Pangaea Logistics Solutions (PANL) Financials

$4.17 +0.06 (+1.46%)

Closing price 05/2/2025 04:00 PM Eastern

Extended Trading

$4.20 +0.03 (+0.72%)

As of 05/2/2025 04:50 PM Eastern

Annual Income Statements for Pangaea Logistics Solutions

This table shows Pangaea Logistics Solutions' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	15	48	104	59	138	133	184	210	203	222
Consolidated Net Income / (Loss)	15	48	104	59	138	133	184	210	203	222
Net Income / (Loss) Continuing Operations	15	48	104	59	138	133	184	210	203	222
Total Pre-Tax Income	33	69	150	64	170	164	228	268	245	272
Total Operating Income	32	68	146	57	158	158	228	267	217	239
Total Gross Profit	122	173	281	194	330	343	439	489	441	499
Total Revenue	191	199	336	247	405	429	554	617	576	648
Operating Revenue	191	199	336	247	405	429	554	617	576	648
Total Cost of Revenue	69	26	55	54	75	85	115	128	135	148
Operating Cost of Revenue	69	26	55	54	75	85	115	128	135	148
Total Operating Expenses	90	104	135	137	171	186	211	222	224	260
Selling, General & Admin Expense	29	33	47	47	60	61	80	78	67	74
Research & Development Expense	45	43	49	54	71	84	100	117	130	157
Amortization Expense	11	16	22	22	22	22	22	17	16	18
Other Operating Expenses / (Income)	5.37	12	17	14	19	19	8.85	9.21	10	11
Total Other Income / (Expense), net	0.78	0.19	3.29	7.58	12	6.00	0.60	1.12	28	33
Interest & Investment Income	0.78	2.11	3.29	7.66	11	5.14	0.51	7.81	28	41
Other Income / (Expense), net	-	-1.93	-0.00	-0.08	0.77	0.86	0.10	-6.69	-0.18	-7.36
Income Tax Expense	18	21	46	5.47	32	30	44	58	42	50
Basic Earnings per Share	$0.31	$1.02	$2.19	$1.24	$2.92	$2.80	$3.87	$4.41	$4.25	$4.66
Weighted Average Basic Shares Outstanding	46.82M	46.41M	46.73M	46.85M	46.96M	47.20M	47.30M	47.39M	47.56M	47.55M
Diluted Earnings per Share	$0.31	$1.02	$2.18	$1.24	$2.92	$2.80	$3.87	$4.40	$4.24	$4.65
Weighted Average Diluted Shares Outstanding	47.49M	46.54M	46.81M	46.90M	47.00M	47.24M	47.37M	47.47M	47.62M	47.65M
Weighted Average Basic & Diluted Shares Outstanding	47.30M	47.10M	47.40M	47.50M	47.19M	47.11M	48.50M	47.25M	47.37M	47.47M
Cash Dividends to Common per Share	-	-	$0.12	$0.24	$0.40	$0.60	$0.80	$1.20	$1.40	$1.60

This table shows Pangaea Logistics Solutions' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	53	65	40	50	52	62	57	52	67	46
Consolidated Net Income / (Loss)	53	65	40	50	52	62	57	52	67	46
Net Income / (Loss) Continuing Operations	53	65	40	50	52	62	57	52	67	46
Total Pre-Tax Income	70	81	52	64	54	76	70	65	81	55
Total Operating Income	68	83	45	59	48	65	63	56	67	52
Total Gross Profit	123	139	97	114	107	122	128	120	126	125
Total Revenue	161	169	130	147	141	158	165	159	162	162
Operating Revenue	161	169	130	147	141	158	165	159	162	162
Total Cost of Revenue	37	30	33	32	34	36	37	38	36	37
Operating Cost of Revenue	37	30	33	32	34	36	37	38	36	37
Total Operating Expenses	55	56	52	56	58	58	65	64	59	72
Selling, General & Admin Expense	18	19	15	17	18	17	19	20	16	20
Research & Development Expense	30	32	31	32	33	34	38	37	36	46
Amortization Expense	3.56	2.90	2.89	3.99	4.56	4.55	4.55	4.55	4.55	4.55
Other Operating Expenses / (Income)	2.28	2.54	2.42	2.40	2.65	2.53	3.63	2.52	2.51	2.08
Total Other Income / (Expense), net	1.63	-2.44	6.26	5.41	5.44	11	7.63	8.45	14	2.84
Interest & Investment Income	2.43	3.51	6.97	6.20	7.14	7.87	9.57	9.91	11	11
Other Income / (Expense), net	-0.80	-5.94	-0.70	-0.78	-1.69	3.00	-1.94	-1.46	3.82	-7.77
Income Tax Expense	17	16	12	14	2.36	14	14	13	15	9.31
Basic Earnings per Share	$1.12	$1.37	$0.83	$1.04	$1.08	$1.30	$1.19	$1.10	$1.40	$0.97
Weighted Average Basic Shares Outstanding	47.40M	47.39M	47.52M	47.57M	47.57M	47.56M	47.56M	47.55M	47.54M	47.55M
Diluted Earnings per Share	$1.12	$1.36	$0.83	$1.04	$1.08	$1.29	$1.19	$1.10	$1.40	$0.96
Weighted Average Diluted Shares Outstanding	47.47M	47.47M	47.57M	47.62M	47.63M	47.62M	47.63M	47.63M	47.67M	47.65M
Weighted Average Basic & Diluted Shares Outstanding	47.24M	47.25M	47.33M	47.35M	47.36M	47.37M	47.44M	47.45M	47.46M	47.47M
Cash Dividends to Common per Share	$0.30	$0.30	$0.35	$0.35	$0.35	$0.35	$0.40	$0.40	$0.40	$0.40

This table details how cash moves in and out of Pangaea Logistics Solutions' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	52	42	-6.53	78	-79	498	-318	-219	-1.45	7.00
Net Cash From Operating Activities	114	80	133	122	194	149	191	127	155	254
Net Cash From Continuing Operating Activities	114	80	133	122	194	149	191	127	155	254
Net Income / (Loss) Continuing Operations	15	48	104	59	138	133	184	210	203	222
Consolidated Net Income / (Loss)	15	48	104	59	138	133	184	210	203	222
Depreciation Expense	3.09	4.27	4.92	8.61	12	15	20	25	27	26
Amortization Expense	10	7.26	7.99	-53	-120	17	22	11	4.39	11
Non-Cash Adjustments To Reconcile Net Income	47	13	19	25	29	34	45	42	27	39
Changes in Operating Assets and Liabilities, net	39	7.92	-2.67	83	134	-51	-80	-161	-107	-44
Net Cash From Investing Activities	-59	-38	-126	-21	-239	391	-458	-281	-83	-164
Net Cash From Continuing Investing Activities	-59	-38	-126	-21	-239	391	-458	-281	-83	-164
Purchase of Property, Plant & Equipment	-5.10	-7.30	-30	-25	-30	-28	-43	-42	-60	-43
Acquisitions	-	-129	-	0.00	-0.40	-0.06	-0.39	-4.71	-67	0.00
Purchase of Investments	-692	-450	-594	-629	-932	-604	-642	-702	-531	-595
Sale and/or Maturity of Investments	638	548	499	633	724	1,023	228	468	574	473
Net Cash From Financing Activities	-2.95	-0.01	-14	-23	-35	-42	-51	-65	-73	-82
Net Cash From Continuing Financing Activities	-2.95	-0.01	-14	-23	-35	-42	-51	-65	-73	-82
Repurchase of Common Equity	-	-	-	-0.48	-0.65	0.00	0.00	0.00	0.00	0.00
Payment of Dividends	-	-	-5.65	-11	-19	-28	-38	-57	-67	-76
Issuance of Common Equity	0.35	0.44	0.73	0.80	0.89	1.18	1.51	1.57	2.01	2.22
Other Financing Activities, net	-3.30	-0.45	-9.39	-12	-16	-14	-15	-9.21	-8.21	-8.39

This table details how cash moves in and out of Pangaea Logistics Solutions' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-26	-94	65	-65	-14	13	-18	19	-13	19
Net Cash From Operating Activities	38	2.64	48	9.78	60	37	72	67	80	35
Net Cash From Continuing Operating Activities	38	2.64	48	9.78	60	37	72	67	80	35
Net Income / (Loss) Continuing Operations	53	65	40	50	52	62	57	52	67	46
Consolidated Net Income / (Loss)	53	65	40	50	52	62	57	52	67	46
Depreciation Expense	6.45	6.83	6.50	6.71	6.92	7.28	6.62	6.48	6.40	6.45
Amortization Expense	1.12	-0.10	-0.71	0.75	1.97	2.38	2.31	2.51	2.90	3.08
Non-Cash Adjustments To Reconcile Net Income	9.87	15	5.20	7.52	8.25	6.27	9.50	9.98	5.71	14
Changes in Operating Assets and Liabilities, net	-33	-84	-3.21	-55	-8.35	-41	-3.13	-4.29	-2.02	-35
Net Cash From Investing Activities	-50	-83	41	-58	-58	-7.93	-64	-29	-74	2.73
Net Cash From Continuing Investing Activities	-50	-83	41	-58	-58	-7.93	-64	-29	-74	2.73
Purchase of Property, Plant & Equipment	-9.78	-11	-9.10	-18	-25	-7.58	-7.21	-9.13	-14	-13
Purchase of Investments	-177	-237	-65	-50	-188	-228	-100	-75	-163	-257
Sale and/or Maturity of Investments	141	166	115	76	156	228	43	55	103	272
Net Cash From Financing Activities	-14	-14	-23	-16	-17	-16	-26	-19	-19	-18
Net Cash From Continuing Financing Activities	-14	-14	-23	-16	-17	-16	-26	-19	-19	-18
Payment of Dividends	-14	-14	-17	-17	-17	-17	-20	-19	-19	-18
Issuance of Common Equity	0.40	0.32	0.52	0.45	0.56	0.48	0.64	0.55	0.59	0.44
Other Financing Activities, net	-0.31	-0.06	-7.18	-0.25	-0.47	-0.31	-7.06	-0.27	-0.92	-0.14

This table presents Pangaea Logistics Solutions' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	559	628	780	933	1,120	1,269	1,467	1,533	1,669	1,832
Total Current Assets	448	385	519	635	792	925	926	899	917	900
Cash & Equivalents	98	139	133	211	132	630	312	93	92	99
Short-Term Investments	298	189	287	304	514	100	351	484	422	394
Accounts Receivable	25	25	52	43	60	82	108	93	140	114
Inventories, net	13	17	36	70	64	92	134	183	176	183
Other Current Assets	2.39	6.39	10	6.37	22	21	21	46	87	111
Plant, Property, & Equipment, net	22	27	56	70	88	102	129	143	175	195
Total Noncurrent Assets	89	215	204	229	240	243	412	490	577	737
Long-Term Investments	2.19	15	15	-	5.00	5.00	168	260	300	458
Goodwill	-	16	16	16	16	16	16	16	16	16
Intangible Assets	72	168	146	124	103	81	59	47	97	79
Noncurrent Deferred & Refundable Income Taxes	15	16	27	24	30	38	33	58	59	78
Other Noncurrent Operating Assets	0.17	0.31	0.60	65	86	103	136	110	105	107
Total Liabilities & Shareholders' Equity	559	628	780	933	1,120	1,269	1,467	1,533	1,669	1,832
Total Liabilities	93	99	121	243	309	357	367	257	222	216
Total Current Liabilities	35	40	64	133	162	165	188	136	119	125
Accounts Payable	6.85	8.11	14	11	13	14	15	9.52	11	37
Accrued Expenses	17	20	35	36	49	41	45	51	52	46
Current Deferred Revenue	10	10	15	81	97	105	121	46	48	33
Other Current Liabilities	0.17	1.97	0.05	5.81	1.86	4.54	6.65	30	8.10	9.72
Total Noncurrent Liabilities	58	59	57	110	147	192	179	122	103	90
Noncurrent Deferred Revenue	36	31	24	42	48	57	36	18	12	0.54
Noncurrent Employee Benefit Liabilities	23	28	33	44	51	79	67	60	52	54
Other Noncurrent Operating Liabilities	-	-	-	24	49	56	76	44	39	35
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	467	528	659	691	811	913	1,100	1,275	1,447	1,617
Total Preferred & Common Equity	467	528	659	691	811	913	1,100	1,275	1,447	1,617
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	467	528	659	691	811	913	1,100	1,275	1,447	1,617
Common Stock	590	605	612	618	621	636	659	682	700	724
Retained Earnings	-74	-26	99	130	249	354	500	653	790	935
Treasury Stock	-40	-40	-40	-41	-41	-41	-41	-41	-41	-41
Accumulated Other Comprehensive Income / (Loss)	-9.82	-11	-11	-16	-17	-36	-18	-18	-1.09	-1.06

