.5B, R$0.26 per R$1 retained.

Balance sheet net position not read (debt under-captured) · dividend paid 10 of 10 yrs, cut at least once

GGR Gogoro Inc.

Revenue is led by Battery swapping service revenue (53%) and Hardware and Related Revenue (38%), with 2 more lines behind.

Owner earnings 2019–2025 ($151M)($144M)($47M)($188M)($59M)($115M)($29M)

Retained capital Paid out $518M more than it earned over 2019–2025; annual owner earnings grew $46M.

Balance sheet Net debt against an operating loss, $262M · dividend paid 3 of 7 yrs, cut at least once

GIB CGI Inc.

Description of CGI's Business Mission, Vision and Strategy The mission of CGI is to help its clients succeed through outstanding quality, competence and objectivity, providing thought leadership and delivering the best services and solutions to fully satisfy client objectives in information technology, business processes, and management.

Owner earnings 2017–2024 C$1.2BC$1.4BC$1.5BC$1.8BC$2.0BC$1.7BC$2.0BC$2.1B

Retained capital Retained C$10.4B of earnings over 2017–2024; annual owner earnings grew C$563M, C$0.05 per C$1 retained.

Balance sheet Modest net debt, C$1.2B

GIBO GIBO Holdings Limited

GIBO.ai offers a suite of AI-powered animation content creation tools through GIBO Create , our integrated suite of AI-powered content creation tools which enables content creators on our platform to improve their productivity and effortlessly become pros at content production.

Owner earnings FY2024 $23M

Retained capital not read

Balance sheet net position not read

GIL Gildan Activewear Inc. Class A Sub. Vot.

Gildan acquired is a global leader in everyday iconic apparel.

Owner earnings 2017–2025 $521M$431M$232M$364M$490M$425M$356M$500M

Retained capital Retained $1.9B of earnings over 2017–2025; annual owner earnings grew $32M, $0.02 per $1 retained.

Balance sheet Heavy net debt, $3.6B · dividend paid 8 of 8 yrs, cut at least once

GILT Gilat Satellite Networks Ltd.

Revenue is Commercial (62%), Defense (22%) and Network Infrastructure and Services (15%).

Owner earnings 2016–2025 ($41M)($21M)$21M$27M$38M$10M($2M)$21M$25M$9M

Retained capital Retained $72M of earnings over 2016–2025; annual owner earnings grew $32M, $0.45 per $1 retained.

Balance sheet Net cash, +$124M · dividend paid 3 of 10 yrs, cut at least once

GLAS Glass House Brands Inc.

A pharmaceutical business, where patents grant a temporary monopoly the pipeline must keep refilling.

Owner earnings 2020–2025 ($10M)($25M)($52M)$11M$18M($4M)

Retained capital not read

Balance sheet Net debt against an operating loss, $69M

GLBE Global-E Online Ltd.

We operate at the forefront of global e-commerce, which is being transformed by technology, internet adoption and the rise of social networks connecting the world.

Owner earnings 2019–2025 $7M$29M$18M$88M$106M$167M$281M

Retained capital Paid out $487M more than it earned over 2019–2025; annual owner earnings grew $167M.

Balance sheet Net cash, debt-free, +$320M

GLBS Globus Maritime Limited

We are an integrated dry bulk shipping company, providing marine transportation services on a worldwide basis.

Owner earnings 2016–2025 ($4M)$386K$4M$159K($6M)$17M$27M($4M)$5M$11M

Retained capital Paid out $30M more than it earned over 2016–2025; annual owner earnings grew $4M.

Balance sheet Heavy net debt, $25M · dividend paid 1 of 10 yrs, cut at least once

GLNG Golar Lng Ltd

Our unique position as the only service provider allows LNG resource owners a liquefaction solution with a proven design, market leading operational track record and no capex requirement for the FLNG solution until cash flow from LNG sales start.

Owner earnings FY2016 ($115M)

Retained capital not read

Balance sheet Heavy net debt, $1.6B

GLOB Globant S.A.

A software business, earning high margins on code once it is written.

Owner earnings 2016–2025 $25M$34M$56M$65M$84M$159M$172M$286M$221M$282M

Retained capital Retained $804M of earnings over 2016–2025; annual owner earnings grew $225M, $0.28 per $1 retained.

Balance sheet Modest net debt, $97M

GMHS Gamehaus Holdings Inc.

A software business, earning high margins on code once it is written.

Owner earnings 2023–2025 $2M$4M$2M

Retained capital not read

Balance sheet Net cash, debt-free, +$17M

GNS Genius Group Limited

Revenue is Academy (56%), Resorts (26%) and School (17%).

Owner earnings 2020–2025 ($2M)($3M)($8M)($13M)($46M)($13M)

Retained capital not read

Balance sheet Net debt against an operating loss, $6M

GOOS CANADA GOOSE HOLDINGS INC.

Revenue is DTC (74%), Wholesale (19%) and Other (7%).

Owner earnings 2016–2025 (C$11M)C$33MC$117MC$55MC$6MC$262MC$117MC$71MC$110MC$275M

Retained capital Retained C$367M of earnings over 2016–2025; annual owner earnings grew C$106M, C$0.29 per C$1 retained.

Balance sheet Net cash, +C$330M

GOTU Gaotu Techedu Inc.

Gaotu Techedu Inc. is a company incorporated outside of mainland China.

Owner earnings 2017–2025 (CN¥50M)CN¥238MCN¥1.3BCN¥548M(CN¥4.3B)CN¥36MCN¥313MCN¥197MCN¥312M

Retained capital not read

Balance sheet Net cash, +CN¥3.3B

GPRK Geopark Ltd

An oil and gas business, whose fortunes rise and fall with a price it does not set.

Owner earnings 2016–2025 $44M$67M$164M$109M$93M$128M$371M$180M$340M($84M)

Retained capital Retained $42M of earnings over 2016–2025; annual owner earnings grew $54M, $1.29 per $1 retained.

Balance sheet Heavy net debt, $453M · dividend paid 7 of 10 yrs, cut at least once

GRAB Grab Holdings Limited

We operate our deliveries business currently do not require a delivery license for the delivery-partners on our platform or license for delivery platform operators.

Owner earnings 2022–2025 ($856M)$15M$775M($18M)

Retained capital Paid out $2.5B more than it earned over 2022–2025; annual owner earnings grew $279M.

Balance sheet Net cash, +$1.4B

GRABW Grab Holdings Limited

We operate our deliveries business currently do not require a delivery license for the delivery-partners on our platform or license for delivery platform operators.

Owner earnings 2022–2025 ($856M)$15M$775M($18M)

Retained capital Paid out $2.5B more than it earned over 2022–2025; annual owner earnings grew $279M.

Balance sheet Net cash, +$1.4B

GRAN Grande Group Limited

Grande Capital is a boutique financial firm that focuses on providing quality corporate finance advisory services to clients in Asia.

Owner earnings FY2025 $775K

Retained capital not read

Balance sheet Net cash, debt-free, +$2M

GRFS Grifols S.A.

Revenue is led by Biopharma (85%) and Diagnostic (9%), with 2 more segments behind.

Owner earnings 2015–2024 €553M€304M€590M€505M€259M€830M€350M(€285M)(€6M)€670M

Retained capital Retained €2.4B of earnings over 2015–2024; annual owner earnings fell €356M, €-0.15 per €1 retained.

Balance sheet Net cash, +€371M · dividend paid 9 of 10 yrs, cut at least once

GROY Gold Royalty Corp.

Gold Royalty is a precious metals focused royalty and streaming company offering creative financing solutions to the metals and mining industry.

Owner earnings 2021–2022 ($12M)($19M)

Retained capital not read

Balance sheet Net cash, debt-free, +$14M

GRRR Gorilla Technology Group Inc.

Gorilla is a global solution provider specializing in Security Intelligence, Network Intelligence, Business Intelligence, and Internet of Things.

Owner earnings 2020–2024 ($6M)$2M($9M)($9M)($30M)

Retained capital not read

Balance sheet Net debt against an operating loss, $1M

GRVY GRAVITY CO., LTD.

Gravity is an online and mobile games developer and publisher based in Korea.

Owner earnings 2015–2024 (₩6.4B)₩2.3B₩25.6B₩34.8B₩25.4B₩68.8B₩72.4B₩97.5B₩130.0B₩77.9B

Retained capital Retained ₩497.0B of earnings over 2015–2024; annual owner earnings grew ₩94.6B, ₩0.19 per ₩1 retained.

Balance sheet net position not read (debt under-captured)

GSIW Garden Stage Limited

We, through our Operating Subsidiaries, are a Hong Kong-based financial services provider principally engaged in the provision of placing and underwriting services; securities dealing and brokerage services; asset management services; investment advisory services; due diligence services; and introduction and referral services.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied

GSK GSK plc

A pharmaceutical business, where patents grant a temporary monopoly the pipeline must keep refilling.

Owner earnings 2016–2025 £5.0B£5.4B£7.1B£6.8B£7.5B£7.0B£6.3B£5.5B£5.2B£6.4B

Retained capital Retained £12.3B of earnings over 2016–2025; annual owner earnings fell £134M, £-0.01 per £1 retained.

Balance sheet Modest net debt, £14.3B · dividend paid 10 of 10 yrs, cut at least once

GSL Global Ship Lease Inc New Class A

A capital-intensive business, run on heavy physical assets that must be kept working and earn a return above what they cost to maintain.

Owner earnings 2016–2025 $72M$67M$36M$84M$100M$243M$322M$355M$417M$514M

Retained capital Retained $1.2B of earnings over 2016–2025; annual owner earnings grew $371M, $0.32 per $1 retained.

Balance sheet Modest net debt, $415M · dividend paid 5 of 10 yrs

GSM Ferroglobe PLC

Revenue is led by Silicon Metal Product Line (32%) and Manganese Alloys Product Line (27%), with 4 more lines behind.

Owner earnings 2016–2025 $50M$76M$11M($64M)$124M($29M)$353M$95M$167M($10M)

Retained capital Paid out $690M more than it earned over 2016–2025; annual owner earnings grew $38M.

Balance sheet Net debt against an operating loss, $6M · dividend paid 7 of 10 yrs, cut at least once

The same four lines for every company, in strict ticker order; a figure that could not be read renders as "not read," never as a mark against the record beside it. The entries carry no ranking and form no score. What an entry cannot carry — understanding of the business, and a price — is yours.