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Side-by-side financial comparison of Pangaea Logistics Solutions Ltd. (PANL) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). Click either name above to swap in a different company.
VIRTUS INVESTMENT PARTNERS, INC. is the larger business by last-quarter revenue ($208.0M vs $183.9M, roughly 1.1× Pangaea Logistics Solutions Ltd.). VIRTUS INVESTMENT PARTNERS, INC. runs the higher net margin — 16.3% vs 6.5%, a 9.8% gap on every dollar of revenue. On growth, Pangaea Logistics Solutions Ltd. posted the faster year-over-year revenue change (24.9% vs -10.9%). Over the past eight quarters, Pangaea Logistics Solutions Ltd.'s revenue compounded faster (32.5% CAGR vs -3.2%).
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.
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
PANL vs VRTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.9M | $208.0M |
| Net Profit | $11.9M | $33.9M |
| Gross Margin | — | — |
| Operating Margin | 9.5% | 19.1% |
| Net Margin | 6.5% | 16.3% |
| Revenue YoY | 24.9% | -10.9% |
| Net Profit YoY | 40.9% | -14.2% |
| EPS (diluted) | $0.18 | $5.15 |
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 | $208.0M | ||
| Q3 25 | $168.7M | $216.4M | ||
| Q2 25 | $156.7M | $210.5M | ||
| Q1 25 | $122.8M | $217.9M | ||
| Q4 24 | $147.2M | $233.5M | ||
| Q3 24 | $153.1M | $227.0M | ||
| Q2 24 | $131.5M | $224.4M | ||
| Q1 24 | $104.7M | $222.0M |
| Q4 25 | $11.9M | $33.9M | ||
| Q3 25 | $12.2M | $31.3M | ||
| Q2 25 | $-2.7M | $42.7M | ||
| Q1 25 | $-2.0M | $28.1M | ||
| Q4 24 | $8.4M | $39.5M | ||
| Q3 24 | $5.1M | $49.1M | ||
| Q2 24 | $3.7M | $26.0M | ||
| Q1 24 | $11.7M | $37.9M |
| Q4 25 | 9.5% | 19.1% | ||
| Q3 25 | 10.0% | 21.7% | ||
| Q2 25 | 2.3% | 21.5% | ||
| Q1 25 | 2.4% | 16.8% | ||
| Q4 24 | 10.1% | 21.7% | ||
| Q3 24 | 9.8% | 24.3% | ||
| Q2 24 | 5.8% | 19.7% | ||
| Q1 24 | 10.5% | 14.5% |
| Q4 25 | 6.5% | 16.3% | ||
| Q3 25 | 7.2% | 14.5% | ||
| Q2 25 | -1.8% | 20.3% | ||
| Q1 25 | -1.6% | 12.9% | ||
| Q4 24 | 5.7% | 16.9% | ||
| Q3 24 | 3.3% | 21.6% | ||
| Q2 24 | 2.8% | 11.6% | ||
| Q1 24 | 11.1% | 17.1% |
| Q4 25 | $0.18 | $5.15 | ||
| Q3 25 | $0.19 | $4.65 | ||
| Q2 25 | $-0.04 | $6.12 | ||
| Q1 25 | $-0.03 | $4.05 | ||
| Q4 24 | $0.19 | $4.65 | ||
| Q3 24 | $0.11 | $5.71 | ||
| Q2 24 | $0.08 | $2.43 | ||
| Q1 24 | $0.25 | $4.10 |
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 | $390.0M |
| Stockholders' EquityBook value | $429.3M | $934.0M |
| Total Assets | $928.1M | $4.3B |
| Debt / EquityLower = less leverage | 0.58× | 0.42× |
