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Pangaea Logistics Solutions Ltd.

CIK: 1606909 SIC: 4412
$632.04M
Revenue
$19.37M
Net Income
-
Gross Margin
6.48%
Op. Margin
$59.41M
Free Cash Flow
Financial Statements Annual (10-K)
Showing 12 of 12 annual reports available (2014 - 2025)
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
FY 2015
(Dec 31, 2015)
FY 2014
(Dec 31, 2014)
+ Total Revenue $632.04M $632.04M $536.54M $499.27M $699.71M $718.10M $382.90M $412.20M $372.97M $385.09M $238.02M $287.33M $398.28M
Revenue Growth % 0.0% 17.8% 7.5% -28.6% -2.6% 87.5% -7.1% 10.5% -3.1% 61.8% -17.2% -27.9% nan%
Operating Expenses $591.10M $591.10M $488.09M $454.65M $594.20M $639.23M $363.20M $388.94M $336.90M $369.92M $225.12M $266.81M $400.77M
+ Operating Income $40.94M $40.94M $48.45M $44.62M $105.51M $78.87M $19.70M $23.26M $36.07M $15.17M $12.89M $20.53M $-2.49M
Operating Margin % 6.5% 6.5% 9.0% 8.9% 15.1% 11.0% 5.1% 5.6% 9.7% 3.9% 5.4% 7.1% -0.6%
Interest Expense - $24.01M $17.07M $17.03M $14.77M $10.33M $7.83M $9.23M $8.69M $7.95M $5.42M $5.42M $5.64M
Other Income/Expense $2.95M $2.95M $1.43M $761.49K $807.14K $1.13M $982.35K $314.85K $677.09K $-6.07M $-3.73M $-7.16M $-11.15M
Income Tax Expense - $366.00K $389.00K - - - - - - - - - -
+ Net Income $19.37M $19.37M $28.90M $26.32M $79.49M $67.23M $11.35M $11.66M $17.76M $7.81M $7.46M $11.28M $-12.13M
Net Margin % 3.1% 3.1% 5.4% 5.3% 11.4% 9.4% 3.0% 2.8% 4.8% 2.0% 3.1% 3.9% -3.0%
Basic EPS nan 0.30 0.64 0.59 1.79 1.53 0.26 0.27 0.42 0.20 0.21 0.32 -1.61
Diluted EPS nan 0.30 0.63 0.58 1.76 1.50 0.26 0.27 0.42 0.20 0.21 0.32 -1.61
Basic Shares Outstanding -98K 63.8M 45.4M 44.8M 44.4M 44.0M 43.4M 42.8M 42.2M 38.4M 35.2M 34.8M 18.7M
Diluted Shares Outstanding -306K 64.7M 46.0M 45.5M 45.1M 44.8M 43.8M 43.3M 42.8M 38.9M 35.4M 35.0M 18.7M
Breakdown FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
FY 2015
(Dec 31, 2015)
FY 2014
(Dec 31, 2014)
Cash & Cash Equivalents $103.05M $86.81M $99.04M $128.38M $56.21M $46.90M $50.56M $53.61M $34.53M $22.32M $37.52M $29.82M
Accounts Receivable $55.85M $42.37M $47.89M $36.76M $54.26M $29.15M $28.31M $28.48M $21.09M $20.48M $19.62M $27.36M
Inventory $28.39M $32.85M $16.56M $29.10M $27.15M $15.97M $21.00M $19.22M $15.36M $13.20M $7.49M $15.60M
Other Current Assets $4.89M $4.44M $28.34M $28.27M $46.35M $19.52M $18.77M $12.19M $12.03M $6.44M $2.68M $6.57M
Total Current Assets $215.78M $191.99M $191.83M $222.51M $183.96M $113.03M $126.96M $113.51M $83.01M $68.54M $69.31M $84.87M
Property Plant & Equipment $677.52M $707.83M $474.27M $476.52M $471.91M $276.74M $281.47M $281.89M $306.29M $275.27M $255.15M $207.67M
Goodwill $3.10M $3.10M $3.10M - - - - - - - - -
Intangible Assets $1.68M - - - - - - - - - - -
Other Non-current Assets $4.56M $4.76M $5.59M $5.28M $3.96M $1.69M - - - - - $1.45M
Total Assets $928.10M $936.46M $705.18M $748.24M $707.02M $450.40M $479.90M $453.47M $423.30M $362.19M $366.96M $332.46M
Accounts Payable $14.33M $14.82M - - - - - - - - - -
Deferred Revenue $24.89M $15.45M $15.63M $20.88M $32.21M $12.80M $14.38M $14.72M $5.82M $6.42M $4.45M $11.75M
Total Current Liabilities $128.03M $109.11M $105.33M $92.21M $111.74M $110.81M $90.85M $79.05M $70.01M $77.88M $72.15M $144.69M
Long-term Debt $114.07M $129.30M - - - - - - - - - -
Other Non-current Liabilities - - $17.94M $19.97M $17.81M $10.14M $4.83M - - - - -
Common Stock $7.00K $6.50K $4.65K $4.59K $4.56K $4.54K $4.49K $4.40K $4.38K $3.66K $3.65K $3.48K
Retained Earnings $172.25M $169.16M $159.03M $151.33M $85.66M $23.18M $12.74M $5.74M $-9.60M $-17.41M $-24.87M $-36.14M
