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Pangaea Logistics Solutions Ltd. (PANL) stock

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NASDAQ: PANL Nasdaq Marine Transportation Next results ~November 5, 2026

C Fundamentals grade

Pangaea Logistics Solutions Ltd. is a US-listed company in the marine transportation industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($31.79) is 4.17x the share price ($7.62); a gap this wide almost always means a data problem.

Price vs value

Under review: our cash-flow value ($31.79) is 4.17x the share price ($7.62); a gap this wide almost always means a data problem. We'll show the comparison once resolved.

Pangaea Logistics Solutions Ltd. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 3 selling0 purchases and 3 sales by directors and officers, last 12 monthsInsider trades
  • Funds106 adding, 47 cuttingOf 42 active managers that changed their stake, 27 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Pangaea Logistics Solutions files

Where Pangaea Logistics Solutions stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $710m, up 22.5% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin held at 9.8%. Operating margin widened to 9.3% from 6.3%. The diluted share count is up 18.4% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 5 financial-health checks.

Our model value for Pangaea Logistics Solutions is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 10, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Pangaea Logistics Solutions Ltd.'s trailing-twelve-month revenue grew 22.5% year on year, with a free-cash-flow margin of 9.8%. Where it lags: change in share count of 18.4% ranks 34 of 39 marine transportation companies we cover.

Our discounted-cash-flow model values the business at ~$32 per share in the base case (~$23–$43 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 20.4% while net income grew 439.3%: a 419pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 22.5% over the last 12 months, against a median of 0.8% for marine transportation companies we cover.
  • Margins widening. Operating margin is up 3.0 points on a year ago.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 24.5% over 90 days.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Share dilution. Diluted shares rose 18.4% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 50% and a beta of 1.0 against the S&P 500.

Latest results: FY2026 Q2

Filed August 10, 2026
Earnings per share
$0.26 against an average estimate of $0.24: beat by 9.9%
Revenue
$187m, up 19.4% on a year earlier
Share reaction
-6.9% in the first session after the results on August 10, 2026, against -0.3% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.30

Pangaea Logistics Solutions' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-5.0%
  • 1 week-5.9%
  • 1 month-10.3%
  • This year+12.6%
  • 1 year+57.6%
  • 5 years+112.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$710M
Operating margin
9.3%
Net margin
6.7%
EPS (TTM, diluted)
$0.73

Growth

Revenue growth
+22.5%
Change in growth rate
−0.1 pts
Share count change
+18.4%

Cash

Free cash flow (TTM)
$69.6M
FCF margin
9.8%
Stock pay % of revenue
0.6%

Earnings

Last results
August 10, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Pangaea Logistics Solutions Ltd. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($31.79) is 4.17x the share price ($7.62); a gap this wide almost always means a data problem.

Our value per share comes from a discounted-cash-flow model of Pangaea Logistics Solutions Ltd.'s free cash flow after stock-based pay ( $69.4M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Pangaea Logistics Solutions Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 9.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.92 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$32 ~$23–$43 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$0.9 ~$3.4–$11 Left out: out of range vs price (0.12x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$12 ~$8.8–$16 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$13 ~$11–$16 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Pangaea Logistics Solutions Ltd. with Marine Transportation in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$1.93$2.49$2.69$2.22$2.23$2.09$2.95$4.25$7.25$4.99$6.71$7.56
Market value$68m$88m$105m$95m$96m$92m$132m$191m$329m$230m$434m$493m
+ Net debt (− = net cash)$114m$106m$104m$64m$60m$61m$68m−$12m$83m$170m$147m$130m
Enterprise value$181m$194m$209m$159m$157m$152m$200m$179m$413m$400m$581m$623m
Multiples
Price / sales 0.2x0.4x0.3x0.3x0.2x0.2x0.2x0.3x0.7x0.4x0.7x0.7x
Price / earnings 6.0x11.8x13.4x5.3x8.3x8.1x2.0x2.4x12.5x7.9x22.4x10.4x
Price / free cash flow 2.6x4.7x3.6x2.4x2.2x4.4x2.1x1.4x6.1x3.5x8.8x7.1x
EV / EBITDA 5.4x7.2x6.6x3.0x3.7x4.1x2.0x1.3x5.5x5.1x7.0x5.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

40 /100

Weak moat

How hard Pangaea Logistics Solutions's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 6 / 20

    Net income has been a median 4.9% of total assets over 10 years.

