Pangaea Logistics Solutions (PANL) AI Stock Analysis

• Market Cap: $602.31M
• Dividend Yield: 3.57%
• Average Volume (3M): 757.15K
• Price to Earnings (P/E): 31.3
• Beta (1Y): 0.92
• Revenue Growth: 14.21%
• EPS Growth: -36.71%
• Country: US
• Employees: 170
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): 0.17
• Shares Outstanding: 64,973,690
• 10 Day Avg. Volume: 552,138
• 30 Day Avg. Volume: 757,152
• PEG Ratio: 0.99
• Price to Book (P/B): 0.57
• Price to Sales (P/S): 0.45
• P/FCF Ratio: -65.03
• Enterprise Value/Market Cap: 1.49
• Enterprise Value/Revenue: 1.51
• Enterprise Value/Gross Profit: 11.41
• Enterprise Value/Ebitda: 8.51
• 1Y Price Target: $11.50
• Price Target Upside: 24.06% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 1.12
• Revenue Forecast (FY): $504.28M

• Rating: 64 Neutral
• Price Target: $9.00 ▼(-2.91% Downside)
• Action: Reiterated Date: 01/23/26
• Date: Action: Reiterated 01/23/26

Overall score reflects a strong balance sheet and supportive operating/booking commentary from the earnings call, alongside a favorable price trend. These positives are tempered by sharply weaker margins and notably weak cash flow generation, while valuation appears only fair (P/E ~24) despite a ~3% dividend.

Positive Factors

Low leverage and solid equity base

Very low debt-to-equity indicates durable financial flexibility, reducing refinancing and interest rate vulnerability. Combined with reported unrestricted cash, this footing supports capital allocation for fleet renewal, port investments, dividends, or opportunistic M&A without forcing distressed asset sales.

Above-market TCE rates and higher utilization

Consistently securing TCEs above market and materially increasing shipping days reflects pricing power and stronger commercial placement. Higher utilization and premium rates tend to persist via contract mix and customer relationships, supporting sustainable EBITDA generation and fleet revenue resilience.

Strategic partnership and board enhancement

A formal cooperation agreement and experienced industry directors strengthen governance, provide access to strategic shipping expertise and potential commercial synergies. This structural support can improve long-term strategy execution, capital access and operational integration for fleet and service growth.

Negative Factors

Weak operating cash conversion

Severely weakened free cash flow and low OCF/NI show poor cash conversion, limiting ability to self-fund vessel renewals, port investments or dividends without external financing. Persistent cash shortfalls elevate refinancing and liquidity risk during cyclical shipping downturns.

Material margin compression

Sharp decline in gross and net margins signals structural pressure from higher voyage and operating costs or adverse rate mix. Lower profitability reduces internal reinvestment capacity, increases sensitivity to rate volatility, and narrows the buffer against cyclical shipping shocks.

Rising operating, G&A and interest costs

Higher vessel OPEX, expanded loan days and added finance costs from acquisitions raise the company's structural cost base. Coupled with reported interest and G&A increases plus port expansion delays, this erodes margin recovery potential and heightens execution and integration risk.

Pangaea Logistics Solutions Business Overview & Revenue Model

Company Description

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. Its ocean logistics services comprise cargo loading, cargo discharge, vessel chartering, voyage planning, and technical vessel management. As of March 16, 2022, the company owned and operated a fleet of 25 vessels. Pangaea Logistics Solutions, Ltd. was founded in 1996 and is based in Newport, Rhode Island.

How the Company Makes Money

Pangaea Logistics Solutions generates revenue primarily through its shipping and logistics services. Key revenue streams include freight charges for the transportation of bulk commodities, chartering of vessels to third parties, and logistics management fees. The company also benefits from long-term contracts with clients, ensuring a steady flow of income. Additionally, Pangaea may engage in strategic partnerships with other logistics firms and commodity producers, enhancing its operational capabilities and market reach. The combination of these factors contributes to its overall earnings and financial stability.

Pangaea Logistics Solutions Financial Statement Overview

Summary

Financials are mixed: the balance sheet is solid with very low leverage (debt-to-equity ~0.046), but profitability has weakened materially (gross margin down to ~3.54%, net margin to ~2.67%). Cash flow is a key concern, with sharply negative free cash flow growth and operating cash flow not fully covering net income (OCF/NI ~0.44).

Income Statement

Pangaea Logistics Solutions shows a mixed performance in its income statement. The TTM data indicates a slight revenue growth of 2.68%, but gross and net profit margins have significantly decreased compared to the previous year. The gross profit margin dropped from 13.62% to 3.54%, and the net profit margin fell from 5.39% to 2.67%. This decline in profitability is concerning, although the company maintains a positive EBIT margin of 3.95% and EBITDA margin of 7.45%.

Balance Sheet

The balance sheet reflects a strong equity position with a low debt-to-equity ratio of 0.046 in the TTM period, indicating reduced leverage compared to previous years. The return on equity has decreased to 3.78%, which is lower than the previous year, suggesting reduced profitability on equity. However, the equity ratio remains stable, showing a solid financial foundation.

Cash Flow

The cash flow statement reveals challenges, with a significant decline in free cash flow growth at -1228.89% in the TTM period. The operating cash flow to net income ratio is 0.44, indicating that operating cash flow is not fully covering net income. The free cash flow to net income ratio is 0.80, showing some ability to generate cash relative to net income, but the overall cash flow position is weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	595.34M	536.54M	499.27M	699.71M	718.10M	382.90M
Gross Profit	78.53M	73.08M	69.14M	128.94M	97.84M	38.14M
EBITDA	105.27M	82.32M	76.10M	137.42M	106.86M	37.58M
Net Income	15.92M	28.90M	26.32M	79.49M	67.23M	11.35M
Balance Sheet
Total Assets	932.15M	936.46M	705.18M	748.24M	707.02M	450.40M
Cash, Cash Equivalents and Short-Term Investments	94.02M	86.81M	99.04M	128.38M	56.21M	46.90M
Total Debt	382.64M	397.37M	264.44M	299.48M	306.96M	159.63M
Total Liabilities	466.59M	461.79M	334.98M	379.52M	406.34M	215.97M
Stockholders Equity	420.26M	427.82M	323.89M	314.23M	247.20M	182.77M
Cash Flow
Free Cash Flow	40.64M	-3.74M	26.52M	98.41M	-134.91M	17.91M
Operating Cash Flow	57.88M	65.69M	53.79M	134.80M	61.75M	20.84M
Investing Cash Flow	-8.43M	-67.69M	-15.98M	-28.51M	-197.79M	-6.89M
Financing Cash Flow	-48.28M	-10.23M	-67.15M	-34.12M	143.86M	-18.61M

Pangaea Logistics Solutions Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 9.27
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PANL, the sentiment is Positive. The current price of 9.27 is above the 20-day moving average (MA) of 8.79, above the 50-day MA of 7.81, and above the 200-day MA of 5.86, indicating a bullish trend. The MACD of 0.41 indicates Positive momentum. The RSI at 64.08 is Neutral, neither overbought nor oversold. The STOCH value of 85.31 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PANL.

Pangaea Logistics Solutions Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ESEA	80 Outperform	$437.35M	3.60	33.15%	4.95%	7.26%	6.60%
SB	72 Outperform	$649.79M	21.41	4.64%	4.16%	-13.74%	-59.37%
ASC	69 Neutral	$622.76M	17.42	6.46%	2.80%	-26.81%	-78.30%
SHIP	66 Neutral	$299.40M	14.04	7.65%	4.94%	-8.99%	-68.66%
PANL	64 Neutral	$602.31M	31.34	4.23%	3.57%	14.21%	-36.71%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
DSX	60 Neutral	$295.22M	15.64	4.91%	2.34%	-5.45%	139.59%

Pangaea Logistics Solutions Corporate Events

Pangaea Logistics appoints Eugene Davis to board

On December 18, 2025, Pangaea Logistics Solutions announced that Christina Tan resigned from its Board of Directors and was immediately succeeded by veteran corporate adviser Eugene I. Davis as a Class II director, under nomination rights held by shareholder Strategic Shipping Inc. The Nasdaq-listed dry bulk logistics specialist emphasized that Tan’s departure did not stem from any dispute and that Davis, deemed an independent director, brings four decades of experience in shareholder value creation and corporate strategy, currently chairing PIRINATE Consulting Group and holding senior board and audit roles at WW International and Spirit Aviation Holdings. His appointment, in line with an existing investor rights agreement and accompanied by standard non-employee director compensation, signals a continued focus on governance, strategic refinement and long-term shareholder returns while maintaining the influence of Strategic Shipping Inc. on Pangaea’s board composition.

The most recent analyst rating on (PANL) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on Pangaea Logistics Solutions stock, see the PANL Stock Forecast page.

Pangaea Logistics Appoints New Director Amid Strategic Deal

On November 26, 2025, Pangaea Logistics Solutions Ltd. entered into a cooperation agreement with Strategic Shipping Inc., which included appointing Paul M. Leand, Jr. as a Class III director on the Board, effective immediately. This strategic move aims to leverage Mr. Leand’s extensive experience in the maritime shipping industry to enhance the Board’s capabilities and reinforce the company’s commitment to shareholder value creation. The agreement also includes customary standstill restrictions and voting commitments, positioning Pangaea to strengthen its industry standing and operational momentum.

The most recent analyst rating on (PANL) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Pangaea Logistics Solutions stock, see the PANL Stock Forecast page.