FY 2025 report
Bowim to dystrybutor wyrobów hutniczych, który w 2025 r. wyszedł z małej straty na symboliczny zysk netto 651 tys. zł przy przychodach 1,74 mld zł — marża netto praktycznie zerowa.
Sentiment
Cautious
No guidance change
Coming soon
Website
BOW
FY 2025 report
Revenue
1.74 bn PLN
— YoY
Net income
651 k PLN
— YoY
EBITDA
29.68 m PLN
— YoY
CFO
13.54 m PLN
— YoY
Summary
Investment thesis
- Poprawa wyniku operacyjnego (EBIT 19,4 mln zł wobec 4,7 mln zł) wynika z odbicia po stabilizacji cen stali w IV kw. 2025 oraz wzrostu wolumenu o 4,2% r/r, a nie z wzrostu skali przychodów (−4,1% r/r).
- Niemal cały wynik operacyjny pochłaniają koszty finansowe (27,4 mln zł, w tym faktoring i odsetki od kredytów obrotowych) — pokrycie EBIT/koszty finansowe to ok. 0,7x.
- Bilans pozostaje oparty na kapitale własnym (314,8 mln zł, ok. 58% sumy bilansowej), ale gotówka spadła do 9,4 mln zł, a zapasy (200,8 mln zł) i zobowiązania handlowe (174,7 mln zł) dominują nad resztą bilansu — model zależy od linii kredytowych i faktoringu.
- Teza zależy od utrzymania cen stali i popytu budowlanego/infrastrukturalnego w 2026 r.; przy cienkiej marży (EBIT ok. 1,1%) niewielkie wahnięcie cen wyrobów hutniczych zmienia wynik z zysku w stratę.
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Financials
BETA Data may contain errors — check the source report to confirm.
BOW · FY 2025
| Metric | FY 2025 | FY 2024 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|
| Group has filter matches — stays expanded | ||||||
| Revenue | 1,740,777 | — | — | reported | — | 1.00 |
| EBITDA | 29,684 | — | — | reported | — | 1.00 |
| EBIT | 19,375 | — | — | reported | — | 1.00 |
| EBT | 1,443 | — | — | reported | — | 1.00 |
| Net income | 651 | — | — | reported | — | 1.00 |
| D&A | 10,309 | — | — | reported | — | 1.00 |
| Interest expense | 27,390 | — | — | reported | — | 0.80 |
| Income tax | 792 | — | — | reported | — | 0.70 |
| Group has filter matches — stays expanded | ||||||
| EBITDA margin | 1.71% | — | — | derived | — | 0.90 |
| EBIT margin | 1.11% | — | — | derived | — | 0.90 |
| Net margin | 0.04% | — | — | derived | — | 0.90 |
| Group has filter matches — stays expanded | ||||||
| Cash | 9,410 | — | — | reported | — | 1.00 |
| Equity | 314,781 | — | — | reported | — | 1.00 |
| Total assets | 545,997 | — | — | reported | — | 1.00 |
| Working capital | 152,268 | — | — | derived | — | 0.90 |
| Current assets | 337,330 | — | — | reported | — | 1.00 |
| Current liabilities | 185,062 | — | — | reported | — | 1.00 |
| Non-current liabilities | 46,154 | — | — | reported | — | 1.00 |
| Inventory | 200,821 | — | — | reported | — | 1.00 |
| Trade receivables | 125,771 | — | — | reported | — | 0.80 |
| Trade payables | 174,727 | — | — | reported | — | 1.00 |
| Group has filter matches — stays expanded | ||||||
| CFO | 13,535 | — | — | reported | — | 1.00 |
