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Definitive Analysis

Financial Statements

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Page: Company Financials

Bena Steel Industries Co.

Ticker: 9563.SR | Industry: Steel | Sector: Basic Materials
$40.00 0.00 (0.00%)
As of: 2026-01-26

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Enterprise Value

Metric 2024 2023 2022 2021 2020
Stock Price 34.82 36.90 39.25 39.25 39.25
Market Capitalization 208.89M 184.48M 196.25M 196.25M 196.25M
(-) Cash & Equivalents 2.91M 5.51M 6.65M 2.18M 1.31M
(+) Total Debt 108.56M 107.89M 109.90M 39.60M 42.07M
Enterprise Value 314.53M 286.85M 299.50M 233.67M 237.01M

Income Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenue 803M 709M 431M 409M 374M 258M 229M
Cost of Revenue 733M 649M 392M 379M 348M 220M 204M
Gross Profit 70M 60M 38M 30M 26M 38M 25M
Gross Profit Margin 8.7% 8.5% 8.9% 7.4% 6.9% 14.9% 10.9%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 33M 23M 15M 13M 11M 13M 12M
Operating Expenses 33M 23M 17M 13M 10M 12M 12M
Operating Income (EBIT) 37M 37M 22M 17M 16M 27M 13M
Operating Income Margin 4.5% 5.2% 5.1% 4.1% 4.2% 10.3% 5.9%
Interest Income 0M 0M 0M 0M 0M 0M 0M
Interest Expense 23M 14M 10M 11M 7M 4M 4M
Net Interest Income -23M -14M -10M -11M -7M -4M -4M
Unusual Items 0M 0M 1M 0M 0M 0M 1M
EBT Excluding Unusual Items 14M 23M 11M 6M 9M 23M 9M
Pre-Tax Income 14M 23M 12M 6M 8M 23M 10M
Pre-Tax Margin 1.7% 3.3% 2.9% 1.4% 2.2% 8.8% 4.2%
Income Tax Expense 3M 2M 2M 1M 1M 1M 0M
Net Income 11M 21M 11M 5M 8M 22M 10M
Net Income Margin 1.4% 3.0% 2.5% 1.2% 2.1% 8.4% 4.2%
Depreciation & Amortization 9M 10M 5M 5M 5M 5M 3M
EBITDA 45M 47M 26M 21M 21M 32M 16M
EBITDA Margin 5.6% 6.6% 6.1% 5.2% 5.5% 12.3% 7.1%
NOPAT 30M 34M 19M 14M 14M 25M 13M
NOPAT Margin 3.7% 4.7% 4.4% 3.4% 3.9% 9.8% 5.9%
Owner's Earnings 10M 26M 10M 5M 11M 25M 11M
Owner's Earnings Margin 1.3% 3.7% 2.2% 1.1% 3.1% 9.8% 4.8%
EPS (Basic) 1.86 4.23 1.78 0.80 1.28 3.60 1.60
EPS (Diluted) 1.96 4.23 1.78 0.80 1.54 4.32 1.92
Shares (Basic) 6M 5M 6M 6M 5M 5M 5M
Shares (Diluted) 6M 5M 6M 6M 5M 5M 5M

Balance Sheet

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash & Cash Equivalents 2.30M 2.76M 2.76M 0.46M 3.70M 4.36M 2.62M
Short-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 2.30M 2.76M 2.76M 0.46M 3.70M 4.36M 2.62M
Net Receivables 113.44M 103.79M 103.79M 89.30M 84.13M 69.29M 69.60M
Inventory 129.65M 102.08M 102.08M 109.11M 103.95M 84.19M 80.21M
Other Current Assets 0.00M 0.23M 0.23M 2.04M 0.19M 0.17M 0.16M
Total Current Assets 245.39M 208.87M 208.87M 200.90M 191.97M 158.00M 152.60M
Property, Plant & Equipment 70.77M 68.41M 68.41M 58.64M 52.09M 55.86M 59.42M
Goodwill 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Long-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 70.77M 68.41M 68.41M 58.64M 52.09M 55.86M 59.42M
Total Assets 316.16M 277.28M 277.28M 259.55M 244.06M 213.86M 212.02M
Accounts Payable 69.42M 63.64M 63.64M 80.48M 77.79M 50.04M 54.70M
Short-Term Debt 152.78M 95.94M 95.94M 69.50M 58.09M 76.58M 80.93M
Tax Payables 0.00M 0.00M 0.00M 1.00M 0.95M 1.00M 0.00M
Deferred Revenue 0.00M 0.00M 0.00M 1.53M 1.33M 1.17M 1.02M
Other Current Liabilities 0.60M 6.71M 6.71M 3.37M 1.44M 3.94M 2.79M
Total Current Liabilities 222.80M 166.28M 166.28M 155.87M 139.60M 132.73M 139.44M
Long-Term Debt 0.00M 4.26M 4.26M 12.77M 21.29M 0.00M 0.00M
Capital Lease Obligations 2.28M 2.95M 2.95M 1.43M 1.43M 1.98M 2.53M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Liabilities 9.04M 9.13M 9.13M 8.52M 8.26M 7.41M 6.58M
Total Non-Current Liabilities 11.32M 16.33M 16.33M 22.72M 30.98M 9.39M 9.11M
Total Liabilities 234.12M 182.61M 182.61M 178.59M 170.58M 142.13M 148.55M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 60.00M 60.00M 60.00M 50.00M 50.00M 50.00M 0.05M
Retained Earnings 17.33M 21.33M 21.33M 24.93M 17.16M 16.02M 11.01M
Accumulated OCI 11.76M -0.63M 11.76M 5.72M 2.26M 1.65M -0.20M
Minority Interest 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Shareholders’ Equity 89.09M 80.70M 93.09M 80.64M 69.43M 67.67M 10.86M
Total Equity 89.09M 80.70M 93.09M 80.64M 69.43M 67.67M 10.86M
Total Liabilities & Equity 323.21M 263.31M 275.70M 259.24M 240.00M 209.80M 159.41M
Tangible Assets 316.16M 277.28M 277.28M 259.55M 244.06M 213.86M 212.02M
Tangible Equity 89.09M 80.70M 93.09M 80.64M 69.43M 67.67M 10.86M
Tangible Book Value 89.09M 80.70M 93.09M 80.64M 69.43M 67.67M 10.86M
Total Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Debt 150.48M 97.43M 97.43M 81.81M 75.68M 72.23M 78.31M

