STEEL PARTNERS HLDGS LP (SPLP) Financials

SPLP OTC

FY2024 annual

Revenue $2.0B +6.4% YoY

Net Income $261.6M +73.4% YoY

Free Cash Flow $298.3M n/m YoY

Operating Cash Flow $363.3M +1611.8% YoY

Source SEC Filings (10-K/10-Q) Latest period FY2024, ended Dec 31, 2024 Reported Mar 11, 2025 Currency USD FYE December

Newest figures come from the 10-K for FY2024, filed Mar 11, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SPLP SEC filings page.

STEEL PARTNERS HLDGS LP (SPLP) reported $2.0B in revenue for fiscal year 2024, up 6.4% from the prior fiscal year. This page shows its 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).

Rhea AI SPLP FY2024 2026-10-24

FY2024 shows a business whose improved cash conversion and lower debt mattered more than modest revenue growth.

Cash conversion recovered: in FY2024, net income of $261.6M was accompanied by operating cash flow of $363.3M, reversing the FY2022-FY2023 pattern in which reported earnings did not translate consistently into cash. Because free cash flow also returned to $298.3M while debt fell to $119.6M, the recovery came with less reliance on borrowing.

Gross-margin expansion widened by 9.0 percentage points from FY2021 to FY2024, with gross profit growing 68.1%. Revenue grew 33.0% over that span, pointing to cost of revenue growing more slowly than sales and a more favorable cost or revenue mix rather than volume alone.

Balance-sheet deleveraging was broad: liabilities fell to 67.2% of assets in FY2024 from 74.8% in FY2023, while long-term debt also declined. The current ratio recovered to 1.3x from 1.1x in FY2022, showing short-term balance-sheet pressure eased alongside the reduction in leverage.

Financial Health Signals

Financial health score not available

STEEL PARTNERS HLDGS LP does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Strong

9/9

STEEL PARTNERS HLDGS LP passes 9 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.39x

For every $1 of reported earnings, STEEL PARTNERS HLDGS LP 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.

Key Financial Metrics

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Earnings & Revenue

Revenue

$497.9M

YoY+6.6%

QoQ-4.3%

5Y CAGR+2.1%

10Y CAGR+9.6%

STEEL PARTNERS HLDGS LP generated $497.9M in revenue in Q4 2024. This represents an increase of 6.6% from the same quarter a year earlier. Against the prior quarter it is down 4.3%.

Net Income

$74.6M

YoY+80.7%

QoQ+104.8%

5Y CAGRn/m

10Y CAGRn/m

STEEL PARTNERS HLDGS LP reported $74.6M in net income in Q4 2024. This represents an increase of 80.7% from the same quarter a year earlier. Against the prior quarter it is up 104.8%.

EBITDA

Not reported for Q4 2024.

EPS (Diluted)

Not reported for Q4 2024.

Cash & Balance Sheet

Free Cash Flow

-$14.1M

YoYn/m

QoQ-122.0%

STEEL PARTNERS HLDGS LP recorded an outflow of $14.1M in free cash flow in Q4 2024, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is down 122.0%.

Cash & Debt

$404.4M

YoY-30.0%

QoQ+4.2%

5Y CAGR+24.0%

10Y CAGR+7.9%

STEEL PARTNERS HLDGS LP held $404.4M in cash against $119.6M in long-term debt as of Q4 2024, with $1.8B of liabilities due within a year.

Shares Outstanding

19M

YoY-7.9%

QoQ-0.6%

5Y CAGR-5.3%

10Y CAGR-3.6%

STEEL PARTNERS HLDGS LP had 19M shares outstanding in Q4 2024. This represents a decrease of 7.9% from the same quarter a year earlier. Against the prior quarter it is down 0.6%.

Dividends Per Share

Not reported for Q4 2024.