| CFO conversion | 45.6% | — | — | derived | — | 0.90 |
| Group has filter matches — stays expanded | ||||||
| ROE | 0.21% | — | — | derived | — | 0.80 |
| ROA | 0.12% | — | — | derived | — | 0.80 |
| Group has filter matches — stays expanded | ||||||
| Current ratio | 1.82x | — | — | derived | — | 0.90 |
| Quick ratio | 0.74x | — | — | derived | — | 0.90 |
| Cash ratio | 0.05x | — | — | derived | — | 0.90 |
| Interest coverage | 0.71x | — | — | derived | — | 0.70 |
| Group has filter matches — stays expanded | ||||||
| Revenue growth (YoY) | -4.12% | — | — | derived | — | 0.90 |
| EBITDA growth (YoY) | 112.47% | — | — | derived | — | 0.90 |
| EBIT growth (YoY) | 311.88% | — | — | derived | — | 0.90 |
| Net income growth (YoY) | 106.15% | — | — | derived | — | 0.70 |
| EBITDA margin Δ (YoY) | 0.94 pp | — | — | derived | — | 0.90 |
| EBIT margin Δ (YoY) | 0.85 pp | — | — | derived | — | 0.90 |
| Net margin Δ (YoY) | 0.62 pp | — | — | derived | — | 0.90 |
FY 2025 · Δ YoY
Group has filter matches — stays expanded
Revenue
1,740,777
—
1,740,777
—
- FY 2024
- —
EBITDA
29,684
—
29,684
—
- FY 2024
- —
EBIT
19,375
—
19,375
—
- FY 2024
- —
EBT
1,443
—
1,443
—
- FY 2024
- —
Net income
651
—
651
—
- FY 2024
- —
D&A
10,309
—
10,309
—
- FY 2024
- —
Interest expense
27,390
—
27,390
—
- FY 2024
- —
Income tax
792
—
792
—
- FY 2024
- —
Group has filter matches — stays expanded
EBITDA margin
1.71%
—
1.71%
—
- FY 2024
- —
EBIT margin
1.11%
—
1.11%
—
- FY 2024
- —
Net margin
0.04%
—
0.04%
—
- FY 2024
- —
Group has filter matches — stays expanded
Cash
9,410
—
9,410
—
- FY 2024
- —
Equity
314,781
—
314,781
—
- FY 2024
- —
Total assets
545,997
—
545,997
—
- FY 2024
- —
Working capital
152,268
—
152,268
—
- FY 2024
- —
Current assets
337,330
—
337,330
—
- FY 2024
- —
Current liabilities
185,062
—
185,062
—
- FY 2024
- —
Non-current liabilities
46,154
—
46,154
—
- FY 2024
- —
Inventory
200,821
—
200,821
—
- FY 2024
- —
Trade receivables
125,771
—
125,771
—
- FY 2024
- —
Trade payables
174,727
—
174,727
—
- FY 2024
- —
Group has filter matches — stays expanded
CFO
13,535
—
13,535
—
- FY 2024
- —
CFO conversion
45.6%
—
45.6%
—
- FY 2024
- —
Group has filter matches — stays expanded
ROE
0.21%
—
0.21%
—
- FY 2024
- —
ROA
0.12%
—
0.12%
—
- FY 2024
- —
Group has filter matches — stays expanded
Current ratio
1.82x
—
1.82x
—
- FY 2024
- —
Quick ratio
0.74x
—
0.74x
—
- FY 2024
- —
Cash ratio
0.05x
—
0.05x
—
- FY 2024
- —
Interest coverage
0.71x
—
0.71x
—
- FY 2024
- —
Group has filter matches — stays expanded
Revenue growth (YoY)
-4.12%
—
-4.12%
—
- FY 2024
- —
EBITDA growth (YoY)
112.47%
—
112.47%
—
- FY 2024
- —
EBIT growth (YoY)
311.88%
—
311.88%
—
- FY 2024
- —
Net income growth (YoY)
106.15%
—
106.15%
—
- FY 2024
- —
EBITDA margin Δ (YoY)
0.94 pp
—
0.94 pp
—
- FY 2024
- —
EBIT margin Δ (YoY)
0.85 pp
—
0.85 pp
—
- FY 2024
- —
Net margin Δ (YoY)
0.62 pp
—
0.62 pp
—
- FY 2024
- —