DSE : LHB
LafargeHolcim Bangladesh PLC. — Financial statements
Cement, Hydraulic · Bangladesh
Last price 48.7 BDT (At close: Oct 29, 2026) · Market cap 56.56B
Latest research: LafargeHolcim Bangladesh valuation report: fair value BDT 18.1–41.8 (Oct 2026) · Aggregates now earn 80% of LafargeHolcim's profit; cement margins carry the risk
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Financial statements
LafargeHolcim Bangladesh PLC. (LHB) reported revenue of 30.67B 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 | 30.67B | 29.31B | 27.54B | 28.39B | 23.59B | 20.53B |
| Cost of Revenue | 22.60B | 20.47B | 19.30B | 18.12B | 15.26B | 13.89B |
| Gross Profit | 8.07B | 8.85B | 8.24B | 10.27B | 8.33B | 6.64B |
| Selling, General & Admin | 2.34B | 2.34B | 2.40B | 2.61B | 2.40B | 1.96B |
| Other Operating Expenses | -27.72M | -39.05M | -117.52M | -100.70M | -44.62M | -133.32M |
| Operating Expenses | 2.32B | 2.30B | 2.28B | 2.51B | 2.35B | 1.82B |
| Operating Income | 5.75B | 6.55B | 5.97B | 7.76B | 5.98B | 4.82B |
| Interest Expense | -47.09M | -11.36M | -6.30M | -7.56M | -6.74M | -2.37M |
| Interest & Investment Income | 240.44M | 224.86M | 178.69M | 167.74M | 49.17M | 26.73M |
| Currency Exchange Gain (Loss) | 18.33M | 18.33M | -375.68M | -117.82M | -238.64M | -5.24M |
| Other Non Operating Income (Expenses) | -5.34M | -5.34M | -115.11M | -83.69M | -30.55M | -12.39M |
| EBT Excluding Unusual Items | 5.96B | 6.78B | 5.65B | 7.71B | 5.76B | 4.82B |
| Gain (Loss) on Sale of Assets | 1.70M | 1.70M | -90.19M | 1.98M | -12.02M | 2.73M |
| Asset Writedown | -73.00K | -73.00K | ||||
| Pretax Income | 5.96B | 6.78B | 5.56B | 7.72B | 5.74B | 4.83B |
| Income Tax Expense | 1.61B | 1.67B | 1.74B | 1.77B | 1.30B | 945.82M |
| Earnings From Continuing Operations | 4.35B | 5.11B | 3.82B | 5.94B | 4.44B | 3.88B |
| Minority Interest in Earnings | 6.00K | 6.00K | 19.00K | 367.00K | 29.00K | 30.00K |
| Net Income | 4.35B | 5.11B | 3.82B | 5.94B | 4.44B | 3.88B |
| Net Income to Common | 4.35B | 5.11B | 3.82B | 5.94B | 4.44B | 3.88B |
| Shares Outstanding (Basic) | 1.16B | 1.16B | 1.16B | 1.16B | 1.16B | 1.16B |
| Shares Outstanding (Diluted) | 1.16B | 1.16B | 1.16B | 1.16B | 1.16B | 1.16B |
| EPS (Basic) | 3.75 | 4.40 | 3.29 | 5.12 | 3.83 | 3.34 |
| EPS (Diluted) | 3.75 | 4.40 | 3.29 | 5.12 | 3.83 | 3.34 |
| Free Cash Flow | 493.55M | 4.40B | 6.69B | 7.55B | 5.99B | 5.13B |
| Free Cash Flow Per Share | 0.42 | 3.79 | 5.76 | 6.50 | 5.16 | 4.42 |
| Dividend Per Share | 2.20 | 4.00 | 3.80 | 5.00 | 4.80 | 2.50 |
| Gross Margin | 26.31% | 30.18% | 29.94% | 36.18% | 35.32% | 32.34% |
| Operating Margin | 18.75% | 22.35% | 21.66% | 27.32% | 25.36% | 23.46% |
| Profit Margin | 14.19% | 17.43% | 13.87% | 20.93% | 18.84% | 18.90% |
| Free Cash Flow Margin | 1.61% | 15.01% | 24.30% | 26.59% | 25.40% | 24.99% |
| EBITDA | 7.32B | 8.00B | 7.27B | 9.01B | 7.31B | 6.08B |
