Pangaea Logistics Solutions Ltd. (PANL)

PANL Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	47.59	19.37	28.9	26.32	79.49	67.23
Depreciation & Amortization	46.26	42.48	30.38	30.07	29.49	22.97
Other Amortization	1.18	1.27	1.16	1.07	1.13	1.04
Loss (Gain) From Sale of Assets	-2.64	-3	-	1.74	0.32	-
Asset Writedown & Restructuring Costs	-	-	-	-	3.01	-
Loss (Gain) on Equity Investments	-3.32	-2.95	-1.71	-0.68	-0.81	-1.13
Stock-Based Compensation	4.35	4.11	2.79	2.09	1.77	2.1
Provision & Write-off of Bad Debts	1.38	1.54	1.84	2.94	2.38	1.56
Other Operating Activities	-12.24	-15.24	-2.38	0.99	-0.69	-6.82
Change in Accounts Receivable	-11.2	-15.02	3.69	-14.08	15.13	-26.67
Change in Inventory	-12.51	4.46	-11.03	12.55	-1.96	-11.18
Change in Accounts Payable	23.33	7.47	11.84	-4.08	-8.94	16.98
Change in Unearned Revenue	9.31	9.44	-0.18	-5.25	-11.32	19.41
Change in Other Net Operating Assets	-21.92	-0.19	-2.69	-0.34	19.09	-24.94
Operating Cash Flow	69.57	53.73	65.69	53.79	134.8	61.75
Operating Cash Flow Growth	20.41%	-18.21%	22.13%	-60.10%	118.32%	196.35%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-9.34	-6.49	-69.43	-27.26	-36.39	-196.65
Sale of Property, Plant & Equipment	26.87	17.2	-	17.27	8.4	-
Cash Acquisitions	-2.7	-2.7	-	-7.2	-	-
Investment in Securities	0.86	-0.73	-0.17	-0.43	-0.52	-1.14
Other Investing Activities	5.24	4.14	1.91	1.64	-	-
Investing Cash Flow	20.93	11.41	-67.69	-15.98	-28.51	-197.79

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	18.71	89.15	-	23.5	220.32
Total Debt Issued	19.52	18.71	89.15	-	23.5	220.32
Long-Term Debt Repaid	-	-45.49	-55.25	-36.02	-31.28	-71.88
Total Debt Repaid	-47.26	-45.49	-55.25	-36.02	-31.28	-71.88
Net Debt Issued (Repaid)	-27.74	-26.78	33.9	-36.02	-7.78	148.44
Repurchase of Common Stock	-1.99	-3	-	-0.13	-0.41	-0.15
Common Dividends Paid	-13.48	-16.3	-18.71	-18.1	-13.41	-5.54
Other Financing Activities	-0.6	-2.54	-25.42	-12.9	-12.52	1.11
Financing Cash Flow	-43.81	-48.62	-10.23	-67.15	-34.12	143.86

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Miscellaneous Cash Flow Adjustments	0	0	-	-	-	-
Net Cash Flow	46.69	16.52	-12.23	-29.35	72.18	7.81

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	60.22	47.24	-3.74	26.52	98.41	-134.91
Free Cash Flow Growth	-	-	-	-73.05%	-	-
Free Cash Flow Margin	8.48%	7.47%	-0.70%	5.31%	14.06%	-18.79%
Free Cash Flow Per Share	0.92	0.73	-0.08	0.58	2.18	-3.01
Levered Free Cash Flow	63.39	59.28	-18.03	17.89	64.67	-156.43
Unlevered Free Cash Flow	77.02	73.13	-6.46	27.87	77.68	-150.16

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	24.32	24.32	17.98	18.85	14.91	9.09
Change in Working Capital	-12.99	6.16	1.62	-11.2	12	-26.39

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Aug 10, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Sep 6, 2026

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