Icon Energy Corp (ICON)

Icon Energy Corp., a shipping company, provides seaborne transportation services for dry bulk cargoes through its fleet of oceangoing vessels worldwide. Its fleet consists of one Panamax dry bulk vessel with a carrying capacity of approximately 77,326 deadweight tons (dwt); one Kamsarmax dry bulk vessel with a carrying capacity of approximately 81,448 dwt; and one Ultramax dry bulk vessel with a carrying capacity of approximately 63.668 dwt. The company serves dry bulk operators, commodity traders, and end users. The company was incorporated in 2023 and is based in Athens, Greece. Icon Energy Corp. is a subsidiary of Atlantis Holding Corp.

Ticker: ICON
Exchange: Nasdaq
Sector: Industrials
Industry: Marine Shipping
52-week range: $0.73 - $6.65

Valuation

Share price: $1.00 (close of Nov 6, 2026)
Price to book: 0.03x
Price to free cash flow: -0.13x
Book value per share: $30.89

Price performance

Period	Change
1 day	0.00%
5 days	-2.91%
1 month	+7.53%
3 months	-1.96%
6 months	-18.03%
Year to date	-70.24%
1 year	-84.50%
All time	-99.86%

Short interest

As of: Oct 15, 2026
Short % of float: 0.43%
Shares short: 15.49K
Days to cover: 0.40
Change since prior report: -24.66%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: -19.63%
Return on invested capital: 0.32%
Return on assets: -7.18%
Return on capital employed: 0.33%
Gross margin: 9.77%
Net margin: -32.47%
EBITDA margin: 24.06%
Revenue growth: 141.54%

Cash flow and balance sheet

Current ratio: 1.10x
Net debt to EBITDA: 10.03x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $12.93M
Cost of revenue: $11.66M
Gross profit: $1.26M
EBITDA: $3.11M
Net income: -$4.20M
Interest expense: $3.81M

Income statement by year

Period end	Revenue	Gross profit	Net income
2025-12-31	$12.93M	$1.26M	-$4.20M
2024-12-31	$5.35M	$515.00K	-$210.00K
2023-12-31	-	-	$1.16M
2022-12-31	-	-	$4.24M

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	9.77%	-32.47%	-19.63%	0.32%
2024-12-31	9.62%	-3.92%	-1.79%	0.61%
2023-12-31	-	-	12.60%	12.05%
2022-12-31	-	-	29.62%	29.45%

Cash and debt by year

Period end	Cash
2025-12-31	$3.88M
2024-12-31	$946.00K
2023-12-31	$2.70M

Free cash flow by year

Period end	Free cash flow
2025-12-31	-$5.29M
2024-12-31	-$17.16M
2023-12-31	$2.48M
2022-12-31	$3.76M

Dividend history

Most recent payment: May 16, 2025

Payment date	Dividend per share
2025-05-16	$0.07
2024-12-16	$0.09
2024-09-13	$0.08

Investor relations

Next earnings report

Next confirmed report: Nov 13, 2026
Consensus EPS estimate: $-0.24

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-08-14	Jun 2026	-
2026-06-09	Mar 2026	-
2025-07-03	Mar 2025	-
2021-08-11	-	-
2020-12-31	-	-
2019-09-30	-	-
2019-06-30	-	-
2011-10-27	-	-

Filings and sources

Company website: icon-nrg.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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