Icon Energy Corp. (ICON) 10-Year Financial Performance & Capital Metrics

ICON • • Industrial / General

IndustrialsMarine ShippingDry Bulk ShippingDry Bulk Operators

AboutIcon Energy Corp. operates as an international shipping company. The Company focuses on acquiring, owning, chartering, and operating dry bulk vessels, as well as offers sea-borne transportation services for dry bulk cargo, including iron ore, coal, grains and bauxite, steel, sugar, fertilizers, cement, and scrap metal.Show more

Revenue $5M +18.6%
EBITDA $2M -15.4%
Net Income -$210K -118.2%
EPS (Diluted) -0.17 -118.1%
Gross Margin 27.63% -62.3%
EBITDA Margin 34.13% -28.7%
Operating Margin 3.2% -87.0%
Net Margin -3.96% -115.3%
ROE -2.01% -120.4%
ROIC 0.77% -92.0%
Debt/Equity 1.36
Interest Coverage 0.38 -99.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 91 (top 9%)
✓Healthy 5Y average net margin of 34.0%
✓Trading at only 0.3x book value

✗Weaknesses

✗Negative free cash flow
✗Sales declining 48.7% over 5 years
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-36.01%

5Y-48.67%

3Y-3.79%

TTM-77.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-195.75%

EPS CAGR

10Y-

5Y-

3Y-

TTM-449.14%

ROCE

10Y Avg8%

5Y Avg6.92%

3Y Avg13.86%

Latest0.98%

Peer Comparison

Dry Bulk Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GLBSGlobus Maritime Limited	35.4M	1.72	82.30	11.74%	-16.48%	-3.41%		0.78
DSXDiana Shipping Inc.	241.98M	2.09	35.54	-12.93%	11.18%	4.89%	24.5%	1.26
HSHPHimalaya Shipping Ltd.	421.25M	9.03	18.81	236.4%	4.39%	3.28%		4.61
GNKGenco Shipping & Trading Limited	859.67M	19.88	11.36	10.21%	-2.14%	-0.8%	8.16%	0.10
PANLPangaea Logistics Solutions, Ltd.	455.47M	7.01	11.13	7.46%	2.67%	3.42%		0.84
SBLKStar Bulk Carriers Corp.	2.38B	20.90	7.46	33.31%	5.85%	2.54%	17.33%	0.59
SBSafe Bulkers, Inc.	533.13M	5.21	6.28	8.17%	16.78%	5.58%		0.65
SHIPSeanergy Maritime Holdings Corp.	199.32M	9.44	4.47	51.91%	10.23%	5.86%	0.47%	0.98

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	379.2M	368.46M	225.83M	187.69M	148.98M	0	5.96M	7.24M	4.48M	5.31M
Revenue Growth %	-0.18%	-0.03%	-0.39%	-0.17%	-0.21%	-1%	-	0.21%	-0.38%	0.19%
Cost of Goods Sold+	0	0	0	0	0	0	851K	1.31M	1.2M	3.84M
COGS % of Revenue	-	-	-	-	-	-	0.14%	0.18%	0.27%	0.72%
Gross Profit+	379.2M	368.46M	225.83M	187.69M	148.98M	0	5.11M	5.93M	3.28M	1.47M
Gross Margin %	1%	1%	1%	1%	1%	-	0.86%	0.82%	0.73%	0.28%
Gross Profit Growth %	-0.18%	-0.03%	-0.39%	-0.17%	-0.21%	-1%	-	0.16%	-0.45%	-0.55%
Operating Expenses+	209.67M	171.95M	144.55M	133.04M	85.81M	84M	1.8M	1.71M	2.17M	1.3M
OpEx % of Revenue	0.55%	0.47%	0.64%	0.71%	0.58%	-	0.3%	0.24%	0.49%	0.24%
Selling, General & Admin	209.67M	206.59M	114.61M	121.43M	84M	84M	11K	12K	18K	345K
SG&A % of Revenue	0.55%	0.56%	0.51%	0.65%	0.56%	-	0%	0%	0%	0.06%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-34.64M	29.94M	11.61M	1.82M	0	5K	14K	2.15M	952K
Operating Income+	169.53M	196.51M	81.29M	54.65M	63.17M	-30.78M	3.31M	4.22M	1.1M	170K
Operating Margin %	0.45%	0.53%	0.36%	0.29%	0.42%	-	0.56%	0.58%	0.25%	0.03%
Operating Income Growth %	-0.34%	0.16%	-0.59%	-0.33%	0.16%	-1.49%	1.11%	0.27%	-0.74%	-0.85%
EBITDA+	174.25M	199.98M	83.74M	56.98M	64.99M	-29.58M	3.85M	5.26M	2.14M	1.81M
EBITDA Margin %	0.46%	0.54%	0.37%	0.3%	0.44%	-	0.65%	0.73%	0.48%	0.34%
EBITDA Growth %	-0.34%	0.15%	-0.58%	-0.32%	0.14%	-1.46%	1.13%	0.37%	-0.59%	-0.15%
D&A (Non-Cash Add-back)	4.72M	3.46M	2.46M	2.33M	1.82M	1.2M	541K	1.04M	1.04M	1.64M
EBIT	-198.04M	-228.46M	-585.53M	-23.92M	-36.57M	-26.14M	3.32M	4.25M	1.16M	242K
Net Interest Income+	0	0	0	0	-57.26M	-67.69M	2K	10K	53K	-380K
Interest Income	0	0	0	0	0	0	4K	13K	56K	72K
Interest Expense	86.23M	97.54M	67.9M	59.21M	57.26M	67.69M	2K	3K	3K	452K
Other Income/Expense	-453.81M	-522.52M	-734.72M	-137.78M	-166.6M	-63.05M	7K	24K	50K	-380K
Pretax Income+	-284.27M	-326M	-653.43M	-83.13M	-103.43M	-93.83M	3.32M	4.24M	1.16M	-210K
Pretax Margin %	-0.75%	-0.88%	-2.89%	-0.44%	-0.69%	-	0.56%	0.59%	0.26%	-0.04%
Income Tax+	-95.34M	-76.49M	-95.98M	6.54M	8.08M	8.08M	0	0	0	0
Effective Tax Rate %	0.67%	0.77%	0.75%	1.21%	1.08%	1.09%	1%	1%	1%	1%
Net Income+	-189.3M	-252.13M	-489.25M	-100.52M	-111.51M	-101.92M	3.32M	4.24M	1.16M	-210K
Net Margin %	-0.5%	-0.68%	-2.17%	-0.54%	-0.75%	-	0.56%	0.59%	0.26%	-0.04%
Net Income Growth %	-2.24%	-0.33%	-0.94%	0.79%	-0.11%	0.09%	1.03%	0.28%	-0.73%	-1.18%
Net Income (Continuing)	-189.3M	-252.13M	-489.25M	-100.52M	-111.51M	-101.92M	3.32M	4.24M	1.16M	-210K
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-39.20	-48.17	-85.67	-14.93	-10.56	-15.57	2.70	3.45	0.94	-0.17
EPS Growth %	-2.47%	-0.23%	-0.78%	0.83%	0.29%	-0.47%	1.17%	0.28%	-0.73%	-1.18%
EPS (Basic)	-39.20	-48.17	-85.67	-14.93	-10.56	-10.56	2.70	3.45	0.94	-0.17
Diluted Shares Outstanding	4.83M	5.23M	5.71M	6.73M	10.56M	6.54M	1.23M	1.23M	1.23M	1.23M
Basic Shares Outstanding	4.83M	5.23M	5.71M	6.73M	10.56M	9.65M	1.23M	1.23M	1.23M	1.23M
Dividend Payout Ratio	-	-	-	-	-	-	0.35%	0.62%	2.86%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	369.8M	444.14M	233.17M	153.16M	133.67M	100.03M	2.97M	4.04M	3.02M	1.29M
Cash & Short-Term Investments	169.97M	149.41M	65.93M	66.61M	55.47M	65.54M	2.42M	3.55M	2.7M	946K
Cash Only	169.97M	149.41M	65.93M	66.61M	55.47M	49.8M	2.42M	3.55M	2.7M	946K
Short-Term Investments	0	0	0	0	0	15.75M	0	0	0	0
Accounts Receivable	119.41M	95.88M	77.25M	63.13M	57.02M	24.74M	393K	285K	207K	0
Days Sales Outstanding	114.94	94.98	124.86	122.78	139.69	-	24.06	14.37	16.88	-
Inventory	0	0	0	0	0	0	55K	134K	57K	133K
Days Inventory Outstanding	-	-	-	-	-	-	23.59	37.34	17.35	12.64
Other Current Assets	80.42M	198.85M	89.99M	23.42M	21.18M	9.75M	42K	25K	13K	39K
Total Non-Current Assets+	2.15B	1.56B	637.35M	478.91M	372.39M	272.88M	11.6M	10.56M	9.86M	27.5M
Property, Plant & Equipment	7.5M	9.35M	6.09M	4.88M	8.8M	0	10.54M	9.86M	9.2M	26.1M
Fixed Asset Turnover	50.57x	39.43x	37.06x	38.45x	16.94x	-	0.57x	0.73x	0.49x	0.20x
Goodwill	257.1M	224.28M	63.88M	26.1M	26.1M	26.1M	0	0	0	0
Intangible Assets	1.7B	1.21B	465.72M	337.7M	274.08M	246.79M	0	0	0	0
Long-Term Investments	147.31M	99.4M	90.89M	89.69M	44.83M	15.75M	0	0	0	0
Other Non-Current Assets	43.76M	19.22M	6.27M	20.54M	18.59M	-15.75M	1.06M	697K	657K	1.41M
Total Assets+	2.52B	2.01B	870.51M	632.08M	506.06M	372.92M	14.57M	14.6M	12.88M	28.8M
Asset Turnover	0.15x	0.18x	0.26x	0.30x	0.29x	-	0.41x	0.50x	0.35x	0.18x
Asset Growth %	-0.12%	-0.2%	-0.57%	-0.27%	-0.2%	-0.26%	-0.96%	0%	-0.12%	1.24%
Total Current Liabilities+	145.92M	254.07M	112.65M	114.31M	131.96M	67.24M	1.85M	276K	3.71M	3.33M
Accounts Payable	0	0	0	0	0	29.85M	1.36M	179K	85K	394K
Days Payables Outstanding	-	-	-	-	-	-	581.6	49.87	25.88	37.43
Short-Term Debt	61.12M	160.44M	44.35M	54.26M	61.98M	28.43M	0	0	0	2.21M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	209K	0	247K	135K
Other Current Liabilities	55.63M	73.47M	62.77M	54.64M	65.28M	3.86M	0	0	0	0
Current Ratio	2.53x	1.75x	2.07x	1.34x	1.01x	1.49x	1.60x	14.63x	0.81x	0.39x
Quick Ratio	2.53x	1.75x	2.07x	1.34x	1.01x	1.49x	1.57x	14.15x	0.80x	0.35x
Cash Conversion Cycle	-	-	-	-	-	-	-533.94	1.83	8.36	-
Total Non-Current Liabilities+	1.68B	1.26B	808.84M	663.5M	630.46M	28.43M	0	0	0	13.72M
Long-Term Debt	1.4B	1.09B	756.49M	620.97M	583.75M	28.43M	0	0	0	13.72M
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	183.57M	86.1M	11.47M	4.57M	4.46M	0	0	0	0	0
Other Non-Current Liabilities	94.32M	76.97M	40.88M	37.97M	42.26M	0	0	0	0	0
Total Liabilities	1.83B	1.51B	921.49M	777.81M	762.42M	637M	1.85M	276K	3.71M	17.05M
Total Debt+	1.46B	1.25B	800.84M	675.23M	645.72M	56.87M	0	0	0	15.93M
Net Debt	1.29B	1.1B	734.91M	608.62M	590.26M	7.07M	-2.42M	-3.55M	-2.7M	14.98M
Debt / Equity	1.91x	2.27x	-	-	-	-	-	-	-	1.36x
Debt / EBITDA	8.40x	6.27x	9.56x	11.85x	9.94x	-	-	-	-	8.79x
Net Debt / EBITDA	7.43x	5.52x	8.78x	10.68x	9.08x	-	-0.63x	-0.68x	-1.26x	8.27x
Interest Coverage	1.97x	2.01x	1.20x	0.92x	1.10x	-0.45x	1655.00x	1406.00x	368.33x	0.38x
Total Equity+	764.81M	551.37M	-20.69M	-111.6M	-221.9M	-224.27M	12.72M	14.32M	9.17M	11.75M
Equity Growth %	-0.28%	-0.28%	-1.04%	-4.39%	-0.99%	-0.01%	1.06%	0.13%	-0.36%	0.28%
Book Value per Share	158.37	105.35	-3.62	-16.57	-21.02	-34.27	10.34	11.64	7.45	9.55
Total Shareholders' Equity	764.81M	551.37M	-20.69M	-111.6M	-221.9M	-224.27M	12.72M	14.32M	9.17M	11.75M
Common Stock	80K	89K	90K	11K	15K	16K	0	0	0	0
Retained Earnings	514.76M	254.91M	-223.72M	-312.8M	-429.12M	0	2.15M	2.73M	577K	128K
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-60.89M	-70.43M	-51.28M	-53.07M	-54.64M	-42.63M	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	190.24M	122.18M	2.07M	56.08M	30.31M	20.42M	4.08M	3.99M	2.5M	864K
Operating CF Margin %	0.5%	0.33%	0.01%	0.3%	0.2%	-	0.68%	0.55%	0.56%	0.16%
Operating CF Growth %	0.17%	-0.36%	-0.98%	26.04%	-0.46%	-0.33%	-0.8%	-0.02%	-0.37%	-0.66%
Net Income	-189.3M	-252.13M	-489.25M	-100.52M	-111.51M	-101.92M	3.32M	4.24M	1.16M	-210K
Depreciation & Amortization	4.72M	3.46M	2.46M	2.33M	1.82M	1.2M	541K	1.04M	1.04M	1.64M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-112.84M	-95.58M	-104.17M	-2M	-80K	731K	0	0	0	0
Other Non-Cash Items	440.23M	439.23M	613.93M	132.09M	131.03M	108.02M	-617K	-456K	0	-875K
Working Capital Changes	35.98M	20.39M	-29.63M	26.59M	8.08M	11.59M	840K	-837K	313K	307K
Change in Receivables	-12.89M	4.16M	-6.48M	13.1M	6.93M	4.02M	-43K	-74K	78K	207K
Change in Inventory	0	0	-43.09M	13.57M	0	0	-55K	-79K	77K	-76K
Change in Payables	0	0	23.21M	204K	0	0	787K	-608K	-94K	100K
Cash from Investing+	-153.04M	170.16M	330.51M	-5.66M	12.07M	77.14M	-491K	-225K	-22K	-18.02M
Capital Expenditures	-5.37M	-9.66M	-1.08M	-3.29M	-6.63M	-602K	-491K	-225K	-22K	-18.02M
CapEx % of Revenue	0.01%	0.03%	0%	0.02%	0.04%	-	0.08%	0.03%	0%	3.4%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	4.73M	15.13M	339.76M	3.91M	0	77.74M	0	0	0	0
Cash from Financing+	9.89M	-309.88M	-418.91M	-81.79M	-53.84M	-110.34M	-1.17M	-2.64M	-3.33M	15.9M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	-1.17M	-2.64M	-3.31M	-239K
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	9.89M	-309.88M	-418.91M	-81.79M	-53.84M	-110.34M	0	0	-25K	-1.62M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	184.87M	112.51M	992K	52.79M	23.68M	19.82M	3.59M	3.76M	2.48M	-17.16M
FCF Margin %	0.49%	0.31%	0%	0.28%	0.16%	-	0.6%	0.52%	0.55%	-3.23%
FCF Growth %	0.15%	-0.39%	-0.99%	52.22%	-0.55%	-0.16%	-0.82%	0.05%	-0.34%	-7.91%
FCF per Share	38.28	21.50	0.17	7.84	2.24	3.03	2.92	3.06	2.02	-13.95
FCF Conversion (FCF/Net Income)	-1.00x	-0.48x	-0.00x	-0.56x	-0.27x	-0.20x	1.23x	0.94x	2.17x	-4.11x
Interest Paid	0	0	0	0	0	0	0	0	0	407K
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-20.65%	-38.31%	-184.39%	-	-	-	26.08%	31.38%	9.83%	-2.01%
Return on Invested Capital (ROIC)	5.79%	7.93%	5.14%	6.77%	10.95%	-30.54%	-	30.04%	9.62%	0.77%
Gross Margin	100%	100%	100%	100%	100%	-	85.72%	81.91%	73.21%	27.63%
Net Margin	-49.92%	-68.43%	-216.64%	-53.56%	-74.85%	-	55.65%	58.58%	25.8%	-3.96%
Debt / Equity	1.91x	2.27x	-	-	-	-	-	-	-	1.36x
Interest Coverage	1.97x	2.01x	1.20x	0.92x	1.10x	-0.45x	1655.00x	1406.00x	368.33x	0.38x
FCF Conversion	-1.00x	-0.48x	-0.00x	-0.56x	-0.27x	-0.20x	1.23x	0.94x	2.17x	-4.11x
Revenue Growth	-17.79%	-2.83%	-38.71%	-16.89%	-20.62%	-100%	-	21.47%	-38.19%	18.61%

