Cash flow ACWA Power Company

Equities

2082

SA15CGS10H12

Multiline Utilities

Delayed Saudi Arabian S.E. Other stock markets 05:43:33 2024-12-02 am EST			5-day change	1st Jan Change
385.40 ^SAR	+1.96%		+1.91%	+50.03%

Nov. 28	JPMorgan Cuts Acwa Power PT, Affirms Underweight Rating	MT
Nov. 25	Acwa Power Extends Board Nomination Period	MT

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Published financial data: ACWA POWER COMPANY

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues - (Utility Template)	4.11B	4.83B	5.36B	5.28B	6.1B
Total Revenues	4.11B	4.83B	5.36B	5.28B	6.1B
Operations And Maintenance	3.78M	4.13M	4.93M	2.31M	2.49M
Selling General & Admin Expenses, Total	678M	815M	936M	1.03B	1.23B
Stock-Based Compensation (IS)	-	-	280M	-	-
Other Operating Expenses	1.88B	2.26B	2.47B	1.99B	2.44B
Total Operating Expenses	2.56B	3.07B	3.69B	3.02B	3.68B
Operating Income (REIT / Utility Template)	1.56B	1.76B	1.67B	2.26B	2.42B
Interest Expense, Total	-824M	-1.01B	-1.03B	-1.18B	-1.46B
Interest and Investment Income	114M	55.15M	17.58M	118M	441M
Net Interest Expenses	-711M	-952M	-1.02B	-1.06B	-1.01B
Income (Loss) on Equity Invest.	284M	231M	226M	294M	245M
Currency Exchange Gains (Loss)	-29.11M	-23.46M	-46.5M	-36.84M	2.77M
Other Non Operating Income (Expenses)	-44.81M	-36.4M	38.92M	206M	66.12M
EBT, Excl. Unusual Items	1.06B	974M	873M	1.66B	1.71B
Impairment of Goodwill	-3M	-7.5M	-60.02M	-	-
Gain (Loss) on Sale of Investments	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	16.6M	-7.75M	23.28M	-
Asset Writedown	-877M	-211M	-	-122M	-
Insurance Settlements	11.65M	59.19M	21.97M	43.92M	82.1M
Legal Settlements	-	-	-	-112M	10.2M
Other Unusual Items	211M	-	-	-	28M
EBT, Incl. Unusual Items	400M	832M	827M	1.49B	1.84B
Income Tax Expense	74.01M	-50.95M	83.12M	233M	53.73M
Earnings From Continuing Operations	326M	883M	744M	1.26B	1.78B
Earnings Of Discontinued Operations	554M	19.8M	-	218M	-9.95M
Net Income to Company	880M	902M	744M	1.48B	1.77B
Minority Interest	294M	-19.82M	14.89M	63.62M	-110M
Net Income - (IS)	1.17B	883M	759M	1.54B	1.66B
Net Income to Common Incl Extra Items	1.17B	883M	759M	1.54B	1.66B
Net Income to Common Excl. Extra Items	620M	863M	759M	1.32B	1.67B
Per Share Items
Net EPS - Basic	1.81	1.36	1.14	2.1	2.27
Basic EPS - Continuing Operations	0.96	1.33	1.14	1.8	2.28
Basic Weighted Average Shares Outstanding	647M	647M	666M	733M	733M
Net EPS - Diluted	1.81	1.36	1.14	2.1	2.27
Diluted EPS - Continuing Operations	0.96	1.33	1.14	1.8	2.28
Diluted Weighted Average Shares Outstanding	647M	647M	666M	733M	733M
Normalized Basic EPS	1.48	0.91	0.84	1.5	1.31
Normalized Diluted EPS	1.48	0.91	0.84	1.5	1.31
Dividend Per Share	-	-	0.77	0.83	0.45
Payout Ratio	28.84	122.65	105.55	40.62	36.52
Supplemental Items
Utility Revenues	1.75B	2.58B	2.54B	2.31B	2.36B
Non Utility Revenues	2.37B	2.25B	2.82B	2.97B	3.74B
EBITDA	1.86B	2.31B	2.28B	2.71B	2.86B
EBITA	1.56B	1.77B	1.68B	2.27B	2.43B
EBIT	1.56B	1.76B	1.67B	2.26B	2.42B
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	18.51	-6.13	10.05	15.61	2.93