Margins & Returns

Gross Margin

43.9%

YoY+1.5pp

QoQ+0.7pp

5Y change-6.1pp

STEEL PARTNERS HLDGS LP's gross margin was 43.9% in Q4 2024, indicating the percentage of revenue retained after direct costs. This is up 1.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.7 percentage points.

Net Margin

15.0%

YoY+6.1pp

QoQ+8.0pp

5Y change+22.9pp

10Y change+24.4pp

STEEL PARTNERS HLDGS LP's net profit margin was 15.0% in Q4 2024, showing the share of revenue converted to profit. This is up 6.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.0 percentage points.

Return on Equity

6.4%

YoY+2.3pp

QoQ+3.0pp

5Y change+14.0pp

10Y change+9.2pp

STEEL PARTNERS HLDGS LP's quarterly ROE was 6.4% in Q4 2024: one quarter's net income over shareholder equity, not annualized. This is up 2.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.0 percentage points.

Operating Margin

Not reported for Q4 2024.

Capital Allocation

Capital Expenditures

$9.3M

YoY-37.4%

QoQ-75.2%

5Y CAGR-7.0%

10Y CAGR+2.4%

STEEL PARTNERS HLDGS LP invested $9.3M in capex in Q4 2024, funding long-term assets and infrastructure. This represents a decrease of 37.4% from the same quarter a year earlier. Against the prior quarter it is down 75.2%.

R&D Spending

Not reported for Q4 2024.

Share Buybacks

Not reported for Q4 2024.

SPLP Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SPLP quarterly income statement

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K
Revenue	$2.0B+6.4%	$1.9B+12.4%	$1.7B+11.2%	$1.5B+16.3%	$1.3B-16.1%	$1.6B-1.4%	$1.6B+15.5%	$1.4B+17.9%	$1.2B+20.6%	$965.1M+13.9%	$847.3M+17.5%	$721.1M+14.3%	$630.8M+1.1%	$624.2M+53.6%	$406.4M
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-14.2%	$1.1B+15.8%	$958.5M+17.5%	$815.6M+21.7%	$670.0M+13.9%	$588.2M+18.4%	$496.8M+19.2%	$416.8M-5.5%	$441.0M+58.9%	$277.4M
Gross Profit	$875.5M+9.1%	$802.4M+34.1%	$598.5M+14.9%	$520.8M+15.5%	$450.8M-26.1%	$609.7M+28.5%	$474.6M+14.8%	$413.5M+18.8%	$348.0M+18.0%	$295.0M+13.9%	$259.1M+15.5%	$224.4M+4.9%	$213.9M+16.8%	$183.2M+42.1%	$128.9M
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-5.2%	$352.8M+4.5%	$337.7M+19.6%	$282.3M+22.6%	$230.2M+22.2%	$188.4M-6.8%	$202.1M+30.0%	$155.5M+12.9%	$137.8M+64.8%	$83.6M
Interest Expense	$8.0M-56.4%	$18.4M-10.9%	$20.6M-7.2%	$22.3M-24.6%	$29.5M-24.0%	$38.8M-1.0%	$39.2M+72.0%	$22.8M+106.3%	$11.1M+24.7%	$8.9M-20.0%	$11.1M+5.9%	$10.5M-29.4%	$14.8M+19.2%	$12.4M+2.5%	$12.1M
Income Tax	-$53.3Mn/m	-$1.7M-102.3%	$73.9M-12.1%	$84.1M+120.5%	$38.1M+161.9%	$14.6M+16.0%	$12.6M-75.5%	$51.3M+114.2%	$24.0Mn/m	-$78.7M-424.1%	$24.3M+275.0%	$6.5M-50.4%	$13.1Mn/m	-$65.0M-2676.1%	$2.5M
Net Income	$261.6M+73.4%	$150.8M-26.8%	$206.0M+56.7%	$131.4M+80.8%	$72.7Mn/m	-$1.6Mn/m	-$32.6Mn/m	-$16K-100.2%	$6.6M-95.2%	$136.7Mn/m	-$7.6M-138.8%	$19.5M-52.6%	$41.0M+15.6%	$35.5M+11.7%	$31.7M

