Cash flow Keel Infrastructure Corp. Toronto S.E.

Equities

KEEL

US4869171078

Blockchain & Cryptocurrency

Market Closed - Toronto S.E. Other stock markets 21:00:00 05/06/2026 BST			5-day change	1st Jan Change
7.130 ^CAD	-13.47%		-9.17%	+120.74%

06-05	Keel Infrastructure Down 7.9% in U.S. Pre-Market Trade After Pricing Upsized $400 Million of Convertible Senior Notes	MT
06-05	Keel Infrastructure Prices Upsized $400 Million Senior Notes Offering	MT

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Published financial data: KEEL INFRASTRUCTURE CORP.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	169M	142M	146M	193M	229M
Total Revenues	169M	142M	146M	193M	229M
Cost of Goods Sold, Total	58.37M	132M	168M	225M	248M
Gross Profit	111M	10.52M	-21.5M	-32.36M	-18.9M
Selling General & Admin Expenses, Total	43.24M	51.51M	39.29M	71.24M	78.34M
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	43.24M	51.51M	39.29M	71.24M	78.34M
Operating Income	67.88M	-40.99M	-60.79M	-104M	-97.24M
Interest Expense, Total	-3.42M	-14.22M	-4.08M	-1.74M	-14.47M
Interest And Investment Income	-	-	1.42M	6.04M	6.29M
Net Interest Expenses	-3.42M	-14.22M	-2.66M	4.3M	-8.18M
Currency Exchange Gains (Loss)	-647K	-2.94M	-7.84M	-1.48M	-422K
Other Non Operating Income (Expenses)	-28.24M	-156M	-44.19M	34.08M	-50.21M
EBT, Excl. Unusual Items	35.58M	-214M	-115M	-66.7M	-156M
Impairment of Goodwill	-	-17.9M	-	-	-
Gain (Loss) On Sale Of Investments	6.15M	51.65M	12.24M	2.31M	-
Gain (Loss) On Sale Of Assets	848K	-1.28M	-14.03M	-336K	26.61M
Asset Writedown	60K	-75.21M	-	-3.63M	-78.96M
Other Unusual Items	-	-	12.84M	-	-
EBT, Incl. Unusual Items	42.64M	-256M	-104M	-68.35M	-208M
Income Tax Expense	20.51M	-17.41M	-401K	-14.29M	101K
Earnings From Continuing Operations	22.13M	-239M	-104M	-54.06M	-209M
Earnings Of Discontinued Operations	-	-	-	-	-76.03M
Net Income to Company	22.13M	-239M	-104M	-54.06M	-285M
Minority Interest	-	-	-	-	-
Net Income - (IS)	22.13M	-239M	-104M	-54.06M	-285M
Net Income to Common Incl Extra Items	22.13M	-239M	-104M	-54.06M	-285M
Net Income to Common Excl. Extra Items	22.13M	-239M	-104M	-54.06M	-209M
Per Share Items
Net EPS - Basic	0.14	-1.15	-0.4	-0.13	-0.52
Basic EPS - Continuing Operations	0.14	-1.15	-0.4	-0.13	-0.38
Basic Weighted Average Shares Outstanding	158M	208M	262M	415M	552M
Net EPS - Diluted	0.13	-1.15	-0.4	-0.13	-0.52
Diluted EPS - Continuing Operations	0.13	-1.15	-0.4	-0.13	-0.38
Diluted Weighted Average Shares Outstanding	169M	208M	262M	415M	552M
Normalized Basic EPS	0.14	-0.64	-0.28	-0.1	-0.18
Normalized Diluted EPS	0.13	-0.64	-0.28	-0.1	-0.18
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	90.69M	27.36M	20.77M	34.23M	24.4M
