Pangaea Logistics Solutions Ltd. (PANL) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PANL SEC filings page.
Pangaea Logistics Solutions Ltd. (PANL) reported $710.2M in revenue over the twelve months to Jun 30, 2026, up 22.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue recovered in FY2025, but profitability weakened while debt fell sharply, leaving a more lightly levered yet lower-return operation.
The recovery in revenue did not translate into operating leverage: revenue reached$632M , while operating margin fell from9.0% to6.5% . EBITDA still increased to$83.4M , but higher interest expense and depreciation helped reduce net income to$19.4M , showing that reported operating earnings are being absorbed before they reach shareholders.
Operating cash flow of
The balance sheet became materially less debt-dependent: long-term debt dropped from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Pangaea Logistics Solutions Ltd.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Pangaea Logistics Solutions Ltd. has an operating margin of 6.5%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 63/100, indicating healthy but not exceptional operating efficiency. This is down from 9.0% the prior year.
Pangaea Logistics Solutions Ltd.'s revenue surged 17.8% year-over-year to $632.0M, reflecting rapid business expansion. This strong growth earns a score of 71/100.
Pangaea Logistics Solutions Ltd. carries a low D/E ratio of 0.23, meaning only $0.23 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.
Pangaea Logistics Solutions Ltd.'s current ratio of 1.69 indicates adequate short-term liquidity, earning a score of 49/100. The company can meet its near-term obligations, though with limited headroom.
Not available for Pangaea Logistics Solutions Ltd., and counted as zero in the overall score.
Pangaea Logistics Solutions Ltd.'s ROE of 4.5% shows moderate profitability relative to equity, earning a score of 52/100. This is down from 6.8% the prior year.
Pangaea Logistics Solutions Ltd. scores 1.86, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Pangaea Logistics Solutions Ltd. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Pangaea Logistics Solutions Ltd. generates $2.77 in operating cash flow ($53.7M OCF vs $19.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Pangaea Logistics Solutions Ltd. earns $1.71 in operating income for every $1 of interest expense ($40.9M vs $24.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Pangaea Logistics Solutions Ltd. generated $187.1M in revenue in Q2 2026. This represents an increase of 19.4% from the same quarter a year earlier. Against the prior quarter it is up 9.7%.
Pangaea Logistics Solutions Ltd.'s EBITDA was $33.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 137.0% from the same quarter a year earlier. Against the prior quarter it is up 51.2%.
Pangaea Logistics Solutions Ltd. reported $10.2M in net income in Q2 2026. This represents an increase of 472.0% from the same quarter a year earlier. Against the prior quarter it is down 23.3%.
Pangaea Logistics Solutions Ltd. earned $0.16 per diluted share (EPS) in Q2 2026. This represents an increase of 500.0% from the same quarter a year earlier. Against the prior quarter it is down 23.8%.
Cash & Balance Sheet
Pangaea Logistics Solutions Ltd. held $105.7M in cash against $235.6M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Pangaea Logistics Solutions Ltd.'s operating margin was 11.4% in Q2 2026, reflecting core business profitability. This is up 9.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.3 percentage points.
Pangaea Logistics Solutions Ltd.'s net profit margin was 5.5% in Q2 2026, showing the share of revenue converted to profit. This is up 7.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.3 percentage points.
Pangaea Logistics Solutions Ltd.'s ROE was 2.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.7 percentage points.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
PANL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $187.1M+19.4% | $170.6M+38.9% | $183.9M+24.9% | $168.7M+10.2% | $156.7M+19.2% | $122.8M+17.2% | $147.2M+11.6% | $153.1M+12.9% |
| SG&A Expenses | $9.0M+25.0% | $10.0M+37.8% | $6.7M+11.6% | $9.9M+63.6% | $7.2M+42.6% | $7.3M-0.1% | $6.0M+6.0% | $6.0M+9.9% |
| Operating Income | $21.3M+484.2% | $10.5M+257.7% | $17.4M+17.8% | $16.9M+12.8% | $3.7M-52.0% | $2.9M-73.5% | $14.8M+39.7% | $15.0M-23.9% |
| EBITDA | $33.8M+137.0% | $22.3M+73.9% | $29.2M+29.3% | $27.1M+19.4% | $14.3M-5.4% | $12.8M-30.4% | $22.6M+24.7% | $22.7M-18.3% |
| Net Income | $10.2M+472.0% | $13.3M+771.1% | $11.9M+40.9% | $12.2M+138.9% | -$2.7M-174.5% | -$2.0M-117.0% | $8.4M+666.8% | $5.1M-73.0% |
| EPS (Basic) | $0.16+500.0% | $0.21+800.0% | $0.18-5.3% | $0.19+72.7% | -$0.04-150.0% | -$0.03-111.5% | $0.19+533.3% | $0.11-73.8% |
| EPS (Diluted) | $0.16+500.0% | $0.21+800.0% | $0.180.0% | $0.19+72.7% | -$0.04-150.0% | -$0.03-112.0% | $0.18+500.0% | $0.11-73.8% |
| Diluted Shares (Avg) | 65M+1.5% | 65M+1.4% | N/A | 65M+40.9% | 64M+39.1% | 64M+39.1% | N/A | 46M+2.1% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Interest Expense, Income Tax.
PANL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $956.7M+4.4% | $950.7M+3.6% | $928.1M-0.9% | $932.1M+24.4% | $916.0M+32.2% | $918.0M+30.5% | $936.5M+32.8% | $749.2M+2.8% |
| Current Assets | $265.9M+44.5% | $250.8M+42.6% | $215.8M+12.4% | $212.6M+8.3% | $184.0M+1.5% | $175.9M-10.1% | $192.0M+0.1% | $196.2M-1.1% |
| Cash & Equivalents | $105.7M+78.3% | $89.7M+40.3% | $103.1M+18.7% | $94.0M+1.0% | $59.3M-24.0% | $63.9M-33.3% | $86.8M-12.4% | $93.1M+6.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $51.1M+32.4% | $40.3M+11.7% | $28.4M-13.6% | $36.1M+35.1% | $38.6M+33.6% | $36.0M+62.7% | $32.8M+98.4% | $26.7M+1.5% |
| Accounts Receivable | $59.1M+19.9% | $61.3M+27.9% | $55.9M+31.8% | $45.6M+3.2% | $49.3M+19.3% | $47.9M+14.1% | $42.4M-11.5% | $44.2M-17.5% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $3.1M0.0% | $3.1M0.0% | $3.1M0.0% | $3.1M0.0% | $3.1M0.0% | $3.1M0.0% | $3.1M0.0% | $3.1M0.0% |
| Total Liabilities | $508.0M+1.3% | $509.6M+2.5% | $498.8M-1.9% | $511.9M+22.9% | $501.6M+38.8% | $497.2M+33.9% | $508.6M+33.4% | $416.6M+3.7% |
| Current Liabilities | $192.2M+52.5% | $153.6M+40.9% | $128.0M+17.3% | $130.9M+36.5% | $126.0M+50.1% | $109.0M+9.7% | $109.1M+3.6% | $95.9M-16.8% |
| Non-Current Liabilities | $269.8M-28.2% | $310.3M-20.1% | $325.3M-18.6% | $381.0M+18.8% | $375.6M+35.4% | $388.2M+42.7% | $399.5M+44.8% | $320.7M+11.9% |
| Long-Term Debt | $235.6M-3.7% | $242.6M-3.3% | $97.2M-62.2% | $256.2M+118.9% | $244.7M+211.8% | $251.0M+280.7% | $257.2M+275.7% | $117.0M+64.9% |
| Total Equity | $448.6M+8.3% | $441.1M+4.8% | $429.3M+0.4% | $420.3M+26.4% | $414.4M+25.0% | $420.8M+26.7% | $427.8M+32.1% | $332.6M+1.8% |
| Retained Earnings | $189.2M+22.4% | $182.3M+13.5% | $172.3M+1.8% | $163.6M-1.1% | $154.6M-6.3% | $160.6M-3.3% | $169.2M+6.4% | $165.4M+1.8% |
PANL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $21.4M+48.6% | $4.5M+203.2% | $15.1M-21.6% | $28.6M+0.4% | $14.4M+60.7% | -$4.4M-148.4% | $19.3M-19.3% | $28.5M+74.5% |
| Depreciation & Amortization | $12.4M+17.3% | $11.9M+19.7% | $11.7M+51.2% | $10.2M+32.3% | $10.6M+42.2% | $9.9M+33.4% | $7.8M+3.6% | $7.7M-4.7% |
| Stock-Based Compensation | N/A | $1.7M+11.0% | N/A | N/A | N/A | $1.5M+34.5% | N/A | N/A |
| Investing Cash Flow | $8.4M+531.6% | -$1.3M-185.0% | $9.5M+191.9% | $4.3M+109.0% | -$2.0M+78.2% | -$460K-125.9% | -$10.3M-214.5% | -$48.2M-3501.4% |
| Financing Cash Flow | -$13.9M+19.1% | -$16.5M+8.6% | -$15.6M-2.2% | $2.2M-93.8% | -$17.1M+4.5% | -$18.0M-50.8% | -$15.3M+28.2% | $34.9M+393.5% |
| Dividends Paid | $3.2M-67.4% | $3.9M-42.2% | $3.2M-33.3% | $13.1M+188.9% | $9.9M+118.3% | $6.7M+38.1% | $4.8M+6.3% | $4.5M+1.1% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.
PANL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 11.4%+9.1pp | 6.1%+3.8pp | 9.5%-0.6pp | 10.0%+0.2pp | 2.3%-3.5pp | 2.4%-8.2pp | 10.1%+2.0pp | 9.8%-4.7pp |
| Net Margin | 5.5%+7.2pp | 7.8%+9.4pp | 6.5%+0.7pp | 7.2%+3.9pp | -1.8%-4.5pp | -1.6%-12.8pp | 5.7%+4.9pp | 3.3%-10.6pp |
| Return on Equity | 2.3%+2.9pp | 3.0%+3.5pp | 2.8%+0.8pp | 2.9%+1.4pp | -0.7%-1.8pp | -0.5%-4.0pp | 2.0%+1.6pp | 1.5%-4.2pp |
| Return on Assets | 1.1%+1.4pp | 1.4%+1.6pp | 1.3%+0.4pp | 1.3%+0.6pp | -0.3%-0.8pp | -0.2%-1.9pp | 0.9%+0.7pp | 0.7%-1.9pp |
| Current Ratio | 1.38-0.1x | 1.630.0x | 1.69-0.1x | 1.62-0.4x | 1.46-0.7x | 1.61-0.4x | 1.76-0.1x | 2.05+0.3x |
| Debt-to-Equity | 0.53-0.1x | 0.550.0x | 0.23-0.4x | 0.61+0.3x | 0.59+0.4x | 0.60+0.4x | 0.60+0.4x | 0.35+0.1x |
| Asset Turnover | 0.200.0x | 0.180.0x | 0.200.0x | 0.180.0x | 0.170.0x | 0.130.0x | 0.160.0x | 0.200.0x |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Pangaea Logistics Solutions Ltd. PANL | FY2025 | $632.0M | $19.4M | 3.1% | $544.7M | 54/100 |
| ARDMORE SHIPPING CORPORATION ASC | FY2025 | $310.2M | $41.0M | 13.2% | $795.4M | 29/100 |
| Euroseas Ltd.(Marshall Islands) ESEA | FY2025 | $227.9M | $137.0M | 60.1% | $517.9M | 70/100 |
| Safe Bulkers, Inc. SB | FY2025 | N/A | $38.6M | N/A | $1.0B | — |
| GENCO SHIPPING & TRADING LTD GNK | FY2025 | $342.1M | -$4.4M | -1.3% | $1.2B | 49/100 |
| Okeanis Eco Tankers Corp. ECO | FY2025 | $391.5M | $123.0M | 31.4% | $3.7B | 18/100 |
Where Pangaea Logistics Solutions Ltd. Ranks
Frequently Asked Questions
What is Pangaea Logistics Solutions Ltd.'s annual revenue?
Pangaea Logistics Solutions Ltd. (PANL) reported $632.0M in total revenue for fiscal year 2025. This represents a 17.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Pangaea Logistics Solutions Ltd.'s revenue growing?
Pangaea Logistics Solutions Ltd. (PANL) revenue grew by 17.8% year-over-year, from $536.5M to $632.0M in fiscal year 2025.
Is Pangaea Logistics Solutions Ltd. profitable?
Yes, Pangaea Logistics Solutions Ltd. (PANL) reported a net income of $19.4M in fiscal year 2025, with a net profit margin of 3.1%.
What is Pangaea Logistics Solutions Ltd.'s EBITDA?
Pangaea Logistics Solutions Ltd. (PANL) had EBITDA of $83.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Pangaea Logistics Solutions Ltd. have?
As of fiscal year 2025, Pangaea Logistics Solutions Ltd. (PANL) had $103.1M in cash and equivalents against $97.2M in long-term debt.
What is Pangaea Logistics Solutions Ltd.'s operating margin?
Pangaea Logistics Solutions Ltd. (PANL) had an operating margin of 6.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Pangaea Logistics Solutions Ltd.'s net profit margin?
Pangaea Logistics Solutions Ltd. (PANL) had a net profit margin of 3.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Pangaea Logistics Solutions Ltd. pay dividends?
Yes, Pangaea Logistics Solutions Ltd. (PANL) paid $0.05 per share in dividends during fiscal year 2025.
What is Pangaea Logistics Solutions Ltd.'s return on equity (ROE)?
Pangaea Logistics Solutions Ltd. (PANL) has a return on equity of 4.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Pangaea Logistics Solutions Ltd.'s operating cash flow?
Pangaea Logistics Solutions Ltd. (PANL) generated $53.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Pangaea Logistics Solutions Ltd.'s total assets?
Pangaea Logistics Solutions Ltd. (PANL) had $928.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Pangaea Logistics Solutions Ltd.'s current ratio?
Pangaea Logistics Solutions Ltd. (PANL) had a current ratio of 1.69 as of fiscal year 2025, which is generally considered healthy.
What is Pangaea Logistics Solutions Ltd.'s debt-to-equity ratio?
Pangaea Logistics Solutions Ltd. (PANL) had a debt-to-equity ratio of 0.23 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Pangaea Logistics Solutions Ltd.'s return on assets (ROA)?
Pangaea Logistics Solutions Ltd. (PANL) had a return on assets of 2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Pangaea Logistics Solutions Ltd.'s P/E ratio?
Pangaea Logistics Solutions Ltd. (PANL) trades at 11.4x earnings, its market capitalization divided by net income of $47.6M net income, trailing 12 months to June 30, 2026. The market capitalization is $544.7M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Pangaea Logistics Solutions Ltd.'s price-to-sales ratio?
Pangaea Logistics Solutions Ltd. (PANL) trades at 0.8x sales, its market capitalization divided by revenue of $710.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $544.7M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Pangaea Logistics Solutions Ltd.'s Altman Z-Score?
Pangaea Logistics Solutions Ltd. (PANL) has an Altman Z-Score of 1.86, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Pangaea Logistics Solutions Ltd.'s Piotroski F-Score?
Pangaea Logistics Solutions Ltd. (PANL) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Pangaea Logistics Solutions Ltd.'s earnings high quality?
Pangaea Logistics Solutions Ltd. (PANL) has an earnings quality ratio of 2.77x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Pangaea Logistics Solutions Ltd. cover its interest payments?
Pangaea Logistics Solutions Ltd. (PANL) has an interest coverage ratio of 1.71x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Pangaea Logistics Solutions Ltd.?
Pangaea Logistics Solutions Ltd. (PANL) scores 54 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.