Fundamental analysis D8DU.SI (First Ship Lease Trust)

Updated on 10/16/2026

Method and analysis by Lubin Danilo, founder of Lubin Investment. Score computed automatically, with no human opinion.

We analyzed First Ship Lease Trust stock against the 10 quality criteria of Lubin Investment. The company gets a quality score of 6/10, meaning medium quality, and a P/FCF valuation multiple of 10.9×.

First Ship Lease Trust fails part of our quality criteria without the price making up for it. Neither quality nor valuation argues in its favour today, according to our 10 hard criteria.

Sector: Rental & Leasing Services. Listing: SI. Current price: 0.04 SGD.

Lubin scoring methodology

First Ship Lease Trust (D8DU.SI)'s score is calculated automatically from 10 objective financial criteria, with no human intervention or opinion. Each criterion is validated (YES / PARTIAL / NO) based on thresholds drawn from the financial literature (Warren Buffett, Michael Mauboussin, Aswath Damodaran). The final score is the sum of validations.

The thresholds come from the financial literature, not from our preferences: see the valuation work of Aswath Damodaran (NYU Stern) and the SEC investor education resources (investor.gov).

The 10 quantitative criteria analyzed

1. Profitable: net margin > 5%
2. Growing revenue: revenue growing > 10%/year over 5 years
3. Growing earnings per share: FCF per share adjusted for stock-based compensation, > 10%/year over 5 years
4. Share count under control: stable or declining (net buybacks = value creation for shareholders)
5. Growing revenue per employee: revenue and revenue per employee both grow ≥ 10%/year over 5 years; partial when only one growth driver reaches its tier (fallback: free cash flow margin > 10% when employee history is unavailable)
6. Expanding margins: operating margin widens over 5 years (operating leverage)
7. Return on invested capital: Cash ROCE > 15% per year
8. Debt under control: net debt repayable in less than 3 years of free cash flow
9. Earnings converted to cash: free cash flow exceeds accounting net income
10. Net collection period: short or negative cash conversion cycle

Its price against peers

Against the 5 other Rental & Leasing Services stocks we have scored, First Ship Lease Trust trades at 10.9× its free cash flow, versus a median of 6.0× for that basket. On price alone, First Ship Lease Trust is therefore more expensive than its peers. That says nothing about its quality: at Lubin Investment, quality and price are judged separately, and a low multiple is only a bargain if the quality holds up.

Frequently asked questions

Is First Ship Lease Trust a quality stock?

First Ship Lease Trust gets a quality score of 6/10 (medium quality), calculated over the 10 Lubin Investment criteria: profitability, revenue and free cash flow growth, share buybacks, margins, debt and return on capital.

How is First Ship Lease Trust's score calculated?

The score is the total of validated criteria (YES / PARTIAL / NO) using thresholds drawn from the financial literature (Warren Buffett, Mauboussin, Aswath Damodaran), automatically and with no human opinion.

What is First Ship Lease Trust's P/FCF?

The price-to-free-cash-flow (P/FCF) multiple of First Ship Lease Trust stock is 10.9×. At Lubin Investment, valuation is judged separately from quality.

Where to see First Ship Lease Trust's full analysis?

The full interactive analysis (10-criteria detail, history, P/FCF valuation, sector comparisons) is available at https://lubin-investment.com/analyse/D8DU.SI?lng=en.

Other stocks in the Rental & Leasing Services sector

• General de Alquiler de Maquinaria (GAM.MC), score 9/10, P/FCF 2.6×
• Beyaz Filo Oto Kiralama A.S. (BEYAZ.IS), score 9/10, P/FCF 6.0×
• Brightstar Technology Group (8446.HK), score 9/10, P/FCF 0.2×
• Nippon Care Supply (2393.T), score 9/10, P/FCF 26.5×

Go further

👉 See the full interactive analysis of D8DU.SI

Other resources : All stocks in the Rental & Leasing Services sector.