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 | $390.0M | ||
| Q3 25 | $256.2M | $390.6M | ||
| Q2 25 | $244.7M | $231.3M | ||
| Q1 25 | $251.0M | $231.7M | ||
| Q4 24 | $257.2M | $232.1M | ||
| Q3 24 | $133.6M | $237.5M | ||
| Q2 24 | $90.5M | $247.6M | ||
| Q1 24 | $95.9M | $253.0M |
| Q4 25 | $429.3M | $934.0M | ||
| Q3 25 | $420.3M | $918.7M | ||
| Q2 25 | $414.4M | $896.4M | ||
| Q1 25 | $420.8M | $893.7M | ||
| Q4 24 | $427.8M | $897.5M | ||
| Q3 24 | $332.6M | $889.0M | ||
| Q2 24 | $331.5M | $868.7M | ||
| Q1 24 | $332.0M | $871.7M |
| Q4 25 | $928.1M | $4.3B | ||
| Q3 25 | $932.1M | $3.9B | ||
| Q2 25 | $916.0M | $3.7B | ||
| Q1 25 | $918.0M | $3.7B | ||
| Q4 24 | $936.5M | $4.0B | ||
| Q3 24 | $749.2M | $3.6B | ||
| Q2 24 | $692.9M | $3.6B | ||
| Q1 24 | $703.3M | $3.5B |
| Q4 25 | 0.58× | 0.42× | ||
| Q3 25 | 0.61× | 0.43× | ||
| Q2 25 | 0.59× | 0.26× | ||
| Q1 25 | 0.60× | 0.26× | ||
| Q4 24 | 0.60× | 0.26× | ||
| Q3 24 | 0.40× | 0.27× | ||
| Q2 24 | 0.27× | 0.29× | ||
| Q1 24 | 0.29× | 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 | $15.1M | $-67.2M |
| Free Cash FlowOCF − Capex | — | $-74.1M |
| FCF MarginFCF / Revenue | — | -35.6% |
| Capex IntensityCapex / Revenue | — | 3.3% |
| Cash ConversionOCF / Net Profit | 1.27× | -1.99× |
| TTM Free Cash FlowTrailing 4 quarters | — | $100.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.1M | $-67.2M | ||
| Q3 25 | $28.6M | $108.3M | ||
| Q2 25 | $14.4M | $75.8M | ||
| Q1 25 | $-4.4M | $-3.8M | ||
| Q4 24 | $19.3M | $1.8M | ||
| Q3 24 | $28.5M | $69.1M | ||
| Q2 24 | $9.0M | $70.0M | ||
| Q1 24 | $9.0M | $-34.5M |
| Q4 25 | — | $-74.1M | ||
| Q3 25 | — | $106.9M | ||
| Q2 25 | — | $74.2M | ||
| Q1 25 | — | $-6.8M | ||
| Q4 24 | — | $-3.8M | ||
| Q3 24 | — | $68.7M | ||
| Q2 24 | — | $68.6M | ||
| Q1 24 | — | $-36.5M |
| Q4 25 | — | -35.6% | ||
| Q3 25 | — | 49.4% | ||
| Q2 25 | — | 35.2% | ||
| Q1 25 | — | -3.1% | ||
| Q4 24 | — | -1.6% | ||
| Q3 24 | — | 30.3% | ||
| Q2 24 | — | 30.6% | ||
| Q1 24 | — | -16.4% |
| Q4 25 | — | 3.3% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | 1.27× | -1.99× | ||
| Q3 25 | 2.34× | 3.45× | ||
| Q2 25 | — | 1.77× | ||
| Q1 25 | — | -0.13× | ||
| Q4 24 | 2.29× | 0.04× | ||
| Q3 24 | 5.57× | 1.41× | ||
| Q2 24 | 2.43× | 2.69× | ||
| Q1 24 | 0.77× | -0.91× |
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% |
VRTS
| Open End Funds | $68.9M | 33% |
| Retail Separate Accounts | $51.3M | 25% |
| Institutional Accounts | $39.6M | 19% |
| Administration And Shareholder Service Fees | $18.4M | 9% |
| Closed End Funds | $15.9M | 8% |
| Distribution And Service Fees | $12.3M | 6% |
