Pangaea Logistics Solutions Ltd. (PANL) vs SEACOR Marine Holdings Inc. (SMHI)

Pangaea Logistics Solutions Ltd. and SEACOR Marine Holdings Inc. are both Marine Shipping companies. Pangaea Logistics Solutions Ltd. is the larger, with a market value of $515.3M against $218.7M — 2.4× the size. SEACOR Marine Holdings Inc. has negative trailing earnings, so its P/E is not meaningful; Pangaea Logistics Solutions Ltd. trades at 10.1×. Pangaea Logistics Solutions Ltd. grew revenue faster over the last twelve months: 22.5% against −17.5%. Pangaea Logistics Solutions Ltd. has the higher net margin (6.76% vs −8.62%) and the higher return on invested capital (5.92% vs 2.93%). Across the 21 metrics below, Pangaea Logistics Solutions Ltd. leads on 14 and SEACOR Marine Holdings Inc. on 7.

Valuation

Metric PANL SMHI Marine Shipping median
P/E 10.13 n/m 8.37
P/S 0.69 1.02 1.87
P/B 0.99 0.85 0.86
Price to free cash flow 5.62 3.28 4.66
EV/EBITDA 6.11 6.60 6.48
EV/Sales 0.98 2.10 2.70
Earnings yield 9.87% (8.53%) 10.65%
Free cash flow yield 17.80% 30.46% 17.95%

Profitability

Metric PANL SMHI Marine Shipping median
Gross margin 35.61% 17.03% 60.61%
Operating margin 9.32% 10.69% 27.74%
Net margin 6.76% (8.62%) 25.21%
Free cash flow margin 12.26% 30.99% 16.32%
Return on equity 10.07% (6.98%) 8.62%
Return on assets 5.13% (2.76%) 5.35%
Return on invested capital 5.92% 2.93% 5.32%

Growth

Metric PANL SMHI Marine Shipping median
Revenue growth (TTM) 22.50% (17.49%) 13.26%
EPS growth (last fiscal year) (52.38%) 62.41% (16.82%)
Revenue growth, 5-year CAGR 10.54% 9.94% 11.77%
Net income growth, 5-year CAGR 11.28% 0.00% 0.00%

Health

Metric PANL SMHI Marine Shipping median
Debt to equity 0.63 1.27 0.52
Current ratio 1.38 2.38 1.63
Net debt to EBITDA 2.83 3.90 2.34

Dividend

Metric PANL SMHI Marine Shipping median
Dividend yield 3.29% — 4.68%
Payout ratio 0.33 — 0.31

Size

Metric PANL SMHI Marine Shipping median
Market cap 515.28m 218.69m 391.73m

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