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Side-by-side financial comparison of Pangaea Logistics Solutions Ltd. (PANL) and Tecnoglass Inc. (TGLS). Click either name above to swap in a different company.
Tecnoglass Inc. is the larger business by last-quarter revenue ($245.3M vs $183.9M, roughly 1.3× Pangaea Logistics Solutions Ltd.). Tecnoglass Inc. runs the higher net margin — 10.6% vs 6.5%, a 4.2% gap on every dollar of revenue. On growth, Pangaea Logistics Solutions Ltd. posted the faster year-over-year revenue change (24.9% vs 2.4%). Over the past eight quarters, Pangaea Logistics Solutions Ltd.'s revenue compounded faster (32.5% CAGR vs 12.8%).
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.
Tecnoglass Inc. is a leading manufacturer of high-performance architectural glass, aluminum windows, doors, and associated building components. It primarily caters to residential and commercial construction sectors across North America and Latin America, offering custom, energy-efficient solutions for new construction and renovation projects.
PANL vs TGLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.9M | $245.3M |
| Net Profit | $11.9M | $26.1M |
| Gross Margin | — | 40.0% |
| Operating Margin | 9.5% | 18.3% |
| Net Margin | 6.5% | 10.6% |
| Revenue YoY | 24.9% | 2.4% |
| Net Profit YoY | 40.9% | -44.5% |
| EPS (diluted) | $0.18 | $0.57 |
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 | $245.3M | ||
| Q3 25 | $168.7M | $260.5M | ||
| Q2 25 | $156.7M | $255.5M | ||
| Q1 25 | $122.8M | $222.3M | ||
| Q4 24 | $147.2M | $239.6M | ||
| Q3 24 | $153.1M | $238.3M | ||
| Q2 24 | $131.5M | $219.7M | ||
| Q1 24 | $104.7M | $192.6M |
| Q4 25 | $11.9M | $26.1M | ||
| Q3 25 | $12.2M | $47.2M | ||
| Q2 25 | $-2.7M | $44.1M | ||
| Q1 25 | $-2.0M | $42.2M | ||
| Q4 24 | $8.4M | $47.0M | ||
| Q3 24 | $5.1M | $49.5M | ||
| Q2 24 | $3.7M | $35.0M | ||
| Q1 24 | $11.7M | $29.7M |
| Q4 25 | — | 40.0% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 44.7% | ||
| Q1 25 | — | 43.9% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.8% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 38.8% |
| Q4 25 | 9.5% | 18.3% | ||
| Q3 25 | 10.0% | 25.1% | ||
| Q2 25 | 2.3% | 24.0% | ||
| Q1 25 | 2.4% | 26.7% | ||
| Q4 24 | 10.1% | 28.0% | ||
| Q3 24 | 9.8% | 28.4% | ||
| Q2 24 | 5.8% | 23.3% | ||
| Q1 24 | 10.5% | 21.3% |
| Q4 25 | 6.5% | 10.6% | ||
| Q3 25 | 7.2% | 18.1% | ||
| Q2 25 | -1.8% | 17.3% | ||
| Q1 25 | -1.6% | 19.0% | ||
| Q4 24 | 5.7% | 19.6% | ||
| Q3 24 | 3.3% | 20.8% | ||
| Q2 24 | 2.8% | 15.9% | ||
| Q1 24 | 11.1% | 15.4% |
| Q4 25 | $0.18 | $0.57 | ||
| Q3 25 | $0.19 | $1.01 | ||
| Q2 25 | $-0.04 | $0.94 | ||
| Q1 25 | $-0.03 | $0.90 | ||
| Q4 24 | $0.19 | $1.00 | ||
| Q3 24 | $0.11 | $1.05 | ||
| Q2 24 | $0.08 | $0.75 | ||
| Q1 24 | $0.25 | $0.63 |
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 | $104.1M |