Revenue by Segment

	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
Wholesale License	203.52M	165.08M	225.19M	-	170.71M	168.46M	105.04M	112.77M	105.06M	76.47M
Wholesale License Growth	-	-18.89%	36.41%	-	-	-1.32%	-37.65%	7.36%	-6.84%	-27.21%
Direct To Retail License	139.68M	150.25M	147.85M	-	154.28M	144.07M	120.56M	71.61M	42.82M	31.07M
Direct To Retail License Growth	-	7.56%	-1.60%	-	-	-6.61%	-16.32%	-40.60%	-40.21%	-27.45%
Other Licenses	-	-	-	-	54.21M	55.93M	237K	-	-	-
Other Licenses Growth	-	-	-	-	-	3.17%	-99.58%	-	-	-
Entertainment And Other	26.64M	38.49M	59.59M	-	-	-	-	-	-	-
Entertainment And Other Growth	-	44.45%	54.83%	-	-	-	-	-	-	-

Revenue by Geography

	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
UNITED STATES	-	-	-	293.13M	-	229.64M	163.81M	120.4M	88.44M	65M
UNITED STATES Growth	-	-	-	-	-	-	-28.67%	-26.50%	-26.54%	-26.51%
Other Countries	67.22M	43.48M	110.27M	137.94M	94.35M	93.61M	62.02M	67.29M	60.54M	43.58M
Other Countries Growth	-	-35.31%	153.60%	25.09%	-31.60%	-0.79%	-33.74%	8.49%	-10.03%	-28.02%
JAPAN	-	-	-	30.17M	-	45.21M	-	-	-	-
JAPAN Growth	-	-	-	-	-	-	-	-	-	-
U S	302.63M	273.9M	292.62M	-	250.21M	-	-	-	-	-
U S Growth	-	-9.49%	6.83%	-	-	-	-	-	-	-
J P	-	36.43M	29.73M	-	34.64M	-	-	-	-	-
J P Growth	-	-	-18.38%	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Icon Energy Corp. (ICON) reported $6.1M in revenue for fiscal year 2024. This represents a 98% decrease from $369.8M in 2011.

Icon Energy Corp. (ICON) grew revenue by 18.6% over the past year. This is strong growth.

Icon Energy Corp. (ICON) reported a net loss of $4.9M for fiscal year 2024.

Dividend & Returns

Yes, Icon Energy Corp. (ICON) pays a dividend with a yield of 8.06%. This makes it attractive for income-focused investors.

Icon Energy Corp. (ICON) has a return on equity (ROE) of -2.0%. Negative ROE indicates the company is unprofitable.

