Pangaea Logistics Solutions Ltd. - Understand $panl stock

$PANL Market Cap: $259.8 Million

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Financial Snapshot

Revenue

$521.2M

TTM

Gross Margin

30.15%

TTM

Net Earnings

$21.60M

TTM

Current Assets

$196.2M

Q3 2024

Current Liabilities

$95.91M

Q3 2024

Current Ratio

204.6%

Q3 2024

Total Assets

$749.2M

Q3 2024

Total Liabilities

$229.3M

Q3 2024

Book Value

$519.9M

Q3 2024

Cash

$93.12M

Q3 2024

P/E

12.03

Nov 29, 2024 EST

Free Cash Flow

$12.58M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue	$499.3M	$699.7M	$718.1M	$382.9M	$412.2M	$373.0M	$385.1M	$238.0M	$287.3M	$398.3M	$392.5M
YoY Change	-28.65%	-2.56%	87.55%	-7.11%	10.52%	-3.15%	61.79%	-17.16%	-27.86%	1.48%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue	$499.3M	$699.7M	$718.1M	$382.9M	$412.2M	$373.0M	$385.1M	$238.0M	$287.3M	$398.3M	$392.5M
Cost Of Revenue	$344.3M	$484.4M	$554.6M	$289.7M	$298.4M	$262.1M	$293.4M	$167.3M	$201.6M	$339.1M
Gross Profit	$155.0M	$215.3M	$163.5M	$93.20M	$113.8M	$110.9M	$92.50M	$70.70M	$85.80M	$59.10M
Gross Profit Margin	31.04%	30.77%	22.77%	24.34%	27.61%	29.73%	24.02%	29.7%	29.86%	14.84%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Selling, General & Admin	$22.78M	$20.10M	$18.97M	$15.90M	$17.40M	$16.50M	$15.20M	$12.80M	$15.00M	$12.80M	$100.0K
YoY Change	13.32%	5.99%	19.29%	-8.62%	5.45%	8.55%	18.75%	-14.67%	17.19%	12700.0%
% of Gross Profit	14.7%	9.34%	11.6%	17.06%	15.29%	14.88%	16.43%	18.1%	17.48%	21.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$30.07M	$29.49M	$22.97M	$17.06M	$18.53M	$17.62M	$15.61M	$14.11M	$12.73M	$11.67M	$9.615M
YoY Change	1.97%	28.36%	34.7%	-7.96%	5.16%	12.85%	10.68%	10.82%	9.11%	21.36%
% of Gross Profit	19.4%	13.7%	14.05%	18.3%	16.28%	15.89%	16.88%	19.95%	14.84%	19.74%
Operating Expenses	$108.6M	$594.2M	$639.2M	$363.2M	$388.9M	$336.9M	$369.9M	$225.1M	$266.8M	$400.8M	$371.1M
YoY Change	-81.72%	-7.04%	76.0%	-6.62%	15.45%	-8.93%	64.32%	-15.62%	-33.43%	8.0%
Operating Profit	$46.36M	$105.5M	$78.87M	$19.70M	$23.26M	$36.07M	$16.03M	$12.89M	$20.53M	-$2.494M	$21.38M
YoY Change	-56.06%	33.77%	300.43%	-15.31%	-35.52%	125.07%	24.31%	-37.19%	-923.02%	-111.66%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Interest Expense	-$18.12M	-$14.41M	-$6.443M	-$8.700M	-$11.10M	$8.694M	$7.954M	$5.423M	$5.420M	$5.644M	$5.487M
YoY Change	25.75%	123.61%	-25.94%	-21.62%	-227.67%	9.31%	46.67%	0.06%	-3.97%	2.86%
% of Operating Profit	-39.08%	-13.66%	-8.17%	-44.17%	-47.73%	24.1%	49.63%	42.07%	26.4%		25.66%
Other Income/Expense, Net	$299.3K	-$20.00M	-$6.499M	-$7.005M	-$6.209M	-$12.09M	-$6.925M	-$158.5K	-$926.8K	-$3.693M	$45.94K
YoY Change	-101.5%	207.77%	-7.23%	12.81%	-48.64%	74.56%	4268.6%	-82.89%	-74.91%	-8139.53%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Pretax Income	$28.54M	$85.51M	$72.37M	$12.70M	$17.00M	$24.00M	$9.100M	$9.200M	$13.40M	-$13.60M	-$100.0K
YoY Change	-66.63%	18.15%	469.87%	-25.29%	-29.17%	163.74%	-1.09%	-31.34%	-198.53%	13500.0%
Income Tax	$417.0K	$443.0K	$605.0K	$578.0K	$458.0K	$356.0K	$428.0K	$198.0K	$373.0K	$364.0K	$263.0K
% Of Pretax Income	1.46%	0.52%	0.84%	4.55%	2.69%	1.48%	4.7%	2.15%	2.78%
Net Earnings	$26.32M	$79.49M	$67.23M	$11.35M	$11.66M	$17.76M	$7.813M	$7.457M	$11.28M	-$12.13M	$15.45M
YoY Change	-66.89%	18.24%	492.19%	-2.62%	-34.35%	127.28%	4.77%	-33.87%	-192.97%	-178.49%
Net Earnings / Revenue	5.27%	11.36%	9.36%	2.96%	2.83%	4.76%	2.03%	3.13%	3.92%	-3.05%	3.94%
Basic Earnings Per Share	$0.59	$1.79	$1.53	$0.26	$0.27	$0.42	$0.20	$0.21	$0.32	-$1.61	-$0.65
Diluted Earnings Per Share	$0.58	$1.76	$1.50	$0.26	$0.27	$0.42	$0.20	$0.21	$0.32	-$1.61	-$0.65

