Income Statement Palms Sports

Stocks

PALMS

AEP000201019

Professional & Business Education

Delayed Abu Dhabi Securities Exchange 13:55:00 16/09/2026 +03			5-day change	1st Jan Change
7.900 ^AED	-3.54%		-3.66%	-2.47%

09-14	Palms Sports Bags School Sports Program Renewal Contract in UAE	MT
07-22	Palms Sports' H1 Net Profit Falls; Revenue Up	MT

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Published financial data: PALMS SPORTS

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (AED)	2022 (AED)	2023 (AED)	2024 (AED)	2025 (AED)
Revenues	270M	302M	577M	1.05B	1.16B
Total Revenues	270M	302M	577M	1.05B	1.16B
Cost of Goods Sold, Total	177M	203M	439M	848M	943M
Gross Profit	93.47M	98.37M	138M	203M	219M
Selling General & Admin Expenses, Total	13.44M	19.38M	26.6M	45.99M	55.92M
Provision for Bad Debts	-	-1.66M	-6.11M	-574K	-413K
Depreciation & Amortization - (IS)	-	365K	4.41M	18.64M	19.66M
Other Operating Expenses, Total	13.44M	18.08M	24.9M	64.05M	75.16M
Operating Income	80.03M	80.29M	113M	139M	144M
Interest Expense, Total	-985K	-1.25M	-4.69M	-16.37M	-12.21M
Interest And Investment Income	276K	3.11M	8.12M	7.85M	6.94M
Net Interest Expenses	-710K	1.86M	3.43M	-8.52M	-5.27M
Income (Loss) On Equity Invest.	-	-335K	-475K	377K	3.41M
Other Non Operating Income (Expenses)	12.51M	833K	3.54M	9.91M	3.15M
EBT, Excl. Unusual Items	91.84M	82.65M	120M	141M	145M
Impairment of Goodwill	-	-	-	-	-2.72M
Gain (Loss) On Sale Of Investments	-	51.9M	-15.08M	-19.13M	-10.86M
Asset Writedown	-	-	-	-	-71.11K
Other Unusual Items	-	-1.67M	670K	-	-
EBT, Incl. Unusual Items	91.84M	133M	105M	122M	131M
Income Tax Expense	-	-	19.94K	12.34M	16.91M
Earnings From Continuing Operations	91.84M	133M	105M	109M	114M
Net Income to Company	91.84M	133M	105M	109M	114M
Minority Interest	-	375K	242K	431K	1.16M
Net Income - (IS)	91.84M	133M	105M	110M	116M
Net Income to Common Incl Extra Items	91.84M	133M	105M	110M	116M
Net Income to Common Excl. Extra Items	91.84M	133M	105M	110M	116M
Per Share Items
Net EPS - Basic	0.61	0.89	0.7	0.73	0.77
Basic EPS - Continuing Operations	0.61	0.89	0.7	0.73	0.77
Basic Weighted Average Shares Outstanding	150M	150M	150M	150M	150M
Net EPS - Diluted	0.61	0.89	0.7	0.73	0.77
Diluted EPS - Continuing Operations	0.61	0.89	0.7	0.73	0.77
Diluted Weighted Average Shares Outstanding	150M	150M	150M	150M	150M
Normalized Basic EPS	0.38	0.35	0.5	0.59	0.61
Normalized Diluted EPS	0.38	0.35	0.5	0.59	0.61
Dividend Per Share	-	-	0.67	0.33	0.57
Payout Ratio	-	-	-	91.23	43.24
Supplemental Items
EBITDA	80.32M	80.66M	117M	154M	158M
EBITA	80.03M	80.41M	116M	145M	150M
EBIT	80.03M	80.29M	113M	139M	144M
EBITDAR	81.1M	81.48M	119M	156M	162M
Effective Tax Rate - (Ratio)	-	-	0.02	10.16	12.87
Total Current Taxes	-	-	-	13.72M	17.63M
Total Deferred Taxes	-	-	-	-1.38M	-718K
Normalized Net Income	57.4M	52.03M	74.95M	88.34M	91.8M
Interest on Long-Term Debt	41.8K	-	184K	607K	672K
Non-Cash Pension Expense	5.71M	6.2M	10.8M	25.31M	27.4M
Supplemental Operating Expense Items
Marketing Expenses	-	1.37M	548K	2.79M	1.65M
Selling and Marketing Expenses	-	3.08M	548K	2.79M	1.65M
General and Administrative Expenses	12.66M	5.81M	10.25M	15.72M	14.79M
Net Rental Expense, Total	776K	829K	1.1M	1.87M	3.24M
Imputed Operating Lease Interest Expense	10.77M	22.52M	525K	1.21M	1.7M
Imputed Operating Lease Depreciation	-9.99M	-21.69M	572K	661K	1.54M
Maintenance & Repair Expenses, Total	-	-	-	1.2M	1.12M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Total Stock-Based Compensation	-	-	-	-	-

Fiscal Period: December	2021 (AED)	2022 (AED)	2023 (AED)	2024 (AED)	2025 (AED)
Assets
Cash And Equivalents	194M	224M	285M	306M	194M
Trading Asset Securities, Total	33.37M	111M	94.25M	77.74M	66.88M
Total Cash And Short Term Investments	227M	335M	379M	384M	261M
Accounts Receivable, Total	108M	117M	277M	331M	422M
Other Receivables	20.31M	28.74M	74.78M	107M	76.52M
Notes Receivable	-	-	5.7M	4.3M	34.2M
Total Receivables	128M	146M	357M	442M	532M
Inventory	767K	5.49M	6.56M	6.8M	5.42M
Prepaid Expenses	1.62M	6.84M	31.2M	46.62M	48.95M
Other Current Assets, Total	1.47M	2.22M	3.73M	3.05M	17.14M
Total Current Assets	359M	495M	778M	882M	865M
Gross Property Plant And Equipment	3.07M	3.91M	86.69M	206M	210M
Accumulated Depreciation	-2.13M	-3.4M	-32.54M	-99.69M	-107M
Net Property Plant And Equipment	946K	517K	54.15M	106M	103M
Long-term Investments	16.12M	33.63M	35.68M	34.19M	36.69M
Goodwill	-	2.72M	18.68M	19.62M	17.66M
Other Intangibles, Total	77	411K	68.77M	62.63M	56.93M
Other Long-Term Assets, Total	-	-	5.84M	7.01M	5.45M
Total Assets	376M	533M	961M	1.11B	1.09B
Liabilities
Accounts Payable, Total	517K	5.85M	24.07M	25.26M	36.71M
Accrued Expenses, Total	17.14M	23.55M	79.21M	87.8M	88.48M
Short-term Borrowings	-	195K	-	-	-
Current Portion of Long-Term Debt	-	-	30M	78.91M	41.67M
Current Portion of Leases	62.28K	-	1.88M	3.5M	3.77M
Current Income Taxes Payable	-	-	-	13.72M	17.56M
Unearned Revenue Current, Total	-	-	3.12M	16.72M	24.17M
Other Current Liabilities	67.02K	3.62M	11.75M	13.98M	12.76M
Total Current Liabilities	17.79M	33.22M	150M	240M	225M
Long-Term Debt	-	-	120M	157M	71.67M
Long-Term Leases	477K	-	4.78M	8.73M	6.88M
Pension & Other Post Retirement Benefits	28.71M	33.39M	108M	126M	140M
Deferred Tax Liability Non Current	-	-	6.41M	4.64M	3.75M
Total Liabilities	46.98M	66.61M	389M	536M	447M
Common Stock, Total	150M	150M	150M	150M	150M
Additional Paid In Capital	-	-	209K	-	-
Retained Earnings	177M	310M	416M	425M	491M
Comprehensive Income and Other	2.12M	5.04M	5.11M	-153K	-2.41M
Total Common Equity	329M	465M	571M	575M	639M
Minority Interest	-	648K	406K	238K	-679K
Total Equity	329M	466M	571M	575M	638M
Total Liabilities And Equity	376M	533M	961M	1.11B	1.09B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	150M	150M	150M	150M	150M
ECS Total Common Shares Outstanding	150M	150M	150M	150M	150M
Book Value / Share	2.19	3.1	3.81	3.83	4.26
Tangible Book Value	329M	462M	484M	493M	564M
Tangible Book Value Per Share	2.19	3.08	3.22	3.29	3.76
Total Debt	539K	195K	157M	248M	124M
Net Debt	-227M	-335M	-222M	-135M	-137M
Debt Equivalent Oper. Leases	6.21M	6.63M	8.77M	14.97M	25.89M
Minority Interest, Total (Incl. Fin. Div)	-	648K	406K	238K	-679K
Equity Method Investments, Total	-	5.46M	4.98M	5.36M	8.91M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	-	-	-	-	-
Inventories - Finished Goods, Total	978K	6.11M	7.23M	7.66M	6.87M
Buildings, Total	-	-	62.1M	151M	151M
Machinery, Total	2.49M	3.91M	18.44M	38.03M	42.73M
Accumulated Allowance for Doubtful Accounts (Supple)	8.01M	6.52M	25.19M	24.62M	22.04M

Fiscal Period: December	2021 (AED)	2022 (AED)	2023 (AED)	2024 (AED)	2025 (AED)
Net Income	91.84M	133M	105M	110M	116M
Depreciation & Amortization - CF	366K	296K	2.47M	13.21M	13.64M
Amortization of Goodwill and Intangible Assets - (CF)	-	116K	2.63M	6.14M	6.07M
Depreciation & Amortization, Total	366K	411K	5.1M	19.35M	19.7M
Amortization of Deferred Charges, Total - (CF)	12.71K	77	-	-	108K
(Gain) Loss From Sale Of Asset	-	-73.14K	-2.96K	-72.45K	-118K
(Gain) Loss on Sale of Investments - (CF)	-12.51M	-51.9M	15.08M	19.13M	10.71M
Asset Writedown & Restructuring Costs	-	-	-	-	2.79M
(Income) Loss On Equity Investments - (CF)	-	335K	475K	-377K	-3.41M
Stock-Based Compensation (CF)	-	-	-	-	-
Provision and Write-off of Bad Debts	1.45M	-1.66M	-6.11M	-574K	-413K
Other Operating Activities, Total	2.43M	898K	-906K	19.27M	10.95M
Change In Accounts Receivable	27.39M	-13.45M	55.67M	-63.32M	-112M
Change In Inventories	238K	-488K	-1.12M	-431K	793K
Change In Accounts Payable	-2.17M	7.3M	1.15M	2.41M	13.67M
Change in Other Net Operating Assets	-38.85K	-1.9M	-31.66M	-25.4M	41.83M
Cash from Operations	109M	72.73M	143M	79.6M	99.98M
Capital Expenditure	-21.63K	-456K	-439K	-2.05M	-7.68M
Sale of Property, Plant, and Equipment	-	142K	2.96K	161K	215K
Cash Acquisitions	-	-3.93M	-233M	272K	-1M
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-121M	-61.33M	8.76M	83.88M	14.78M
Other Investing Activities, Total	276K	2.79M	5.77M	5.8M	4.5M
Cash from Investing	-121M	-62.78M	-219M	88.07M	10.81M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	-	150M	90M	-
Total Debt Issued	-	-	150M	90M	-
Short Term Debt Repaid, Total	-	-389K	-	-	-
Long-Term Debt Repaid, Total	-100K	-	-302K	-48.38M	-128M
Total Debt Repaid	-100K	-389K	-302K	-48.38M	-128M
Common Dividends Paid	-	-	-	-100M	-50M
Common & Preferred Stock Dividends Paid	-	-	-	-100M	-50M
Other Financing Activities, Total	-	-	-5.7M	-	-29.9M
Cash from Financing	-100K	-389K	144M	-58.39M	-208M
Net Change in Cash	-11.65M	9.56M	67.94M	109M	-97.17M
Supplemental Items
Cash Interest Paid	944K	1.25M	4.5M	15.76M	11.54M
Cash Income Tax Paid (Refund)	-	-	-	-	3.42M
Levered Free Cash Flow	76.52M	36.26M	-81.65M	33.82M	10.93M
Unlevered Free Cash Flow	77.14M	37.04M	-78.72M	44.05M	18.56M
Change In Net Working Capital	-26.76M	13.1M	154M	60.06M	83.4M
Net Debt Issued / Repaid	-100K	-389K	150M	41.62M	-128M

Fiscal Period: December	2021 (AED)	2022 (AED)	2023 (AED)	2024 (AED)	2025 (AED)
Profitability
Return on Assets	15.21	11.04	9.46	8.38	8.18
Return on Total Capital	17.69	12.61	11.83	11.19	11.33
Return On Equity %	32.53	33.42	20.26	19.04	18.87
Return on Common Equity	32.53	33.54	20.33	19.13	19.05
Margin Analysis
Gross Profit Margin %	34.58	32.59	23.93	19.31	18.84
SG&A Margin	4.97	6.42	4.61	4.38	4.81
EBITDA Margin %	29.71	26.72	20.38	14.64	13.64
EBITA Margin %	29.61	26.64	20.06	13.8	12.89
EBIT Margin %	29.61	26.6	19.61	13.21	12.37
Income From Continuing Operations Margin %	33.97	44.02	18.23	10.39	9.85
Net Income Margin %	33.97	44.15	18.27	10.43	9.95
Net Avail. For Common Margin %	33.97	44.15	18.27	10.43	9.95
Normalized Net Income Margin	21.23	17.24	13	8.4	7.9
Levered Free Cash Flow Margin	28.31	12.01	-14.16	3.22	0.94
Unlevered Free Cash Flow Margin	28.53	12.27	-13.66	4.19	1.6
Asset Turnover
Asset Turnover	0.82	0.66	0.77	1.01	1.06
Fixed Assets Turnover	241.7	412.47	21.09	13.11	11.11
Receivables Turnover (Average Receivables)	2.21	2.69	2.93	3.46	3.09
Inventory Turnover (Average Inventory)	209.59	65	72.77	127.02	154.38
Short Term Liquidity
Current Ratio	20.19	14.92	5.18	3.68	3.84
Quick Ratio	19.97	14.48	4.87	3.42	3.37
Operating Cash Flow to Current Liabilities	6.13	2.19	0.95	0.33	0.44
Days Sales Outstanding (Average Receivables)	165.22	135.63	124.65	105.81	118.19
Days Outstanding Inventory (Average Inventory)	1.74	5.62	5.02	2.88	2.36
Average Days Payable Outstanding	1.53	5.58	12.42	10.64	12.01
Cash Conversion Cycle (Average Days)	165.42	135.66	117.25	98.06	108.54
Long Term Solvency
Total Debt/Equity	0.16	0.04	27.41	43.18	19.44
Total Debt / Total Capital	0.16	0.04	21.52	30.16	16.27
LT Debt/Equity	0.14	-	21.84	28.86	12.31
Long-Term Debt / Total Capital	0.14	-	17.14	20.16	10.31
Total Liabilities / Total Assets	12.49	12.5	40.53	48.25	41.21
EBIT / Interest Expense	81.22	64.39	24.1	8.48	11.77
EBITDA / Interest Expense	81.59	64.72	25.19	9.67	13.38
(EBITDA - Capex) / Interest Expense	81.57	64.35	25.1	9.54	12.75
Total Debt / EBITDA	0.01	0	1.33	1.57	0.76
Net Debt / EBITDA	-2.82	-4.15	-1.88	-0.86	-0.84
Total Debt / (EBITDA - Capex)	0.01	0	1.33	1.59	0.8
Net Debt / (EBITDA - Capex)	-2.82	-4.18	-1.89	-0.87	-0.88
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-7.15	11.66	90.98	82.32	10.55
Gross Profit, 1 Yr. Growth %	-14.41	5.25	40.21	47.29	7.87