| EBITDA Margin | 23.85% | 27.30% | 26.39% | 31.75% | 31.00% | 29.59% |
| D&A For EBITDA | 1.56B | 1.45B | 1.30B | 1.26B | 1.33B | 1.26B |
| EBIT | 5.75B | 6.55B | 5.97B | 7.76B | 5.98B | 4.82B |
| EBIT Margin | 18.75% | 22.35% | 21.66% | 27.32% | 25.36% | 23.46% |
| Effective Tax Rate | 27.01% | 24.64% | 31.29% | 23.00% | 22.62% | 19.59% |
| Advertising Expenses | 312.83M | 365.89M | 249.78M | 341.29M | 234.69M |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.34B | 9.52B | 9.60B | 9.35B | 4.84B | 5.28B |
| Cash & Short-Term Investments | 2.34B | 9.52B | 9.60B | 9.35B | 4.84B | 5.28B |
| Accounts Receivable | 883.31M | 808.53M | 503.21M | 504.24M | 525.71M | 556.66M |
| Other Receivables | 4.22B | 3.85B | 3.62B | 1.73B | 1.18B | |
| Receivables | 883.31M | 5.03B | 4.36B | 4.12B | 2.25B | 1.74B |
| Inventory | 5.09B | 3.85B | 3.94B | 3.44B | 2.93B | 2.90B |
| Prepaid Expenses | 89.46M | 58.67M | 21.31M | 34.00M | 41.86M | |
| Other Current Assets | 8.12B | 3.18B | 528.54M | 1.29B | 389.75M | 748.36M |
| Total Current Assets | 16.43B | 21.66B | 18.49B | 18.22B | 10.45B | 10.71B |
| Property, Plant & Equipment | 19.56B | 18.44B | 16.60B | 17.07B | 17.60B | 16.38B |
| Goodwill | 317.78M | 317.78M | 317.78M | 317.78M | 317.78M | |
| Other Intangible Assets | 1.05B | 860.77M | 950.05M | 589.16M | 603.49M | 2.21B |
| Other Long-Term Assets | 652.77M | 90.08M | 217.46M | 77.49M | ||
| Total Assets | 37.69B | 41.38B | 36.58B | 36.27B | 28.97B | 29.62B |
| Accounts Payable | 13.45B | 13.60B | 12.60B | 9.09B | 6.91B | 6.06B |
| Short-Term Debt | 232.58M | |||||
| Current Portion of Long-Term Debt | 1.76M | 23.75M | 23.64M | 6.68M | 1.94M | |
| Current Portion of Leases | 33.93M | 38.72M | 28.35M | 27.40M | 27.58M | 29.28M |
| Current Income Taxes Payable | 213.40M | 555.59M | 332.31M | |||
| Current Unearned Revenue | 3.61B | 1.75B | 960.49M | 309.08M | 233.62M | |
| Other Current Liabilities | 2.80B | 3.01B | 1.22B | 1.19B | 1.33B | 829.78M |
| Total Current Liabilities | 16.29B | 20.47B | 15.86B | 11.85B | 8.92B | 7.15B |
| Long-Term Leases | 48.30M | 60.81M | 102.14M | 112.36M | 3.84M | 29.11M |
| Pension & Post-Retirement Benefits | 798.68M | 200.46M | 157.42M | 180.83M | 216.79M | 317.15M |
| Long-Term Deferred Tax Liabilities | 1.34B | 1.48B | 1.77B | 1.83B | 2.06B | 2.28B |
| Other Long-Term Liabilities | 107.41M | 105.43M | 97.41M | 80.61M | 67.20M | 50.49M |
| Total Liabilities | 18.58B | 22.31B | 17.98B | 14.05B | 11.26B | 9.83B |
| Common Stock | 11.61B | 11.61B | 11.61B | 11.61B | 11.61B | 11.61B |
| Retained Earnings | 6.93B | 6.69B | 5.88B | 10.07B | 5.87B | 8.16B |
| Comprehensive Income & Other | 565.28M | 761.32M | 1.10B | 541.51M | 225.23M | 17.33M |
| Total Common Equity | 19.11B | 19.06B | 18.59B | 22.23B | 17.71B | 19.79B |
| Minority Interest | -542.00K | -488.00K | -584.00K | -527.00K | -180.00K | -210.00K |
| Shareholders' Equity | 19.11B | 19.06B | 18.59B | 22.23B | 17.71B | 19.79B |
