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Pangaea Logistics Solutions cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$57.3M in Q3 2026 · $98.3M over twelve months

Operating cash flow$57.3M
Free cash flow+$57.3M
Cash / net income1.4×

Analysis

In Q3 2026, Pangaea Logistics Solutions generated $57.3M of operating cash flow. That is $28.7M more than in Q3 2025 ($28.6M).

Over the twelve months to Sep 30, 2026, operating cash flow was $98.3M; the largest uses were net borrowing (+) / repaid (−) ($43.3M), dividends ($16.7M), other financing ($3.5M); besides operations, cash came from other investing ($16.5M); the cash balance rose by $50.9M.

Operating cash flow was $57.3M against net income of $39.6M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$11.9M, prepaid and other assets +$10.8M, deferred revenue +$10.3M.

Free cash flow

Pangaea Logistics Solutions: free cash flow by quarterPangaea Logistics Solutions: free cash flow by quarter$19.3MQ4 2024−$4.4MQ1 2025$14.4MQ2 2025$28.6MQ3 2025$15.1MQ4 2025$4.5MQ1 2026$21.4MQ2 2026$57.3MQ3 2026
Operating cash flow less capital spending.
Pangaea Logistics Solutions: operating cash flow against capital spendingPangaea Logistics Solutions: operating cash flow against capital spendingOperating cash flowCapital spending$19.3M$0Q4 2024−$4.4M$0Q1 2025$14.4M$0Q2 2025$28.6M$0Q3 2025$15.1M$0Q4 2025$4.5M$0Q1 2026$21.4M$0Q2 2026$57.3M$0Q3 2026
Latest (Q3 2026): Operating cash flow $57.3M, Capital spending $0.

Capital allocation, year by year

Pangaea Logistics Solutions: where the cash came from (up) and went (down), by fiscal yearPangaea Logistics Solutions: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $61.7MFY2021: Net borrowing $7.3MFY2021: Capital spending −$43KFY2021: Dividends −$5.5M$69.0MFY2021FY2022: Operating cash flow $135MFY2022: Net borrowing −$22.8MFY2022: Capital spending −$653KFY2022: Dividends −$13.4M$135MFY2022FY2023: Operating cash flow $53.8MFY2023: Net borrowing −$36.0MFY2023: Acquisitions −$7.2MFY2023: Dividends −$18.1M$53.8MFY2023FY2024: Operating cash flow $65.7MFY2024: Net borrowing $31.1MFY2024: Capital spending −$167KFY2024: Dividends −$18.7M$96.8MFY2024FY2025: Operating cash flow $53.7MFY2025: Net borrowing −$41.9MFY2025: Capital spending −$4.3MFY2025: Dividends −$16.3M$53.7MFY2025
Over these 5 years operating cash flow totalled $370M; the largest uses were net borrowing ($101M) and dividends ($72.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$145M
Debt$35.8M
Net cash$109M
Due within a year$22.4M

Pangaea Logistics Solutions funds itself: free cash flow was $98.3M over the last twelve months, and $145M of cash and investments stands against $35.8M of debt ($22.4M due within a year, 6.5× covered by cash).

Pangaea Logistics Solutions: debt maturities by year (FY2025)Pangaea Logistics Solutions: debt maturities by year (FY2025)$22.4MYear 1$50.5MYear 2$14.5MYear 3$42.1MYear 4
Principal due in each year as disclosed in the annual report, against $145M of cash and investments now.

Where the cash came from and went

Pangaea Logistics Solutions: sources (+) and uses (−) of cash, Q3 2026Pangaea Logistics Solutions: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$57.3MCash drawn (+) / kept (−)−$39.2MNet borrowing (+) / repaid (−)−$11.2MDividends−$6.4MOther financing−$249KOther investing−$81K
Pangaea Logistics Solutions: sources (+) and uses (−) of cash, TTM to Q3 2026Pangaea Logistics Solutions: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$98.3MCash drawn (+) / kept (−)−$50.9MNet borrowing (+) / repaid (−)−$43.3MDividends−$16.7MOther investing$16.5MOther financing−$3.5MPartners−$290KNot reconciled$1K

From profit to cash

Pangaea Logistics Solutions: net income to operating cash flow, Q3 2026Pangaea Logistics Solutions: net income to operating cash flow, Q3 2026Net income$39.6MDepreciation & amortization$11.9MStock-based pay$653KReceivables−$5.0MInventory−$7.6MDeferred revenue$10.3MPrepaid and other assets$10.8MOperating cash flow$57.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$57.3M—−$6.4M−$11.2M−$39.2M$57.3M
Q2 2026$21.4M—−$3.2M−$11.2M−$15.9M$21.4M
Q1 2026$4.5M—−$3.9M−$11.3M$13.3M$4.5M
Q4 2025$15.1M—−$3.2M−$10.4M−$9.0M$15.1M
Q3 2025$28.6M−$984K−$13.1M−$10.7M−$35.0M$28.6M
Q2 2025$14.4M—−$9.9M−$10.5M$4.7M$14.4M
Q1 2025−$4.4M—−$6.7M−$10.3M$22.9M−$4.4M
Q4 2024$19.3M—−$4.8M−$6.9M$6.3M$19.3M

Pangaea Logistics Solutions: income statement and cash flow

Pangaea Logistics Solutions, Q3 2026: revenue $219M (+30% year over year), operating margin 19.9%. The chart follows the revenue to costs, profit and cash.

Pangaea Logistics Solutions: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.