Icon Energy Corp. (ICON) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Icon Energy Corp. $1.32, price $0.99, upside +33.3%, quality 22 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
26‑month range $0.8102 – $677.70 · fair‑value band $1.28 – $1.35 · the $0.9900 price screens below the $1.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Icon Energy Corp., a shipping company, provides seaborne transportation services for dry bulk cargoes through its fleet of oceangoing vessels worldwide.
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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.
Stock analysis
Icon Energy Corp. (ICON) currently trades at $0.9900, while our model-based Fair Value estimate is $1.32, implying the stock looks roughly 25.0% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of $3.94 per share, and 6 of the 8 models we run sit above the $0.9900 price.
Bear case: the Dividend Discount group reads lowest at $0.6100, and 2 of the 8 models stay below the price. Evidence for this calculation is low.
Scenario range: $1.28 (bear) to $1.35 (bull), the price of $0.9900 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 22/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Icon Energy Corp. reported revenue of $11.3M in FY2025 versus $6.0M in FY2021, a compound +17.2%/yr. Reported net income was −$4.2M in FY2025.
Key figures
Market cap $3.3M · P/E ratio 0.0 · P/S ratio 0.30 · EPS (TTM) $927.23 · Dividend yield 4.6% · Net margin −37.3% · Return on equity −25.3% · Return on assets (EBIT) 12.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
The share trades about 91% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 61% fair-value upside, at 33%, ICON screens richer than that median.
Fair Value models
Bear $1.28Fair Value $1.32Bull $1.35
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($678.28 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.30/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+112.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.8%
Revenue growth 36 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.3%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
55.5% (2021) → 1.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Marine Shipping · 233 stocks
Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score22 · Bottom 25%
Fair Value upside+33% · Above median
Profitability
Return on assets0% · Bottom 25%
Net margin (TTM)−37% · Bottom 25%
Operating margin (TTM)3% · Bottom 25%
Growth and dividend
Revenue growth105% · Top 25%
Dividend yield (TTM)4.6% · Top 25%
Valuation Multiplesvs Marine Shipping median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Icon Energy Corp. Fair Value". https://www.fairvalue-calculator.com/stock/ICON
Frequently asked questions
Is Icon Energy Corp. (ICON) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $1.32 versus a price of $0.9900, about +33% upside (undervalued).
What is the fair value of ICON?
Our model-based fair value for Icon Energy Corp. is $1.32 (as of Sep 24, 2026), built from audited fundamentals. The current price: $0.9900.
What is the quality score of ICON?
Icon Energy Corp. has a Quality Score of 22/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Icon Energy Corp. (ICON)?
Our model-based price target is the fair value of $1.32 (as of Sep 24, 2026) from 8 valuation models. Cautious scenario $1.28, optimistic scenario $1.35. It is a calculation from audited fundamentals, not an analyst target.
What is the Icon Energy Corp. stock forecast for 2026?
Our models put fair value at $1.32, about +33% upside versus a price of $0.9900 (undervalued). Cautious scenario $1.28, optimistic scenario $1.35. The calculation is refreshed regularly with new filings.
What is the revenue of Icon Energy Corp. (ICON)?
Icon Energy Corp. reported trailing-twelve-month revenue of about $11.3M (latest available figure, as of Sep 24, 2026).
Does Icon Energy Corp. pay a dividend?
Icon Energy Corp. currently shows a dividend yield of about 4.60% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Icon Energy Corp. (ICON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Icon Energy Corp. it is $1.32 per share (as of Sep 24, 2026), against a price of $0.9900. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Icon Energy Corp. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ICON trades below its calculated fair value: price $0.9900, fair value $1.32, a gap of about +33% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ICON?
No. The price is what the market pays today ($0.9900); the fair value is what the company's own numbers justify ($1.32). For Icon Energy Corp. the two are $0.3300 per share apart. That gap is exactly why we show both numbers side by side.
How much is Icon Energy Corp. worth?
The market values Icon Energy Corp. at about $3.3M (market capitalisation, as of Sep 24, 2026). Per share that is $0.9900; our models calculate a fair value of $1.32 per share.
What do the bullish and bearish scenarios say about ICON?
Our models span a range for Icon Energy Corp.: cautious scenario $1.28, base $1.32, optimistic $1.35 per share (as of Sep 24, 2026, price $0.9900). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ICON?
Icon Energy Corp. trades at a price-to-earnings ratio of 0.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $1.32 is built from several models across several years. Other multiples: P/B 0.2, P/S 0.3.
How solid is the balance sheet of Icon Energy Corp. (ICON)?
Balance-sheet figures for Icon Energy Corp. (as of Sep 24, 2026): return on equity −25.3%. They feed the Quality Score of 22/100, which measures business quality independently of the share price.
How far is ICON from its 52-week high?
Icon Energy Corp. trades at $0.9900, about 91% below its 52-week high of $11.05 and 22% above the low of $0.8102 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $1.32 is for.
Which stocks are comparable to Icon Energy Corp.?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Icon Energy Corp. stock attractive at the current price?
The data as of Sep 24, 2026: price $0.9900, calculated fair value $1.32 (+33%), Quality Score 22/100, from 8 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ICON calculated?
We run Icon Energy Corp. through 8 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $1.32, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Icon Energy Corp. currently trades 33 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Icon Energy Corp. (ICON)?
The closing price on Sep 23, 2026 was $0.9900. Our model-based fair value is $1.32, about +33% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Icon Energy Corp. right now?
The large discount to fair value meets weak quality (22/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($1.28). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. The models converge in a tight band ($1.28 to $1.35), unusually little disagreement for a valuation.
Where does the earnings growth of Icon Energy Corp. (ICON) come from?
Earnings per share at Icon Energy Corp. grew −21.4 % a year from 2012 to 2023. Broken into its drivers: revenue per share −25.2 %, EBIT margin −2.0 %, tax rate +3.2 %, residual (interest, one-offs) +4.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Icon Energy Corp.
How large is the market capitalisation of Icon Energy Corp. (ICON)?
The market capitalisation of Icon Energy Corp. is $3.3M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Icon Energy Corp. (ICON)?
The price-to-sales ratio of Icon Energy Corp. is 0.30 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Icon Energy Corp. (ICON)?
Earnings per share at Icon Energy Corp. are $927.23 (price ÷ EPS = P/E 0.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Icon Energy Corp. (ICON)?
The dividend yield of Icon Energy Corp. is 4.6% (payout 0.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Icon Energy Corp. (ICON)?
The net margin of Icon Energy Corp. is −37.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Icon Energy Corp. (ICON)?
The return on equity (ROE) of Icon Energy Corp. is −25.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Icon Energy Corp. (ICON)?
On an EBIT basis the return on assets of Icon Energy Corp. is 12.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Icon Energy Corp. (ICON)?
The operating margin of Icon Energy Corp. is 3.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Icon Energy Corp. (ICON)?
Revenue at Icon Energy Corp. is growing +105% versus a year earlier (3y avg +15.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Icon Energy Corp. (ICON)?
Earnings per share at Icon Energy Corp. are growing +32.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Icon Energy Corp. (ICON) generate?
The free cash flow of Icon Energy Corp. is −$5.3M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Icon Energy Corp. (ICON) carry?
The net debt of Icon Energy Corp. is $30.9M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Sep 24, 2026