DSE : BSC
Bangladesh Shipping Corporation — Financial statements
Deep Sea Foreign Transportation of Freight · Bangladesh
Last price 103.5 BDT (At close: Oct 29, 2026) · Market cap 15.79B
Latest research: Bangladesh Shipping Corporation valuation report: fair value BDT 49.3–70.4 (Oct 2026) · Bangladesh Shipping's 7-ship fleet earns 11–14% ROE against an 17% cost of equity: fair value range BDT 49–70
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Technical report: trend, RSI, support and resistance, charts
Financial statements
Bangladesh Shipping Corporation (BSC) reported revenue of 5.85B BDT (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 5.85B | 5.63B | 4.88B | 5.15B | 4.50B | 2.74B |
| Revenue | 5.85B | 5.63B | 4.88B | 5.15B | 4.50B | 2.74B |
| Cost of Revenue | 2.75B | 2.78B | 1.76B | 2.72B | 1.56B | 1.49B |
| Gross Profit | 3.10B | 2.84B | 3.12B | 2.43B | 2.94B | 1.26B |
| Selling, General & Admin | 704.82M | 623.13M | 574.15M | 524.24M | 537.74M | 448.45M |
| Other Operating Expenses | 11.65M | 21.60M | 38.35M | 43.73M | 34.18M | 23.50M |
| Operating Expenses | 716.46M | 644.72M | 612.49M | 567.97M | 571.93M | 471.95M |
| Operating Income | 2.38B | 2.20B | 2.51B | 1.87B | 2.37B | 784.02M |
| Interest Expense | -711.58M | -720.68M | -732.82M | -459.30M | -309.25M | -309.25M |
| Interest & Investment Income | 1.44B | 1.70B | 973.08M | 741.29M | 534.79M | 399.39M |
| Currency Exchange Gain (Loss) | 14.54M | 22.04M | 10.47M | 672.34M | 51.25M | 74.13K |
| Other Non Operating Income (Expenses) | 91.45M | 97.27M | 89.88M | 95.75M | 85.51M | 82.75M |
| EBT Excluding Unusual Items | 3.22B | 3.30B | 2.85B | 2.92B | 2.73B | 957.00M |
| Gain (Loss) on Sale of Assets | -23.40M | 236.51M | ||||
| Pretax Income | 3.59B | 3.82B | 2.85B | 2.92B | 2.73B | 957.00M |
| Income Tax Expense | 720.94M | 754.48M | 348.96M | 452.90M | 472.65M | 236.79M |
| Net Income | 2.87B | 3.07B | 2.50B | 2.46B | 2.26B | 720.21M |
| Net Income to Common | 2.87B | 3.07B | 2.50B | 2.46B | 2.26B | 720.21M |
| Shares Outstanding (Basic) | 152.54M | 152.54M | 152.54M | 152.54M | 152.54M | 152.54M |
| Shares Outstanding (Diluted) | 152.54M | 152.54M | 152.54M | 152.54M | 152.54M | 152.54M |
| EPS (Basic) | 18.83 | 20.10 | 16.37 | 16.15 | 14.80 | 4.72 |
| EPS (Diluted) | 18.83 | 20.10 | 16.37 | 16.15 | 14.80 | 4.72 |
| Free Cash Flow | -8.21B | 1.70B | 4.08B | 3.22B | 3.62B | 1.94B |
| Free Cash Flow Per Share | -53.85 | 11.13 | 26.78 | 21.13 | 23.72 | 12.70 |
| Dividend Per Share | 2.50 | 2.50 | 2.50 | 2.50 | 2.00 | 1.20 |
| Gross Margin | 52.92% | 50.53% | 63.92% | 47.22% | 65.40% | 45.79% |
| Operating Margin | 40.67% | 39.07% | 51.36% | 36.20% | 52.68% | 28.59% |
| Profit Margin | 49.11% | 54.49% | 51.19% | 47.78% | 50.23% | 26.26% |
| Free Cash Flow Margin | -140.44% | 30.19% | 83.75% | 62.54% | 80.49% | 70.61% |
| EBITDA | 2.88B | 2.63B | 3.00B | 2.36B | 2.87B | 1.29B |
| EBITDA Margin | 49.19% | 46.74% | 61.41% | 45.71% | 63.84% | 46.98% |
| D&A For EBITDA | 498.52M | 431.37M | 490.21M | 490.21M | 501.82M | 504.58M |
| EBIT | 2.38B | 2.20B | 2.51B | 1.87B | 2.37B | 784.02M |
| EBIT Margin | 40.67% | 39.07% | 51.36% | 36.20% | 52.68% | 28.59% |
| Effective Tax Rate | 20.06% | 19.75% | 12.26% | 15.53% | 17.31% | 24.74% |
| Revenue as Reported | 6.25B | 5.91B | 4.88B | 5.15B | 4.50B | 2.74B |
Balance sheet
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.07B | 1.88B | 1.80B | 1.69B | 1.04B | 750.85M |
| Short-Term Investments | 8.87B | 16.02B | 18.01B | 14.52B | 10.02B | 7.12B |
| Cash & Short-Term Investments | 9.94B | 17.90B | 19.80B | 16.20B | 11.06B | 7.87B |
| Accounts Receivable | 539.11M | 615.63M | 688.31M | 373.27M | 470.37M | 274.76M |
| Other Receivables | 697.39M | 1.13B | 924.43M | 912.12M | 622.50M | 609.78M |
| Receivables | 1.24B | 1.75B | 1.61B | 1.29B | 1.09B | 884.89M |
| Inventory | 82.77M | 106.37M | 131.59M | 72.10M | 79.05M | 121.32M |
| Other Current Assets | 1.71B | 1.03B | 734.20M | 532.40M | 412.82M | 583.80M |
| Total Current Assets | 12.97B | 20.78B | 22.28B | 18.10B | 12.65B | 9.46B |
| Property, Plant & Equipment | 24.24B | 15.05B | 15.83B | 16.16B | 18.41B | 18.89B |
| Other Long-Term Assets | 1.00 | 2.00 | 1.00 | |||
| Total Assets | 37.20B | 35.83B | 38.12B | 34.25B | 31.05B | 28.35B |
| Accrued Expenses | 1.45B | 1.25B | 3.16B | 2.57B | 2.05B | 1.98B |
| Current Portion of Long-Term Debt | 560.65M | 1.13B | 6.12M | 6.12M | 6.12M | 6.12M |
| Current Income Taxes Payable | 2.61B | 2.12B | 1.36B | 992.82M | 543.97M | 228.15M |
| Other Current Liabilities | 768.73M | 1.13B | 1.70B | 997.22M | 901.18M | 337.64M |
| Total Current Liabilities | 5.39B | 5.63B | 6.23B | 4.57B | 3.50B | 2.56B |
| Long-Term Debt | 13.44B | 13.44B | 15.55B | 15.66B | 15.67B | 15.68B |
| Pension & Post-Retirement Benefits | 16.71K | 7.52M | 7.79M | 14.83M | 44.22M | 292.68M |
| Long-Term Deferred Tax Liabilities | 760.01M | 761.21M | 772.57M | 786.94M | 782.89M | 626.07M |
| Other Long-Term Liabilities | 1.00 | |||||
| Total Liabilities | 19.59B | 19.84B | 22.56B | 21.03B | 19.99B | 19.15B |
| Common Stock | 1.53B | 1.53B | 1.53B | 1.53B | 1.53B | 1.53B |
| Additional Paid-In Capital | 4.65B | 4.65B | 4.65B | 4.65B | 4.65B | 4.65B |
| Retained Earnings | 7.63B | 6.01B | 5.07B | 2.84B | 683.02M | -1.19B |
| Comprehensive Income & Other | 3.80B | 3.80B | 4.31B | 4.21B | 4.21B | 4.21B |
| Shareholders' Equity | 17.61B | 15.99B | 15.55B | 13.22B | 11.06B | 9.19B |
