How has Gulf Island Fabrication's net income changed over the last 10 years?

Gulf Island Fabrication's net income for the last 5 years looks like this: 2020: -$27.43 million 2021: -$22.17 million 2022: -$3.35 million 2023: -$24.40 million 2024: $14.74 million See Gulf Island Fabrication's forecast for analyst expectations on what's next for the company.

What is Gulf Island Fabrication's operating income?

Gulf Island Fabrication's total operating income in 2024 was $12.28 million, based on the following breakdown: Total Gross Profit: $22.25 million Total Operating Expenses: $9.97 million

Gulf Island Fabrication (GIFI) Financials

$12.00 0.00 (0.00%)

As of 07/13/2026

Compare

Annual Income Statements for Gulf Island Fabrication

This table shows Gulf Island Fabrication's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	15	-25	3.52	-45	-20	-49	-27	-22	-3.35	-24	15
Consolidated Net Income / (Loss)	15	-25	3.52	-45	-20	-49	-27	-22	-3.35	-24	15
Net Income / (Loss) Continuing Operations	15	-25	3.52	-45	-20	-49	-14	-4.80	0.00	0.00	0.00
Total Pre-Tax Income	24	-39	5.56	-69	-20	-49	-14	-4.82	-3.33	-24	15
Total Operating Income	24	-39	5.86	-69	-20	-50	-14	-13	-3.42	-26	12
Total Gross Profit	41	-22	25	-43	-7.20	-17	-7.87	1.66	7.90	-12	22
Total Revenue	507	306	286	171	221	303	118	93	142	151	159
Operating Revenue	507	306	286	171	221	303	118	93	142	151	159
Total Cost of Revenue	465	328	261	214	228	320	126	92	134	163	137
Operating Cost of Revenue	465	328	261	214	228	320	126	92	134	163	137
Total Operating Expenses	17	16	19	26	12	33	6.04	15	11	14	9.97
Selling, General & Admin Expense	17	16	20	18	19	16	13	12	18	16	14
Other Operating Expenses / (Income)	-	-	-0.68	-0.05	0.30	-0.13	-9.18	3.30	-6.90	-2.30	-3.55
Total Other Income / (Expense), net	-0.12	-0.12	-0.31	-0.35	-0.14	0.53	-0.27	8.66	0.09	1.44	2.41
Interest Expense	0.04	0.17	0.31	-	-	-	0.00	-9.06	0.00	0.00	0.00
Interest & Investment Income	0.01	0.03	-	-0.35	-0.14	0.53	-0.27	-0.40	0.09	1.44	2.41
Income Tax Expense	8.50	-13	2.04	-24	0.57	-0.10	-0.05	-0.02	0.02	-0.04	-0.05
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-13	-17	0.00	0.00	0.00
Basic Earnings per Share	$1.05	($1.75)	$0.24	($3.02)	($1.36)	($3.24)	($1.79)	($1.43)	($0.21)	($1.51)	$0.90
Weighted Average Basic Shares Outstanding	14.51M	14.55M	14.63M	14.84M	15M	15.29M	15.52M	15.78M	15.97M	16.20M	16.35M
Diluted Earnings per Share	$1.05	($1.75)	$0.24	($3.02)	($1.36)	($3.24)	($1.79)	($1.43)	($0.21)	($1.51)	$0.88
Weighted Average Diluted Shares Outstanding	14.51M	14.55M	14.63M	14.84M	15M	15.29M	15.52M	15.78M	15.97M	16.20M	16.35M
Weighted Average Basic & Diluted Shares Outstanding	14.51M	14.55M	14.63M	14.84M	15M	15.29M	15.52M	15.78M	15.97M	16.20M	16.35M

This table shows Gulf Island Fabrication's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-33	7.09	6.24	1.89	2.32	4.30	3.83	-0.57	1.56
Consolidated Net Income / (Loss)	-33	7.09	6.24	1.89	2.32	4.30	3.83	-0.57	1.56
Net Income / (Loss) Continuing Operations	-33	31	6.24	1.89	2.32	-10	3.83	-0.57	1.56
Total Pre-Tax Income	-33	7.06	6.25	1.89	2.32	4.24	3.83	-0.57	1.56
Total Operating Income	-34	6.68	5.71	1.28	1.67	3.62	3.28	-1.08	1.15
Total Gross Profit	-30	8.46	6.12	4.16	4.66	7.32	6.62	3.56	4.88
Total Revenue	5.02	45	43	41	38	37	40	38	52
Operating Revenue	5.02	45	43	41	38	37	40	38	52
Total Cost of Revenue	35	36	37	37	33	30	34	34	47
Operating Cost of Revenue	35	36	37	37	33	30	34	34	47
Total Operating Expenses	3.76	1.79	0.42	2.88	2.98	3.70	3.34	4.64	3.73
Selling, General & Admin Expense	4.08	3.40	3.48	3.35	2.99	3.70	3.24	3.29	3.65
Other Operating Expenses / (Income)	-0.32	-1.61	-3.07	-0.48	-0.00	0.00	0.10	1.35	0.08
Total Other Income / (Expense), net	0.40	0.38	0.54	0.60	0.65	0.62	0.55	0.51	0.41
Interest & Investment Income	0.40	0.38	0.54	0.60	0.65	0.62	0.55	0.51	0.41
Income Tax Expense	-0.00	-0.03	0.01	-0.00	0.00	-0.06	0.00	0.01	-0.00
Basic Earnings per Share	($2.04)	$0.42	$0.38	$0.12	$0.14	$0.26	$0.23	($0.04)	$0.10
Weighted Average Basic Shares Outstanding	16.29M	16.20M	16.28M	16.52M	16.35M	16.35M	16.22M	16.03M	16.00M
Diluted Earnings per Share	($2.04)	$0.42	$0.37	$0.11	$0.14	$0.26	$0.23	($0.04)	$0.10
Weighted Average Diluted Shares Outstanding	16.29M	16.20M	16.28M	16.52M	16.35M	16.35M	16.22M	16.03M	16.00M
Weighted Average Basic & Diluted Shares Outstanding	16.29M	16.20M	16.28M	16.52M	16.35M	16.35M	16.22M	16.03M	16.00M

