Public Policy Holding Company, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 2 fiscal years, taken from the XBRL data Public Policy Holding Company, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2025
FY2025
Revenue
150
187
Cost of revenue
132
168
Gross profit
17.3
18.6
General and administrative
26.8
31.8
Operating income
-18.2
-33.9
Interest expense
1.9
3.4
Interest income
0.18
0.08
Other non-operating income
0
0.59
Pre-tax income
-17.4
-34.6
Income tax
6.55
4.4
Net income
-24
-39
EBITDA
-13.9
-28.2
EPS, basic
-2.34
-2.37
EPS, diluted
-2.34
-2.37
Shares, basic (weighted)
13.4
17.5
Shares, diluted (weighted)
13.4
17.5
Balance sheet
FY2025
FY2025
Cash and equivalents
14.5
20.4
Receivables
18.3
21.9
Other current assets
2.73
9.6
Total current assets
45.7
58.6
Property, plant and equipment
0.75
0.6
Lease right-of-use assets
18.4
18.8
Goodwill
64.3
57
Intangible assets
32.1
37.1
Other non-current assets
0.19
0.28
Total assets
174
203
Accounts payable
4.75
6.25
Deferred revenue
3.15
3.31
Short-term debt
6.03
9.08
Total current liabilities
37.8
52.9
Long-term debt
26
37.9
Lease liabilities
16.8
16.5
Other non-current liabilities
3.75
10.6
Total liabilities
93.2
128
Total debt
32
47
Paid-in capital
197
237
Retained earnings
-116
-163
Other comprehensive income
-0.54
1.19
Shareholders' equity
81.3
74.9
Total equity
81.3
74.9
Total liabilities and equity
174
203
Shares outstanding
24
25.2
Cash flow statement
FY2025
FY2025
Net income
-24
-39
Depreciation and amortization
4.24
5.68
Deferred income tax
-1.29
-2.63
Change in payables
-2.05
6.33
Cash from operations
16.4
24.8
Capital expenditures
-0.06
-0.01
Acquisitions
-19.8
-21.1
Cash from investing
-19.5
-21.6
Dividends paid
-16.8
-8.66
Cash from financing
3.34
2.55
Net change in cash
0.2
5.9
Free cash flow
16.3
24.8
Interest paid
1.72
3.17
Income taxes paid
10
5.94
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $11.06 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
10.0%
Gross profit / revenue.
Operating margin
-18.2%
Operating income / revenue.
EBITDA margin
-15.1%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-18.5%
Pre-tax income / revenue.
Net margin
-20.9%
Net income / revenue.
FCF margin
13.3%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
13.3%
Cash from operations / revenue.
Return on equity (ROE)
-50.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-20.7%
Net income / average total assets.
Return on invested capital (ROIC)
-26.8%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue
0.0%
Capital expenditures / revenue.
D&A / revenue
3.0%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
24.7%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
8.0%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
51.0%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
51.5%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-7.8%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
16.1%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
30.3%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.11x
Current assets / current liabilities.
Quick ratio
0.80x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.39x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.63x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
23.2%
Total debt / total assets.
Liabilities / assets
63.0%
Total liabilities / total assets.
Net debt
$26.6M
Total debt - cash - short-term investments. Negative means more cash than debt.
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$2.37
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$2.37
Net income per basic share, as reported (split-adjusted).
Revenue per share
$10.68
Revenue / diluted weighted shares.
FCF per share
$1.42
Free cash flow / diluted weighted shares.
Operating cash flow per share
$1.42
Cash from operations / diluted weighted shares.
Book value per share
$2.98
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Dividends paid / free cash flow, when free cash flow is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$278.0M
Share price x shares outstanding.
Enterprise value
$304.5M
Market cap + total debt - cash - short-term investments.
P/S
1.49x
Market cap / revenue.
P/B
3.71x
Market cap / shareholders' equity. Only when equity is positive.
P/FCF
11.2x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
11.2x
Market cap / cash from operations, when positive.
EV/Sales
1.63x
Enterprise value / revenue.
EV/FCF
12.3x
Enterprise value / free cash flow, when both are positive.
FCF yield
8.9%
Free cash flow / market cap.
Earnings yield
-14.0%
Net income / market cap (the inverse of P/E).
Dividend yield
3.1%
Dividends paid over the period / market cap.
Shareholder yield
3.1%
(Dividends paid + share buybacks) / market cap.
What was Public Policy Holding Company, Inc.'s revenue in fiscal 2025?
Public Policy Holding Company, Inc. reported revenue of $186.5M for fiscal 2025, 24.7% higher than the year before.
Was Public Policy Holding Company, Inc. profitable in fiscal 2025?
No. It reported a net loss of $39.0M.
How much free cash flow did Public Policy Holding Company, Inc. generate in fiscal 2025?
Cash from operations of $24.8M minus capital expenditures of $11.0K left free cash flow of $24.8M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.