| Total Liabilities & Equity | 37.20B | 35.83B | 38.12B | 34.25B | 31.05B | 28.35B |
| Total Debt | 14.00B | 14.56B | 15.56B | 15.67B | 15.67B | 15.69B |
| Net Cash (Debt) | -4.07B | 3.33B | 4.24B | 536.97M | -4.61B | -7.81B |
| Net Cash Per Share | -26.65 | 21.86 | 27.83 | 3.52 | -30.23 | -51.22 |
| Filing Date Shares Outstanding | 152.54M | 152.54M | 152.54M | 152.54M | 152.54M | 152.54M |
| Total Common Shares Outstanding | 152.54M | 152.54M | 152.54M | 152.54M | 152.54M | 152.54M |
| Working Capital | 7.58B | 15.15B | 16.05B | 13.52B | 9.15B | 6.91B |
| Book Value Per Share | 115.45 | 104.84 | 101.97 | 86.67 | 72.52 | 60.28 |
| Tangible Book Value | 17.61B | 15.99B | 15.55B | 13.22B | 11.06B | 9.19B |
| Tangible Book Value Per Share | 115.45 | 104.84 | 101.97 | 86.67 | 72.52 | 60.28 |
| Land | 3.83B | 3.83B | 3.83B | |||
| Buildings | 1.03B | 1.03B | 1.02B | |||
| Machinery | 13.75B | 15.61B | 15.59B | |||
| Construction In Progress | 105.14M | 164.66M | 164.66M |
Cash flow statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.87B | 3.07B | 2.50B | 2.46B | 2.26B | 720.21M |
| Depreciation & Amortization | 498.52M | 431.37M | 490.21M | 490.21M | 501.82M | 504.58M |
| Loss (Gain) From Sale of Assets | -236.51M | -236.51M | ||||
| Other Operating Activities | -1.76B | -1.57B | 150.17M | 600.31M | 327.59M | 498.91M |
| Change in Accounts Receivable | 206.96M | -342.62M | 367.98M | -192.53M | 203.43M | 156.65M |
| Change in Inventory | 39.74M | 25.22M | -59.48M | 6.95M | 42.27M | 17.51M |
| Change in Accounts Payable | -236.43M | 452.61M | 677.89M | 166.94M | 336.64M | 82.05M |
| Change in Other Net Operating Assets | 16.10M | -6.78M | 617.52M | -84.84M | -29.08M | -29.84M |
| Operating Cash Flow | 1.40B | 1.82B | 4.74B | 3.45B | 3.64B | 1.95B |
| Capital Expenditures | -9.61B | -125.15M | -656.40M | -226.40M | -22.04M | -13.47M |
| Sale of Property, Plant & Equipment | 299.27M | 403.62M | 1.56B | |||
| Investment in Securities | 6.57B | 1.99B | -3.49B | -4.50B | -2.90B | -2.29B |
| Investing Cash Flow | -2.85B | 2.27B | -4.14B | -3.17B | -2.92B | -2.31B |
| Long-Term Debt Issued | 12.25M | |||||
| Long-Term Debt Repaid | -3.63B | -109.32M | -6.12M | -12.25M | ||
| Net Debt Issued (Repaid) | 1.13B | -3.63B | -109.32M | -6.12M | -12.25M | 12.25M |
| Common Dividends Paid | -368.16M | -379.14M | -377.00M | -304.43M | -416.98M | -70.47M |
| Financing Cash Flow | 763.20M | -4.01B | -486.33M | -310.55M | -429.23M | -58.23M |
| Foreign Exchange Rate Adjustments | 1.46M | 672.34M | 51.25M | 74.14K | ||
| Miscellaneous Cash Flow Adjustments | -3.00 | -3.00 | 2.00 | -51.25M | -6.00 | |
| Net Cash Flow | -687.64M | 84.85M | 110.24M | 645.53M | 289.15M | -414.11M |
| Free Cash Flow | -8.21B | 1.70B | 4.08B | 3.22B | 3.62B | 1.94B |