This table details how cash moves in and out of Gulf Island Fabrication's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-0.48	-1.26	16	-42	61	-21	-6.54	11	-20	4.83	-11
Net Cash From Operating Activities	32	11	15	-39	-20	-7.14	-19	-25	-8.92	7.20	18
Net Cash From Continuing Operating Activities	32	11	15	-39	-20	-7.14	-19	-27	-8.92	7.20	18
Net Income / (Loss) Continuing Operations	15	-25	3.52	-45	-20	-49	-27	-22	-3.35	-24	15
Consolidated Net Income / (Loss)	15	-25	3.52	-45	-20	-49	-27	-22	-3.35	-24	15
Depreciation Expense	26	26	25	13	10	9.56	8.62	5.39	5.10	5.47	4.87
Non-Cash Adjustments To Reconcile Net Income	8.41	19	-35	7.27	-31	-3.99	-11	8.48	1.53	3.14	-8.03
Changes in Operating Assets and Liabilities, net	-18	-9.17	21	-15	20	37	10	-19	-12	23	6.67
Net Cash From Investing Activities	-27	-6.01	2.70	-1.14	83	-13	2.61	37	-8.87	-0.50	-26
Net Cash From Continuing Investing Activities	-27	-6.01	2.70	-1.14	83	-13	2.61	37	-8.87	-0.50	-26
Purchase of Property, Plant & Equipment	-28	-6.02	-6.80	-4.83	-3.48	-3.79	-11	-1.48	-3.09	-2.88	-5.34
Acquisitions	-	-	-	-	-	-	-	-7.57	0.00	0.00	0.00
Purchase of Investments	-	-	0.00	-	-9.61	-65	-59	0.00	-9.91	-39	-101
Sale of Property, Plant & Equipment	0.93	0.01	6.46	2.16	85	2.22	2.02	4.47	2.04	0.46	9.61
Divestitures	0.00	0.00	3.04	-	-	-	0.00	33	0.89	0.00	0.00
Sale and/or Maturity of Investments	-	-	0.00	-	1.20	54	71	8.00	0.00	41	70
Other Investing Activities, net	-	0.00	0.00	1.54	9.36	0.00	0.00	1.00	1.20	0.25	0.33
Net Cash From Financing Activities	-5.87	-5.94	-0.93	-1.66	-0.85	-0.84	9.86	-1.16	-1.97	-1.87	-3.46
Net Cash From Continuing Financing Activities	-5.87	-5.94	-0.93	-1.66	-0.85	-0.84	9.86	-1.16	-1.97	-1.87	-3.46
Repayment of Debt	-22	0.00	-0.12	-2.15	-15	-0.05	-0.07	-1.05	-	0.00	-1.08
Repurchase of Common Equity	-	-	-	-	-	-	-	-	0.00	-0.13	-1.20
Other Financing Activities, net	-	-0.08	-0.22	-0.92	-0.81	-0.80	-0.07	-0.11	-1.97	-1.74	-1.18
Cash Interest Paid	0.17	0.17	0.33	0.35	0.35	0.47	0.38	0.26	0.15	0.05	0.64

This table details how cash moves in and out of Gulf Island Fabrication's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025
Net Change in Cash & Equivalents	1.27	13	-5.71	-23	12	5.68	1.35	18	-24
Net Cash From Operating Activities	2.02	7.37	7.02	3.28	5.65	2.31	2.22	2.54	2.86
Net Cash From Continuing Operating Activities	2.02	7.37	7.02	3.28	5.65	2.31	2.22	2.54	2.86
Net Income / (Loss) Continuing Operations	-33	7.09	6.24	1.89	2.32	4.30	3.83	-0.57	1.56
Consolidated Net Income / (Loss)	-33	7.09	6.24	1.89	2.32	4.30	3.83	-0.57	1.56
Depreciation Expense	1.39	1.35	1.19	1.24	1.21	1.22	1.26	1.19	1.23
Non-Cash Adjustments To Reconcile Net Income	2.44	2.04	-4.93	2.52	-7.18	-2.43	-1.11	4.86	-5.41
Changes in Operating Assets and Liabilities, net	31	-3.11	4.52	-2.37	9.30	-0.79	-1.75	-2.94	5.48
Net Cash From Investing Activities	-0.63	6.09	-12	-25	6.78	4.77	-0.30	19	-26
Net Cash From Continuing Investing Activities	-0.63	6.09	-12	-25	6.78	4.77	-0.30	19	-26
Purchase of Property, Plant & Equipment	-0.65	-1.18	-2.55	-1.01	-1.31	-0.46	-0.31	-0.31	-0.20
Purchase of Investments	-15	-8.30	-22	-35	-14	-29	-14	-9.43	-40
Sale and/or Maturity of Investments	15	16	3.05	10	23	34	15	33	14
Net Cash From Financing Activities	-0.13	-0.13	-0.27	-1.18	-0.61	-1.40	-0.57	-3.66	-0.29
Net Cash From Continuing Financing Activities	-0.13	-0.13	-0.27	-1.18	-0.61	-1.40	-0.57	-3.66	-0.29
Repurchase of Common Equity	-	-0.13	-0.27	-	-0.61	-0.33	-0.57	-2.80	-0.29

This table presents Gulf Island Fabrication's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	395	317	322	271	258	253	237	135	135	128	133
Total Current Assets	170	116	113	179	160	163	153	84	87	102	105
Cash & Equivalents	36	35	51	8.98	70	50	43	53	33	38	27
Restricted Cash	-	-	-	-	-	-	0.00	1.30	1.60	1.48	1.20
Short-Term Investments	-	-	-	0.00	8.72	20	8.00	0.00	9.91	8.23	39
Inventories, net	10	13	12	4.93	6.09	2.68	2.16	1.78	1.60	2.07	1.91
Prepaid Expenses	4.51	3.42	3.22	3.83	3.27	3.95	7.94	6.97	6.48	6.99	5.14
Other Current Assets	91	52	20	161	52	78	25	21	34	39	31
Plant, Property, & Equipment, net	225	200	206	89	80	70	31	35	31	23	24
Total Noncurrent Assets	0.67	0.67	2.83	2.78	18	19	53	17	17	3.66	3.76
Goodwill	-	-	-	-	-	-	-	2.22	2.22	2.22	2.22
Intangible Assets	-	-	-	-	-	-	-	0.98	0.84	0.70	0.56
Other Noncurrent Operating Assets	0.67	0.67	2.83	2.78	18	19	14	14	14	0.74	0.98
Total Liabilities & Shareholders' Equity	395	317	322	271	258	253	237	135	135	128	133
Total Liabilities	109	60	59	51	57	100	112	31	32	49	40
Total Current Liabilities	73	38	35	49	56	98	106	30	31	30	21
Short-Term Debt	-	-	-	-	-	0.00	5.50	-	0.00	1.08	1.12
Accounts Payable	40	14	9.02	18	29	62	12	9.28	8.31	8.47	5.80
Accrued Expenses	5.19	7.61	10	13	10	10	14	14	14	15	13
Current Deferred Revenue	19	7.08	16	17	17	-	10	6.65	8.20	-	1.28
Total Noncurrent Liabilities	37	22	24	2.68	1.09	2.25	6.57	1.41	1.45	20	19
Long-Term Debt	-	-	-	-	-	0.00	4.50	-	0.00	19	18
Noncurrent Deferred Revenue	-	0.00	0.49	0.77	-	-	-	-	-	-	0.00
Other Noncurrent Operating Liabilities	-	0.00	0.31	1.91	1.09	2.25	2.07	1.41	1.45	0.69	0.85
Total Equity & Noncontrolling Interests	286	257	263	219	201	153	124	104	103	79	93
Total Preferred & Common Equity	286	257	263	219	201	153	124	104	103	79	93
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	286	257	263	219	201	153	124	104	103	79	93
Common Stock	104	107	109	111	113	114	115	117	119	120	120
Retained Earnings	182	151	154	108	88	38	9.18	-13	-16	-41	-27

This table presents Gulf Island Fabrication's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	121	128	133	131	138	134	147
Total Current Assets	88	100	105	102	112	105	118
Cash & Equivalents	25	32	9.51	21	29	47	23
Restricted Cash	1.20	1.48	1.48	1.48	1.20	1.20	1.20
Short-Term Investments	15	27	52	44	38	14	40
Inventories, net	2.34	2.00	2.33	2.27	3.01	2.74	2.72
Prepaid Expenses	3.44	4.63	4.26	4.07	5.62	4.91	3.60
Other Current Assets	40	32	36	29	35	36	47
Plant, Property, & Equipment, net	29	25	25	25	23	23	22
Total Noncurrent Assets	3.79	3.53	3.39	3.60	3.65	6.17	6.49
Goodwill	2.22	2.22	2.22	2.22	2.22	3.61	3.61
Intangible Assets	0.74	0.66	0.63	0.59	0.52	0.88	0.82
Other Noncurrent Operating Assets	0.84	0.65	0.54	0.79	0.91	1.69	2.07
Total Liabilities & Shareholders' Equity	121	128	133	131	138	134	147
Total Liabilities	49	42	47	42	41	42	52
Total Current Liabilities	28	23	27	22	23	23	33
Short-Term Debt	-	1.08	1.08	1.08	1.12	1.12	1.12
Accounts Payable	12	6.63	9.02	5.54	9.52	6.46	18
Accrued Expenses	13	13	13	14	11	13	13
Current Deferred Revenue	3.53	1.74	4.13	1.48	0.93	2.08	0.98
Total Noncurrent Liabilities	21	19	19	20	19	19	19
Long-Term Debt	-	19	19	19	18	18	18
Noncurrent Deferred Revenue	20	0.00	0.00	0.00	0.00	0.00	0.00
Other Noncurrent Operating Liabilities	0.82	0.56	0.55	0.79	0.78	0.93	1.12
Total Equity & Noncontrolling Interests	71	85	87	89	97	93	94
Total Preferred & Common Equity	71	85	87	89	97	93	94
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	71	85	87	89	97	93	94
Common Stock	120	121	120	120	120	116	116
Retained Earnings	-48	-35	-33	-31	-23	-23	-22

This table displays calculated financial ratios and metrics derived from Gulf Island Fabrication's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-16.72%	-39.58%	-6.47%	-40.27%	29.37%	37.09%	-61.19%	-20.62%	52.29%	6.15%	5.38%
EBITDA Growth	36.43%	-124.64%	352.72%	-278.41%	83.33%	-334.32%	86.93%	-53.20%	120.78%	-1,313.13%	183.97%
EBIT Growth	102.63%	-261.83%	115.19%	-1,270.02%	71.34%	-154.37%	72.21%	3.01%	74.67%	-657.92%	147.44%
NOPAT Growth	102.89%	-275.53%	113.73%	-1,394.58%	71.34%	-154.37%	72.21%	3.01%	74.67%	-657.92%	168.01%
Net Income Growth	111.84%	-265.56%	113.86%	-1,373.57%	54.48%	-142.39%	44.48%	19.17%	84.88%	-627.98%	160.41%
EPS Growth	110.00%	-266.67%	113.71%	-1,358.33%	54.97%	-138.24%	44.75%	20.11%	85.31%	-619.05%	158.28%
Operating Cash Flow Growth	-15.51%	-66.70%	36.23%	-370.35%	48.22%	64.99%	-166.22%	-30.55%	64.04%	180.66%	153.55%
Free Cash Flow Firm Growth	-73.63%	-93.12%	4,423.82%	-428.36%	300.88%	-106.49%	469.53%	-177.04%	39.04%	46.31%	327.98%
Invested Capital Growth	4.53%	-10.95%	-4.72%	-0.64%	-51.08%	-28.09%	-43.50%	18.84%	16.43%	-21.50%	-1.33%
Revenue Q/Q Growth	-2.01%	-18.56%	0.16%	-9.61%	11.58%	6.76%	-45.32%	88.72%	9.48%	4.43%	-4.29%
EBITDA Q/Q Growth	12.10%	-210.75%	114.30%	-201.29%	78.56%	-310.11%	81.14%	34.83%	133.10%	23.61%	-15.67%
EBIT Q/Q Growth	26.70%	-153.41%	152.45%	-96.77%	63.16%	-148.26%	62.21%	28.51%	65.69%	19.56%	-19.94%
NOPAT Q/Q Growth	21.58%	-153.22%	143.37%	-96.77%	63.16%	-148.26%	62.21%	28.51%	65.69%	19.56%	-19.77%
Net Income Q/Q Growth	24.34%	-134.68%	146.27%	-86.20%	49.02%	-150.08%	40.76%	29.48%	66.78%	21.14%	-15.94%
EPS Q/Q Growth	25.00%	-130.26%	146.15%	-86.42%	49.25%	-149.23%	41.12%	29.90%	67.69%	20.11%	-15.38%
Operating Cash Flow Q/Q Growth	-27.87%	-64.88%	27.01%	-14.42%	28.43%	15.32%	-146.51%	-8.08%	72.47%	-26.03%	-21.72%
Free Cash Flow Firm Q/Q Growth	229.16%	-98.62%	72.73%	-169.59%	455.14%	-88.13%	361.92%	-160.03%	67.63%	-150.04%	315.76%
Invested Capital Q/Q Growth	-4.22%	-2.15%	0.66%	76.91%	-4.67%	-23.78%	-47.69%	31.11%	-8.94%	52.89%	6.83%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	8.16%	-7.30%	8.68%	-25.10%	-3.25%	-5.60%	-6.68%	1.78%	5.55%	-7.88%	13.98%
EBITDA Margin	9.93%	-4.05%	10.94%	-32.67%	-4.21%	-13.34%	-4.49%	-8.67%	1.18%	-13.52%	10.77%
Operating Margin	4.73%	-12.61%	2.05%	-40.12%	-8.89%	-16.49%	-11.81%	-14.43%	-2.40%	-17.13%	7.71%
EBIT Margin	4.71%	-12.61%	2.05%	-40.12%	-8.89%	-16.49%	-11.81%	-14.43%	-2.40%	-17.13%	7.71%
Profit (Net Income) Margin	3.02%	-8.29%	1.23%	-26.18%	-9.21%	-16.29%	-23.30%	-23.72%	-2.36%	-16.15%	9.26%
Tax Burden Percent	64.30%	65.48%	63.26%	64.92%	102.88%	99.81%	193.54%	459.92%	100.69%	99.83%	100.35%
Interest Burden Percent	99.90%	100.36%	94.75%	100.51%	100.72%	98.94%	101.93%	35.75%	97.48%	94.44%	119.64%
Effective Tax Rate	35.70%	0.00%	36.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.35%
Return on Invested Capital (ROIC)	6.30%	-11.45%	1.71%	-22.74%	-8.78%	-39.55%	-16.79%	-20.62%	-4.44%	-35.06%	27.29%
ROIC Less NNEP Spread (ROIC-NNEP)	6.52%	-16.15%	2.16%	-33.58%	3.57%	-23.28%	5.15%	-2.01%	-2.50%	-19.00%	21.38%
Return on Net Nonoperating Assets (RNNOA)	-0.85%	2.11%	-0.36%	4.19%	-0.91%	11.63%	-3.00%	1.20%	1.20%	8.19%	-10.16%
Return on Equity (ROE)	5.46%	-9.34%	1.35%	-18.55%	-9.69%	-27.92%	-19.79%	-19.41%	-3.25%	-26.88%	17.13%
Cash Return on Invested Capital (CROIC)	1.87%	0.13%	6.55%	-22.10%	59.81%	-6.87%	38.80%	-37.84%	-19.63%	-10.97%	28.63%
Operating Return on Assets (OROA)	5.81%	-10.84%	1.83%	-23.13%	-7.43%	-19.58%	-5.68%	-7.25%	-2.53%	-19.66%	9.39%
Return on Assets (ROA)	3.73%	-7.12%	1.10%	-15.09%	-7.70%	-19.33%	-11.21%	-11.92%	-2.48%	-18.54%	11.27%
Return on Common Equity (ROCE)	5.46%	-9.34%	1.35%	-18.55%	-9.69%	-27.92%	-19.79%	-19.41%	-3.25%	-26.88%	17.13%
Return on Equity Simple (ROE_SIMPLE)	5.36%	-9.86%	1.34%	-20.40%	-10.13%	-32.35%	-22.03%	-21.33%	-3.27%	-30.90%	15.83%
Net Operating Profit after Tax (NOPAT)	15	-27	3.71	-48	-14	-35	-9.73	-9.44	-2.39	-18	12
NOPAT Margin	3.04%	-8.83%	1.30%	-28.08%	-6.22%	-11.54%	-8.27%	-10.10%	-1.68%	-11.99%	7.74%
Net Nonoperating Expense Percent (NNEP)	-0.22%	4.70%	-0.45%	10.84%	-12.35%	-16.27%	-21.94%	-18.61%	-1.94%	-16.06%	5.92%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-18.31%	10.99%
Cost of Revenue to Revenue	91.84%	107.30%	91.32%	125.10%	103.25%	105.60%	106.68%	98.22%	94.45%	107.88%	86.02%
SG&A Expenses to Revenue	3.44%	5.31%	6.87%	10.41%	8.59%	5.15%	10.81%	12.68%	12.80%	10.78%	8.49%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	3.44%	5.31%	6.63%	15.02%	5.64%	10.89%	5.13%	16.21%	7.95%	9.26%	6.27%
Earnings before Interest and Taxes (EBIT)	24	-39	5.86	-69	-20	-50	-14	-13	-3.42	-26	12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	50	-12	31	-56	-9.32	-40	-5.29	-8.10	1.68	-20	17
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.95	0.59	0.66	0.91	0.54	0.51	0.38	0.60	0.80	0.89	1.20
Price to Tangible Book Value (P/TBV)	0.95	0.59	0.66	0.91	0.54	0.51	0.38	0.62	0.82	0.93	1.23
Price to Revenue (P/Rev)	0.53	0.49	0.61	1.17	0.49	0.26	0.40	0.67	0.57	0.47	0.70
Price to Earnings (P/E)	17.65	0.00	49.40	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.55
Dividend Yield	2.15%	3.86%	0.34%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	5.67%	0.00%	2.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	13.24%
Enterprise Value to Invested Capital (EV/IC)	0.94	0.52	0.58	0.91	0.29	0.10	0.14	0.16	0.64	0.94	1.41
Enterprise Value to Revenue (EV/Rev)	0.46	0.38	0.43	1.12	0.13	0.03	0.05	0.09	0.26	0.28	0.40
Enterprise Value to EBITDA (EV/EBITDA)	4.66	0.00	3.91	0.00	0.00	0.00	0.00	0.00	21.96	0.00	3.68
Enterprise Value to EBIT (EV/EBIT)	9.83	0.00	20.89	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.14
Enterprise Value to NOPAT (EV/NOPAT)	15.22	0.00	33.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.12
Enterprise Value to Operating Cash Flow (EV/OCF)	7.30	10.86	8.41	0.00	0.00	0.00	0.00	0.00	0.00	5.92	3.46
Enterprise Value to Free Cash Flow (EV/FCFF)	51.30	369.70	8.62	0.00	0.32	0.00	0.26	0.00	0.00	0.00	4.88