Metric	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K	Q3'2310-Q	Q2'2310-Q	Q1'2310-Q
Revenue	$497.9M+6.6%	$520.4M+5.7%	$533.2M+6.4%	$476.3M+7.0%	$466.9M+10.5%	$492.3M+15.6%	$500.9M+13.5%	$445.4M+9.8%
Cost of Revenue	$279.4M+3.9%	$295.6M+4.3%	$303.2M+4.8%	$274.2M+4.9%	$269.0M+1.0%	$283.3M+3.5%	$289.4M+0.2%	$261.3M-2.6%
Gross Profit	$218.5M+10.4%	$224.8M+7.6%	$230.0M+8.7%	$202.2M+9.8%	$197.9M+26.6%	$209.0M+37.5%	$211.5M+38.6%	$184.1M+33.8%
SG&A Expenses	$134.8M+4.8%	$137.3M+9.9%	$139.7M+2.4%	$135.3M+17.7%	$128.7M+25.2%	$124.9M+33.4%	$136.4M+35.2%	$115.0M+33.5%
Interest Expense	$2.9M+19.3%	$2.0M-51.6%	$1.7M-71.1%	$1.4M-76.7%	$2.5M-60.2%	$4.1M-19.5%	$5.8M+21.1%	$6.0M+32.3%
Income Tax	-$21.3M-64793.9%	$16.2Mn/m	-$59.0Mn/m	$10.9M-25.6%	$33K-99.8%	-$981K-110.7%	-$15.3M-138.9%	$14.6M+91.9%
Net Income	$74.6M+80.7%	$36.4M+42.4%	$116.3M+96.7%	$34.2M+37.8%	$41.3M-43.5%	$25.6M-29.6%	$59.1M-35.8%	$24.8M+444.3%

Not reported in any period shown, so not listed: R&D Expenses, Operating Income, EBITDA, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

