DSE : BATASHOE
Bata Shoe Company (Bangladesh) Limited — Financial statements
Footwear, Except Rubber · Bangladesh
Last price 883 BDT (At close: Oct 29, 2026) · Market cap 12.08B
Latest research: Bata Shoe Company (Bangladesh) valuation report: fair value BDT 250–680 (Oct 2026) · Fair value range BDT 250-680: Bata's margin recovers, but parent fees take 7.7% of sales
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Financial statements
Bata Shoe Company (Bangladesh) Limited (BATASHOE) reported revenue of 9.68B BDT (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 9.68B | 9.16B | 9.28B | 9.88B | 9.86B | 7.74B |
| Cost of Revenue | 5.67B | 5.38B | 5.02B | 5.48B | 5.60B | 5.05B |
| Gross Profit | 4.01B | 3.79B | 4.26B | 4.40B | 4.25B | 2.70B |
| Selling, General & Admin | 3.32B | 3.39B | 3.53B | 3.55B | 3.21B | 2.54B |
| Other Operating Expenses | -4.84M | -10.40M | -12.03M | 3.01M | -7.36M | -27.77M |
| Operating Expenses | 3.31B | 3.38B | 3.52B | 3.55B | 3.20B | 2.51B |
| Operating Income | 697.22M | 408.74M | 735.83M | 849.49M | 1.05B | 186.36M |
| Interest Expense | -248.69M | -227.67M | -187.89M | -162.54M | -146.50M | -143.63M |
| Interest & Investment Income | 64.60M | 57.08M | 50.70M | 74.89M | 48.07M | 20.22M |
| Currency Exchange Gain (Loss) | -3.55M | -29.73M | -40.75M | 19.19M | -110.23M | -3.97M |
| EBT Excluding Unusual Items | 509.58M | 208.42M | 557.90M | 781.02M | 846.22M | 58.97M |
| Gain (Loss) on Sale of Assets | -6.12M | -9.98M | -4.84M | -24.87M | -26.43M | -10.71M |
| Pretax Income | 503.46M | 198.44M | 553.06M | 756.15M | 819.79M | 48.26M |
| Income Tax Expense | 259.41M | 186.86M | 257.32M | 355.16M | 409.68M | 116.74M |
| Net Income | 244.05M | 11.58M | 295.74M | 400.99M | 410.11M | -68.48M |
| Net Income to Common | 244.05M | 11.58M | 295.74M | 400.99M | 410.11M | -68.48M |
| Shares Outstanding (Basic) | 13.68M | 13.68M | 13.68M | 13.68M | 13.68M | 13.68M |
| Shares Outstanding (Diluted) | 13.68M | 13.68M | 13.68M | 13.68M | 13.68M | 13.68M |
| EPS (Basic) | 17.84 | 0.85 | 21.62 | 29.31 | 29.98 | -5.01 |
| EPS (Diluted) | 17.84 | 0.85 | 21.62 | 29.31 | 29.98 | -5.01 |
| Free Cash Flow | 1.11B | 692.52M | 814.70M | 950.87M | 1.24B | 1.18B |
| Free Cash Flow Per Share | 80.90 | 50.62 | 59.55 | 69.51 | 90.64 | 86.59 |
| Dividend Per Share | 24.80 | 24.80 | 44.50 | 43.50 | 36.50 | 10.00 |
| Gross Margin | 41.40% | 41.32% | 45.88% | 44.51% | 43.15% | 34.82% |
| Operating Margin | 7.20% | 4.46% | 7.93% | 8.60% | 10.70% | 2.41% |
| Profit Margin | 2.52% | 0.13% | 3.19% | 4.06% | 4.16% | -0.88% |
| Free Cash Flow Margin | 11.43% | 7.56% | 8.78% | 9.63% | 12.58% | 15.29% |
| EBITDA | 870.24M | 579.20M | 906.74M | 1.01B | 1.20B | 343.33M |
| EBITDA Margin | 8.99% | 6.32% | 9.78% | 10.18% | 12.21% | 4.43% |
| D&A For EBITDA | 173.02M | 170.46M | 170.91M | 156.31M | 148.49M | 156.97M |
| EBIT | 697.22M | 408.74M | 735.83M | 849.49M | 1.05B | 186.36M |
| EBIT Margin | 7.20% | 4.46% | 7.93% | 8.60% | 10.70% | 2.41% |
| Effective Tax Rate | 51.52% | 94.16% | 46.53% | 46.97% | 49.97% | 241.89% |
| Advertising Expenses | 181.35M | 180.58M | 171.99M | 176.09M | 33.57M |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 751.31M | 453.36M | 591.55M | 979.69M | 1.27B | 622.78M |
| Cash & Short-Term Investments | 751.31M | 453.36M | 591.55M | 979.69M | 1.27B | 622.78M |
| Accounts Receivable | 29.41M | 21.52M | 17.43M | 9.07M | 2.67M | 32.42M |
| Other Receivables | 36.09M | 13.32M | 6.32M | 6.15M | 7.89M | |
| Receivables | 65.49M | 34.84M | 17.43M | 15.39M | 8.82M | 40.31M |
| Inventory | 3.10B | 3.13B | 3.55B | 3.40B | 3.03B | 2.77B |
| Prepaid Expenses | 54.36M | |||||
| Other Current Assets | 98.31M | 110.84M | 88.51M | 70.73M | 76.68M | 165.35M |
| Total Current Assets | 4.01B | 3.73B | 4.25B | 4.46B | 4.38B | 3.66B |
| Property, Plant & Equipment | 3.38B | 3.23B | 3.16B | 3.21B | 2.57B | 2.31B |
| Other Intangible Assets | 31.77M | 38.49M | 26.51M | 3.35M | ||
| Long-Term Deferred Tax Assets | 175.70M | 161.74M | 122.60M | 117.67M | 271.20M | 468.28M |
| Other Long-Term Assets | 242.85M | 241.95M | 346.85M | 343.03M | 244.70M | |
| Total Assets | 7.84B | 7.40B | 7.90B | 8.13B | 7.47B | 6.44B |
| Accounts Payable | 1.67B | 2.08B | 2.17B | 2.32B | 1.81B | 419.23M |
| Accrued Expenses | 512.60M | |||||
| Current Portion of Leases | 433.08M | 340.89M | 304.11M | 406.61M | 443.45M | 413.06M |
| Current Income Taxes Payable | 468.71M | 340.28M | 403.40M | 283.17M | 249.90M | 191.64M |
| Current Unearned Revenue | 11.98M | 10.51M | 15.19M | 17.98M | 55.02M | 29.16M |
| Other Current Liabilities | 70.84M | 28.52M | 27.89M | 18.04M | 11.38M | 359.41M |
| Total Current Liabilities | 2.66B | 2.80B | 2.92B | 3.04B | 2.57B | 1.93B |
| Long-Term Leases | 1.97B | 1.89B | 1.73B | 1.63B | 1.13B | 1.06B |
| Other Long-Term Liabilities | 274.52M | 131.21M | 234.87M | 205.55M | 322.94M | |
| Total Liabilities | 4.90B | 4.82B | 4.89B | 4.88B | 4.02B | 2.99B |
| Common Stock | 136.80M | 136.80M | 136.80M | 136.80M | 136.80M | 136.80M |
| Retained Earnings | 2.81B | 2.44B | 2.88B | 3.06B | 3.25B | 3.25B |
| Comprehensive Income & Other | 60.63M | 60.63M | 60.63M | |||
| Shareholders' Equity | 2.94B | 2.58B | 3.01B | 3.25B | 3.45B | 3.45B |
| Total Liabilities & Equity | 7.84B | 7.40B | 7.90B | 8.13B | 7.47B | 6.44B |
| Total Debt | 2.40B | 2.23B | 2.03B | 2.04B | 1.57B | 1.48B |
| Net Cash (Debt) | -1.65B | -1.78B | -1.44B | -1.06B | -305.96M | -853.15M |
| Net Cash Per Share | -120.49 | -129.91 | -105.31 | -77.31 | -22.37 | -62.37 |
| Filing Date Shares Outstanding | 13.68M | 13.68M | 13.68M | 13.68M | 13.68M | 13.68M |
| Total Common Shares Outstanding | 13.68M | 13.68M | 13.68M | 13.68M | 13.68M | 13.68M |
