Quality Investor

Global-E Online Ltd.

Rank #226Hypergrowth

GLBE · Nasdaq · Consumer Cyclical

Global-E Online Ltd. (GLBE) — Rank #226 by gross profitability (GP/assets 0.30) · ROE 7.3% · Piotroski F-Score 6 / 9.

As-of 2026-09-15 · CIK 0001835963 · all metrics point-in-time as of the filing date.

About

Global-E Online Ltd., together with its subsidiaries, provides direct-to-consumer cross-border e-commerce platform in Israel, the United Kingdom, the United States, and internationally.

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Its platform enables international shoppers to buy online, and merchants to sell from and to worldwide.

The company was incorporated in 2013 and is headquartered in Petah Tikva, Israel.

Industry
Internet Retail
Sector
Consumer Cyclical
State
L3
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Price History

GLBE-53.3% · -14.1% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

$6.21B

P/E (annual)

94.7

P/S (annual)

6.5

P/B

6.7

P/OCF (annual)

21.9

Shareholder Yield

-5.2%

Employees

1,219

Industry

Internet Retail

Exchange

Nasdaq

Signal Flags

1 green1 yellow
Deferred revenue growingRevenue and deferred revenue both growing — retention signal
Dilution above 2%Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation

Quality Profile

Profitability

1/1 pass
GP / assets
0.30
Return on equity
7.3%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.57
Current ratio
1.93×
Net cash
$321.09M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
4.1%

Growth

1/2 pass
Revenue growth
27.8%
Piotroski F-Score
6 / 9
Share dilution
5.2%

Terry Smith quality gate

Passes 1/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

9.7%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 5.2% — per-share value needs a total required return of 14.9% once share-count change is priced in.

vs. own 6-year median revenue growth: 53.1%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

5.3%

r = 10% (base)

9.7%

r = 12%

13.5%

Net debt / market cap: -4.9%

Base FCF: $280.7M3Y mean FCF: $184.7M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / S

Price / revenue per share

5.7xCheap
5.7xmed 9.5x13.2x

P / B

Price / book value per share

5.8xFair
4.7xmed 5.8x6.9x

P / GP

Price / gross profit per share

12.5xCheap
12.5xmed 25.6x35.5x

P / FCF

Price / free cash flow per share

19.4xCheap
19.4xmed 56.1x252.4x

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.30

Primary signal (Novy-Marx).

35th pctl of 38 SIC 7372 peers

Return on equity

7.3%

Gross margin

45.3%

8th pctl of 38 SIC 7372 peers

Revenue growth (YoY)

27.8%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

33.0%

Revenue CAGR (5Y)

47.8%

Earnings CAGR (3Y)

FCF CAGR (3Y)

56.6%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.57

59th pctl of 33 SIC 7372 peers (best = lowest)

Current ratio

1.93×

51st pctl of 38 SIC 7372 peers

Quick ratio

0.74×

Net cash

$321.09M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$280.68M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

3.11

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

4.1%

Stock-based comp intensity.

Piotroski F-Score

F-Score

6 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20202025
Hypergrowth