This table presents Pangaea Logistics Solutions' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	1,530	1,536	1,541	1,623	1,684	1,777	1,811
Total Current Assets	977	950	878	879	921	959	942
Cash & Equivalents	188	158	93	79	74	93	80
Short-Term Investments	501	488	466	412	465	438	472
Accounts Receivable	78	93	109	122	120	124	88
Inventories, net	180	174	176	181	173	172	176
Other Current Assets	30	37	34	83	89	133	127
Plant, Property, & Equipment, net	138	145	158	175	176	185	191
Total Noncurrent Assets	415	440	505	570	587	632	678
Long-Term Investments	174	213	211	301	313	362	397
Goodwill	16	16	16	16	16	16	16
Intangible Assets	50	44	106	102	93	88	84
Noncurrent Deferred & Refundable Income Taxes	43	63	70	50	63	67	72
Other Noncurrent Operating Assets	133	104	102	101	102	99	110
Total Liabilities & Shareholders' Equity	1,530	1,536	1,541	1,623	1,684	1,777	1,811
Total Liabilities	318	236	202	241	199	250	224
Total Current Liabilities	138	115	81	131	95	152	131
Accounts Payable	13	9.74	7.33	21	13	24	25
Accrued Expenses	50	25	35	39	42	59	53
Current Deferred Revenue	67	37	30	67	19	64	47
Other Current Liabilities	7.61	42	8.60	5.39	21	5.96	6.12
Total Noncurrent Liabilities	180	121	121	109	104	98	93
Noncurrent Deferred Revenue	27	18	18	8.86	13	6.73	2.38
Noncurrent Employee Benefit Liabilities	67	60	61	61	53	54	54
Other Noncurrent Operating Liabilities	86	43	42	39	38	37	36
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,212	1,299	1,339	1,382	1,485	1,527	1,587
Total Preferred & Common Equity	1,212	1,299	1,339	1,382	1,485	1,527	1,587
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,212	1,299	1,339	1,382	1,485	1,527	1,587
Common Stock	675	680	687	694	703	713	718
Retained Earnings	602	676	709	744	827	860	908
Treasury Stock	-41	-41	-41	-41	-41	-41	-41
Accumulated Other Comprehensive Income / (Loss)	-25	-15	-16	-15	-3.79	-4.66	2.58

This table displays calculated financial ratios and metrics derived from Pangaea Logistics Solutions' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.01%	4.10%	68.75%	-26.28%	63.76%	5.85%	29.07%	11.40%	-6.52%	12.36%
EBITDA Growth	-35.83%	70.84%	104.01%	-92.34%	322.62%	270.01%	41.30%	9.99%	-16.01%	7.79%
EBIT Growth	-44.94%	105.99%	119.96%	-61.26%	180.86%	-0.45%	43.79%	14.35%	-16.67%	6.65%
NOPAT Growth	-65.35%	234.54%	111.93%	-48.91%	148.31%	-0.32%	43.00%	13.86%	-14.03%	8.36%
Net Income Growth	-64.93%	227.50%	116.11%	-43.36%	135.05%	-3.57%	38.12%	14.03%	-3.36%	9.39%
EPS Growth	-65.56%	229.03%	113.73%	-43.12%	135.48%	-4.11%	38.21%	13.70%	-3.64%	9.67%
Operating Cash Flow Growth	140.35%	-29.29%	66.00%	-8.67%	59.21%	-23.27%	28.44%	-33.64%	22.05%	63.94%
Free Cash Flow Firm Growth	221.87%	-166.85%	192.19%	59.56%	42.66%	-22.66%	-16.51%	-56.78%	-139.85%	1,114.74%
Invested Capital Growth	-56.05%	168.51%	20.74%	-21.79%	-8.45%	10.82%	51.18%	62.94%	44.74%	5.16%
Revenue Q/Q Growth	3.32%	6.57%	14.03%	-15.60%	8.45%	10.23%	0.86%	3.84%	-1.82%	0.62%
EBITDA Q/Q Growth	28.06%	1.88%	13.61%	-79.75%	4.83%	1,749.92%	20.35%	-33.48%	-2.54%	-7.95%
EBIT Q/Q Growth	43.68%	9.98%	18.69%	-42.94%	13.77%	24.82%	-4.06%	8.66%	-4.15%	-9.05%
NOPAT Q/Q Growth	53.98%	18.07%	7.29%	-23.91%	6.45%	28.59%	-3.84%	11.29%	-7.33%	-4.65%
Net Income Q/Q Growth	51.07%	19.17%	7.22%	-18.73%	5.47%	25.94%	-4.18%	10.09%	-1.53%	-6.70%
EPS Q/Q Growth	47.62%	20.00%	6.86%	-18.95%	5.80%	25.56%	-3.97%	9.73%	-1.62%	-6.63%
Operating Cash Flow Q/Q Growth	4.12%	9.56%	19.86%	-22.45%	17.82%	12.73%	-7.81%	-29.92%	28.61%	-0.92%
Free Cash Flow Firm Q/Q Growth	12.28%	-1.83%	35.33%	-21.98%	21.29%	34.78%	-39.82%	-48.38%	65.47%	4.22%
Invested Capital Q/Q Growth	-20.49%	-4.74%	-7.75%	-3.70%	-13.09%	-12.01%	12.46%	25.37%	7.47%	4.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	64.03%	86.78%	83.70%	78.36%	81.40%	80.07%	79.23%	79.26%	76.51%	77.08%
EBITDA Margin	23.90%	39.22%	47.42%	4.93%	12.71%	44.45%	48.66%	48.04%	43.16%	41.41%
Operating Margin	16.89%	34.40%	43.57%	22.93%	39.08%	36.73%	41.13%	43.32%	37.68%	36.87%
EBIT Margin	16.89%	33.43%	43.57%	22.90%	39.27%	36.93%	41.14%	42.23%	37.65%	35.73%
Profit (Net Income) Margin	7.68%	24.17%	30.95%	23.78%	34.13%	31.10%	33.28%	34.07%	35.22%	34.29%
Tax Burden Percent	44.40%	70.07%	69.47%	91.49%	81.40%	81.56%	80.71%	78.31%	82.80%	81.61%
Interest Burden Percent	102.43%	103.18%	102.25%	113.52%	106.78%	103.24%	100.22%	103.00%	112.98%	117.58%
Effective Tax Rate	55.60%	29.93%	30.53%	8.51%	18.60%	18.44%	19.29%	21.69%	17.20%	18.39%
Return on Invested Capital (ROIC)	12.67%	37.66%	49.62%	26.01%	76.83%	76.01%	82.32%	59.23%	33.57%	29.99%
ROIC Less NNEP Spread (ROIC-NNEP)	12.57%	37.63%	49.04%	24.55%	75.22%	75.30%	82.26%	59.12%	30.77%	26.90%
Return on Net Nonoperating Assets (RNNOA)	-9.46%	-28.00%	-32.13%	-17.29%	-58.41%	-60.54%	-64.02%	-41.54%	-18.66%	-15.49%
Return on Equity (ROE)	3.21%	9.66%	17.50%	8.72%	18.42%	15.47%	18.31%	17.69%	14.91%	14.50%
Cash Return on Invested Capital (CROIC)	90.54%	-53.79%	30.83%	50.47%	85.65%	65.75%	41.57%	11.35%	-2.98%	24.95%
Operating Return on Assets (OROA)	6.15%	11.20%	20.78%	6.61%	15.50%	13.26%	16.65%	17.36%	13.56%	13.22%
Return on Assets (ROA)	2.80%	8.10%	14.76%	6.87%	13.47%	11.16%	13.47%	14.01%	12.68%	12.69%
Return on Common Equity (ROCE)	3.21%	9.66%	17.50%	8.72%	18.42%	15.47%	18.31%	17.69%	14.91%	14.50%
Return on Equity Simple (ROE_SIMPLE)	3.14%	9.10%	15.76%	8.52%	17.04%	14.61%	16.75%	16.47%	14.03%	13.74%
Net Operating Profit after Tax (NOPAT)	14	48	102	52	129	128	184	209	180	195
NOPAT Margin	7.50%	24.10%	30.27%	20.98%	31.81%	29.96%	33.19%	33.92%	31.20%	30.09%
Net Nonoperating Expense Percent (NNEP)	0.10%	0.04%	0.59%	1.46%	1.61%	0.71%	0.06%	0.11%	2.81%	3.08%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	16.40%	12.43%	12.06%
Cost of Revenue to Revenue	35.97%	13.22%	16.30%	21.64%	18.60%	19.93%	20.77%	20.74%	23.49%	22.92%
SG&A Expenses to Revenue	15.20%	16.53%	13.95%	19.00%	14.71%	14.30%	14.52%	12.63%	11.69%	11.47%
R&D to Revenue	23.37%	21.49%	14.64%	21.71%	17.59%	19.56%	18.01%	18.98%	22.64%	24.27%
Operating Expenses to Revenue	47.14%	52.38%	40.13%	55.43%	42.32%	43.34%	38.10%	35.94%	38.84%	40.21%
Earnings before Interest and Taxes (EBIT)	32	66	146	57	159	158	228	260	217	231
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	46	78	159	12	52	191	269	296	249	268
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.25	4.82	11.89	6.17	11.60	11.54	6.91	3.93	6.20	4.29
Price to Tangible Book Value (P/TBV)	6.21	7.40	15.76	7.74	13.58	12.90	7.41	4.13	6.73	4.56
Price to Revenue (P/Rev)	12.83	12.82	23.35	17.23	23.22	24.55	13.72	8.13	15.58	10.71
Price to Earnings (P/E)	167.00	53.03	75.43	72.43	68.03	78.94	41.23	23.86	44.22	31.25
Dividend Yield	0.00%	0.00%	0.07%	0.27%	0.20%	0.27%	0.50%	1.13%	0.74%	1.09%
Earnings Yield	0.60%	1.89%	1.33%	1.38%	1.47%	1.27%	2.43%	4.19%	2.26%	3.20%
Enterprise Value to Invested Capital (EV/IC)	29.73	11.89	33.05	21.39	54.62	55.11	25.18	9.54	12.89	8.99
Enterprise Value to Revenue (EV/Rev)	10.75	11.09	22.05	15.14	21.62	22.84	12.22	6.77	14.16	9.25
Enterprise Value to EBITDA (EV/EBITDA)	44.97	28.28	46.51	307.35	170.01	51.38	25.12	14.09	32.81	22.33
Enterprise Value to EBIT (EV/EBIT)	63.63	33.18	50.61	66.13	55.05	61.83	29.70	16.03	37.62	25.87
Enterprise Value to NOPAT (EV/NOPAT)	143.30	46.02	72.85	72.18	67.95	76.23	36.82	19.96	45.40	30.73
Enterprise Value to Operating Cash Flow (EV/OCF)	18.08	27.46	55.50	30.76	45.17	65.82	35.40	32.92	52.75	23.60
Enterprise Value to Free Cash Flow (EV/FCFF)	20.05	0.00	117.25	37.20	60.95	88.13	72.91	104.12	0.00	36.93
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.75	-0.74	-0.66	-0.70	-0.78	-0.80	-0.78	-0.70	-0.61	-0.58
Leverage Ratio	1.15	1.19	1.19	1.27	1.37	1.39	1.36	1.26	1.18	1.14
Compound Leverage Factor	1.17	1.23	1.21	1.44	1.46	1.43	1.36	1.30	1.33	1.34
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	17.11	16.70	40.82	11.83	20.11	19.58	14.39	13.84	26.30	21.28
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	12.97	9.58	8.13	4.77	4.91	5.61	4.93	6.63	7.72	7.18
Quick Ratio	12.18	8.78	7.41	4.19	4.37	4.92	4.10	4.94	5.50	4.83
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	102	-68	63	101	144	111	93	40	-16	162
Operating Cash Flow to CapEx	2,226.38%	1,100.52%	447.49%	479.68%	645.10%	531.57%	442.77%	298.41%	258.86%	595.12%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.36	0.34	0.48	0.29	0.39	0.36	0.40	0.41	0.36	0.37
Accounts Receivable Turnover	8.16	8.00	8.68	5.18	7.82	6.01	5.83	6.16	4.96	5.11
Inventory Turnover	2.76	1.75	2.04	1.01	1.13	1.10	1.02	0.81	0.75	0.83
Fixed Asset Turnover	9.03	8.02	8.02	3.92	5.14	4.51	4.79	4.53	3.62	3.50
Accounts Payable Turnover	8.53	3.51	5.00	4.41	6.33	6.31	8.00	10.45	13.24	6.25
Days Sales Outstanding (DSO)	44.71	45.63	42.06	70.43	46.66	60.73	62.61	59.28	73.62	71.43
Days Inventory Outstanding (DIO)	132.42	208.70	178.77	362.22	324.33	332.09	358.29	452.88	483.99	440.98
Days Payable Outstanding (DPO)	42.78	103.86	73.02	82.85	57.69	57.85	45.64	34.92	27.57	58.42
Cash Conversion Cycle (CCC)	134.34	150.46	147.80	349.80	313.30	334.97	375.26	477.24	530.03	453.99
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	69	185	224	175	160	178	269	438	634	666
Invested Capital Turnover	1.69	1.56	1.64	1.24	2.42	2.54	2.48	1.75	1.08	1.00
Increase / (Decrease) in Invested Capital	-88	116	38	-49	-15	17	91	169	196	33
Enterprise Value (EV)	2,054	2,206	7,401	3,747	8,758	9,794	6,765	4,175	8,164	5,989
Market Capitalization	2,451	2,549	7,837	4,262	9,409	10,529	7,596	5,013	8,978	6,939
Book Value per Share	$9.99	$11.25	$14.01	$14.66	$17.22	$19.38	$23.34	$27.00	$30.56	$34.06
Tangible Book Value per Share	$8.45	$7.34	$10.57	$11.69	$14.71	$17.33	$21.75	$25.68	$28.18	$32.07
Total Capital	467	528	659	691	811	913	1,100	1,275	1,447	1,617
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-398	-343	-435	-515	-651	-735	-831	-838	-814	-950
Capital Expenditures (CapEx)	5.10	7.30	30	25	30	28	43	42	60	43
Debt-free, Cash-free Net Working Capital (DFCFNWC)	18	17	35	-14	-15	30	75	186	284	282
Debt-free Net Working Capital (DFNWC)	413	345	455	502	631	760	738	764	798	774
Net Working Capital (NWC)	413	345	455	502	631	760	738	764	798	774
Net Nonoperating Expense (NNE)	-0.35	-0.13	-2.29	-6.93	-9.41	-4.90	-0.49	-0.88	-23	-27
Net Nonoperating Obligations (NNO)	-398	-343	-435	-515	-651	-735	-831	-838	-814	-950
Total Depreciation and Amortization (D&A)	13	12	13	-44	-108	32	42	36	32	37
Debt-free, Cash-free Net Working Capital to Revenue	9.25%	8.63%	10.45%	-5.53%	-3.74%	6.91%	13.52%	30.16%	49.30%	43.50%
Debt-free Net Working Capital to Revenue	216.27%	173.55%	135.67%	202.76%	155.72%	177.13%	133.33%	123.86%	138.49%	119.57%
Net Working Capital to Revenue	216.27%	173.55%	135.67%	202.76%	155.72%	177.13%	133.33%	123.86%	138.49%	119.57%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.31	$1.02	$2.19	$1.24	$2.92	$2.80	$3.87	$4.41	$4.25	$4.66
Adjusted Weighted Average Basic Shares Outstanding	46.82M	46.41M	46.73M	46.85M	46.96M	47.20M	47.30M	47.39M	47.56M	47.55M
Adjusted Diluted Earnings per Share	$0.31	$1.02	$2.18	$1.24	$2.92	$2.80	$3.87	$4.40	$4.24	$4.65
Adjusted Weighted Average Diluted Shares Outstanding	47.49M	46.54M	46.81M	46.90M	47.00M	47.24M	47.37M	47.47M	47.62M	47.65M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	46.82M	46.98M	47.05M	47.11M	47.19M	47.11M	48.50M	47.25M	47.37M	47.47M
Normalized Net Operating Profit after Tax (NOPAT)	23	48	102	52	129	128	184	209	180	195
Normalized NOPAT Margin	11.83%	24.10%	30.27%	20.98%	31.81%	29.96%	33.19%	33.92%	31.20%	30.09%
Pre Tax Income Margin	17.30%	34.49%	44.55%	25.99%	41.93%	38.13%	41.24%	43.50%	42.53%	42.02%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	5.44%	19.23%	13.63%	21.33%	20.59%	27.13%	32.87%	34.30%
Augmented Payout Ratio	0.00%	0.00%	5.44%	20.04%	14.10%	21.33%	20.59%	27.13%	32.87%	34.30%

This table displays calculated financial ratios and metrics derived from Pangaea Logistics Solutions' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.79%	15.58%	-13.29%	7.33%	-12.13%	-6.34%	26.67%	8.15%	14.57%	2.51%
EBITDA Growth	455.55%	-63.99%	-30.95%	1.97%	-26.06%	-7.72%	38.45%	-2.07%	44.02%	-29.91%
EBIT Growth	17.41%	36.82%	-28.21%	8.34%	-30.91%	-12.18%	36.41%	-4.97%	51.52%	-33.99%
NOPAT Growth	13.31%	46.48%	-29.66%	13.02%	-11.30%	-20.90%	44.84%	0.09%	18.83%	-17.74%
Net Income Growth	15.93%	41.98%	-20.27%	19.70%	-3.63%	-4.85%	42.71%	5.35%	29.80%	-25.75%
EPS Growth	15.46%	40.21%	-20.95%	19.54%	-3.57%	-5.15%	43.37%	5.77%	29.63%	-25.58%
Operating Cash Flow Growth	-49.42%	-95.35%	-9.48%	-70.83%	58.52%	1,303.64%	51.52%	585.41%	32.41%	-6.36%
Free Cash Flow Firm Growth	-733.15%	-125.95%	-569.88%	-862.39%	-234.19%	-39.98%	-18.01%	90.48%	103.23%	107.67%
Invested Capital Growth	46.16%	62.94%	54.55%	82.24%	68.84%	44.74%	43.79%	11.54%	8.27%	5.16%
Revenue Q/Q Growth	17.57%	5.28%	-22.82%	12.34%	-3.74%	12.22%	4.38%	-4.09%	1.97%	0.41%
EBITDA Q/Q Growth	17.46%	11.49%	-39.85%	29.45%	-14.82%	39.15%	-9.75%	-8.44%	25.26%	-32.29%
EBIT Q/Q Growth	26.70%	14.01%	-42.10%	29.53%	-19.21%	44.92%	-10.06%	-9.77%	28.82%	-36.86%
NOPAT Q/Q Growth	29.75%	28.52%	-47.83%	29.92%	1.83%	14.60%	-4.47%	-10.23%	20.90%	-20.67%
Net Income Q/Q Growth	28.80%	21.85%	-38.84%	24.70%	3.70%	20.31%	-8.27%	-7.94%	27.77%	-31.18%
EPS Q/Q Growth	28.74%	21.43%	-38.97%	25.30%	3.85%	19.44%	-7.75%	-7.56%	27.27%	-31.43%
Operating Cash Flow Q/Q Growth	13.49%	-93.06%	1,703.14%	-79.47%	516.85%	-38.53%	94.65%	-7.13%	19.17%	-56.53%
Free Cash Flow Firm Q/Q Growth	-164.88%	-75.64%	-17.96%	-75.37%	8.02%	26.43%	-4.48%	85.85%	131.21%	74.80%
Invested Capital Q/Q Growth	11.97%	25.37%	0.52%	29.15%	3.74%	7.47%	0.95%	0.19%	0.70%	4.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	76.71%	82.19%	74.73%	78.07%	75.72%	77.25%	77.63%	75.82%	77.84%	76.98%
EBITDA Margin	46.86%	49.62%	38.67%	44.56%	39.43%	48.89%	42.27%	40.35%	49.57%	33.43%
Operating Margin	42.64%	49.15%	34.77%	40.01%	34.33%	40.90%	38.04%	35.61%	41.46%	32.34%
EBIT Margin	42.14%	45.64%	34.23%	39.47%	33.13%	42.79%	36.87%	34.68%	43.82%	27.55%
Profit (Net Income) Margin	33.29%	38.53%	30.54%	33.89%	36.52%	39.15%	34.40%	33.02%	41.37%	28.36%
Tax Burden Percent	76.27%	80.77%	77.16%	77.56%	95.61%	81.97%	80.65%	80.66%	82.13%	83.18%
Interest Burden Percent	103.59%	104.54%	115.60%	110.71%	115.27%	111.61%	115.70%	118.03%	114.96%	123.73%
Effective Tax Rate	23.73%	19.23%	22.84%	22.44%	4.39%	18.03%	19.35%	19.35%	17.87%	16.82%
Return on Invested Capital (ROIC)	65.68%	69.31%	44.18%	42.78%	41.07%	36.08%	34.97%	29.77%	35.70%	26.81%
ROIC Less NNEP Spread (ROIC-NNEP)	65.53%	69.54%	43.61%	42.26%	40.44%	35.00%	34.25%	28.95%	34.34%	26.54%
Return on Net Nonoperating Assets (RNNOA)	-48.39%	-48.86%	-30.61%	-27.41%	-25.81%	-21.23%	-21.05%	-16.81%	-20.14%	-15.28%
Return on Equity (ROE)	17.29%	20.45%	13.57%	15.37%	15.26%	14.85%	13.91%	12.97%	15.56%	11.53%
Cash Return on Invested Capital (CROIC)	26.42%	11.35%	10.79%	-12.91%	-9.86%	-2.98%	0.54%	21.61%	25.35%	24.95%
Operating Return on Assets (OROA)	16.91%	18.76%	13.51%	15.75%	12.34%	15.41%	14.00%	13.03%	16.43%	10.19%
Return on Assets (ROA)	13.36%	15.84%	12.05%	13.53%	13.60%	14.10%	13.06%	12.41%	15.51%	10.49%
Return on Common Equity (ROCE)	17.29%	20.45%	13.57%	15.37%	15.26%	14.85%	13.91%	12.97%	15.56%	11.53%
Return on Equity Simple (ROE_SIMPLE)	15.75%	0.00%	15.39%	15.54%	14.91%	0.00%	14.82%	14.58%	15.00%	0.00%
Net Operating Profit after Tax (NOPAT)	52	67	35	45	46	53	51	46	55	44
NOPAT Margin	32.52%	39.70%	26.83%	31.03%	32.83%	33.52%	30.68%	28.72%	34.05%	26.90%
Net Nonoperating Expense Percent (NNEP)	0.15%	-0.24%	0.57%	0.52%	0.63%	1.08%	0.72%	0.82%	1.36%	0.27%
Return On Investment Capital (ROIC_SIMPLE)	-	5.26%	-	-	-	3.67%	-	-	-	2.70%
Cost of Revenue to Revenue	23.29%	17.81%	25.27%	21.93%	24.28%	22.75%	22.37%	24.18%	22.16%	23.02%
SG&A Expenses to Revenue	11.49%	10.95%	11.80%	11.65%	12.82%	10.63%	11.65%	12.52%	9.69%	12.03%
R&D to Revenue	18.94%	18.88%	24.09%	22.05%	23.46%	21.25%	22.99%	23.23%	22.33%	28.52%
Operating Expenses to Revenue	34.07%	33.04%	39.96%	38.06%	41.39%	36.35%	39.59%	40.21%	36.39%	44.64%
Earnings before Interest and Taxes (EBIT)	68	77	45	58	47	68	61	55	71	45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	75	84	50	65	56	77	70	64	80	54
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.62	3.93	5.58	5.05	5.33	6.20	5.36	6.53	6.28	4.29
Price to Tangible Book Value (P/TBV)	3.82	4.13	5.85	5.56	5.83	6.73	5.78	7.01	6.70	4.56
Price to Revenue (P/Rev)	7.38	8.13	12.15	11.15	12.56	15.58	13.03	16.01	15.47	10.71
Price to Earnings (P/E)	22.98	23.86	36.27	32.50	35.76	44.22	36.19	44.79	41.84	31.25
Dividend Yield	1.18%	1.13%	0.81%	0.91%	0.87%	0.74%	0.86%	0.71%	0.74%	1.09%
Earnings Yield	4.35%	4.19%	2.76%	3.08%	2.80%	2.26%	2.76%	2.23%	2.39%	3.20%
Enterprise Value to Invested Capital (EV/IC)	10.09	9.54	14.53	10.55	11.16	12.89	11.24	14.33	14.12	8.99
