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Side-by-side financial comparison of Pangaea Logistics Solutions Ltd. (PANL) and Latham Group, Inc. (SWIM). 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 $100.0M, roughly 1.8× Latham Group, Inc.). Pangaea Logistics Solutions Ltd. runs the higher net margin — 6.5% vs -7.0%, a 13.5% gap on every dollar of revenue. On growth, Pangaea Logistics Solutions Ltd. posted the faster year-over-year revenue change (24.9% vs 14.5%). Over the past eight quarters, Pangaea Logistics Solutions Ltd.'s revenue compounded faster (32.5% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
PANL vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.9M | $100.0M |
| Net Profit | $11.9M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | 9.5% | -10.7% |
| Net Margin | 6.5% | -7.0% |
| Revenue YoY | 24.9% | 14.5% |
| Net Profit YoY | 40.9% | 76.0% |
| EPS (diluted) | $0.18 | $-0.06 |
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 | $183.9M | $100.0M | ||
| Q3 25 | $168.7M | $161.9M | ||
| Q2 25 | $156.7M | $172.6M | ||
| Q1 25 | $122.8M | $111.4M | ||
| Q4 24 | $147.2M | $87.3M | ||
| Q3 24 | $153.1M | $150.5M | ||
| Q2 24 | $131.5M | $160.1M | ||
| Q1 24 | $104.7M | $110.6M |
| Q4 25 | $11.9M | $-7.0M | ||
| Q3 25 | $12.2M | $8.1M | ||
| Q2 25 | $-2.7M | $16.0M | ||
| Q1 25 | $-2.0M | $-6.0M | ||
| Q4 24 | $8.4M | $-29.2M | ||
| Q3 24 | $5.1M | $5.9M | ||
| Q2 24 | $3.7M | $13.3M | ||
| Q1 24 | $11.7M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | 9.5% | -10.7% | ||
| Q3 25 | 10.0% | 13.3% | ||
| Q2 25 | 2.3% | 14.3% | ||
| Q1 25 | 2.4% | -4.4% | ||
| Q4 24 | 10.1% | -14.9% | ||
| Q3 24 | 9.8% | 8.9% | ||
| Q2 24 | 5.8% | 12.5% | ||
| Q1 24 | 10.5% | -1.9% |
| Q4 25 | 6.5% | -7.0% | ||
| Q3 25 | 7.2% | 5.0% | ||
| Q2 25 | -1.8% | 9.3% | ||
| Q1 25 | -1.6% | -5.4% | ||
| Q4 24 | 5.7% | -33.4% | ||
| Q3 24 | 3.3% | 3.9% | ||
| Q2 24 | 2.8% | 8.3% | ||
| Q1 24 | 11.1% | -7.1% |
| Q4 25 | $0.18 | $-0.06 | ||
| Q3 25 | $0.19 | $0.07 | ||
| Q2 25 | $-0.04 | $0.13 | ||
| Q1 25 | $-0.03 | $-0.05 | ||
| Q4 24 | $0.19 | $-0.24 | ||
| Q3 24 | $0.11 | $0.05 | ||
| Q2 24 | $0.08 | $0.11 | ||
| Q1 24 | $0.25 | $-0.07 |
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 | — |
| Total DebtLower is stronger | $249.6M | $279.8M |
| Stockholders' EquityBook value | $429.3M | $405.9M |
| Total Assets | $928.1M | $823.2M |
| Debt / EquityLower = less leverage | 0.58× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $103.1M | — | ||
| Q3 25 | $94.0M | — | ||
| Q2 25 | $59.3M | — | ||
| Q1 25 | $63.9M | — | ||
| Q4 24 | $86.8M | — | ||
| Q3 24 | $93.1M | — | ||
| Q2 24 | $77.9M | — | ||
| Q1 24 | $95.9M | — |
| Q4 25 | $249.6M | $279.8M | ||
| Q3 25 | $256.2M | $281.1M | ||
| Q2 25 | $244.7M | $281.5M | ||
| Q1 25 | $251.0M | $306.9M | ||
| Q4 24 | $257.2M | $281.5M | ||
| Q3 24 | $133.6M | $282.8M | ||
| Q2 24 | $90.5M | $282.4M | ||
| Q1 24 | $95.9M | $282.8M |
| Q4 25 | $429.3M | $405.9M | ||
| Q3 25 | $420.3M | $408.4M | ||
| Q2 25 | $414.4M | $398.4M | ||
| Q1 25 | $420.8M | $381.1M | ||
| Q4 24 | $427.8M | $387.2M | ||
| Q3 24 | $332.6M | $416.6M | ||
| Q2 24 | $331.5M | $408.1M | ||
| Q1 24 | $332.0M | $391.8M |
| Q4 25 | $928.1M | $823.2M | ||
| Q3 25 | $932.1M | $844.4M | ||
| Q2 25 | $916.0M | $822.1M | ||
| Q1 25 | $918.0M | $824.6M | ||
| Q4 24 | $936.5M | $794.2M | ||
| Q3 24 | $749.2M | $853.4M | ||
| Q2 24 | $692.9M | $830.0M | ||
| Q1 24 | $703.3M | $808.6M |
| Q4 25 | 0.58× | 0.69× | ||
| Q3 25 | 0.61× | 0.69× | ||
| Q2 25 | 0.59× | 0.71× | ||
| Q1 25 | 0.60× | 0.81× | ||
| Q4 24 | 0.60× | 0.73× | ||
| Q3 24 | 0.40× | 0.68× | ||
| Q2 24 | 0.27× | 0.69× | ||
| Q1 24 | 0.29× | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | — | $14.1M |
| FCF MarginFCF / Revenue | — | 14.1% |
| Capex IntensityCapex / Revenue | — | 9.2% |
| Cash ConversionOCF / Net Profit | 1.27× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.1M | $23.3M | ||
| Q3 25 | $28.6M | $51.0M | ||
| Q2 25 | $14.4M | $36.0M | ||
| Q1 25 | $-4.4M | $-46.9M | ||
| Q4 24 | $19.3M | $6.2M | ||
| Q3 24 | $28.5M | $37.2M | ||
| Q2 24 | $9.0M | $52.4M | ||
| Q1 24 | $9.0M | $-34.5M |
| Q4 25 | — | $14.1M | ||
| Q3 25 | — | $45.2M | ||
| Q2 25 | — | $29.1M | ||
| Q1 25 | — | $-50.3M | ||
| Q4 24 | — | $-98.0K | ||
| Q3 24 | — | $33.2M | ||
| Q2 24 | — | $47.9M | ||
| Q1 24 | — | $-39.9M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 27.9% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | -45.2% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 29.9% | ||
| Q1 24 | — | -36.0% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 4.8% |
| Q4 25 | 1.27× | — | ||
| Q3 25 | 2.34× | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.29× | — | ||
| Q3 24 | 5.57× | 6.32× | ||
| Q2 24 | 2.43× | 3.95× | ||
| Q1 24 | 0.77× | — |
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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
