Icon Energy Corp. Common stock (ICON)

FairStock Score: 61/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

At the close on 2026-10-13, Icon Energy traded at $0.81, giving a $3.2 million market cap. That is cigar-butt territory. The company owns three dry bulk vessels—one Panamax, one Kamsarmax, and one Ultramax—so the equity is a claim on a small, cyclical fleet. On the surface, the price looks cheap: FairStock calculates P/B at 0.11 and EV/EBITDA at 4.50. But Graham taught me that a low multiple without earning power is often a trap. The latest reported quarter, fiscal Q2 2026, showed revenue of $4.2 million and a net loss of $784,000, a -18.73% margin. Trailing free cash flow is -$1.1 million, a -34.1% FCF yield. The balance sheet carries D/E of 1.24, while Altman Z is 0.08 and Piotroski is 2/9—both scream financial weakness. ROE is -3.64% and ROCE is only 1.27%, so capital is not working. The 92.11% dividend yield looks impossible against negative cash flow. Beta of 5.57 and a 52-week range of $0.78–$9.65 show how violently the market has repriced this equity. FairStock's Lynch category is none because there are only 0 years of filed results, versus the 3 required. This is not a durable business with a moat; it is a tiny, leveraged, loss-making shipping venture. The only way it works is if vessel earnings inflect enough to cover costs and repair the balance sheet. Until then, the asset discount is speculative.

In plain English: Icon Energy is a small shipping company that owns a few dry bulk vessels and carries cargoes like coal, grain, and ore. The business is currently weak: in its latest reported quarter it had $4.2 million of revenue but lost $784,000, and its cash flow is negative. The stock price looks very low compared with the company's accounting value, but the losses, debt, and very high dividend payout suggest the low price may reflect real financial risk rather than a bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer