Steel Partners Hldgs L P Financials

SPLP

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2024 Currency USD FYE December

Financial Health Signals

Financial Profile 69/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Steel Partners Hldgs L P's revenue grew 6.4% year-over-year to $2.0B, a solid pace of expansion. This earns a growth score of 47/100.

Leverage

100

Steel Partners Hldgs L P carries a low D/E ratio of 0.10, meaning only $0.10 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

Steel Partners Hldgs L P's current ratio of 1.34 indicates adequate short-term liquidity, earning a score of 34/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Steel Partners Hldgs L P converts 14.7% of revenue into free cash flow ($298.3M). This strong cash generation earns a score of 74/100.

Returns

Steel Partners Hldgs L P earns a strong 22.3% return on equity (ROE), meaning it generates $22 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 89/100. This is up from 15.0% the prior year.

Piotroski F-Score Strong

8/9

Steel Partners Hldgs L P passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.39x

For every $1 of reported earnings, Steel Partners Hldgs L P generates $1.39 in operating cash flow ($363.3M OCF vs $261.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Steel Partners Hldgs L P (SPLP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Export CSV

Key Financial Metrics

Revenue

$2.0B

YoY+6.4%

5Y CAGR+5.4%

10Y CAGR+9.1%

Steel Partners Hldgs L P generated $2.0B in revenue in fiscal year 2024. This represents an increase of 6.4% from the prior year.

EBITDA

N/A

Free Cash Flow

$298.3M

YoY+1086.9%

5Y CAGR+33.5%

10Y CAGR+19.7%

Steel Partners Hldgs L P generated $298.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 1086.9% from the prior year.

Net Income

$261.6M

YoY+73.4%

Steel Partners Hldgs L P reported $261.6M in net income in fiscal year 2024. This represents an increase of 73.4% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$404.4M

YoY-30.0%

5Y CAGR+24.0%

10Y CAGR+7.9%

Steel Partners Hldgs L P held $404.4M in cash against $119.6M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

43.2%

YoY+1.1pp

5Y CAGR+4.1pp

10Y CAGR+12.6pp

Steel Partners Hldgs L P's gross margin was 43.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.1 percentage points from the prior year.

Operating Margin

N/A

Net Margin

12.9%

YoY+5.0pp

5Y CAGR+13.0pp

10Y CAGR+13.8pp

Steel Partners Hldgs L P's net profit margin was 12.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 5.0 percentage points from the prior year.

Return on Equity

22.3%

YoY+7.3pp

Steel Partners Hldgs L P's ROE was 22.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 7.3 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$65.0M

YoY+26.3%

5Y CAGR+10.3%

10Y CAGR+8.5%

Steel Partners Hldgs L P invested $65.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 26.3% from the prior year.

SPLP Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$2.0B+6.4%	$1.9B+12.4%	$1.7B+11.2%	$1.5B+16.3%	$1.3B-16.1%	$1.6B
Cost of Revenue	$1.2B+4.5%	$1.1B+0.6%	$1.1B+9.2%	$1.0B+16.8%	$859.9M-9.7%	$952.1M
Gross Profit	$875.5M+9.1%	$802.4M+34.1%	$598.5M+14.9%	$520.8M+15.5%	$450.8M-26.1%	$609.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$547.1M+8.4%	$505.0M+31.7%	$383.4M+26.1%	$304.0M+4.5%	$290.8M-13.1%	$334.6M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$8.0M-56.4%	$18.4M-10.9%	$20.6M-7.2%	$22.3M-24.6%	$29.5M-24.0%	$38.8M
Income Tax	-$53.3M-3081.3%	-$1.7M-102.3%	$73.9M-12.1%	$84.1M+120.5%	$38.1M+161.9%	$14.6M
Net Income	$261.6M+73.4%	$150.8M-26.8%	$206.0M+56.7%	$131.4M+80.8%	$72.7M+4650.7%	-$1.6M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Revenue	$497.9M-4.3%	$520.4M-2.4%	$533.2M+11.9%	$476.3M+2.0%	$466.9M-5.1%	$492.3M-1.7%	$500.9M+12.5%	$445.4M
Cost of Revenue	$279.4M-5.5%	$295.6M-2.5%	$303.2M+10.6%	$274.2M+1.9%	$269.0M-5.0%	$283.3M-2.1%	$289.4M+10.8%	$261.3M
Gross Profit	$218.5M-2.8%	$224.8M-2.2%	$230.0M+13.7%	$202.2M+2.2%	$197.9M-5.3%	$209.0M-1.2%	$211.5M+14.9%	$184.1M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$134.8M-1.8%	$137.3M-1.7%	$139.7M+3.3%	$135.3M+5.1%	$128.7M+3.0%	$124.9M-8.4%	$136.4M+18.6%	$115.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$2.9M+47.6%	$2.0M+18.1%	$1.7M+21.0%	$1.4M-43.5%	$2.5M-40.1%	$4.1M-29.5%	$5.8M-2.6%	$6.0M
Income Tax	-$21.3M-231.6%	$16.2M+127.5%	-$59.0M-643.1%	$10.9M+32812.1%	$33K+103.4%	-$981K+93.6%	-$15.3M-205.0%	$14.6M
Net Income	$74.6M+104.8%	$36.4M-68.7%	$116.3M+239.9%	$34.2M-17.0%	$41.3M+61.4%	$25.6M-56.8%	$59.1M+138.1%	$24.8M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SPLP Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$3.6B-10.3%	$4.0B+23.3%	$3.2B+21.0%	$2.7B-32.0%	$3.9B+68.7%	$2.3B
Current Assets	$2.4B-7.0%	$2.6B+45.5%	$1.8B+40.6%	$1.3B+59.9%	$803.3M-26.3%	$1.1B
Cash & Equivalents	$404.4M-30.0%	$577.9M+146.5%	$234.4M-27.9%	$325.4M+139.6%	$135.8M-1.6%	$137.9M
Inventory	$195.6M-3.3%	$202.3M-5.5%	$214.1M+16.2%	$184.3M+34.4%	$137.1M-7.7%	$148.5M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$145.7M-2.1%	$148.8M+18.3%	$125.8M-15.0%	$148.0M-1.9%	$150.9M+0.8%	$149.6M
Total Liabilities	$2.4B-19.4%	$3.0B+22.6%	$2.4B+21.3%	$2.0B-40.9%	$3.4B+82.0%	$1.9B
Current Liabilities	$1.8B-11.9%	$2.1B+25.2%	$1.6B+130.6%	$715.0M+38.3%	$517.0M-44.8%	$935.8M
Long-Term Debt	$119.6M-37.5%	$191.3M+6.5%	$179.6M-33.5%	$269.9M-16.6%	$323.4M+0.4%	$322.1M
Total Equity	$1.2B+16.7%	$1.0B+25.4%	$801.5M+19.8%	$669.0M+24.1%	$539.2M+15.6%	$466.6M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Total Assets	$3.6B-1.5%	$3.6B-1.1%	$3.7B+0.9%	$3.6B-8.8%	$4.0B+1.0%	$4.0B+4.9%	$3.8B+6.0%	$3.6B
Current Assets	$2.4B+5.4%	$2.3B+1.1%	$2.3B-0.9%	$2.3B-12.0%	$2.6B+5.2%	$2.5B+8.4%	$2.3B+10.7%	$2.1B
Cash & Equivalents	$404.4M+4.2%	$388.1M-9.5%	$428.8M-4.0%	$446.7M-22.7%	$577.9M+2.8%	$562.1M+59.2%	$353.2M+15.8%	$305.1M
Inventory	$195.6M-7.2%	$210.7M+2.6%	$205.4M+0.3%	$204.8M+1.3%	$202.3M-5.8%	$214.8M-4.1%	$224.1M+1.4%	$220.9M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$145.7M-0.2%	$146.0M-1.9%	$148.8M0.0%	$148.8M0.0%	$148.8M+0.1%	$148.6M+0.4%	$148.0M+17.6%	$125.9M
Total Liabilities	$2.4B-5.6%	$2.6B-0.4%	$2.6B-3.0%	$2.6B-11.6%	$3.0B-1.0%	$3.0B+5.8%	$2.9B+4.3%	$2.7B
Current Liabilities	$1.8B-0.1%	$1.8B0.0%	$1.8B-2.4%	$1.9B-9.7%	$2.1B-1.1%	$2.1B+5.7%	$2.0B+5.8%	$1.9B
Long-Term Debt	$119.6M-0.4%	$120.1M+52.8%	$78.6M-15.2%	$92.7M-51.5%	$191.3M+2.3%	$186.9M+1.2%	$184.8M+1.4%	$182.2M
Total Equity	$1.2B+8.3%	$1.1B-2.7%	$1.1B+11.2%	$1.0B-0.4%	$1.0B+7.5%	$935.0M+2.1%	$915.9M+11.7%	$819.8M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SPLP Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$363.3M+1611.8%	$21.2M+110.1%	-$210.2M-370.3%	$77.8M-76.0%	$324.1M+194.0%	$110.2M
Capital Expenditures	$65.0M+26.3%	$51.5M+8.2%	$47.5M-9.1%	$52.3M+125.3%	$23.2M-41.7%	$39.8M
Free Cash Flow	$298.3M+1086.9%	-$30.2M+88.3%	-$257.8M-1113.1%	$25.4M-91.5%	$300.9M+327.3%	$70.4M
Investing Cash Flow	$111.2M+178.2%	-$142.2M+19.5%	-$176.6M-111.6%	$1.5B+179.9%	-$1.9B-590.6%	-$275.0M
Financing Cash Flow	-$646.3M-239.1%	$464.6M+56.3%	$297.2M+121.2%	-$1.4B-189.2%	$1.6B+4454.9%	-$36.1M
Dividends Paid	$9.5M-1.2%	$9.6M0.0%	$9.6M0.0%	$9.6M-75.9%	$40.0M	$0
Share Buybacks	N/A	N/A	$45.0M-0.1%	$45.0M+120.1%	$20.5M	N/A

