PANL Financials Pangaea Logistics Solutions Ltd.

13 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 34 d ago Overview →

Growth & profitability

Revenue has grown 10.5% per year over the past 5 years.
Net income has grown faster than revenue (11.3% vs 10.5% per year).
Operating margin has expanded, at 6.5% in the latest year.

Financial health

Total debt ($114M) exceeds cash ($103M); net debt is $11M.
Total debt has grown slower than revenue (1.6% vs 10.5% per year).
Total debt is 1.4× EBITDA.

Shareholder returns

Dividends have been paid for 13 consecutive years, consuming 84.2% of earnings.
The dividend has grown 98.0% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$632M	$19M	0.0%	6.5%	4.5%	2.1%	—	$114M	$103M
2024	$537M	$29M	0.0%	9.0%	6.8%	3.1%	—	$129M	$87M
2023	$499M	$26M	0.0%	8.9%	8.1%	3.7%	—	$99M	$99M
2022	$700M	$79M	0.0%	15.1%	25.3%	10.6%	—	$115M	$128M
2021	$718M	$67M	0.0%	11.0%	27.2%	9.5%	—	$121M	$56M
2020	$383M	$11M	0.0%	5.1%	6.2%	2.5%	—	$105M	$47M
2019	$412M	$12M	0.0%	5.6%	6.8%	2.4%	—	$107M	$51M
2018	$373M	$18M	0.0%	9.7%	11.0%	3.9%	—	$116M	$54M
2017	$386M	$8M	0.0%	4.2%	5.4%	1.8%	—	$137M	$35M
2016	—	$7M	—	—	6.4%	2.1%	—	$129M	$22M
2015	—	$11M	—	—	10.4%	3.1%	—	$151M	$38M
2014	—	-$12M	—	—	-12.4%	-3.7%	—	$106M	$30M
2013	—	$15M	—	—	-264.3%	4.7%	—	—	$38M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$187M	$10M	0.0%	11.4%	2.3%	1.1%	—	—	$106M
Mar '26	$171M	$13M	0.0%	6.1%	3.0%	1.4%	—	—	$90M
Dec '25	$184M	$12M	0.0%	9.5%	2.8%	1.3%	—	$114M	$103M
Sep '25	$169M	$12M	0.0%	10.0%	2.9%	1.3%	—	—	$94M
Jun '25	$157M	-$3M	0.0%	2.3%	-0.7%	-0.3%	—	—	$59M
Mar '25	$123M	-$2M	0.0%	2.4%	-0.5%	-0.2%	—	—	$64M
Dec '24	$147M	$8M	0.0%	10.1%	2.0%	0.9%	—	$129M	$87M
Sep '24	$153M	$5M	0.0%	9.8%	1.5%	0.7%	—	$134M	$93M
Jun '24	$131M	$4M	0.0%	5.8%	1.1%	0.5%	—	$91M	$78M
Mar '24	$105M	$12M	0.0%	10.5%	3.5%	1.7%	—	$96M	$96M
Dec '23	$132M	$1M	0.0%	8.0%	0.4%	0.2%	—	$99M	$99M
Sep '23	$136M	$19M	0.0%	14.5%	5.8%	2.6%	—	$102M	$87M
Jun '23	$118M	$3M	0.0%	6.7%	0.9%	0.4%	—	$106M	$84M
Mar '23	$114M	$3M	0.0%	5.7%	1.1%	0.5%	—	$109M	$129M
Dec '22	$128M	$16M	0.0%	14.6%	4.9%	2.1%	—	$115M	$128M
Sep '22	$185M	$19M	0.0%	16.5%	6.2%	2.5%	—	$109M	$118M
Jun '22	$196M	$25M	0.0%	18.6%	8.8%	3.3%	—	$112M	$102M
Mar '22	$192M	$20M	0.0%	10.4%	7.6%	2.8%	—	$118M	$70M
Dec '21	$235M	$15M	0.0%	13.1%	6.1%	2.1%	—	$121M	$56M
Sep '21	$213M	$27M	0.0%	12.0%	11.6%	4.1%	—	$124M	$49M

Valuation over time

How the market has priced PANL against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 4.8× (Mar '23) to 28.0× (Sep '26).
The price-to-sales ratio has risen from 0.5× (Mar '23) to 0.9× (Sep '26).
The dividend yield has fallen from 3.5% (Mar '23) to 3.0% (Sep '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is PANL growing its revenue and profit?

Over the past 5 years, Pangaea Logistics Solutions Ltd.'s revenue has grown 10.5% per year, and net income grown 11.3% per year. These are computed facts, not advice.

How much debt does PANL have?

As of FY2025, Pangaea Logistics Solutions Ltd. reported $114M of total debt against $103M of cash.

What is PANL's profit margin?

In FY2025, gross margin was —, operating margin 6.5%, and net margin 3.1%.

What is PANL's P/E ratio?

As of Sep '26, Pangaea Logistics Solutions Ltd. traded at a price-to-earnings ratio of about 28.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.