Icon Energy Corp.
The research page contains a warning that has not been mapped to a supported model interpretation. The company research remains available, but the complete score is withheld until the warning is reviewed.
Severe listing-compliance risk
The share price is below $1 and the stored reverse-split/listing-risk level is HIGH. No verified reverse-split authorization or announced reverse split is currently recorded. This is a risk signal, not confirmation that Nasdaq has issued a deficiency notice.
ICON · Price history
Price at last available close
$0.95
+$0.02 (+2.16%) 1M
2026-10-27
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Company & revenue
About Icon Energy Corp.
Primary reporting period: 2025-12-31 · Research updated Oct 13, 2026. A research update is not a new financial filing.
Who they are
Icon Energy Corp., a shipping firm founded in 2023, is headquartered in Athens, Greece. As a subsidiary of Atlantis Holding Corp., it specializes in the worldwide marine transport of dry bulk commodities. The company's operational fleet comprises two deep-sea vessels: a Panamax dry bulk carrier with an approximate capacity of 77,326 deadweight tons (dwt), and a Kamsarmax vessel capable of hauling around 81,448 dwt.
How they make money
Icon Energy Corp. generates revenue by chartering its fleet of oceangoing dry bulk vessels to regional and international dry bulk operators, commodity traders, and end users. The company operates through time charters, where it provides the vessel and crew in exchange for charter hire payments, while the charterer typically covers voyage-related expenses such as fuel and port charges.
Products & services
Worldwide seaborne transportation services for dry bulk cargoes, including the ownership, chartering, and operation of Kamsarmax and Panamax dry bulk carriers.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Customer concentration
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
- Ship management and technical service providers — The company relies on third-party technical managers for the day-to-day maintenance, crewing, and technical operation of its vessels.Source
Business relationships & partnerships
- Pavimar Shipping Co. — The company maintains a relationship with Pavimar Shipping Co. for administrative and operational support services.Source
Strengths
- Modernized fleet with Kamsarmax and Panamax vessel capabilitiesSource
Company-specific research
Questions worth answering for ICON
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can ICON maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •How long can ICON fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •Is ICON's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What specifically needs to improve for ICON to reach sustainable profitability?
- •What future growth or profitability would be needed to justify ICON's current valuation?
Essential Investment Snapshot
Market Cap
$378K
P/E Ratio
-0.3
EPS
$-2.71
52-Week High
$10.85
52-Week Low
$0.78
Beta
5.58
Analyst Target
$35.00
Shares Outstanding
398K
Total Debt
$33.8M
Dividend
No current dividend
Liquidation Value / Share
$68.79
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Neutral / mixed momentum
High movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for ICON
Detected from reported data — verify before acting.Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Elevated debt risk
Total debt is at least one year of revenue • Interest coverage is below 2x • Free cash flow is negative
Community Sentiment
0 active · 0 total callsNo personal call yet on ICON.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Modernized fleet with Kamsarmax and Panamax vessel capabilities.
Potential downside factors
- −Debt risk (elevated): Total debt is at least one year of revenue.
- −Interest coverage is below 2x.
- −Free cash flow is negative.
- −Volatility in charter hire rates and global dry bulk shipping demand.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
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Score Changes
Score changes will appear once more historical records are available.
Price vs. Value
Valuation unavailableCurrent Price
$0.95
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Large reported revenue change: +112.0%
Revenue changed sharply from 2024 to 2025. This can reflect a real business change, acquisition, divestiture, discontinued operations, restatement, or reporting-basis change. Compare the underlying filing before treating it as normal growth or decline.
TTM may combine quarters from before and after the event, so its trend can also be distorted.
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.5M | $11.3M | $5.3M | $4.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $10.1M | $8.7M | $3.8M | $1.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $5.4M | $2.5M | $1.5M | $3.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $2.1M | $1.1M | $345K | $18K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $4.2M | $2.4M | $1.3M | $2.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $6.2M | $3.1M | $1.9M | $2.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $1.3M | $180K | $170K | $1.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $3.1M | $3.8M | $452K | $3K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | -$870K | -$4.2M | -$210K | $1.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | -$870K | -$4.2M | -$210K | $1.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $-3.22 | $-5.83 | $-0.17 | $0.94 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 1.35M | 1.23M | 1.23M | 1.23M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 3.46M | 1.23M | 1.23M | 1.23M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$4.2M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$0.58
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-6.5%
Cash Change
+103.6%
Margin Change
+16.7 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Cash position grew
- Debt reduced
Potential Score Impact
Positive indicators included revenue growth, cash levels, debt levels, net income margin. Pressure indicators included EPS growth. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 107.0%. EPS declined 47.3%. Cash increased 103.6%. Total debt declined 6.5%. Net income margin improved by 16.7 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
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Conservative Projected Values
3 Years
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5 Years
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10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
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3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Marine ShippingRumor Mill · ICON
Corporate developments & opportunities
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