| Working Capital | 1.36B | 931.51M | 1.32B | 1.42B | 1.81B | 1.73B |
| Book Value Per Share | 215.08 | 188.72 | 220.22 | 237.93 | 252.16 | 252.33 |
| Tangible Book Value | 2.91B | 2.54B | 2.99B | 3.25B | 3.45B | 3.45B |
| Tangible Book Value Per Share | 212.76 | 185.90 | 218.29 | 237.68 | 252.16 | 252.33 |
| Land | 86.06M | 86.06M | 86.06M | 86.06M | 86.06M | 86.06M |
| Buildings | 497.94M | 496.54M | 491.71M | 465.07M | 432.85M | 421.71M |
| Machinery | 2.61B | 2.53B | 2.47B | 2.41B | 2.26B | 2.17B |
| Construction In Progress | 51.88M | 30.73M | 17.53M | 18.56M | 3.51M | 25.23M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 244.05M | 11.58M | 295.74M | 400.99M | 410.11M | -68.48M |
| Depreciation & Amortization | 784.18M | 747.06M | 727.80M | 717.91M | 722.05M | 702.47M |
| Other Amortization | 1.50M | 1.50M | 267.61K | 45.91K | ||
| Loss (Gain) From Sale of Assets | 6.12M | 9.98M | 4.84M | 26.43M | 10.71M | |
| Provision & Write-off of Bad Debts | -275.00K | -275.00K | -2.39M | |||
| Other Operating Activities | 39.48M | -75.17M | 83.25M | 12.94M | 123.72M | -97.16M |
| Change in Accounts Receivable | -69.87M | -17.13M | 2.74M | -6.57M | 31.49M | 151.83M |
| Change in Inventory | 836.92M | 416.26M | -153.92M | -362.80M | -258.39M | 144.24M |
| Change in Accounts Payable | 143.54M | -197.91M | -152.09M | 505.25M | 495.99M | -128.58M |
| Change in Unearned Revenue | 496.27K | -4.68M | -2.79M | -37.04M | 25.86M | 8.23M |
| Change in Other Net Operating Assets | -710.53M | -54.72M | 173.54M | 52.50M | -101.96M | 531.14M |
| Operating Cash Flow | 1.28B | 836.50M | 976.99M | 1.28B | 1.48B | 1.25B |
| Capital Expenditures | -168.83M | -143.97M | -162.29M | -332.35M | -235.32M | -69.85M |
| Sale of Property, Plant & Equipment | 2.11M | 3.65M | 3.29M | 5.10M | 5.60M | 1.32M |
| Sale (Purchase) of Intangibles | -13.48M | -13.48M | -2.57M | -826.45K | ||
| Investing Cash Flow | -180.20M | -153.80M | -161.58M | -328.07M | -229.72M | -68.54M |
| Long-Term Debt Repaid | -480.64M | -519.80M | -574.58M | -435.75M | -520.48M | |
| Lease Payments | -541.63M | -480.64M | -519.80M | -574.58M | -435.75M | -520.48M |
| Net Debt Issued (Repaid) | -541.63M | -480.64M | -519.80M | -574.58M | -435.75M | -520.48M |
| Common Dividends Paid | -479.43M | -339.26M | -686.51M | -664.35M | -166.47M | -171.35M |
| Financing Cash Flow | -1.02B | -819.91M | -1.21B | -1.24B | -602.22M | -691.83M |
| Foreign Exchange Rate Adjustments | -2.19M | -981.98K | 2.75M | -1.58M | -1.09M | 2.83M |
| Net Cash Flow | 72.16M | -138.19M | -388.14M | -285.37M | 642.28M | 496.86M |
| Free Cash Flow | 1.11B | 692.52M | 814.70M | 950.87M | 1.24B | 1.18B |
| Free Cash Flow Margin | 11.43% | 7.56% | 8.78% | 9.63% | 12.58% | 15.29% |
| Free Cash Flow Per Share | 80.90 | 50.62 | 59.55 | 69.51 | 90.64 | 86.59 |
