Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Southland Holdings, 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
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
1,279
1,161
1,160
980
772
Cost of revenue
1,165
1,020
1,125
1,043
927
Gross profit
114
141
35.8
-63
-155
Selling, general and administrative
58.1
58.2
67.2
63.3
61.6
General and administrative
1.28
Operating income
56.1
82.7
-31.4
-126
-217
Interest expense
7.26
8.89
19.5
29.5
37
Other non-operating income
2.78
2.2
23.6
3.63
1.74
Pre-tax income
52.5
2.73
-27.2
-152
-252
Income tax
10.9
13.3
-8.53
-46.9
56.5
Net income to minority interests
2.81
2.11
0.54
-0.16
-1.82
Net income
38.7
60.5
-19.3
-105
-307
EBITDA
104
128
-0.85
-103
-194
EPS, basic
-0.41
-2.19
-5.67
EPS, diluted
-0.41
-2.19
-5.67
Shares, basic (weighted)
47.1
48.1
54
Shares, diluted (weighted)
47.1
48.1
54
Balance sheet
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
63.3
57.9
49.2
72.2
52.7
Receivables
136
195
152
145
Inventory
9.8
5.5
4.5
2.6
Other current assets
0.42
24
20.1
19.3
30.3
Total current assets
1.52
867
943
882
734
Property, plant and equipment
114
102
116
107
Lease right-of-use assets
16.9
12.5
14.9
10.5
Goodwill
1.53
1.53
1.53
1.53
Intangible assets
2.22
1.68
1.18
1.18
Long-term investments
3.26
3.24
2.7
2.59
Other non-current assets
3.7
1.71
1.54
0.17
Total assets
282
1,125
1,201
1,204
989
Accounts payable
0.01
126
162
192
225
Accrued liabilities
122
125
91.5
80
Deferred revenue
132
193
250
253
Short-term debt
46.3
48.5
44.5
53.7
Total current liabilities
0.08
476
584
621
655
Long-term debt
227
252
256
204
Lease liabilities
4.7
3.53
5.86
16.4
Other non-current liabilities
1.4
47.7
40.8
40.7
Total liabilities
9.74
765
941
1,028
1,122
Total debt
274
300
300
258
Paid-in capital
270
292
293
Retained earnings
-8.2
-9.33
-19.3
-125
-431
Other comprehensive income
-2.58
-1.46
-3.9
-3.02
Shareholders' equity
-8.2
349
250
164
-141
Minority interests
10.4
10.9
11.8
8.43
Total equity
259
317
261
175
-133
Total liabilities and equity
282
1,125
1,201
1,204
989
Shares outstanding
8.31
0
47.9
53.9
54.1
Cash flow statement
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
41.5
62.7
-18.7
-106
-308
Depreciation and amortization
47.5
45.7
30.5
23.3
23.2
Deferred income tax
-0.27
-2.1
-12.3
-44.8
57.3
Change in receivables
-7.41
-18.4
-49
9.92
23.1
Change in payables
26.5
-13.5
46.6
-3.65
23.6
Cash from operations
-90.6
-66.2
-10.3
1.93
16.6
Capital expenditures
-18.8
-4.77
-10.8
-7.42
-3.85
Cash from investing
-8.5
5.56
4.49
3.23
3.39
Cash from financing
30.6
20.1
-2.59
18.8
-40.2
Exchange rate effect
-0.69
1.25
0.2
-0.2
0.09
Net change in cash
-69.2
-39.3
-8.17
23.7
-20.1
Free cash flow
-109
-71
-21.1
-5.49
12.7
Income taxes paid
14.1
0.72
7.6
1.6
1.16
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $0.66 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
-44.1%
Gross profit / revenue.
Operating margin
-54.5%
Operating income / revenue.
EBITDA margin
-50.8%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-59.0%
Pre-tax income / revenue.
Net margin
-67.0%
Net income / revenue.
FCF margin
-26.1%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-25.9%
Cash from operations / revenue.
Return on assets (ROA)
-51.5%
Net income / average total assets.
SG&A / revenue
10.5%
Selling, general and administrative expense / revenue.
Capex / revenue
0.2%
Capital expenditures / revenue.
D&A / revenue
3.7%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-21.2%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-12.7%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y
760.5%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-186.1%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-17.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-4.2%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
12.4%
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
1.27x
Current assets / current liabilities.
Quick ratio
0.33x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.08x
(Cash + short-term investments) / current liabilities.
Debt / assets
26.4%
Total debt / total assets.
Liabilities / assets
131.6%
Total liabilities / total assets.
Net debt
$171.9M
Total debt - cash - short-term investments. Negative means more cash than debt.
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.
Revenue per share
$11.12
Revenue / diluted weighted shares.
FCF per share
-$2.91
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$2.88
Cash from operations / diluted weighted shares.
Book value per share
-$4.66
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.06x
Market cap / revenue.
EV/Sales
0.34x
Enterprise value / revenue.
FCF yield
-439.5%
Free cash flow / market cap.
Earnings yield
-1,127.0%
Net income / market cap (the inverse of P/E).
What was Southland Holdings, Inc.'s revenue in fiscal 2025?
Southland Holdings, Inc. reported revenue of $772.2M for fiscal 2025, 21.2% lower than the year before.
Was Southland Holdings, Inc. profitable in fiscal 2025?
No. It reported a net loss of $306.5M.
How much free cash flow did Southland Holdings, Inc. generate in fiscal 2025?
Cash from operations of $16.6M minus capital expenditures of $3.8M left free cash flow of $12.7M.
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.