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Financial statements

XBP Global Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data XBP Global 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

FY2021FY2022FY2023FY2024
Revenue873
Gross profit43.739.9189
Research and development1.10.90.3
General and administrative2.442.6
Operating income-2.74-1.951.12-105
Interest expense1.05
Interest income0.021.24
Other non-operating income0.80.930.52
Pre-tax income-5.37-4.96-205
Income tax2.560.6110
Income from continuing operations-5.57-6.53
Net income-1.71-7.93-11-215
EBITDA2.444.06-55.1
EPS, basic-0.360.490.41
EPS, diluted-0.360.490.41
Shares, basic (weighted)21.822.530.2
Shares, diluted (weighted)21.822.530.2

Balance sheet

FY2021FY2022FY2023FY2024
Cash and equivalents0.037.476.5411.6
Receivables35.13630.218.7
Inventory4.534.057.2
Other current assets0.28.776.5522.4
Total current assets0.227049.9124
Property, plant and equipment14.612.813.3
Lease right-of-use assets5.855.2130.5
Goodwill242222.839.7
Intangible assets1.531.5133
Other non-current assets0.571.710.7117.8
Total assets251123103390
Accounts payable16.913.342.6
Accrued liabilities1.3524.723.944.9
Deferred revenue5.765.6666.87
Short-term debt4.973.861,433
Total current liabilities2.8510282.11,790
Long-term debt14.412.81.47
Lease liabilities3.963.7923.9
Other non-current liabilities1.581.642.8
Total liabilities10.21501151,847
Total debt19.416.61,435
Paid-in capital0.150.690
Retained earnings-9.5-12.3-11.30
Other comprehensive income-21.1-1.26-7.15
Shareholders' equity-26.5-26.9-1,244-1,457
Total equity-26.5-26.9-1,244-1,457
Total liabilities and equity251123103390
Shares outstanding0.5430.230.2

Cash flow statement

FY2021FY2022FY2023FY2024
Net income-1.71-7.93-11-215
Depreciation and amortization4.392.9450.3
Stock-based compensation0.150.051.6
Deferred income tax0.91-0.420.94
Change in receivables-3.375.996.08
Change in inventory-0.69-0.060.24
Change in payables3.83-2.42-0.37
Cash from operations9.89-1.5423.3
Capital expenditures-6.37-2.33-6.29
Purchases of investments-250-225
Sales and maturities of investments224
Cash from investing-250-6.37-2.67-6.49
Debt issued0
Cash from financing250-1.33-0.31-2.76
Exchange rate effect2.373.94-3.45
Net change in cash4.56-0.5710.6
Free cash flow3.52-3.8717
Interest paid3.031.874.8
Income taxes paid1.291.063.59

Key metrics

Worked out from the statements above. Latest values use fiscal 2024. Valuation uses the share price of $3.33 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Gross margin21.6%Gross profit / revenue.
Operating margin-12.1%Operating income / revenue.
EBITDA margin-6.3%EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin-23.5%Pre-tax income / revenue.
Net margin-24.7%Net income / revenue.
FCF margin1.9%Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin2.7%Cash from operations / revenue.
Return on assets (ROA)-87.3%Net income / average total assets.
R&D / revenue0.0%Research and development expense / revenue.
Stock-based pay / revenue0.2%Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue0.7%Capital expenditures / revenue.
D&A / revenue5.8%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Gross profit growth, 1y373.5%Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y-9,540.0%Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y-1,458.0%EBITDA vs the same period a year earlier. Only from a positive base.
EPS growth, 1y-16.3%EPS vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y280.0%Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y15.9%Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y33.9%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Current ratio0.07xCurrent assets / current liabilities.
Quick ratio0.02x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio0.01x(Cash + short-term investments) / current liabilities.
Debt / assets367.5%Total debt / total assets.
Liabilities / assets473.1%Total liabilities / total assets.
Net debt$1.42BTotal debt - cash - short-term investments. Negative means more cash than debt.
Working capital-$1.67BCurrent assets - current liabilities.
Goodwill and intangibles / assets44.2%(Goodwill + intangible assets) / total assets.
Tangible book value-$1.63BShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover3.54xRevenue / average total assets.
Fixed asset turnover66.8xRevenue / average property, plant and equipment.
Receivables turnover35.7xRevenue / average receivables.
Days sales outstanding10 days365 x average receivables / revenue.
Capex / operating cash flow27.1%Capital expenditures / cash from operations, when that is positive.

Per share

MetricValueHow it is calculated
EPS, diluted$0.41Net 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$0.41Net income per basic share, as reported (split-adjusted).
Revenue per share$28.93Revenue / diluted weighted shares.
FCF per share$0.56Free cash flow / diluted weighted shares.
Operating cash flow per share$0.77Cash from operations / diluted weighted shares.
Book value per share-$48.29Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share-$54.01Tangible book value / shares outstanding.
Cash per share$0.39(Cash + short-term investments) / shares outstanding.

Valuation

MetricValueHow it is calculated
Market cap$39.6MShare price x shares outstanding.
Enterprise value$1.46BMarket cap + total debt - cash - short-term investments.
P/S0.05xMarket cap / revenue.
P/FCF2.33xMarket cap / free cash flow. Only when free cash flow is positive.
P/OCF1.70xMarket cap / cash from operations, when positive.
EV/Sales1.68xEnterprise value / revenue.
EV/FCF86.2xEnterprise value / free cash flow, when both are positive.
FCF yield42.9%Free cash flow / market cap.
Earnings yield-543.8%Net income / market cap (the inverse of P/E).
What was XBP Global Holdings, Inc.'s revenue in fiscal 2024?

XBP Global Holdings, Inc. reported revenue of $872.7M for fiscal 2024.

Was XBP Global Holdings, Inc. profitable in fiscal 2024?

No. It reported a net loss of $215.2M.

How much free cash flow did XBP Global Holdings, Inc. generate in fiscal 2024?

Cash from operations of $23.3M minus capital expenditures of $6.3M left free cash flow of $17.0M.

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.

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