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%
Market cap
$515.3M
P/E
10.1×
Fwd P/E
5.7×
Dividend yield
3.29%
F-score
6/9
Altman Z
1.78
Beneish M
−2.49
Dividend safety
31/100

Insider Decisions trades per month

Total sells 1.14
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — 2 — 1 — — — — —
Insider Ownership 51.40%

Capital & Financial Ratios $m

Market Cap 515.28
Revenue 710.25
Net Income 49.41
Free Cash Flow 87.10
Net Debt 204.29
Current Ratio 1.38
Debt/Equity 0.63
P/E ratio 10.13
Fwd P/E 5.72
P/S ratio 0.69
P/B ratio 0.99
Past 5Y EPS Growth 2.90%
This Y EPS Growth 351.33% (at or above 15%: strong)
Next Y EPS Growth (33.01%) (below 0%: weak)
Next Y revenue growth 17.94% (at or above 10%: strong)
Next 5Y EPS Growth 21.99% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 53.59%
10-year low 10-year high
P/S against its own 10 years 89.75%
10-year low 10-year high
P/B against its own 10 years 94.03%
10-year low 10-year high
EV/Sales against its own 10 years 80.50%
10-year low 10-year high
EV/FCF against its own 10 years 22.57%
10-year low 10-year high

Dividends

Payout Ratio 0.33
Annual Dividend Rate 0.25
Annual Dividend Yield 3.29%
total individual payouts
2027 Powerpack
2026 0.60
0.05
0.05
0.10
2025 0.20
0.10
0.05
0.05
0.05
2024 0.40
0.10
0.10
0.10
0.10
2023 0.40
0.10
0.10
0.10
0.10
2022 0.30
0.05
0.08
0.08
0.10
2021 0.13
0.02
0.04
0.04
0.04
2020 Powerpack
2019 0.11
0.04
0.04
0.04
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 99 87 103 106
Receivables 48 42 56 59
Inventory 17 33 28 51
Other 28 30 28 50
192 192 216 266
2023 2024 2025 Q'26
Payables 34 47 54 83
ST’ Debt 32 18 18 40
Other — — — —
105 109 128 192

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%

Revenue $m

Mar Jun Sep Dec Year
’26 171 187 — — —
’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 — — —
’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 — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 0.21 0.16 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 1.89 2.14 2.13 2.71 1.60 2.66 3.60 5.06 4.82 3.93