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.08	0.00	0.00	0.25	0.20
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.04	0.00	0.00	0.24	0.19
Financial Leverage	-0.13	-0.13	-0.17	-0.12	-0.25	-0.50	-0.58	-0.60	-0.48	-0.43	-0.48
Leverage Ratio	1.46	1.31	1.23	1.23	1.26	1.44	1.77	1.63	1.31	1.45	1.52
Compound Leverage Factor	1.46	1.32	1.16	1.24	1.27	1.43	1.80	0.58	1.28	1.37	1.82
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.44%	0.00%	0.00%	20.21%	16.95%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.09%	0.00%	0.00%	1.09%	1.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.35%	0.00%	0.00%	19.12%	15.96%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	92.56%	100.00%	100.00%	79.79%	83.05%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	-1.89	0.00	0.00	-0.98	1.11
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	7.79	0.00	0.00	1.37	-2.82
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	-0.85	0.00	0.00	-0.93	1.04
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	-1.03	0.00	0.00	-1.10	1.54
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	4.23	0.00	0.00	1.54	-3.92
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	-0.46	0.00	0.00	-1.04	1.45
Altman Z-Score	3.90	3.04	3.66	3.27	2.71	1.54	0.85	1.90	2.82	1.59	3.64
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.33	3.06	3.21	3.68	2.85	1.67	1.45	2.79	2.83	3.40	4.93
Quick Ratio	0.87	1.26	2.21	0.18	1.41	0.71	0.48	1.77	1.40	1.55	3.09
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4.57	0.31	14	-47	94	-6.08	22	-17	-11	-5.67	13
Operating Cash Flow to CapEx	120.13%	178.03%	4,322.85%	-1,470.14%	0.00%	-453.91%	-206.79%	0.00%	-849.00%	297.40%	0.00%
Free Cash Flow to Firm to Interest Expense	123.46	1.90	46.15	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	867.84	64.81	47.30	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	145.43	28.41	46.20	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.23	0.86	0.90	0.58	0.84	1.19	0.48	0.50	1.05	1.15	1.22
Accounts Receivable Turnover	19.59	15.38	14.44	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	43.34	28.47	20.99	25.31	41.46	73.10	51.97	46.64	79.59	88.79	68.83
Fixed Asset Turnover	2.26	1.44	1.41	1.16	2.62	4.03	2.32	2.84	4.32	5.56	6.75
Accounts Payable Turnover	8.75	12.19	23.11	15.62	9.65	7.08	3.40	8.48	15.28	19.43	19.20
Days Sales Outstanding (DSO)	18.63	23.73	25.27	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	8.42	12.82	17.39	14.42	8.80	4.99	7.02	7.83	4.59	4.11	5.30
Days Payable Outstanding (DPO)	41.70	29.93	15.79	23.37	37.82	51.57	107.39	43.03	23.88	18.79	19.01
Cash Conversion Cycle (CCC)	-14.65	6.62	26.87	-8.95	-29.02	-46.58	-100.37	-35.20	-19.29	-14.68	-13.71
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	250	222	212	211	103	74	42	50	58	45	45
Invested Capital Turnover	2.07	1.30	1.32	0.81	1.41	3.43	2.03	2.04	2.64	2.92	3.53
Increase / (Decrease) in Invested Capital	11	-27	-11	-1.36	-108	-29	-32	7.88	8.17	-12	-0.61
Enterprise Value (EV)	234	116	122	191	30	7.76	5.74	8.18	37	43	63
Market Capitalization	270	151	174	200	109	77	47	62	82	71	111
Book Value per Share	$19.69	$17.67	$17.96	$14.73	$13.33	$10.00	$8.12	$6.68	$6.44	$4.85	$5.69
Tangible Book Value per Share	$19.69	$17.67	$17.96	$14.73	$13.33	$10.00	$8.12	$6.48	$6.25	$4.67	$5.52
Total Capital	286	257	263	219	201	153	134	104	103	99	112
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	10	0.00	0.00	20	19
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	4.50	0.00	0.00	19	18
Net Debt	-36	-35	-51	-8.98	-79	-70	-41	-54	-45	-28	-48
Capital Expenditures (CapEx)	27	6.01	0.34	2.68	-82	1.57	9.19	-2.98	1.05	2.42	-4.27
Debt-free, Cash-free Net Working Capital (DFCFNWC)	61	43	27	122	25	-3.99	1.41	-0.46	12	25	18
Debt-free Net Working Capital (DFNWC)	97	78	78	130	104	66	53	54	56	73	85
Net Working Capital (NWC)	97	78	78	130	104	66	47	54	56	72	84
Net Nonoperating Expense (NNE)	0.08	-1.67	0.19	-3.26	6.61	14	18	13	0.96	6.28	-2.42
Net Nonoperating Obligations (NNO)	-36	-35	-51	-8.98	-98	-79	-83	-54	-45	-34	-48
Total Depreciation and Amortization (D&A)	26	26	25	13	10	9.56	8.62	5.39	5.10	5.47	4.87
Debt-free, Cash-free Net Working Capital to Revenue	12.04%	14.09%	9.38%	71.05%	11.15%	-1.32%	1.19%	-0.49%	8.12%	16.53%	11.23%
Debt-free Net Working Capital to Revenue	19.16%	25.47%	27.25%	76.31%	46.94%	21.64%	44.65%	57.49%	39.54%	48.23%	53.49%
Net Working Capital to Revenue	19.16%	25.47%	27.25%	76.31%	46.94%	21.64%	39.98%	57.49%	39.54%	47.52%	52.78%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.05	($1.75)	$0.24	($3.02)	($1.36)	($3.24)	($1.79)	($1.43)	($0.21)	($1.51)	$0.90
Adjusted Weighted Average Basic Shares Outstanding	14.74M	14.63M	14.85M	15.04M	15.23M	15.29M	15.52M	15.78M	15.97M	16.20M	16.35M
Adjusted Diluted Earnings per Share	$1.05	($1.75)	$0.24	($3.02)	($1.36)	($3.24)	($1.79)	($1.43)	($0.21)	($1.51)	$0.88
Adjusted Weighted Average Diluted Shares Outstanding	14.74M	14.63M	14.85M	15.04M	15.23M	15.29M	15.52M	15.78M	15.97M	16.20M	16.35M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.24	($3.02)	($1.36)	($3.24)	($1.79)	($1.43)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	14.74M	14.63M	14.85M	15.04M	15.23M	15.29M	15.52M	15.78M	15.97M	16.20M	16.35M
Normalized Net Operating Profit after Tax (NOPAT)	15	-27	3.71	-42	-19	-23	-7.99	-9.44	-2.39	-18	8.60
Normalized NOPAT Margin	3.04%	-8.83%	1.30%	-24.84%	-8.39%	-7.50%	-6.79%	-10.10%	-1.68%	-11.99%	5.40%
Pre Tax Income Margin	4.70%	-12.65%	1.94%	-40.32%	-8.95%	-16.32%	-12.04%	-5.16%	-2.34%	-16.18%	9.23%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	644.54	-233.90	19.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	416.19	-163.82	12.05	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-77.86	-270.31	17.94	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-306.21	-200.22	10.95	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	38.28%	-23.12%	16.73%	-1.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	38.28%	-23.12%	16.73%	-1.34%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.52%	8.17%