SPLP Balance Sheet

SPLP quarterly balance sheet

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K
Total Assets	$3.6B-10.3%	$4.0B+23.3%	$3.2B+21.0%	$2.7B-32.0%	$3.9B+68.7%	$2.3B-1.0%	$2.4B+8.9%	$2.2B+10.0%	$2.0B+16.8%	$1.7B+13.0%	$1.5B-2.1%	$1.5B+10.4%	$1.4B+22.0%	$1.1B	N/A
Current Assets	$2.4B-7.0%	$2.6B+45.5%	$1.8B+40.6%	$1.3B+59.9%	$803.3M-26.3%	$1.1B-0.2%	$1.1B+6.2%	$1.0B+12.3%	$915.5M+27.2%	$719.5M+13.5%	$634.2M-9.4%	$700.1M+0.9%	$693.9M+63.5%	$424.5M	N/A
Cash & Equivalents	$404.4M-30.0%	$577.9M+146.5%	$234.4M-27.9%	$325.4M+139.6%	$135.8M-1.6%	$137.9M-58.8%	$334.9M-20.0%	$418.8M-7.0%	$450.1M+142.2%	$185.9M-1.7%	$189.0M-7.4%	$204.0M+3.0%	$198.0M+55.9%	$127.0M-29.7%	$180.7M
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0-100.0%	$106K-51.8%	$220K-84.7%	$1.4M-97.5%	$58.3M+8.7%	$53.6M-33.6%	$80.8M-41.6%	$138.5M-22.4%	$178.5M-10.4%	$199.1Mn/m	$0n/m	$0
Inventory	$195.6M-3.3%	$202.3M-5.5%	$214.1M+16.2%	$184.3M+34.4%	$137.1M-7.7%	$148.5M-6.5%	$158.8M+11.4%	$142.6M+19.7%	$119.2M+16.6%	$102.3M+59.6%	$64.1M+6.7%	$60.1M+23.0%	$48.8M-2.7%	$50.2M	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$112.4M+31.3%	$85.6M+3.1%	$83.0M+1.4%	$81.8M+1.6%	$80.5M	N/A
Long-Term Investments	$84.7M+105.4%	$41.2M-86.7%	$309.7M+18.6%	$261.1M-10.4%	$291.3M+5.6%	$275.8M+6.9%	$258.0M+9.3%	$236.1M+96.7%	$120.1M+81.8%	$66.0M-49.6%	$131.1M-0.6%	$131.9M-14.1%	$153.5M+2.3%	$150.0Mn/m	$0
Goodwill	$145.7M-2.1%	$148.8M+18.3%	$125.8M-15.0%	$148.0M-1.9%	$150.9M+0.8%	$149.6M-5.3%	$158.0M-7.1%	$170.1M+1.6%	$167.4M+64.4%	$101.9M+121.7%	$46.0M-47.4%	$87.4M+56.5%	$55.8M+51.9%	$36.8M+261.4%	$10.2M
Total Liabilities	$2.4B-19.4%	$3.0B+22.6%	$2.4B+21.3%	$2.0B-40.9%	$3.4B+82.0%	$1.9B+0.1%	$1.9B+16.7%	$1.6B+26.5%	$1.3B+33.7%	$944.4M+14.3%	$826.4M+27.2%	$649.6M+8.0%	$601.6M-7.4%	$649.4M	N/A
Current Liabilities	$1.8B-11.9%	$2.1B+25.2%	$1.6B+130.6%	$715.0M+38.3%	$517.0M-44.8%	$935.8M+34.3%	$696.8M+35.3%	$514.9M+10.5%	$465.8M+45.0%	$321.2M+39.7%	$229.9M-3.0%	$237.1M+32.1%	$179.6M-9.7%	$198.8M	N/A
Non-Current Liabilities	$588.5M-36.0%	$919.9M+17.1%	$785.2M-39.2%	$1.3B-55.1%	$2.9B+209.7%	$929.3M-20.3%	$1.2B+7.8%	$1.1B+35.8%	$797.1M+27.9%	$623.2M+4.5%	$596.5M+44.6%	$412.5M-2.3%	$422.1M-6.3%	$450.6M	N/A
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-32.6%	$478.1M+15.9%	$412.6M+25.0%	$330.1M+39.9%	$235.9M-20.2%	$295.7M+32.4%	$223.4M+59.5%	$140.1M+7.0%	$131.0M	N/A
Total Equity	$1.2B+16.7%	$1.0B+25.4%	$801.5M+19.8%	$669.0M+24.1%	$539.2M+15.6%	$466.6M-5.3%	$492.5M-13.1%	$567.0M-19.5%	$704.3M-4.9%	$740.4M+11.5%	$664.1M-23.9%	$872.7M+12.3%	$776.7M+61.7%	$480.4M	N/A