| Total Liabilities & Equity | 37.69B | 41.38B | 36.58B | 36.27B | 28.97B | 29.62B |
| Total Debt | 82.23M | 101.30M | 386.82M | 163.41M | 38.10M | 60.33M |
| Net Cash (Debt) | 2.26B | 9.42B | 9.21B | 9.18B | 4.81B | 5.22B |
| Net Cash Per Share | 1.95 | 8.11 | 7.93 | 7.91 | 4.14 | 4.49 |
| Filing Date Shares Outstanding | 1.16B | 1.16B | 1.16B | 1.16B | 1.16B | 1.16B |
| Total Common Shares Outstanding | 1.16B | 1.16B | 1.16B | 1.16B | 1.16B | 1.16B |
| Working Capital | 149.08M | 1.20B | 2.63B | 6.37B | 1.53B | 3.56B |
| Book Value Per Share | 16.45 | 16.41 | 16.01 | 19.14 | 15.25 | 17.04 |
| Tangible Book Value | 18.06B | 17.89B | 17.32B | 21.32B | 16.79B | 17.27B |
| Tangible Book Value Per Share | 15.55 | 15.40 | 14.92 | 18.36 | 14.46 | 14.87 |
| Land | 3.36B | 3.36B | 3.36B | 3.24B | 1.53B | |
| Buildings | 3.13B | 3.13B | 3.10B | 3.09B | 2.80B | |
| Machinery | 23.72B | 23.29B | 22.80B | 22.27B | 21.14B | |
| Construction In Progress | 2.73B | 384.23M | 190.73M | 240.17M | 641.65M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 4.35B | 5.11B | 3.82B | 5.94B | 4.44B | 3.88B |
| Depreciation & Amortization | 1.59B | 1.48B | 1.33B | 1.30B | 1.36B | 1.29B |
| Other Amortization | 5.51M | 5.51M | 2.58M | 658.00K | ||
| Other Operating Activities | -544.74M | -174.03M | -354.68M | -6.79M | 446.97M | 347.81M |
| Change in Other Net Operating Assets | -671.21M | 2.07B | 3.12B | 691.60M | 443.45M | 560.88M |
| Operating Cash Flow | 4.73B | 8.49B | 7.92B | 7.93B | 6.69B | 6.08B |
| Capital Expenditures | -4.24B | -4.09B | -1.23B | -376.98M | -701.44M | -945.77M |
| Sale of Property, Plant & Equipment | 833.00K | 1.70M | 26.07M | 2.15M | 23.39M | 7.93M |
| Sale (Purchase) of Intangibles | 12.95M | |||||
| Other Investing Activities | 132.13M | 215.38M | 196.42M | 152.85M | 45.00M | 26.98M |
| Investing Cash Flow | -4.09B | -3.87B | -1.01B | -221.98M | -633.05M | -910.86M |
| Short-Term Debt Issued | 232.58M | |||||
| Total Debt Issued | 232.58M | |||||
| Short-Term Debt Repaid | -232.58M | |||||
| Long-Term Debt Repaid | -30.95M | -30.76M | -42.93M | -26.96M | -29.18M | |
| Lease Payments | -24.41M | -30.95M | -30.76M | -42.93M | -26.96M | -29.18M |
| Total Debt Repaid | -24.41M | -263.53M | -30.76M | -42.93M | -26.96M | -29.18M |
| Net Debt Issued (Repaid) | -24.41M | -263.53M | 201.81M | -42.93M | -26.96M | -29.18M |
| Common Dividends Paid | -4.64B | -4.44B | -7.85B | -2.00B | -6.47B | -1.20B |
| Other Financing Activities | -55.08M | 39.44M | 889.42M | -1.17B | -21.77M | -14.75M |
| Financing Cash Flow | -4.72B | -4.67B | -6.76B | -3.22B | -6.52B | -1.25B |
| Foreign Exchange Rate Adjustments | -51.47M | -34.70M | 95.49M | 12.92M | 22.90M | -15.61M |
| Net Cash Flow | -4.13B | -83.28M | 255.37M | 4.50B | -433.00M | 3.90B |
| Free Cash Flow | 493.55M | 4.40B | 6.69B | 7.55B | 5.99B | 5.13B |
