Equity Research Analysis: Icon Energy Corp (ICON)
|Blank Capital Research Unit|Spot: $1.37
Price$1.37
Composite Score40.7/100
RatingREDUCE (2★)
Rank#3458 OF 7,333
Market Cap$112M
ROE
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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#3458
Positioning
Market Dominance
Transportation, Communications, Electric, Gas, And Sanitary Services
Transportation
$112M
Ismini Panagiotidi
We are an international shipping company that was recently incorporated in the Republic of the Marshall Islands for the purpose of acquiring, owning, chartering and operating dry bulk vessels. Icon Energy is a holding company existing under the laws of the Republic of the Marshall Islands. We maintain our principal executive offices at c/o Pavimar Shipping Co., 17th km National Road Athens-Lamia & Foinikos Str. 14564, Nea Kifissia, Athens, Greece.
Headcount
—
HQ Base
NEA KIFISSIA, ATHENS,
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Dates updated upon official exchange announcement.
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UGP ULTRAPAR HOLDINGS INC | 79 | 90 | 95 | 87 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$TNK TEEKAY TANKERS LTD. | 78 | 94 | 97 | 82 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$DHT DHT Holdings, Inc. | 75 | 84 | 88 | 78 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$STNG Scorpio Tankers Inc. | 75 | 86 | 95 | 74 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$NAT NORDIC AMERICAN TANKERS Ltd | 75 | 82 | 88 | 87 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$AMX AMERICA MOVIL SAB DE CV/ | 74 | 86 | 81 | 68 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$PAC Pacific Airport Group | 73 | 94 | 80 | 78 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$GSL Global Ship Lease, Inc. | 73 | 82 | 94 | 81 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$TRMD TORM plc | 73 | 86 | 94 | 65 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$VIV TELEFONICA BRASIL S.A. | 73 | 82 | 90 | 78 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$ICON Icon Energy Corp | 41 | 37 | 19 | 67 | - | 2.5x | -7.1% | -2.9% | 100.0% | 3.2% | -4.0% | 18.6% | 7.4% | 136.0x | $112M | ||
| SECTOR BENCH | - | - | - | - | - | 16.9x | 6.1x | 11.9% | 3.2% | 52.6% | 14.8% | 7.7% | 4.2% | 1.4% | 1.3x | - | REF |
Icon Energy Corp (ICON) receives a "Reduce" rating with a composite score of 40.7/100. It ranks #3458 out of 7,333 stocks in our coverage universe and carries a 2-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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Outperforming peers — winners tend to keep winning over 3-12 months
Expensive relative to fundamentals — limited margin of safety
Average quality profile
High volatility — wider range of outcomes increases timing risk
Aggressive spending — empire-building risk, dilutive growth
Mid-range overall rating
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Relative valuation derived from Transportation, Communications, Electric, Gas, And Sanitary Services sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
No analyst ratings for ICON.
View All Ratings| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 37 | 31 | +6ALPHA |
| MOMENTUM | 67 | 75 | -8DRAG |
| VALUATION | 19 | 9 | +10ALPHA |
| INVESTMENT | 21 | 4 | +17ALPHA |
| STABILITY | 4 | 1 | +3NEUTRAL |
| SHORT INT | 90 | 96 | -6DRAG |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROIC 0.9% vs WACC 3.6% (spread -2.7%)
GM 100% vs sector 53%, OM 3% vs sector 15%
Capital turnover 0.35x
Rev growth 19%
Interest coverage 0.4x, Net debt/EBITDA 8.1x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
We rate Icon Energy Corp (ICON) as a Reduce with a composite score of 40.7/100 at a current price of $1.37. The quantitative profile shows weakness across multiple dimensions, suggesting limited upside potential.
Icon Energy Corp holds a top-quartile position (#0 of 50) within the Transportation, Communications, Electric, Gas, And Sanitary Services sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 40.7/100 places it at rank #3458 in our full universe.
The near-term outlook is constructive, with revenue growing at 19% and momentum in the 67th percentile confirming positive market sentiment. The combination of strong top-line growth and favorable price dynamics suggests the company is executing well on its growth strategy.
No Moat
Very High
Poor
Fair Value
Gross margins of 100% signal strong pricing power.
Positive momentum indicates institutional accumulation.
