Pangaea Logistics Solutions (PANL) Balance Sheet: Assets & Liabilities

Pangaea Logistics Solutions (PANL) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Pangaea Logistics Solutions reported total assets of $928.10M and total liabilities of $453.36M. Shareholders' equity was $474.74M, up 11.0% from $427.82M a year earlier. Total debt stood at $144.04M against $103.05M in cash and short-term investments, a net debt position of $40.98M. That puts debt-to-equity at 0.30, compared with 0.30 a year earlier.

Pangaea Logistics Solutions Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Pangaea Logistics Solutions Ltd. (PANL) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	103.05	86.81	99.04	128.38	56.21	46.90	50.56	53.61	34.53
Cash & Short-Term Investments	103.05	86.81	99.04	128.38	56.21	46.90	50.56	53.61	34.53
Accounts Receivable	55.85	42.37	47.89	36.76	54.26	35.98	34.78	28.48	21.09
Inventory	28.39	32.85	16.56	29.10	27.15	15.97	21.00	19.22	15.36
Other Current Assets	28.48	4.44	28.34	28.27	46.35	3.71	21.62	12.19	12.03
Total Current Assets	215.78	191.99	191.83	222.51	183.96	111.34	127.96	113.51	83.01
Non-Current Assets
Property, Plant & Equipment (Net)	704.38	736.60	504.66	520.45	519.10	321.98	335.09	337.47	336.29
Long-Term Investments	0.27	2.65	3.81	5.28	3.96	1.69	15.36	2.50	4.00
Goodwill	3.11	3.11	3.10	0.00	0.00	0.00	0.00	0.00	0.00
Intangible Assets	0.58	1.01	1.78	0.00	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	4.83	0.00	5.59	5.28	3.96	15.39	1.50	2.50	4.00
Total Non-Current Assets	712.32	744.46	513.35	525.73	523.06	339.06	351.95	339.97	340.29
Total Assets	928.10	936.46	705.18	748.24	707.02	450.40	479.90	453.47	423.30
Current Liabilities
Accounts Payable	54.26	14.82	34.35	9.98	7.03	18.68	24.17	19.89	15.69
Short-Term Debt	46.88	16.58	49.73	15.78	15.44	57.38	35.87	28.37	27.77
Current Portion of Long-Term Debt	16.91	16.58	30.75	15.78	15.44	57.38	-	-	-
Accrued Liabilities	18.89	8.80	17.05	28.57	39.58	11.22	-	-	-
Deferred Revenue	24.89	15.45	15.63	20.88	32.21	12.80	14.38	14.72	5.82
Other Current Liabilities	2.00	8.89	2.64	0.63	0.46	1.01	16.43	16.07	20.73
Total Current Liabilities	128.03	109.11	105.33	92.21	111.74	110.81	90.85	79.05	70.01
Non-Current Liabilities
Long-Term Debt	97.16	112.72	68.45	98.82	105.84	44.51	141.15	141.06	142.63
Other Non-Current Liabilities	0.00	229.53	17.94	19.97	17.81	10.14	4.83	0.00	0.00
Total Non-Current Liabilities	325.33	352.69	229.65	287.31	294.60	105.16	145.98	141.06	142.63
Total Liabilities	453.36	461.79	334.98	379.52	406.34	215.97	236.83	220.11	212.64
Stockholders' Equity
Common Stock	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Retained Earnings	172.26	169.16	159.03	151.33	85.66	23.18	12.74	5.74	-9.60
Accumulated Other Comprehensive Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-73.14	-61.28
Additional Paid-in Capital	257.07	258.66	164.85	162.89	161.53	159.58	157.50	155.95	154.94
Minority Interest	45.40	46.84	46.31	54.50	53.48	51.67	72.83	71.68	65.30
Shares Outstanding	64.97	64.96	46.47	45.90	45.62	-	-	-	-
Total Stockholders' Equity	474.74	427.82	370.20	368.72	300.68	234.43	170.25	161.69	145.35
Total Liabilities & Equity	928.10	936.46	705.18	748.24	707.02	450.40	479.90	453.47	423.30

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Pangaea Logistics Solutions Balance Sheet

How much debt does Pangaea Logistics Solutions have?

Pangaea Logistics Solutions had total debt of $144.04M as of Dec 31, 2025, against $103.05M in cash and short-term investments. Its debt-to-equity ratio was 0.30. Total debt was $129.30M a year earlier.

What are Pangaea Logistics Solutions's total assets?

Pangaea Logistics Solutions reported total assets of $928.10M as of Dec 31, 2025, down 0.9% from $936.46M a year earlier. Total liabilities were $453.36M.

What is Pangaea Logistics Solutions's shareholders' equity?

Pangaea Logistics Solutions's shareholders' equity was $474.74M as of Dec 31, 2025, or about $7.31 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition