Pangaea Logistic
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 4.60 $ to 9.40 $ · Last price: 8.40 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Marine Shipping
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Pangaea Logistic PANL | 0.6 | 14.4 | 5.0 | 20.5 | – | 17.8 | 55.6 |
| Kirby Corporation KEX | 7.4 | 20.9 | 10.8 | 33.2 | 13.3 | 3.0 | 67.5 |
| Matson Inc MATX | 7.1 | 17.1 | 9.0 | 23.0 | 7.8 | -2.3 | 123.3 |
| Hafnia Limited HAFN | 4.9 | 10.8 | 5.5 | 31.9 | 22.3 | -18.1 | 77.2 |
| ZIM Integrated Shipping Services Ltd ZIM | 3.7 | 38.0 | 3.8 | 31.0 | -1.0 | -18.1 | 112.0 |
| Star Bulk Carriers Corp SBLK | 3.6 | 12.5 | 8.2 | 47.3 | 39.7 | -17.6 | 71.6 |
| Okeanis Eco Tankers Corp. ECO | 3.4 | 8.0 | 6.7 | 51.7 | 75.0 | -0.4 | 234.7 |
| Danaos Corporation DAC | 3.1 | 5.5 | 3.7 | 70.8 | 48.4 | 2.8 | 73.6 |
| Navios Maritime Partners LP NMM | 2.7 | 7.9 | 4.1 | 90.3 | 34.3 | 0.8 | 92.0 |
| Median of companies shown | 3.6 | 12.5 | 5.5 | 33.2 | 28.3 | -0.4 | 77.2 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 238 | 13 | 7 | 0.21 | 19 | 116 | 362 |
| 2017 | 386 | 16 | 8 | 0.20 | 29 | 145 | 423 |
| 2018 | 373 | 36 | 18 | 0.42 | 40 | 233 | 453 |
| 2019 | 412 | 23 | 12 | 0.27 | 44 | 170 | 480 |
| 2020 | 383 | 20 | 11 | 0.26 | 21 | 183 | 450 |
| 2021 | 718 | 79 | 67 | 1.50 | 62 | 247 | 707 |
| 2022 | 700 | 106 | 79 | 1.76 | 135 | 314 | 748 |
| 2023 | 499 | 45 | 26 | 0.58 | 54 | 324 | 705 |
| 2024 | 537 | 48 | 29 | 0.63 | 66 | 428 | 936 |
| 2025 | 632 | 38 | 19 | 0.30 | 54 | 429 | 928 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.18 | 632.00 | 147 | 11.60 | 5.70 | 19 | 8 |
| 2025: Q1 | -0.04 | -114.20 | 123 | 17.20 | -1.60 | -4 | -5 |
| 2025: Q2 | -0.04 | -153.50 | 157 | 19.20 | -1.70 | 14 | 13 |
| 2025: Q3 | 0.19 | 69.10 | 169 | 10.20 | 7.20 | 29 | 25 |
| 2025: Q4 | 0.19 | 1.10 | 184 | 24.90 | 6.50 | 15 | 15 |
| 2026: Q1 | 0.21 | – | 171 | 38.90 | 7.80 | 5 | 3 |
| 2026: Q2 | 0.16 | 500.00 | 187 | 19.40 | 5.50 | 21 | 21 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 4 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Momentum & Trend
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 0.88 | 0.81 – 0.95 | 745 | 225.9% | 2 |
| 12/31/2027 | 1.10 | 1.00 – 1.20 | 742 | 25.0% | 2 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly -3.9% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $63.6M |
|---|---|
| Market cap | $551.0M |
| Free cash flow in year ten | $42.7M |
| Terminal value as a share of market value | 40.9% |
For comparison: over the past five years free cash flow grew by 21.4% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Pangaea Logistics setzt KI/maschinelles Lernen laut Geschäftsbericht (10-K) 2025 operativ ein — konkret zur Optimierung der Schiffsgeschwindigkeit und Treibstoffersparnis über Wetterrouting-Algorithmen und maschinelles Lernen sowie durch ein eigens aufgebautes internes KI-Team zur Integration von KI in den Betrieb. KI ist keine Umsatzquelle (keine KI-Produkte), sondern ein Effizienz-/Betriebswerkzeug; die zusätzlichen KI-Erwähnungen sind generische Cybersecurity-/Risikohinweise. Damit greift Kategorie 'nutzt' (operativer Einsatz belegt, keine KI-Erlöse).
