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Definitive Analysis

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Page: Company Financials

LH Shopping Centers Leasehold Real Estate Investment Trust

Ticker: LHSC.BK | Industry: REIT - Diversified | Sector: Real Estate
$12.70 0.00 (0.00%)
As of: 2026-01-27

Master Data Export


Enterprise Value

Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Stock Price 11.93 10.58 10.64 10.65 10.93 12.23 18.28 15.53 14.10 13.85 10.48
Market Capitalization 9,284.91M 5,989.37M 5,191.79M 5,197.89M 5,332.11M 5,966.59M 8,919.38M 7,576.88M 6,881.71M 6,759.70M 5,112.48M
(-) Cash & Equivalents 625.42M 324.10M 122.74M 137.07M 118.93M 121.72M 121.32M 116.61M 103.64M 108.95M 104.60M
(+) Total Debt 3,210.06M 1,340.11M 779.86M 846.76M 835.26M 854.23M 900.00M 972.85M 1,080.00M 1,080.00M 1,080.00M
Enterprise Value 11,869.54M 7,005.38M 5,848.91M 5,907.58M 6,048.44M 6,699.10M 9,698.06M 8,433.11M 7,858.07M 7,730.74M 6,087.88M

Income Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31
Revenue 2,512M 1,395M 1,565M 1,262M 809M 383M 662M 1,319M 1,303M 1,226M 1,171M 1,124M
Cost of Revenue 962M 576M 620M 547M 410M 248M 330M 541M 563M 538M 519M 485M
Gross Profit 1,550M 819M 945M 714M 399M 135M 332M 778M 739M 688M 651M 639M
Gross Profit Margin 61.7% 58.7% 60.4% 56.6% 49.3% 35.3% 50.1% 59.0% 56.7% 56.1% 55.6% 56.9%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 319M 169M 205M 159M 127M 81M 107M 176M 181M 168M 147M 185M
Operating Expenses 319M 342M 205M 159M 127M 81M 107M 176M 181M 168M 147M 187M
Operating Income (EBIT) 1,230M 477M 740M 555M 272M 54M 225M 602M 559M 520M 505M 453M
Operating Income Margin 49.0% 34.2% 47.3% 44.0% 33.6% 14.1% 34.0% 45.6% 42.9% 42.4% 43.1% 40.3%
Interest Income 4M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Interest Expense 117M 33M 41M 34M 24M 23M 24M 29M 41M 46M 46M 46M
Net Interest Income -113M -33M -41M -34M -24M -23M -24M -29M -41M -46M -46M -46M
Unusual Items 201M 304M 91M 33M 41M -33M -52M 29M 31M 53M 54M 393M
EBT Excluding Unusual Items 1,117M 444M 699M 522M 248M 31M 201M 572M 518M 474M 459M 407M
Pre-Tax Income 1,319M 747M 789M 554M 289M -3M 149M 601M 549M 527M 513M 799M
Pre-Tax Margin 52.5% 53.6% 50.4% 43.9% 35.7% -0.7% 22.4% 45.6% 42.1% 42.9% 43.8% 71.1%
Income Tax Expense 0M 322M 0M 0M 0M 27M 30M 0M 6M 38M 38M 385M
Net Income 1,319M 747M 789M 554M 289M -29M 118M 601M 549M 527M 513M 799M
Net Income Margin 52.5% 53.6% 50.4% 43.9% 35.7% -7.7% 17.9% 45.6% 42.1% 42.9% 43.8% 71.1%
Depreciation & Amortization 0M -327M 0M -522M 536M 329M 496M 719M 755M 752M 660M -339M
EBITDA 1,230M 149M 740M 33M 809M 383M 721M 1,321M 1,314M 1,272M 1,164M 113M
EBITDA Margin 49.0% 10.7% 47.3% 2.6% 99.9% 100.0% 108.8% 100.2% 100.9% 103.7% 99.5% 10.1%
NOPAT 1,230M 271M 740M 555M 272M 43M 179M 602M 553M 483M 467M 234M
NOPAT Margin 49.0% 19.4% 47.3% 44.0% 33.6% 11.1% 27.0% 45.6% 42.4% 39.4% 39.9% 20.9%
Owner's Earnings 1,319M 420M 789M 32M 825M 300M 614M 1,320M 1,304M 1,279M 1,172M 460M
Owner's Earnings Margin 52.5% 30.1% 50.4% 2.5% 102.0% 78.2% 92.7% 100.1% 100.1% 104.3% 100.1% 40.9%
EPS (Basic) 1.69 1.53 1.01 1.14 0.59 -0.06 0.24 1.23 1.12 1.08 1.05 1.64
EPS (Diluted) 1.69 1.53 1.01 1.14 0.59 -0.06 0.24 1.23 1.12 1.08 1.05 1.64
Shares (Basic) 778M 489M 778M 488M 488M 488M 488M 488M 488M 488M 488M 488M
Shares (Diluted) 778M 488M 778M 488M 488M 488M 488M 488M 488M 488M 488M 488M

Balance Sheet

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31
Cash & Cash Equivalents 365.93M 567.11M 928.16M 128.07M 160.94M 145.39M 160.36M 97.40M 92.38M 89.29M 100.00M 113.03M 120.23M
Short-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 288.00M 0.00M 451.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 365.93M 567.11M 928.16M 128.07M 160.94M 145.39M 448.36M 97.40M 543.38M 89.29M 100.00M 113.03M 120.23M
Net Receivables 102.64M 110.84M 129.96M 60.12M 93.50M 115.97M 99.39M 0.00M 59.30M 58.53M 54.17M 52.00M 163.00M
Inventory 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 5.57M 63.09M
Other Current Assets 0.00M 0.00M 0.00M 0.41M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Current Assets 468.57M 677.95M 1,058.12M 188.60M 254.44M 261.36M 547.75M 97.40M 602.68M 147.82M 154.17M 170.60M 346.33M
Property, Plant & Equipment 0.00M 0.00M 0.00M 6,476.32M 6,451.11M 6,413.41M 6,446.96M 6,484.24M 6,457.26M 6,427.59M 6,377.08M 6,324.63M 0.00M
Goodwill 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Long-Term Investments 783.53M 564.86M 0.00M 477.57M 319.07M 223.76M 287.83M 562.92M 381.21M 518.24M 453.64M 491.67M 389.09M
Tax Assets 0.00M 0.00M 0.00M 0.00M 7,031.61M 6,904.93M 7,001.92M 7,198.84M 7,081.58M 7,129.04M 7,034.52M 0.00M 0.00M
Other Non-Current Assets 12,572.46M 12,403.33M 12,321.09M 6.35M 6.63M 5.66M -281.60M 7.64M 6,477.48M 6,456.73M 6,421.53M 42.33M 5,941.62M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -0.17M 0.00M 0.21M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 13,355.99M 12,968.19M 12,321.09M 6,960.23M 13,808.42M 13,547.77M 13,454.94M 14,253.64M 20,397.75M 20,531.60M 20,286.78M 6,858.62M 6,330.72M
Total Assets 13,824.56M 13,646.13M 13,379.21M 7,148.83M 14,062.86M 13,809.13M 14,002.69M 14,351.05M 21,000.43M 20,679.43M 20,440.95M 7,029.22M 6,677.05M
Accounts Payable 50.70M 77.86M 73.44M 37.92M 35.79M 23.92M 26.40M 42.93M 50.57M 42.32M 33.98M 47.32M 6.25M
Short-Term Debt 75.00M 75.00M 0.00M 0.00M 50.00M 0.00M 0.00M 30.00M 0.00M 32.00M 0.00M 0.00M 0.00M
Tax Payables 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Revenue 627.31M 626.50M 598.40M 0.00M 268.55M 272.84M 280.60M 316.65M 296.81M 285.58M 261.52M 246.52M 217.86M
Other Current Liabilities 0.00M -75.00M 0.00M 50.00M -277.19M -278.86M -285.29M -316.65M -304.67M -290.64M -277.06M 14.89M 0.00M
Total Current Liabilities 753.01M 704.36M 671.84M 87.92M 77.15M 17.90M 21.72M 72.93M 42.71M 69.27M 18.43M 308.73M 224.11M
