Pangaea Logistics Solutions Ltd (PANL) financials
Pangaea Logistics Solutions revenue and earnings by year
Pangaea Logistics Solutions's revenue was $632 million in the fiscal year to December 31, 2025, up 17.8% from the year before. Net income was $19.4 million, 3.1% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 11.5% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 632 | 537 | 499 | 700 | 718 | 383 | 412 | 373 | 386 | 238 |
| Revenue growth | 17.8% | 7.5% | -28.6% | -2.6% | 87.5% | -7.1% | 10.5% | -3.4% | 62.2% | — |
| Gross profit | 111 | 103 | 99 | 158 | 121 | 55 | 69 | 71 | 56 | 40 |
| Gross margin | 17.6% | 19.3% | 19.9% | 22.6% | 16.8% | 14.4% | 16.6% | 19.0% | 14.5% | 16.7% |
| Operating income | 41 | 48 | 45 | 106 | 79 | 20 | 23 | 36 | 16 | 13 |
| Operating margin | 6.5% | 9.0% | 8.9% | 15.1% | 11.0% | 5.1% | 5.6% | 9.7% | 4.2% | 5.4% |
| Net income | 19 | 29 | 26 | 79 | 67 | 11 | 12 | 18 | 8 | 7 |
| Net margin | 3.1% | 5.4% | 5.3% | 11.4% | 9.4% | 3.0% | 2.8% | 4.8% | 2.0% | 3.1% |
| Diluted EPS | $0.30 | $0.63 | $0.59 | $1.77 | $1.50 | $0.25 | $0.27 | $0.42 | $0.17 | $0.20 |
| Free cash flow | 43 | -4 | 44 | 107 | -135 | 12 | -2 | 23 | -34 | 9 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open PANL in Markets.
How Pangaea Logistics Solutions makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Voyage | $172M | 91.8% |
| Charter | $11.5M | 6.1% |
| Terminal Stevedore Revenue | $3.95M | 2.1% |
See also: PANL valuation and P/E history · PANL returns
No forecast, no recommendation. This page describes Pangaea Logistics Solutions Ltd from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.