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Cash & Short-Term Investments	$99.04M	$128.4M	$56.21M	$46.90M	$50.60M	$53.60M	$34.50M	$22.30M	$37.50M	$29.80M	$500.0K
YoY Change	-22.86%	128.41%	19.85%	-7.31%	-5.6%	55.36%	54.71%	-40.53%	25.84%	5860.0%
Cash & Equivalents	$48.76M	$79.69M	$35.19M	$18.40M	$32.20M	$13.80M	$21.00M	$6.500M	$28.50M	$24.20M
Short-Term Investments
Other Short-Term Assets	$22.56M	$20.55M	$29.34M	$14.20M	$20.60M	$9.700M	$5.900M	$12.50M	$4.600M	$12.10M	$0.00
YoY Change	9.82%	-29.97%	106.6%	-31.07%	112.37%	64.41%	-52.8%	171.74%	-61.98%
Inventory	$16.56M	$29.10M	$27.15M	$16.00M	$21.00M	$19.20M	$15.40M	$13.20M	$7.500M	$15.60M
Prepaid Expenses
Receivables	$47.89M	$36.76M	$54.26M	$29.20M	$28.30M	$28.50M	$21.10M	$20.50M	$19.60M	$27.40M
Other Receivables	$5.778M	$7.721M	$17.01M	$6.800M	$6.500M	$2.500M	$6.100M	$0.00	$0.00	$0.00
Total Short-Term Assets	$191.8M	$222.5M	$184.0M	$113.0M	$127.0M	$113.5M	$83.00M	$68.50M	$69.30M	$84.90M	$500.0K
YoY Change	-13.79%	20.95%	62.8%	-11.02%	11.89%	36.75%	21.17%	-1.15%	-18.37%	16880.0%
Property, Plant & Equipment	$504.7M	$520.4M	$517.1M	$337.4M	$350.4M	$281.9M	$306.3M	$293.6M	$297.7M	$246.1M
YoY Change	-3.03%	0.65%	53.26%	-3.71%	24.3%	-7.97%	4.33%	-1.38%	20.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$3.813M
YoY Change
Other Assets		$5.284M	$5.952M	$0.00	$2.500M	$58.10M	$34.00M		$0.00	$600.0K	$98.50M
YoY Change		-11.22%		-100.0%	-95.7%	70.88%			-100.0%	-99.39%
Total Long-Term Assets	$513.4M	$525.7M	$523.1M	$337.4M	$352.9M	$340.0M	$340.3M	$293.7M	$297.7M	$246.8M	$98.60M
YoY Change	-2.35%	0.51%	55.03%	-4.39%	3.79%	-0.09%	15.87%	-1.34%	20.62%	150.3%
Total Assets	$705.2M	$748.2M	$707.0M	$450.4M	$479.9M	$453.5M	$423.3M	$362.2M	$367.0M	$331.7M	$99.10M
YoY Change
Accounts Payable	$6.278M	$9.979M	$21.09M	$18.70M	$24.20M	$19.90M	$15.70M	$15.40M	$14.10M	$33.50M	$0.00
YoY Change	-37.09%	-52.68%	12.78%	-22.73%	21.61%	26.75%	1.95%	9.22%	-57.91%
Accrued Expenses	$17.05M	$12.71M	$16.25M	$11.20M	$15.30M	$8.800M	$13.50M	$7.800M	$8.100M	$6.700M
YoY Change	34.16%	-21.81%	45.13%	-26.8%	73.86%	-34.81%	73.08%	-3.7%	20.9%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$242.9K	$200.0K	$300.0K	$2.900M	$7.000M	$16.00M	$13.30M	$59.10M	$0.00
YoY Change		-100.0%	21.43%	-33.33%	-89.66%	-58.57%	-56.25%	20.3%	-77.5%
Long-Term Debt Due	$52.72M	$32.15M	$29.92M	$64.40M	$35.50M	$25.50M	$20.80M	$19.60M	$19.50M	$17.80M
YoY Change	64.0%	7.43%	-53.54%	81.41%	39.22%	22.6%	6.12%	0.51%	9.55%
Total Short-Term Liabilities	$105.3M	$92.21M	$111.7M	$110.8M	$90.90M	$79.00M	$70.00M	$77.90M	$72.20M	$144.7M	$0.00
YoY Change	14.23%	-17.48%	0.85%	21.89%	15.06%	12.86%	-10.14%	7.89%	-50.1%
Long-Term Debt	$211.7M	$267.3M	$276.8M	$95.00M	$141.1M	$141.1M	$142.6M	$107.6M	$129.5M	$86.60M	$0.00
YoY Change	-20.81%	-3.42%	191.36%	-32.67%	0.0%	-1.05%	32.53%	-16.91%	49.54%
Other Long-Term Liabilities	$17.94M	$19.97M	$17.81M	$10.10M	$4.800M
YoY Change	-10.2%	12.17%	76.31%	110.42%
Total Long-Term Liabilities	$229.6M	$287.3M	$294.6M	$105.1M	$145.9M	$141.1M	$142.6M	$107.6M	$129.5M	$86.60M	$0.00
YoY Change	-20.07%	-2.48%	180.31%	-27.96%	3.4%	-1.05%	32.53%	-16.91%	49.54%
Total Liabilities	$381.3M	$434.0M	$459.8M	$267.6M	$309.7M	$291.8M	$277.9M	$245.9M	$258.8M	$233.8M	$0.00
YoY Change	-12.15%	-5.61%	71.83%	-13.59%	6.13%	5.0%	13.01%	-4.98%	10.69%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Basic Shares Outstanding	44.77M shares	44.40M shares	44.00M shares	43.42M shares	42.75M shares	42.25M shares	38.41M shares	35.16M shares	34.78M shares	18.73M shares
Diluted Shares Outstanding	45.48M shares	45.06M shares	44.85M shares	43.82M shares	43.27M shares	42.78M shares	38.93M shares	35.38M shares	34.96M shares	18.73M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $259.84 Million

About Pangaea Logistics Solutions Ltd.

Pangaea Logistics Solutions Ltd. engages in the provision of seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company is headquartered in Newport, Rhode Island and currently employs 151 full-time employees. The company went IPO on 2013-12-16. The firm offers services to a base of industrial customers who require the transportation of a variety of drybulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The firm provides ocean transportation services to clients utilizing an ocean-going fleet of motor vessels (m/v) in the Handymax, Supramax, Ultramax and Panamax and Post-Panamax segments. The firm operates 26 vessels which are wholly owned or partially-owned through joint ventures. The firm provides logistics services and commercially manages its fleet primarily from offices in Newport, Rhode Island, Copenhagen, Denmark and Singapore. Its logistics services and activities include cargo loading, cargo discharge, vessel chartering, voyage planning, and technical vessel management.

Industry: Deep Sea Foreign Transportation of Freight Peers: Matson, Inc. Eagle Bulk Shipping Inc. GENCO SHIPPING & TRADING LTD KIRBY CORP