Pangaea Logistics Solutions Ltd — Earnings Quality Grade C
PANL · Industrials
Some red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 32 days, change +3 days YoY
AR growth 31.8% exceeds revenue growth 17.8%
Revenue grew 17.8% but CFFO declined -18.2%
Small-cap context: Small-cap revenue/CFFO ratio is sensitive to growth-stage working-capital draws.
Expense Quality
Inventory -13.6% vs COGS 21.5%. Normal
CapEx growth -90.7% vs revenue 17.8%. Normal
SG&A/Gross Profit = 45.0%. Normal
Gross margin 10.9%, change -2.7pp. Stable
Cash Flow Quality
CFFO/NI = 2.77. Profits backed by cash
FCF $0.0B, FCF/NI = 2.44
Accruals ratio = -3.7%. Low accruals
Cash $0.1B covers 68% of debt $0.2B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 1% of equity. Manageable
Interest coverage = 1.6x (<2x). Financial stress
Insufficient data
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -11% YoY. Normal
Manipulation Score
M-Score = -2.30 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25