| Free Cash Flow Margin | -140.44% | 30.19% | 83.75% | 62.54% | 80.49% | 70.61% |
| Free Cash Flow Per Share | -53.85 | 11.13 | 26.78 | 21.13 | 23.72 | 12.70 |
| Levered Free Cash Flow | -8.08B | -892.62M | 2.01B | 1.91B | 2.71B | 1.34B |
| Unlevered Free Cash Flow | -7.64B | -442.19M | 2.47B | 2.20B | 2.91B | 1.54B |
| Cash Interest Paid | 2.38B | 2.03B | 115.72M | 1.47M | 3.86M | |
| Cash Income Tax Paid | 442.00M | 288.54M | 93.55M | 64.13M | 48.40M | 38.96M |
| Change in Working Capital | 26.37M | 128.43M | 1.60B | -103.48M | 553.26M | 226.37M |
Ratios
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 15.79B | 13.79B | 15.54B | 19.28B | 17.89B | 6.88B |
| Enterprise Value | 19.85B | 11.59B | 17.66B | 21.24B | 23.39B | 15.21B |
| Last Close Price | 103.50 | 88.25 | 96.75 | 117.31 | 107.01 | 40.75 |
| PE Ratio | 5.50 | 4.50 | 6.22 | 7.83 | 7.92 | 9.55 |
| PS Ratio | 2.70 | 2.45 | 3.19 | 3.74 | 3.98 | 2.51 |
| PB Ratio | 0.90 | 0.86 | 1.00 | 1.46 | 1.62 | 0.75 |
| P/TBV Ratio | 0.90 | 0.86 | 1.00 | 1.46 | 1.62 | 0.75 |
| P/FCF Ratio | 8.12 | 3.81 | 5.98 | 4.94 | 3.55 | |
| P/OCF Ratio | 11.28 | 7.56 | 3.28 | 5.59 | 4.92 | 3.53 |
| EV/Sales Ratio | 3.39 | 2.06 | 3.62 | 4.12 | 5.20 | 5.54 |
| EV/EBITDA Ratio | 6.90 | 4.41 | 5.89 | 9.02 | 8.15 | 11.80 |
| EV/EBIT Ratio | 8.35 | 5.27 | 7.05 | 11.38 | 9.88 | 19.39 |
| EV/FCF Ratio | 6.82 | 4.32 | 6.59 | 6.46 | 7.85 | |
| Debt / Equity Ratio | 0.80 | 0.91 | 1.00 | 1.19 | 1.42 | 1.71 |
| Debt / EBITDA Ratio | 4.87 | 5.54 | 5.19 | 6.65 | 5.46 | 12.17 |
| Debt / FCF Ratio | 8.57 | 3.81 | 4.86 | 4.33 | 8.10 | |
| Net Debt / Equity Ratio | 0.23 | -0.21 | -0.27 | -0.04 | 0.42 | 0.85 |
| Net Debt / EBITDA Ratio | 1.41 | -1.27 | -1.42 | -0.23 | 1.61 | 6.06 |
| Net Debt / FCF Ratio | -0.49 | -1.96 | -1.04 | -0.17 | 1.27 | 4.03 |
| Asset Turnover | 0.16 | 0.15 | 0.14 | 0.16 | 0.15 | 0.10 |
| Inventory Turnover | 26.83 | 23.39 | 17.28 | 36.00 | 15.53 | 11.43 |
| Quick Ratio | 2.07 | 3.49 | 3.44 | 3.83 | 3.48 | 3.43 |
| Current Ratio | 2.41 | 3.69 | 3.58 | 3.96 | 3.62 | 3.70 |
| Return on Equity (ROE) | 17.61% | 19.44% | 17.36% | 20.29% | 22.29% | 8.12% |
| Return on Assets (ROA) | 4.10% | 3.72% | 4.33% | 3.57% | 4.98% | 1.77% |
| Return on Invested Capital (ROIC) | 8.87% | 14.72% | 18.32% | 11.12% | 11.98% | 3.35% |
| Return on Capital Employed (ROCE) | 7.50% | 7.30% | 7.90% | 6.30% | 8.60% | 3.00% |
| Earnings Yield | 18.20% | 22.23% | 16.06% | 12.77% | 12.62% | 10.47% |
| FCF Yield | -52.03% | 12.32% | 26.28% | 16.72% | 20.22% | 28.15% |
| Dividend Yield | 2.42% | 2.77% | 2.45% | 1.98% | 1.70% | 2.66% |
| Payout Ratio | 12.82% | 12.37% | 15.10% | 12.36% | 18.47% | 9.79% |
| Total Shareholder Return | 2.42% | 2.77% | 2.45% | 1.98% | 1.70% | 2.66% |