Icon Energy Corp. (ICON) AI Stock Analysis

Icon Energy Corp., a shipping company incorporated in 2023 and based in Athens, Greece, provides seaborne transportation services for dry bulk cargoes through its fleet of oceangoing vessels worldwide. The company is a subsidiary of Atlantis Holding Corp. 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. It serves dry bulk operators, commodity traders, and end users.

Annual revenue fluctuated from $6.0M in FY2021 to $7.2M in FY2022, before dropping to $4.5M in FY2023. Revenue expanded 18.6% to $5.3M in FY2024 and rose 112.0% to $11.3M in FY2025. However, gross margin contracted from 85.7% in FY2021 to 22.5% in FY2025, while net income shifted from $3.3M in FY2021 to -$4.2M in FY2025. Over the trailing twelve months, revenue reached $15.5M with an operating margin of -3.5% and a net profit margin of -5.6%. In the latest quarter ended June 30, 2026, quarterly revenue growth was 107.0% year-over-year and quarterly earnings growth was 32.6%.

As of June 30, 2026, Icon Energy held $7.7M in cash and short-term investments alongside total debt of $33.8M, resulting in net debt of $26.1M. Shareholders' equity stood at $27.4M against total assets of $64.8M. The company maintained a current ratio of 1.55 and a debt-to-equity ratio of 1.24. In FY2025, operating cash flow generated was $799,000, while free cash flow was -$5.3M due to $6.1M in capital expenditures. Cash flow use in FY2025 also included $153,000 in dividends paid.

Icon Energy trades at a price-to-sales multiple of 0.2x and an EV-to-EBITDA multiple of 4.6x, compared to medians of 1.5x and 13.9x, respectively, for its US-listed Industrials peer group. The stock carries a price-to-book ratio of 0.1x and an enterprise value of $29.7M relative to a market capitalization of $3.7M. Over the past year, the shares fell 88.8%, underperforming the S&P 500 return of 16.8%. The stock also trades 17.7% below its 200-day average.

Wall Street coverage consists of 1 Buy rating, with 0 Strong Buy, Hold, Sell, or Strong Sell recommendations. The mean price target is $3.00, representing an upside of 191.3% over the last close of $1.03. For the fiscal year ending December 31, 2026, analysts estimate revenue of $17.7M and an EPS of -$1.41. For the following fiscal year, 1 analyst projects revenue of $18.4M and an EPS of -$1.18. Icon Energy has beaten EPS estimates in 2 of the last 4 quarters, with its next earnings date scheduled for November 13, 2026.

This page is an AI-written research summary of Icon Energy Corp. (ICON). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: ICON income statement, ICON balance sheet, ICON key metrics, ICON analyst forecast, ICON chart. See the ICON stock overview for the latest quote and news.