Pangaea Logistics Solutions, Ltd. (PANL) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 250.79M | 215.78M | 212.62M | 184.01M | 175.9M | 191.99M | 196.24M | 181.35M | 195.56M | 191.83M | 198.48M | 186.93M | 219.76M | 222.51M | 222.69M | 234.16M | 206.67M | 183.96M | 168.18M | 133.13M |
| Cash & Short-Term Investments | 89.74M | 103.05M | 94.02M | 59.25M | 63.95M | 86.81M | 93.12M | 77.95M | 95.87M | 99.04M | 87.36M | 84.3M | 129.15M | 128.38M | 117.95M | 102.18M | 69.92M | 56.21M | 49.16M | 40.61M |
| Cash Only | 59.54M | 103.05M | 94.02M | 59.25M | 63.95M | 86.81M | 93.12M | 77.95M | 95.87M | 99.04M | 87.36M | 84.3M | 129.15M | 128.38M | 117.95M | 102.18M | 69.92M | 56.21M | 49.16M | 40.61M |
| Short-Term Investments | 30.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 75.94M | 55.85M | 59.01M | 62.69M | 55.71M | 49.72M | 54.76M | 52.78M | 53.39M | 53.67M | 61.82M | 49.95M | 39.68M | 44.48M | 50.19M | 53.46M | 56.53M | 71.27M | 58M | 40.38M |
| Days Sales Outstanding | 34.77 | 28.74 | 33.19 | 34.38 | 38.64 | 32.66 | 32.31 | 36.73 | 46.5 | 40.29 | 37.91 | 34.54 | 33.31 | 34.04 | 25.84 | 25.59 | 29.99 | 25.35 | 21.24 | 23.3 |
| Inventory | 43.34M | 28.39M | 36.14M | 38.58M | 36.03M | 32.85M | 26.74M | 28.89M | 22.15M | 16.56M | 26.35M | 27.45M | 26.73M | 29.1M | 30.65M | 52.82M | 39.21M | 27.15M | 24.88M | 23.18M |
| Days Inventory Outstanding | 21.56 | 18.28 | 24.18 | 23.28 | 30.19 | 21.74 | 19.38 | 19.54 | 20.37 | 17.15 | 22.42 | 23.64 | 25.04 | 26.11 | 25.91 | 27.22 | 18.27 | 12 | 12.08 | 14.32 |
| Other Current Assets | 27.65M | 28.48M | 12.8M | 14.62M | 9.28M | 9.75M | 10.68M | 12.56M | 12.83M | 12.98M | 12.9M | 13.86M | 13.85M | 12.28M | 12.22M | 10.01M | 28.55M | 11.37M | 20.92M | 12.33M |
| Total Non-Current Assets | 699.9M | 712.32M | 719.52M | 731.99M | 742.09M | 744.46M | 552.93M | 511.57M | 507.75M | 513.35M | 530.11M | 537.64M | 510.47M | 525.73M | 516.23M | 520.46M | 524.19M | 523.06M | 488.6M | 442.3M |
| Property, Plant & Equipment | 691.54M | 704.38M | 711.35M | 722.32M | 733.69M | 736.6M | 543.72M | 502.48M | 498.91M | 504.66M | 520.93M | 528.43M | 504.73M | 520.45M | 511.73M | 516.26M | 520.17M | 519.1M | 484.59M | 434.69M |
| Fixed Asset Turnover | 0.24x | 0.26x | 0.24x | 0.22x | 0.17x | 0.23x | 0.29x | 0.26x | 0.21x | 0.26x | 0.26x | 0.23x | 0.22x | 0.25x | 0.36x | 0.38x | 0.37x | 0.47x | 0.46x | 0.38x |
| Goodwill | 3.1M | 3.1M | 3.1M | 3.1M | 3.1M | 3.1M | 3.1M | 3.1M | 3.1M | 3.1M | 3.1M | 3.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 475K | 0 | 677.79K | 779.29K | 893.98K | 1.01M | 1.14M | 1.35M | 1.56M | 1.78M | 2.01M | 2.25M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 4.79M | 270K | 4.12M | 5.79M | 4.4M | 3.75M | 4.97M | 4.64M | 4.17M | 3.81M | 4.06M | 3.86M | 5.73M | 5.28M | 4.5M | 4.2M | 4.02M | 3.96M | 4.01M | 7.6M |
