Pangaea Logistics Solutions Ltd. (PANL) vs Safe Bulkers, Inc (SB)

Pangaea Logistics Solutions Ltd. and Safe Bulkers, Inc are both Marine Shipping companies. Safe Bulkers, Inc is the larger, with a market value of $939.1M against $533.6M — 1.8× the size. Safe Bulkers, Inc trades at the lower P/E: 10.4× against 10.7×. Pangaea Logistics Solutions Ltd. grew revenue faster over the last twelve months: 22.5% against 10.8%. Safe Bulkers, Inc has the higher net margin (25.7% vs 6.76%) and the lower return on invested capital (5.56% vs 5.92%). Both pay a dividend; Safe Bulkers, Inc yields more (4.85% vs 4.71%). Across the 22 metrics below, Pangaea Logistics Solutions Ltd. leads on 13 and Safe Bulkers, Inc on 9.

Valuation

Metric PANL SB Marine Shipping median
P/E 10.68 10.42 6.89
P/S 0.73 2.69 1.92
P/B 1.04 1.00 0.90
Price to free cash flow 5.92 n/m 4.62
EV/EBITDA 6.34 10.85 6.57
EV/Sales 1.01 3.92 2.73
Earnings yield 9.36% 9.59% 9.59%
Free cash flow yield 16.89% (5.41%) 16.76%

Profitability

Metric PANL SB Marine Shipping median
Gross margin 35.61% 63.42% 60.61%
Operating margin 9.32% 36.11% 27.74%
Net margin 6.76% 25.69% 25.21%
Free cash flow margin 12.26% (14.56%) 17.29%
Return on equity 10.07% 0.00% 8.62%
Return on assets 5.13% 5.57% 5.35%
Return on invested capital 5.92% 5.56% 5.32%

Growth

Metric PANL SB Marine Shipping median
Revenue growth (TTM) 22.50% 10.81% 13.26%
EPS growth (last fiscal year) (52.38%) (63.86%) —
Revenue growth, 5-year CAGR 10.54% 6.83% 11.77%
Net income growth, 5-year CAGR 11.28% 0.00% 0.00%

Health

Metric PANL SB Marine Shipping median
Debt to equity 0.63 0.59 0.52
Current ratio 1.38 1.00 1.63
Net debt to EBITDA 2.83 2.88 2.34

Dividend

Metric PANL SB Marine Shipping median
Dividend yield 4.71% 4.85% 5.54%
Payout ratio 0.42 0.21 0.13

Size

Metric PANL SB Marine Shipping median
Market cap 533.61m 939.13m 420.73m

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