Holding Varna AD (BUL:HVAR)

Holding Varna AD Statistics

Total Valuation

BUL:HVAR has a market cap or net worth of BGN 320.36 million. The enterprise value is 474.44 million.

Market Cap	320.36M
Enterprise Value	474.44M

Important Dates

The next estimated earnings date is Wednesday, September 16, 2026.

Earnings Date	Sep 16, 2026
Ex-Dividend Date	n/a

Share Statistics

BUL:HVAR has 6.49 million shares outstanding. The number of shares has increased by 0.17% in one year.

Current Share Class	6.49M
Shares Outstanding	6.49M
Shares Change (YoY)	+0.17%
Shares Change (QoQ)	n/a
Owned by Insiders (%)	0.00%
Owned by Institutions (%)	6.84%
Float	3.57M

Valuation Ratios

The trailing PE ratio is 34.24.

PE Ratio	34.24
Forward PE	n/a
PS Ratio	3.07
PB Ratio	1.35
P/TBV Ratio	2.31
P/FCF Ratio	n/a
P/OCF Ratio	n/a
PEG Ratio	n/a

Enterprise Valuation

The stock's EV/EBITDA ratio is 24.33, with an EV/FCF ratio of -23.38.

EV / Earnings	50.34
EV / Sales	4.57
EV / EBITDA	24.33
EV / EBIT	36.76
EV / FCF	-23.38

Financial Position

The company has a current ratio of 0.93, with a Debt / Equity ratio of 0.76.

Current Ratio	0.93
Quick Ratio	0.78
Debt / Equity	0.76
Debt / EBITDA	9.20
Debt / FCF	-8.96
Interest Coverage	1.88

Financial Efficiency

Return on equity (ROE) is 5.01% and return on invested capital (ROIC) is 3.14%.

Return on Equity (ROE)	5.01%
Return on Assets (ROA)	1.74%
Return on Invested Capital (ROIC)	3.14%
Return on Capital Employed (ROCE)	3.68%
Weighted Average Cost of Capital (WACC)	3.86%
Revenue Per Employee	107,585
Profits Per Employee	9,725
Employee Count	969
Asset Turnover	0.22
Inventory Turnover	3.12

Taxes

In the past 12 months, BUL:HVAR has paid 2.01 million in taxes.

Income Tax	2.01M
Effective Tax Rate	14.71%

Stock Price Statistics

The stock price has increased by +6.14% in the last 52 weeks. The beta is -0.01, so BUL:HVAR's price volatility has been lower than the market average.

Beta (5Y)	-0.01
52-Week Price Change	+6.14%
50-Day Moving Average	24.79
200-Day Moving Average	24.05
Relative Strength Index (RSI)	60.90
Average Volume (20 Days)	300

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 104.25 million and earned 9.42 million in profits. Earnings per share was 1.45.

Revenue	104.25M
Gross Profit	50.28M
Operating Income	13.12M
Pretax Income	13.64M
Net Income	9.42M
EBITDA	19.75M
EBIT	13.12M
Earnings Per Share (EPS)	1.45

Balance Sheet

The company has 68.58 million in cash and 181.74 million in debt, with a net cash position of -113.16 million or -17.45 per share.

Cash & Cash Equivalents	68.58M
Total Debt	181.74M
Net Cash	-113.16M
Net Cash Per Share	-17.45
Equity (Book Value)	238.16M
Book Value Per Share	30.29
Working Capital	-7.37M

Cash Flow

In the last 12 months, operating cash flow was -3.34 million and capital expenditures -16.95 million, giving a free cash flow of -20.29 million.

Operating Cash Flow	-3.34M
Capital Expenditures	-16.95M
Depreciation & Amortization	6.63M
Net Borrowing	-13.99M
Free Cash Flow	-20.29M
FCF Per Share	-3.13

Margins

Gross margin is 48.23%, with operating and profit margins of 12.58% and 9.04%.

Gross Margin	48.23%
Operating Margin	12.58%
Pretax Margin	13.09%
Profit Margin	9.04%
EBITDA Margin	18.95%
EBIT Margin	12.58%
FCF Margin	n/a

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	-0.17%
Shareholder Yield	-0.17%
Earnings Yield	2.94%
FCF Yield	-6.33%

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

Altman Z-Score	n/a
Piotroski F-Score	4