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Side-by-side financial comparison of JBG SMITH Properties (JBGS) and Pangaea Logistics Solutions Ltd. (PANL). Click either name above to swap in a different company.
Pangaea Logistics Solutions Ltd. is the larger business by last-quarter revenue ($183.9M vs $127.6M, roughly 1.4× JBG SMITH Properties). Pangaea Logistics Solutions Ltd. runs the higher net margin — 6.5% vs -35.7%, a 42.2% gap on every dollar of revenue. On growth, Pangaea Logistics Solutions Ltd. posted the faster year-over-year revenue change (24.9% vs -2.5%). Over the past eight quarters, Pangaea Logistics Solutions Ltd.'s revenue compounded faster (32.5% CAGR vs -6.3%).
JBG SMITH PropertiesJBGSEarnings & Financial Report
JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.
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.
JBGS vs PANL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.6M | $183.9M |
| Net Profit | $-45.5M | $11.9M |
| Gross Margin | — | — |
| Operating Margin | -47.5% | 9.5% |
| Net Margin | -35.7% | 6.5% |
| Revenue YoY | -2.5% | 24.9% |
| Net Profit YoY | 24.0% | 40.9% |
| EPS (diluted) | $-0.76 | $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 | $127.6M | $183.9M | ||
| Q3 25 | $123.9M | $168.7M | ||
| Q2 25 | $126.5M | $156.7M | ||
| Q1 25 | $120.7M | $122.8M | ||
| Q4 24 | $130.8M | $147.2M | ||
| Q3 24 | $136.0M | $153.1M | ||
| Q2 24 | $135.3M | $131.5M | ||
| Q1 24 | $145.2M | $104.7M |
| Q4 25 | $-45.5M | $11.9M | ||
| Q3 25 | $-28.6M | $12.2M | ||
| Q2 25 | $-19.2M | $-2.7M | ||
| Q1 25 | $-45.7M | $-2.0M | ||
| Q4 24 | $-59.9M | $8.4M | ||
| Q3 24 | $-27.0M | $5.1M | ||
| Q2 24 | $-24.4M | $3.7M | ||
| Q1 24 | $-32.3M | $11.7M |
| Q4 25 | -47.5% | 9.5% | ||
| Q3 25 | -27.5% | 10.0% | ||
| Q2 25 | -18.4% | 2.3% | ||
| Q1 25 | -44.7% | 2.4% | ||
| Q4 24 | -53.6% | 10.1% | ||
| Q3 24 | -22.4% | 9.8% | ||
| Q2 24 | -24.3% | 5.8% | ||
| Q1 24 | -30.1% | 10.5% |
| Q4 25 | -35.7% | 6.5% | ||
| Q3 25 | -23.1% | 7.2% | ||
| Q2 25 | -15.2% | -1.8% | ||
| Q1 25 | -37.9% | -1.6% | ||
| Q4 24 | -45.8% | 5.7% | ||
| Q3 24 | -19.8% | 3.3% | ||
| Q2 24 | -18.0% | 2.8% | ||
| Q1 24 | -22.2% | 11.1% |
| Q4 25 | $-0.76 | $0.18 | ||
| Q3 25 | $-0.48 | $0.19 | ||
| Q2 25 | $-0.29 | $-0.04 | ||
| Q1 25 | $-0.56 | $-0.03 | ||
| Q4 24 | $-0.70 | $0.19 | ||
| Q3 24 | $-0.32 | $0.11 | ||
| Q2 24 | $-0.27 | $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 | $75.3M | $103.1M |
| Total DebtLower is stronger | — | $249.6M |
| Stockholders' EquityBook value | $1.2B | $429.3M |
| Total Assets | $4.4B | $928.1M |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.3M | $103.1M | ||
| Q3 25 | $64.4M | $94.0M | ||
| Q2 25 | $61.4M | $59.3M | ||
| Q1 25 | $81.3M | $63.9M | ||
| Q4 24 | $145.8M | $86.8M | ||
| Q3 24 | $137.0M | $93.1M | ||
| Q2 24 | $163.5M | $77.9M | ||
| Q1 24 | $220.5M | $95.9M |
| Q4 25 | — | $249.6M | ||
| Q3 25 | — | $256.2M | ||
| Q2 25 | — | $244.7M | ||
| Q1 25 | — | $251.0M | ||
| Q4 24 | — | $257.2M | ||
| Q3 24 | — | $133.6M | ||
| Q2 24 | — | $90.5M | ||
| Q1 24 | — | $95.9M |
| Q4 25 | $1.2B | $429.3M | ||
| Q3 25 | $1.2B | $420.3M | ||
| Q2 25 | $1.3B | $414.4M | ||
| Q1 25 | $1.6B | $420.8M | ||
| Q4 24 | $1.8B | $427.8M | ||
| Q3 24 | $1.9B | $332.6M | ||
| Q2 24 | $2.0B | $331.5M | ||
| Q1 24 | $2.1B | $332.0M |
| Q4 25 | $4.4B | $928.1M | ||
| Q3 25 | $4.4B | $932.1M | ||
| Q2 25 | $4.5B | $916.0M | ||
| Q1 25 | $4.7B | $918.0M | ||
| Q4 24 | $5.0B | $936.5M | ||
| Q3 24 | $5.2B | $749.2M | ||
| Q2 24 | $5.3B | $692.9M | ||
| Q1 24 | $5.4B | $703.3M |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.59× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | 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 | $73.3M | $15.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 1.27× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $73.3M | $15.1M | ||
| Q3 25 | $8.9M | $28.6M | ||
| Q2 25 | $18.8M | $14.4M | ||
| Q1 25 | $12.9M | $-4.4M | ||
| Q4 24 | $129.4M | $19.3M | ||
| Q3 24 | $26.4M | $28.5M | ||
| Q2 24 | $23.8M | $9.0M | ||
| Q1 24 | $37.0M | $9.0M |
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | 2.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.29× | ||
| Q3 24 | — | 5.57× | ||
| Q2 24 | — | 2.43× | ||
| Q1 24 | — | 0.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JBGS
Segment breakdown not available.
PANL
| Voyage | $166.3M | 90% |
| Charter | $13.1M | 7% |
| Terminal Stevedore Revenue | $4.4M | 2% |
