Saturday 17 October 2026 Export PANL’s income statement to Excel — free account

Pangaea Logistics Solutions Ltd.

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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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

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

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%

Next Y EPS Growth (33.01%)

Next Y revenue growth 17.94%

Next 5Y EPS Growth 21.99%

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

Valuation vs history

EV/Sales, ten years

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
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

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.