Pangaea Logistics Solutions (PANL)
NASDAQ:PANL
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Pangaea Logistics Solutions
(NASDAQ:PANL)
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Rating:62Neutral
Price Target:
$7.50
â–¼(-5.06% Downside)
Action:ReiteratedDate:04/01/26
The score is driven primarily by stable-but-cyclical financial performance (strong recent free cash flow and manageable leverage, but weaker margins and inconsistent cash conversion). Technicals are a near-term drag (negative MACD and price below key moving averages). Valuation (low P/E and dividend yield) and a generally constructive earnings call partially offset, though cost and interest headwinds remain key risks.
Positive Factors
Strong cash generation & liquidity
Sustained positive free cash flow (~$48M TTM) combined with ~ $103M unrestricted cash and quarterly cash from operations provides durable liquidity to fund dividends, modest buybacks, fleet renewal and terminal investments while buffering cyclicality in shipping markets.
Negative Factors
Compressed profitability & margins
A sharp drop in net margin signals reduced ability to convert revenue into shareholder returns; persistent margin compression will weaken ROE, reduce reinvestment capacity and leave less buffer against cost shocks in this cyclical industry.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation & liquidity
Sustained positive free cash flow (~$48M TTM) combined with ~ $103M unrestricted cash and quarterly cash from operations provides durable liquidity to fund dividends, modest buybacks, fleet renewal and terminal investments while buffering cyclicality in shipping markets.
Read all positive factors
Pangaea Logistics Solutions (PANL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$500.34M
Dividend Yield3.57%
Average Volume (3M)650.76K
Price to Earnings (P/E)22.7
Beta (1Y)1.00
Revenue Growth14.21%
EPS Growth-36.71%
CountryUS
Employees170
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.16
Shares Outstanding65,318,650
10 Day Avg. Volume431,960
30 Day Avg. Volume650,760
Financial Highlights & Ratios
PEG Ratio-0.43
Price to Book (P/B)1.02
Price to Sales (P/S)0.69
P/FCF Ratio8.54
Enterprise Value/Market Cap1.57
Enterprise Value/Revenue1.24
Enterprise Value/Gross Profit11.38
Enterprise Value/Ebitda7.30
Forecast
1Y Price Target
$10.88Price Target Upside37.72% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.05
Revenue Forecast (FY)$755.36M
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...
How the Company Makes Money
Pangaea primarily makes money by providing ocean transportation and logistics services for bulk cargoes. Its core revenue is generated from shipping contracts in which it either (a) uses vessels it owns/controls or (b) charters tonnage from third ...
Pangaea Logistics Solutions Earnings Call Summary
Earnings Call Date:Mar 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call presented a generally constructive operational and strategic picture: strong TCE premiums, meaningful adjusted EBITDA growth and margin expansion, healthy bookings into 2026, solid cash balances and clear progress expanding the integrated logistics platform and fleet renewal. Offsetting these positives are material near‑term cost pressures—higher charter‑in rates, a sharp rise in vessel operating expenses following the SSI acquisition, increased interest expense and integration/start‑up costs—and ongoing exposure to fuel price volatility and geopolitical uncertainty. On balance, the business showed momentum and financial flexibility, while management emphasized disciplined capital allocation and targeted EBITDA contributions from terminals in 2026.Positive Updates
TCE Premiums Above Market
Fourth quarter TCE rates of $17,773 per day, representing a 19% premium to average published market rates for Panamax, Supramax and Handysize vessels, driven by niche ice‑class capabilities and long‑term COAs.
Negative Updates
Higher Charter‑In Costs
Total charter hire expenses increased ~36% year‑over‑year; charter‑in cost on a per‑day basis ~ $19,100 in Q4 2025, up ~39% year‑over‑year, reflecting higher market rates for Panamax, Supramax and Handysize vessels.
Read all updates
Q4-2025 Updates
Positive
Negative
TCE Premiums Above Market
Fourth quarter TCE rates of $17,773 per day, representing a 19% premium to average published market rates for Panamax, Supramax and Handysize vessels, driven by niche ice‑class capabilities and long‑term COAs.
Read all positive updates
Company Guidance
Management's guidance emphasized a constructive near-term outlook and unchanged priorities of fleet renewal, organic growth, balance-sheet strength and shareholder returns, noting bookings to start 2026 of 5,920 shipping days at a TCE of $14,917/day (per management) and 2,543 Q1 days at $14,390/day (per the CFO), an expected incremental EBITDA contribution of about $3.0M from terminals in 2026, continued buybacks/dividends after repurchasing ~600,000 shares for ~$3M in 2025 and paying ~$16.3M in dividends (plus a $0.05/share dividend payable Mar 13, 2026), and a strong liquidity position with roughly $103M unrestricted cash against total debt of ~$372M; recent operating metrics cited include Q4 adjusted EBITDA of ~$28.7–29.0M (up ~22% YoY) with a 17% adjusted EBITDA margin (vs 13% prior year), Q4 TCE of $17,773/day (a 19% premium), charter‑in cost of ~ $19,100/day, FY2025 vessel opex of $5,932/day, Q4 GAAP net income of $11.9M ($0.19/sh) and adjusted net income of $10.1M ($0.16/sh), ~$50M cash from operations, and Q4 net interest expense of ~$5.4M.Pangaea Logistics Solutions Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 632.04M | 536.54M | 499.27M | 699.71M | 718.10M |
| Gross Profit | 69.02M | 73.08M | 69.14M | 128.94M | 97.84M |
| EBITDA | 80.42M | 82.32M | 76.10M | 137.42M | 106.86M |
| Net Income | 19.37M | 28.90M | 26.32M | 79.49M | 67.23M |
Balance Sheet | |||||
| Total Assets | 928.10M | 936.46M | 705.18M | 748.24M | 707.02M |
| Cash, Cash Equivalents and Short-Term Investments | 103.05M | 86.81M | 99.04M | 128.38M | 56.21M |
| Total Debt | 372.21M | 397.37M | 264.44M | 299.48M | 306.96M |
| Total Liabilities | 453.36M | 461.79M | 334.98M | 379.52M | 406.34M |
| Stockholders Equity | 429.33M | 427.82M | 323.89M | 314.23M | 247.20M |
Cash Flow | |||||
| Free Cash Flow | 51.38M | -3.74M | 26.52M | 98.41M | -134.91M |
| Operating Cash Flow | 57.86M | 65.69M | 53.79M | 134.80M | 61.75M |
| Investing Cash Flow | 7.28M | -67.69M | -15.98M | -28.51M | -197.79M |
| Financing Cash Flow | -48.62M | -10.23M | -67.15M | -34.12M | 143.86M |
Pangaea Logistics Solutions Technical Analysis
Positive
7.90
Price Trends
7.94
Negative
7.59
Positive
6.36
Positive
Market Momentum
0.01
Negative
60.08
Neutral
96.93
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 7.9 is above the 20-day moving average (MA) of 7.25, below the 50-day MA of 7.94, and above the 200-day MA of 6.36, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 60.08 is Neutral, neither overbought nor oversold. The STOCH value of 96.93 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PANL.
Pangaea Logistics Solutions Risk Analysis
Pangaea Logistics Solutions disclosed 63 risk factors in its most recent earnings report. Pangaea Logistics Solutions 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
Pangaea Logistics Solutions Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $499.84M | 2.77 | 32.77% | 4.95% | 7.26% | 6.60% | |
69 Neutral | $631.22M | 11.54 | 6.37% | 2.80% | -26.81% | -78.30% | |
66 Neutral | $665.61M | 12.88 | 4.68% | 4.16% | -13.74% | -59.37% | |
66 Neutral | $307.63M | 3.91 | 7.83% | 4.94% | -8.99% | -68.66% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $500.34M | 22.66 | 4.60% | 3.57% | 14.21% | -36.71% | |
55 Neutral | $311.32M | 15.21 | 3.60% | 2.34% | -5.45% | 139.59% |
* Industrials Sector Average
PANL
Pangaea Logistics Solutions
7.90
3.78
91.70%
DSX
Diana Shipping
2.57
1.11
76.39%
ESEA
Euroseas
72.18
44.13
157.32%
SB
Safe Bulkers
6.64
3.48
109.93%
SHIP
Seanergy Maritime
14.69
9.45
180.56%
ASC
Ardmore Shipping
15.89
6.90
76.71%
Pangaea Logistics Solutions Corporate Events
Dividends
Pangaea Logistics Declares Quarterly Cash Dividend for Shareholders
Positive
Feb 17, 2026
On February 17, 2026, Pangaea Logistics Solutions Ltd. announced that its board had declared a quarterly cash dividend of $0.05 per common share. The dividend will be paid on March 13, 2026, to shareholders of record as of February 27, 2026, under...
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.