Icon Energy Valuation Multiples

Discover revenue and EBITDA valuation multiples for Icon Energy and similar public comparables like TOP Ships, Rubico, C3is, Intercont (Cayman) and more.

Icon Energy Overview

About Icon Energy

Icon Energy Corp is a growth-oriented shipping company providing seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels. The company generates its revenues by chartering its vessels to regional and international dry bulk operators, commodity traders and end users. The cargos carried by the company are Grains, Minerals, Iron Ore, Coal and Bauxite.


Founded

2023

HQ

Greece

Employees

0

Financials (LTM)

Revenue: $14M
EBITDA: $5M

EV

$29M

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Icon Energy Financials

Icon Energy reported last 12-month revenue of $14M and EBITDA of $5M.

In the same LTM period, Icon Energy generated $5M in EBITDA and had net loss of ($6M).

Revenue (LTM)


Icon Energy P&L

In the most recent fiscal year, Icon Energy reported revenue of $11M and EBITDA of $4M.

Icon Energy is unprofitable as of last fiscal year, with gross margin of 22%, EBITDA margin of 32%, and net margin of (37%).

See analyst estimates for Icon Energy
LTMLast FY202320242025202620272028
Revenue$14M$11M$4M$5M$11M
Gross Profit-$3M$2M$1M$3M
Gross Margin-22%39%28%23%
EBITDA$5M$4M$2M$2M$3M
EBITDA Margin37%32%49%35%27%
EBIT Margin5%2%25%3%2%
Net Profit($6M)($4M)$1M($210K)($4M)
Net Margin(45%)(37%)26%(4%)(37%)
Net Debt-$10M---

Financial data powered by Morningstar, Inc.

Icon Energy Stock Performance

Icon Energy has current market cap of $4M, and enterprise value of $29M.

Market Cap Evolution


Icon Energy's stock price is $1.04.

Icon Energy share price increased by 6.2% in the last 30 days, and decreased by 91.4% in the last year.

Icon Energy has an EPS (earnings per share) of $-1.16.

See more trading valuation data for Icon Energy
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$29M$4M0.0%6.2%-1.9%-91.4%$-1.16

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Icon Energy Valuation Multiples

Icon Energy trades at 2.1x EV/Revenue multiple, and 5.6x EV/EBITDA.

See NTM and 2027E valuation multiples for Icon Energy

EV / Revenue (LTM)


Icon Energy Financial Valuation Multiples

As of July 4, 2026, Icon Energy has market cap of $4M and EV of $29M.

Icon Energy has a P/E ratio of (0.6x).

LTMLast FY202320242025202620272028
EV/Revenue2.1x2.6x6.5x5.5x2.6x
EV/EBITDA5.6x8.1x13.3x15.4x9.4x
EV/EBIT41.2x145.5x26.3x171.2x161.6x
EV/Gross Profit-11.5x16.6x19.8x11.5x
P/E(0.6x)(0.9x)3.3x(18.0x)(0.9x)
EV/FCF(24.7x)36.4x11.7x(1.7x)(5.5x)

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified Icon Energy Valuation Multiples

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Icon Energy Margins & Growth Rates

Icon Energy grew revenue by 44% and EBITDA by 86% in the last fiscal year.

In the most recent fiscal year, Icon Energy reported gross margin of 22%, EBITDA margin of 32%, and net margin of (37%).

See estimated margins and future growth rates for Icon Energy

Icon Energy Margins

Last FY202420252026202720282029
Gross Margin22%28%23%-
EBITDA Margin32%35%27%41%
EBIT Margin2%3%2%7%
Net Margin(37%)(4%)(37%)(33%)
FCF Margin7%(323%)(47%)(19%)

Icon Energy Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth44%19%112%45%
Gross Profit Growth-(16%)73%-
EBITDA Growth86%(14%)63%118%
EBIT Growth500%(85%)6%567%
Net Profit Growth26%(118%)1899%26%
FCF Growth(488%)(791%)(69%)(41%)

Data powered by FactSet, Inc. and Morningstar, Inc.

Icon Energy Operational KPIs

Icon Energy's Rule of 40 is 86% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Icon Energy's Rule of X is 153% (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for Icon Energy
LTMLast FY202320242025202620272028
Rule of 4059%86%---
Bessemer Rule of X90%153%---
G&A Expenses to Revenue12%10%0%6%10%
Opex to Revenue-21%14%24%21%

Data powered by FactSet, Inc. and Morningstar, Inc.

Valuation Multiples Across 230+ Verticals

Icon Energy Competitors

Icon Energy competitors include TOP Ships, Rubico, C3is, Intercont (Cayman), Ramlösa Shipping, Bulgarian River Shipping, AMSC, Erria, OceanPal and ADS.

Most Icon Energy public comparables operate across Marine Transportation.

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
TOP Ships2.5x-4.9x-
Rubico3.5x-6.1x-
C3is(0.7x)-(1.4x)-
Intercont (Cayman)0.6x-1.3x-
Ramlösa Shipping0.8x-1.7x-
Bulgarian River Shipping0.6x-(6.0x)-
AMSC--9.6x-
Erria0.3x-5.4x-

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About Icon Energy

When was Icon Energy founded?Icon Energy was founded in 2023.
Where is Icon Energy headquartered?Icon Energy is headquartered in Greece.
How many employees does Icon Energy have?As of today, Icon Energy has over 0 employees.
Who is the CEO of Icon Energy?Icon Energy's CEO is Ismini Panagiotidi.
Is Icon Energy publicly listed?Yes, Icon Energy is a public company listed on Nasdaq.
What is the stock symbol of Icon Energy?Icon Energy trades under ICON ticker.
When did Icon Energy go public?Icon Energy went public in 2024.
Who are competitors of Icon Energy?Icon Energy main competitors include TOP Ships, Rubico, C3is, Intercont (Cayman), Ramlösa Shipping, Bulgarian River Shipping, AMSC, Erria, OceanPal, ADS.
What is the current market cap of Icon Energy?Icon Energy's current market cap is $4M.
What is the current revenue of Icon Energy?Icon Energy's last 12 months revenue is $14M.
What is the current revenue growth of Icon Energy?Icon Energy revenue growth (NTM/LTM) is 21%.
What is the current EV/Revenue multiple of Icon Energy?Current revenue multiple of Icon Energy is 2.1x.
What is the current EBITDA of Icon Energy?Icon Energy's last 12 months EBITDA is $5M.
What is Icon Energy's EBITDA margin?Icon Energy's last 12 months EBITDA margin is 37%.
What is the current EV/EBITDA multiple of Icon Energy?Current EBITDA multiple of Icon Energy is 5.6x.
What is the current FCF of Icon Energy?Icon Energy's last 12 months FCF is ($1M).
What is Icon Energy's FCF margin?Icon Energy's last 12 months FCF margin is (9%).
What is the current EV/FCF multiple of Icon Energy?Current FCF multiple of Icon Energy is (24.7x).
How many companies Icon Energy has acquired to date?Icon Energy hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies Icon Energy has invested to date?Icon Energy hasn't invested in any companies yet (or none have been disclosed publicly).

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