Enterprise Value to Revenue (EV/Rev)	5.93	6.77	10.71	9.88	11.20	14.16	11.63	14.57	14.00	9.25
Enterprise Value to EBITDA (EV/EBITDA)	7.91	14.09	23.36	21.81	25.77	32.81	26.51	34.03	30.93	22.33
Enterprise Value to EBIT (EV/EBIT)	14.70	16.03	26.32	24.24	29.06	37.62	30.48	39.42	35.41	25.87
Enterprise Value to NOPAT (EV/NOPAT)	18.74	19.96	32.88	30.03	33.90	45.40	36.35	46.46	44.09	30.73
Enterprise Value to Operating Cash Flow (EV/OCF)	19.47	32.92	52.46	61.11	54.67	52.75	39.65	38.39	35.19	23.60
Enterprise Value to Free Cash Flow (EV/FCFF)	45.34	104.12	163.49	0.00	0.00	0.00	2,445.64	69.93	57.91	36.93
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.74	-0.70	-0.70	-0.65	-0.64	-0.61	-0.61	-0.58	-0.59	-0.58
Leverage Ratio	1.32	1.26	1.24	1.21	1.22	1.18	1.16	1.16	1.16	1.14
Compound Leverage Factor	1.36	1.32	1.44	1.34	1.40	1.31	1.34	1.37	1.33	1.41
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	10.00	13.45	20.17	21.87	20.04	26.01	25.79	25.64	28.39	20.95
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	7.07	6.63	8.27	10.88	6.69	7.72	9.70	6.31	7.18	7.18
Quick Ratio	5.55	4.94	6.43	8.28	4.67	5.50	6.94	4.31	4.87	4.83
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-58	-102	-120	-211	-194	-143	-142	-20	6.27	11
Operating Cash Flow to CapEx	388.88%	23.21%	523.42%	53.79%	241.87%	488.79%	1,001.33%	734.15%	586.07%	273.83%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.40	0.41	0.39	0.40	0.37	0.36	0.38	0.38	0.37	0.37
Accounts Receivable Turnover	6.81	6.16	6.04	6.58	5.86	4.96	5.76	5.33	6.13	5.11
Inventory Turnover	0.86	0.81	0.80	0.78	0.72	0.75	0.80	0.84	0.82	0.83
Fixed Asset Turnover	4.63	4.53	4.31	4.10	3.76	3.62	3.81	3.63	3.52	3.50
Accounts Payable Turnover	10.70	10.45	6.94	12.41	7.62	13.24	12.34	9.40	6.49	6.25
Days Sales Outstanding (DSO)	53.61	59.28	60.45	55.45	62.29	73.62	63.38	68.46	59.51	71.43
Days Inventory Outstanding (DIO)	423.38	452.88	453.72	469.99	509.77	483.99	454.56	435.92	443.28	440.98
Days Payable Outstanding (DPO)	34.10	34.92	52.60	29.42	47.90	27.57	29.57	38.82	56.22	58.42
Cash Conversion Cycle (CCC)	442.89	477.24	461.57	496.02	524.15	530.03	488.37	465.56	446.57	453.99
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	349	438	440	568	590	634	633	634	638	666
Invested Capital Turnover	2.02	1.75	1.65	1.38	1.25	1.08	1.14	1.04	1.05	1.00
Increase / (Decrease) in Invested Capital	110	169	155	256	240	196	193	66	49	33
Enterprise Value (EV)	3,522	4,175	6,391	5,994	6,579	8,164	7,110	9,081	9,012	5,989
Market Capitalization	4,385	5,013	7,251	6,764	7,372	8,978	7,962	9,974	9,960	6,939
Book Value per Share	$25.66	$27.00	$27.50	$28.28	$29.20	$30.56	$31.22	$32.18	$33.44	$34.06
Tangible Book Value per Share	$24.28	$25.68	$26.24	$25.72	$26.72	$28.18	$28.95	$30.00	$31.35	$32.07
Total Capital	1,212	1,275	1,299	1,339	1,382	1,447	1,485	1,527	1,587	1,617
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-863	-838	-859	-771	-793	-814	-852	-893	-948	-950
Capital Expenditures (CapEx)	9.78	11	9.10	18	25	7.58	7.21	9.13	14	13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	150	186	189	238	256	284	287	277	259	282
Debt-free Net Working Capital (DFNWC)	839	764	835	797	747	798	826	807	811	774
Net Working Capital (NWC)	839	764	835	797	747	798	826	807	811	774
Net Nonoperating Expense (NNE)	-1.24	1.97	-4.83	-4.20	-5.20	-8.90	-6.15	-6.82	-12	-2.36
Net Nonoperating Obligations (NNO)	-863	-838	-859	-771	-793	-814	-852	-893	-948	-950
Total Depreciation and Amortization (D&A)	7.57	6.74	5.79	7.46	8.89	9.67	8.93	8.99	9.29	9.54
Debt-free, Cash-free Net Working Capital to Revenue	25.29%	30.16%	31.71%	39.28%	43.55%	49.30%	46.95%	44.44%	40.26%	43.50%
Debt-free Net Working Capital to Revenue	141.28%	123.86%	140.00%	131.45%	127.29%	138.49%	135.19%	129.58%	125.94%	119.57%
Net Working Capital to Revenue	141.28%	123.86%	140.00%	131.45%	127.29%	138.49%	135.19%	129.58%	125.94%	119.57%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.12	$1.37	$0.83	$1.04	$1.08	$1.30	$1.19	$1.10	$1.40	$0.97
Adjusted Weighted Average Basic Shares Outstanding	47.40M	47.39M	47.52M	47.57M	47.57M	47.56M	47.56M	47.55M	47.54M	47.55M
Adjusted Diluted Earnings per Share	$1.12	$1.36	$0.83	$1.04	$1.08	$1.29	$1.19	$1.10	$1.40	$0.96
Adjusted Weighted Average Diluted Shares Outstanding	47.47M	47.47M	47.57M	47.62M	47.63M	47.62M	47.63M	47.63M	47.67M	47.65M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	47.24M	47.25M	47.33M	47.35M	47.36M	47.37M	47.44M	47.45M	47.46M	47.47M
Normalized Net Operating Profit after Tax (NOPAT)	52	67	35	45	46	53	51	46	55	44
Normalized NOPAT Margin	32.52%	39.70%	26.83%	31.03%	32.83%	33.52%	30.68%	28.72%	34.05%	26.90%
Pre Tax Income Margin	43.66%	47.71%	39.57%	43.70%	38.19%	47.76%	42.66%	40.94%	50.37%	34.09%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	27.37%	27.13%	29.77%	29.76%	31.21%	32.87%	31.58%	32.33%	31.29%	34.30%
Augmented Payout Ratio	27.37%	27.13%	29.77%	29.76%	31.21%	32.87%	31.58%	32.33%	31.29%	34.30%

