Holding Varna AD (BUL:HVAR)

Holding Varna AD Ratios and Metrics

Market cap in millions BGN. Fiscal year is January - December.

Total Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 28, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Capitalization	317	315	301	284	281	271
Market Cap Growth	3.57%	4.74%	5.94%	0.92%	3.83%	5.56%
Enterprise Value	362	480	476	475	463	417
Last Close Price	48.89	48.60	46.40	43.80	43.40	41.80

Price Ratios

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 28, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	32.75	33.45	178.39	258.96	115.32	151.46
PS Ratio	3.06	3.05	3.53	3.35	3.88	4.33
PB Ratio	1.53	1.32	1.33	1.28	1.27	1.22
P/TBV Ratio	1.53	2.27	2.31	2.16	2.15	2.11
P/FCF Ratio	-	-	7.89	104.94	-	-
P/OCF Ratio	-	-	6.69	35.00	127.60	49.30

EV Ratios

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 28, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
EV/Sales Ratio	3.51	4.64	5.58	5.59	6.38	6.66
EV/EBITDA Ratio	16.82	26.07	37.96	43.28	62.39	44.80
EV/EBIT Ratio	26.14	36.90	66.39	81.90	199.96	99.86
EV/FCF Ratio	-	-	12.46	175.29	-	-

Financial Efficiency

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 28, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Debt / Equity Ratio	0.74	0.77	0.84	0.92	0.96	1.03
Debt / EBITDA Ratio	8.17	9.29	14.07	16.70	24.59	21.11
Debt / FCF Ratio	21.56	-	4.97	75.90	-	-
Net Debt / Equity Ratio	0.52	0.48	0.38	0.60	0.66	0.65
Net Debt / EBITDA Ratio	6.43	6.17	6.95	12.23	19.77	15.52
Net Debt / FCF Ratio	15.11	-5.60	2.28	49.55	-62.40	-37.21
Asset Turnover	0.23	0.22	0.18	0.19	0.16	0.13
Inventory Turnover	3.31	3.10	2.66	3.90	7.34	16.98
Quick Ratio	0.51	0.76	0.93	1.07	0.97	1.16
Current Ratio	0.75	0.93	1.11	1.27	1.23	1.36
Return on Equity (ROE)	5.26%	5.01%	0.98%	0.12%	0.57%	1.09%
Return on Assets (ROA)	1.82%	1.72%	0.95%	0.80%	0.31%	0.56%
Return on Invested Capital (ROIC)	3.20%	3.33%	1.92%	0.37%	0.51%	0.95%
Return on Capital Employed (ROCE)	4.00%	3.60%	2.00%	1.60%	0.60%	1.10%

Yields

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 28, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Earnings Yield	3.07%	2.99%	0.56%	0.39%	0.87%	0.66%
FCF Yield	-5.70%	-6.44%	12.68%	0.95%	-0.83%	-1.43%
Buyback Yield / Dilution	-	-	-	-	-	-0.20%

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Jul 29, 2026

Data Sources Report a data error