WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED

Income Statement Willas-Array Electronics (Holdings) Limited

Stocks

BDR

BMG9643L1349

Electronic Equipment & Parts

Market Closed - Singapore S.E. Other stock markets 04:52:39 2026-06-05 EDT			5-day change	1st Jan Change
1.080 ^SGD	-.--%		-.--%	+30.12%

03-11	Willas-Array Electronics (Hong Kong) Limited Announces Continuing Connected Warehousing and Logistics Service Agreements	CI
02-27	Willas-Array Electronics appoints Wen Yuping as CFO	RE

57ddd0e4047408efa83889ce91.mZflyEJIEaZo-Hst2DNQsPmEed1uGxr-Mu9J5U3mG40.w_axrSA4PPZawUsavEQK-83iEp8rTl6WZIpxkgucIu7N0aGENHlIn1jOPg

Published financial data: WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	3.56B	3.43B	3.14B	2.44B	2.36B
Total Revenues	3.56B	3.43B	3.14B	2.44B	2.36B
Cost of Goods Sold, Total	3.22B	3.09B	2.86B	2.35B	2.14B
Gross Profit	334M	335M	279M	91.11M	219M
Selling General & Admin Expenses, Total	224M	218M	212M	161M	157M
Provision for Bad Debts	9.11M	-4.61M	-881K	-10.42M	-6.01M
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	233M	213M	211M	150M	151M
Operating Income	100M	121M	67.48M	-59.3M	67.34M
Interest Expense, Total	-19.05M	-17.29M	-43.75M	-35.9M	-27.89M
Interest And Investment Income	501K	487K	3.48M	552K	322K
Net Interest Expenses	-18.54M	-16.8M	-40.28M	-35.35M	-27.56M
Income (Loss) On Equity Invest.	-	-	-	-	-
Currency Exchange Gains (Loss)	15.55M	1.28M	-32.38M	78.67K	-2.68M
Other Non Operating Income (Expenses)	3.14M	1.84M	5.49M	1.65M	6.69M
EBT, Excl. Unusual Items	100M	108M	310K	-92.92M	43.78M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-1.37M	6K	206K	88K	-
Asset Writedown	1.31M	439K	995K	-251K	-1.69M
Other Unusual Items	6.14M	-153K	2.83M	1.75M	692K
EBT, Incl. Unusual Items	106M	108M	4.34M	-91.33M	42.78M
Income Tax Expense	13.85M	25.88M	1.64M	-9.19M	-8.17M
Earnings From Continuing Operations	92.48M	82.19M	2.7M	-82.14M	50.96M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	92.48M	82.19M	2.7M	-82.14M	50.96M
Minority Interest	-	-	14K	1.33K	-
Net Income - (IS)	92.48M	82.19M	2.72M	-82.13M	50.96M
Net Income to Common Incl Extra Items	92.48M	82.19M	2.72M	-82.13M	50.96M
Net Income to Common Excl. Extra Items	92.48M	82.19M	2.72M	-82.13M	50.96M
Per Share Items
Net EPS - Basic	1.09	0.96	0.03	-0.94	0.54
Basic EPS - Continuing Operations	1.09	0.96	0.03	-0.94	0.54
Basic Weighted Average Shares Outstanding	85.21M	85.33M	87.2M	87.69M	94.75M
Net EPS - Diluted	1.09	0.95	0.03	-0.94	0.54
Diluted EPS - Continuing Operations	1.09	0.95	0.03	-0.94	0.54
Diluted Weighted Average Shares Outstanding	85.21M	86.5M	87.63M	87.69M	94.78M
Normalized Basic EPS	0.74	0.79	0	-0.66	0.29
Normalized Diluted EPS	0.74	0.78	0	-0.66	0.29
Dividend Per Share	0.33	0.33	-	-	-
Payout Ratio	-	34.21	1.06K	-	-
Supplemental Items
EBITDA	114M	136M	82.45M	-45.83M	78.69M
EBITA	100M	121M	67.48M	-59.3M	67.34M
EBIT	100M	121M	67.48M	-59.3M	67.34M
EBITDAR	116M	140M	85.26M	-32M	81.54M
Effective Tax Rate - (Ratio)	13.02	23.95	37.78	10.06	-19.11
Current Domestic Taxes	13.29M	21.45M	8.08M	669K	513K
Current Foreign Taxes	1.24M	1.46M	662K	1.67M	572K
Total Current Taxes	14.53M	22.91M	8.74M	2.34M	1.08M
Total Deferred Taxes	713K	2.85M	-7.41M	-9.55M	-9.3M
Normalized Net Income	62.65M	67.36M	208K	-58.07M	27.36M
Interest on Long-Term Debt	513K	560K	418K	126K	193K
Supplemental Operating Expense Items
Selling and Marketing Expenses	37.47M	28.87M	28.9M	18.85M	18.73M
General and Administrative Expenses	187M	189M	183M	142M	138M
Net Rental Expense, Total	2.15M	4.09M	2.81M	2.38M	2.86M
Imputed Operating Lease Interest Expense	550K	995K	1.31M	1.72M	1.05M
Imputed Operating Lease Depreciation	1.6M	3.09M	1.5M	1.22M	1.8M
Stock-Based Comp., Other (Total)	926K	1.8M	-	-	-
Total Stock-Based Compensation	926K	1.8M	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	217M	328M	317M	41.41M	112M
Short Term Investments	3.43M	1.62M	1.66M	890K	1.4M
Total Cash And Short Term Investments	220M	329M	319M	42.3M	113M
Accounts Receivable, Total	844M	863M	806M	709M	693M
Other Receivables	4.69M	4.68M	6.63M	4.69M	154K
Total Receivables	849M	867M	813M	714M	693M
Inventory	260M	360M	586M	418M	335M
Prepaid Expenses	4.73M	4.97M	4.44M	7.11M	6.07M
Other Current Assets, Total	434K	2.46M	748K	-	-
Total Current Assets	1.33B	1.56B	1.72B	1.18B	1.15B
Gross Property Plant And Equipment	356M	372M	348M	264M	210M
Accumulated Depreciation	-67.35M	-71.3M	-71.13M	-54.84M	-57.64M
Net Property Plant And Equipment	288M	300M	277M	209M	153M
Long-term Investments	2M	2M	2M	10.64M	14.4M
Other Intangibles, Total	-	-	-	-	-
Deferred Tax Assets Long-Term	624K	503K	505K	2.28M	-
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	15.78M	14.41M	14.99M	11.41M	44.88M
Total Assets	1.64B	1.88B	2.02B	1.41B	1.36B
Liabilities
Accounts Payable, Total	349M	390M	386M	323M	222M
Accrued Expenses, Total	46.41M	39.52M	33.56M	18.53M	28.85M
Short-term Borrowings	490M	584M	822M	376M	265M
Current Portion of Long-Term Debt	1.6M	27.1M	36.39M	244M	320M
Current Portion of Leases	6.51M	7.99M	8.11M	2.05M	1.21M
Current Income Taxes Payable	6.1M	5.2M	903K	550K	73K
Unearned Revenue Current, Total	8.85M	9.63M	2.97M	3.26M	2.69M
Other Current Liabilities	2.4M	2.52M	3.14M	13.34M	10.68M
Total Current Liabilities	911M	1.07B	1.29B	981M	851M
Long-Term Leases	11.27M	8.01M	4.09M	838K	627K
