GLBE
Global-E Online Ltd.
Next earnings Aug 11, 2026 (before open) · consensus $0.22 EPS, $289M rev
$36.85
▲ +3.19%$36.85▲ +12.28%
over 1Y
L $27.54H $41.59
Today+3.2%
1W+7.3%
1M+10.7%
3M+18.2%
YTD-2.7%
1Y+12.3%
Hold
Conviction
Horizon
Long (>12mo)
Street · 21 analysts
Buy
Cross-border e-commerce platform hit its profitability inflection with 28% growth and surging cash flow, but 84x earnings prices in a lot.
Revenue (FY2025) $962M · FY2025
The read
Middling fundamentals and a rich price (~60% above fair value) leave little margin of safety — a wait-and-see.
Global-E Online is a leading cross-border e-commerce enablement platform that helps merchants sell internationally (localized checkout, duties/taxes, shipping, payments), with a deep strategic partnership with Shopify. FY2025 was a milestone year: revenue grew 27.8% to $962M and the company crossed into GAAP profitability for the first time, posting net income of $68.3M (up 190.4% from a prior-year loss) and operating income of $71.7M, with diluted EPS of $0.39. This caps a clear multi-year inflection — net losses narrowed from -$195M (FY2022) to -$75.5M (FY2024) before turning positive — as the platform scaled across a growing base of global brands.
Cash generation is a standout and arguably the strongest part of the story: operating cash flow surged 67.5% to $284M against negligible capex of $3.10M, meaning free cash flow runs well ahead of GAAP earnings (which carry heavy non-cash stock-based compensation and the Shopify warrant amortization typical of this model). The balance sheet is sound, with $246M cash, equity of $933M and moderate leverage (liabilities/equity 0.57x). Gross margin of 45.3% is lower than a pure-software business because revenue includes pass-through fulfillment and shipping, so the model is better judged on gross-profit growth (up 28.5%) and cash conversion than on headline gross margin.
Is GLBE a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~90d expiry
- Long 100 shares @ ~36.85
- Short call 39 @ ~2.92 est
debit $3,393max +$507max −$3,392BE 33.93
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $245M | $409M | $570M | $753M | $962M |
| Gross profit | $91.4M | $158M | $234M | $339M | $436M |
| Operating income | -$65.7M | -$189M | -$137M | -$67.9M | $71.7M |
| Net income | -$74.9M | -$195M | -$134M | -$75.5M | $68.3M |
| Diluted EPS | -$0.74 | -$1.24 | -$0.81 | -$0.45 | $0.39 |
| Net margin | -30.6% | -47.8% | -23.5% | -10.0% | 7.1% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$5.94B
EV / EBITDA80.3
EV / Sales6.2
EV / FCF21.2
P / FCF22.1
PEG (trailing)0.50
Earnings yield1.1%
FCF yield4.5%
Quality & risk
ROIC (est.)6.1%
Free cash flow$281M
Total debt—
Net cash$246M
Altman Z-Score7.70 safe
Piotroski F-Score7/8
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY-0.0%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Recent filings
all on EDGAR ↗144Filing2026-07-02open ↗6-KPeriod ending 2026-07-012026-07-01open ↗4Period ending 2026-06-252026-06-29open ↗4Period ending 2026-06-262026-06-29open ↗4Period ending 2026-06-252026-06-29open ↗144Filing2026-06-26open ↗144Filing2026-06-26open ↗144Filing2026-06-25open ↗4Period ending 2026-06-242026-06-25open ↗144Filing2026-06-24open ↗4Period ending 2026-06-182026-06-22open ↗4Period ending 2026-06-172026-06-18open ↗
Frequently asked
- Is Global-E Online Ltd. (GLBE) a buy?
- GLBE currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Cross-border e-commerce platform hit its profitability inflection with 28% growth and surging cash flow, but 84x earnings prices in a lot.
- What is GLBE's fair value?
- A Modified-Graham model based on GLBE's SEC fundamentals estimates a fair value of about $14.57. It is an estimate from reported earnings, not a price target.
- Is GLBE overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, GLBE currently appears overvalued relative to its SEC-grounded earnings power.
- What is Global-E Online Ltd.'s quality score?
- GLBE scores 66.81984204178049/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001835963, latest 144 filed 2026-07-02) · EODHD · Proprietary analysis · as of 6/21/2026, 9:00:13 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 5:00 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.