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Icon Energy Corp. (ICON) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Icon Energy Corp. stock $1.09, price $1.00, upside +8.8%, quality 10 out of 100. Rating: fairly valued. Calculated from audited financials with 3 of our 26 valuation models and 37 quality factors, updated daily.

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Industrials US · Based in Greece · ISIN MHY4001C3055

IE Icon Energy Corp. logo Thin data Nov 7, 2026

Icon Energy Corp.

ICON · US
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Last quarter vs. a year ago: revenue +107%, profit +33%.
Fair value $1.09 · Fairly valued
Mixed Growth (revenue 3y +15.8 %/yr in USD)
Mixed vs. peers (5/10)
Quality 10/100
Loss-making · -5.6% net margin (TTM)
Negative free cash flow
Narrow moat 6/100 · thin data
Thin data
⟳ Cyclical⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$677.70 $0.7842 Fair Value $1.09 Jul 2024 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

28‑month range $0.7842 – $677.70 · fair‑value band $1.06 – $1.10 · the $1.00 price screens below the $1.09 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. As of Nov 7, 2026.

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Company profile

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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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 $1.00, while our model-based Fair Value estimate is $1.09, so the stock looks roughly fairly valued today (gap 8.1%).

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Valuation

Bull case: the Multiples group reads highest at a median of $4.56 per share, and 3 of the 3 models we run sit above the $1.00 price.

Bear case: the Earnings-Based group reads lowest at $1.28, and 0 of the 3 models stay below the price. Data coverage for this calculation is low.

Scenario range: $1.06 (bear) to $1.10 (bull), the price of $1.00 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 10/100 (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 $3.5M Micro · P/S ratio 0.22 · EPS (TTM) $−2.17 · Dividend yield 4.4% · Net margin −37.3% · Return on equity −3.6% · Return on assets (EBIT) 12.2% (5-year average) · Operating margin −3.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).

What moves the price

The share trades about 85% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 13% fair-value upside, at 9%, ICON screens richer than that median.

Fair Value models

Bear $1.06 Fair Value $1.09 Bull $1.10
Price $1.00 · Upside +8.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = 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.
Best data coverage
EPV $1.25 $1.28 $1.29 70
ROIC Compounder $1.25 $1.28 $1.29 68
EV/EBITDA $1.29 $4.56 $7.83 58
All 3 models by family
Earnings-Based
EPV $1.25 $1.28 $1.29 70
Multiples
EV/EBITDA $1.29 $4.56 $7.83 58
Economic Profit
ROIC Compounder $1.25 $1.28 $1.29 68

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 10/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 2
How much profit the company makes from its sales and capital
Quality Growth 31
Are margins and returns getting better?
Cashflow 12
Do the profits arrive as real cash?
Financial strength 35
Debt, balance sheet and risk of trouble
Investment 10
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 19
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 2
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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%
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
not computed

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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 · 220 stocks

Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 10 · Bottom 25%
Fair Value upside +8.8% · Above median
Profitability
Return on assets −7.2% · Bottom 25%
Net margin (12 months) −5.6% · Bottom 25%
Operating margin (12 months) −3.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 107.0% · Top 25%
Dividend yield (12 months) 4.4% · Above median

Valuation Multiplesvs Marine Shipping median · lower = cheaper

P/B 0.16× · Cheapest 25%
P/S (12 months) 0.22× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)45 · sector 45
FUTURE (revenue growth)100 · sector 60
PAST (return on equity)0 · sector 36
HEALTH (low debt)0 · sector 89
DIVIDEND (yield)89 · sector 61

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Marine Shipping stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
China Merchants Port Holdings 0144 HK$16.68 HK$28.60 +71% vs ICON
HMM Co 011200 22,050 KRW 30,253 KRW +37% vs ICON
Qingdao Port International Co 601298 ¥9.75 ¥12.84 +32% vs ICON
Ningbo Zhoushan Port Company 601018 ¥3.56 ¥4.35 +22% vs ICON
The National Shipping Company 4030 34.86 SAR 39.45 SAR +13% vs ICON
Shanghai International Port (Group) Co 600018 ¥5.68 ¥6.41 +13% vs ICON
COSCO SHIPPING Holdings 601919 ¥17.47 ¥18.42 +5% vs ICON
Hapag-Lloyd Aktiengesellschaft, HLAG €127.50 €108.70 −15% vs ICON
Wan Hai Lines Ltd 2615 107.00 TWD 67.03 TWD −37% vs ICON
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,937 ₹1,051 −46% vs ICON

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Icon Energy Corp.: fair value per Fair Value Calculator

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 Nov 7, 2026, our model estimates a fair value of $1.09 versus a price of $1.00, about +9% upside (fairly valued).
What is the fair value of ICON?
Our model-based fair value for Icon Energy Corp. is $1.09 (as of Nov 7, 2026), built from audited fundamentals. The current price: $1.00.
What is the quality score of ICON?
Icon Energy Corp. has a Quality Score of 10/100. 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 $1.09 (as of Nov 7, 2026) from 3 valuation models. Cautious scenario $1.06, optimistic scenario $1.10. 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 $1.09, about +9% upside versus a price of $1.00 (fairly valued). Cautious scenario $1.06, optimistic scenario $1.10. 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 $15.5M (latest available figure, as of Nov 7, 2026).
Does Icon Energy Corp. pay a dividend?
Icon Energy Corp. currently shows a dividend yield of 4.45% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Icon Energy Corp. (ICON)?
Icon Energy Corp. has a dividend yield of 4.4%.
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 $1.09 per share (as of Nov 7, 2026), against a price of $1.00. It is the blended result of 3 valuation models in 3 families (Earnings-Based, Multiples, Economic Profit).
Is Icon Energy Corp. stock overvalued or undervalued in 2026?
As of Nov 7, 2026, ICON trades below its calculated fair value: price $1.00, fair value $1.09, a gap of about +9% (fairly valued). 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 ($1.00); the fair value is what the company's own numbers justify ($1.09). For Icon Energy Corp. the two are $0.0880 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 $3.5M (market capitalisation, as of Nov 7, 2026). Per share that is $1.00; our models calculate a fair value of $1.09 per share.
What do the bullish and bearish scenarios say about ICON?
Our models span a range for Icon Energy Corp.: cautious scenario $1.06, base $1.09, optimistic $1.10 per share (as of Nov 7, 2026, price $1.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Icon Energy Corp. (ICON)?
Balance-sheet figures for Icon Energy Corp. (as of Nov 7, 2026): return on equity −3.6%. They feed the Quality Score of 10/100, which measures business quality independently of the share price.
How far is ICON from its 52-week high?
Icon Energy Corp. trades at $1.00, about 85% below its 52-week high of $6.50 and 28% above the low of $0.7842 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $1.09 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 Nov 7, 2026: price $1.00, calculated fair value $1.09 (+9%), Quality Score 10/100, from 3 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 3 models from 3 families: Earnings-Based, Multiples, Economic Profit. Every model gets the same audited fundamentals; the fair value of $1.09 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Icon Energy Corp. currently trades 8% 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 Nov 6, 2026 was $1.00. Our model-based fair value is $1.09, about +9% upside (fairly valued). 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 price is below even our cautious bear case ($1.06). The market is more pessimistic than our downside scenario. The price sits close to our fair value, market and models broadly agree here, little valuation tension. The models converge in a tight band ($1.06 to $1.10), unusually little disagreement for a valuation. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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 $3.5M. 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 0.22 (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 $−2.17. 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 4.4%. 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 −3.6% (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 −3.5% (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 +107% 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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