Deferred Tax Liability Non Current	31.65M	38.15M	30.15M	14.52M	570K
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	954M	1.11B	1.33B	996M	852M
Common Stock, Total	85.21M	85.78M	87.62M	87.69M	103M
Additional Paid In Capital	192M	194M	198M	-	-
Retained Earnings	299M	359M	303M	84.41M	140M
Comprehensive Income and Other	110M	132M	101M	246M	264M
Total Common Equity	687M	771M	691M	418M	507M
Minority Interest	-	-	66K	89K	-
Total Equity	687M	771M	691M	418M	507M
Total Liabilities And Equity	1.64B	1.88B	2.02B	1.41B	1.36B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	85.21M	86.99M	87.62M	87.69M	103M
ECS Total Common Shares Outstanding	85.21M	85.78M	87.62M	87.69M	103M
Book Value / Share	8.06	8.98	7.88	4.77	4.93
Tangible Book Value	687M	771M	691M	418M	507M
Tangible Book Value Per Share	8.06	8.98	7.88	4.77	4.93
Total Debt	509M	627M	871M	623M	587M
Net Debt	289M	297M	552M	581M	474M
Debt Equivalent Oper. Leases	17.22M	32.69M	22.46M	23.58M	22.85M
Minority Interest, Total (Incl. Fin. Div)	-	-	66K	89K	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Finished Goods, Total	270M	370M	594M	532M	403M
Land - (BS)	-	-	-	-	-
Machinery, Total	75.77M	80.2M	80.9M	61.61M	62.54M
Full Time Employees	361	359	377	312	293
Accumulated Allowance for Doubtful Accounts (Supple)	46.31M	41.72M	10.71M	11.49M	5.64M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	92.48M	82.19M	2.72M	-82.13M	50.96M
Depreciation & Amortization - CF	26.29M	22.53M	22.92M	15.93M	13.73M
Depreciation & Amortization, Total	26.29M	22.53M	22.92M	15.93M	13.73M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	1.37M	-6K	-206K	-88K	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-1.31M	-439K	-995K	251K	1.69M
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	926K	1.8M	-	-	-
Provision and Write-off of Bad Debts	9.11M	-4.61M	-881K	-10.42M	-6.01M
Other Operating Activities, Total	-42.61M	612K	4.87M	29.85M	-52.62M
Change In Accounts Receivable	-174M	-66.7M	26.35M	34.4M	-49.09M
Change In Inventories	152M	-99.47M	-227M	350M	130M
Change In Accounts Payable	40.9M	35.04M	1.66M	-541M	133M
Change in Unearned Revenues	3.75M	648K	-6.37M	-364K	-582K
Change in Other Net Operating Assets	21.13M	-7.23M	-6.79M	-14.25M	18.53M
Cash from Operations	130M	-35.64M	-184M	-217M	239M
Capital Expenditure	-1.5M	-4.04M	-4.9M	-540K	-374K
Sale of Property, Plant, and Equipment	347K	75K	293K	592K	-
Investment in Marketable and Equity Securities, Total	-	-	-	-2.88M	-9.91M
Other Investing Activities, Total	2.23M	-	2.3M	-	-
Cash from Investing	1.08M	-3.96M	-2.31M	-2.83M	-10.29M
Short Term Debt Issued, Total	2.51B	2.75B	2.71B	920M	1.32B
Long-Term Debt Issued, Total	770M	647M	823M	898M	-
