vs
Side-by-side financial comparison of H2O AMERICA (HTO) and Pangaea Logistics Solutions Ltd. (PANL). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $183.9M, roughly 1.1× Pangaea Logistics Solutions Ltd.). H2O AMERICA runs the higher net margin — 8.1% vs 6.5%, a 1.7% gap on every dollar of revenue. On growth, Pangaea Logistics Solutions Ltd. posted the faster year-over-year revenue change (24.9% vs 1.5%). Over the past eight quarters, Pangaea Logistics Solutions Ltd.'s revenue compounded faster (32.5% CAGR vs 15.3%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
Pangaea Logistics Solutions Ltd. is a global dry bulk logistics and shipping service provider. It operates a modern fleet of dry bulk vessels to transport a wide range of commodities including grains, minerals, construction materials, and energy-related raw materials, serving industrial, agricultural, and energy sector clients across North America, Europe, and Asia with tailored end-to-end bulk cargo supply chain solutions.
HTO vs PANL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $183.9M |
| Net Profit | $16.2M | $11.9M |
| Gross Margin | — | — |
| Operating Margin | 16.6% | 9.5% |
| Net Margin | 8.1% | 6.5% |
| Revenue YoY | 1.5% | 24.9% |
| Net Profit YoY | -29.2% | 40.9% |
| EPS (diluted) | $0.45 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $199.4M | $183.9M | ||
| Q3 25 | $243.5M | $168.7M | ||
| Q2 25 | $197.8M | $156.7M | ||
| Q1 25 | $164.9M | $122.8M | ||
| Q4 24 | $196.5M | $147.2M | ||
| Q3 24 | $216.7M | $153.1M | ||
| Q2 24 | $173.1M | $131.5M | ||
| Q1 24 | $150.0M | $104.7M |
| Q4 25 | $16.2M | $11.9M | ||
| Q3 25 | $45.1M | $12.2M | ||
| Q2 25 | $24.7M | $-2.7M | ||
| Q1 25 | $16.6M | $-2.0M | ||
| Q4 24 | $22.9M | $8.4M | ||
| Q3 24 | $38.7M | $5.1M | ||
| Q2 24 | $20.7M | $3.7M | ||
| Q1 24 | $11.7M | $11.7M |
| Q4 25 | 16.6% | 9.5% | ||
| Q3 25 | 26.5% | 10.0% | ||
| Q2 25 | 22.2% | 2.3% | ||
| Q1 25 | 21.8% | 2.4% | ||
| Q4 24 | 22.2% | 10.1% | ||
| Q3 24 | 26.9% | 9.8% | ||
| Q2 24 | 23.4% | 5.8% | ||
| Q1 24 | 18.6% | 10.5% |
| Q4 25 | 8.1% | 6.5% | ||
| Q3 25 | 18.5% | 7.2% | ||
| Q2 25 | 12.5% | -1.8% | ||
| Q1 25 | 10.0% | -1.6% | ||
| Q4 24 | 11.7% | 5.7% | ||
| Q3 24 | 17.8% | 3.3% | ||
| Q2 24 | 12.0% | 2.8% | ||
| Q1 24 | 7.8% | 11.1% |
| Q4 25 | $0.45 | $0.18 | ||
| Q3 25 | $1.27 | $0.19 | ||
| Q2 25 | $0.71 | $-0.04 | ||
| Q1 25 | $0.49 | $-0.03 | ||
| Q4 24 | $0.70 | $0.19 | ||
| Q3 24 | $1.17 | $0.11 | ||
| Q2 24 | $0.64 | $0.08 | ||
| Q1 24 | $0.36 | $0.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.7M | $103.1M |
| Total DebtLower is stronger | $1.9B | $249.6M |
| Stockholders' EquityBook value | $1.5B | $429.3M |
| Total Assets | $5.1B | $928.1M |
| Debt / EquityLower = less leverage | 1.23× | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $103.1M | ||
| Q3 25 | $11.3M | $94.0M | ||
| Q2 25 | $19.8M | $59.3M | ||
| Q1 25 | $23.7M | $63.9M | ||
| Q4 24 | $11.1M | $86.8M | ||
| Q3 24 | $4.0M | $93.1M | ||
| Q2 24 | $22.8M | $77.9M | ||
| Q1 24 | $4.5M | $95.9M |
| Q4 25 | $1.9B | $249.6M | ||
| Q3 25 | — | $256.2M | ||
| Q2 25 | — | $244.7M | ||
| Q1 25 | — | $251.0M | ||
| Q4 24 | $1.7B | $257.2M | ||
| Q3 24 | — | $133.6M | ||
| Q2 24 | — | $90.5M | ||
| Q1 24 | — | $95.9M |
| Q4 25 | $1.5B | $429.3M | ||
| Q3 25 | $1.5B | $420.3M | ||
| Q2 25 | $1.5B | $414.4M | ||
| Q1 25 | $1.4B | $420.8M | ||
| Q4 24 | $1.4B | $427.8M | ||
| Q3 24 | $1.3B | $332.6M | ||
| Q2 24 | $1.3B | $331.5M | ||
| Q1 24 | $1.2B | $332.0M |
| Q4 25 | $5.1B | $928.1M | ||
| Q3 25 | $5.0B | $932.1M | ||
| Q2 25 | $4.8B | $916.0M | ||
| Q1 25 | $4.7B | $918.0M | ||
| Q4 24 | $4.7B | $936.5M | ||
| Q3 24 | $4.6B | $749.2M | ||
| Q2 24 | $4.4B | $692.9M | ||
| Q1 24 | $4.4B | $703.3M |
| Q4 25 | 1.23× | 0.58× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.59× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | 1.26× | 0.60× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.27× | ||
| Q1 24 | — | 0.29× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $63.5M | $15.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.92× | 1.27× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $15.1M | ||
| Q3 25 | $77.3M | $28.6M | ||
| Q2 25 | $60.8M | $14.4M | ||
| Q1 25 | $43.2M | $-4.4M | ||
| Q4 24 | $41.5M | $19.3M | ||
| Q3 24 | $53.5M | $28.5M | ||
| Q2 24 | $49.3M | $9.0M | ||
| Q1 24 | $51.2M | $9.0M |
| Q4 25 | 3.92× | 1.27× | ||
| Q3 25 | 1.71× | 2.34× | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | 2.29× | ||
| Q3 24 | 1.39× | 5.57× | ||
| Q2 24 | 2.38× | 2.43× | ||
| Q1 24 | 4.38× | 0.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
PANL
| Voyage | $166.3M | 90% |
| Charter | $13.1M | 7% |
| Terminal Stevedore Revenue | $4.4M | 2% |
