Pangaea Logistics Solutions Ltd.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $19.4M | $28.9M | $26.3M | $79.5M | $67.2M | $11.4M | $11.7M | $17.8M |
| Depreciation & Amortization | $42.5M | $30.4M | $30.1M | $29.5M | $23.0M | $17.1M | $18.5M | $17.6M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $4.1M | $2.8M | $2.1M | $1.8M | $2.1M | $2.3M | $1.7M | $1.2M |
| Net Cash from Operating Activities | $53.7M | $65.7M | $53.8M | $134.8M | $61.7M | $20.8M | $44.5M | $40.1M |
| Investing Activities | ||||||||
| Capital Expenditures | $4.3M | $167.0K | $0 | $653.5K | $43.0K | $0 | $283.2K | $414.9K |
| Business Acquisitions | — | $0 | $7.2M | $0 | — | — | — | — |
| Net Cash from Investing Activities | $11.4M | $-67.7M | $-16.0M | $-28.5M | $-197.8M | $-6.9M | $-46.6M | $-17.5M |
| Financing Activities | ||||||||
| Dividends Paid | $16.3M | $18.7M | $18.1M | $13.4M | $5.5M | $535.2K | $8.1M | $2.3M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-48.6M | $-10.2M | $-67.2M | $-34.1M | $143.9M | $-18.6M | $-916.1K | $-5.0M |
| Net Change in Cash | $16.5M | $-12.2M | $-29.3M | $72.2M | $7.8M | $-4.7M | $-3.1M | $17.6M |
| Free Cash Flow | $49.4M | $65.5M | $53.8M | $134.1M | $61.7M | $20.8M | $44.2M | $39.7M |