Total Debt Issued	3.28B	3.4B	3.53B	2.43B	1.32B
Short Term Debt Repaid, Total	-2.64B	-2.61B	-2.54B	-883M	-1.52B
Long-Term Debt Repaid, Total	-825M	-612M	-754M	-797M	-2.46M
Total Debt Repaid	-3.46B	-3.23B	-3.29B	-2.24B	-1.52B
Issuance of Common Stock	-	1.49M	4.82M	244K	41.06M
Common Dividends Paid	-	-28.12M	-28.92M	-	-
Common & Preferred Stock Dividends Paid	-	-28.12M	-28.92M	-	-
Special Dividend Paid	-	-	-35.05M	-	-
Other Financing Activities, Total	-	-	79K	102K	-
Cash from Financing	-182M	149M	182M	186M	-157M
Foreign Exchange Rate Adjustments	3.61M	909K	-5.55M	-2.17M	-1.5M
Net Change in Cash	-47.92M	111M	-10.44M	-36.59M	70.58M
Supplemental Items
Cash Interest Paid	20.95M	15.97M	39.74M	35.38M	28.19M
Cash Income Tax Paid (Refund)	-401K	24.04M	14.81M	-5.17M	-2.57M
Levered Free Cash Flow	94.11M	-2.94M	-156M	134M	48.75M
Unlevered Free Cash Flow	106M	7.86M	-129M	166M	66.17M
Change In Net Working Capital	-17.74M	88.35M	189M	-213M	-10.73M
Net Debt Issued / Repaid	-182M	176M	241M	186M	-198M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.83	4.31	2.16	-3.3	3.03
Return on Total Capital	5.1	5.85	2.85	-4.88	3.94
Return On Equity %	14.71	11.28	0.37	-28.38	11.01
Return on Common Equity	14.71	11.28	0.37	-28.37	11.01
Margin Analysis
Gross Profit Margin %	9.38	9.77	8.89	3.74	9.27
SG&A Margin	6.31	6.36	6.76	6.6	6.67
EBITDA Margin %	3.21	3.96	2.63	-1.88	3.34
EBITA Margin %	2.81	3.55	2.15	-2.43	2.86
EBIT Margin %	2.81	3.55	2.15	-2.43	2.86
Income From Continuing Operations Margin %	2.6	2.4	0.09	-3.37	2.16
Net Income Margin %	2.6	2.4	0.09	-3.37	2.16
Net Avail. For Common Margin %	2.6	2.4	0.09	-3.37	2.16
Normalized Net Income Margin	1.76	1.97	0.01	-2.38	1.16
Levered Free Cash Flow Margin	2.64	-0.09	-4.98	5.01	2.07
Unlevered Free Cash Flow Margin	2.98	0.23	-4.11	6.25	2.81
Asset Turnover
Asset Turnover	2.18	1.95	1.61	1.37	1.7
Fixed Assets Turnover	12.66	11.64	10.86	10.21	13.06
Receivables Turnover (Average Receivables)	4.73	4.01	3.76	3.28	3.36
Inventory Turnover (Average Inventory)	10.16	9.97	6.04	3.96	5.68
Short Term Liquidity
Current Ratio	1.46	1.47	1.33	1.2	1.35
Quick Ratio	1.17	1.12	0.88	0.77	0.95
Operating Cash Flow to Current Liabilities	0.14	-0.03	-0.14	-0.22	0.28
Days Sales Outstanding (Average Receivables)	77.19	90.93	97.14	111.43	108.53
Days Outstanding Inventory (Average Inventory)	35.94	36.62	60.48	92.33	64.24
Average Days Payable Outstanding	38.47	42.25	45.89	76.41	48.39
Cash Conversion Cycle (Average Days)	74.67	85.29	111.72	127.36	124.38
Long Term Solvency
Total Debt/Equity	74.07	81.34	126.09	148.95	115.67
Total Debt / Total Capital	42.55	44.86	55.77	59.83	53.63
LT Debt/Equity	1.64	1.04	0.59	0.2	0.12