This table displays calculated financial ratios and metrics derived from Gulf Island Fabrication's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025
DEI Shares Outstanding	16,287,469.00	16,287,469.00	16,197,031.00	16,282,521.00	16,516,331.00	-	16,346,253.00	16,223,560.00	16,034,779.00
DEI Adjusted Shares Outstanding	16,287,469.00	16,287,469.00	16,197,031.00	16,282,521.00	16,516,331.00	-	16,346,253.00	16,223,560.00	16,034,779.00
DEI Earnings Per Adjusted Shares Outstanding	-2.04	0.44	0.39	0.12	0.14	-	0.23	-0.04	0.10
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	-87.31%	16.81%	-31.02%	4.92%	649.35%	-16.01%	-6.08%	-9.03%	36.93%
EBITDA Growth	-1,802.48%	368.26%	315.47%	17.84%	108.93%	-39.70%	-34.27%	-95.44%	-17.57%
EBIT Growth	-5,242.97%	1,656.58%	1,640.24%	71.30%	104.97%	-45.83%	-42.54%	-184.10%	-31.46%
NOPAT Growth	-3,760.28%	1,732.04%	1,656.43%	69.54%	107.10%	-45.31%	-42.47%	-158.78%	-31.31%
Net Income Growth	-5,657.69%	1,191.44%	873.48%	71.42%	106.97%	-39.42%	-38.67%	-130.39%	-32.71%
EPS Growth	-5,200.00%	950.00%	825.00%	57.14%	106.86%	-38.10%	-37.84%	-136.36%	-28.57%
Operating Cash Flow Growth	140.83%	-25.58%	441.59%	193.95%	179.37%	-68.72%	-68.39%	-22.54%	-49.42%
Free Cash Flow Firm Growth	141.23%	345.43%	1,621.72%	686.15%	-202.59%	-77.69%	-104.09%	-131.09%	46.86%
Invested Capital Growth	-53.25%	-21.50%	-24.22%	-31.89%	41.21%	-1.33%	9.26%	13.74%	16.13%
Revenue Q/Q Growth	-87.23%	786.92%	-3.75%	-3.78%	-8.78%	-0.60%	7.64%	-6.79%	37.30%
EBITDA Q/Q Growth	-1,606.07%	124.89%	-14.02%	-63.44%	14.15%	68.06%	-6.28%	-97.46%	1,964.35%
EBIT Q/Q Growth	-4,590.65%	119.85%	-14.49%	-77.52%	30.32%	116.27%	-9.29%	-132.90%	206.21%
NOPAT Q/Q Growth	-3,206.38%	128.48%	-15.01%	-77.45%	30.00%	119.52%	-10.61%	-123.04%	251.92%
Net Income Q/Q Growth	-3,115.88%	121.33%	-11.99%	-69.73%	22.66%	85.37%	-10.90%	-115.00%	371.60%
EPS Q/Q Growth	-3,014.29%	120.59%	-11.90%	-70.27%	27.27%	85.71%	-11.54%	-117.39%	350.00%
Operating Cash Flow Q/Q Growth	157.92%	264.62%	-4.75%	-53.30%	72.24%	-59.17%	-3.73%	14.42%	12.49%
Free Cash Flow Firm Q/Q Growth	378.68%	85.75%	3.41%	9.50%	-148.78%	140.39%	-118.95%	-732.68%	16.62%
Invested Capital Q/Q Growth	-53.54%	52.89%	-2.86%	-1.28%	-3.69%	6.83%	7.57%	2.77%	-1.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	-594.84%	19.00%	14.28%	10.08%	12.37%	19.55%	16.43%	9.49%	9.47%
EBITDA Margin	-641.95%	18.02%	16.09%	6.11%	7.65%	12.94%	11.26%	0.31%	4.61%
Operating Margin	-669.62%	14.98%	13.31%	3.11%	4.44%	9.66%	8.14%	-2.87%	2.22%
EBIT Margin	-669.62%	14.98%	13.31%	3.11%	4.44%	9.66%	8.14%	-2.87%	2.22%
Profit (Net Income) Margin	-661.66%	15.91%	14.55%	4.58%	6.16%	11.48%	9.50%	-1.53%	3.02%
Tax Burden Percent	99.99%	100.45%	99.84%	100.16%	99.91%	101.42%	99.95%	100.88%	100.13%
Interest Burden Percent	98.82%	105.74%	109.50%	147.00%	138.70%	117.12%	116.74%	52.73%	135.86%
Effective Tax Rate	0.00%	-0.45%	0.16%	-0.16%	0.09%	-1.42%	0.05%	0.00%	-0.13%
Return on Invested Capital (ROIC)	-1,453.39%	44.00%	34.21%	7.74%	20.59%	34.56%	27.60%	-6.60%	8.19%
ROIC Less NNEP Spread (ROIC-NNEP)	-1,429.02%	43.02%	32.95%	6.29%	19.13%	33.03%	26.37%	-7.02%	7.29%
Return on Net Nonoperating Assets (RNNOA)	657.55%	-18.54%	-15.04%	-2.75%	-10.57%	-15.70%	-13.00%	3.38%	-3.68%
Return on Equity (ROE)	-795.84%	25.47%	19.17%	5.00%	10.02%	18.87%	14.60%	-3.23%	4.51%
Cash Return on Invested Capital (CROIC)	24.29%	-10.97%	-0.48%	11.95%	8.67%	28.63%	12.58%	3.31%	0.52%
Operating Return on Assets (OROA)	-758.71%	17.19%	12.67%	3.08%	5.88%	11.76%	9.59%	-3.28%	2.67%
Return on Assets (ROA)	-749.68%	18.26%	13.86%	4.54%	8.15%	13.97%	11.19%	-1.75%	3.64%
Return on Common Equity (ROCE)	-795.84%	25.47%	19.17%	5.00%	10.02%	18.87%	14.60%	-3.23%	4.51%
Return on Equity Simple (ROE_SIMPLE)	-43.29%	0.00%	-22.01%	0.00%	0.00%	0.00%	12.75%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-24	6.71	5.70	1.29	1.67	3.67	3.28	-0.76	1.15
NOPAT Margin	-468.73%	15.05%	13.29%	3.11%	4.44%	9.80%	8.14%	-2.01%	2.23%
Net Nonoperating Expense Percent (NNEP)	-24.37%	0.98%	1.26%	1.45%	1.46%	1.54%	1.22%	0.42%	0.89%
Return On Investment Capital (ROIC_SIMPLE)	-	6.78%	5.40%	1.20%	1.54%	3.27%	2.83%	-0.68%	1.01%
Cost of Revenue to Revenue	694.84%	81.00%	85.72%	89.92%	87.63%	80.45%	83.57%	90.51%	90.53%
SG&A Expenses to Revenue	81.23%	7.62%	8.12%	8.13%	7.93%	9.88%	8.03%	8.75%	7.08%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	74.78%	4.01%	0.97%	6.97%	7.93%	9.89%	8.28%	12.36%	7.24%
Earnings before Interest and Taxes (EBIT)	-34	6.68	5.71	1.28	1.67	3.62	3.28	-1.08	1.15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-32	8.03	6.90	2.52	2.88	4.84	4.54	0.12	2.37
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.75	0.89	1.39	1.14	1.05	1.20	1.09	1.16	1.19
Price to Tangible Book Value (P/TBV)	0.78	0.93	1.44	1.18	1.08	1.23	1.12	1.22	1.25
Price to Revenue (P/Rev)	0.37	0.47	0.90	0.74	0.56	0.70	0.67	0.71	0.68
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	5.31	7.55	8.57	10.94	12.36
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	18.83%	13.24%	11.67%	9.14%	8.09%
Enterprise Value to Invested Capital (EV/IC)	0.39	0.94	1.76	1.28	1.10	1.41	1.18	1.31	1.37