Normalized Net Income	955M	589M	560M	1.1B	962M
Interest Capitalized	78.2M	55.2M	140M	94M	141M
Non-Cash Pension Expense	4.06M	3.75M	3.31M	3.25M	5.59M
Supplemental Operating Expense Items
General and Administrative Expenses	678M	815M	936M	1.03B	1.23B
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Maintenance & Repair Expenses, Total	3.78M	4.13M	4.93M	2.31M	2.49M
Stock-Based Comp., Other (Total)	-	-	280M	-	-
Total Stock-Based Compensation	-	-	280M	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.8B	833M	5.17B	6.35B	4.74B
Short Term Investments - (Utility / Insurance Templates)	-	-	-	-	1.22B
Trading Asset Securities, Total	-	-	-	106M	88.15M
Accounts Receivable, Total	1.48B	1.67B	1.74B	2B	2.05B
Other Receivables	613M	737M	800M	999M	1.36B
Accounts Receivable (Summary Subtotal)	2.09B	2.4B	2.54B	3B	3.41B
Inventory - (Utility Template)	679M	764M	593M	655M	804M
Prepaid Expenses	1.34B	957M	336M	579M	382M
Notes Receivable (Collected)	-	-	-	-	-
Assets Of Discontinued Operations Current	475M	-	-	-	2.8B
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	249M	415M	1.03B	905M	834M
Total Current Assets	7.64B	5.37B	9.67B	11.6B	14.28B
Gross Property Plant And Equipment	18.29B	18.56B	18.2B	16.34B	16.96B
Accumulated Depreciation	-6.21B	-5.77B	-6.34B	-6.17B	-6.59B
Net Property Plant And Equipment	12.08B	12.78B	11.86B	10.17B	10.37B
Goodwill	2B	2B	1.94B	1.92B	1.92B
Other Intangibles, Total	-	61.37M	60.14M	104M	132M
Long-Term Investments - (Utility Template)	5.29B	5.06B	9.48B	13.55B	16.63B
Accounts Receivable Long-Term	10.36B	10.61B	12.37B	11.5B	11.23B
Loans Receivable Long-Term - (Utility Template)	-	-	-	-	-
Deferred Tax Assets Long-Term (Collected)	23.46M	135M	165M	120M	153M
Other Long-Term Assets, Total	340M	302M	166M	330M	302M
Total Assets	37.75B	36.32B	45.71B	49.3B	55.02B
Liabilities
Accounts Payable, Total	1.45B	1.39B	1.26B	1.16B	1.27B
Accrued Expenses, Total	1.01B	1.1B	1.67B	1.41B	1.26B
Short-Term Borrowings	444M	365M	186M	275M	317M
Current Portion of Long-Term Debt	2.27B	2.33B	958M	1.04B	1.61B
Current Portion of Leases	4.23M	2.51M	6.77M	7.16M	9.74M
Current Income Taxes Payable	183M	277M	216M	237M	194M
Unearned Revenue, Current	62.72M	226M	154M	214M	250M
Other Current Liabilities - (Bank / Utility Template)	1.34B	1.5B	630M	353M	3.02B
Total Current Liabilities	6.76B	7.19B	5.09B	4.69B	7.94B
Long-Term Debt	18.34B	18.86B	24.45B	23.2B	24.45B
Long-Term Leases	31.14M	48.62M	38.99M	63.15M	67.41M
Unearned Revenue Non Current	176M	63.3M	54.33M	90.65M	140M
Pension & Other Post Retirement Benefits	160M	179M	196M	191M	211M
Deferred Tax Liability Non-Current	251M	126M	120M	214M	163M
Other Non Current Liabilities, Total	1.42B	2.45B	1.44B	827M	1.34B
Total Liabilities	27.14B	28.92B	31.39B	29.27B	34.31B
Common Stock, Total	6.43B	6.43B	7.13B	7.13B	7.13B
Additional Paid In Capital	1.18B	1.41B	5.34B	5.34B	5.34B
Retained Earnings	3.66B	1.83B	2.59B	3.56B	4.62B
Comprehensive Income and Other	-1.36B	-2.8B	-1.57B	2.63B	2.07B
Total Common Equity	9.9B	6.87B	13.48B	18.66B	19.16B
Minority Interest	704M	531M	836M	1.37B	1.55B
Total Equity	10.61B	7.4B	14.32B	20.03B	20.71B
Total Liabilities And Equity	37.75B	36.32B	45.71B	49.3B	55.02B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	647M	647M	733M	733M	733M
ECS Total Common Shares Outstanding	647M	647M	733M	733M	733M
Book Value / Share	15.3	10.62	18.41	25.47	26.15
Tangible Book Value	7.9B	4.81B	11.49B	16.63B	17.11B
Tangible Book Value Per Share	12.2	7.43	15.68	22.7	23.36
Total Debt	21.09B	21.61B	25.64B	24.58B	26.46B
Net Debt	18.29B	20.78B	20.47B	18.12B	20.41B
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	704M	531M	836M	1.37B	1.55B
Equity Method Investments, Total	5.29B	5.06B	9.43B	12.62B	15.87B
Account Code - Inventory Valuation	6	6	6	6	3
Inventories - Raw Materials, Total	27.27M	29.29M	25.99M	29.44M	24.53M
Inventories - Work In Process, Total	241M	313M	167M	249M	325M
Inventories - Finished Goods, Total	638K	389K	431K	544K	797K
Inventories - Others	410M	421M	399M	377M	454M
Land - (BS)	1.07B	978M	945M	917M	916M
Machinery, Total	16.37B	15.49B	15.52B	14.88B	14.91B
Full Time Employees	3.43K	3.54K	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	31.66M	28.8M	29.52M	86.2M	145M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.17B	883M	759M	1.54B	1.66B
Depreciation, Depletion & Amortization	313M	557M	608M	453M	447M
Amortization of Goodwill and Intangible Assets - (CF)	-	10.46M	12.85M	13.04M	15.9M
Total Depreciation, Depletion & Amortization	313M	567M	621M	466M	463M
(Gain) Loss On Sale of Asset - (CF)	-829K	-9.59M	7.75M	-23.28M	-9.22M
(Gain) Loss on Sale of Investments - (CF)	-43.83M	-16.17M	2.66M	-5.93M	8.9M
Total Asset Writedown	931M	280M	193M	157M	69.58M
(Income) Loss On Equity Investments - (CF)	-284M	-231M	-226M	-291M	-238M
Stock-Based Compensation (CF)	-	-	280M	-	-
Change in Accounts Receivable	-545M	-289M	-72.95M	-477M	-560M
Change In Inventories	21.34M	-12.5M	12.28M	-28.95M	-80.1M
Change in Accounts Payable	-1.09B	-220M	260M	-218M	200M
Change in Unearned Revenues	120M	-66.52M	-8.97M	36.32M	49.1M
Change in Other Net Operating Assets (Collected)	106M	-285M	839M	641M	532M
Other Operating Activities	209M	1.26B	1.19B	1.12B	1.26B
Net Cash From Discontinued Operations	375M	45.71M	-	-665K	-9.93M
Cash from Operations	1.29B	1.91B	3.86B	2.91B	3.34B
Capital Expenditure	-2.05B	-1.46B	-2.05B	-1.56B	-3.68B
Sale of Property, Plant, and Equipment	3.43M	148M	21.92M	26.98M	58.15M
Cash Acquisitions	-482M	-	-	-	-
Divestitures	-195M	-	-	49.74M	-713M
Investment in Marketable and Equity Securities, Total	-148M	-74.72M	-3.95B	-758M	-4.3B
Net (Increase) Decrease in Loans Originated / Sold - Investing	307M	-	-	-	-
Other Investing Activities, Total	-	-	52.4M	-118M	231M
Cash from Investing	-2.56B	-1.38B	-5.92B	-2.36B	-8.41B
Long-Term Debt Issued, Total	703M	47.42M	9.8B	6.02B	6.69B
Total Debt Issued	703M	47.42M	9.8B	6.02B	6.69B
Long-Term Debt Repaid, Total	-546M	-369M	-5.91B	-4.04B	-828M
Total Debt Repaid	-546M	-369M	-5.91B	-4.04B	-828M
Issuance of Common Stock	-	-	4.78B	-	-
Common Dividends Paid	-339M	-1.08B	-801M	-626M	-607M
Common & Preferred Stock Dividends Paid	-339M	-1.08B	-801M	-626M	-607M
