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Pangaea Logistics Solutions Ltd.

PANL Industrials Marine Shipping

Pangaea Logistics Solutions Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $632.0 million, up 17.8% from fiscal 2024.

Revenue
+29.9%
EPS
+210.5%
Free cash flow
+76.3%
Total debt
−10.8%

Quarter to September 2026, against a year earlier

7.56 0.19 +2.58%
Market cap
$482.5M
P/E
6.6×
Fwd P/E
9.1×
Dividend yield
3.31%
F-score
6/9
Altman Z
1.78
Beneish M
−2.49
Dividend safety
31/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 1.14
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 2 — 1 — — — — — —
Insider Ownership 51.40%

Capital & Financial Ratios $m

Size
Market Cap 482.54
Revenue ttm 760.64
Net income ttm 75.98
Free cash flow ttm 98.27
Net debt Q (144.92)
Valuation
P/E 6.57
Forward P/E 9.05
Price / sales 0.64
Forward P/S Powerpack
Price / FCF 4.20
Price / book 0.92
Financial health
Current ratio Q 1.52 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 3.73
Growth
Revenue growth Q +29.87% (above 0%: growing)
Operating income growth Q +157.66% (above 0%: growing)
EPS, this year +351.33% (at or above 15%: strong)
EPS, next year A −33.01% (below 0%: weak)
Revenue, next year A +17.94% (at or above 10%: strong)
EPS, past 5 yrs +2.90%
EPS, next 5 yrs A +21.99% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.9×, against a ten-year median of 0.7×; over the ten years it ranged from 0.5× in 2022 to 1.3× in 2026.
P/E against its own 10 years 26.77%
10-year low 10-year high
P/S against its own 10 years 86.40%
10-year low 10-year high
P/B against its own 10 years 88.27%
10-year low 10-year high
EV/Sales against its own 10 years 59.75%
10-year low 10-year high
EV/FCF against its own 10 years 16.61%
10-year low 10-year high

Dividends

Yield
3.31%
Annual rate
0.25
Payout ratio
21.7%
Growth, 2019–25
+15.6%/yr
  1. 0.11 ’19
  2. 0.00 ’20 −100
  3. 0.13 ’21
  4. 0.30 ’22 +140
  5. 0.40 ’23 +33
  6. 0.40 ’24 +0
  7. 0.25 ’25 −38
  8. 0.60 ’26e +140
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 99 87 103 145
Receivables 48 42 56 64
Inventory 17 33 28 59
Other 28 30 28 43
192 192 216 310
2023 2024 2025 Q'26
Payables 34 47 54 46
ST’ Debt 32 18 18 —
Other — — — —
105 109 128 204

Compound Annual Growth %

10y 5y 3y
Sales 8.20% 10.54% (3.33%)
Cash Flow 7.52% 20.86% (26.41%)
Earnings 5.56% 11.28% (37.54%)
Book Value 11.13% 15.16% 8.79%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.24 Actual 0.26

