BIP BERMUDA HOLDINGS I LIMITED Financials

BIPI

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows BIP BERMUDA HOLDINGS I LIMITED (BIPI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 42/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

BIP BERMUDA HOLDINGS I LIMITED's revenue grew 9.8% year-over-year to $23.1B, a solid pace of expansion. This earns a growth score of 50/100.

Leverage

100

BIP BERMUDA HOLDINGS I LIMITED carries a low D/E ratio of 0.11, meaning only $0.11 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

BIP BERMUDA HOLDINGS I LIMITED's current ratio of 0.78 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 10/100, which could limit financial flexibility.

Cash Flow

While BIP BERMUDA HOLDINGS I LIMITED generated $6.0B in operating cash flow, capex of $6.0B consumed most of it, leaving -$53.0M in free cash flow. This results in a low score of 24/100, reflecting heavy capital investment rather than weak cash generation.

Returns

BIP BERMUDA HOLDINGS I LIMITED generates a 7.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 27/100. This is up from 5.6% the prior year.

Piotroski F-Score Neutral

5/9

BIP BERMUDA HOLDINGS I LIMITED passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.36x

For every $1 of reported earnings, BIP BERMUDA HOLDINGS I LIMITED generates $2.36 in operating cash flow ($6.0B OCF vs $2.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$23.1B

YoY+9.8%

5Y CAGR+21.1%

10Y CAGR+28.7%

BIP BERMUDA HOLDINGS I LIMITED generated $23.1B in revenue in fiscal year 2025. This represents an increase of 9.8% from the prior year.

EBITDA

N/A

Net Income

$2.5B

YoY+50.4%

5Y CAGR+22.9%

10Y CAGR+20.5%

BIP BERMUDA HOLDINGS I LIMITED reported $2.5B in net income in fiscal year 2025. This represents an increase of 50.4% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$53.0M

YoY+83.5%

BIP BERMUDA HOLDINGS I LIMITED generated -$53.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 83.5% from the prior year.

Cash & Debt

$3.2B

YoY+54.6%

5Y CAGR+29.9%

10Y CAGR+32.0%

BIP BERMUDA HOLDINGS I LIMITED held $3.2B in cash against $4.0B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

11.0%

YoY+3.0pp

5Y CAGR+0.8pp

10Y CAGR-10.1pp

BIP BERMUDA HOLDINGS I LIMITED's net profit margin was 11.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.0 percentage points from the prior year.

Return on Equity

7.1%

YoY+1.5pp

5Y CAGR+2.9pp

10Y CAGR+1.7pp

BIP BERMUDA HOLDINGS I LIMITED's ROE was 7.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$6.0B

YoY+21.1%

5Y CAGR+32.6%

10Y CAGR+27.8%

BIP BERMUDA HOLDINGS I LIMITED invested $6.0B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 21.1% from the prior year.

BIPI Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$23.1B+9.8%	$21.0B+17.3%	$17.9B+24.3%	$14.4B+25.0%	$11.5B+29.8%	$8.9B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$589.0M+118.1%	$270.0M-53.5%	$581.0M+3.8%	$560.0M-8.8%	$614.0M+111.0%	$291.0M
Net Income	$2.5B+50.4%	$1.7B+16.2%	$1.4B+5.3%	$1.4B-49.4%	$2.7B+200.8%	$904.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	$5.4B	N/A	$5.1B	N/A	$4.3B	N/A	$3.7B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	$252.0M	N/A	$184.0M	N/A	$773.0M	N/A	$425.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BIPI Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$128.2B+22.5%	$104.6B+3.8%	$100.8B+38.1%	$73.0B-1.3%	$74.0B+20.6%	$61.3B
Current Assets	$12.0B+24.7%	$9.6B+20.4%	$8.0B+19.3%	$6.7B+36.6%	$4.9B+31.9%	$3.7B
Cash & Equivalents	$3.2B+54.6%	$2.1B+11.5%	$1.9B+45.2%	$1.3B-9.0%	$1.4B+62.2%	$867.0M
Inventory	$583.0M+28.4%	$454.0M-11.3%	$512.0M-3.6%	$531.0M+32.8%	$400.0M+81.0%	$221.0M
Accounts Receivable	$5.3B+19.8%	$4.5B-4.7%	$4.7B+77.9%	$2.6B+19.2%	$2.2B+14.5%	$1.9B
Goodwill	$19.2B+36.2%	$14.1B-2.7%	$14.5B+64.8%	$8.8B-2.1%	$9.0B+35.3%	$6.6B
Total Liabilities	$92.6B+23.9%	$74.7B+11.9%	$66.8B+40.8%	$47.4B-0.3%	$47.6B+20.0%	$39.7B
Current Liabilities	$15.3B+40.0%	$10.9B-6.9%	$11.7B+39.7%	$8.4B-3.3%	$8.7B+56.8%	$5.5B
Long-Term Debt	$4.0B-11.9%	$4.5B+41.0%	$3.2B+5.3%	$3.0B-11.3%	$3.4B-4.8%	$3.6B
Total Equity	$35.5B+19.1%	$29.9B-12.2%	$34.0B+33.1%	$25.6B-3.2%	$26.4B+21.8%	$21.7B
Retained Earnings	-$6.1B-7.4%	-$5.7B-28.4%	-$4.4B-29.1%	-$3.4B-35.8%	-$2.5B+8.4%	-$2.8B