Metric	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Operating Cash Flow	-$4.9M-104.8%	$101.8M+47.6%	$69.0M-65.1%	$197.5M+1968.3%	$9.5M-85.6%	$66.2M+1156.8%	-$6.3M+87.0%	-$48.2M
Capital Expenditures	$9.3M-75.2%	$37.3M+350.2%	$8.3M-17.6%	$10.1M-31.9%	$14.8M+12.7%	$13.1M+2.1%	$12.8M+19.9%	$10.7M
Free Cash Flow	-$14.1M-122.0%	$64.4M+6.2%	$60.7M-67.6%	$187.4M+3678.3%	-$5.2M-109.9%	$53.1M+377.8%	-$19.1M+67.6%	-$59.0M
Investing Cash Flow	$108.8M+302.8%	-$53.7M-418.7%	$16.8M-57.0%	$39.1M+47.8%	$26.5M+206.9%	-$24.8M-346.4%	$10.1M+106.5%	-$154.0M
Financing Cash Flow	-$85.9M+4.4%	-$89.8M+13.0%	-$103.3M+71.9%	-$367.3M-1580.4%	-$21.9M-113.0%	$168.2M+270.1%	$45.5M-83.3%	$272.7M
Dividends Paid	$2.4M0.0%	$2.4M0.0%	$2.4M0.0%	$2.4M-1.2%	$2.4M0.0%	$2.4M0.0%	$2.4M0.0%	$2.4M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SPLP Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	43.2%+1.1pp	42.1%+6.8pp	35.3%+1.1pp	34.2%-0.2pp	34.4%-4.7pp	39.0%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	12.9%+5.0pp	7.9%-4.2pp	12.2%+3.5pp	8.6%+3.1pp	5.5%+5.7pp	-0.1%
Return on Equity	22.3%+7.3pp	15.0%-10.7pp	25.7%+6.1pp	19.6%+6.2pp	13.5%	N/A
Return on Assets	7.3%+3.5pp	3.8%-2.6pp	6.4%+1.5pp	4.9%+3.1pp	1.8%+1.9pp	-0.1%
Current Ratio	1.34+0.1	1.27+0.2	1.09-0.7	1.80+0.2	1.55+0.4	1.16
Debt-to-Equity	0.10-0.1	0.19-0.0	0.22-0.2	0.40-0.2	0.60-0.1	0.69
FCF Margin	14.7%+16.3pp	-1.6%+13.6pp	-15.2%-16.9pp	1.7%-21.3pp	23.0%+18.4pp	4.5%