EBITA	67.88M	-40.99M	-60.68M	-103M	-96.53M
EBIT	67.88M	-40.99M	-60.79M	-104M	-97.24M
EBITDAR	-	-	-	-	28.6M
Effective Tax Rate - (Ratio)	48.1	6.79	0.38	20.91	-0.05
Current Domestic Taxes	-	-	-	-	-67K
Current Foreign Taxes	-	-	-	-	168K
Total Current Taxes	11.66M	-8.96M	2.93M	-250K	101K
Total Deferred Taxes	8.84M	-8.45M	-3.33M	-14.04M	-
Normalized Net Income	22.24M	-134M	-72.18M	-41.69M	-97.54M
Interest on Long-Term Debt	3.42M	8.76M	4.08M	1.74M	7.84M
Supplemental Operating Expense Items
Advertising Expense	174K	333K	491K	721K	1.74M
Selling and Marketing Expenses	174K	333K	491K	721K	1.74M
General and Administrative Expenses	43.06M	32.4M	18.92M	36.44M	35.93M
Net Rental Expense, Total	-	-	-	-	4.2M
Imputed Operating Lease Interest Expense	-	-	-	-	1.38M
Imputed Operating Lease Depreciation	-	-	-	-	2.83M
Stock-Based Comp., G&A Exp. (Total)	-	21.79M	10.92M	13.95M	14.77M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	22.58M	-	-	-	216K
Total Stock-Based Compensation	22.58M	21.79M	10.92M	13.95M	14.98M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	126M	30.89M	84.04M	59.54M	573M
Total Cash And Short Term Investments	126M	30.89M	84.04M	59.54M	573M
Accounts Receivable, Total	1.04M	701K	714K	1.26M	5.47M
Other Receivables	2.68M	16.07M	1.49M	7.71M	2.82M
Total Receivables	3.72M	16.77M	2.21M	8.97M	8.3M
Inventory	548K	588K	705K	1.18M	8.68M
Prepaid Expenses	3.2M	-	-	-	-
Other Current Assets, Total	154M	20.85M	43.03M	144M	236M
Total Current Assets	287M	69.09M	130M	214M	826M
Gross Property Plant And Equipment	186M	384M	427M	544M	561M
Accumulated Depreciation	-39.68M	-149M	-227M	-173M	-190M
Net Property Plant And Equipment	146M	236M	200M	372M	372M
Long-term Investments	-	-	-	-	1.25M
Goodwill	16.96M	-	-	-	-
Other Intangibles, Total	1.68M	33K	3.7M	4.04M	2.98M
Deferred Tax Assets Long-Term	3.9M	-	-	-	-
Deferred Charges Long-Term	-	-	-	-	1.67M
Other Long-Term Assets, Total	86.68M	38.18M	44.71M	78.32M	92.41M
Total Assets	543M	343M	379M	668M	1.3B
Liabilities
Accounts Payable, Total	9.87M	12.9M	9.08M	21.92M	16.27M
Accrued Expenses, Total	-	-	-	-	18.7M
Short-term Borrowings	60M	-	-	-	-
Current Portion of Long-Term Debt	10.26M	43.05M	4.02M	146K	97.02M
Current Portion of Leases	4.35M	3.65M	2.86M	2.09M	1.72M
Current Income Taxes Payable	12.09M	-	1.11M	-	-
Other Current Liabilities	4.61M	7.64M	52.09M	12.12M	14.39M
Total Current Liabilities	101M	67.24M	69.15M	36.27M	148M
Long-Term Debt	910K	4.09M	-	1.43M	572M
Long-Term Leases	9.23M	14.22M	12.99M	19.75M	12.58M
Deferred Tax Liability Non Current	8.45M	-	-	65K	65K
Other Non Current Liabilities	239K	1.98M	1.82M	2.11M	2.76M
Total Liabilities	120M	87.53M	83.96M	59.62M	736M
Common Stock, Total	379M	429M	530M	852M	1.06B
Additional Paid In Capital	43.7M	65.51M	56.62M	67.52M	108M
Retained Earnings	-15K	-239M	-295M	-335M	-612M
Comprehensive Income and Other	-	-	2.94M	22.7M	-
Total Common Equity	423M	256M	295M	608M	560M
Minority Interest	-	-	-	-	-
Total Equity	423M	256M	295M	608M	560M
Total Liabilities And Equity	543M	343M	379M	668M	1.3B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	201M	238M	339M	554M	603M
ECS Total Common Shares Outstanding	195M	224M	334M	479M	602M
Book Value / Share	2.17	1.14	0.88	1.27	0.93
Tangible Book Value	404M	256M	291M	604M	557M
Tangible Book Value Per Share	2.07	1.14	0.87	1.26	0.93
Total Debt	84.74M	65.01M	19.87M	23.42M	684M
Net Debt	-40.85M	34.12M	-64.17M	-36.13M	110M
Debt Equivalent Oper. Leases	-	-	-	-	33.62M
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Account Code - Inventory Valuation	3	-	-	3	3
Inventories - Raw Materials, Total	548K	588K	705K	1.18M	2.87M
Inventories - Others	-	-	-	-	5.8M
Land - (BS)	4.55M	4.39M	5.74M	34.43M	63.89M
Machinery, Total	157M	309M	356M	427M	470M
Full Time Employees	106	150	170	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	-	37K	51K	47K	66K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	22.13M	-239M	-104M	-54.06M	-285M
Depreciation & Amortization - CF	24.24M	72.31M	84.65M	140M	122M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	113K	561K	711K
Depreciation & Amortization, Total	24.24M	72.31M	84.76M	141M	123M
Amortization of Deferred Charges, Total - (CF)	235K	109K	21K	12K	-
(Gain) Loss From Sale Of Asset	4.3M	-889K	1.78M	3.96M	-5.46M
(Gain) Loss on Sale of Investments - (CF)	0	-51.65M	-12.24M	-2.31M	-
Asset Writedown & Restructuring Costs	-60K	93.11M	12.25M	-	152M
Stock-Based Compensation (CF)	22.58M	21.79M	10.92M	13.95M	14.98M
Other Operating Activities, Total	-126M	144M	28.91M	-234M	-228M
Change In Accounts Receivable	64K	429K	-13K	-545K	-1.5M
Change In Inventories	-379K	-	-	-475K	-4.98M
Change In Accounts Payable	9.24M	94K	-315K	-15.83M	-2.05M
Change In Income Taxes	11.78M	-126K	156K	-178K	-406K
Change in Other Net Operating Assets	-5.32M	-4.38M	1.41M	7.81M	10.05M
Cash from Operations	-37.17M	36.25M	23.6M	-141M	-227M
Capital Expenditure	-193M	-195M	-73.7M	-340M	-126M
Sale of Property, Plant, and Equipment	1.11M	10.5M	3.11M	5.46M	34.56M
Cash Acquisitions	-23M	-	-	-	-48.08M
Divestitures	-	-	-	-	63.04M
Investment in Marketable and Equity Securities, Total	-	51.65M	12.24M	2.31M	-1.26M
Other Investing Activities, Total	-	-22.18M	-	154M	182M
Cash from Investing	-215M	-155M	-58.34M	-178M	104M
Short Term Debt Issued, Total	60M	40M	-	-	-
Long-Term Debt Issued, Total	14.23M	67.2M	-	1.7M	666M