| Levered Free Cash Flow | 1.06B | 919.39M | 716.24M | 958.83M | 1.59B | 1.34B |
| Unlevered Free Cash Flow | 1.22B | 1.06B | 833.67M | 1.06B | 1.68B | 1.43B |
| Free Cash Flow After Leases | 565.15M | 211.88M | 294.90M | 376.29M | 804.23M | 664.07M |
| Cash Interest Paid | 227.67M | 227.67M | 214.86M | 277.33M | 262.90M | 156.88M |
| Cash Income Tax Paid | 220.73M | 259.12M | 162.78M | 174.73M | 158.74M | 109.73M |
| Change in Working Capital | 200.55M | 141.82M | -132.51M | 151.32M | 193.00M | 706.86M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 12.08B | 11.00B | 12.39B | 13.23B | 13.03B | 13.23B |
| Enterprise Value | 13.73B | 12.41B | 13.86B | 14.09B | 13.70B | 14.06B |
| Last Close Price | 883.00 | 794.18 | 867.94 | 882.64 | 831.18 | 818.96 |
| PE Ratio | 49.50 | 949.80 | 41.88 | 32.99 | 31.77 | |
| Forward PE | 27.00 | 15.90 | 17.04 | 35.25 | 7.18 | |
| PS Ratio | 1.25 | 1.20 | 1.33 | 1.34 | 1.32 | 1.71 |
| PB Ratio | 4.11 | 4.26 | 4.11 | 4.06 | 3.78 | 3.83 |
| P/TBV Ratio | 4.15 | 4.33 | 4.15 | 4.07 | 3.78 | 3.83 |
| P/FCF Ratio | 10.91 | 15.88 | 15.20 | 13.91 | 10.51 | 11.17 |
| P/OCF Ratio | 9.47 | 13.15 | 12.68 | 10.31 | 8.83 | 10.54 |
| PEG Ratio | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | |
| EV/Sales Ratio | 1.42 | 1.35 | 1.49 | 1.43 | 1.39 | 1.81 |
| EV/EBITDA Ratio | 9.27 | 21.43 | 15.29 | 14.01 | 11.38 | 40.95 |
| EV/EBIT Ratio | 19.69 | 30.36 | 18.84 | 16.59 | 12.99 | 75.43 |
| EV/FCF Ratio | 12.40 | 17.92 | 17.01 | 14.82 | 11.05 | 11.87 |
| Debt / Equity Ratio | 0.82 | 0.86 | 0.68 | 0.63 | 0.46 | 0.43 |
| Debt / EBITDA Ratio | 1.62 | 1.93 | 1.39 | 1.30 | 0.88 | 1.66 |
| Debt / FCF Ratio | 2.17 | 3.22 | 2.49 | 2.14 | 1.27 | 1.25 |
| Net Debt / Equity Ratio | 0.56 | 0.69 | 0.48 | 0.33 | 0.09 | 0.25 |
| Net Debt / EBITDA Ratio | 1.89 | 3.07 | 1.59 | 1.05 | 0.25 | 2.48 |
| Net Debt / FCF Ratio | 1.49 | 2.57 | 1.77 | 1.11 | 0.25 | 0.72 |
| Asset Turnover | 1.25 | 1.20 | 1.16 | 1.27 | 1.42 | 1.19 |
| Inventory Turnover | 1.81 | 1.61 | 1.45 | 1.71 | 1.93 | 1.77 |
| Quick Ratio | 0.31 | 0.17 | 0.21 | 0.33 | 0.49 | 0.34 |
| Current Ratio | 1.51 | 1.33 | 1.45 | 1.47 | 1.70 | 1.90 |
| Return on Equity (ROE) | 8.02% | 0.41% | 9.44% | 11.96% | 11.88% | -1.92% |
| Return on Assets (ROA) | 5.63% | 3.34% | 5.74% | 6.80% | 9.48% | 1.78% |
| Return on Invested Capital (ROIC) | 7.83% | 0.54% | 8.98% | 11.17% | 13.09% | -5.62% |
| Return on Capital Employed (ROCE) | 13.50% | 8.90% | 14.80% | 16.70% | 21.50% | 4.10% |
| Earnings Yield | 2.02% | 0.10% | 2.39% | 3.03% | 3.15% | -0.52% |
| FCF Yield | 9.16% | 6.30% | 6.58% | 7.19% | 9.52% | 8.96% |
| Dividend Yield | 2.81% | 3.08% | 4.92% | 4.50% | 3.83% | 1.03% |
| Payout Ratio | 196.44% | 2,929.38% | 232.13% | 165.68% | 40.59% | |
| Total Shareholder Return | 2.81% | 3.08% | 4.92% | 4.50% | 3.83% | 1.03% |