Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 4/5 core metricsOperating margin changed -2.6 percentage points from the prior annual period.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Operating margin compressed
Operating margin changed -2.6 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- 2 filing risk checks flagged
Flagged areas: Solvency & liquidity, Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +17.8% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Solvency & liquidity
- Dilution
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Seaborne Dry Bulk Logistics And Transportation Services Segment$632M100.0%+17.8% yoy
Members sum to the consolidated $632M for this period.
- Voyage$578M91.4%+16.9% yoy
- Charter$39.3M6.2%+29.5% yoy
- Terminal Stevedore Revenue$15.2M2.4%+25.9% yoy
Members sum to the consolidated $632M for this period.
- Other$223M35.3%+27.2% yoy
- United States$178M28.1%+4.9% yoy
- Canada$65M10.3%-10.7% yoy
- Country Germany$59.4M9.4%+34.7% yoy
- Country Singapore$59.2M9.4%+50.1% yoy
- United Kingdom$48M7.6%+35.1% yoy
Members sum to the consolidated $632M for this period.
- Operating Segment$152Mshare n/a+38.6% yoy
- Voyage$152Mshare n/a+38.6% yoy
- Charter$12.4Mshare n/a+24.5% yoy
- Terminal Stevedore Revenue$6.14Mshare n/a+95.0% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,104 US-listed filers · 321 in Industrials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $632M | 48thof 3,301 middle third | 35thof 305 middle third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 17.8% | 75thof 3,135 top third | 82ndof 294 top third |
Operating margin operating income ÷ revenue | 6.5% | 60thof 2,819 middle third | 58thof 280 middle third |
Net margin net income ÷ revenue | 3.1% | 52ndof 3,263 middle third | 50thof 299 middle third |
Return on equity net income ÷ stockholders' equity (positive equity only) | 4.5% | 50thof 3,577 middle third | 42ndof 281 middle third |
Interest coverage operating income ÷ interest expense (interest expense > 0) | 1.7× | 52ndof 819 middle third | 42ndof 61 middle third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 0.7% | 79thof 2,895 top third | 59thof 266 middle third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 32 days | 71stof 2,398 top third | 73rdof 238 top third |
Net debt ÷ operating cash flow net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher | 0.2× | 76thof 1,547 top third | 80thof 149 top third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 2.8× | 80thof 2,135 top third | 81stof 195 top third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -3.7% | 45thof 3,291 middle third | 45thof 263 middle third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 20 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Interest expense InterestExpenseDebt | quarter 2022-12-31 | $3.6M 10-K 2023-03-15 | $4.3M 10-K/A 2025-01-13 | +19.4% | first · latest · 3 filings carry it |
| Interest expense InterestExpenseDebt | quarter 2021-03-31 | $2.23M 10-Q 2021-05-11 | $2M 10-K 2023-03-15 | -10.2% | first · latest · 4 filings carry it |
| Interest expense InterestExpenseDebt | quarter 2022-09-30 | $4.12M 10-Q 2022-11-09 | $4.4M 10-K/A 2025-01-13 | +6.9% | first · latest · 4 filings carry it |
| Interest expense InterestExpenseDebt | fiscal year 2022-12-31 | $14.8M 10-K 2023-03-15 | $15.7M 10-K/A 2025-01-13 | +6.3% | first · latest · 3 filings carry it |
| Long-term debt LongTermDebt | balance at 2020-12-31 | $102M 10-Q 2021-05-11 | $105M 10-Q 2021-11-09 | +3.2% | first · latest · 3 filings carry it |
| Interest expense InterestExpenseDebt | fiscal year 2020-12-31 | $7.83M 10-K 2021-03-15 | $7.65M 10-K 2022-03-16 | -2.3% | first · latest |
| Interest expense InterestExpenseDebt | quarter 2020-09-30 | $1.96M 10-Q 2020-11-12 | $2M 10-K 2022-03-16 | +2.2% | first · latest · 4 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2021-03-31 | $6.38M 10-Q 2021-05-11 | $6.5M 10-K 2023-03-15 | +1.9% | first · latest · 4 filings carry it |
| Interest expense InterestExpenseDebt | quarter 2022-06-30 | $3.63M 10-Q 2022-08-09 | $3.7M 10-K/A 2025-01-13 | +1.8% | first · latest · 4 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2020-03-31 | -$2.33M 10-Q 2020-05-13 | -$2.3M 10-K 2022-03-16 | +1.4% | first · latest · 4 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2020-12-31 | $8.2M 10-K 2021-03-15 | $8.3M 10-K 2022-03-16 | +1.2% | first · latest |
| Net income NetIncomeLoss | quarter 2021-03-31 | $5.85M 10-Q 2021-05-11 | $5.8M 10-K 2023-03-15 | -0.9% | first · latest · 4 filings carry it |
| Interest expense InterestExpenseDebt | quarter 2022-03-31 | $3.37M 10-Q 2022-05-10 | $3.4M 10-K/A 2025-01-13 | +0.9% | first · latest · 4 filings carry it |
| Net income NetIncomeLoss | quarter 2022-03-31 | $20.2M 10-Q 2022-05-10 | $20M 10-K/A 2025-01-13 | -0.8% | first · latest · 5 filings carry it |
| Interest expense InterestExpenseDebt | quarter 2021-06-30 | $2.62M 10-Q 2021-08-10 | $2.6M 10-K 2023-03-15 | -0.8% | first · latest · 4 filings carry it |
| Interest expense InterestExpenseDebt | quarter 2020-03-31 | $2.12M 10-Q 2020-05-13 | $2.1M 10-K 2022-03-16 | -0.8% | first · latest · 4 filings carry it |
| Interest expense InterestExpenseDebt | quarter 2021-09-30 | $2.42M 10-Q 2021-11-09 | $2.4M 10-K 2023-03-15 | -0.7% | first · latest · 4 filings carry it |
| Net income NetIncomeLoss | quarter 2022-06-30 | $25M 10-Q 2022-08-09 | $25.2M 10-K/A 2025-01-13 | +0.7% | first · latest · 5 filings carry it |
| Net income NetIncomeLoss | quarter 2020-09-30 | $7.55M 10-Q 2020-11-12 | $7.6M 10-K 2022-03-16 | +0.6% | first · latest · 4 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2022-03-31 | $20M 10-Q 2022-05-10 | $19.9M 10-K/A 2025-01-13 | -0.6% | first · latest · 5 filings carry it |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for PANL yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.