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.03 0.17 Beat by 0.14
Q4 FY25 0.18 0.16 Miss by 0.02
Q1 FY26 0.05 0.11 Beat by 0.06
Q2 FY26 0.24 0.26 Beat by 0.02
Q3 FY26 0.31 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.21 0.16 0.59 — —
’25 (0.03) (0.04) 0.19 0.19 0.30
’24 0.25 0.08 0.11 0.18 0.63
’23 0.08 0.06 0.42 0.03 0.58
’22 0.45 0.56 0.42 0.34 1.76
’21 0.13 0.43 0.60 0.34 1.50
’20 (0.16) 0.07 0.17 0.17 0.26
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 171 187 219 — —
’25 123 157 169 184 632
’24 105 131 153 147 537
’23 114 118 136 132 499
’22 192 196 184 128 700
’21 125 146 213 235 718
’20 96 70 104 113 383
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 4 21 57 — —
’25 (4) 14 29 15 54
’24 9 9 28 19 66
’23 12 2 16 24 54
’22 32 37 33 33 135
’21 5 15 23 19 62
’20 (7) 14 16 (2) 21
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 3 28 57 — —
’25 (5) 13 32 23 64
’24 9 0 (20) 8 (4)
’23 20 (25) 15 33 44
’22 14 45 31 16 107
’21 (1) (89) (28) (18) (135)
’20 1 12 19 (2) 30
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 238 386 373 412 383 718 700 499 537 632 761 +11.5% 745 742 — +8.4%
Gross margin, % 29.69 23.97 29.73 27.60 24.35 22.77 30.77 32.21 31.37 34.59 0.00 +4.9 pt
EBT 9 9 24 17 13 72 86 29 32 20 76 +9.2%
EBT margin, % 3.85 2.36 6.43 4.14 3.31 10.08 12.22 5.72 5.92 3.19 9.99 (0.7) pt
Net income 9 9 24 17 13 72 86 29 32 20 76 +9.2%
Per share, $
Per share, $ Revenue 6.77 10.05 8.83 9.64 8.82 16.32 15.76 11.15 11.82 9.91 11.81 +4.3%
Earnings 0.21 0.20 0.42 0.27 0.26 1.53 1.79 0.59 0.64 0.30 1.15 +4.0%
Cash flow 0.55 0.76 0.95 1.04 0.48 1.40 3.04 1.20 1.45 0.84 1.53 +4.9%
Capex (0.29) (1.66) (0.41) (1.09) 0.20 (4.47) (0.63) (0.22) (1.53) 0.17 0.00 n/m
Free cash flow 0.25 (0.90) 0.54 (0.05) 0.68 (3.07) 2.41 0.98 (0.08) 1.01 1.53 +16.5%
Book value 5.03 5.48 5.52 5.69 5.40 6.83 8.30 8.27 10.46 7.44 8.20 +4.5%
Shares, m 35 38 42 43 43 44 44 45 45 64 64 +6.8%
Valuation, ×
Valuation, × P/E 15.85 17.74 7.05 10.93 11.08 2.49 3.04 13.44 8.51 22.19 6.57 11.2
P/S 0.47 0.34 0.34 0.31 0.31 0.23 0.34 0.71 0.45 0.69 0.64 0.4
P/B 0.63 0.61 0.55 0.52 0.51 0.55 0.65 0.96 0.51 0.92 0.92 0.6
EV/Sales 0.98 0.68 0.64 0.58 0.59 0.56 0.56 1.00 0.98 1.07 0.86 0.8
EV/FCF 25.94 (7.64) 10.54 (111.51) 7.59 (2.98) 3.70 11.42 (140.85) 10.52 5.63 (19.3)
Cash, $m
Cash, $m Operating cash flow 19 29 40 44 21 62 135 54 66 54 98 +12.1%
Capex (10) (64) (18) (47) 9 (197) (28) (10) (69) 11 18 n/m
Free cash flow 9 (34) 23 (2) 30 (135) 107 44 (4) 64 98 +24.5%
Balance, $m
Balance, $m Working capital (15) 13 34 37 1 72 130 86 83 88 107 n/m
Net debt 121 134 110 113 104 236 155 145 284 240 (145) +7.9%
Shareholders’ equity 177 211 233 243 234 301 369 370 475 475 528 +11.6%
Returns, %
Returns, % ROA 2.05 1.99 4.05 2.50 2.44 11.62 10.92 3.62 3.52 2.08 0.00 0.0 pt
ROIC 2.71 2.91 6.56 4.08 3.63 9.18 12.60 5.41 3.99 3.58 15.14 +0.9 pt
ROE 4.36 4.03 8.00 4.89 4.75 25.13 23.75 7.12 6.84 4.08 0.00 (0.3) pt
People
People Employees 62 74 74 70 70 70 70 151 170 170 — +11.9%
Revenue/emp, $m 3.84 5.22 5.04 5.89 5.47 10.26 10.00 3.31 3.16 3.72 — (0.4%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Pangaea Logistics Solutions Ltd. vs peers in Marine Shipping (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SB Safe Bulkers, Inc $803.7M 9.1× 7.1× +33.04% (above 0%: growing) n/m −35.33% (below 0%: shrinking) 65.78% 45.75% Compare
HSHP Himalaya Shipping Ltd. $704.7M 13.6× 8.8× +79.60% (above 0%: growing) +2,500.00% (above 0%: growing) +312.05% (above 0%: growing) 85.47% 68.34% Compare
ASC Ardmore Shipping Corporation $698.2M 6.5× 4.7× +7.96% (above 0%: growing) +33.40% (above 0%: growing) +103.64% (above 0%: growing) 38.73% 19.69% Compare
PANL Pangaea Logistics Solutions Ltd. $482.5M 6.6× 9.1× +29.87% (above 0%: growing) +210.53% (above 0%: growing) +76.28% (above 0%: growing) 0.00% 19.90%
CMDB Costamare Bulkers Holdings Limited $432.3M 11.2× — — — −166.66% (below 0%: shrinking) 37.19% 6.44% Compare
ESEA Euroseas Ltd. $415.7M 3.2× 3.5× −1.28% (below 0%: shrinking) +10.42% (above 0%: growing) −70.14% (below 0%: shrinking) 78.65% 59.18% Compare
SHIP Seanergy Maritime Holdings Corp $300.1M 4.9× 4.7× +48.58% (above 0%: growing) +764.29% (above 0%: growing) +144.12% (above 0%: growing) 75.84% 54.72% Compare
GASS StealthGas, Inc. $296.1M 5.0× 4.9× −9.16% (below 0%: shrinking) −16.36% (below 0%: shrinking) −4.48% (below 0%: shrinking) 52.20% 31.55% Compare
DSX Diana Shipping inc. $288.6M 4.8× 3.1× +4.75% (above 0%: growing) +466.67% (above 0%: growing) +1.73% (above 0%: growing) 57.47% 21.13% Compare
Median of peers $424.0M 5.7× 4.7× +7.96% +250.03% −1.37% 61.63% 38.65%

All 38 Marine Shipping stocks →

Pay and ownership Proxy statement filed 27 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.24m 3.79m 156.00
2024 1.74m 2.74m 117.00
2023 1.48m 3.91m 168.00
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Pangaea Logistics Solutions Ltd. (PANL) Latest News

6 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · MarketBeat transcript
Impact 3 · · Moby

5 Nov

Impact 3 · · Zacks
Impact 3 · · StockStory
Impact 3 · · PR Newswire

12 Oct

Impact 4 · · StockStory

28 Sep

Impact 3 ·

25 Sep

Impact 3 · · StockStory

20 Aug

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19 Aug

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17 Aug

Impact 3 · · The Motley Fool transcript
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16 Aug

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13 Aug

Impact 4 ·

11 Aug

Impact 3 · · MarketBeat transcript
Impact 3 ·
Impact 3 · · Moby

10 Aug

Impact 3 ·
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10 Jun

Impact 4 · · GlobeNewswire

19 May

Impact 3 · · StockStory

15 May

Impact 4 · · StockStory

14 May

Impact 3 · · Simply Wall St.

13 May

Impact 3 · · StockStory

12 May

Impact 4 · · MarketBeat
Impact 4 · · Moby

11 May

Impact 4 · · StockStory
Impact 3 · · PR Newswire
stockrow.com/PANL · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com