Want to see ICON full AI Analyst Report?
Top Page
Icon Energy Corp.
(NASDAQ:ICON)
Select Model
Select Model
Rating:40Underperform
Price Target:
$1.00
▼(-6.54% Downside)
Action:Downgraded
Date:03/21/26
The score is primarily pressured by weak financial performance: a large net loss, materially negative free cash flow, and rapidly rising leverage. Technicals also remain bearish with the stock far below major moving averages and negative MACD, partially offset by oversold readings. Valuation provides limited support due to a negative P/E and dividend yield that appears unreliable in the context of losses and cash-flow strain.
Positive Factors
Contracted Revenue via Index‑linked Charters
Maintaining all three vessels on index‑linked time charters provides structural revenue visibility and lets Icon capture freight upside when markets firm. Index linkage reduces direct oil price exposure, stabilizes cash flow profiles and supports more predictable near‑term charter income.
Negative Factors
Deteriorated Profitability
A swing to a sizeable net loss and sharply negative margins signals an unstable earnings base after prior profitable years. Sustained losses erode equity, limit reinvestment capacity, and make it harder to self‑fund fleet maintenance or expansion without recurring external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Contracted Revenue via Index‑linked Charters
Maintaining all three vessels on index‑linked time charters provides structural revenue visibility and lets Icon capture freight upside when markets firm. Index linkage reduces direct oil price exposure, stabilizes cash flow profiles and supports more predictable near‑term charter income.
Read all positive factors
Icon Energy Corp. (ICON) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.78M
Dividend Yield499.57%
Average Volume (3M)42.74K
Price to Earnings (P/E)―
Beta (1Y)1.75
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees1,000
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)N/A
Shares Outstanding3,632,713
10 Day Avg. Volume59,107
30 Day Avg. Volume42,736
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.19
Price to Sales (P/S)0.37
P/FCF Ratio-0.78
Enterprise Value/Market Cap6.80
Enterprise Value/Revenue1.92
Enterprise Value/Gross Profit6.79
Enterprise Value/Ebitda4.36
Forecast
1Y Price Target
$3.00Price Target Upside180.37% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Icon Energy Corp. Business Overview & Revenue Model
Company Description
Icon Energy Corp., a shipping firm founded in 2023, is headquartered in Athens, Greece. As a subsidiary of Atlantis Holding Corp., it specializes in the worldwide marine transport of dry bulk commodities. The company's operational fleet comprises ...
Icon Energy Corp. Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
34
Negative
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.38M | 11.26M | 5.31M | 4.48M | 7.24M | 5.96M |
| Gross Profit | 3.79M | 2.54M | 1.47M | 3.28M | 5.93M | 5.11M |
| EBITDA | 5.90M | 3.08M | 1.88M | 2.19M | 5.29M | 3.86M |
| Net Income | -803.00K | -4.20M | -210.00K | 1.16M | 4.24M | 3.32M |
Balance Sheet | ||||||
| Total Assets | 63.37M | 58.44M | 28.80M | 12.88M | 14.60M | 14.57M |
| Cash, Cash Equivalents and Short-Term Investments | 8.98M | 3.88M | 946.00K | 2.70M | 3.55M | 2.42M |
| Total Debt | 34.30M | 34.76M | 15.93M | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 35.76M | 37.07M | 17.05M | 3.71M | 276.00K | 1.85M |
| Stockholders Equity | 27.60M | 21.38M | 11.75M | 9.17M | 14.32M | 12.72M |
Cash Flow | ||||||
| Free Cash Flow | -3.03M | -5.29M | -17.16M | 2.48M | 3.76M | 3.59M |
| Operating Cash Flow | 305.00K | 799.00K | 864.00K | 2.50M | 3.99M | 4.08M |
| Investing Cash Flow | -3.34M | -6.09M | -18.02M | -22.00K | -225.00K | -491.00K |
| Financing Cash Flow | 4.49M | 8.42M | 15.90M | -3.33M | -2.64M | -1.17M |
Icon Energy Corp. Technical Analysis
Neutral
1.07
Price Trends
1.01
Positive
1.06
Negative
2.34
Negative
Market Momentum
0.01
Negative
51.42
Neutral
55.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICON, the sentiment is Neutral. The current price of 1.07 is above the 20-day moving average (MA) of 0.99, above the 50-day MA of 1.01, and below the 200-day MA of 2.34, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 51.42 is Neutral, neither overbought nor oversold. The STOCH value of 55.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ICON.
Icon Energy Corp. Risk Analysis
Icon Energy Corp. disclosed 35 risk factors in its most recent earnings report. Icon Energy Corp. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Icon Energy Corp. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $18.84M | 0.24 | 14.21% | ― | 24.97% | ― | |
66 Neutral | $184.17K | ― | 6.56% | ― | -1.35% | 61.46% | |
65 Neutral | $21.63M | 0.63 | 9.57% | ― | 34.61% | -41.81% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | $25.09M | -12.80 | -3.34% | 12.55% | -16.73% | 72.04% | |
40 Underperform | $3.78M | -0.32 | 12.60% | 499.57% | ― | ― |
* Industrials Sector Average
ICON
Icon Energy Corp.
1.02
-10.48
-91.13%
PSHG
Performance Shipping
1.73
-0.07
-3.89%
CTRM
Castor Maritime
2.09
-0.03
-1.42%
USEA
United Maritime Corp.
2.72
1.39
103.90%
CISS
C3is Inc.
0.10
-477.30
-99.98%
Icon Energy Corp. Corporate Events
Icon Energy Formalizes Long-Term Management Deal With Pavimar and Files Q1 2026 Results
Jun 9, 2026
Icon Energy Corp. filed unaudited interim condensed consolidated financial statements for the three months ended March 31, 2026, showing total assets of about $63.4 million, higher cash balances, and a modestly reduced long-term debt position comp...
Icon Energy Locks In Fixed Charter Rate for M/V Alfa Through Year-End 2026
Jun 3, 2026
On June 3, 2026, Icon Energy Corp. announced a commercial update centered on its Panamax vessel M/V Alfa, which is employed under a time charter to an international commodity trading conglomerate. The company exercised its option to switch Alfa fr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.