| Total DebtLower is stronger | $249.6M | $174.4M |
| Stockholders' EquityBook value | $429.3M | $713.1M |
| Total Assets | $928.1M | $1.3B |
| Debt / EquityLower = less leverage | 0.58× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $103.1M | $104.1M | ||
| Q3 25 | $94.0M | $127.1M | ||
| Q2 25 | $59.3M | $140.9M | ||
| Q1 25 | $63.9M | $160.2M | ||
| Q4 24 | $86.8M | $137.5M | ||
| Q3 24 | $93.1M | $124.8M | ||
| Q2 24 | $77.9M | $129.5M | ||
| Q1 24 | $95.9M | $138.8M |
| Q4 25 | $249.6M | $174.4M | ||
| Q3 25 | $256.2M | $114.7M | ||
| Q2 25 | $244.7M | $110.6M | ||
| Q1 25 | $251.0M | $110.6M | ||
| Q4 24 | $257.2M | $111.1M | ||
| Q3 24 | $133.6M | $126.8M | ||
| Q2 24 | $90.5M | $144.7M | ||
| Q1 24 | $95.9M | $160.9M |
| Q4 25 | $429.3M | $713.1M | ||
| Q3 25 | $420.3M | $764.0M | ||
| Q2 25 | $414.4M | $736.0M | ||
| Q1 25 | $420.8M | $685.1M | ||
| Q4 24 | $427.8M | $631.2M | ||
| Q3 24 | $332.6M | $613.3M | ||
| Q2 24 | $331.5M | $574.8M | ||
| Q1 24 | $332.0M | $573.6M |
| Q4 25 | $928.1M | $1.3B | ||
| Q3 25 | $932.1M | $1.2B | ||
| Q2 25 | $916.0M | $1.2B | ||
| Q1 25 | $918.0M | $1.1B | ||
| Q4 24 | $936.5M | $1.0B | ||
| Q3 24 | $749.2M | $996.3M | ||
| Q2 24 | $692.9M | $942.5M | ||
| Q1 24 | $703.3M | $981.6M |
| Q4 25 | 0.58× | 0.24× | ||
| Q3 25 | 0.61× | 0.15× | ||
| Q2 25 | 0.59× | 0.15× | ||
| Q1 25 | 0.60× | 0.16× | ||
| Q4 24 | 0.60× | 0.18× | ||
| Q3 24 | 0.40× | 0.21× | ||
| Q2 24 | 0.27× | 0.25× | ||
| Q1 24 | 0.29× | 0.28× |
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 | $31.0M |
| Free Cash FlowOCF − Capex | — | $11.4M |
| FCF MarginFCF / Revenue | — | 4.7% |
| Capex IntensityCapex / Revenue | — | 8.0% |
| Cash ConversionOCF / Net Profit | 1.27× | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.1M | $31.0M | ||
| Q3 25 | $28.6M | $40.0M | ||
| Q2 25 | $14.4M | $17.9M | ||
| Q1 25 | $-4.4M | $46.9M | ||
| Q4 24 | $19.3M | $61.1M | ||
| Q3 24 | $28.5M | $41.5M | ||
| Q2 24 | $9.0M | $34.5M | ||
| Q1 24 | $9.0M | $33.4M |
| Q4 25 | — | $11.4M | ||
| Q3 25 | — | $21.2M | ||
| Q2 25 | — | $-14.7M | ||
| Q1 25 | — | $16.5M | ||
| Q4 24 | — | $35.4M | ||
| Q3 24 | — | $17.8M | ||
| Q2 24 | — | $14.2M | ||
| Q1 24 | — | $23.6M |
| Q4 25 | — | 4.7% | ||
| Q3 25 | — | 8.2% | ||
| Q2 25 | — | -5.7% | ||
| Q1 25 | — | 7.4% | ||
| Q4 24 | — | 14.8% | ||
| Q3 24 | — | 7.5% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | — | 12.2% |
| Q4 25 | — | 8.0% | ||
| Q3 25 | — | 7.2% | ||
| Q2 25 | — | 12.7% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | — | 10.7% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | 5.1% |
| Q4 25 | 1.27× | 1.19× | ||
| Q3 25 | 2.34× | 0.85× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | — | 1.11× | ||
| Q4 24 | 2.29× | 1.30× | ||
| Q3 24 | 5.57× | 0.84× | ||
| Q2 24 | 2.43× | 0.98× | ||
| Q1 24 | 0.77× | 1.13× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
