Icon Energy Corp. ICON

Competitive advantage analysis · industrials

Corporate Default
Overall moat score
21/100
Weak

Ranked against 33 peers in Marine Shipping

About Icon Energy Corp.

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 … Full ICON analysis →

Key risks

  • ROIC Below WACC or Peers ROIC at 19.4th percentile suggests inefficient capital deployment.
  • Elevated Debt Risk Debt serviceability is weak (score 0.17), raising refinancing risk.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Weak
21
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where ICON ranks in Marine Shipping

Icon Energy Corp. ranks #31 of 34 scored companies in Marine Shipping by moat score — the top 91%. The widest moat in the group is Euroseas Ltd. (ESEA) at 86/100.

# Company Moat score Rating
26 Genco Shipping & Trading Limite GNK 30/100 Developing
27 SEACOR Marine Holdings Inc. SMHI 30/100 Developing
28 Castor Maritime Inc. CTRM 30/100 Developing
29 Toro Corp. TORO 24/100 Weak
30 EuroDry Ltd. EDRY 24/100 Weak
31 Icon Energy Corp. ICON 21/100 Weak
32 High-Trend International Group HTCO 19/100 Weak
33 United Maritime Corporation USEA 14/100 Weak
34 OceanPal Inc. OP 0/100 Weak

See every General Corporate company ranked by moat score →

How ICON scores on the Corporate Default defenses

Pricing Power

Score 21 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 27 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 21 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 15 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 17 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 24 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding ICON's moat

What is Icon Energy Corp.'s moat score?

Icon Energy Corp. (ICON) scores 21 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as weak. It ranks #31 of 34 scored companies in Marine Shipping, the top 91%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 33 companies in Marine Shipping. Its strongest defense is Cost Advantage (27/100) and its weakest is Capital Efficiency (15/100).

How does Icon Energy Corp. compare with other Marine Shipping companies?

Icon Energy Corp. ranks #31 of 34 scored companies in Marine Shipping by moat score. The widest moat in Marine Shipping is Euroseas Ltd. (ESEA) at 86/100. The companies ranked closest are EuroDry Ltd. (EDRY) at 24 just above it and High-Trend International Group (HTCO) at 19 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 33 companies in Marine Shipping. The defenses are then weighted to produce the overall score out of 100.

Why is Icon Energy Corp. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Icon Energy Corp.?

The Corporate Default template measures 6 defenses, and ICON scores: Pricing Power (21), Cost Advantage (27), Customer Stickiness (21), Capital Efficiency (15), Resilience (17), Scale & Market Position (24). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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