Icon Energy Corp. (ICON) had negative free cash flow of $24.2M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Icon Energy Corp. (ICON) 10-Year Financial Performance & Capital Metrics

ICON • • Industrial / General

IndustrialsMarine ShippingDry Bulk ShippingDry Bulk Operators

Revenue $5M +18.6%
EBITDA $2M -15.4%
Net Income -$210K -118.2%
EPS (Diluted) -0.17 -118.1%
Gross Margin 27.63% -62.3%
EBITDA Margin 34.13% -28.7%
Operating Margin 3.2% -87.0%
Net Margin -3.96% -115.3%
ROE -2.01% -120.4%
ROIC 0.77% -92.0%
Debt/Equity 1.36
Interest Coverage 0.38 -99.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 91 (top 9%)
✓Healthy 5Y average net margin of 34.0%
✓Trading at only 0.3x book value

✗Weaknesses

✗Negative free cash flow
✗Sales declining 48.7% over 5 years
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-36.01%

5Y-48.67%

3Y-3.79%

TTM-77.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-195.75%

EPS CAGR

10Y-

5Y-

3Y-

TTM-449.14%

ROCE

10Y Avg8%

5Y Avg6.92%

3Y Avg13.86%

Latest0.98%

Peer Comparison

Dry Bulk Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GLBSGlobus Maritime Limited	35.4M	1.72	82.30	11.74%	-16.48%	-3.41%		0.78
DSXDiana Shipping Inc.	241.98M	2.09	35.54	-12.93%	11.18%	4.89%	24.5%	1.26
HSHPHimalaya Shipping Ltd.	421.25M	9.03	18.81	236.4%	4.39%	3.28%		4.61
GNKGenco Shipping & Trading Limited	859.67M	19.88	11.36	10.21%	-2.14%	-0.8%	8.16%	0.10
PANLPangaea Logistics Solutions, Ltd.	455.47M	7.01	11.13	7.46%	2.67%	3.42%		0.84
SBLKStar Bulk Carriers Corp.	2.38B	20.90	7.46	33.31%	5.85%	2.54%	17.33%	0.59
SBSafe Bulkers, Inc.	533.13M	5.21	6.28	8.17%	16.78%	5.58%		0.65
SHIPSeanergy Maritime Holdings Corp.	199.32M	9.44	4.47	51.91%	10.23%	5.86%	0.47%	0.98

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	379.2M	368.46M	225.83M	187.69M	148.98M	0	5.96M	7.24M	4.48M	5.31M
Revenue Growth %	-0.18%	-0.03%	-0.39%	-0.17%	-0.21%	-1%	-	0.21%	-0.38%	0.19%
Cost of Goods Sold+	0	0	0	0	0	0	851K	1.31M	1.2M	3.84M
COGS % of Revenue	-	-	-	-	-	-	0.14%	0.18%	0.27%	0.72%
Gross Profit+	379.2M	368.46M	225.83M	187.69M	148.98M	0	5.11M	5.93M	3.28M	1.47M
Gross Margin %	1%	1%	1%	1%	1%	-	0.86%	0.82%	0.73%	0.28%
Gross Profit Growth %	-0.18%	-0.03%	-0.39%	-0.17%	-0.21%	-1%	-	0.16%	-0.45%	-0.55%
Operating Expenses+	209.67M	171.95M	144.55M	133.04M	85.81M	84M	1.8M	1.71M	2.17M	1.3M
OpEx % of Revenue	0.55%	0.47%	0.64%	0.71%	0.58%	-	0.3%	0.24%	0.49%	0.24%
Selling, General & Admin	209.67M	206.59M	114.61M	121.43M	84M	84M	11K	12K	18K	345K
SG&A % of Revenue	0.55%	0.56%	0.51%	0.65%	0.56%	-	0%	0%	0%	0.06%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-34.64M	29.94M	11.61M	1.82M	0	5K	14K	2.15M	952K
Operating Income+	169.53M	196.51M	81.29M	54.65M	63.17M	-30.78M	3.31M	4.22M	1.1M	170K
Operating Margin %	0.45%	0.53%	0.36%	0.29%	0.42%	-	0.56%	0.58%	0.25%	0.03%
Operating Income Growth %	-0.34%	0.16%	-0.59%	-0.33%	0.16%	-1.49%	1.11%	0.27%	-0.74%	-0.85%
EBITDA+	174.25M	199.98M	83.74M	56.98M	64.99M	-29.58M	3.85M	5.26M	2.14M	1.81M
EBITDA Margin %	0.46%	0.54%	0.37%	0.3%	0.44%	-	0.65%	0.73%	0.48%	0.34%
EBITDA Growth %	-0.34%	0.15%	-0.58%	-0.32%	0.14%	-1.46%	1.13%	0.37%	-0.59%	-0.15%
D&A (Non-Cash Add-back)	4.72M	3.46M	2.46M	2.33M	1.82M	1.2M	541K	1.04M	1.04M	1.64M
EBIT	-198.04M	-228.46M	-585.53M	-23.92M	-36.57M	-26.14M	3.32M	4.25M	1.16M	242K
Net Interest Income+	0	0	0	0	-57.26M	-67.69M	2K	10K	53K	-380K
Interest Income	0	0	0	0	0	0	4K	13K	56K	72K
Interest Expense	86.23M	97.54M	67.9M	59.21M	57.26M	67.69M	2K	3K	3K	452K
Other Income/Expense	-453.81M	-522.52M	-734.72M	-137.78M	-166.6M	-63.05M	7K	24K	50K	-380K
Pretax Income+	-284.27M	-326M	-653.43M	-83.13M	-103.43M	-93.83M	3.32M	4.24M	1.16M	-210K
Pretax Margin %	-0.75%	-0.88%	-2.89%	-0.44%	-0.69%	-	0.56%	0.59%	0.26%	-0.04%
Income Tax+	-95.34M	-76.49M	-95.98M	6.54M	8.08M	8.08M	0	0	0	0
Effective Tax Rate %	0.67%	0.77%	0.75%	1.21%	1.08%	1.09%	1%	1%	1%	1%
Net Income+	-189.3M	-252.13M	-489.25M	-100.52M	-111.51M	-101.92M	3.32M	4.24M	1.16M	-210K
Net Margin %	-0.5%	-0.68%	-2.17%	-0.54%	-0.75%	-	0.56%	0.59%	0.26%	-0.04%
Net Income Growth %	-2.24%	-0.33%	-0.94%	0.79%	-0.11%	0.09%	1.03%	0.28%	-0.73%	-1.18%
Net Income (Continuing)	-189.3M	-252.13M	-489.25M	-100.52M	-111.51M	-101.92M	3.32M	4.24M	1.16M	-210K
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-39.20	-48.17	-85.67	-14.93	-10.56	-15.57	2.70	3.45	0.94	-0.17
EPS Growth %	-2.47%	-0.23%	-0.78%	0.83%	0.29%	-0.47%	1.17%	0.28%	-0.73%	-1.18%
EPS (Basic)	-39.20	-48.17	-85.67	-14.93	-10.56	-10.56	2.70	3.45	0.94	-0.17
Diluted Shares Outstanding	4.83M	5.23M	5.71M	6.73M	10.56M	6.54M	1.23M	1.23M	1.23M	1.23M
Basic Shares Outstanding	4.83M	5.23M	5.71M	6.73M	10.56M	9.65M	1.23M	1.23M	1.23M	1.23M
Dividend Payout Ratio	-	-	-	-	-	-	0.35%	0.62%	2.86%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	369.8M	444.14M	233.17M	153.16M	133.67M	100.03M	2.97M	4.04M	3.02M	1.29M
Cash & Short-Term Investments	169.97M	149.41M	65.93M	66.61M	55.47M	65.54M	2.42M	3.55M	2.7M	946K
Cash Only	169.97M	149.41M	65.93M	66.61M	55.47M	49.8M	2.42M	3.55M	2.7M	946K
Short-Term Investments	0	0	0	0	0	15.75M	0	0	0	0
Accounts Receivable	119.41M	95.88M	77.25M	63.13M	57.02M	24.74M	393K	285K	207K	0
Days Sales Outstanding	114.94	94.98	124.86	122.78	139.69	-	24.06	14.37	16.88	-
Inventory	0	0	0	0	0	0	55K	134K	57K	133K
Days Inventory Outstanding	-	-	-	-	-	-	23.59	37.34	17.35	12.64
Other Current Assets	80.42M	198.85M	89.99M	23.42M	21.18M	9.75M	42K	25K	13K	39K
Total Non-Current Assets+	2.15B	1.56B	637.35M	478.91M	372.39M	272.88M	11.6M	10.56M	9.86M	27.5M
Property, Plant & Equipment	7.5M	9.35M	6.09M	4.88M	8.8M	0	10.54M	9.86M	9.2M	26.1M
Fixed Asset Turnover	50.57x	39.43x	37.06x	38.45x	16.94x	-	0.57x	0.73x	0.49x	0.20x
Goodwill	257.1M	224.28M	63.88M	26.1M	26.1M	26.1M	0	0	0	0
Intangible Assets	1.7B	1.21B	465.72M	337.7M	274.08M	246.79M	0	0	0	0
Long-Term Investments	147.31M	99.4M	90.89M	89.69M	44.83M	15.75M	0	0	0	0
Other Non-Current Assets	43.76M	19.22M	6.27M	20.54M	18.59M	-15.75M	1.06M	697K	657K	1.41M
Total Assets+	2.52B	2.01B	870.51M	632.08M	506.06M	372.92M	14.57M	14.6M	12.88M	28.8M
Asset Turnover	0.15x	0.18x	0.26x	0.30x	0.29x	-	0.41x	0.50x	0.35x	0.18x
Asset Growth %	-0.12%	-0.2%	-0.57%	-0.27%	-0.2%	-0.26%	-0.96%	0%	-0.12%	1.24%
Total Current Liabilities+	145.92M	254.07M	112.65M	114.31M	131.96M	67.24M	1.85M	276K	3.71M	3.33M
Accounts Payable	0	0	0	0	0	29.85M	1.36M	179K	85K	394K
Days Payables Outstanding	-	-	-	-	-	-	581.6	49.87	25.88	37.43
Short-Term Debt	61.12M	160.44M	44.35M	54.26M	61.98M	28.43M	0	0	0	2.21M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	209K	0	247K	135K
Other Current Liabilities	55.63M	73.47M	62.77M	54.64M	65.28M	3.86M	0	0	0	0
Current Ratio	2.53x	1.75x	2.07x	1.34x	1.01x	1.49x	1.60x	14.63x	0.81x	0.39x
Quick Ratio	2.53x	1.75x	2.07x	1.34x	1.01x	1.49x	1.57x	14.15x	0.80x	0.35x
Cash Conversion Cycle	-	-	-	-	-	-	-533.94	1.83	8.36	-
Total Non-Current Liabilities+	1.68B	1.26B	808.84M	663.5M	630.46M	28.43M	0	0	0	13.72M
Long-Term Debt	1.4B	1.09B	756.49M	620.97M	583.75M	28.43M	0	0	0	13.72M
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	183.57M	86.1M	11.47M	4.57M	4.46M	0	0	0	0	0
Other Non-Current Liabilities	94.32M	76.97M	40.88M	37.97M	42.26M	0	0	0	0	0
Total Liabilities	1.83B	1.51B	921.49M	777.81M	762.42M	637M	1.85M	276K	3.71M	17.05M
Total Debt+	1.46B	1.25B	800.84M	675.23M	645.72M	56.87M	0	0	0	15.93M
Net Debt	1.29B	1.1B	734.91M	608.62M	590.26M	7.07M	-2.42M	-3.55M	-2.7M	14.98M
Debt / Equity	1.91x	2.27x	-	-	-	-	-	-	-	1.36x
Debt / EBITDA	8.40x	6.27x	9.56x	11.85x	9.94x	-	-	-	-	8.79x
Net Debt / EBITDA	7.43x	5.52x	8.78x	10.68x	9.08x	-	-0.63x	-0.68x	-1.26x	8.27x
Interest Coverage	1.97x	2.01x	1.20x	0.92x	1.10x	-0.45x	1655.00x	1406.00x	368.33x	0.38x
Total Equity+	764.81M	551.37M	-20.69M	-111.6M	-221.9M	-224.27M	12.72M	14.32M	9.17M	11.75M
Equity Growth %	-0.28%	-0.28%	-1.04%	-4.39%	-0.99%	-0.01%	1.06%	0.13%	-0.36%	0.28%
Book Value per Share	158.37	105.35	-3.62	-16.57	-21.02	-34.27	10.34	11.64	7.45	9.55
Total Shareholders' Equity	764.81M	551.37M	-20.69M	-111.6M	-221.9M	-224.27M	12.72M	14.32M	9.17M	11.75M
Common Stock	80K	89K	90K	11K	15K	16K	0	0	0	0
Retained Earnings	514.76M	254.91M	-223.72M	-312.8M	-429.12M	0	2.15M	2.73M	577K	128K
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-60.89M	-70.43M	-51.28M	-53.07M	-54.64M	-42.63M	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	190.24M	122.18M	2.07M	56.08M	30.31M	20.42M	4.08M	3.99M	2.5M	864K
Operating CF Margin %	0.5%	0.33%	0.01%	0.3%	0.2%	-	0.68%	0.55%	0.56%	0.16%
Operating CF Growth %	0.17%	-0.36%	-0.98%	26.04%	-0.46%	-0.33%	-0.8%	-0.02%	-0.37%	-0.66%
Net Income	-189.3M	-252.13M	-489.25M	-100.52M	-111.51M	-101.92M	3.32M	4.24M	1.16M	-210K
Depreciation & Amortization	4.72M	3.46M	2.46M	2.33M	1.82M	1.2M	541K	1.04M	1.04M	1.64M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-112.84M	-95.58M	-104.17M	-2M	-80K	731K	0	0	0	0
Other Non-Cash Items	440.23M	439.23M	613.93M	132.09M	131.03M	108.02M	-617K	-456K	0	-875K
Working Capital Changes	35.98M	20.39M	-29.63M	26.59M	8.08M	11.59M	840K	-837K	313K	307K
Change in Receivables	-12.89M	4.16M	-6.48M	13.1M	6.93M	4.02M	-43K	-74K	78K	207K
Change in Inventory	0	0	-43.09M	13.57M	0	0	-55K	-79K	77K	-76K
Change in Payables	0	0	23.21M	204K	0	0	787K	-608K	-94K	100K
Cash from Investing+	-153.04M	170.16M	330.51M	-5.66M	12.07M	77.14M	-491K	-225K	-22K	-18.02M
Capital Expenditures	-5.37M	-9.66M	-1.08M	-3.29M	-6.63M	-602K	-491K	-225K	-22K	-18.02M
CapEx % of Revenue	0.01%	0.03%	0%	0.02%	0.04%	-	0.08%	0.03%	0%	3.4%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	4.73M	15.13M	339.76M	3.91M	0	77.74M	0	0	0	0
Cash from Financing+	9.89M	-309.88M	-418.91M	-81.79M	-53.84M	-110.34M	-1.17M	-2.64M	-3.33M	15.9M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	-1.17M	-2.64M	-3.31M	-239K
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	9.89M	-309.88M	-418.91M	-81.79M	-53.84M	-110.34M	0	0	-25K	-1.62M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	184.87M	112.51M	992K	52.79M	23.68M	19.82M	3.59M	3.76M	2.48M	-17.16M
FCF Margin %	0.49%	0.31%	0%	0.28%	0.16%	-	0.6%	0.52%	0.55%	-3.23%
FCF Growth %	0.15%	-0.39%	-0.99%	52.22%	-0.55%	-0.16%	-0.82%	0.05%	-0.34%	-7.91%
FCF per Share	38.28	21.50	0.17	7.84	2.24	3.03	2.92	3.06	2.02	-13.95
FCF Conversion (FCF/Net Income)	-1.00x	-0.48x	-0.00x	-0.56x	-0.27x	-0.20x	1.23x	0.94x	2.17x	-4.11x
Interest Paid	0	0	0	0	0	0	0	0	0	407K
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-20.65%	-38.31%	-184.39%	-	-	-	26.08%	31.38%	9.83%	-2.01%
Return on Invested Capital (ROIC)	5.79%	7.93%	5.14%	6.77%	10.95%	-30.54%	-	30.04%	9.62%	0.77%
Gross Margin	100%	100%	100%	100%	100%	-	85.72%	81.91%	73.21%	27.63%
Net Margin	-49.92%	-68.43%	-216.64%	-53.56%	-74.85%	-	55.65%	58.58%	25.8%	-3.96%
Debt / Equity	1.91x	2.27x	-	-	-	-	-	-	-	1.36x
Interest Coverage	1.97x	2.01x	1.20x	0.92x	1.10x	-0.45x	1655.00x	1406.00x	368.33x	0.38x
FCF Conversion	-1.00x	-0.48x	-0.00x	-0.56x	-0.27x	-0.20x	1.23x	0.94x	2.17x	-4.11x
Revenue Growth	-17.79%	-2.83%	-38.71%	-16.89%	-20.62%	-100%	-	21.47%	-38.19%	18.61%

Revenue by Segment

	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
Wholesale License	203.52M	165.08M	225.19M	-	170.71M	168.46M	105.04M	112.77M	105.06M	76.47M
Wholesale License Growth	-	-18.89%	36.41%	-	-	-1.32%	-37.65%	7.36%	-6.84%	-27.21%
Direct To Retail License	139.68M	150.25M	147.85M	-	154.28M	144.07M	120.56M	71.61M	42.82M	31.07M
Direct To Retail License Growth	-	7.56%	-1.60%	-	-	-6.61%	-16.32%	-40.60%	-40.21%	-27.45%
Other Licenses	-	-	-	-	54.21M	55.93M	237K	-	-	-
Other Licenses Growth	-	-	-	-	-	3.17%	-99.58%	-	-	-
Entertainment And Other	26.64M	38.49M	59.59M	-	-	-	-	-	-	-
Entertainment And Other Growth	-	44.45%	54.83%	-	-	-	-	-	-	-

Revenue by Geography

	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
UNITED STATES	-	-	-	293.13M	-	229.64M	163.81M	120.4M	88.44M	65M
UNITED STATES Growth	-	-	-	-	-	-	-28.67%	-26.50%	-26.54%	-26.51%
Other Countries	67.22M	43.48M	110.27M	137.94M	94.35M	93.61M	62.02M	67.29M	60.54M	43.58M
Other Countries Growth	-	-35.31%	153.60%	25.09%	-31.60%	-0.79%	-33.74%	8.49%	-10.03%	-28.02%
JAPAN	-	-	-	30.17M	-	45.21M	-	-	-	-
JAPAN Growth	-	-	-	-	-	-	-	-	-	-
U S	302.63M	273.9M	292.62M	-	250.21M	-	-	-	-	-
U S Growth	-	-9.49%	6.83%	-	-	-	-	-	-	-
J P	-	36.43M	29.73M	-	34.64M	-	-	-	-	-
J P Growth	-	-	-18.38%	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Icon Energy Corp. (ICON) reported $6.1M in revenue for fiscal year 2024. This represents a 98% decrease from $369.8M in 2011.

Icon Energy Corp. (ICON) grew revenue by 18.6% over the past year. This is strong growth.

Icon Energy Corp. (ICON) reported a net loss of $4.9M for fiscal year 2024.

Dividend & Returns

Yes, Icon Energy Corp. (ICON) pays a dividend with a yield of 8.06%. This makes it attractive for income-focused investors.

Icon Energy Corp. (ICON) has a return on equity (ROE) of -2.0%. Negative ROE indicates the company is unprofitable.

Icon Energy Corp. (ICON) had negative free cash flow of $24.2M in fiscal year 2024, likely due to heavy capital investments.