Total Debt Issued	74.23M	107M	-	1.7M	666M
Short Term Debt Repaid, Total	-	-100M	-	-	-
Long-Term Debt Repaid, Total	-24.73M	-37.3M	-34.18M	-6.36M	-1.6M
Total Debt Repaid	-24.73M	-137M	-34.18M	-6.36M	-1.6M
Issuance of Common Stock	322M	54.11M	122M	298M	108M
Repurchase of Common Stock	-	-	-	-	-9.95M
Other Financing Activities, Total	-	-	-	714K	-69.09M
Cash from Financing	372M	24.01M	87.88M	294M	694M
Foreign Exchange Rate Adjustments	-21K	43K	18K	-9K	-8K
Net Change in Cash	120M	-94.71M	53.15M	-24.5M	571M
Supplemental Items
Cash Interest Paid	3.98M	17.72M	12.14M	1.74M	1.26M
Cash Income Tax Paid (Refund)	-	14.96M	-11.59M	1.51M	427K
Levered Free Cash Flow	-245M	-17.98M	15.28M	-387M	-134M
Unlevered Free Cash Flow	-243M	-9.09M	17.82M	-386M	-125M
Change In Net Working Capital	139M	-117M	-33.82M	136M	75.36M
Net Debt Issued / Repaid	49.5M	-30.1M	-34.18M	-4.67M	665M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	14.28	-5.78	-10.53	-12.38	-6.2
Return on Total Capital	15.4	-6.19	-11.97	-13.69	-6.47
Return On Equity %	10.1	-70.5	-37.82	-11.98	-35.6
Return on Common Equity	10.1	-70.5	-37.82	-11.98	-35.6
Margin Analysis
Gross Profit Margin %	65.56	7.38	-14.69	-16.78	-8.24
SG&A Margin	25.51	36.16	26.84	36.93	34.17
EBITDA Margin %	53.51	19.21	14.19	17.75	10.64
EBITA Margin %	40.05	-28.78	-41.46	-53.42	-42.1
EBIT Margin %	40.05	-28.78	-41.54	-53.71	-42.41
Income From Continuing Operations Margin %	13.06	-167.84	-71.08	-28.03	-90.94
Net Income Margin %	13.06	-167.84	-71.08	-28.03	-124.11
Net Avail. For Common Margin %	13.06	-167.84	-71.08	-28.03	-90.94
Normalized Net Income Margin	13.12	-93.78	-49.31	-21.61	-42.54
Levered Free Cash Flow Margin	-144.74	-12.62	10.44	-200.76	-58.3
Unlevered Free Cash Flow Margin	-143.48	-6.38	12.18	-200.2	-54.35
Asset Turnover
Asset Turnover	0.57	0.32	0.41	0.37	0.23
Fixed Assets Turnover	1.81	0.75	0.67	0.67	0.73
Receivables Turnover (Average Receivables)	158.33	163.8	206.88	195.52	68.14
Inventory Turnover (Average Inventory)	162.82	232.24	259.66	238.98	50.58
Short Term Liquidity
Current Ratio	2.84	1.03	1.88	5.89	5.58
Quick Ratio	1.28	0.71	1.25	1.89	3.93
Operating Cash Flow to Current Liabilities	-0.37	0.54	0.34	-3.88	-1.53
Days Sales Outstanding (Average Receivables)	2.3	2.23	1.76	1.87	5.36
Days Outstanding Inventory (Average Inventory)	2.24	1.57	1.41	1.53	7.22
Average Days Payable Outstanding	37.07	31.49	23.87	25.13	17.49
Cash Conversion Cycle (Average Days)	-32.52	-27.69	-20.7	-21.72	-4.91
Long Term Solvency
Total Debt/Equity	20.05	25.44	6.74	3.85	122.02
Total Debt / Total Capital	16.7	20.28	6.32	3.71	54.96
LT Debt/Equity	2.4	7.16	4.41	3.48	104.4
Long-Term Debt / Total Capital	2	5.71	4.13	3.35	47.02
Total Liabilities / Total Assets	22.12	25.51	22.17	8.93	56.77
EBIT / Interest Expense	19.85	-2.88	-14.9	-59.61	-6.72
EBITDA / Interest Expense	26.94	2.2	5.88	21.49	1.98
(EBITDA - Capex) / Interest Expense	-29.57	-11.51	-12.19	-174.05	-6.74
Total Debt / EBITDA	0.92	2.08	0.83	0.63	23.91
Net Debt / EBITDA	-0.44	1.09	-2.68	-0.97	3.86
Total Debt / (EBITDA - Capex)	-0.84	-0.4	-0.4	-0.08	-7.01
Net Debt / (EBITDA - Capex)	0.4	-0.21	1.29	0.12	-1.13
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	388.4	-15.97	2.76	31.78	72.03
Gross Profit, 1 Yr. Growth %	3.77K	-90.53	-304.43	50.49	-54.65
EBITDA, 1 Yr. Growth %	1.8K	-69.83	-24.07	64.79	-56.61
EBITA, 1 Yr. Growth %	-1.36K	-160.38	48.05	69.8	25.03
EBIT, 1 Yr. Growth %	-1.36K	-160.38	48.32	70.41	24.93
Earnings From Cont. Operations, 1 Yr. Growth %	-235.86	-1.18K	-40.77	-50.37	2.73K
Net Income, 1 Yr. Growth %	-235.86	-1.18K	-40.77	-50.37	903.15
Normalized Net Income, 1 Yr. Growth %	-342.45	-700.68	-23.17	-44.59	174.57
Diluted EPS Before Extra, 1 Yr. Growth %	-167.77	-985.01	-52.94	-68.96	1.8K
Accounts Receivable, 1 Yr. Growth %	-5.89	-32.47	1.85	76.33	334.55
Inventory, 1 Yr. Growth %	224.26	7.3	19.9	67.38	663.06
Net Property, Plant and Equip., 1 Yr. Growth %	255.09	61.23	-15.04	85.47	42.45
Total Assets, 1 Yr. Growth %	949.41	-36.77	10.38	76.28	95.49
Tangible Book Value, 1 Yr. Growth %	2.58K	-36.74	13.98	107.5	-8.1
Common Equity, 1 Yr. Growth %	2.64K	-39.52	15.41	106.27	-8.31
Cash From Operations, 1 Yr. Growth %	-614.61	-183.68	-34.9	32.97	59.9
Capital Expenditures, 1 Yr. Growth %	4.21K	0.89	-62.2	361.14	-62.9
Levered Free Cash Flow, 1 Yr. Growth %	-2.99K	-92.67	-185.78	-2.64K	-65.33
Unlevered Free Cash Flow, 1 Yr. Growth %	-2.08K	-96.26	-299.84	-2.27K	-67.63
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	128.64	102.59	-7.07	16.37	38
Gross Profit, 2 Yr. CAGR %	211.68	91.34	-56.01	75.4	-10.77
EBITDA, 2 Yr. CAGR %	259.08	139.24	-52.14	11.86	-1.42
EBITA, 2 Yr. CAGR %	579.31	176.33	-5.45	58.55	29.61
EBIT, 2 Yr. CAGR %	583.04	176.09	-5.36	58.98	29.92
Earnings From Cont. Operations, 2 Yr. CAGR %	224.08	283.09	116.82	-44.52	128.51
Net Income, 2 Yr. CAGR %	176.29	283.09	116.82	-44.52	126.4
Normalized Net Income, 2 Yr. CAGR %	456.42	281.62	80.16	-33.39	60.56
Diluted EPS Before Extra, 2 Yr. CAGR %	80.28	144.9	75.41	-60.84	57.97
Accounts Receivable, 2 Yr. CAGR %	-3.21	-20.28	-17.06	34.02	176.81
Inventory, 2 Yr. CAGR %	101.48	86.53	13.42	41.66	250.8
Net Property, Plant and Equip., 2 Yr. CAGR %	82.3	139.27	17.04	25.53	36.19
Total Assets, 2 Yr. CAGR %	220.4	157.6	-16.45	39.49	85.01
Tangible Book Value, 2 Yr. CAGR %	283.87	311.78	-15.12	53.79	38.38
Common Equity, 2 Yr. CAGR %	287.88	306.75	-16.48	54.29	37.88
Cash From Operations, 2 Yr. CAGR %	148.48	124.02	-26.19	7.15	45.6
Capital Expenditures, 2 Yr. CAGR %	185.09	559.42	-38.25	32.02	30.8
Levered Free Cash Flow, 2 Yr. CAGR %	268.31	45.53	-75.05	366.32	175.87
Unlevered Free Cash Flow, 2 Yr. CAGR %	289.34	-14.05	-72.93	557.97	153.75
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	71.15	63.78	61.57	4.4	17.2
Gross Profit, 3 Yr. CAGR %	116.98	-2.76	95.61	-33.72	21.58
EBITDA, 3 Yr. CAGR %	91.22	57.27	63.19	-27.73	-3.75
EBITA, 3 Yr. CAGR %	219.21	203.17	124.43	14.92	33.05
EBIT, 3 Yr. CAGR %	220.5	204.27	124.44	15.13	33.37
Earnings From Cont. Operations, 3 Yr. CAGR %	6.66	384.11	85.54	34.68	5.88
Net Income, 3 Yr. CAGR %	33.21	335.26	85.54	34.68	17.45
Normalized Net Income, 3 Yr. CAGR %	30.31	470.8	98.91	23.3	1.26
Diluted EPS Before Extra, 3 Yr. CAGR %	-7.55	206.39	27.76	0.1	-23.54
Accounts Receivable, 3 Yr. CAGR %	4.41	-14.15	-13.5	6.65	98.36
Inventory, 3 Yr. CAGR %	86.12	63.31	60.98	29.13	145.27
Net Property, Plant and Equip., 3 Yr. CAGR %	91.39	74.99	69.43	36.45	16.37
Total Assets, 3 Yr. CAGR %	174.5	86.54	94.21	7.16	55.75
Tangible Book Value, 3 Yr. CAGR %	203.64	110.46	168.3	14.35	29.72
Common Equity, 3 Yr. CAGR %	201.34	108.77	167.22	12.89	29.94
Cash From Operations, 3 Yr. CAGR %	39.27	81.93	48.38	48.05	22.78
Capital Expenditures, 3 Yr. CAGR %	103.92	101.65	154.25	20.7	-13.52
Levered Free Cash Flow, 3 Yr. CAGR %	199.54	-0.2	21.63	16.43	95.79
Unlevered Free Cash Flow, 3 Yr. CAGR %	199.1	-17.26	13.15	16.66	140.85
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	22.34	34.06	42.85	45.88
Gross Profit, 5 Yr. CAGR %	-	-24.85	14.6	23.12	45.76
EBITDA, 5 Yr. CAGR %	-	-10	9.88	37.23	38.54
EBITA, 5 Yr. CAGR %	-	-0.18	96.2	133.93	78.23
EBIT, 5 Yr. CAGR %	-	-0.18	96.75	134.69	78.43
Earnings From Cont. Operations, 5 Yr. CAGR %	-	52.03	41.66	91.36	66.51
Net Income, 5 Yr. CAGR %	-	52.03	61.87	79.53	77.19
Normalized Net Income, 5 Yr. CAGR %	-	38.91	48.34	125.29	60.45
Diluted EPS Before Extra, 5 Yr. CAGR %	-	17.65	19.45	26.66	14.65
Accounts Receivable, 5 Yr. CAGR %	-	-	-4.78	2.59	37.75
Inventory, 5 Yr. CAGR %	-	-	52.67	54.28	119.83
Net Property, Plant and Equip., 5 Yr. CAGR %	-	61.68	57.21	53.21	55.26
Total Assets, 5 Yr. CAGR %	-	58.27	70.57	66.07	90.48
Tangible Book Value, 5 Yr. CAGR %	-	61.61	82.37	85.61	105.88
Common Equity, 5 Yr. CAGR %	-	55.73	80.36	84.96	105.08
Cash From Operations, 5 Yr. CAGR %	-	-4.66	11.39	87.78	99.21
Capital Expenditures, 5 Yr. CAGR %	-	18.87	26.46	70.22	94.9
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	10.85	84.56	73.55
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	14.42	88.93	58.89