Metric	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K	Q3'2310-Q	Q2'2310-Q	Q1'2310-Q
Total Assets	$3.6B-10.3%	$3.6B-8.0%	$3.7B-2.4%	$3.6B+2.5%	$4.0B+23.3%	$4.0B+28.8%	$3.8B+32.1%	$3.6B+37.4%
Current Assets	$2.4B-7.0%	$2.3B-7.2%	$2.3B-0.6%	$2.3B+11.1%	$2.6B+45.5%	$2.5B+45.9%	$2.3B+56.2%	$2.1B+52.4%
Cash & Equivalents	$404.4M-30.0%	$388.1M-31.0%	$428.8M+21.4%	$446.7M+46.4%	$577.9M+146.5%	$562.1M+55.5%	$353.2M+75.2%	$305.1M+51.4%
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Inventory	$195.6M-3.3%	$210.7M-1.9%	$205.4M-8.3%	$204.8M-7.3%	$202.3M-5.5%	$214.8M+1.9%	$224.1M+5.4%	$220.9M+12.1%
Long-Term Investments	$84.7M+105.4%	$78.3M+98.9%	$72.8M-69.6%	$58.2M-81.0%	$41.2M-86.7%	$39.4M-85.1%	$239.8M-6.7%	$306.0M+34.1%
Goodwill	$145.7M-2.1%	$146.0M-1.8%	$148.8M+0.5%	$148.8M+18.2%	$148.8M+18.3%	$148.6M+18.6%	$148.0M+20.5%	$125.9M+2.5%
Total Liabilities	$2.4B-19.4%	$2.6B-15.4%	$2.6B-10.2%	$2.6B-3.4%	$3.0B+22.6%	$3.0B+30.0%	$2.9B+33.9%	$2.7B+41.5%
Current Liabilities	$1.8B-11.9%	$1.8B-12.8%	$1.8B-7.8%	$1.9B-0.1%	$2.1B+25.2%	$2.1B+44.5%	$2.0B+68.9%	$1.9B+138.5%
Non-Current Liabilities	$588.5M-36.0%	$729.8M-21.4%	$740.2M-15.5%	$774.8M-10.5%	$919.9M+17.1%	$928.4M+6.0%	$875.6M-8.7%	$865.5M-24.7%
Long-Term Debt	$119.6M-37.5%	$120.1M-35.7%	$78.6M-57.5%	$92.7M-49.1%	$191.3M+6.5%	$186.9M+5.5%	$184.8M+5.5%	$182.2M-32.0%
Total Equity	$1.2B+16.7%	$1.1B+15.9%	$1.1B+21.6%	$1.0B+22.1%	$1.0B+25.4%	$935.0M+25.1%	$915.9M+26.6%	$819.8M+25.3%

Not reported in any period shown, so not listed: Accounts Receivable, Retained Earnings.

SPLP Cash Flow Statement

SPLP quarterly cash flow statement

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K
Operating Cash Flow	$363.3M+1611.8%	$21.2Mn/m	-$210.2M-370.3%	$77.8M-76.0%	$324.1M+194.0%	$110.2M+109.0%	$52.8Mn/m	-$15.8M-108.1%	$195.5Mn/m	-$13.8M-117.7%	$78.0M-17.8%	$95.0M+45.0%	$65.5M+1093.5%	$5.5M-88.2%	$46.7M
Depreciation & Amortization	$59.3M+4.9%	$56.6M+5.2%	$53.8M-11.2%	$60.5M-7.4%	$65.3M-1.3%	$66.2M-17.6%	$80.3M+11.7%	$71.9M+2.0%	$70.5M+45.3%	$48.6M+26.3%	$38.4M+24.0%	$31.0M+25.2%	$24.8M+19.3%	$20.7M+54.4%	$13.4M
Stock-Based Compensation	$2.2M+37.8%	$1.6M+26.3%	$1.3M-12.4%	$1.5M+64.8%	$887K+13.9%	$779K+21.0%	$644K-94.4%	$11.5M+198.6%	$3.8M-58.2%	$9.2M+8.7%	$8.5M-75.3%	$34.3M+360.0%	$7.5M+65.3%	$4.5M+754.0%	$528K
Capital Expenditures	$65.0M+26.3%	$51.5M+8.2%	$47.5M-9.1%	$52.3M+125.3%	$23.2M-41.7%	$39.8M-15.4%	$47.1M-14.0%	$54.7M+60.1%	$34.2M+47.0%	$23.3M-19.2%	$28.8M+37.7%	$20.9M-31.7%	$30.6M+47.6%	$20.7M+183.9%	$7.3M
Free Cash Flow	$298.3Mn/m	-$30.2Mn/m	-$257.8M-1113.1%	$25.4M-91.5%	$300.9M+327.3%	$70.4M+1142.6%	$5.7Mn/m	-$70.5M-143.7%	$161.3Mn/m	-$37.1M-175.3%	$49.3M-33.5%	$74.1M+112.1%	$34.9Mn/m	-$15.2M-138.7%	$39.4M
Investing Cash Flow	$111.2Mn/m	-$142.2Mn/m	-$176.6M-111.6%	$1.5Bn/m	-$1.9Bn/m	-$275.0Mn/m	-$366.4Mn/m	-$169.6Mn/m	-$160.5M-348.7%	$64.5Mn/m	-$63.1Mn/m	-$154.3M-306.4%	$74.8Mn/m	-$81.1M-168.6%	$118.2M
Financing Cash Flow	-$646.3M-239.1%	$464.6M+56.3%	$297.2Mn/m	-$1.4B-189.2%	$1.6Bn/m	-$36.1M-115.9%	$226.6M+45.4%	$155.9M-32.4%	$230.6Mn/m	-$53.1Mn/m	-$29.7M-145.3%	$65.5Mn/m	-$69.5M-413.3%	$22.2Mn/m	-$98.4M
Dividends Paid	$9.5M-1.2%	$9.6M0.0%	$9.6M0.0%	$9.6M-75.9%	$40.0Mn/m	$0n/m	$0-100.0%	$3.9Mn/m	$0n/m	$0	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$45.0M-0.1%	$45.0M+120.1%	$20.5M	N/A	N/A	$0-100.0%	$21.0M+23.0%	$17.0M-78.3%	$78.5M+56.5%	$50.1M+1706.3%	$2.8Mn/m	$0n/m	$0