Metric	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Gross Margin	43.9%+0.7pp	43.2%+0.1pp	43.1%+0.7pp	42.4%+0.1pp	42.4%-0.1pp	42.4%+0.2pp	42.2%+0.9pp	41.3%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	15.0%+8.0pp	7.0%-14.8pp	21.8%+14.6pp	7.2%-1.7pp	8.8%+3.7pp	5.2%-6.6pp	11.8%+6.2pp	5.6%
Return on Equity	6.4%+3.0pp	3.4%-7.1pp	10.4%+7.0pp	3.4%-0.7pp	4.1%+1.4pp	2.7%-3.7pp	6.5%+3.4pp	3.0%
Return on Assets	2.1%+1.1pp	1.0%-2.2pp	3.2%+2.2pp	0.9%-0.1pp	1.0%+0.4pp	0.7%-0.9pp	1.6%+0.9pp	0.7%
Current Ratio	1.34+0.1	1.27+0.0	1.26+0.0	1.24-0.0	1.27+0.1	1.20+0.0	1.17+0.1	1.11
Debt-to-Equity	0.100.0	0.11+0.0	0.07-0.0	0.09-0.1	0.190.0	0.200.0	0.20-0.0	0.22
FCF Margin	-2.8%-15.2pp	12.4%+1.0pp	11.4%-28.0pp	39.3%+40.5pp	-1.1%-11.9pp	10.8%+14.6pp	-3.8%+9.4pp	-13.2%

Similar Companies

Orbia Advance MXCHF

$1.6B

Orbia Advance Corporation Sab De Cv MXCHY

$1.6B

TOPPAN Holdings TOPPY

$8.2B

Fosun International Ltd FOSUF

$5.9B

Fosun Internatio FOSUY

$5.9B

Frequently Asked Questions

What is Steel Partners Hldgs L P's annual revenue?

Steel Partners Hldgs L P (SPLP) reported $2.0B in total revenue for fiscal year 2024. This represents a 6.4% 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 Steel Partners Hldgs L P's revenue growing?

Steel Partners Hldgs L P (SPLP) revenue grew by 6.4% year-over-year, from $1.9B to $2.0B in fiscal year 2024.

Is Steel Partners Hldgs L P profitable?

Yes, Steel Partners Hldgs L P (SPLP) reported a net income of $261.6M in fiscal year 2024, with a net profit margin of 12.9%.

How much debt does Steel Partners Hldgs L P have?

As of fiscal year 2024, Steel Partners Hldgs L P (SPLP) had $404.4M in cash and equivalents against $119.6M in long-term debt.

What is Steel Partners Hldgs L P's gross margin?

Steel Partners Hldgs L P (SPLP) had a gross margin of 43.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Steel Partners Hldgs L P's net profit margin?

Steel Partners Hldgs L P (SPLP) had a net profit margin of 12.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Steel Partners Hldgs L P's return on equity (ROE)?

Steel Partners Hldgs L P (SPLP) has a return on equity of 22.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Steel Partners Hldgs L P's free cash flow?

Steel Partners Hldgs L P (SPLP) generated $298.3M in free cash flow during fiscal year 2024. This represents a 1086.9% 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 Steel Partners Hldgs L P's operating cash flow?

Steel Partners Hldgs L P (SPLP) generated $363.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Steel Partners Hldgs L P's total assets?

Steel Partners Hldgs L P (SPLP) had $3.6B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Steel Partners Hldgs L P's capital expenditures?

Steel Partners Hldgs L P (SPLP) invested $65.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Steel Partners Hldgs L P's current ratio?

Steel Partners Hldgs L P (SPLP) had a current ratio of 1.34 as of fiscal year 2024, which is considered adequate.

What is Steel Partners Hldgs L P's debt-to-equity ratio?

Steel Partners Hldgs L P (SPLP) had a debt-to-equity ratio of 0.10 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Steel Partners Hldgs L P's return on assets (ROA)?

Steel Partners Hldgs L P (SPLP) had a return on assets of 7.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Steel Partners Hldgs L P's Piotroski F-Score?

Steel Partners Hldgs L P (SPLP) has a Piotroski F-Score of 8 out of 9, indicating strong 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 Steel Partners Hldgs L P's earnings high quality?

Steel Partners Hldgs L P (SPLP) has an earnings quality ratio of 1.39x, 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 Steel Partners Hldgs L P?

Steel Partners Hldgs L P (SPLP) scores 69 out of 100 on our Financial Profile, indicating strong 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.