Enterprise Value to Revenue (EV/Rev)	0.08	0.28	0.59	0.42	0.28	0.40	0.36	0.42	0.40
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	2.28	3.68	3.87	5.23	5.65
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	3.02	5.14	5.80	8.64	9.62
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	3.02	5.12	5.77	8.59	9.56
Enterprise Value to Operating Cash Flow (EV/OCF)	1.18	5.92	6.02	2.83	1.99	3.46	4.25	5.09	6.76
Enterprise Value to Free Cash Flow (EV/FCFF)	1.02	0.00	0.00	8.68	14.90	4.88	9.83	41.99	283.54
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.25	0.23	0.23	0.23	0.20	0.20	0.20	0.20
Long-Term Debt to Equity	0.00	0.24	0.22	0.22	0.21	0.19	0.19	0.19	0.19
Financial Leverage	-0.46	-0.43	-0.46	-0.44	-0.55	-0.48	-0.49	-0.48	-0.50
Leverage Ratio	1.48	1.45	1.47	1.41	1.57	1.52	1.46	1.49	1.52
Compound Leverage Factor	1.46	1.53	1.61	2.08	2.18	1.78	1.70	0.79	2.06
Debt to Total Capital	0.00%	20.21%	18.97%	18.75%	18.38%	16.95%	16.42%	17.00%	16.77%
Short-Term Debt to Total Capital	0.00%	1.09%	1.02%	1.01%	0.99%	1.00%	0.97%	1.00%	0.99%
Long-Term Debt to Total Capital	0.00%	19.12%	17.95%	17.74%	17.39%	15.96%	15.46%	16.00%	15.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	79.79%	81.03%	81.25%	81.62%	83.05%	83.58%	83.00%	83.23%
Debt to EBITDA	0.00	-0.98	-1.32	-1.35	0.98	1.11	1.29	1.54	1.60
Net Debt to EBITDA	0.00	1.37	2.72	2.91	-2.30	-2.82	-3.28	-3.49	-3.84
Long-Term Debt to EBITDA	0.00	-0.93	-1.25	-1.28	0.93	1.04	1.21	1.45	1.51
Debt to NOPAT	0.00	-1.10	-1.39	-1.43	1.30	1.54	1.92	2.52	2.71
Net Debt to NOPAT	0.00	1.54	2.88	3.08	-3.05	-3.92	-4.90	-5.74	-6.50
Long-Term Debt to NOPAT	0.00	-1.04	-1.32	-1.35	1.23	1.45	1.81	2.38	2.55
Altman Z-Score	0.96	2.42	3.20	2.66	3.05	3.43	3.28	3.16	2.94
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	3.09	3.40	4.37	3.89	4.61	4.93	4.90	4.63	3.54
Quick Ratio	1.43	1.55	2.62	2.27	2.94	3.09	2.91	2.68	1.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	10	19	20	22	-11	4.27	-0.81	-6.74	-5.62
Operating Cash Flow to CapEx	569.30%	660.90%	0.00%	1,118.77%	429.68%	496.77%	749.66%	821.68%	1,449.75%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	1.13	1.15	0.95	0.99	1.32	1.22	1.18	1.14	1.20
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	81.28	88.79	62.72	58.32	62.06	68.83	53.37	51.61	57.97
Fixed Asset Turnover	4.81	5.56	4.79	4.95	6.16	6.75	6.60	6.46	7.15
Accounts Payable Turnover	13.45	19.43	8.60	11.20	16.76	19.20	16.58	16.89	12.23
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	4.49	4.11	5.82	6.26	5.88	5.30	6.84	7.07	6.30
Days Payable Outstanding (DPO)	27.14	18.79	42.46	32.59	21.77	19.01	22.01	21.61	29.83
Cash Conversion Cycle (CCC)	-22.65	-14.68	-36.64	-26.33	-15.89	-13.71	-15.17	-14.54	-23.54
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	30	45	44	44	42	45	48	50	49
Invested Capital Turnover	3.10	2.92	2.57	2.49	4.64	3.53	3.39	3.28	3.68
Increase / (Decrease) in Invested Capital	-34	-12	-14	-20	12	-0.61	4.09	5.99	6.77
Enterprise Value (EV)	12	43	78	56	46	63	57	65	67
Market Capitalization	53	71	119	99	93	111	106	108	113
Book Value per Share	$4.39	$4.85	$5.28	$5.32	$5.38	$5.69	$5.92	$5.72	$5.88
Tangible Book Value per Share	$4.21	$4.67	$5.10	$5.15	$5.21	$5.52	$5.75	$5.44	$5.61
Total Capital	71	99	105	107	109	112	116	112	113
Total Debt	0.00	20	20	20	20	19	19	19	19
Total Long-Term Debt	0.00	19	19	19	19	18	18	18	18
Net Debt	-42	-28	-41	-43	-47	-48	-48	-43	-46
Capital Expenditures (CapEx)	0.36	1.12	-6.34	0.29	1.31	0.46	0.30	0.31	0.20
Debt-free, Cash-free Net Working Capital (DFCFNWC)	17	25	17	16	14	18	22	22	21
Debt-free Net Working Capital (DFNWC)	59	73	78	79	81	85	90	84	86
Net Working Capital (NWC)	59	72	77	78	80	84	89	83	85
Net Nonoperating Expense (NNE)	9.69	-0.38	-0.54	-0.60	-0.65	-0.63	-0.55	-0.18	-0.41
Net Nonoperating Obligations (NNO)	-42	-34	-41	-43	-47	-48	-48	-43	-46
Total Depreciation and Amortization (D&A)	1.39	1.35	1.19	1.24	1.21	1.22	1.26	1.19	1.23
Debt-free, Cash-free Net Working Capital to Revenue	12.08%	16.53%	12.66%	12.12%	8.71%	11.23%	14.33%	14.10%	12.82%
Debt-free Net Working Capital to Revenue	40.95%	48.23%	59.17%	59.31%	48.88%	53.49%	57.42%	54.78%	51.53%
Net Working Capital to Revenue	40.95%	47.52%	58.36%	58.51%	48.23%	52.78%	56.70%	54.05%	50.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($2.04)	$0.42	$0.38	$0.12	$0.14	$0.26	$0.23	($0.04)	$0.10
Adjusted Weighted Average Basic Shares Outstanding	16.29M	16.20M	16.28M	16.52M	16.35M	16.35M	16.22M	16.03M	16.00M
Adjusted Diluted Earnings per Share	($2.04)	$0.42	$0.37	$0.11	$0.14	$0.26	$0.23	($0.04)	$0.10
Adjusted Weighted Average Diluted Shares Outstanding	16.29M	16.20M	16.28M	16.52M	16.35M	16.35M	16.22M	16.03M	16.00M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	16.29M	16.20M	16.28M	16.52M	16.35M	16.35M	16.22M	16.03M	16.00M
Normalized Net Operating Profit after Tax (NOPAT)	-24	4.67	5.70	0.90	1.67	2.53	3.28	-0.76	0.80
Normalized NOPAT Margin	-468.73%	10.49%	13.29%	2.18%	4.44%	6.77%	8.14%	-2.01%	1.56%
Pre Tax Income Margin	-661.72%	15.84%	14.58%	4.57%	6.16%	11.32%	9.51%	-1.52%	3.02%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-0.52%	-2.13%	-2.23%	5.74%	8.17%	12.15%	43.59%	43.74%

