Icon Energy Corp.
ICON Industrials Marine Shipping
In the quarter to June 2026, free cash flow grew 74.4% and total debt fell 6.53%, each against the same quarter a year earlier.
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Icon Energy Corp. (ICON) Piotroski F-score
Icon Energy Corp.'s Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, up from 2 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | 2.00 |
| FY2024 | 2 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (16.45%) | (5.70%) | Fail | 0 |
| Positive operating cash flow | 799.00k | 864.00k | Pass | 1 |
| Rising return on assets | (16.45%) | (5.70%) | Fail | 0 |
| Cash flow above net income | 7.97m | 2.05m | Pass | 1 |
| Falling long-term leverage | 0.74 | 0.66 | Fail | 0 |
| Rising current ratio | 1.10 | 0.39 | Pass | 1 |
| No new shares issued | 397,800 | 3,900 | Fail | 0 |
| Rising gross margin | 48.57% | 48.92% | Fail | 0 |
| Rising asset turnover | 0.26 | 0.25 | Pass | 1 |
| Piotroski F-score | Mixed | 4 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| NCT Intercont (Cayman) Limited compare | 8 |
| HTCO Caravelle International Group compare | 6 |
| CTRM Castor Maritime Inc. compare | 6 |
| ICON Icon Energy Corp. | 4 |
| USEA United Maritime Corporation compare | 4 |
| PSHG Performance Shipping Inc. compare | 3 |
| UFG Uni-Fuels Holdings Limited compare | 3 |
| VNTG Vantage Corp compare | 1 |
| RUBI Rubico Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover