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Icon Energy Corp. (ICON)
NASDAQ:ICON
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Icon Energy Corp.
(NASDAQ:ICON)
55Neutral
Positive Factors
Dividend
Icon increased its quarterly dividend by 6.3%, representing an annualized yield of 15.2%.
Market Demand
Rising iron ore production and demand from China are expected to support shipping rates, benefiting Icon.
Negative Factors
Financial Performance
Icon's 3Q24 revenue of $0.9M was below the $1.5M estimate due to lower TCE rates.
Icon Energy Corp. (ICON) vs. S&P 500 (SPY)
Market Cap
N/A
Dividend YieldN/A
Average Volume (3M)13.74M
Price to Earnings (P/E)―
Beta (1Y)1.12
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
EmployeesN/A
SectorEnergy
Sector Strength73
IndustryTransportation
Share Statistics
EPS (TTM)N/A
Shares Outstanding28,887,463
10 Day Avg. Volume30,946,667
30 Day Avg. Volume13,743,506
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.13
Price to Cash Flow (P/CF)0.10
P/FCF Ratio0.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$1.25Price Target Upside941.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Icon Energy Corp. Business Overview & Revenue Model
Company DescriptionIcon Energy is an international shipping company that was recently incorporated in the Republic of the Marshall Islands for the purpose of acquiring, owning, chartering and operating dry bulk vessels. We provide worldwide seaborne transportation services for dry bulk cargo, including major bulks such as iron ore, coal, grains and bauxite, and minor bulks such as steel, sugar, fertilizers, cement and scrap metal. Upon completion of this offering, we will own one Panamax dry bulk vessel with a carrying capacity of approximately 77,326 dwt, which was built in Japan in 2006.
How the Company Makes Money
Icon Energy Corp. Financial Statement Overview
Summary
Icon Energy Corp.'s financial statements reflect a company that has successfully managed to stabilize its operations after significant revenue declines. Despite a shrinking asset base, the company has maintained profitability and improved its financial health with no debt and positive equity. However, growth prospects remain a concern due to the sharp revenue drop.Income Statement
Icon Energy Corp. has shown a significant decline in revenue from $148.98 million in 2019 to $4.48 million in 2023, indicating a severe contraction in business scale. However, the company has improved its net profitability with a net income margin of 25.8% in 2023 compared to large losses in prior years. The gross profit margin remains high at 73.2% for 2023, reflecting efficient cost management.60
Neutral
Balance Sheet
The balance sheet demonstrates strong liquidity with no debt and a positive cash position of $2.70 million in 2023. The equity ratio improved to 71.2% in 2023, from negative equity in previous years, suggesting enhanced financial stability. However, total assets have decreased, indicating potential divestments or asset write-downs.70
Positive
Cash Flow
Icon Energy Corp. has maintained positive free cash flow of $2.48 million in 2023 despite reduced revenue, highlighting effective cash management. The operating cash flow to net income ratio stands at 2.17, showing robust cash generation relative to earnings. However, there is a noticeable drop in free cash flow growth from previous years.65
Positive
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 2.09M | 4.48M | 7.24M | 5.96M | 0.00 | 148.98M | Gross Profit |
| 707.00K | 3.28M | 5.93M | 5.11M | 0.00 | 148.98M | EBIT |
| 0.00 | 1.10M | 4.22M | 3.31M | -30.78M | 63.17M | EBITDA |
| 299.00K | 2.19M | 5.29M | 3.86M | -24.94M | -44.35M | Net Income Common Stockholders |
| -22.00K | 1.16M | 4.24M | 3.32M | -101.92M | -111.51M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 66.61M | 2.70M | 3.55M | 2.42M | 65.54M | 55.47M | Total Assets |
| 632.08M | 12.88M | 14.60M | 14.57M | 372.92M | 506.06M | Total Debt |
| 675.23M | 0.00 | 0.00 | 0.00 | 56.87M | 645.72M | Net Debt |
| 608.62M | -2.70M | -3.55M | -2.42M | 7.07M | 590.26M | Total Liabilities |
| 777.81M | 3.71M | 276.00K | 1.85M | 637.00M | 762.42M | Stockholders Equity |
| -111.60M | 9.17M | 14.32M | 12.72M | -224.27M | -221.90M |
| Cash Flow | Free Cash Flow | ||||
| 581.00K | 2.48M | 3.76M | 3.59M | 19.82M | 23.68M | Operating Cash Flow |
| 603.00K | 2.50M | 3.99M | 4.08M | 20.42M | 30.31M | Investing Cash Flow |
| -18.03M | -22.00K | -225.00K | -491.00K | 77.14M | 12.07M | Financing Cash Flow |
| 19.69M | -3.33M | -2.64M | -1.17M | -110.34M | -53.84M |
Icon Energy Corp. Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $22.20B | 7.61 | 21.77% | 4.24% | 3.00% | -21.63% | |
76 Outperform | $69.73B | 11.13 | 22.29% | 2.94% | 0.88% | -13.66% | |
68 Neutral | $6.92B | 8.27 | 20.26% | 5.31% | 17.61% | -75.78% | |
57 Neutral | $8.36B | 5.49 | -6.03% | 7.47% | 0.03% | -68.65% | |
55 Neutral | ― | 12.60% | ― | ― | ― |
* Energy Sector Average
Performance Comparison
ICON
Icon Energy Corp.
0.12
-3.16
-96.34%
APA
APA
19.20
-11.12
-36.68%
DVN
Devon Energy
34.41
-10.59
-23.53%
EOG
EOG Resources
124.49
6.98
5.94%
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.