Capital Metrics

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Working Capital 29.0M 40.2M 40.2M 44.4M 48.5M 21.4M 10.7M
Total Capital 244.2M 196.2M 196.2M 164.6M 151.0M 147.1M 145.2M
Capital Employed 99.8M 108.6M 108.6M 103.0M 100.6M 77.3M 70.1M
Invested Capital 241.9M 193.5M 193.5M 164.1M 147.3M 142.7M 142.6M

Cash Flow Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Net Income 11.28M 21.15M 10.68M 4.81M 7.70M 21.62M 9.61M
Depreciation & Amortization 9.27M 9.75M 4.57M 4.54M 4.81M 5.28M 2.85M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital -13.51M -59.49M -20.31M -13.23M -8.52M -6.88M -9.74M
Accounts Receivable -0.19M -23.57M -13.20M -6.67M -14.65M 1.19M -35.52M
Inventory -27.44M -47.76M 14.35M -5.58M -19.80M -3.52M 3.52M
Accounts Payable 8.78M 19.88M -16.84M 2.69M 27.75M -4.65M 19.34M
Other Working Capital 10.54M -8.04M -4.61M -3.68M -1.81M 0.10M 2.91M
Other Non-Cash Items -15.42M 73.13M 1.64M 3.45M 0.48M 2.32M 1.14M
Net Cash from Operating Activities -8.38M -26.40M -3.42M -0.43M 4.47M 22.34M 3.86M
Capital Expenditures (PPE) -9.52M -4.75M -5.56M -4.77M -1.03M -1.72M -1.50M
Acquisitions (Net) 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.82M
Purchases of Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Sales / Maturities of Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities -0.95M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Cash from Investing Activities -10.47M -4.75M -5.56M -4.77M -1.03M -1.72M -0.68M
Net Debt Issuance -35.76M -0.48M 17.08M -9.14M 29.06M -0.75M -0.56M
Long-Term Debt Issuance -17.76M 85.78M -8.52M -9.14M 29.06M -0.75M -0.56M
Short-Term Debt Issuance -18.00M -86.27M 25.60M 11.41M 0.00M 0.00M 0.00M
Net Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Repurchased 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid -9.48M -10.03M -4.50M -0.30M -6.15M -13.79M 0.00M
Common Dividends Paid -9.48M -10.03M -4.50M -0.30M -6.15M -13.79M 0.00M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities 55.83M 49.45M -1.30M 11.41M -27.01M -4.35M -4.91M
Net Cash from Financing Activities 10.60M 38.93M 11.29M 1.96M -4.10M -18.88M -5.47M
Effect of FX on Cash 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Change in Cash -8.26M 7.79M 2.31M -3.24M -0.65M 1.73M -2.29M
Cash at Beginning of Period 16.84M 20.41M 0.46M 3.70M 4.36M 2.62M 4.91M
Cash at End of Period 8.58M 28.21M 2.76M 0.46M 3.70M 4.36M 2.62M
Operating Cash Flow 4.91M -26.40M -3.42M -0.43M 4.47M 22.34M 3.86M
Capital Expenditure -9.52M -4.75M -5.56M -4.77M -1.03M -1.72M -1.50M
Free Cash Flow -4.61M -31.14M -8.98M -5.20M 3.44M 20.62M 2.36M

Free Cash Flow

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
EBITDA 45.50M 46.90M 27.66M 21.62M 19.62M 31.00M 16.34M
(-) Tax Adjustment 8.33M 4.46M 3.59M 3.87M 1.60M 1.37M 0.00M
(-) Change In Working Capital -13.51M -59.49M -20.31M -13.23M -8.52M -6.88M -9.74M
(-) Capital Expenditure -9.52M -4.75M -5.56M -4.77M -1.03M -1.72M -1.50M
Unlevered Free Cash Flow 41.16M 97.18M 38.82M 26.22M 25.51M 34.79M 24.58M
(-) Net Interest Income After Taxes -18.40M -12.43M -9.10M -8.98M -6.59M -3.68M -4.47M
Net Debt Issuance -35.76M -0.48M 17.08M -9.14M 29.06M -0.75M -0.56M
Levered Free Cash Flow 23.80M 109.13M 65.00M 26.05M 61.16M 37.72M 28.49M