| Free Cash Flow Margin | 1.61% | 15.01% | 24.30% | 26.59% | 25.40% | 24.99% |
| Free Cash Flow Per Share | 0.42 | 3.79 | 5.76 | 6.50 | 5.16 | 4.42 |
| Levered Free Cash Flow | 244.14M | 3.08B | 7.59B | 5.41B | 5.98B | 4.70B |
| Unlevered Free Cash Flow | 273.58M | 3.09B | 7.59B | 5.42B | 5.98B | 4.70B |
| Free Cash Flow After Leases | 469.14M | 4.37B | 6.66B | 7.51B | 5.97B | 5.10B |
| Cash Interest Paid | 67.88M | 28.24M | 121.41M | 91.25M | 21.77M | 14.75M |
| Cash Income Tax Paid | 1.98B | 1.66B | 2.47B | 1.79B | 994.57M | 460.22M |
| Change in Working Capital | -671.21M | 2.07B | 3.12B | 691.60M | 443.45M | 560.88M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 56.56B | 54.24B | 62.60B | 80.48B | 75.26B | 82.57B |
| Enterprise Value | 54.30B | 47.87B | 56.94B | 73.10B | 71.24B | 78.68B |
| Last Close Price | 48.70 | 44.75 | 47.76 | 55.34 | 50.55 | 51.09 |
| PE Ratio | 13.00 | 10.62 | 16.39 | 13.54 | 16.93 | 21.27 |
| Forward PE | 15.49 | 13.20 | 11.37 | 16.67 | 16.78 | |
| PS Ratio | 1.84 | 1.85 | 2.27 | 2.83 | 3.19 | 4.02 |
| PB Ratio | 2.96 | 2.85 | 3.37 | 3.62 | 4.25 | 4.17 |
| P/TBV Ratio | 3.13 | 3.03 | 3.61 | 3.77 | 4.48 | 4.78 |
| P/FCF Ratio | 114.60 | 12.32 | 9.35 | 10.66 | 12.56 | 16.09 |
| P/OCF Ratio | 11.95 | 6.39 | 7.90 | 10.15 | 11.24 | 13.59 |
| PEG Ratio | 5.41 | 5.41 | 5.41 | 5.41 | 5.41 | |
| EV/Sales Ratio | 1.77 | 1.63 | 2.07 | 2.58 | 3.02 | 3.83 |
| EV/EBITDA Ratio | 7.39 | 5.98 | 7.83 | 8.11 | 9.74 | 12.95 |
| EV/EBIT Ratio | 9.44 | 7.31 | 9.54 | 9.43 | 11.91 | 16.33 |
| EV/FCF Ratio | 110.02 | 10.88 | 8.51 | 9.68 | 11.89 | 15.34 |
| Debt / Equity Ratio | 0.00 | 0.01 | 0.02 | 0.01 | 0.00 | 0.00 |
| Debt / EBITDA Ratio | 0.01 | 0.01 | 0.05 | 0.02 | 0.01 | 0.01 |
| Debt / FCF Ratio | 0.17 | 0.02 | 0.06 | 0.02 | 0.01 | 0.01 |
| Net Debt / Equity Ratio | -0.12 | -0.49 | -0.50 | -0.41 | -0.27 | -0.26 |
| Net Debt / EBITDA Ratio | -0.31 | -1.18 | -1.27 | -1.02 | -0.66 | -0.86 |
| Net Debt / FCF Ratio | -4.58 | -2.14 | -1.38 | -1.22 | -0.80 | -1.02 |
| Asset Turnover | 0.85 | 0.75 | 0.76 | 0.87 | 0.81 | 0.73 |
| Inventory Turnover | 5.22 | 5.25 | 5.23 | 5.69 | 5.23 | 5.46 |
| Quick Ratio | 0.20 | 0.71 | 0.88 | 1.14 | 0.80 | 0.98 |
| Current Ratio | 1.01 | 1.06 | 1.17 | 1.54 | 1.17 | 1.50 |
| Return on Equity (ROE) | 22.31% | 27.13% | 18.71% | 29.76% | 23.70% | 20.94% |
| Return on Assets (ROA) | 9.95% | 10.50% | 10.24% | 14.86% | 12.76% | 10.79% |
| Return on Invested Capital (ROIC) | 25.70% | 51.90% | 36.57% | 46.03% | 33.69% | 25.32% |
| Return on Capital Employed (ROCE) | 26.90% | 31.30% | 28.80% | 31.80% | 29.80% | 21.40% |
| Earnings Yield | 7.69% | 9.42% | 6.10% | 7.38% | 5.91% | 4.70% |
| FCF Yield | 0.87% | 8.12% | 10.69% | 9.38% | 7.96% | 6.21% |
| Dividend Yield | 8.21% | 8.57% | 7.05% | 7.22% | 7.41% | 3.52% |
| Payout Ratio | 106.66% | 86.97% | 205.48% | 33.70% | 145.52% | 30.98% |
| Total Shareholder Return | 8.21% | 8.57% | 7.05% | 7.22% | 7.41% | 3.52% |