Stable competitive position in a defensive sector.
Leverage of 136% D/E amplifies downside risk.
Vulnerability to macroeconomic shocks and interest rate volatility.
Icon Energy Corp represents a reduce based on multi-factor quantitative performance.
Icon Energy Corp receives a Reduce rating from our analysis, with a composite score of 40.7/100 and 2 out of 5 stars, ranking #3458 out of 7,333 stocks. ICON's factor profile shows weakness across multiple dimensions, suggesting the stock may underperform going forward. Existing holders may want to consider trimming positions or tightening stop-losses.
ICON's quality score of 37/100 is below average, suggesting challenges with profitability or capital efficiency. The company reports a return on equity of -7.1% (sector avg: 11.9%), gross margins of 100.0% (sector avg: 52.6%), net margins of -4.0% (sector avg: 7.7%). Investors should examine whether management is actively addressing these weaknesses or if they reflect structural industry headwinds.
ICON registers a value score of just 19/100, suggesting the stock trades at a significant premium to its fundamental metrics. Key valuation metrics include an EV/EBITDA of 2.53x, a P/B ratio of 0.31x. High-premium valuations like this require strong future execution to avoid multiple compression, and downside risk is elevated if growth disappoints.
Icon Energy Corp's investment score of 21/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of 18.6% vs. a sector average of 4.2% and a return on assets of -2.9% (sector: 3.2%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
ICON demonstrates moderate momentum with a score of 67/100, suggesting a neutral price trend without strong directional conviction. Revenue growth stands at 18.6% year-over-year, while a beta of 1.00 reflects its sensitivity to broader market moves. Moderate momentum may indicate the stock is consolidating or transitioning between trends, warranting close monitoring of upcoming catalysts.
Icon Energy Corp registers a low stability score of 4/100, indicating high volatility and potentially stressed financial conditions. Key stability metrics include a beta of 1.00 and a debt-to-equity ratio of 136.00x (sector avg: 1.3x). Stocks at this level carry elevated capital loss risk and may be unsuitable for conservative portfolios without careful risk management.
ICON's short interest factor score of 90/100 indicates very low short selling activity relative to peers — a positive signal suggesting institutional investors see limited near-term downside. Specific risk factors include elevated leverage (D/E: 136.00x), micro-cap liquidity risk. As a micro-cap company with a market capitalization of $112M, Icon Energy Corp benefits from the generally lower volatility and deeper liquidity associated with its size class.
Icon Energy Corp offers an attractive dividend yield of 7.4%, placing it among the higher-yielding stocks in its peer group. This compares to a sector average dividend yield of 1.4%. A yield this high can provide meaningful income, but investors should verify the payout is sustainable by examining the payout ratio, free cash flow coverage, and any history of dividend cuts.
Icon Energy Corp is a micro-cap company in the Transportation, Communications, Electric, Gas, And Sanitary Services sector, ranked #0 of 50 in its sector (100th percentile) and #3458 of 7,333 overall (53rd percentile). Key comparisons include ROE of -7.1% trailing the 11.9% sector median and operating margins of 3.2% below the 14.8% sector average. This top-quartile standing reflects exceptional competitive strength relative to Transportation, Communications, Electric, Gas, And Sanitary Services peers.
While ICON currently exhibits a REDUCE profile, superior opportunities exist within the TRANSPORTATION, COMMUNICATIONS, ELECTRIC, GAS, AND SANITARY SERVICES sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
View Top Transportation, Communications, Electric, Gas, And Sanitary Services Alpha →Quant Factor Profile
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Improvement in Stability (4) would have the largest impact on the composite score.
EV/EBITDA 59% BELOW SECTOR MEDIAN (FAVORABLE)
ROE 160% BELOW SECTOR MEDIAN
Gross Margin 90% ABOVE SECTOR MEDIAN (FAVORABLE)
Above 50MA
37.18%
Net New Highs
+51081
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ATHENS, Greece, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Icon Energy Corp. (“Icon” or the “Company”) (Nasdaq: ICON), an international shipping company providing worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels, announced today that since its most recent update, the Company has sold an aggregate of 1,136,470 of its common shares at an average price of $3.11 per share pursuant to advances under the Standby Equity Purchase Agreement (“SEPA”). As previousl
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