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Southland Holdings, Inc. engages in specialty infrastructure construction business in North America. The company operates through Civil and Transportation segments. The Civil segment designs and constructs water pipelines, pump stations, lift stations, water and wastewater treatment plants, concrete and structural steel, outfall, and tunneling. The Transportation segment designs and constructs bridges, roadways, marine, dredging, ship terminals and piers, and specialty structures and facilities, as well as convention centers, sports stadiums, marine facilities, and ferris wheels. The company was founded in 1900 and is headquartered in Grapevine, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $772M | $-192M | $-307M | $13M | 217.5% | -21.2% | 190.9% |
| 2024 | $980M | $-100M | $-105M | $-5M | -64.4% | -15.5% | 447.3% |
| 2023 | $1.2B | $23M | $-19M | $-21M | -7.7% | -0.1% | -131.8% |
| 2022 | $1.2B | $131M | $61M | $-71M | 18.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,161.43 | 1,160.42 | 980.18 | 772.17 |
| Operating Revenue | - | 1,161.43 | 1,160.42 | 980.18 | 772.17 |
| Cost Of Revenue | - | 1,020.50 | 1,124.60 | 1,043.22 | 927.43 |
| Gross Profit | - | 140.93 | 35.81 | -63.04 | -155.26 |
| Operating Expense | - | 58.23 | 67.19 | 63.27 | 61.62 |
| Selling General And Administration | - | 58.23 | 67.19 | 63.27 | 61.62 |
| Total Expenses | - | 1,078.73 | 1,191.80 | 1,106.49 | 989.05 |
| Operating Income | - | 82.70 | -31.38 | -126.31 | -216.88 |
| Total Operating Income As Reported | - | 82.70 | -31.38 | -126.31 | -216.88 |
| EBITDA | - | 130.53 | 22.76 | -99.61 | -191.63 |
| Normalized EBITDA | - | 130.60 | 22.73 | -99.38 | -191.92 |
| EBIT | - | 84.83 | -7.77 | -122.91 | -214.85 |
| Interest Expense | - | 8.89 | 19.47 | 29.51 | 37.02 |
| Net Interest Income | - | -8.89 | -19.47 | -29.51 | -37.02 |
| Other Non Operating Income Expenses | - | 2.20 | 23.58 | 3.63 | 1.74 |
| Other Income Expense | - | 2.13 | 23.61 | 3.41 | 2.04 |
| Interest Expense Non Operating | - | 8.89 | 19.47 | 29.51 | 37.02 |
| Net Non Operating Interest Income Expense | - | -8.89 | -19.47 | -29.51 | -37.02 |
| Pretax Income | - | 75.94 | -27.24 | -152.42 | -251.87 |
| Tax Provision | - | 13.29 | -8.53 | -46.89 | 56.50 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.01 | 0.01 | -0.07 | 0.06 |
| Net Income Continuous Operations | - | 62.65 | -18.72 | -105.53 | -308.36 |
| Net Income From Continuing And Discontinued Operation | - | 60.54 | -19.25 | -105.36 | -306.54 |
| Net Income From Continuing Operation Net Minority Interest | - | 60.54 | -19.25 | -105.36 | -306.54 |
| Net Income | - | 60.54 | -19.25 | -105.36 | -306.54 |
| Net Income Common Stockholders | - | 60.54 | -19.25 | -105.36 | -306.54 |
| Net Income Including Noncontrolling Interests | - | 62.65 | -18.72 | -105.53 | -308.36 |
| Normalized Income | - | 60.60 | -19.27 | -105.21 | -306.77 |
| Diluted NI Availto Com Stockholders | - | 60.54 | -19.25 | -105.36 | -306.54 |
| Basic Average Shares | 44.41 | 44.41 | 47.09 | 48.07 | - |
| Diluted Average Shares | 44.41 | 44.41 | 47.09 | 48.07 | - |
| Reconciled Depreciation | - | 45.70 | 30.53 | 23.30 | 23.21 |
| Reconciled Cost Of Revenue | - | 1,020.50 | 1,124.60 | 1,043.22 | 927.43 |
| Total Unusual Items | - | -0.08 | 0.03 | -0.22 | 0.29 |
| Total Unusual Items Excluding Goodwill | - | -0.08 | 0.03 | -0.22 | 0.29 |
| Minority Interests | - | -2.11 | -0.54 | 0.16 | 1.82 |
| Gain On Sale Of Security | - | -0.08 | 0.03 | -0.22 | 0.29 |
| General And Administrative Expense | - | 1.28 | - | - | - |
| Other Gand A | - | 1.28 | - | - | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Southland Holdings, Inc.this co. | SLND | $62M | -0.20 | -0.44 | 217.5% | -1.73 |
| Byrna Technologies Inc. | BYRN | $144M | 14.82 | 2.18 | 14.7% | 9.48 |
| DMC Global Inc. | BOOM | $138M | - | 0.57 | -7.4% | 4.79 |
| Forrester Research, Inc. | FORR | $137M | -1.15 | 1.09 | -94.3% | -1.53 |
| The Eastern Company | EML | $130M |
| - |
| - |
| - |
| - |
| - |
| - |
| 18.27 |
| 1.05 |
| 5.7% |
| 10.55 |
| Arq, Inc. | ARQ | $114M | -2.17 | 0.68 | -31.3% | -3.78 |
| Atlantic International Corp. | ATLN | $99M | -1.67 | -3.09 | 185.2% | -4.28 |
| Mobile Infrastructure Corporation | BEEP | $88M | -4.09 | 0.62 | -15.2% | 48.64 |
| ACCO Brands Corporation | ACCO | $0M | 0.00 | 0.00 | 6.2% | 5.11 |
| Peer Median | - | -1.15 | 0.65 | -0.8% | 4.95 | |