Analyst estimates 2026–2028

Powerpack
High 4.44 8.40 3.90 4.35 3.51 6.20 7.05 8.30 9.53 7.42
People
People Employees 62 74 74 70 70 70 70 151 170 170
Revenue/emp, $m 3.84 5.22 5.04 5.89 5.47 10.26 10.00 3.31 3.16 3.72
Income, $m
Income, $m Revenue 238 386 373 412 383 718 700 499 537 632
Gross margin, % 29.69 23.97 29.73 27.60 24.35 22.77 30.77 32.21 31.37 34.59
EBT 9 9 24 17 13 72 86 29 32 20
EBT margin, % 3.85 2.36 6.43 4.14 3.31 10.08 12.22 5.72 5.92 3.19
Net income 9 9 24 17 13 72 86 29 32 20
Depreciation 15 16 18 19 18 24 31 31 32 44
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
Earnings 0.21 0.20 0.42 0.27 0.26 1.53 1.79 0.59 0.64 0.30
Cash flow 0.55 0.76 0.95 1.04 0.48 1.40 3.04 1.20 1.45 0.84
Capex (0.29) (1.66) (0.41) (1.09) 0.20 (4.47) (0.63) (0.22) (1.53) 0.17
Free cash flow 0.25 (0.90) 0.54 (0.05) 0.68 (3.07) 2.41 0.98 (0.08) 1.01
Book value 5.03 5.48 5.52 5.69 5.40 6.83 8.30 8.27 10.46 7.44
Shares, m 35 38 42 43 43 44 44 45 45 64
Valuation, ×
Valuation, × P/E 15.85 17.74 7.05 10.93 11.08 2.49 3.04 13.44 8.51 22.19
P/S 0.47 0.34 0.34 0.31 0.31 0.23 0.34 0.71 0.45 0.69
P/B 0.63 0.61 0.55 0.52 0.51 0.55 0.65 0.96 0.51 0.92
EV/Sales 0.98 0.68 0.64 0.58 0.59 0.56 0.56 1.00 0.98 1.07
EV/FCF 25.94 (7.64) 10.54 (111.51) 7.59 (2.98) 3.70 11.42 (140.85) 10.52
Cash, $m
Cash, $m Operating cash flow 19 29 40 44 21 62 135 54 66 54
Capex (10) (64) (18) (47) 9 (197) (28) (10) (69) 11
Free cash flow 9 (34) 23 (2) 30 (135) 107 44 (4) 64
Balance, $m
Balance, $m Working capital (15) 13 34 37 1 72 130 86 83 88
Total debt 143 169 164 164 153 292 283 244 370 343
Net debt 121 134 110 113 104 236 155 145 284 240
Shareholders’ equity 177 211 233 243 234 301 369 370 475 475
Returns, %
Returns, % ROA 2.05 1.99 4.05 2.50 2.44 11.62 10.92 3.62 3.52 2.08
ROIC 2.71 2.91 6.56 4.08 3.63 9.18 12.60 5.41 3.99 3.58
ROE 4.36 4.03 8.00 4.89 4.75 25.13 23.75 7.12 6.84 4.08
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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 $912.9M 10.1× 8.6× +33.04% (above 0%: growing) n/m −35.33% (below 0%: shrinking) 65.78% 45.75% Compare
ASC Ardmore Shipping Corporation $775.4M 7.3× 5.1× +61.31% (above 0%: growing) +572.73% (above 0%: growing) +8,990.87% (above 0%: growing) 57.14% 42.84% Compare
HSHP Himalaya Shipping Ltd. $766.0M 14.2× 8.8× +79.60% (above 0%: growing) +2,500.00% (above 0%: growing) +312.05% (above 0%: growing) 85.47% 68.34% Compare
PANL Pangaea Logistics Solutions Ltd. $515.3M 10.1× 5.7× +19.42% (above 0%: growing) n/m +114.13% (above 0%: growing) 36.85% 11.41%
CMDB Costamare Bulkers Holdings Limited $473.2M 11.7× — — — −166.66% (below 0%: shrinking) 37.19% 6.44% Compare
ESEA Euroseas Ltd. $443.5M 3.4× 3.9× −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 $340.0M 5.3× 6.0× +48.58% (above 0%: growing) +764.29% (above 0%: growing) +144.12% (above 0%: growing) 75.84% 54.72% Compare
GASS StealthGas, Inc. $322.1M 5.4× 5.8× −9.16% (below 0%: shrinking) −16.36% (below 0%: shrinking) −4.48% (below 0%: shrinking) 52.20% 31.55% Compare
DSX Diana Shipping inc. $318.5M 5.1× 3.9× +4.75% (above 0%: growing) +466.67% (above 0%: growing) +1.73% (above 0%: growing) 57.47% 21.13% Compare
Median of peers $458.3M 6.3× 5.8× +33.04% +519.70% −1.37% 61.63% 44.30%

All 38 Marine Shipping stocks →

Pangaea Logistics Solutions Ltd. (PANL) key facts

  • Concern: Net income was $20.2 million, or $0.30 per share (basic), a net margin of 3.06%.
  • Strength: Pangaea Logistics Solutions Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $632.0 million, up 17.8% from fiscal 2024.
  • Pangaea Logistics Solutions Ltd. (PANL) is a Marine Shipping company in the Industrials sector, listed on Nasdaq.
  • As of October 16, 2026, PANL traded at $7.60, a market capitalization of $515.3 million.
  • At that price the stock trades at 10.1× trailing-twelve-month earnings and 0.7× sales; its P/E is higher than 54% of its own readings over the past ten years.
  • Pangaea Logistics Solutions Ltd. pays an annual dividend of $0.25 per share, a yield of 3.29%, with a payout ratio of 33.3%.
  • Return on equity was 4.08% and debt-to-equity 0.63.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 1.78 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Pangaea Logistics Solutions Ltd. (PANL) Latest News

25 Sep

stockrow.com/PANL · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com