EBITDA, 1 Yr. Growth %	0.72	0.41	43.57	31.01	2.99
EBITA, 1 Yr. Growth %	0.69	0.46	41.8	25.39	3.3
EBIT, 1 Yr. Growth %	0.69	0.32	38.78	22.87	3.49
Earnings From Cont. Operations, 1 Yr. Growth %	10.6	44.69	-20.91	3.89	4.84
Net Income, 1 Yr. Growth %	10.6	45.1	-20.95	4.06	5.49
Normalized Net Income, 1 Yr. Growth %	10.6	4.95	44.04	17.88	3.91
Diluted EPS Before Extra, 1 Yr. Growth %	10.6	45.1	-20.95	4.06	5.49
Accounts Receivable, 1 Yr. Growth %	-21.62	8.62	137.14	19.43	27.48
Inventory, 1 Yr. Growth %	-16.64	616.1	19.39	3.59	-20.2
Net Property, Plant and Equip., 1 Yr. Growth %	-26.65	-45.35	10.37K	96.08	-2.96
Total Assets, 1 Yr. Growth %	33.56	41.59	80.38	15.72	-2.41
Tangible Book Value, 1 Yr. Growth %	39.94	40.41	4.61	1.93	14.41
Common Equity, 1 Yr. Growth %	39.93	41.36	22.69	0.72	11.02
Cash From Operations, 1 Yr. Growth %	1.67K	-33.28	96.63	-44.33	25.59
Capital Expenditures, 1 Yr. Growth %	-93.17	2.01K	-3.74	365.84	275.5
Levered Free Cash Flow, 1 Yr. Growth %	101.84	-52.62	-323.26	-141.42	-67.68
Unlevered Free Cash Flow, 1 Yr. Growth %	100.14	-51.99	-306.74	-155.96	-57.86
Dividend Per Share, 1 Yr. Growth %	-	-	-	-50.03	70.01
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-6.43	1.82	46.03	86.6	41.97
Gross Profit, 2 Yr. CAGR %	-7.03	-5.09	21.48	43.63	26.05
EBITDA, 2 Yr. CAGR %	5.15	0.56	20.93	37.14	16.16
EBITA, 2 Yr. CAGR %	5.14	0.58	20.21	33.34	13.81
EBIT, 2 Yr. CAGR %	5.14	0.5	18.84	30.58	12.77
Earnings From Cont. Operations, 2 Yr. CAGR %	9.42	26.5	6.97	-9.36	4.36
Net Income, 2 Yr. CAGR %	9.42	26.68	7.1	-9.31	4.77
Normalized Net Income, 2 Yr. CAGR %	9.42	0.13	22.95	30.3	10.67
Diluted EPS Before Extra, 2 Yr. CAGR %	-57.06	26.68	7.1	-9.31	4.77
Accounts Receivable, 2 Yr. CAGR %	46.88	-7.73	60.49	68.29	23.39
Inventory, 2 Yr. CAGR %	-8.14	144.32	192.39	11.21	-9.08
Net Property, Plant and Equip., 2 Yr. CAGR %	-15.07	-36.69	656.37	1.33K	37.94
Total Assets, 2 Yr. CAGR %	10.1	37.51	59.81	44.48	6.27
Tangible Book Value, 2 Yr. CAGR %	18.01	40.18	21.19	3.26	7.99
Common Equity, 2 Yr. CAGR %	18.01	40.64	31.7	11.17	5.75
Cash From Operations, 2 Yr. CAGR %	132.93	244.04	14.54	4.62	-16.39
Capital Expenditures, 2 Yr. CAGR %	-75.93	20.03	350.65	111.75	318.24
Levered Free Cash Flow, 2 Yr. CAGR %	-3.64	-2.21	3.3	-3.84	-63.41
Unlevered Free Cash Flow, 2 Yr. CAGR %	-2.94	-1.97	1.02	7.56	-51.44
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	-7.82
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-3.56	-0.75	25.57	57.25	56.72
Gross Profit, 3 Yr. CAGR %	-7.82	-3.1	8.1	29.49	30.55
EBITDA, 3 Yr. CAGR %	1.54	3.54	13.78	24.2	24.66
EBITA, 3 Yr. CAGR %	1.56	3.56	13.32	21.92	22.46
EBIT, 3 Yr. CAGR %	1.56	3.51	12.45	20.17	20.84
Earnings From Cont. Operations, 3 Yr. CAGR %	6.37	20.1	8.17	5.94	-4.85
Net Income, 3 Yr. CAGR %	6.37	20.22	8.25	6.08	-4.62
Normalized Net Income, 3 Yr. CAGR %	6.18	2.77	13.03	21.23	20.83
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-35.56	8.25	6.08	-4.62
Accounts Receivable, 3 Yr. CAGR %	60.94	32.82	26.39	45.44	53.41
Inventory, 3 Yr. CAGR %	-20.4	82.14	92.44	106.9	-0.44
Net Property, Plant and Equip., 3 Yr. CAGR %	21.6	-26.68	247.5	382.28	484.01
Total Assets, 3 Yr. CAGR %	9.07	19.73	50.53	43.51	26.76
Tangible Book Value, 3 Yr. CAGR %	14.44	25.05	27.14	14.4	6.85
Common Equity, 3 Yr. CAGR %	14.43	25.33	34.39	20.44	11.12
Cash From Operations, 3 Yr. CAGR %	9.09	53.54	185.51	-9.95	11.19
Capital Expenditures, 3 Yr. CAGR %	-50.36	6.92	11.51	355.65	156.31
Levered Free Cash Flow, 3 Yr. CAGR %	15.35	-23.94	29.14	-23.83	-33.14
Unlevered Free Cash Flow, 3 Yr. CAGR %	15.13	-23.24	26.88	-17.04	-21.3
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	0.77	13.85	27.77	31.89
Gross Profit, 5 Yr. CAGR %	-	-1.93	2.94	13.42	14.92
EBITDA, 5 Yr. CAGR %	-	2.48	8.89	16.2	14.72
EBITA, 5 Yr. CAGR %	-	2.51	8.64	14.91	13.51
EBIT, 5 Yr. CAGR %	-	2.48	8.15	13.92	12.58
Earnings From Cont. Operations, 5 Yr. CAGR %	-	13.27	6.61	7.32	6.63
Net Income, 5 Yr. CAGR %	-	13.33	6.66	7.4	6.85
Normalized Net Income, 5 Yr. CAGR %	-	3.15	9.34	13	12.08
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-26.12	6.85
Accounts Receivable, 5 Yr. CAGR %	-	37.59	60.76	46.01	25.18
Inventory, 5 Yr. CAGR %	-	43.77	33.95	49.52	42.57
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-13.88	152.61	140.77	140.13
Total Assets, 5 Yr. CAGR %	-	15.25	27.07	29.07	30.96
Tangible Book Value, 5 Yr. CAGR %	-	17.86	17.09	15.83	19.11
Common Equity, 5 Yr. CAGR %	-	18	21.05	19.46	22.1
Cash From Operations, 5 Yr. CAGR %	-	-17.57	11.24	31.7	74.7
Capital Expenditures, 5 Yr. CAGR %	-	-10.35	19.96	40.53	89.22
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	10.37	-16.32	-22.02
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	9.26	-11.66	-13.59