Other Financing Activities, Total	-1.25B	-1.09B	-1.46B	-930M	-1.49B
Cash from Financing	-1.43B	-2.49B	6.4B	426M	3.76B
Foreign Exchange Rate Adjustments	-	-	-	6.3M	-7.91M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-100M
Net Change in Cash	-2.7B	-1.97B	4.34B	982M	-1.41B
Supplemental Items
Cash Interest Paid	1.23B	1.09B	1.07B	1.28B	1.58B
Net Debt Issued / Repaid	157M	-321M	3.89B	1.98B	5.86B
Levered Free Cash Flow	-2.26B	324M	-1.26B	-1.63B	-3.09B
Unlevered Free Cash Flow	-1.74B	954M	-610M	-893M	-2.18B
Change In Net Working Capital	984M	-747M	503M	1.21B	471M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.63	2.96	2.55	2.97	2.91
Return on Total Capital	3.13	3.61	3.03	3.34	3.29
Return On Equity %	3	9.8	6.85	7.33	8.75
Return on Common Equity	6.32	10.29	7.46	8.23	8.84
Margin Analysis
Gross Profit Margin %	53.11	52.26	54.01	54.27	57.3
SG&A Margin	16.47	16.87	17.46	19.49	20.25
EBITDA Margin %	45.18	47.9	42.47	51.36	46.93
EBITA Margin %	37.87	36.56	31.42	43.02	39.89
EBIT Margin %	37.87	36.35	31.18	42.78	39.63
Income From Continuing Operations Margin %	7.92	18.28	13.88	23.85	29.23
Net Income Margin %	28.53	18.28	14.15	29.19	27.26
Net Avail. For Common Margin %	15.06	17.87	14.15	25.06	27.43
Normalized Net Income Margin	23.2	12.2	10.45	20.84	15.78
Levered Free Cash Flow Margin	-54.87	6.72	-23.43	-30.93	-50.69
Unlevered Free Cash Flow Margin	-42.35	19.75	-11.37	-16.93	-35.77
Asset Turnover
Asset Turnover	0.11	0.13	0.13	0.11	0.12
Fixed Assets Turnover	0.39	0.39	0.44	0.48	0.59
Receivables Turnover (Average Receivables)	2.8	3.07	3.15	2.83	3.21
Inventory Turnover (Average Inventory)	3.23	3.2	3.71	3.87	3.57
Short Term Liquidity
Current Ratio	1.13	0.75	1.9	2.47	1.8
Quick Ratio	0.72	0.45	1.52	2.02	1.19
Operating Cash Flow to Current Liabilities	0.19	0.27	0.76	0.62	0.42
Days Sales Outstanding (Average Receivables)	130.5	119.13	115.82	129.14	113.58
Days Outstanding Inventory (Average Inventory)	112.93	114.53	98.5	94.41	102.37
Average Days Payable Outstanding	272.08	217.84	208.98	178.58	160.84
Cash Conversion Cycle (Average Days)	-28.65	15.82	5.34	44.97	55.11
Long Term Solvency
Total Debt/Equity	198.88	292.07	179.06	122.73	127.75
Total Debt / Total Capital	66.54	74.49	64.17	55.1	56.09
LT Debt/Equity	173.24	255.58	171.02	116.13	118.38
Long-Term Debt / Total Capital	57.96	65.19	61.28	52.14	51.98
Total Liabilities / Total Assets	71.9	79.63	68.67	59.38	62.36
EBIT / Interest Expense	1.89	1.74	1.62	1.91	1.66
EBITDA / Interest Expense	2.27	2.31	2.22	2.3	1.98
(EBITDA - Capex) / Interest Expense	-0.21	0.86	0.23	0.98	-0.55
Total Debt / EBITDA	11.27	9.31	11.19	9.03	9.19
Net Debt / EBITDA	9.77	8.95	8.93	6.66	7.09
Total Debt / (EBITDA - Capex)	-121.15	24.99	106.7	21.19	-32.93
Net Debt / (EBITDA - Capex)	-105.08	24.03	85.18	15.62	-25.4
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	15.78	17.35	11.01	0.77	15.52
Gross Profit, 1 Yr. Growth %	41.67	15.48	14.73	0.57	21.99
EBITDA, 1 Yr. Growth %	47.46	24.4	-1.58	18.34	19.56
EBITA, 1 Yr. Growth %	62.93	13.31	-4.61	33.73	24.52
EBIT, 1 Yr. Growth %