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$128.2B+17.9%	$108.7B+3.9%	$104.6B+3.7%	$100.9B+0.1%	$100.8B+23.4%	$81.7B+11.9%	$73.0B-1.3%	$73.9B
Current Assets	$12.0B-1.5%	$12.2B+26.6%	$9.6B+28.9%	$7.5B-6.6%	$8.0B+26.7%	$6.3B-5.8%	$6.7B+14.8%	$5.8B
Cash & Equivalents	$3.2B+36.7%	$2.3B+13.1%	$2.1B+56.2%	$1.3B-28.6%	$1.9B+34.6%	$1.4B+7.9%	$1.3B-1.7%	$1.3B
Inventory	$583.0M+24.0%	$470.0M+3.5%	$454.0M-4.8%	$477.0M-6.8%	$512.0M+7.8%	$475.0M-10.5%	$531.0M+15.9%	$458.0M
Accounts Receivable	$5.3B+8.6%	$4.9B+10.3%	$4.5B-0.3%	$4.5B-4.5%	$4.7B+34.4%	$3.5B+32.3%	$2.6B+13.4%	$2.3B
Goodwill	$19.2B+32.1%	$14.5B+3.1%	$14.1B0.0%	$14.1B-2.6%	$14.5B+16.9%	$12.4B+41.0%	$8.8B-1.8%	$9.0B
Total Liabilities	$92.6B+17.2%	$79.0B+5.8%	$74.7B+5.6%	$70.8B+6.0%	$66.8B+25.9%	$53.0B+11.9%	$47.4B-0.9%	$47.9B
Current Liabilities	$15.3B+10.8%	$13.8B+26.3%	$10.9B+18.4%	$9.2B-21.3%	$11.7B+20.4%	$9.7B+16.1%	$8.4B-5.8%	$8.9B
Long-Term Debt	$4.0B-10.8%	$4.5B-1.2%	$4.5B+14.4%	$3.9B+23.3%	$3.2B+4.6%	$3.1B+0.6%	$3.0B-6.3%	$3.2B
Total Equity	$35.5B+19.9%	$29.6B-0.7%	$29.9B-0.9%	$30.1B-11.5%	$34.0B+18.8%	$28.6B+12.0%	$25.6B-1.9%	$26.0B
Retained Earnings	-$6.1B+3.0%	-$6.3B-10.8%	-$5.7B-12.1%	-$5.1B-14.6%	-$4.4B-18.0%	-$3.7B-9.5%	-$3.4B-19.4%	-$2.9B