Total Stockholders Equity $429.33M $427.82M $323.89M $314.23M $247.20M $182.77M $170.25M $161.69M $145.35M $116.27M $108.21M $97.82M
Total Liabilities & Equity $928.10M $936.46M $705.18M $748.24M $707.02M $450.40M $479.90M $453.47M $423.30M $362.19M $366.96M $332.46M
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
FY 2015
(Dec 31, 2015)
FY 2014
(Dec 31, 2014)
Net Income $19.37M $19.37M $28.90M $26.32M $79.49M $67.23M $11.35M $11.66M $17.76M $7.81M $7.46M $11.28M $-12.13M
Depreciation & Amortization $72.92M $42.48M $30.38M $30.07M $29.49M $22.97M $17.06M $18.53M $17.62M $15.61M $14.11M $12.73M $11.67M
Stock-based Compensation $7.72M $4.11M $2.79M $2.09M $1.77M $2.10M $2.31M $1.74M $1.20M $1.07M $601.92K $457.07K $1.82K
Change in Receivables $29.75M $15.02M $-3.69M $14.08M $-15.13M $26.67M $995.17K $725.97K $7.66M $5.64M $1.78M $-6.77M $-14.56M
Change in Inventory $4.46M $-4.46M $11.03M $-12.55M $1.96M $11.18M $-5.03M $2.43M $3.87M $2.15M $5.71M $-8.11M $-5.47M
Operating Cash Flow $59.41M $53.73M $65.69M $53.79M $134.80M $61.75M $20.84M $44.46M $40.13M $29.22M - - -
Acquisitions - - - $7.20M - - - - - - - - -
Investing Cash Flow $8.54M $11.41M $-67.69M $-15.98M $-28.51M $-197.79M $-6.89M $-46.60M $-17.51M $-64.55M - - -
Debt Repayment - - - - - - - - $21.06M $25.33M $23.72M $22.55M $30.05M
Stock Issued - - - - - - - - $-50.81K $9.63M - - -
Dividends Paid $32.91M $16.30M $18.71M $18.10M $13.41M $5.54M $535.15K $8.09M $2.27M $1.00M $100.00K $100.00K $100.00K
Financing Cash Flow $-101.84M $-48.62M $-10.23M $-67.15M $-34.12M $143.86M $-18.61M $-916.13K $-5.04M $45.44M - - -
Net Change in Cash $-33.89M $16.52M $-12.23M $-29.35M $72.18M $7.81M $-4.66M $-3.06M $17.58M $10.11M $-15.20M $7.70M $10.89M
SEC Filing Format - Data shown as it appears in the Q3 2025 (10-Q) filing Period ended: Sep 30, 2025
Condensed Consolidated Statements of Operations
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Total Revenue $168.67M $153.12M $448.16M $389.36M
Operating Expenses $151.75M $138.11M $424.66M $355.72M
Operating Income $16.92M $15.00M $23.50M $33.64M
Other Income/Expense $954.49K $551.02K $1.83M $1.23M
Net Income $12.21M $5.11M $7.49M $20.47M
Basic EPS 0.19 0.11 0.12 0.45
Diluted EPS 0.19 0.11 0.12 0.45
Basic Shares Outstanding $63.73M $45.28M $63.90M $45.26M
Diluted Shares Outstanding $64.82M $46.01M $65.01M $45.95M
Condensed Consolidated Balance Sheets
Description Sep 30, 2025 Dec 31, 2024
Cash & Cash Equivalents $94.02M $86.81M
Accounts Receivable $45.57M $42.37M
Inventory $36.14M $32.85M
Other Current Assets $30.26M $29.97M
Total Current Assets $212.62M $191.99M
Property Plant & Equipment $683.94M $707.83M
Goodwill $3.10M $3.10M
Other Non-current Assets $4.80M $4.76M
Total Assets $932.15M $936.46M
Deferred Revenue $18.29M $15.45M
Total Current Liabilities $130.93M $109.11M
Common Stock $6.52K $6.50K
Retained Earnings $163.59M $169.16M
Total Stockholders Equity $420.26M $427.82M
Total Liabilities & Equity $932.15M $936.46M
Condensed Consolidated Statements of Cash Flows
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Net Income $12.21M $5.11M $7.49M $20.47M
Depreciation & Amortization - - $30.73M $22.61M
Stock-based Compensation - - $2.70M $2.31M
Change in Receivables - - $4.37M $-2.56M
Change in Inventory - - $3.29M $10.19M
Operating Cash Flow - - $38.60M $46.41M
Investing Cash Flow - - $1.91M $-57.35M
Dividends Paid $13.10M - $13.13M $13.94M
Financing Cash Flow - - $-33.03M $5.03M
Net Change in Cash - - $7.48M $-5.92M

All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-K filings.

Annual data represents full fiscal year results. FY = Fiscal Year ending.

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