Saturday 17 October 2026
Export PANL’s income statement to Excel — free account
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. In the quarter to June 2026, revenue grew 19.4%, EPS grew 500.0%, free cash flow grew 114.1% and total debt fell 10.8%, each against the same quarter a year earlier.
7.60
0.27
−3.43%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
22.19 | 8.51 | 13.44 | 3.04 | 2.49 | 11.08 | 10.93 | 7.05 | 17.74 | 15.85 |
Piotroski F-Score |
6 | 3 | 5 | 6 | 5 | 4 | 5 | 7 | 5 | 4 |
P/S ratio |
0.69 | 0.45 | 0.71 | 0.34 | 0.23 | 0.31 | 0.31 | 0.34 | 0.34 | 0.47 |
Altman Z-Score |
1.78 | 1.42 | 2.04 | 2.25 | 1.92 | 1.40 | 1.47 | 1.54 | 1.44 | 1.04 |
Altman Z″-Score (non-manufacturers) |
2.62 | 2.60 | 3.13 | 3.77 | 2.59 | 1.61 | 2.00 | 2.19 | 1.42 | 0.80 |
P/FCF ratio |
6.81 | 0.00 | 8.11 | 2.25 | 0.00 | 4.07 | 0.00 | 5.66 | 0.00 | 12.44 |
Beneish M-Score |
(2.49) | (2.83) | (2.31) | (3.26) | (1.77) | (2.45) | (2.64) | (2.20) | (2.07) | (2.93) |
P/Operating CF |
29.02 | 12.62 | 14.85 | 7.29 | 8.72 | (74.90) | 5.99 | 9.92 | 8.36 | 124.34 |
Dividend Safety Score |
31 | — | — | — | — | — | — | — | — | — |
P/B ratio |
0.92 | 0.51 | 0.96 | 0.65 | 0.55 | 0.51 | 0.52 | 0.55 | 0.61 | 0.63 |
Price to Tangible BV |
0.93 | 0.52 | 0.97 | 0.65 | 0.55 | 0.51 | 0.52 | 0.55 | 0.61 | 0.63 |
EV/Sales |
1.07 | 0.98 | 1.00 | 0.56 | 0.56 | 0.59 | 0.58 | 0.64 | 0.68 | 0.98 |
EV/EBITDA |
8.01 | 6.59 | 6.60 | 2.90 | 3.91 | 5.98 | 5.61 | 4.37 | 8.12 | 8.40 |
EV/Operating CF |
12.62 | 8.02 | 9.30 | 2.93 | 6.52 | 10.78 | 5.38 | 5.94 | 9.02 | 12.09 |
EV/FCF |
10.52 | (140.85) | 11.42 | 3.70 | (2.98) | 7.59 | (111.51) | 10.54 | (7.64) | 25.94 |
Quick Ratio |
1.24 | 1.18 | 1.39 | 1.79 | 0.99 | 0.70 | 0.88 | 1.04 | 0.79 | 0.49 |
Current Ratio |
1.69 | 1.76 | 1.82 | 2.41 | 1.65 | 1.00 | 1.41 | 1.44 | 1.19 | 0.80 |
Net Debt/EBITDA |
2.83 | 3.55 | 1.91 | 1.14 | 2.30 | 2.78 | 2.65 | 2.03 | 4.13 | 4.37 |
Debt/Assets |
36.96% | 39.56% | 34.59% | 37.84% | 41.37% | 33.89% | 34.27% | 36.18% | 39.83% | 39.55% |
Debt/Equity |
0.72 | 0.78 | 0.66 | 0.77 | 0.97 | 0.65 | 0.68 | 0.70 | 0.80 | 0.81 |
Asset Turnover |
0.68 | 0.65 | 0.69 | 0.96 | 1.24 | 0.82 | 0.88 | 0.85 | 0.98 | 0.65 |
Operating CF/Net income |
2.77 | 2.27 | 2.04 | 1.70 | 0.92 | 1.84 | 3.81 | 2.26 | 3.74 | 2.58 |
Capex/Depreciation |
0.24 | (2.20) | (0.32) | (0.91) | (8.19) | 0.49 | (2.41) | (0.95) | (3.88) | (0.69) |
Interest Coverage |
1.71 | 2.84 | 2.62 | 6.72 | 7.64 | 2.52 | 2.51 | 4.05 | 1.94 | 2.25 |
| 4.08% | 6.84% | 7.12% | 23.75% | 25.13% | 4.75% | 4.89% | 8.00% | 4.03% | 4.36% | |
| 2.08% | 3.52% | 3.62% | 10.92% | 11.62% | 2.44% | 2.50% | 4.05% | 1.99% | 2.05% | |
ROIC |
3.58% | 3.99% | 5.41% | 12.60% | 9.18% | 3.63% | 4.08% | 6.56% | 2.91% | 2.71% |
Return on Tangible Assets |
2.53% | 3.66% | 4.69% | 13.10% | 12.35% | 4.09% | 3.66% | 5.61% | 2.45% | 2.87% |
Average Days of Receivables |
32.26 | 28.82 | 35.01 | 19.17 | 27.58 | 27.79 | 25.07 | 27.87 | 19.94 | 24.52 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
4.92% | 4.59% | 4.56% | 2.87% | 2.64% | 4.16% | 4.22% | 4.42% | 3.93% | 5.37% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.65% | 0.52% | 0.42% | 0.25% | 0.29% | 0.60% | 0.42% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
(0.54) | (1.11) | (0.40) | (0.65) | (1.34) | (0.87) | (0.86) | (0.83) | (1.00) | (1.10) |
Graham Number |
7.20 | 12.17 | 10.48 | 18.24 | 15.29 | 5.51 | 5.88 | 7.31 | 4.84 | 4.76 |
Earnings Yield |
4.51% | 11.75% | 7.44% | 32.90% | 40.21% | 9.03% | 9.15% | 14.19% | 5.64% | 6.31% |
Free Cash Flow Yield |
14.68% | (1.54%) | 12.33% | 44.47% | (81.12%) | 24.59% | (1.70%) | 17.67% | (26.65%) | 8.04% |
Revenue per Share |
9.91 | 11.82 | 11.15 | 15.76 | 16.32 | 8.82 | 9.64 | 8.83 | 10.05 | 6.77 |
Operating CF per Share |
0.84 | 1.45 | 1.20 | 3.04 | 1.40 | 0.48 | 1.04 | 0.95 | 0.76 | 0.55 |
Capex per Share |
0.17 | (1.53) | (0.22) | (0.63) | (4.47) | 0.20 | (1.09) | (0.41) | (1.66) | (0.29) |
Free Cash Flow per Share |
1.01 | (0.08) | 0.98 | 2.41 | (3.07) | 0.68 | (0.05) | 0.54 | (0.90) | 0.25 |
Cash per Share |
1.62 | 1.91 | 2.21 | 2.89 | 1.28 | 1.11 | 1.21 | 1.27 | 0.90 | 0.63 |
Shareholders Equity per Share |
7.44 | 10.46 | 8.27 | 8.30 | 6.83 | 5.40 | 5.69 | 5.52 | 5.48 | 5.03 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
7.44 | 10.46 | 8.27 | 8.30 | 6.83 | 5.40 | 5.69 | 5.52 | 5.48 | 5.03 |
Free Cash Flow |
64.44 | (3.74) | 43.79 | 106.81 | (134.91) | 29.58 | (2.14) | 22.63 | (34.50) | 8.96 |
Working Capital |
87.74 | 82.89 | 86.49 | 130.30 | 72.22 | 0.53 | 37.10 | 34.46 | 13.00 | (15.43) |
Capital Expenditures |
10.71 | (69.43) | (9.99) | (27.99) | (196.65) | 8.74 | (46.60) | (17.51) | (63.72) | (10.25) |
Net Current Asset Value |
(237.58) | (269.80) | (143.16) | (157.01) | (222.38) | (104.63) | (108.88) | (106.60) | (129.63) | (123.07) |
EV/EBIT |
16.56 | 10.88 | 11.21 | 3.74 | 5.10 | 11.40 | 10.28 | 6.61 | 16.44 | 18.02 |
Capex to Sales |
(0.02) | 0.13 | 0.02 | 0.04 | 0.27 | (0.02) | 0.11 | 0.05 | 0.17 | 0.04 |
Price to Operating Income |
10.72 | 5.02 | 7.96 | 2.28 | 2.11 | 6.11 | 5.42 | 3.55 | 8.08 | 8.65 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.06 | 0.04 | 0.07 | 0.06 | 0.05 | 0.06 | 0.07 | 0.07 | 0.05 | 0.05 |
Cash ROIC |
7.00% | (0.40%) | 6.14% | 13.69% | (20.78%) | 6.79% | (0.47%) | 5.02% | (8.34%) | 2.62% |
Accounts Receivable Turnover |
12.87 | 11.89 | 11.80 | 15.38 | 17.22 | 13.33 | 14.52 | 15.05 | 20.82 | 13.37 |
Accounts Payable Turnover |
8.20 | 9.10 | 9.29 | 11.05 | 13.60 | 8.00 | 8.30 | 8.58 | 11.20 | 7.37 |
Inventory Turnover |
13.50 | 14.91 | 14.83 | 17.22 | 25.73 | 15.67 | 14.84 | 15.16 | 20.55 | 16.17 |
Average Days of Payables |
47.90 | 46.17 | 37.04 | 29.05 | 32.35 | 40.83 | 48.89 | 44.42 | 36.30 | 50.67 |
Days of Inventory on Hand |
25.06 | 32.56 | 17.85 | 21.93 | 17.87 | 20.12 | 25.69 | 26.77 | 19.10 | 28.80 |
Average Receivables |
49.11 | 45.13 | 42.32 | 45.51 | 41.71 | 28.73 | 28.40 | 24.79 | 18.54 | 17.80 |
Average Payables |
50.42 | 40.46 | 36.45 | 43.85 | 40.78 | 36.19 | 35.94 | 30.54 | 26.21 | 22.69 |
Average Inventory |
30.62 | 24.70 | 22.83 | 28.13 | 21.56 | 18.48 | 20.11 | 17.29 | 14.28 | 10.35 |
Average Assets |
932.28 | 820.82 | 726.71 | 727.63 | 578.71 | 465.15 | 466.69 | 438.39 | 392.75 | 364.58 |
Average Common Equity |
474.70 | 422.43 | 369.46 | 334.70 | 267.56 | 238.75 | 238.22 | 222.01 | 193.67 | 171.00 |
Columns are period end dates