Financials Breakdown Chart

Key Financial Trends

Gulf Island Fabrication’s latest quarter shows a sharp improvement in profitability and operating cash flow, but the balance sheet also reflects a meaningful shift in cash and liquidity mix.

For Q3 2025, Gulf Island Fabrication posted $51.5 million in revenue and $1.6 million in net income, reversing the $574,000 loss from Q2 2025 and improving from the $2.3 million profit in Q3 2024. Operating income also turned positive again at $1.1 million, after a loss in the prior quarter. That suggests the business is still capable of generating profits, though margins remain fairly thin.

Cash from operations was solid at $2.9 million in Q3 2025, compared with $2.5 million in Q2 2025 and $5.6 million in Q3 2024. Over the last several quarters, operating cash flow has remained positive, which is a good sign for a company in a cyclical industrial business.

At the same time, the company spent heavily on investments during the quarter. Investing cash flow was a large outflow of $26.2 million, driven mainly by $40.3 million of investment purchases partially offset by $14.3 million of investment sales. That helped push net change in cash and equivalents to a decline of $23.6 million in Q3 2025.

The balance sheet remains relatively strong, with $146.7 million in total assets and $94.3 million in equity at the end of Q3 2025. However, cash and equivalents fell to $23.2 million from $46.8 million at the end of Q2 2025, while short-term investments jumped to $40.2 million. In other words, liquidity was not lost so much as shifted from cash into investments.

Key takeaways for retail investors:

Q3 2025 returned to profitability with $1.6 million in net income.
Operating income improved to $1.1 million after a loss in Q2 2025.
Operating cash flow stayed positive at $2.9 million.
The company still carries a sizable liquidity cushion, including $40.2 million in short-term investments.
Revenue grew to $51.5 million from $37.5 million in Q2 2025, showing a strong sequential rebound.
Gross margin improved versus Q2 2025, but remains modest, so profitability can swing quickly.
Q3 2025 saw a major reallocation from cash into investments rather than a simple cash burn event.
Investing activities used $26.2 million of cash in Q3 2025, pressuring near-term liquidity.
Cash and equivalents dropped sharply to $23.2 million from $46.8 million in Q2 2025.
The company’s earnings remain small relative to revenue, leaving results sensitive to project execution and cost changes.

Looking at the broader trend, Gulf Island Fabrication has moved from the volatile performance seen in 2023 into a more stable 2024–2025 pattern, with recurring profitability in several quarters and generally positive operating cash flow. The main question for investors is whether management can keep margins steady while deploying capital into investments without weakening liquidity too much.

07/14/26 11:31 AM ETAI Generated. May Contain Errors.

Gulf Island Fabrication Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Gulf Island Fabrication's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

Gulf Island Fabrication's net income for the last 5 years looks like this:

2020: -$27.43 million
2021: -$22.17 million
2022: -$3.35 million
2023: -$24.40 million
2024: $14.74 million

See Gulf Island Fabrication's forecast for analyst expectations on what's next for the company.

Gulf Island Fabrication's total operating income in 2024 was $12.28 million, based on the following breakdown:

Total Gross Profit: $22.25 million
Total Operating Expenses: $9.97 million

Over the last 10 years, Gulf Island Fabrication's total revenue changed from $506.64 million in 2014 to $159.20 million in 2024, a change of -68.6%.

Gulf Island Fabrication's total liabilities were at $40.11 million at the end of 2024, a 18.9% decrease from 2023, and a 63.4% decrease since 2014.

In the past 10 years, Gulf Island Fabrication's cash and equivalents has ranged from $8.98 million in 2017 to $70.46 million in 2018, and is currently $27.28 million as of their latest financial filing in 2024.

Over the last 10 years, Gulf Island Fabrication's book value per share changed from 19.69 in 2014 to 5.69 in 2024, a change of -71.1%.

Related Companies

Financial statements for NASDAQ:GIFI last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Unlock superior investment research and tools.

Get MarketBeat All Access

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Gulf Island Fabrication (GIFI) Financials

Financials Breakdown Chart

Key Financial Trends

Gulf Island Fabrication Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Gulf Island Fabrication (GIFI) Financials

Annual Income Statements for Gulf Island Fabrication

Quarterly Income Statements for Gulf Island Fabrication

Annual Cash Flow Statements for Gulf Island Fabrication

Quarterly Cash Flow Statements for Gulf Island Fabrication

Annual Balance Sheets for Gulf Island Fabrication

Quarterly Balance Sheets for Gulf Island Fabrication

Annual Metrics And Ratios for Gulf Island Fabrication

Quarterly Metrics And Ratios for Gulf Island Fabrication

Financials Breakdown Chart

Key Financial Trends

Gulf Island Fabrication Financials - Frequently Asked Questions

When does Gulf Island Fabrication's fiscal year end?

How has Gulf Island Fabrication's net income changed over the last 10 years?

What is Gulf Island Fabrication's operating income?

How has Gulf Island Fabrication's revenue changed over the last 10 years?

How much debt does Gulf Island Fabrication have?

How much cash does Gulf Island Fabrication have?

How has Gulf Island Fabrication's book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools