Income Statement PBA Holdings

Stocks

5041

MYL5041OO008

Water Utilities

Market Closed - BURSA MALAYSIA 04:59:48 2026-08-17 EDT			5-day change	1st Jan Change
2.300 ^MYR	+0.44%		+11.65%	+21.69%

08-04	Pba Holdings Bhd Announces Cessation of Yb Dato' Seri Haji Zulkifli Bin Long as Non-Independent and Non-Executive Director , Effective August 2, 2026	CI
07-13	PBA Holdings, Gamuda Extend Deadline for Penang Bulk Water Supply Agreement	MT

96c.Im5GzE3xah-9DCL7pwKR4aRlEKrr0n1EDcStqmagtKI.YD0DiyfAKy_WIW_LkFPdp_skZPKulTFpZ_D86wfvgJAQVwCgL9w5b8RKTQ

Published financial data: PBA HOLDINGS

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues - (Utility Template)	335M	348M	424M	528M	568M
Total Revenues	335M	348M	424M	528M	568M
Selling General & Admin Expenses, Total	84.21M	82.27M	87.03M	110M	120M
Other Operating Expenses	210M	224M	256M	260M	283M
Total Operating Expenses	294M	307M	343M	370M	403M
Operating Income (REIT / Utility Template)	41.1M	41.28M	80.55M	158M	166M
Interest Expense, Total	-13.02M	-14.1M	-13.88M	-13.61M	-13.36M
Interest and Investment Income	-	1.02M	1.57M	5.33M	5.03M
Net Interest Expenses	-13.02M	-13.08M	-12.32M	-8.28M	-8.33M
Income (Loss) on Equity Invest.	-	-	-	-	-
EBT, Excl. Unusual Items	28.08M	28.2M	68.23M	149M	157M
Gain (Loss) on Sale of Assets	31K	10.04M	-	-	-
Asset Writedown	-	-5.24M	176K	-	-
EBT, Incl. Unusual Items	28.11M	33M	68.41M	149M	157M
Income Tax Expense	-8.63M	-44.12M	34.06M	5.17M	42.81M
Earnings From Continuing Operations	36.74M	77.12M	34.35M	144M	115M
Net Income to Company	36.74M	77.12M	34.35M	144M	115M
Net Income - (IS)	36.74M	77.12M	34.35M	144M	115M
Net Income to Common Incl Extra Items	36.74M	77.12M	34.35M	144M	115M
Net Income to Common Excl. Extra Items	36.74M	77.12M	34.35M	144M	115M
Per Share Items
Net EPS - Basic	0.11	0.23	0.1	0.44	0.35
Basic EPS - Continuing Operations	0.11	0.23	0.1	0.44	0.35
Basic Weighted Average Shares Outstanding	331M	331M	331M	331M	331M
Net EPS - Diluted	0.11	0.23	0.1	0.44	0.35
Diluted EPS - Continuing Operations	0.11	0.23	0.1	0.44	0.35
Diluted Weighted Average Shares Outstanding	331M	331M	331M	331M	331M
Normalized Basic EPS	0.05	0.05	0.13	0.28	0.3
Normalized Diluted EPS	0.05	0.05	0.13	0.28	0.3
Dividend Per Share	0.02	0.03	0.04	0.04	0.05
Payout Ratio	20.27	9.66	28.92	8.04	13
Supplemental Items
Utility Revenues	304M	309M	377M	455M	483M
Non Utility Revenues	30.77M	38.63M	46.3M	72.22M	85.24M
EBITDA	104M	104M	143M	227M	243M
EBITA	41.1M	41.28M	80.55M	158M	166M
EBIT	41.1M	41.28M	80.55M	158M	166M
EBITDAR	104M	104M	143M	228M	244M
Effective Tax Rate - (Ratio)	-30.7	-133.7	49.79	3.46	27.21
Current Domestic Taxes	370K	883K	4.36M	11.37M	9.81M
Total Current Taxes	370K	883K	4.36M	11.37M	9.81M
Deferred Domestic Taxes	-9M	-46M	29.7M	-6.2M	33M
Total Deferred Taxes	-9M	-46M	29.7M	-6.2M	33M
Normalized Net Income	17.55M	17.63M	42.65M	93.34M	98.35M
Interest on Long-Term Debt	13.02M	12.87M	12.7M	12.49M	12.3M
Supplemental Operating Expense Items
General and Administrative Expenses	84.21M	82.27M	87.03M	110M	120M
Net Rental Expense, Total	227K	315K	369K	1.5M	1.01M
Imputed Operating Lease Interest Expense	94.44K	144K	169K	685K	283K
Imputed Operating Lease Depreciation	133K	171K	200K	811K	728K

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	141M	189M	238M	280M	547M
Short Term Investments - (Utility / Insurance Templates)	5.85M	7.34M	6.98M	12.52M	12.63M
Accounts Receivable, Total	54.02M	45.17M	54.57M	71.56M	73.05M
Other Receivables	7.51M	6.75M	7.85M	19.86M	23.15M
Accounts Receivable (Summary Subtotal)	61.53M	51.92M	62.42M	91.43M	96.2M
Inventory - (Utility Template)	8.89M	9.75M	8.84M	8.85M	15.92M
Prepaid Expenses	990K	1.26M	889K	1.48M	1.7M
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	219M	259M	317M	394M	674M
Gross Property Plant And Equipment	2.12B	2.11B	2.17B	2.26B	2.49B
Accumulated Depreciation	-841M	-891M	-898M	-965M	-1.04B
Net Property Plant And Equipment	1.28B	1.21B	1.27B	1.29B	1.45B
Long-Term Investments - (Utility Template)	-	-	-	-	-
Other Long-Term Assets, Total	-	-	68.23M	123M	127M
Total Assets	1.5B	1.47B	1.65B	1.81B	2.25B
Liabilities
Accounts Payable, Total	3.99M	4.72M	6.17M	7.12M	7.81M
Accrued Expenses, Total	-	22.03M	37.23M	62.78M	60.86M
Current Portion of Long-Term Debt	969K	1.02M	1.08M	1.14M	1.14M
Current Portion of Leases	3.58M	3.78M	4.41M	4.55M	4.76M
Current Income Taxes Payable	17K	24K	10K	4K	-
Unearned Revenue, Current	21.52M	24.54M	40.67M	31.5M	33.14M
Other Current Liabilities - (Bank / Utility Template)	175M	157M	189M	207M	227M
Total Current Liabilities	205M	213M	278M	314M	335M
Long-Term Debt	21.42M	20.4M	19.32M	18.18M	316M
Long-Term Leases	222M	219M	216M	212M	207M
Unearned Revenue Non Current	113M	10.18M	77.24M	74.05M	70.92M
Deferred Tax Liability Non-Current	145M	99M	129M	122M	156M
Other Non Current Liabilities, Total	53.58M	-	-	-	-
Total Liabilities	760M	562M	719M	740M	1.08B
Common Stock, Total	328M	328M	328M	328M	328M
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	413M	585M	608M	739M	839M
Treasury Stock	-236K	-237K	-238K	-240K	-242K
Comprehensive Income and Other	-	-	-	-	-
Total Common Equity	740M	912M	936M	1.07B	1.17B
Total Equity	740M	912M	936M	1.07B	1.17B
Total Liabilities And Equity	1.5B	1.47B	1.65B	1.81B	2.25B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	331M	331M	331M	331M	331M
ECS Total Common Shares Outstanding	331M	331M	331M	331M	331M
Book Value / Share	2.24	2.76	2.83	3.22	3.52
Tangible Book Value	740M	912M	936M	1.07B	1.17B
Tangible Book Value Per Share	2.24	2.76	2.83	3.22	3.52
Total Debt	248M	244M	240M	235M	529M
Net Debt	101M	47.99M	-4.51M	-56.78M	-30.41M
Debt Equivalent Oper. Leases	1.82M	2.52M	2.95M	11.97M	8.09M
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Others	8.89M	9.75M	8.84M	8.85M	15.92M
Land - (BS)	66.23M	38.95M	38.95M	42.2M	75.19M
Buildings, Total	88.93M	89.53M	90.09M	90.5M	90.67M
Machinery, Total	1.63B	1.67B	1.7B	1.8B	1.94B
Full Time Employees	1.42K	1.47K	1.49K	1.51K	1.54K
Accumulated Allowance for Doubtful Accounts (Supple)	8.39M	10.11M	9.89M	12.13M	15.73M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	36.74M	77.12M	34.35M	144M	115M
Depreciation, Depletion & Amortization	69.78M	67.89M	68M	74.52M	82.8M
Total Depreciation, Depletion & Amortization	69.78M	67.89M	68M	74.52M	82.8M
Amortization of Deferred Charges, Total	-	-	-	-	19K
(Gain) Loss On Sale of Asset - (CF)	-31K	-10.04M	-127K	-268K	-57K
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Total Asset Writedown	322K	96K	351K	2.45M	407K
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Provision and Write-off of Bad Debts	157K	-	-	-	-
Change in Accounts Receivable	681K	7.16M	-9.42M	-23.83M	-2.52M
Change In Inventories	-145K	-859K	908K	-10K	-7.07M
Change in Accounts Payable	-10.17M	5.15M	47.54M	37.66M	26.21M
Change in Unearned Revenues	-9.54M	5.29M	16.13M	-9.16M	1.64M
Other Operating Activities	-1.59M	-48.86M	21.17M	-27.59M	-13.62M
Cash from Operations	86.21M	103M	179M	198M	202M
Capital Expenditure	-28.35M	-41.3M	-106M	-131M	-212M
Sale of Property, Plant, and Equipment	32K	10.04M	127K	268K	57K
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	1.77M	2.47M	4.89M	5.72M	2.29M
Cash from Investing	-26.55M	-28.78M	-101M	-125M	-210M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-18.79M	-18.97M	-19M	-19.09M	-6.9M
Total Debt Repaid	-18.79M	-18.97M	-19M	-19.09M	-6.9M
Repurchase of Common Stock	-	-1K	-1K	-2K	-2K
Common Dividends Paid	-7.45M	-7.45M	-9.93M	-11.58M	-14.89M
Common & Preferred Stock Dividends Paid	-7.45M	-7.45M	-9.93M	-11.58M	-14.89M
Other Financing Activities, Total	-	-	-	-	297M
Cash from Financing	-26.24M	-26.42M	-28.93M	-30.67M	275M
Net Change in Cash	33.43M	47.74M	48.86M	41.84M	267M
Supplemental Items
Cash Interest Paid	-	-	-	-	12.3M
Cash Income Tax Paid (Refund)	369K	1.18M	4.73M	12.68M	12.41M
Net Debt Issued / Repaid	-18.79M	-18.97M	-19M	-19.09M	-6.9M
Levered Free Cash Flow	39.74M	63.34M	58.81M	39.2M	-25.76M
Unlevered Free Cash Flow	47.87M	72.15M	67.49M	47.71M	-17.43M
Change In Net Working Capital	19.24M	-19.76M	-55.25M	-6.1M	-8.68M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.71	1.77	3.22	5.69	5.1
Return on Total Capital	2.63	2.3	4.32	7.95	6.91
Return On Equity %	5.07	8.79	3.72	14.4	10.26
Return on Common Equity	5.07	8.79	3.72	14.4	10.26
Margin Analysis
Gross Profit Margin %	33.25	31.68	35.79	47.19	46.52
SG&A Margin	25.15	23.64	20.54	20.78	21.13
EBITDA Margin %	31.11	29.82	33.78	42.98	42.77
EBITA Margin %	12.27	11.86	19.02	29.87	29.15
EBIT Margin %	12.27	11.86	19.02	29.87	29.15
Income From Continuing Operations Margin %	10.97	22.16	8.11	27.32	20.15
Net Income Margin %	10.97	22.16	8.11	27.32	20.15
Net Avail. For Common Margin %	10.97	22.16	8.11	27.32	20.15
Normalized Net Income Margin	5.24	5.07	10.07	17.69	17.3
Levered Free Cash Flow Margin	11.87	18.2	13.88	7.43	-4.53
Unlevered Free Cash Flow Margin	14.3	20.73	15.93	9.04	-3.07
Asset Turnover
Asset Turnover	0.22	0.24	0.27	0.3	0.28
Fixed Assets Turnover	0.26	0.29	0.34	0.42	0.41
Receivables Turnover (Average Receivables)	6.14	7.02	8.49	8.37	7.86
Inventory Turnover (Average Inventory)	25.06	25.5	29.26	31.49	24.54
Short Term Liquidity
Current Ratio	1.06	1.22	1.14	1.25	2.01
Quick Ratio	1.02	1.17	1.1	1.22	1.96
Operating Cash Flow to Current Liabilities	0.42	0.48	0.64	0.63	0.6
Days Sales Outstanding (Average Receivables)	59.47	52.02	42.97	43.75	46.43
Days Outstanding Inventory (Average Inventory)	14.57	14.31	12.47	11.62	14.87
Average Days Payable Outstanding	7.97	6.67	7.33	8.73	8.76
Cash Conversion Cycle (Average Days)	66.07	59.66	48.11	46.64	52.54
Long Term Solvency
Total Debt/Equity	33.54	26.78	25.68	22.07	45.38
Total Debt / Total Capital	25.12	21.13	20.43	18.08	31.22
LT Debt/Equity	32.92	26.26	25.09	21.54	44.88
Long-Term Debt / Total Capital	24.66	20.71	19.97	17.64	30.87
Total Liabilities / Total Assets	50.67	38.11	43.44	40.97	48.19
EBIT / Interest Expense	3.16	2.93	5.8	11.58	12.4
EBITDA / Interest Expense	8.52	7.74	10.7	17.06	18.6
(EBITDA - Capex) / Interest Expense	6.34	4.81	3.06	7.4	2.7
Total Debt / EBITDA	2.24	2.24	1.62	1.01	2.13
Net Debt / EBITDA	0.91	0.44	-0.03	-0.24	-0.12
Total Debt / (EBITDA - Capex)	3.01	3.6	5.66	2.34	14.69
Net Debt / (EBITDA - Capex)	1.22	0.71	-0.11	-0.56	-0.84
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-0.44	1.72	21.73	24.55	7.74
Gross Profit, 1 Yr. Growth %	2.13	-7.04	37.49	64.26	6.21
EBITDA, 1 Yr. Growth %	-3.05	-7.43	25.76	58.26	7.21
EBITA, 1 Yr. Growth %	-7.92	-16.28	56.95	95.25	5.12
EBIT, 1 Yr. Growth %	-7.92	-16.28	56.95	95.25	5.12
Earnings From Cont. Operations, 1 Yr. Growth %	48.4	75.14	-55.46	319.72	-20.54
Net Income, 1 Yr. Growth %	48.4	75.14	-55.46	319.72	-20.54
Diluted EPS Before Extra, 1 Yr. Growth %	48.4	75.15	-55.46	319.73	-20.54
Normalized Net Income, 1 Yr. Growth %	-10.67	-20.62	78.42	118.3	5.37
Net Property, Plant and Equip., 1 Yr. Growth %	-2.41	-0.96	4.52	3.78	12.43
Inventory, 1 Yr. Growth %	-0.63	9.66	-9.31	0.11	79.86
Accounts Receivable, 1 Yr. Growth %	-1.94	-16.39	20.82	31.14	2.08
Total Assets, 1 Yr. Growth %	0.05	2.01	12.27	9.21	24.58
Tangible Book Value, 1 Yr. Growth %	4.12	8.16	2.59	13.99	9.34
Cash From Operations, 1 Yr. Growth %	-23.44	19.41	73.78	26.1	2.19
Capital Expenditures, 1 Yr. Growth %	-70.87	45.65	156.93	56.11	61.66
Levered Free Cash Flow, 1 Yr. Growth %	-258.43	64.09	-15.52	-51.5	-165.71
Unlevered Free Cash Flow, 1 Yr. Growth %	-384.35	51.77	-13.95	-46.7	-136.53
Dividend Per Share, 1 Yr. Growth %	0	33.33	16.67	28.57	11.11
Common Equity, 1 Yr. Growth %	4.12	8.16	2.59	13.99	9.34
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-0.79	1.72	11.28	23.13	15.84
Gross Profit, 2 Yr. CAGR %	2.11	0.58	13.05	50.28	32.08
EBITDA, 2 Yr. CAGR %	-0.17	-1.73	13	41.16	30.26
EBITA, 2 Yr. CAGR %	-0.32	-3.82	27.81	75.24	43.26
EBIT, 2 Yr. CAGR %	-0.32	-3.82	27.81	75.24	43.26
Earnings From Cont. Operations, 2 Yr. CAGR %	20.86	76.49	-11.68	36.73	82.62
Net Income, 2 Yr. CAGR %	20.86	76.49	-11.68	36.73	82.62
Diluted EPS Before Extra, 2 Yr. CAGR %	20.86	76.49	-11.68	36.73	82.62
Normalized Net Income, 2 Yr. CAGR %	0.11	-5.28	38.59	97.61	51.67
Net Property, Plant and Equip., 2 Yr. CAGR %	0.31	-3.83	1.74	3.06	8.02
Inventory, 2 Yr. CAGR %	-0.44	4.39	-0.28	-4.72	34.19
