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Side-by-side financial comparison of Pangaea Logistics Solutions Ltd. (PANL) and Piedmont Realty Trust, Inc. (PDM). 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 $143.3M, roughly 1.3× Piedmont Realty Trust, Inc.). Pangaea Logistics Solutions Ltd. runs the higher net margin — 6.5% vs -31.4%, a 37.9% gap on every dollar of revenue. On growth, Pangaea Logistics Solutions Ltd. posted the faster year-over-year revenue change (24.9% vs 0.4%). Over the past eight quarters, Pangaea Logistics Solutions Ltd.'s revenue compounded faster (32.5% CAGR vs 0.0%).
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.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
PANL vs PDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $183.9M | $143.3M |
| Net Profit | $11.9M | $-45.0M |
| Gross Margin | — | — |
| Operating Margin | 9.5% | — |
| Net Margin | 6.5% | -31.4% |
| Revenue YoY | 24.9% | 0.4% |
| Net Profit YoY | 40.9% | -27.9% |
| EPS (diluted) | $0.18 | $-0.10 |
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.
| Q1 26 | — | $143.3M | ||
| Q4 25 | $183.9M | $142.9M | ||
| Q3 25 | $168.7M | $139.2M | ||
| Q2 25 | $156.7M | $140.3M | ||
| Q1 25 | $122.8M | $142.7M | ||
| Q4 24 | $147.2M | $143.2M | ||
| Q3 24 | $153.1M | $139.3M | ||
| Q2 24 | $131.5M | $143.3M |
| Q1 26 | — | $-45.0M | ||
| Q4 25 | $11.9M | $-43.2M | ||
| Q3 25 | $12.2M | $-13.5M | ||
| Q2 25 | $-2.7M | $-16.8M | ||
| Q1 25 | $-2.0M | $-10.1M | ||
| Q4 24 | $8.4M | $-30.0M | ||
| Q3 24 | $5.1M | $-11.5M | ||
| Q2 24 | $3.7M | $-9.8M |
| Q1 26 | — | — | ||
| Q4 25 | 9.5% | — | ||
| Q3 25 | 10.0% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 10.1% | — | ||
| Q3 24 | 9.8% | — | ||
| Q2 24 | 5.8% | — |
| Q1 26 | — | -31.4% | ||
| Q4 25 | 6.5% | -30.3% | ||
| Q3 25 | 7.2% | -9.7% | ||
| Q2 25 | -1.8% | -12.0% | ||
| Q1 25 | -1.6% | -7.1% | ||
| Q4 24 | 5.7% | -20.9% | ||
| Q3 24 | 3.3% | -8.3% | ||
| Q2 24 | 2.8% | -6.8% |
| Q1 26 | — | $-0.10 | ||
| Q4 25 | $0.18 | $-0.34 | ||
| Q3 25 | $0.19 | $-0.11 | ||
| Q2 25 | $-0.04 | $-0.14 | ||
| Q1 25 | $-0.03 | $-0.08 | ||
| Q4 24 | $0.19 | $-0.25 | ||
| Q3 24 | $0.11 | $-0.09 | ||
| Q2 24 | $0.08 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $103.1M | $2.3M |
| Total DebtLower is stronger | $249.6M | — |
| Stockholders' EquityBook value | $429.3M | $1.5B |
| Total Assets | $928.1M | $4.0B |
| Debt / EquityLower = less leverage | 0.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.3M | ||
| Q4 25 | $103.1M | $731.0K | ||
| Q3 25 | $94.0M | $3.0M | ||
| Q2 25 | $59.3M | $3.3M | ||
| Q1 25 | $63.9M | $2.9M | ||
| Q4 24 | $86.8M | $109.6M | ||
| Q3 24 | $93.1M | $133.6M | ||
| Q2 24 | $77.9M | $138.5M |
| Q1 26 | — | — | ||
| Q4 25 | $249.6M | $2.2B | ||
| Q3 25 | $256.2M | $2.2B | ||
| Q2 25 | $244.7M | $2.2B | ||
| Q1 25 | $251.0M | $2.2B | ||
| Q4 24 | $257.2M | $2.2B | ||
| Q3 24 | $133.6M | $2.2B | ||
| Q2 24 | $90.5M | $2.2B |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $429.3M | $1.5B | ||
| Q3 25 | $420.3M | $1.5B | ||
| Q2 25 | $414.4M | $1.5B | ||
| Q1 25 | $420.8M | $1.6B | ||
| Q4 24 | $427.8M | $1.6B | ||
| Q3 24 | $332.6M | $1.6B | ||
| Q2 24 | $331.5M | $1.7B |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $928.1M | $4.0B | ||
| Q3 25 | $932.1M | $4.0B | ||
| Q2 25 | $916.0M | $4.0B | ||
| Q1 25 | $918.0M | $4.0B | ||
| Q4 24 | $936.5M | $4.1B | ||
| Q3 24 | $749.2M | $4.1B | ||
| Q2 24 | $692.9M | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | 0.58× | 1.49× | ||
| Q3 25 | 0.61× | 1.43× | ||
| Q2 25 | 0.59× | 1.41× | ||
| Q1 25 | 0.60× | 1.40× | ||
| Q4 24 | 0.60× | 1.40× | ||
| Q3 24 | 0.40× | 1.36× | ||
| Q2 24 | 0.27× | 1.34× |
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 | $15.1M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 110.3% |
| Cash ConversionOCF / Net Profit | 1.27× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $15.1M | $140.6M | ||
| Q3 25 | $28.6M | $35.8M | ||
| Q2 25 | $14.4M | $50.1M | ||
| Q1 25 | $-4.4M | $3.7M | ||
| Q4 24 | $19.3M | $198.1M | ||
| Q3 24 | $28.5M | $42.9M | ||
| Q2 24 | $9.0M | $66.8M |
| Q1 26 | — | 110.3% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.27× | — | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.29× | — | ||
| Q3 24 | 5.57× | — | ||
| Q2 24 | 2.43× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PANL
| Voyage | $166.3M | 90% |
| Charter | $13.1M | 7% |
| Terminal Stevedore Revenue | $4.4M | 2% |
PDM
Segment breakdown not available.