View the full file — quotes, sources, reviewed filings
„Using sophisticated forecasting algorithms and machine learning, we optimize the speed of our vessels by considering commercial and environmental concerns while reducing the amount of fuel consumed when the ships encounter adverse weather and/or currents."
Mithilfe ausgefeilter Prognosealgorithmen und maschinellen Lernens optimieren wir die Geschwindigkeit unserer Schiffe unter Berücksichtigung kommerzieller und ökologischer Aspekte und verringern zugleich den Treibstoffverbrauch, wenn die Schiffe auf ungünstiges Wetter und/oder Strömungen treffen.
10-K · 2026-03-16 · View SEC filing
„We have established an AI team to govern and integrate AI into our operations and implement technical security protocols as part of the overall security setup. At this stage, we do not expect AI to cause increased risk to our industry or business."
Wir haben ein KI-Team eingerichtet, um KI zu steuern und in unseren Betrieb zu integrieren und technische Sicherheitsprotokolle als Teil des Gesamt-Sicherheitskonzepts umzusetzen. Zum jetzigen Zeitpunkt erwarten wir nicht, dass KI ein erhöhtes Risiko für unsere Branche oder unser Geschäft verursacht.
10-K · 2026-03-16 · View SEC filing
Filings Reviewed: 10-K 2026-03-16 · 10-Q 2026-05-11 · 10-Q 2025-11-10 · 10-Q 2025-08-08 · 10-Q 2025-05-12 · 10-K 2025-03-18
Rated on July 10, 2026 · How the Rating Is Built
Earnings calls
What the Earnings Calls Reveal
Pangaea Logistics executes reliably in day-to-day business: across all nine reviewed calls the achieved freight rate beat the market average, the forward bookings quoted for the running quarter almost always held, and hard commitments on vessel deliveries, the fleet combination and financings were met on time. Two longer-horizon announcements did not hold: the dividend, called sustainable through the cycle three times, was halved in May 2025, and the Tampa port expansion starts roughly three quarters after the last date given. A quantified savings target was never picked up again, and one margin figure for 2024-Q4 reads differently in the transcript a year later. No transcript is available for fiscal 2024-Q2.
Dividend halved, buyback stalled
In 2023-Q4 and word for word again in 2024-Q1 the CFO called the running 0.10 dollar quarterly dividend sustainable through the market cycle, and in 2024-Q3 management repeated it as sustainable through the economic cycle. On the 2024-Q4 call an analyst asked directly, given the visibly weak quarters ahead, whether the amount would be maintained — and pointedly did not get that confirmation: management pointed to a board decision at every meeting, stressed there was no fixed formula, and only said it strives for a consistent and sustainable dividend. Two months later, with the 2025-Q1 numbers, the dividend was halved to 0.05 dollar; asked what had changed, the CEO answered that they want a consistent dividend, which does not necessarily mean a consistent amount. That quarter carried an adjusted loss of 2.1 million dollars with market rates down 37 percent. The cut was justified with a new buyback programme of up to 15 million dollars, yet through 2025-Q3 the company had repurchased only about 600,000 shares for roughly 3 million dollars. In 2025-Q4 the same figure stood for the whole of 2025, so nothing was added in the fourth quarter, and in 2026-Q1 the programme disappeared from the remarks entirely. Against roughly 3.2 million dollars of dividend saved per quarter stands a buyback of 3 million dollars in more than a year. That adjusted EBITDA exceeded the levels of the 0.10 dollar quarters from 2025-Q3 onward does not prove the old amount was covered: the combination added 18.1 million shares, and per share the adjusted result in 2025-Q3, 2025-Q4 and 2026-Q1 came in at 0.17, 0.16 and 0.11 dollar, inside the same band as the 0.10 dollar quarters, which ranged from 0.14 to 0.24 dollar, and below it at the end.
Tampa terminal three quarters late
In 2024-Q3 management announced that the Tampa site would go into operation the following year and that 20 to 25 vessel calls were probably already booked for 2025; in 2024-Q4 this became a pledge to bring 20 ships loaded with aggregates there during that year. In 2025-Q1 the expansion was said to be on schedule, with the CFO naming a start in late Q3 or Q4 2025, and in 2025-Q2 management said it was nearing completion. In 2025-Q3 management itself flagged a delay caused by outstanding equipment deliveries and pushed the start to early 2026, in 2025-Q4 to the beginning of the second half of 2026 and in 2026-Q1 to June 2026. Measured against the last date given for 2025 that is roughly three quarters of slippage, and the 20 to 25 calls were never mentioned again after 2024-Q4. In fairness, every postponement came in the prepared remarks rather than only under questioning, and a reason was given each time.
2024-Q4 margin figure inconsistent
For the fourth quarter of 2024 the CFO quoted an adjusted EBITDA margin of 16.7 percent in March 2025, explicitly 180 basis points above the 14.9 percent of the year-earlier quarter. One year later, on the 2025-Q4 call, the same quarter appears as a comparison base of 13 percent, with no reference to a changed calculation. Both cannot be right: on adjusted EBITDA of 23.2 million dollars, a 13 percent margin would require revenue above that of the 2025 quarter, and that with 26 percent more shipping days and an 11 percent higher rate in 2025. Other year-earlier comparisons do line up, for instance 15.6 against 15.7 percent for the third quarter of 2024. It stays an unexplained single case, not a pattern.
Savings target left unproven
In 2025-Q1 the CEO said that by year end the company hoped to have implemented at least 2.5 million dollars of annual cost savings. That was phrased as a hope, not a firm pledge, and was backed by concrete areas: lower insurance premiums thanks to the larger fleet plus purchasing and operating benefits from the combination. On the same call an analyst asked whether perhaps a quarter of it was done; the answer contained no number and instead described a continuous process in which larger items take longer. In the calls for 2025-Q2, 2025-Q3, 2025-Q4 and 2026-Q1 the figure never appears again, neither as an achievement nor as a withdrawal. Whether it was reached cannot be answered from the transcripts. Vessel operating expenses per day net of technical management fees did rise from 5,820 to 5,932 dollars in 2025, but owned days grew by roughly 60 percent over the same period, technical management was taken in house, and for the transfer of eight ice-class vessels to the company's own management arm the company explicitly named extra costs in 2025-Q4. What is open is the reporting; a miss is not established.
Forward bookings hold up
The only regular numerical outlook the company gives are the shipping days already booked at the time of the call and the rate achieved for them, and that disclosure proved dependable across the entire period. For 2024-Q1 it announced 17,430 dollars per day and reported 17,697 dollars, for 2025-Q1 11,412 against 11,390 dollars, for 2025-Q3 14,272 against 15,559 dollars, for 2025-Q4 17,107 against 17,773 dollars and for 2026-Q1 14,917 against 15,252 dollars. Only twice did the result land slightly below the announcement, in 2024-Q4 at 15,941 instead of 16,629 dollars and in 2025-Q2 at 12,108 instead of 12,524 dollars. Hard operational commitments were also met on time: delivery of two 2016-built vessels in the third quarter of 2024, closing of the combination with 15 Handysize ships by 30 December 2024, and the ship financings of 18 million dollars announced in summer 2025. Unwelcome items are volunteered as well, such as the reclassification of 1.8 million dollars from vessel operating expenses into general and administrative costs in 2025-Q2 and the shortening of the depreciation period from 30 to 25 years in 2026-Q1. Fleet policy is explained coherently too: all three disposals between 2025-Q2 and 2026-Q1 involved vessels aged 20 to 22 years facing an expensive special survey, exactly as flagged in 2024-Q4.
Management promises
- 2023-Q4 — The current quarterly dividend of 0.10 dollar is sustainable through the market cycle. Repeated verbatim in 2024-Q1 and 2024-Q3. On the 2024-Q4 call management declined to confirm the amount when asked directly, pointing to a quarterly decision without a fixed formula; in May 2025 the dividend was halved to 0.05 dollar with the 2025-Q1 results. When challenged, the term consistent dividend was redefined to mean a consistent rhythm rather than a consistent amount. broken
- 2024-Q1 — Two 2016-built sister vessels of 58,000 deadweight tons each for a combined 56.6 million dollars, delivery in the third quarter of 2024. Confirmed as delivered during the quarter on the 2024-Q3 call, taking the owned fleet to 26 vessels. kept
- 2024-Q3 — The combination with 15 Handysize vessels will close by the end of 2024. Closed on 30 December 2024 and confirmed on the 2024-Q4 call; the promised scale showed up in materially higher shipping days from 2025-Q1 onward. kept
- 2024-Q3 — The Tampa terminal will be up and running in 2025, with probably 20 to 25 vessel calls already booked for 2025. Still on schedule in 2025-Q1 with a start in late Q3 or Q4 2025, pushed to early 2026 in 2025-Q3 because of outstanding equipment deliveries, to the second half of 2026 in 2025-Q4 and to June 2026 in 2026-Q1 — roughly three quarters of slippage. The 20 to 25 calls were never mentioned again after 2024-Q4. Every postponement was volunteered by the company. broken
- 2025-Q1 — By the end of 2025 the company hopes to have implemented at least 2.5 million dollars of annual cost savings. Phrased as a hope, not a firm pledge. Verification is missing: the figure never comes up in the calls from 2025-Q2 through 2026-Q1. Vessel operating expenses per day rising from 5,820 to 5,932 dollars do not disprove it either, since fleet size, technical management and one-off items made 2025 not comparable. open
- 2025-Q1 — New share repurchase programme of up to 15 million dollars as a second route of capital return alongside the reduced dividend. Through 2025-Q3 about 600,000 shares for roughly 3 million dollars, a fifth of the authorisation; in 2025-Q4 the same figure stood for the full year and in 2026-Q1 the programme was no longer mentioned. Formally open, effectively dormant. It was, however, explicitly announced as a board-approved case-by-case buyback rather than a rolling programme. open
- 2025-Q2 — Financings for Strategic Spirit and Strategic Vision totalling 18 million dollars will close in August and September 2025. Confirmed on the 2025-Q3 call as closed in July and September, with the 18 million dollars received as announced. kept
- 2025-Q4 — The new port sites Aransas, Lake Charles, Tampa and Pascagoula are to contribute roughly 3 million dollars of incremental EBITDA in 2026. In 2026-Q1 the company reported its second consecutive record quarter in ports. The 200,000 to 300,000 dollars quoted there refer only to the extra income from an unusually busy dry bulk quarter at Port Everglades, not to the contribution of the new sites; a slight decline is expected for 2026-Q2 and a return to the 2026-Q1 level thereafter. Proof of the 3 million dollars is outstanding, as Tampa only starts in June 2026. open
Based on public earnings call transcripts. Reviewed: 9 transcripts 2023-Q4 through 2026-Q1.
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -3.3%
- More than 10% revenue growth is expected for the coming year -6.0%
- Share count grows by less than 3% a year 12.8%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 25.3%
- Gross margin at 40% or higher and without meaningful erosion 10.9%
- Goodwill from acquisitions does not grow faster than revenue 0.3%
- Net debt below twice EBITDA 3.1 x EBITDA
- Operating cash flow covers the profits of the last three years 99 m
- Return on capital at 15% or higher, or up versus two years ago 4.7%
- Insiders hold at least 10% or are net buyers 51.2%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
6/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 11.5%
- Exp. sales growth 3Y > 5% 8.4%
- EBIT growth 10Y > 5% 12.7%
- Exp. EBIT growth 3Y > 5% 91.7%
- Net debt < 4x EBIT 7.1x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 64.0%
- Return on equity > 15% 4.6%
- ROCE > 15% 4.7%
- Expected return > 10% 108.1%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
The company
About the Company
Pangaea Logistics Solutions Ltd. bietet zusammen mit seinen Tochtergesellschaften weltweit Logistik- und Transportdienstleistungen für Seetransport von Trockenmassengütern für Industriekunden an.
- Employees
- 170
- Headquarters
- Newport, RI
- Address
- 109 Long Wharf, 02840 Newport, United States
- Phone
- 401 846 7790
- Website
- pangaeals.com
- IPO Date
- 12/19/2013
- ISIN
- BMG6891L1054
Management
| Name | Title | Birth Year |
|---|---|---|
| Mads Rosenberg Boye Petersen | President, CEO & Director | 1980 |
| Gianni Del Signore | CFO & Secretary | 1983 |
| Daniel Schildt | Chief Strategy Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/10/2026 Pangaea Logistics Solutions Ltd. (PANL): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.