Metric	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K	Q3'2310-Q	Q2'2310-Q	Q1'2310-Q
Operating Cash Flow	-$4.9M-151.2%	$101.8M+53.7%	$69.0Mn/m	$197.5Mn/m	$9.5Mn/m	$66.2M+56.3%	-$6.3Mn/m	-$48.2Mn/m
Depreciation & Amortization	$15.5M+2.2%	$15.0M+2.1%	$14.4M+4.6%	$14.4M+11.4%	$15.1M+11.7%	$14.7M+15.7%	$13.8M+3.4%	$12.9M-8.6%
Stock-Based Compensation	N/A	N/A	N/A	$381Kn/m	N/A	N/A	N/A	-$11K-109.2%
Capital Expenditures	$9.3M-37.4%	$37.3M+184.8%	$8.3M-35.4%	$10.1M-6.0%	$14.8M-14.8%	$13.1M+11.9%	$12.8M+19.8%	$10.7M+38.2%
Free Cash Flow	-$14.1Mn/m	$64.4M+21.4%	$60.7Mn/m	$187.4Mn/m	-$5.2Mn/m	$53.1M+73.3%	-$19.1Mn/m	-$59.0Mn/m
Investing Cash Flow	$108.8M+310.9%	-$53.7Mn/m	$16.8M+67.4%	$39.1Mn/m	$26.5Mn/m	-$24.8Mn/m	$10.1Mn/m	-$154.0M-533.9%
Financing Cash Flow	-$85.9Mn/m	-$89.8M-153.4%	-$103.3M-327.2%	-$367.3M-234.7%	-$21.9M-119.0%	$168.2M-3.8%	$45.5M-70.3%	$272.7Mn/m
Dividends Paid	$2.4M-1.2%	$2.4M-1.2%	$2.4M-1.2%	$2.4M-1.2%	$2.4M0.0%	$2.4M0.0%	$2.4M0.0%	$2.4M0.0%

Not reported in any period shown, so not listed: Share Buybacks.

SPLP Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SPLP quarterly financial ratios

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K
Gross Margin	43.2%+1.1pp	42.1%+6.8pp	35.3%+1.1pp	34.2%-0.2pp	34.4%-4.7pp	39.0%+9.1pp	29.9%-0.2pp	30.1%+0.2pp	29.9%-0.7pp	30.6%0.0pp	30.6%-0.5pp	31.1%-2.8pp	33.9%+4.6pp	29.3%-2.4pp	31.7%
Net Margin	12.9%+5.0pp	7.9%-4.2pp	12.2%+3.5pp	8.6%+3.1pp	5.5%+5.7pp	-0.1%+2.0pp	-2.1%-2.1pp	0.0%-0.6pp	0.6%-13.6pp	14.2%+15.1pp	-0.9%-3.6pp	2.7%-3.8pp	6.5%+0.8pp	5.7%-2.1pp	7.8%
Return on Equity	22.3%+7.3pp	15.0%-10.7pp	25.7%+6.1pp	19.6%+6.2pp	13.5%+13.8pp	-0.3%+6.3pp	-6.6%-6.6pp	0.0%-0.9pp	0.9%-17.5pp	18.5%+19.6pp	-1.1%-3.4pp	2.2%-3.0pp	5.3%-2.1pp	7.4%	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%+1.3pp	-1.4%-1.4pp	0.0%-0.3pp	0.3%-7.8pp	8.1%+8.6pp	-0.5%-1.8pp	1.3%-1.7pp	3.0%-0.2pp	3.1%	N/A
Current Ratio	1.34+0.1x	1.27+0.2x	1.09-0.7x	1.80+0.2x	1.55+0.4x	1.16-0.4x	1.57-0.4x	2.000.0x	1.97-0.3x	2.24-0.5x	2.76-0.2x	2.95-0.9x	3.86+1.7x	2.13	N/A
Debt-to-Equity	0.10-0.1x	0.190.0x	0.22-0.2x	0.40-0.2x	0.60-0.1x	0.69-0.3x	0.97+0.2x	0.73+0.3x	0.47+0.2x	0.32-0.1x	0.45+0.2x	0.26+0.1x	0.18-0.1x	0.27	N/A
Liabilities-to-Equity	2.05-0.9x	2.97-0.1x	3.040.0x	3.00-3.3x	6.30+2.3x	4.00+0.2x	3.78+1.0x	2.82+1.0x	1.79+0.5x	1.280.0x	1.24+0.5x	0.740.0x	0.77-0.6x	1.35	N/A
Asset Turnover	0.57+0.1x	0.480.0x	0.520.0x	0.57+0.2x	0.33-0.3x	0.670.0x	0.670.0x	0.630.0x	0.590.0x	0.570.0x	0.57+0.1x	0.470.0x	0.46-0.1x	0.55	N/A
FCF Margin	14.7%+16.3pp	-1.6%+13.6pp	-15.2%-16.9pp	1.7%-21.3pp	23.0%+18.4pp	4.5%+4.2pp	0.4%+5.5pp	-5.1%-19.0pp	13.9%+17.7pp	-3.8%-9.7pp	5.8%-4.5pp	10.3%+4.7pp	5.5%+8.0pp	-2.4%-12.1pp	9.7%

Metric	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K	Q3'2310-Q	Q2'2310-Q	Q1'2310-Q
Gross Margin	43.9%+1.5pp	43.2%+0.8pp	43.1%+0.9pp	42.4%+1.1pp	42.4%+5.4pp	42.4%+6.7pp	42.2%+7.7pp	41.3%+7.4pp
Net Margin	15.0%+6.1pp	7.0%+1.8pp	21.8%+10.0pp	7.2%+1.6pp	8.8%-8.4pp	5.2%-3.3pp	11.8%-9.1pp	5.6%+4.5pp
Return on Equity	6.4%+2.3pp	3.4%+0.6pp	10.4%+4.0pp	3.4%+0.4pp	4.1%-5.0pp	2.7%-2.1pp	6.5%-6.3pp	3.0%+2.3pp
Return on Assets	2.1%+1.0pp	1.0%+0.4pp	3.2%+1.6pp	0.9%+0.2pp	1.0%-1.2pp	0.7%-0.5pp	1.6%-1.7pp	0.7%+0.5pp
Current Ratio	1.34+0.1x	1.27+0.1x	1.26+0.1x	1.24+0.1x	1.27+0.2x	1.200.0x	1.17-0.1x	1.11-0.6x
Debt-to-Equity	0.10-0.1x	0.11-0.1x	0.07-0.1x	0.09-0.1x	0.190.0x	0.200.0x	0.200.0x	0.22-0.2x
Liabilities-to-Equity	2.05-0.9x	2.35-0.9x	2.30-0.8x	2.64-0.7x	2.97-0.1x	3.23+0.1x	3.11+0.2x	3.33+0.4x
Asset Turnover	0.140.0x	0.140.0x	0.150.0x	0.130.0x	0.120.0x	0.120.0x	0.130.0x	0.130.0x
FCF Margin	-2.8%-1.7pp	12.4%+1.6pp	11.4%+15.2pp	39.3%+52.6pp	-1.1%+38.9pp	10.8%+3.6pp	-3.8%+18.4pp	-13.2%-8.0pp

Not reported in any period shown, so not listed: Operating Margin.

Where STEEL PARTNERS HLDGS LP Ranks

Frequently Asked Questions

What is STEEL PARTNERS HLDGS LP's annual revenue?

STEEL PARTNERS HLDGS LP (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 LP's revenue growing?

STEEL PARTNERS HLDGS LP (SPLP) revenue grew by 6.4% year-over-year, from $1.9B to $2.0B in fiscal year 2024.

Is STEEL PARTNERS HLDGS LP profitable?

Yes, STEEL PARTNERS HLDGS LP (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 LP have?

As of fiscal year 2024, STEEL PARTNERS HLDGS LP (SPLP) had $404.4M in cash and equivalents against $119.6M in long-term debt.

What is STEEL PARTNERS HLDGS LP's gross margin?

STEEL PARTNERS HLDGS LP (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 LP's net profit margin?

STEEL PARTNERS HLDGS LP (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 LP's return on equity (ROE)?

STEEL PARTNERS HLDGS LP (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 LP's free cash flow?

STEEL PARTNERS HLDGS LP (SPLP) generated $298.3M in free cash flow during fiscal year 2024. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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 LP's operating cash flow?

STEEL PARTNERS HLDGS LP (SPLP) generated $363.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are STEEL PARTNERS HLDGS LP's total assets?

STEEL PARTNERS HLDGS LP (SPLP) had $3.6B in total assets as of fiscal year 2024, including both current and long-term assets.

What are STEEL PARTNERS HLDGS LP's capital expenditures?

STEEL PARTNERS HLDGS LP (SPLP) invested $65.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does STEEL PARTNERS HLDGS LP have outstanding?

STEEL PARTNERS HLDGS LP (SPLP) had 19M shares outstanding as of fiscal year 2024.

What is STEEL PARTNERS HLDGS LP's current ratio?

STEEL PARTNERS HLDGS LP (SPLP) had a current ratio of 1.34 as of fiscal year 2024, which is considered adequate.

What is STEEL PARTNERS HLDGS LP's debt-to-equity ratio?

STEEL PARTNERS HLDGS LP (SPLP) had a debt-to-equity ratio of 0.10 as of fiscal year 2024. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

What is STEEL PARTNERS HLDGS LP's liabilities-to-equity ratio?

STEEL PARTNERS HLDGS LP (SPLP) had a liabilities-to-equity ratio of 2.05 as of fiscal year 2024, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

What is STEEL PARTNERS HLDGS LP's return on assets (ROA)?

STEEL PARTNERS HLDGS LP (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 LP's Piotroski F-Score?

STEEL PARTNERS HLDGS LP (SPLP) has a Piotroski F-Score of 9 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are STEEL PARTNERS HLDGS LP's earnings high quality?

STEEL PARTNERS HLDGS LP (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.