PANLPangaea Logistics Solutions Ltd.
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (A) and big price swings.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -66% · now 8% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can PANL take a bad year?
Pangaea Logistics Solutions Ltd. carries $130M of net debt at 1.16× EBITDA: a load its earnings can carry.
Net debt · as at Q2 2026 · under two and a half years of EBITDA, comfortable
- Net debt / EBITDA
- 1.16×
Net debt / EBITDA · 2.56× a year ago · the load is coming down
- Debt / equity
- 0.53×
Debt / equity
- Annualised volatility
- 47%
Annualised volatility · roughly twice as jumpy as the market
Details›
- Total debtQ2 2026
- $236M
- Cash and short-term investments
- $106M
- Net debt
- $130M
- EBITDA, trailing twelve months
- $112M
- Operating profit, trailing twelve months
- $66M
- Debt / equity
- 0.53×
- Total debt / EBITDA
- 2.10×
- Annualised volatilitytwo years of daily moves
- 47%
- Worst drawdown on file
- −66%
- Below its 52-week high
- 7.5%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.