A Business at a Glance
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Item 1. Business Southland is a diverse leader in specialty infrastructure construction with roots dating back to 1900. The end markets for which we provide services cover a broad spectrum of specialty services within infrastructure construction. We design and construct projects in the bridges, tunnels, communications, transportation and facilities, marine, steel structures, water and wastewater treatment, and water pipelines end markets. Southland is based in Grapevine, Texas. It is the parent company of Johnson Bros. Corporation, American Bridge Company, Oscar Renda Contracting, Southland Contracting, Mole Constructors, and Heritage Materials. With the combined capabilities of these six primary subsidiaries, Southland has become a diversified industry leader with projects spanning North America in various end markets.
| Metric | TTM | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | 935M | 980M | 1.2B | 1.2B |
| Net Income | -94M | -105M | -19M | 61M |
| EPS | $-1.75 | $-2.19 | $-0.41 | $1.26 |
| Free Cash Flow | -8.1M | -5.5M | -21M | -71M |
| ROIC | -3.8% | -25.1% | -3.8% | 12.0% |
| Gross Margin | 4.9% | -6.4% | 3.1% | 12.1% |
| Debt/Equity | 3.57 | 1.83 | 1.20 | 0.78 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | -15M | -126M | -31M | 83M |
| Operating Margin | -1.6% | -12.9% | -2.7% | 7.1% |
| ROE | -125.7% | -51.0% | -7.7% | 17.3% |
| Shares Outstanding | 54M | 48M | 47M | 48M |
| Metric | 2022 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 1.2B | 1.2B | 980M | 935M |
| Gross Margin | 12.1% | 3.1% | -6.4% | 4.9% |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A |
| EBIT | 83M | -31M | -126M | -15M |
| Op. Margin | 7.1% | -2.7% | -12.9% | -1.6% |
| Net Income | 61M | -19M | -105M | -94M |
| Net Margin | 5.2% | -1.7% | -10.7% | -10.1% |
| Non-Recurring | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||
| ROIC | 12.0% | -3.8% | -25.1% | -3.8% |
| ROE | 17.3% | -7.7% | -51.0% | -125.7% |
| ROA | 5.4% | -1.6% | -8.8% | -8.3% |
| Cash Flow | ||||
| Op. Cash Flow | -66M | -10M | 1.9M | -3.4M |
| Free Cash Flow | -71M | -21M | -5.5M | -8.1M |
| Owner Earnings | -112M | -42M | -23M | -29M |
| CapEx | 4.8M | 11M | 7.4M | 4.7M |
| Maint. CapEx | 46M | 31M | 23M | 23M |
| Growth CapEx | 0 | 0 | 0 | 0 |
| D&A | 46M | 31M | 23M | 23M |
| CapEx/OCF | N/A | N/A | 384.8% | 0.0% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | 891K | 2.0M | 2.0M |
| Debt Repayment | 0 | 471K | 246K | 246K |
| Balance Sheet | ||||
| Net Debt | 216M | 251M | 228M | 227M |
| Cash & Equiv. | N/A | N/A | N/A | 40M |
| Long-Term Debt | 227M | 252M | 256M | 256M |
| Debt/Equity | 0.78 | 1.20 | 1.83 | 3.57 |
| Interest Coverage | 9.3 | -1.6 | -4.3 | -4.3 |
| Equity | 349M | 250M | 164M | 75M |
| Total Assets | 1.1B | 1.2B | 1.2B | 1.1B |
| Total Liabilities | 765M | 941M | 1.0B | 58M |
| Intangibles | 1.5M | 1.5M | 1.5M | 1.5M |
| Retained Earnings | N/A | -19M | -125M | -125M |
| Working Capital | 391M | 359M | 261M | 261M |
| Current Assets | 867M | 943M | 882M | 882M |
| Current Liabilities | 476M | 584M | 621M | 621M |
| Per Share Data | ||||
| EPS | 1.26 | -0.41 | -2.19 | -1.75 |
| Owner EPS | -2.33 | -0.89 | -0.49 | -0.53 |
| Book Value | 7.29 | 5.32 | 3.40 | 1.39 |
| Cash Flow/Share | -1.38 | -0.22 | 0.04 | -1.31 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 47.9M | 47.0M | 48.1M | 54.1M |
| Valuation | ||||
| P/E Ratio | 8.1 | N/A | N/A | -0.6 |
| P/FCF | N/A | N/A | N/A | N/A |
| EV/EBIT | 8.5 | N/A | N/A | N/A |
| Price/Book | 1.4 | 1.0 | 1.0 | 0.8 |
| Price/Sales | 0.4 | 0.3 | 0.2 | 0.1 |
| FCF Yield | -14.5% | -8.9% | -3.3% | -13.4% |
| Market Cap | 490M | 238M | 165M | 60M |
| Avg. Price | 9.94 | 7.67 | 4.28 | 1.11 |
| Year-End Price | 10.22 | 5.07 | 3.43 | 1.11 |
Southland Holdings, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 2.9%. At current prices, the estimated annualized return to fair value is -32.7%.
Southland Holdings, Inc. (SLND) has a 5-year average return on invested capital (ROIC) of -5.7%. This is below average and may indicate limited pricing power.
Southland Holdings, Inc. (SLND) has a market capitalization of $60M. It is classified as a small-cap stock.
Southland Holdings, Inc. (SLND) does not currently pay a regular dividend.
Southland Holdings, Inc. (SLND) operates in the Heavy Construction Other Than Bldg Const - Contractors industry, within the Industrials sector.
Southland Holdings, Inc. (SLND) reported annual revenue of $980 million in its most recent fiscal year, based on SEC EDGAR filings.
Southland Holdings, Inc. (SLND) has a net profit margin of -10.7%. The company is currently unprofitable.
Southland Holdings, Inc. (SLND) generated $-5 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Southland Holdings, Inc. (SLND) has a debt-to-equity ratio of 1.83. This indicates higher leverage, which may increase financial risk.
Southland Holdings, Inc. (SLND) reported earnings per share (EPS) of $-2.19 in its most recent fiscal year.
Southland Holdings, Inc. (SLND) has a return on equity (ROE) of -51.0%. A negative ROE may indicate losses or negative equity.
Southland Holdings, Inc. (SLND) has a 5-year average gross margin of 2.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 3 years of financial data for Southland Holdings, Inc. (SLND), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Southland Holdings, Inc. (SLND) has a book value per share of $3.40, based on its most recent annual SEC filing.