| Other Non-Current Assets | 0 | 4.56M | 269.61K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 950.7M | 928.1M | 932.15M | 916M | 917.99M | 936.46M | 749.17M | 692.92M | 703.31M | 705.18M | 728.59M | 724.57M | 730.23M | 748.24M | 738.91M | 754.62M | 730.86M | 707.02M | 656.78M | 575.43M |
| Asset Turnover | 0.18x | 0.20x | 0.18x | 0.17x | 0.13x | 0.17x | 0.21x | 0.19x | 0.15x | 0.18x | 0.19x | 0.16x | 0.15x | 0.17x | 0.25x | 0.26x | 0.27x | 0.34x | 0.35x | 0.28x |
| Asset Growth % | 3.56% | -0.89% | 24.42% | 32.19% | 30.53% | 32.8% | 2.82% | -4.37% | -3.69% | -5.75% | -1.4% | -3.98% | -0.09% | 5.83% | 12.5% | 31.14% | 62.35% | 56.98% | 48.13% | 30.93% |
| Total Current Liabilities | 153.59M | 128.03M | 130.93M | 126.01M | 109M | 109.11M | 95.91M | 83.97M | 99.34M | 105.33M | 115.29M | 110.7M | 87.12M | 92.21M | 91.1M | 118.89M | 114.24M | 111.74M | 104.87M | 86.49M |
| Accounts Payable | 20.92M | 54.26M | 18.88M | 18.11M | 14.39M | 47.76M | 11.96M | 12.02M | 11.03M | 6.28M | 9.32M | 14.55M | 9.81M | 9.98M | 13.06M | 25.95M | 21.85M | 7.03M | 29.3M | 24.48M |
| Days Payables Outstanding | 22.59 | 20.72 | 11.96 | 10.14 | 27.24 | 21.79 | 8.35 | 8.82 | 9.11 | 6.23 | 9.94 | 10.63 | 8.88 | 10.06 | 12.11 | 14.14 | 7.95 | 8.38 | 13.52 | 15.61 |
| Short-Term Debt | 49.75M | 46.88M | 46.98M | 44.94M | 44.81M | 16.58M | 16.54M | 12.05M | 30M | 30.75M | 31.51M | 32.26M | 13.37M | 15.78M | 12.92M | 12.89M | 15.56M | 15.69M | 15.81M | 14.56M |
| Deferred Revenue (Current) | 28.71M | 24.89M | 18.29M | 18.49M | 19.29M | 15.45M | 16.08M | 10.06M | 13.77M | 15.63M | 13.8M | 14.5M | 16.42M | 20.88M | 17.23M | 24.35M | 25.9M | 32.21M | 24.79M | 15.83M |
| Other Current Liabilities | 52.82M | 806K | 46.78M | 44.47M | 30.5M | -32.57M | 7.67M | 6.04M | 6.57M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.5M | 2.72M |
| Current Ratio | 1.63x | 1.69x | 1.62x | 1.46x | 1.61x | 1.76x | 2.05x | 2.16x | 1.97x | 1.82x | 1.72x | 1.69x | 2.52x | 2.41x | 2.44x | 1.97x | 1.81x | 1.65x | 1.60x | 1.54x |
| Quick Ratio | 1.35x | 1.46x | 1.35x | 1.15x | 1.28x | 1.46x | 1.77x | 1.82x | 1.75x | 1.66x | 1.49x | 1.44x | 2.22x | 2.10x | 2.11x | 1.53x | 1.47x | 1.40x | 1.37x | 1.27x |
| Cash Conversion Cycle | 33.73 | 26.3 | 45.4 | 47.52 | 41.58 | 32.61 | 43.33 | 47.45 | 57.77 | 51.2 | 50.38 | 47.55 | 49.47 | 50.08 | 39.65 | 38.67 | 40.31 | 28.97 | 19.81 | 22 |
| Total Non-Current Liabilities | 310.28M | 325.33M | 335.66M | 330.86M | 341.84M | 352.68M | 274.44M | 232.14M | 224.66M | 229.65M | 235.93M | 252.3M | 279.91M | 287.31M | 290.21M | 294.88M | 300.23M | 294.6M | 267.52M | 232.06M |
| Long-Term Debt | 93.16M | 316.93M | 100.68M | 104.71M | 108.73M | 112.72M | 117.01M | 78.47M | 65.93M | 68.45M | 70.95M | 73.44M | 95.56M | 98.82M | 96.45M | 99.59M | 102.72M | 105.84M | 108.87M | 100.92M |
| Capital Lease Obligations | 217.12M | 8.39M | 234.98M | 226.14M | 233.11M | 239.96M | 141.01M | 137.04M | 139.98M | 143.27M | 146.47M | 160.63M | 164.52M | 168.51M | 172.5M | 176.44M | 180.36M | 170.96M | 143.53M | 116.13M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 16.42M | 16.63M | 18.75M | 17.94M | 18.5M | 18.23M | 19.83M | 19.97M | 21.27M | 18.85M | 17.15M | 17.81M | 15.12M | 15.01M |