  • Durability 5 / 20

    Operating margin has been a median 8.6%; its worst year was 2.3%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 10.3% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 47.2% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (45 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $205m and EPS of $0.30 (range $0.26 to $0.35) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.88 +226% $745m +18%
Next $1.10 +25% $742m −0%

Next year's EPS estimate has moved +24.5% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −28.3% on 90 days ago. In the last 30 days, 1 analyst raised Pangaea Logistics Solutions Ltd.'s forecast and 1 cut it.

Consensus EPS forecast Pangaea Logistics Solutions Ltd., last 90 days
$0.80 $0.90 $1.00 $1.10 $1.20 $1.30 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.23 Current fiscal year, 60 days ago: $1.23 Current fiscal year, 30 days ago: $1.23 Current fiscal year, 7 days ago: $1.23 Current fiscal year, Now: $0.88 $0.88 Next fiscal year, 90 days ago: $0.88 Next fiscal year, 60 days ago: $0.88 Next fiscal year, 30 days ago: $0.88 Next fiscal year, 7 days ago: $0.88 Next fiscal year, Now: $1.10 $1.10

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.23$0.88
60 days ago $1.23$0.88
30 days ago $1.23$0.88
7 days ago $1.23$0.88
Now $0.88$1.10

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.24 $0.26 +9.9%
Mar 2026 $0.01 $0.11 +1000.0%
Dec 2025 $0.23 $0.16 −30.4%
Sept 2025 $0.03 $0.17 +466.7%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Pangaea Logistics Solutions Ltd.'s revenue by +9.7% next year and +12.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+4.7%, weight 56%) and the company's own record (+15.9%, weight 44%) . How the weights are set.

Analyst recommendations

3 analysts, Oct 2026
Buy3100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202633

Counts of recommendations published by analysts covering Pangaea Logistics Solutions Ltd., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.1%
of tradable shares
Days to cover
2.6
at average volume
Short interest, 1 month
+9%
to October 15, 2026
Held by institutions
43%
of shares
Held by insiders
51.1%
of shares
Employees
170
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +57.6%

$4.80 on October 31, 2025 to $7.56

ThenNowEffect
Revenue (last 12 months) $580m $710m +22.5%
Net margin 1.5% 6.7% +340.3%
P/E multiple 29.9x 10.4x −65.4%
Share count 55m 65m −15.6%

Biggest factor: net margin.

Last 3 years +43.2%

$5.28 on November 3, 2023 to $7.56

ThenNowEffect
Revenue (last 12 months) $544m $710m +30.5%
Net margin 7.4% 6.7% −10.0%
P/E multiple 5.9x 10.4x +76.7%
Share count 45m 65m −31.0%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
PANL+41%+44%+71%−31%+35%+13%
Industry peers (median)+20%+10%+20%−10%+20%+33%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PANL67%67%67%33%42%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PANL−40%−37%−26%−46%−29%−30%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 66% from November 10, 2017 to March 19, 2020. Getting back needed a 192% gain, reached on June 15, 2021, 453 days after the low.

Price behaviour

52-week range
$4.58 – $9.17
From 52-week high
−17.6%
vs 50-day average
−7.4%
vs 200-day average
−1.9%
Volatility (1 year)
50%
Beta vs S&P 500
1.01