BIPI Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$6.0B+28.3%	$4.7B+14.1%	$4.1B+30.2%	$3.1B+13.0%	$2.8B+9.6%	$2.5B
Capital Expenditures	$6.0B+21.1%	$5.0B+100.0%	$2.5B-10.4%	$2.8B+34.3%	$2.1B+40.4%	$1.5B
Free Cash Flow	-$53.0M+83.5%	-$322.0M-120.2%	$1.6B+346.9%	$356.0M-49.5%	$705.0M-33.4%	$1.1B
Investing Cash Flow	-$12.7B-83.5%	-$6.9B+46.9%	-$13.0B-286.0%	-$3.4B-186.9%	-$1.2B+74.5%	-$4.6B
Financing Cash Flow	$7.8B+199.3%	$2.6B-72.3%	$9.4B+16719.6%	$56.0M+105.6%	-$995.0M-146.8%	$2.1B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	N/A	$1.2B	N/A	$1.1B	N/A	$970.0M	N/A	$734.0M
Capital Expenditures	N/A	$1.0B	N/A	$991.0M	N/A	$572.0M	N/A	$735.0M
Free Cash Flow	N/A	$169.0M	N/A	$66.0M	N/A	$398.0M	N/A	-$1.0M
Investing Cash Flow	N/A	-$460.0M	N/A	-$1.2B	N/A	$760.0M	N/A	-$584.0M
Financing Cash Flow	N/A	$105.0M	N/A	-$76.0M	N/A	-$1.9B	N/A	-$690.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BIPI Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	11.0%+3.0pp	8.0%-0.1pp	8.1%-1.4pp	9.5%-14.0pp	23.6%+13.4pp	10.2%
Return on Equity	7.1%+1.5pp	5.6%+1.4pp	4.3%-1.1pp	5.4%-4.9pp	10.3%+6.1pp	4.2%
Return on Assets	2.0%+0.4pp	1.6%+0.2pp	1.4%-0.4pp	1.9%-1.8pp	3.7%+2.2pp	1.5%
Current Ratio	0.78-0.1	0.88+0.2	0.68-0.1	0.80+0.2	0.57-0.1	0.67
Debt-to-Equity	0.11-0.0	0.15+0.1	0.09-0.0	0.12-0.0	0.13-0.0	0.17
FCF Margin	-0.2%+1.3pp	-1.5%-10.4pp	8.9%+6.4pp	2.5%-3.6pp	6.1%-5.8pp	11.9%

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	4.6%	N/A	3.6%	N/A	18.2%	N/A	11.6%
Return on Equity	N/A	0.9%	N/A	0.6%	N/A	2.7%	N/A	1.6%
Return on Assets	N/A	0.2%	N/A	0.2%	N/A	0.9%	N/A	0.6%
Current Ratio	0.78-0.1	0.880.0	0.88+0.1	0.81+0.1	0.68+0.0	0.65-0.2	0.80+0.1	0.65
Debt-to-Equity	0.11-0.0	0.150.0	0.15+0.0	0.13+0.0	0.09-0.0	0.11-0.0	0.120.0	0.12
FCF Margin	N/A	3.1%	N/A	1.3%	N/A	9.3%	N/A	-0.0%

Note: The current ratio is below 1.0 (0.78), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

What is BIP BERMUDA HOLDINGS I LIMITED's annual revenue?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) reported $23.1B in total revenue for fiscal year 2025. This represents a 9.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is BIP BERMUDA HOLDINGS I LIMITED's revenue growing?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) revenue grew by 9.8% year-over-year, from $21.0B to $23.1B in fiscal year 2025.

Is BIP BERMUDA HOLDINGS I LIMITED profitable?

Yes, BIP BERMUDA HOLDINGS I LIMITED (BIPI) reported a net income of $2.5B in fiscal year 2025, with a net profit margin of 11.0%.

How much debt does BIP BERMUDA HOLDINGS I LIMITED have?

As of fiscal year 2025, BIP BERMUDA HOLDINGS I LIMITED (BIPI) had $3.2B in cash and equivalents against $4.0B in long-term debt.

What is BIP BERMUDA HOLDINGS I LIMITED's net profit margin?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) had a net profit margin of 11.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is BIP BERMUDA HOLDINGS I LIMITED's return on equity (ROE)?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) has a return on equity of 7.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is BIP BERMUDA HOLDINGS I LIMITED's free cash flow?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) generated -$53.0M in free cash flow during fiscal year 2025. This represents a 83.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is BIP BERMUDA HOLDINGS I LIMITED's operating cash flow?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) generated $6.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are BIP BERMUDA HOLDINGS I LIMITED's total assets?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) had $128.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are BIP BERMUDA HOLDINGS I LIMITED's capital expenditures?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) invested $6.0B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is BIP BERMUDA HOLDINGS I LIMITED's current ratio?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) had a current ratio of 0.78 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is BIP BERMUDA HOLDINGS I LIMITED's debt-to-equity ratio?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) had a debt-to-equity ratio of 0.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is BIP BERMUDA HOLDINGS I LIMITED's return on assets (ROA)?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) had a return on assets of 2.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is BIP BERMUDA HOLDINGS I LIMITED's Piotroski F-Score?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are BIP BERMUDA HOLDINGS I LIMITED's earnings high quality?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) has an earnings quality ratio of 2.36x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is BIP BERMUDA HOLDINGS I LIMITED?

BIP BERMUDA HOLDINGS I LIMITED (BIPI) scores 42 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.