| Total Liabilities | 463.86M | 453.36M | 466.59M | 456.87M | 450.84M | 461.79M | 370.35M | 316.11M | 324M | 334.98M | 351.22M | 363M | 367.04M | 379.52M | 381.31M | 413.77M | 414.47M | 406.34M | 372.39M | 318.56M |
| Total Debt | 360.03M | 372.21M | 382.64M | 375.79M | 386.65M | 397.37M | 288.8M | 249.04M | 257.55M | 264.44M | 275.56M | 282.75M | 289.92M | 299.48M | 298.12M | 305.07M | 314.7M | 306.96M | 281.5M | 242.93M |
| Net Debt | 300.49M | 269.15M | 288.62M | 316.54M | 322.7M | 310.57M | 195.68M | 171.09M | 161.68M | 165.4M | 188.21M | 198.46M | 160.77M | 171.1M | 180.17M | 202.9M | 244.78M | 250.75M | 232.33M | 202.32M |
| Debt / Equity | 0.74x | 0.78x | 0.82x | 0.82x | 0.83x | 0.84x | 0.76x | 0.66x | 0.68x | 0.71x | 0.73x | 0.78x | 0.80x | 0.81x | 0.83x | 0.90x | 0.99x | 1.02x | 0.99x | 0.95x |
| Debt / EBITDA | 15.86x | 14.05x | 14.26x | 26.37x | 30.09x | 17.60x | 12.71x | 16.53x | 13.95x | 14.63x | 9.91x | 18.87x | 20.97x | 11.40x | 7.87x | 7.01x | 11.52x | 8.23x | 8.61x | 11.55x |
| Net Debt / EBITDA | 13.24x | 10.16x | 10.76x | 22.21x | 25.11x | 13.76x | 8.61x | 11.35x | 8.76x | 9.15x | 6.77x | 13.25x | 11.63x | 6.51x | 4.76x | 4.66x | 8.96x | 6.72x | 7.10x | 9.62x |
| Interest Coverage | 1.82x | 3.07x | 3.20x | 0.52x | 0.64x | 2.23x | 2.29x | 2.05x | 3.71x | 1.58x | 5.37x | 1.55x | 1.80x | 4.59x | 3.90x | 8.48x | 5.31x | 4.89x | 11.46x | 8.47x |
| Total Equity | 486.83M | 474.74M | 465.56M | 459.13M | 467.15M | 474.66M | 378.81M | 376.81M | 379.31M | 370.2M | 377.38M | 361.57M | 363.19M | 368.72M | 357.6M | 340.85M | 316.39M | 300.68M | 284.4M | 256.88M |
| Equity Growth % | 4.21% | 0.02% | 22.9% | 21.85% | 23.16% | 28.22% | 0.38% | 4.21% | 4.44% | 0.4% | 5.53% | 6.08% | 14.79% | 22.63% | 25.74% | 32.69% | 30.87% | 28.26% | 25.21% | 6.6% |
| Book Value per Share | 7.52 | 7.40 | 7.16 | 7.17 | 8.49 | 10.31 | 8.23 | 8.19 | 8.26 | 8.16 | 8.37 | 8.01 | 8.05 | 8.20 | 8.01 | 7.56 | 7.00 | 6.73 | 6.33 | 5.75 |
| Total Shareholders' Equity | 441.06M | 429.33M | 420.26M | 414.35M | 420.8M | 427.82M | 332.59M | 331.53M | 332M | 323.89M | 326.71M | 312.23M | 313.77M | 314.23M | 303.41M | 287.64M | 265.63M | 247.2M | 233.36M | 207.54M |
| Common Stock | 7K | 7K | 6.52K | 6.54K | 6.56K | 6.5K | 4.69K | 4.69K | 4.68K | 4.65K | 4.65K | 4.65K | 4.65K | 4.59K | 4.59K | 4.6K | 4.6K | 4.56K | 4.56K | 4.56K |
| Retained Earnings | 182.28M | 172.25M | 163.59M | 154.61M | 160.6M | 169.16M | 165.42M | 165M | 166.01M | 159.03M | 162.54M | 148.33M | 150.14M | 151.33M | 140.7M | 125.25M | 103.55M | 85.66M | 72.17M | 46.72M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 45.77M | 45.4M | 45.3M | 44.78M | 46.35M | 46.84M | 46.22M | 45.28M | 47.3M | 46.31M | 50.67M | 49.35M | 49.42M | 54.5M | 54.19M | 53.21M | 50.76M | 53.48M | 51.04M | 49.34M |