Long-Term Debt 3,118.28M 3,193.01M 2,572.45M 685.64M 783.99M 832.24M 836.11M 870.00M 900.00M 1,048.00M 1,080.00M 1,080.00M 1,080.00M
Capital Lease Obligations 0.30M 0.38M 677.93M 0.90M 1.23M 1.55M 1.86M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 0.00M -268.55M -272.84M -1.40M -316.65M -296.81M -285.58M -261.52M -18.89M -304.58M
Other Non-Current Liabilities 22.05M 12.61M 26.08M 342.37M 287.14M 283.03M 293.07M 334.00M 315.96M 301.65M 289.82M 18.89M 0.00M
Total Non-Current Liabilities 3,140.63M 3,206.01M 3,276.45M 1,028.90M 803.81M 843.98M 1,129.64M 887.35M 919.16M 1,064.07M 1,108.30M 1,080.00M 775.42M
Total Liabilities 3,893.64M 3,910.36M 3,948.30M 1,116.83M 880.96M 861.88M 1,151.36M 960.28M 961.86M 1,133.34M 1,126.73M 1,388.73M 999.53M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 853.58M 0.00M 793.94M 684.63M 606.57M 0.00M 0.00M
Common Stock 8,080.92M 8,080.92M 8,080.92M 4,978.26M 4,978.26M 4,978.26M 4,978.26M 4,978.26M 4,978.26M 4,978.26M 4,978.26M 4,978.26M 4,978.26M
Retained Earnings 1,808.75M 1,490.34M 1,258.02M 1,025.83M 881.58M 777.82M 853.58M 927.03M 793.94M 684.63M 606.57M 615.26M 11.96M
Accumulated OCI 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 5,831.84M 0.00M 5,772.20M 5,662.89M 5,584.83M 0.00M 0.00M
Minority Interest 0.00M 0.00M 0.00M 0.00M 674.28M 688.40M 677.60M 802.60M 807.62M 990.71M 980.00M 0.00M 0.00M
Total Shareholders’ Equity 9,889.67M 9,571.25M 9,338.94M 6,004.09M 5,859.84M 5,756.08M 12,517.27M 5,905.29M 12,338.35M 12,010.40M 11,776.22M 5,593.52M 4,990.22M
Total Equity 9,889.67M 9,571.25M 9,338.94M 6,004.09M 6,534.12M 6,444.47M 13,194.87M 6,707.89M 13,145.97M 13,001.11M 12,756.22M 5,593.52M 4,990.22M
Total Liabilities & Equity 13,783.31M 13,481.62M 13,287.23M 7,120.91M 7,415.08M 7,306.35M 14,346.23M 7,668.17M 14,107.83M 14,134.45M 13,882.96M 6,982.25M 5,989.76M
Tangible Assets 13,824.56M 13,646.13M 13,379.21M 7,148.83M 14,062.86M 13,809.13M 14,002.69M 14,351.05M 21,000.43M 20,679.43M 20,440.95M 7,029.22M 6,677.05M
Tangible Equity 9,889.67M 9,571.25M 9,338.94M 6,004.09M 6,534.12M 6,444.47M 13,194.87M 6,707.89M 13,145.97M 13,001.11M 12,756.22M 5,593.52M 4,990.22M
Tangible Book Value 9,889.67M 9,571.25M 9,338.94M 6,004.09M 6,534.12M 6,444.47M 13,194.87M 6,707.89M 13,145.97M 13,001.11M 12,756.22M 5,593.52M 4,990.22M
Total Investments 783.53M 564.86M 0.00M 477.57M 319.07M 223.76M 575.83M 562.92M 832.21M 518.24M 453.64M 491.67M 389.09M
Net Debt 2,827.35M 2,700.91M 1,644.29M 557.57M 673.05M 686.85M 675.75M 802.60M 807.62M 990.71M 980.00M 966.97M 959.77M

Capital Metrics

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31
Working Capital -325.7M -190.9M 294.3M 72.8M -71.8M -48.8M 224.6M -537.9M 205.8M -253.1M -197.6M -181.1M -256.5M
Total Capital 13,083.2M 12,764.7M 12,589.3M 6,740.6M 6,695.1M 6,589.9M 6,669.8M 6,805.3M 6,672.2M 6,742.9M 6,664.8M 6,673.5M 6,070.2M
Capital Employed 13,030.3M 12,777.3M 12,615.4M 7,033.0M 6,705.0M 6,594.0M 6,677.6M 6,516.9M 6,683.5M 6,721.9M 6,677.6M 6,677.5M 6,074.3M
Invested Capital 12,717.3M 12,197.5M 11,661.2M 6,612.5M 6,534.1M 6,444.5M 6,509.4M 6,707.9M 6,579.8M 6,653.6M 6,564.8M 6,560.5M 5,950.0M

Cash Flow Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31
Net Income 1,318.81M 747.05M 789.14M 554.22M 289.23M -2.56M 148.62M 601.14M 548.57M 526.59M 512.56M 799.50M
Depreciation & Amortization 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 10.19M 10.48M 10.48M 10.51M 10.73M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 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 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital 285.19M 26.86M 287.03M 101.13M 43.36M -32.64M -113.78M 1.16M 25.44M 15.73M -0.42M -134.77M
Accounts Receivable -47.32M 9.68M -69.84M 33.38M 11.09M -14.87M -44.07M 12.38M -2.44M -3.36M -2.50M -41.52M
Inventory 0.00M 0.00M 0.00M 0.00M 0.00M -7.53M -14.67M -26.17M 9.69M -16.41M 2.95M -137.85M
Accounts Payable 15.35M 2.37M 35.52M 2.14M 11.87M -2.48M -16.53M -7.64M 8.24M 8.35M -13.35M 41.08M
Other Working Capital 317.15M 14.80M 321.34M 65.62M 20.40M -7.76M -38.51M 22.59M 9.95M 27.16M 12.48M 3.52M
Other Non-Cash Items -1,588.02M -89.57M -4,622.43M -150.15M -109.16M 120.95M 338.69M -109.44M 88.83M -58.72M 42.10M -428.94M
Net Cash from Operating Activities 15.98M 668.89M -3,546.27M 505.20M 223.43M 85.76M 373.53M 503.04M 662.84M 483.60M 554.24M 235.78M
Capital Expenditures (PPE) 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Acquisitions (Net) 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments -9,276.97M -422.00M -6,379.59M -819.92M -890.75M -1,225.69M -1,684.18M 0.00M 0.00M 0.00M 0.00M 0.00M
Sales / Maturities of Investments 3,277.21M 400.00M 1,803.97M 0.00M 796.97M 1,290.81M 1,963.39M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities 1,494.14M 0.00M 4,575.63M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Cash from Investing Activities -4,505.63M -22.00M 0.00M 0.00M -93.78M 65.12M 279.21M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Debt Issuance 2,505.64M -100.36M 1,835.64M -100.36M -0.36M -0.36M -60.15M 0.00M -180.00M 0.00M 0.00M 0.00M
Long-Term Debt Issuance 619.64M -100.36M 1,835.64M -100.36M -0.36M -0.36M -60.15M 0.00M -180.00M 0.00M 0.00M 0.00M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance 3,102.66M 0.00M 3,132.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Issuance 3,102.66M 0.00M 3,132.00M 0.00M 0.00M 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 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 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid -779.34M -515.89M -556.94M -409.97M -185.46M -73.21M -222.07M -468.05M -439.26M -448.53M -521.25M -196.20M
Common Dividends Paid -779.34M -515.89M -556.94M -409.97M -185.46M -73.21M -222.07M -468.05M -439.26M -448.53M -521.25M -196.20M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities -115.77M -32.06M -64.35M -27.73M -22.05M -27.16M -28.35M -29.97M -40.49M -45.78M -46.03M -46.78M
Net Cash from Financing Activities 4,713.19M -632.00M 4,346.35M -538.07M -207.88M -100.72M -310.57M -498.03M -659.75M -494.31M -567.28M -242.98M
Effect of FX on Cash 0.00M 0.00M 0.00M 0.00M 93.78M -65.12M -279.21M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Change in Cash 230.89M 14.89M 800.08M -32.87M 15.55M -14.97M 62.96M 5.02M 3.09M -10.71M -13.03M -7.20M
Cash at Beginning of Period 2,573.54M 481.42M 128.07M 160.94M 145.39M 160.36M 97.40M 92.38M 89.29M 100.00M 113.03M 120.23M
Cash at End of Period 2,804.43M 496.30M 928.16M 128.07M 160.94M 145.39M 160.36M 97.40M 92.38M 89.29M 100.00M 113.03M
Operating Cash Flow -4,482.30M 683.86M -3,546.27M 505.20M 223.43M 85.76M 373.53M 503.04M 662.84M 483.60M 554.24M 235.78M
Capital Expenditure 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Free Cash Flow -4,482.30M 683.86M -3,546.27M 505.20M 223.43M 85.76M 373.53M 503.04M 662.84M 483.60M 554.24M 235.78M

Free Cash Flow

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31
EBITDA 1,230.38M 322.23M 739.90M 32.70M 808.51M 383.27M 720.84M 1,320.81M 1,313.88M 1,272.00M 1,164.27M 114.82M
(-) Tax Adjustment 0.00M 112.78M 0.00M 0.00M 0.00M 0.00M 147.45M 0.00M 13.55M 90.70M 86.49M 40.19M
(-) Change In Working Capital 285.19M 26.86M 287.03M 101.13M 43.36M -32.64M -113.78M 1.16M 25.44M 15.73M -0.42M -134.77M
(-) Capital Expenditure 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Unlevered Free Cash Flow 945.19M 182.59M 452.87M -68.43M 765.15M 415.91M 687.17M 1,319.65M 1,274.89M 1,165.57M 1,078.20M 209.40M
(-) Net Interest Income After Taxes -113.01M -21.43M -41.32M -33.53M -23.81M -23.29M -19.33M -29.25M -40.57M -42.63M -42.61M -29.84M
Net Debt Issuance 2,505.64M -100.36M 1,835.64M -100.36M -0.36M -0.36M -60.15M 0.00M -180.00M 0.00M 0.00M 0.00M
Levered Free Cash Flow 3,563.84M 103.66M 2,329.84M -135.26M 788.60M 438.84M 646.35M 1,348.90M 1,135.46M 1,208.20M 1,120.81M 239.24M