Holding Varna AD (BUL:HVAR)

Holding Varna AD Statistics

Total Valuation

BUL:HVAR has a market cap or net worth of BGN 308.73 million. The enterprise value is 469.61 million.

Market Cap	308.73M
Enterprise Value	469.61M

Important Dates

The last earnings date was Monday, September 22, 2025.

Earnings Date	Sep 22, 2025
Ex-Dividend Date	n/a

Share Statistics

BUL:HVAR has 6.49 million shares outstanding.

Current Share Class	6.49M
Shares Outstanding	6.49M
Shares Change (YoY)	n/a
Shares Change (QoQ)	-0.00%
Owned by Insiders (%)	0.00%
Owned by Institutions (%)	6.84%
Float	3.57M

Valuation Ratios

The trailing PE ratio is 35.75.

PE Ratio	35.75
Forward PE	n/a
PS Ratio	3.14
PB Ratio	1.35
P/TBV Ratio	2.34
P/FCF Ratio	32.23
P/OCF Ratio	13.93
PEG Ratio	n/a

Enterprise Valuation

The stock's EV/EBITDA ratio is 25.33, with an EV/FCF ratio of 49.03.

EV / Earnings	54.38
EV / Sales	4.78
EV / EBITDA	25.33
EV / EBIT	37.12
EV / FCF	49.03

Financial Position

The company has a current ratio of 0.95, with a Debt / Equity ratio of 0.81.

Current Ratio	0.95
Quick Ratio	0.81
Debt / Equity	0.81
Debt / EBITDA	10.05
Debt / FCF	19.43
Interest Coverage	1.60

Financial Efficiency

Return on equity (ROE) is 5.50% and return on invested capital (ROIC) is 1.92%.

Return on Equity (ROE)	5.50%
Return on Assets (ROA)	1.74%
Return on Invested Capital (ROIC)	1.92%
Return on Capital Employed (ROCE)	3.59%
Revenue Per Employee	101,345
Profits Per Employee	8,911
Employee Count	961
Asset Turnover	0.22
Inventory Turnover	3.37

Taxes

In the past 12 months, BUL:HVAR has paid 337,000 in taxes.

Income Tax	337,000
Effective Tax Rate	2.68%

Stock Price Statistics

The stock price has increased by +3.93% in the last 52 weeks. The beta is -0.00, so BUL:HVAR's price volatility has been lower than the market average.

Beta (5Y)	-0.00
52-Week Price Change	+3.93%
50-Day Moving Average	47.36
200-Day Moving Average	46.11
Relative Strength Index (RSI)	64.34
Average Volume (20 Days)	266

Short Selling Information

Short Interest	n/a
Short Previous Month	n/a
Short % of Shares Out	n/a
Short % of Float	n/a
Short Ratio (days to cover)	n/a

Income Statement

In the last 12 months, BUL:HVAR had revenue of BGN 98.20 million and earned 8.64 million in profits. Earnings per share was 1.33.

Revenue	98.20M
Gross Profit	42.28M
Operating Income	12.63M
Pretax Income	12.56M
Net Income	8.64M
EBITDA	17.58M
EBIT	12.63M
Earnings Per Share (EPS)	1.33

Balance Sheet

The company has 64.95 million in cash and 186.07 million in debt, giving a net cash position of -121.11 million or -18.67 per share.

Cash & Cash Equivalents	64.95M
Total Debt	186.07M
Net Cash	-121.11M
Net Cash Per Share	-18.67
Equity (Book Value)	228.59M
Book Value Per Share	29.11
Working Capital	-5.53M

Cash Flow

In the last 12 months, operating cash flow was 22.16 million and capital expenditures -12.58 million, giving a free cash flow of 9.58 million.

Operating Cash Flow	22.16M
Capital Expenditures	-12.58M
Free Cash Flow	9.58M
FCF Per Share	1.48

Margins

Gross margin is 43.06%, with operating and profit margins of 12.87% and 8.79%.

Gross Margin	43.06%
Operating Margin	12.87%
Pretax Margin	12.79%
Profit Margin	8.79%
EBITDA Margin	17.91%
EBIT Margin	12.87%
FCF Margin	9.75%

Dividends & Yields

BUL:HVAR does not appear to pay any dividends at this time.

Dividend Per Share	n/a
Dividend Yield	n/a
Dividend Growth (YoY)	n/a
Years of Dividend Growth	n/a
Payout Ratio	n/a
Buyback Yield	n/a
Shareholder Yield	n/a
Earnings Yield	2.80%
FCF Yield	3.10%

Fair Value

There are several formulas that can be used to estimate the intrinsic value of a stock.

Lynch Fair Value
Lynch Upside
Graham Number
Graham Upside

Stock Splits

This stock does not have any record of stock splits.

Last Split Date	n/a
Split Type	n/a
Split Ratio	n/a

Scores

BUL:HVAR has an Altman Z-Score of 1.12 and a Piotroski F-Score of 6. A Z-score under 3 suggests an increased risk of bankruptcy.

Altman Z-Score	1.12
Piotroski F-Score	6