Frequently Asked Questions About Pangaea Logistics Solutions' Financials

When does Pangaea Logistics Solutions's fiscal year end?

According to the most recent income statement we have on file, Pangaea Logistics Solutions' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Pangaea Logistics Solutions' net income changed over the last 9 years?

Pangaea Logistics Solutions' net income appears to be on an upward trend, with a most recent value of $222.08 million in 2024, rising from $14.68 million in 2015. The previous period was $203.01 million in 2023. View Pangaea Logistics Solutions' forecast to see where analysts expect Pangaea Logistics Solutions to go next.

What is Pangaea Logistics Solutions's operating income?

Pangaea Logistics Solutions's total operating income in 2024 was $238.80 million, based on the following breakdown:

Total Gross Profit: $499.22 million
Total Operating Expenses: $260.42 million

How has Pangaea Logistics Solutions revenue changed over the last 9 years?

Over the last 9 years, Pangaea Logistics Solutions' total revenue changed from $191.05 million in 2015 to $647.68 million in 2024, a change of 239.0%.

How much debt does Pangaea Logistics Solutions have?

Pangaea Logistics Solutions' total liabilities were at $215.81 million at the end of 2024, a 2.7% decrease from 2023, and a 132.9% increase since 2015.

How much cash does Pangaea Logistics Solutions have?

In the past 9 years, Pangaea Logistics Solutions' cash and equivalents has ranged from $91.99 million in 2023 to $630.01 million in 2020, and is currently $98.98 million as of their latest financial filing in 2024.

How has Pangaea Logistics Solutions' book value per share changed over the last 9 years?

Over the last 9 years, Pangaea Logistics Solutions' book value per share changed from 9.99 in 2015 to 34.06 in 2024, a change of 240.9%.

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This page (NASDAQ:PANL) was last updated on 5/4/2025 by MarketBeat.com Staff

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Pangaea Logistics Solutions (PANL) Financials

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Pangaea Logistics Solutions (PANL) Financials

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