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±8.2%
After a week
8 up, 4 down
typical move ±10.3%
After a month
6 up, 6 down
typical move ±15.6%
Results releasedNext dayS&P 500 next day5 days21 days
August 10, 2026 −6.9% −0.3% +3.4% +13.3%
May 11, 2026 +10.2% +0.1% +1.0% −6.3%
March 11, 2026 −15.7% −1.6% −16.3% −12.7%
November 6, 2025 +16.9% −1.0% +29.1% +45.6%
August 7, 2025 −0.6% +0.7% +2.6% +9.7%
May 12, 2025 +7.7% +4.0% +10.2% +23.6%
March 13, 2025 +11.3% +0.7% +12.3% −11.9%
November 13, 2024 −5.3% −0.6% −11.8% −19.6%
August 8, 2024 −0.5% +2.8% −0.5% −3.2%
May 9, 2024 −1.6% +0.7% +2.3% +4.3%
March 13, 2024 −16.3% −0.4% −17.1% −19.9%
November 8, 2023 +5.1% −0.7% +17.2% +17.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Pangaea Logistics Solutions Ltd. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Pangaea Logistics Solutions Ltd.
$400M $500M $600M $700M $800M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $495.3M Revenue (TTM), FY23 Q4: $499.3M Revenue (TTM), FY24 Q1: $490.3M Revenue (TTM), FY24 Q2: $503.7M Revenue (TTM), FY24 Q3: $521.3M Revenue (TTM), FY24 Q4: $536.5M Revenue (TTM), FY25 Q1: $554.6M Revenue (TTM), FY25 Q2: $579.8M Revenue (TTM), FY25 Q3: $595.3M Revenue (TTM), FY25 Q4: $632M Revenue (TTM), FY26 Q1: $679.8M Revenue (TTM), FY26 Q2: $710.2M $710.2M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $495.3M
FY23 Q4 $499.3M
FY24 Q1 $490.3M
FY24 Q2 $503.7M
FY24 Q3 $521.3M
FY24 Q4 $536.5M
FY25 Q1 $554.6M
FY25 Q2 $579.8M
FY25 Q3 $595.3M
FY25 Q4 $632M
FY26 Q1 $679.8M
FY26 Q2 $710.2M
Revenue growth, TTM YoY Pangaea Logistics Solutions Ltd.
-40% -20% 0% 20% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -38.6% Revenue growth, TTM YoY, FY23 Q4: -28.6% Revenue growth, TTM YoY, FY24 Q1: -21.1% Revenue growth, TTM YoY, FY24 Q2: -7.4% Revenue growth, TTM YoY, FY24 Q3: 5.2% Revenue growth, TTM YoY, FY24 Q4: 7.5% Revenue growth, TTM YoY, FY25 Q1: 13.1% Revenue growth, TTM YoY, FY25 Q2: 15.1% Revenue growth, TTM YoY, FY25 Q3: 14.2% Revenue growth, TTM YoY, FY25 Q4: 17.8% Revenue growth, TTM YoY, FY26 Q1: 22.6% Revenue growth, TTM YoY, FY26 Q2: 22.5% 22.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -38.6%
FY23 Q4 -28.6%
FY24 Q1 -21.1%
FY24 Q2 -7.4%
FY24 Q3 5.2%
FY24 Q4 7.5%
FY25 Q1 13.1%
FY25 Q2 15.1%
FY25 Q3 14.2%
FY25 Q4 17.8%
FY26 Q1 22.6%
FY26 Q2 22.5%
Operating margin (TTM) Pangaea Logistics Solutions Ltd.
6% 8% 10% 12% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 10.7% Operating margin (TTM), FY23 Q4: 9.0% Operating margin (TTM), FY24 Q1: 10.0% Operating margin (TTM), FY24 Q2: 9.7% Operating margin (TTM), FY24 Q3: 8.5% Operating margin (TTM), FY24 Q4: 9.0% Operating margin (TTM), FY25 Q1: 7.3% Operating margin (TTM), FY25 Q2: 6.3% Operating margin (TTM), FY25 Q3: 6.4% Operating margin (TTM), FY25 Q4: 6.5% Operating margin (TTM), FY26 Q1: 7.1% Operating margin (TTM), FY26 Q2: 9.3% 9.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 10.7%
FY23 Q4 9.0%
FY24 Q1 10.0%
FY24 Q2 9.7%
FY24 Q3 8.5%
FY24 Q4 9.0%
FY25 Q1 7.3%
FY25 Q2 6.3%
FY25 Q3 6.4%
FY25 Q4 6.5%
FY26 Q1 7.1%
FY26 Q2 9.3%
FCF margin (TTM) Pangaea Logistics Solutions Ltd.
8% 10% 12% 14% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 12.7% FCF margin (TTM), FY23 Q4: 10.8% FCF margin (TTM), FY24 Q1: 10.4% FCF margin (TTM), FY24 Q2: 11.5% FCF margin (TTM), FY24 Q3: 13.5% FCF margin (TTM), FY24 Q4: 12.2% FCF margin (TTM), FY25 Q1: 9.4% FCF margin (TTM), FY25 Q2: 10.0% FCF margin (TTM), FY25 Q3: 9.7% FCF margin (TTM), FY25 Q4: 8.5% FCF margin (TTM), FY26 Q1: 9.2% FCF margin (TTM), FY26 Q2: 9.8% 9.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 12.7%
FY23 Q4 10.8%
FY24 Q1 10.4%
FY24 Q2 11.5%
FY24 Q3 13.5%
FY24 Q4 12.2%
FY25 Q1 9.4%
FY25 Q2 10.0%
FY25 Q3 9.7%
FY25 Q4 8.5%
FY26 Q1 9.2%
FY26 Q2 9.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Pangaea Logistics Solutions took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $632M
  2. Selling, general and admin $31.1M · 4.9%
  3. Other operating costs $560M · 88.6%
  4. Operating income $40.9M · 6.5%
  5. Interest and other $21.2M · 3.4%
  6. Net income $19.4M · 3.1%

