PANL · Pangaea Logistics Solutions Ltd. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $170.58M | - | $168.67M | $156.69M | $122.80M | - | $153.12M | $131.50M | $104.75M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $10.03M | - | $6.04M | $7.17M | $7.27M | - | $6.04M | $5.03M | $7.28M | - |
| Total Operating Expenses | $160.11M | - | $151.75M | $153.04M | $119.88M | - | $138.11M | $123.88M | $93.72M | - |
| D&A | $11.88M | - | - | - | $9.92M | - | - | - | $7.44M | - |
| Operating Income | $10.47M | - | $16.92M | $3.65M | $2.93M | - | $15.00M | $7.61M | $11.03M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | $13.29M | - | $12.21M | ($2.74M) | ($1.98M) | - | $5.11M | $3.68M | $11.67M | - |
| EPS - Basic | $0.21 | - | $0.19 | ($0.04) | ($0.03) | - | $0.11 | $0.08 | $0.26 | - |
| EPS - Diluted | $0.21 | - | $0.19 | ($0.04) | ($0.03) | - | $0.11 | $0.08 | $0.25 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $89.74M | $103.05M | $94.02M | $59.25M | $63.95M | $86.81M | $93.12M | $77.95M | $95.87M | $99.04M |
| Accounts Receivable | $61.28M | $55.85M | $45.57M | $49.33M | $47.92M | $42.37M | $44.16M | $41.33M | $42.00M | $47.89M |
| Inventory | $40.26M | $28.39M | $36.14M | $38.58M | $36.03M | $32.85M | $26.74M | $28.89M | $22.15M | $16.56M |
| Accounts Payable | - | $14.33M | - | - | - | $14.82M | - | - | - | $6.28M |
| Current Assets | $250.79M | $215.78M | $212.62M | $184.01M | $175.90M | $191.99M | $196.24M | $181.35M | $195.56M | $191.83M |
| Total Assets | $950.70M | $928.10M | $932.15M | $916.00M | $917.99M | $936.46M | $749.17M | $692.92M | $703.31M | $705.18M |
| Current Liabilities | $153.59M | $128.03M | $130.93M | $126.01M | $109.00M | $109.11M | $95.91M | $83.97M | $99.34M | $105.33M |
| Long-term Debt | - | $97.16M | - | - | - | $129.30M | $117.01M | $78.47M | $68.45M | - |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $441.06M | $429.33M | $420.26M | $414.35M | $420.80M | $427.82M | $332.59M | $331.53M | $332.00M | $323.89M |
| Retained Earnings | $182.28M | $172.25M | $163.59M | $154.61M | $160.60M | $169.16M | $165.42M | $165.00M | $166.01M | $159.03M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.49M | - | - | - | ($4.36M) | - | - | - | $9.00M | - |
| Investing Cash Flow | ($1.31M) | - | - | - | ($460.3K) | - | - | - | ($203.6K) | - |
| Financing Cash Flow | ($16.49M) | - | - | - | ($18.04M) | - | - | - | ($11.96M) | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 6.1% | - | 10.0% | 2.3% | 2.4% | - | 9.8% | 5.8% | 10.5% | - |
| EBITDA margin | 13.1% | - | - | - | 10.5% | - | - | - | 17.6% | - |
| Net margin | 7.8% | - | 7.2% | -1.8% | -1.6% | - | 3.3% | 2.8% | 11.1% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 5.9% | - | 3.6% | 4.6% | 5.9% | - | 3.9% | 3.8% | 6.9% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | 1.4% | - | 1.3% | -0.3% | -0.2% | - | 0.7% | 0.5% | 1.7% | - |
| Return on equity | 3.0% | - | 2.9% | -0.7% | -0.5% | - | 1.5% | 1.1% | 3.5% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.63 | 1.69 | 1.62 | 1.46 | 1.61 | 1.76 | 2.05 | 2.16 | 1.97 | 1.82 |
| Quick ratio | 1.37 | 1.46 | 1.35 | 1.15 | 1.28 | 1.46 | 1.77 | 1.82 | 1.75 | 1.66 |
| Cash ratio | 0.58 | 0.80 | 0.72 | 0.47 | 0.59 | 0.80 | 0.97 | 0.93 | 0.97 | 0.94 |
| Leverage | ||||||||||
| Debt / Equity | - | 0.23 | - | - | - | 0.30 | 0.35 | 0.24 | 0.21 | - |
| Debt / Assets | - | 0.10 | - | - | - | 0.14 | 0.16 | 0.11 | 0.10 | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | 3.71 | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.16 | 2.16 | 2.22 | 2.21 | 2.18 | 2.19 | 2.25 | 2.09 | 2.12 | 2.18 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.18 | - | 0.18 | 0.17 | 0.13 | - | 0.20 | 0.19 | 0.15 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 131d | - | 99d | 115d | 142d | - | 105d | 115d | 146d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 33.7x | - | 26.7x | - | - | - | 65.7x | 97.9x | 27.9x | - |
| P / B | 1.0x | - | 0.8x | 0.7x | 0.7x | - | 1.0x | 1.1x | 1.0x | - |
| P / S | 2.7x | - | 2.0x | 1.9x | 2.5x | - | 2.2x | 2.7x | 3.1x | - |
| EV / EBITDA | 16.5x | - | - | - | 18.7x | - | - | - | 15.8x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 38.9% | - | 10.2% | 19.2% | 17.2% | - | 12.9% | 11.4% | -7.9% | - |
| Revenue CAGR (3y) | 14.5% | - | -2.9% | -7.1% | -13.8% | - | -10.4% | -3.3% | -5.7% | - |
| Revenue CAGR (5y) | 6.4% | - | 10.2% | 17.4% | 5.1% | - | 9.9% | 6.3% | 5.7% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 257.6% | - | 12.8% | -52.0% | -73.5% | - | -23.9% | -3.1% | 69.8% | - |
| Net income growth (YoY) | - | - | 138.9% | - | - | - | -72.9% | 29.5% | 236.0% | - |
| EPS growth (YoY) | - | - | 72.7% | - | - | - | -73.8% | 33.3% | 212.5% | - |
| EPS CAGR (3y) | 37.9% | - | -23.2% | - | - | - | -43.2% | -42.9% | 24.4% | - |
| EPS CAGR (5y) | 10.1% | - | 2.2% | - | - | - | -10.4% | -2.3% | 22.7% | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 4.8% | 0.4% | 26.4% | 25.0% | 26.7% | 32.1% | 1.8% | 6.2% | 5.8% | 3.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$616.81M totalSeaborne Dry Bulk Logistics And Transportation Services Segment$616.81M · 100.0%
Product / service
$632.04M totalVoyage$577.55M · 91.4%
Charter$39.26M · 6.2%
Terminal Stevedore Revenue$15.24M · 2.4%
Geographic
$632.13M totalOther$222.85M · 35.3%
US$177.65M · 28.1%
CA$65.03M · 10.3%
Country_Germany Domain$59.43M · 9.4%
Country_Singapore Domain$59.17M · 9.4%
GB$48.01M · 7.6%
Peer comparison
Same SIC group: Deep Sea Foreign Transportation of Freight
Comparing Pangaea Logistics Solutions Ltd. against the 5 most active filers in the same SIC group.
Dividends
$0.20/share trailing 12 months · -42.9% YoY
| Ex-date | Per share |
|---|---|
| Jun 1, 2026 | $0.0500 |
| Feb 27, 2026 | $0.0500 |
| Dec 1, 2025 | $0.0500 |
| Sep 2, 2025 | $0.0500 |
| Jun 2, 2025 | $0.0500 |
| Feb 28, 2025 | $0.1000 |
| Nov 29, 2024 | $0.1000 |
| Aug 30, 2024 | $0.1000 |
| May 30, 2024 | $0.1000 |
| Feb 29, 2024 | $0.1000 |
| Nov 30, 2023 | $0.1000 |
| Aug 31, 2023 | $0.1000 |
| May 31, 2023 | $0.1000 |
| Feb 28, 2023 | $0.1000 |
| Nov 30, 2022 | $0.1000 |
| Aug 31, 2022 | $0.0750 |
| May 31, 2022 | $0.0750 |
| Feb 28, 2022 | $0.0500 |
| Nov 30, 2021 | $0.0350 |
| Aug 31, 2021 | $0.0350 |
| May 28, 2021 | $0.0350 |
| Feb 26, 2021 | $0.0200 |
| Nov 20, 2019 | $0.0350 |
| Aug 23, 2019 | $0.0350 |