Accounts Receivable, 2 Yr. CAGR %	33.62	-9.45	0.51	25.87	15.7
Total Assets, 2 Yr. CAGR %	0.56	-0.85	7.02	10.73	16.64
Common Equity, 2 Yr. CAGR %	4.44	13.29	5.34	8.14	11.64
Tangible Book Value, 2 Yr. CAGR %	4.44	13.29	5.34	8.14	11.64
Cash From Operations, 2 Yr. CAGR %	-21.02	-4.39	44.05	38.67	13.54
Capital Expenditures, 2 Yr. CAGR %	-46.3	-34.86	93.45	78.39	58.86
Levered Free Cash Flow, 2 Yr. CAGR %	22.52	58.91	23.43	-24.96	-43.55
Unlevered Free Cash Flow, 2 Yr. CAGR %	17.27	107.02	19.15	-22	-55.87
Dividend Per Share, 2 Yr. CAGR %	-19.82	15.47	24.72	22.47	19.52
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	0.01	0.76	8	15.54	17.77
Gross Profit, 3 Yr. CAGR %	5.04	1.08	11.62	28.04	33.86
EBITDA, 3 Yr. CAGR %	2.83	-0.24	10.03	26.48	28.79
EBITA, 3 Yr. CAGR %	4.56	-0.07	21.75	47.31	47.8
EBIT, 3 Yr. CAGR %	4.56	-0.07	21.75	47.31	47.8
Earnings From Cont. Operations, 3 Yr. CAGR %	-29.18	45.27	11.53	48.49	14.1
Net Income, 3 Yr. CAGR %	-29.18	45.27	11.53	48.49	14.1
Diluted EPS Before Extra, 3 Yr. CAGR %	-29.18	45.27	11.53	48.49	14.1
Normalized Net Income, 3 Yr. CAGR %	-7.91	0.22	29.48	61.39	60.24
Net Property, Plant and Equip., 3 Yr. CAGR %	7.81	-1.57	-1.12	1.71	6.1
Inventory, 3 Yr. CAGR %	-8.11	2.82	-0.39	-0.15	17.76
Accounts Receivable, 3 Yr. CAGR %	24.84	14.29	-0.31	9.83	17.38
Total Assets, 3 Yr. CAGR %	5.87	-0.21	3.34	7.74	15.17
Common Equity, 3 Yr. CAGR %	2.07	10.37	9.61	8.15	8.54
Tangible Book Value, 3 Yr. CAGR %	2.07	10.37	9.61	8.15	8.54
Cash From Operations, 3 Yr. CAGR %	2.27	-9.35	16.68	31.92	25.27
Capital Expenditures, 3 Yr. CAGR %	-18.86	-25.11	2.92	66.73	72.63
Levered Free Cash Flow, 3 Yr. CAGR %	1.39	33.75	32.85	0.52	-28.21
Unlevered Free Cash Flow, 3 Yr. CAGR %	7.88	27.5	58.85	0.12	-39.43
Dividend Per Share, 3 Yr. CAGR %	-13.69	-5.01	15.87	25.99	18.56
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.49	2.18	4.82	9.17	11.07
Gross Profit, 5 Yr. CAGR %	2.09	4.95	9.56	18.46	19.4
EBITDA, 5 Yr. CAGR %	0.34	1.33	8.36	16.75	17.74
EBITA, 5 Yr. CAGR %	-3.38	0.2	17.51	30.68	30
EBIT, 5 Yr. CAGR %	-3.38	0.2	17.51	30.68	30
Earnings From Cont. Operations, 5 Yr. CAGR %	-9.87	15.65	-19.79	41.79	35.85
Net Income, 5 Yr. CAGR %	-9.87	15.65	-19.79	41.79	35.85
Diluted EPS Before Extra, 5 Yr. CAGR %	-9.87	15.65	-19.79	41.79	35.85
Normalized Net Income, 5 Yr. CAGR %	-12.47	-7.14	13.67	39.75	38.01
Net Property, Plant and Equip., 5 Yr. CAGR %	5.7	3.65	4.42	0.26	2.01
Inventory, 5 Yr. CAGR %	0.28	5.61	-5.05	-0.26	12.22
Accounts Receivable, 5 Yr. CAGR %	13.27	8.64	14.47	18.79	5.81
Total Assets, 5 Yr. CAGR %	5.84	3.88	5.53	4.03	8.47
Common Equity, 5 Yr. CAGR %	-1.55	2.04	6.1	9.47	10.42
Tangible Book Value, 5 Yr. CAGR %	-1.55	2.04	6.1	9.47	10.42
Cash From Operations, 5 Yr. CAGR %	-4.98	-0.79	17.29	7.45	12.44
Capital Expenditures, 5 Yr. CAGR %	-21.08	-12.81	14.86	5.98	16.9
Levered Free Cash Flow, 5 Yr. CAGR %	19.43	30.32	9.05	8.17	0.54
Unlevered Free Cash Flow, 5 Yr. CAGR %	23.97	33.76	12.1	6.51	0.7
Dividend Per Share, 5 Yr. CAGR %	-10.87	-5.59	0	5.15	17.32