Shares of revenue. Source: Pangaea Logistics Solutions's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 392 398 287 238 385 373 412 383 718 700 499 537 632 710
EBITDA 31 9 33 27 32 54 42 37 102 135 75 79 83 112
Operating income 21 −2 21 13 16 36 23 20 79 106 45 48 41 66
Net income 15 −12 11 7 8 18 12 11 67 79 26 29 19 48
Diluted EPS −$0.65 −$1.61 $0.32 $0.21 $0.20 $0.42 $0.27 $0.26 $1.50 $1.76 $0.58 $0.63 $0.30 $0.73
Growth (year on year)
Revenue — +1.5% −27.9% −17.2% +61.8% −3.1% +10.5% −7.1% +87.5% −2.6% −28.6% +7.5% +17.8% +22.5%
EBITDA — −70.4% +262.5% −18.8% +17.2% +69.7% −22.2% −12.0% +177.1% +32.6% −44.7% +5.5% +5.8% +55.3%
Operating income — −111.7% — −37.2% +24.3% +125.1% −35.5% −15.3% +300.4% +33.8% −57.7% +8.6% −15.5% +81.9%
Net income — −178.5% — −33.9% +4.8% +127.3% −34.3% −2.6% +492.2% +18.2% −66.9% +9.8% −33.0% —
Diluted EPS — — — −34.4% −4.8% +110.0% −35.7% −3.7% +476.9% +17.3% −67.0% +8.6% −52.4% —
Margins
EBITDA margin 7.9% 2.3% 11.6% 11.3% 8.2% 14.4% 10.1% 9.6% 14.2% 19.3% 15.0% 14.7% 13.2% 15.8%
Operating margin 5.4% −0.6% 7.1% 5.4% 4.2% 9.7% 5.6% 5.1% 11.0% 15.1% 8.9% 9.0% 6.5% 9.3%
Net margin 3.9% −3.0% 3.9% 3.1% 2.0% 4.8% 2.8% 3.0% 9.4% 11.4% 5.3% 5.4% 3.1% 6.7%
Free-cash-flow margin 5.4% 4.8% 9.0% 7.9% 7.6% 10.6% 10.7% 5.4% 8.6% 19.2% 10.8% 12.2% 7.8% 9.8%
Cash flow
Cash from operations 21 20 26 19 29 40 44 21 62 135 54 66 54 70
Capital spending 0 1 0 0 0 0 0 0 0 1 0 0 4 0
Free cash flow 21 19 26 19 29 40 44 21 62 134 54 66 49 70
Stock-based pay 0 0 0 1 1 1 2 2 2 2 2 3 4 4
Free cash flow after stock pay 21 19 25 18 28 39 42 19 60 132 52 63 45 65
Balance sheet
Cash 38 30 38 22 35 54 51 47 56 128 99 87 103 106
Total debt 104 109 151 129 138 117 111 108 124 116 182 257 250 236
Net debt (negative = net cash) 66 79 114 106 104 64 60 61 68 −12 83 170 147 130
Diluted shares 13m 19m 35m 35m 39m 43m 43m 44m 45m 45m 45m 46m 65m 65m
Returned to shareholders
Dividends 0 0 0 0 1 2 8 1 6 13 18 19 16 23
Total returned 0 0 0 0 1 2 8 1 6 13 18 19 16 23

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · June 30, 2026
What it owns · $957m
Short-term assets $266mLonger-term assets $691m
What it owes, and who funded it · $641m
Short-term liabilities $192mShareholders' equity $449m
  • Short-term assets cover short-term liabilities $266m of assets due within a year against $192m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $106m of cash against $236m of debt.
  • Debt below 40% of shareholders' equity Debt is 53% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 43% to 53% over five years.
  • A year's operating cash flow covers at least 20% of debt $70m of operating cash flow against $236m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Pangaea Logistics Solutions Ltd.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$23.4M
Returned to shareholders
34%
of free cash flow
Diluted share count
+18.4%
year over year
Total shareholder yield
4.7%
dividends 4.7% + buybacks 0.0% of market value
Dividend payout ratio
49%
of net income paid out
Days sales outstanding
30 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in marine transportation
Last 12 months unless stated PANL SFL GSL TEN CMDB NVGS Median
Revenue, last 12 months $710m $733m $766m $799m $597m $587m $329m
Revenue growth, last 12 months 22.5% −18.9% 7.8% −0.7% — 3.6% 0.8%
Revenue growth, 3-year average 9.3% 39.4% 74.9% 24.1% — 35.0% 16.8%
Operating margin 9.3% 18.6% 56.8% 31.6% −5.1% 28.2% 18.6%
Operating margin, 3-year average 8.4% 35.5% 33.4% 7.2% — 14.4% 13.1%
Net margin 6.7% −3.6% 54.3% 20.1% −6.3% 17.1% 13.3%
Cash from operations / revenue 9.8% 36.4% 68.9% 37.3% 12.7% 34.4% 33.1%
Free-cash-flow margin 9.8% 4.4% 67.1% −0.6% 7.9% 19.9% 14.2%
Free-cash-flow margin, 3-year average 10.4% 19.4% 54.5% — — 27.5% 9.4%
Stock pay / revenue 0.6% 0.1% 1.8% 0.9% 0.4% 0.3% 0.7%
Change in share count 18.4% 2.4% — 0.8% >999% −5.3% 0.5%

Median of all 42 companies we cover in marine transportation. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

42 marine transportation companies
Measure Company Peer median Rank
Revenue growth Growth 22.5% 0.8% 10 of 40
Change in growth rate Growth -0.1pp +0.7pp 21 of 40
Operating margin Profitability 9.3% 19.8% 30 of 40
Net margin Profitability 6.7% 13.4% 29 of 42
Free-cash-flow margin Cash generation 9.8% 13.6% 28 of 41
Stock pay as % of revenue Cash generation 0.6% 0.9% 13 of 34
Long-term debt as % of assets Balance sheet 24.6% 24.2% 19 of 35
Change in share count Balance sheet 18.4% 0.5% 34 of 39
Days sales outstanding Balance sheet 30 days 19 days 24 of 33

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Voyage $578M 91.4% ▲ 16.9%
Charter $39.3M 6.2% ▲ 29.5%
Terminal Stevedore Revenue $15.2M 2.4% ▲ 25.9%
Geography
Region Revenue Share YoY
Other $223M 35.3% ▲ 27.2%
United States $178M 28.1% ▲ 4.9%
Canada $65M 10.3% ▼ 10.7%
Country_Germany Domain $59.4M 9.4% ▲ 34.7%
Country_Singapore Domain $59.2M 9.4% ▲ 50.1%
United Kingdom $48M 7.6% ▲ 35.1%

From Pangaea Logistics Solutions Ltd.'s 10-K filed March 16, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$182M
Institutions reporting
158
Shares held vs prior quarter
▲ 3.0%
Positions opened / closed
32 / 16

Top buyers and sellers, Q2 2026: 106 institutions bought and 47 sold ; the biggest buyer was Hillsdale Investment Management Inc (+1.2M shares) and the biggest seller Rockland Trust Co (−3.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Dimensional Fund Advisors LP $20.5M 3.2M 11.3% ▲ 9.5%
Blackrock, Inc. $18.5M 2.8M 10.1% ▲ 26.6%
Rockland Trust Co $8.3M 1.3M 4.6% ▼ 73.1%
Hillsdale Investment Management Inc. $7.7M 1.2M 4.2% New
Two Sigma Investments, LP $6.4M 984K 3.5% ▲ 54.5%
Geode Capital Management, LLC $6.2M 948K 3.4% ▲ 20.4%
Acadian Asset Management LLC $5.9M 914K 3.3% ▲ 17.8%
Cable Car Capital, LP $5.7M 870K 3.1% 0.0%
Qube Research & Technologies Ltd $5.6M 859K 3.1% ▲ 131.6%
Bridgeway Capital Management, LLC $4.8M 741K 2.6% ▲ 4.5%
Nuveen, LLC $4.7M 729K 2.6% ▲ 93.6%
Renaissance Technologies LLC $4.6M 714K 2.5% ▼ 4.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Pangaea Logistics Solutions Ltd.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.1M 3 trades by 3 insiders · 0% under pre-set plans
Net ▼ $1.1M net selling
Insider Date Trade Shares Price Value
Rosenfeld Eric Director May 26, 2026 Sell 100,000 $8.37 $837,000
Delsignore Gianni Chief Financial Officer March 19, 2026 Sell 23,779 $6.99 $166,215
Petersen Mads Rosenber Boye Chief Executive Officer March 18, 2026 Sell 19,572 $7.06 $138,178

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 10, 2026
  • May 11, 2026
  • March 11, 2026
  • November 6, 2025
  • August 7, 2025
  • May 12, 2025

Recent SEC filings

Data status

When each part of this page on Pangaea Logistics Solutions Ltd. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Pangaea Logistics Solutions Ltd. in brief

What does Pangaea Logistics Solutions Ltd. do?
Pangaea Logistics Solutions Ltd. is a US-listed company in the marine transportation industry. Its financial year ends in December.
What is Pangaea Logistics Solutions Ltd.'s stock ticker?
Pangaea Logistics Solutions Ltd. trades under the ticker PANL on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Pangaea Logistics Solutions Ltd.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Pangaea Logistics Solutions Ltd. reported revenue of $710M, 22.5% higher than a year earlier, according to its SEC filings.
What is Pangaea Logistics Solutions Ltd.'s free cash flow?
Pangaea Logistics Solutions Ltd.'s free-cash-flow margin is 9.8% of revenue over the trailing twelve months, ranking 28 of the 41 marine transportation companies we cover.
Who are Pangaea Logistics Solutions Ltd.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Dimensional Fund Advisors LP, Blackrock, Inc. and Rockland Trust Co. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Pangaea Logistics Solutions Ltd.'s market cap?
On November 2, 2026, Pangaea Logistics Solutions Ltd.'s market capitalisation was about $493M, with a price-to-earnings ratio of 10.4 and net debt of $130M. Market figures come from third-party market data and may be delayed.
Does Pangaea Logistics Solutions Ltd. pay a dividend?
Yes: Pangaea Logistics Solutions Ltd. paid $23.4M in dividends over the trailing twelve months, a dividend yield of 4.73% and a payout ratio of 49.2%.
How much debt does Pangaea Logistics Solutions Ltd. have?
Pangaea Logistics Solutions Ltd.'s debt-to-equity ratio is 52.5%, from its latest balance sheet (42.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are Pangaea Logistics Solutions Ltd.'s competitors?
In our Marine Transportation peer group, the companies closest to Pangaea Logistics Solutions Ltd. are SFL Corp Ltd., Global Ship Lease, Inc., Tsakos Energy Navigation LTD, Costamare Bulkers Holdings Ltd and Navigator Holdings Ltd. The side-by-side comparison below sets their revenue, margins and growth against Pangaea Logistics Solutions Ltd.'s.
Are insiders buying or selling Pangaea Logistics Solutions Ltd. stock?
Over the last 12 months, Pangaea Logistics Solutions Ltd.'s directors and officers reported 0 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is Pangaea Logistics Solutions Ltd.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Pangaea Logistics Solutions Ltd. announces its own schedule.