Long-Term Debt / Total Capital	0.94	0.57	0.26	0.08	0.06
Total Liabilities / Total Assets	58.12	59.05	65.77	70.43	62.68
EBIT / Interest Expense	5.26	7.03	1.54	-1.65	2.41
EBITDA / Interest Expense	6.64	8.33	2.07	-1.21	2.91
(EBITDA - Capex) / Interest Expense	6.56	8.1	1.95	-1.22	2.89
Total Debt / EBITDA	4.03	4.35	9.63	-14.37	7.24
Net Debt / EBITDA	2.28	2.07	6.11	-13.39	5.84
Total Debt / (EBITDA - Capex)	4.07	4.48	10.19	-14.19	7.27
Net Debt / (EBITDA - Capex)	2.31	2.13	6.46	-13.23	5.87
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	12.05	-3.71	-8.48	-15.01	-2.58
Gross Profit, 1 Yr. Growth %	61.82	0.36	-16.76	-63.97	154.32
EBITDA, 1 Yr. Growth %	-631.13	18.82	-39.19	-206.88	-234.17
EBITA, 1 Yr. Growth %	-381.14	21.34	-44.44	-252.31	-193.28
EBIT, 1 Yr. Growth %	-381.14	21.34	-44.44	-252.31	-193.28
Earnings From Cont. Operations, 1 Yr. Growth %	-227.47	-11.13	-96.71	-6.37K	-150.51
Net Income, 1 Yr. Growth %	-227.47	-11.13	-96.7	-6.33K	-150.51
Normalized Net Income, 1 Yr. Growth %	-222.32	7.52	-99.69	8.93K	-140.21
Diluted EPS Before Extra, 1 Yr. Growth %	-227.47	-12.46	-96.74	-6.33K	-146.72
Accounts Receivable, 1 Yr. Growth %	27.71	2.22	-6.58	1.32	-2.31
Inventory, 1 Yr. Growth %	-30.75	38.73	62.67	20.71	-19.79
Net Property, Plant and Equip., 1 Yr. Growth %	5.31	4.18	-7.69	-11.73	-26.93
Total Assets, 1 Yr. Growth %	0.91	14.7	7.22	-7.33	-3.88
Tangible Book Value, 1 Yr. Growth %	20.39	12.15	-10.38	-27.23	21.31
Common Equity, 1 Yr. Growth %	20.39	12.15	-10.38	-27.23	21.31
Cash From Operations, 1 Yr. Growth %	-54.63	-127.49	416.64	-132.26	-220.64
Capital Expenditures, 1 Yr. Growth %	13.72	169.07	21.53	4.44	-78.56
Levered Free Cash Flow, 1 Yr. Growth %	-75.44	-103.13	5.21K	-185.57	-
Unlevered Free Cash Flow, 1 Yr. Growth %	-73.87	-92.58	-1.74K	-229.27	-
Dividend Per Share, 1 Yr. Growth %	-	0	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-1.78	3.87	-6.13	-11.8	-
Gross Profit, 2 Yr. CAGR %	0.93	27.43	-8.6	-45.24	-
EBITDA, 2 Yr. CAGR %	28.72	151.22	-15	-19.38	-
EBITA, 2 Yr. CAGR %	34.29	84.7	-17.9	-8.01	-
EBIT, 2 Yr. CAGR %	34.29	84.7	-17.9	-8.01	-
Earnings From Cont. Operations, 2 Yr. CAGR %	120.84	6.44	-82.91	43.52	-
Net Income, 2 Yr. CAGR %	120.84	6.44	-82.86	43.49	-
Normalized Net Income, 2 Yr. CAGR %	139.76	14.68	-94.24	25.1	-
Diluted EPS Before Extra, 2 Yr. CAGR %	120.32	5.64	-83.1	42.57	-
Accounts Receivable, 2 Yr. CAGR %	4.81	14.26	-2.28	-2.71	-
Inventory, 2 Yr. CAGR %	-38.64	-1.98	50.22	40.13	-
Net Property, Plant and Equip., 2 Yr. CAGR %	1.6	4.74	-1.94	-9.74	-
Total Assets, 2 Yr. CAGR %	-11.25	7.58	10.9	-0.32	-
Tangible Book Value, 2 Yr. CAGR %	1.22	16.2	0.25	-19.25	-
Common Equity, 2 Yr. CAGR %	1.22	16.2	0.25	-19.25	-
Cash From Operations, 2 Yr. CAGR %	54.33	-64.69	19.16	29.09	-
Capital Expenditures, 2 Yr. CAGR %	-76.31	74.93	80.83	12.66	-
Levered Free Cash Flow, 2 Yr. CAGR %	29.84	-91.24	28.8	573.93	-
Unlevered Free Cash Flow, 2 Yr. CAGR %	11.73	-86.08	10.21	360.14	-
Dividend Per Share, 2 Yr. CAGR %	28.45	-	-	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-7.91	-2.43	-0.42	-9.18	-
Gross Profit, 3 Yr. CAGR %	-5.51	0.74	10.57	-32.99	-
EBITDA, 3 Yr. CAGR %	-6.2	25.33	56.56	-8.25	-
EBITA, 3 Yr. CAGR %	-7.74	29.82	23.75	0.88	-
EBIT, 3 Yr. CAGR %	-7.74	29.82	23.75	0.88	-
Earnings From Cont. Operations, 3 Yr. CAGR %	-6.17	63.04	-66.61	22.33	-
Net Income, 3 Yr. CAGR %	-6.17	63.04	-66.55	22.31	-
Normalized Net Income, 3 Yr. CAGR %	-8.76	83.52	-84.05	18.94	-
Diluted EPS Before Extra, 3 Yr. CAGR %	-6.51	61.97	-66.86	21.18	-
Accounts Receivable, 3 Yr. CAGR %	-4.06	3.94	6.84	-1.09	-
Inventory, 3 Yr. CAGR %	-27.82	-19.46	16.05	39.66	-
Net Property, Plant and Equip., 3 Yr. CAGR %	2.49	2.45	0.42	-5.32	-
Total Assets, 3 Yr. CAGR %	-10.14	-3.33	7.46	4.45	-
Tangible Book Value, 3 Yr. CAGR %	-1.37	4.74	6.56	-9.9	-
Common Equity, 3 Yr. CAGR %	-1.37	4.74	6.56	-9.9	-
Cash From Operations, 3 Yr. CAGR %	-6.47	-13.17	-13.63	-22.92	-
Capital Expenditures, 3 Yr. CAGR %	-15.1	-46.74	54.93	50.6	-
Levered Free Cash Flow, 3 Yr. CAGR %	-23.11	-62.51	-25.86	12.39	-
Unlevered Free Cash Flow, 3 Yr. CAGR %	-17.34	-54.76	-31.79	16.23	-
Dividend Per Share, 3 Yr. CAGR %	-4.74	18.17	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-0.43	-2.47	-7.2	-6.29	-
Gross Profit, 5 Yr. CAGR %	1.19	1.11	-6.76	-21.06	-
EBITDA, 5 Yr. CAGR %	5.22	8.34	-9.82	5.05	-
EBITA, 5 Yr. CAGR %	6.23	8.94	-11.95	13.11	-
EBIT, 5 Yr. CAGR %	6.23	8.94	-11.95	13.11	-
Earnings From Cont. Operations, 5 Yr. CAGR %	5.75	16.17	-52.52	54.93	-
Net Income, 5 Yr. CAGR %	5.25	16.98	-52.47	54.92	-
Normalized Net Income, 5 Yr. CAGR %	59.4	17.09	-69.79	57.44	-
Diluted EPS Before Extra, 5 Yr. CAGR %	4.73	15.43	-52.84	53.91	-
Accounts Receivable, 5 Yr. CAGR %	7.76	2.41	-3.35	1.23	-
Inventory, 5 Yr. CAGR %	-13.47	-9.44	-3.23	0.51	-
Net Property, Plant and Equip., 5 Yr. CAGR %	2.74	5.23	0.69	-2.61	-
Total Assets, 5 Yr. CAGR %	-2.55	-0.57	-2.25	-2.14	-
Tangible Book Value, 5 Yr. CAGR %	4.35	5.92	-0.72	-5.61	-
Common Equity, 5 Yr. CAGR %	4.35	5.92	-0.72	-5.61	-
Cash From Operations, 5 Yr. CAGR %	31.12	-24.08	3.05	1.76	-
Capital Expenditures, 5 Yr. CAGR %	-9.16	11.09	14.88	-28.13	-
Levered Free Cash Flow, 5 Yr. CAGR %	19.31	-54.11	-5.49	19.07	-
Unlevered Free Cash Flow, 5 Yr. CAGR %	15.34	-42.87	-7.26	14.41	-
Dividend Per Share, 5 Yr. CAGR %	-	3.21	-	-	-