Alexander & Baldwin (ALEX) Financials

$19.36 +0.03 (+0.13%)

Closing price 03:59 PM Eastern

Extended Trading

$19.34 -0.01 (-0.05%)

As of 04:20 PM Eastern

Annual Income Statements for Alexander & Baldwin

This table shows Alexander & Baldwin'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	61	30	-10	228	-72	-37	5.60	35	-51	30	61
Consolidated Net Income / (Loss)	65	31	-8.40	231	-70	-38	5.20	36	-50	33	61
Net Income / (Loss) Continuing Operations	37	61	33	228	-69	-37	19	75	37	41	64
Total Pre-Tax Income	41	99	35	9.90	-53	-39	19	75	19	41	64
Total Operating Income	77	94	54	29	173	13	42	85	116	65	80
Total Gross Profit	208	226	119	124	262	72	64	119	98	102	108
Total Revenue	456	473	388	426	644	435	190	254	231	209	237
Operating Revenue	456	473	388	426	644	161	190	254	231	209	237
Total Cost of Revenue	249	247	269	302	382	89	126	135	133	107	129
Operating Cost of Revenue	249	247	269	302	382	89	126	135	133	107	129
Total Operating Expenses	131	132	65	95	89	59	22	34	-18	38	28
Selling, General & Admin Expense	53	52	52	66	61	59	31	37	36	34	30
Other Operating Expenses / (Income)	78	80	1.40	5.90	-51	-	-0.50	-2.80	0.00	0.00	-0.05
Impairment Charge	0.00	0.00	12	22	79	-	-	0.00	0.00	4.77	0.26
Other Special Charges / (Income)	0.00	-	-	-	-	0.00	-8.90	-0.10	-54	-1.11	-2.15
Total Other Income / (Expense), net	-36	4.90	-19	-19	-226	-74	-24	-10	-97	-24	-16
Interest Expense	29	29	28	26	35	33	30	26	22	23	23
Interest & Investment Income	-13	34	9.40	6.70	-193	5.30	6.80	18	1.59	1.87	4.56
Other Income / (Expense), net	6.10	-	-	-	2.30	-47	-0.10	-1.70	-77	-2.69	3.02
Income Tax Expense	4.10	37	2.60	-218	16	-2.00	-0.40	0.00	-18	0.04	0.17
Net Income / (Loss) Discontinued Operations	28	-30	-41	2.40	-0.60	-1.50	-14	-40	-87	-7.85	-3.47
Net Income / (Loss) Attributable to Noncontrolling Interest	3.10	1.50	1.80	2.20	2.20	-2.00	-0.40	0.40	1.08	3.15	0.00
Basic Earnings per Share	$1.26	$0.54	($0.18)	$4.68	($1.02)	($1.00)	$0.08	$0.48	($0.70)	$0.41	$0.83
Weighted Average Basic Shares Outstanding	48.70M	48.90M	49M	49.20M	70.60M	72.20M	72.30M	72.50M	72.64M	72.56M	72.61M
Diluted Earnings per Share	$1.25	$0.54	($0.18)	$4.34	($1.02)	($1.00)	$0.08	$0.48	($0.70)	$0.41	$0.83
Weighted Average Diluted Shares Outstanding	49.30M	49.30M	49.40M	53M	70.60M	72.20M	72.40M	72.60M	72.79M	72.78M	72.75M
Weighted Average Basic & Diluted Shares Outstanding	48.83M	48.95M	49.08M	71.95M	72.09M	72.31M	72.47M	72.68M	72.59M	72.59M	72.71M
Cash Dividends to Common per Share	$0.17	$0.21	$0.25	$16.13	$11.65	$0.69	$0.34	$0.67	$0.83	$0.88	$0.89

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-72	5.34	13	15	-3.51	20	9.10	19	12	21	25
Consolidated Net Income / (Loss)	-76	5.31	15	16	-3.24	20	9.11	19	12	21	25
Net Income / (Loss) Continuing Operations	16	9.51	11	12	8.51	20	12	19	13	21	25
Total Pre-Tax Income	16	9.51	11	12	8.54	20	12	19	13	21	25
Total Operating Income	22	14	16	17	17	24	16	22	18	24	28
Total Gross Profit	30	22	26	25	29	31	21	29	26	27	24
Total Revenue	71	50	53	52	53	61	51	62	62	54	52
Operating Revenue	71	50	53	52	53	61	51	62	62	54	52
Total Cost of Revenue	41	29	27	27	24	30	30	32	37	27	28
Operating Cost of Revenue	41	29	27	27	24	30	30	32	37	27	28
Total Operating Expenses	8.22	7.61	9.91	8.21	12	7.22	5.13	7.44	8.10	2.69	-4.55
Selling, General & Admin Expense	8.17	8.73	9.91	7.56	7.83	7.24	7.25	7.44	7.90	6.99	7.01
Other Operating Expenses / (Income)	-	-	-	-	-	0.00	0.00	-	-	-4.10	0.00
Other Special Charges / (Income)	-	-1.12	0.00	0.00	0.00	-0.02	-2.13	0.00	-	-0.19	-12
Total Other Income / (Expense), net	-5.71	-4.73	-5.38	-4.98	-8.69	-3.55	-4.40	-2.68	-4.96	-2.73	-3.05
Interest Expense	5.29	5.04	5.86	6.08	5.99	4.24	5.40	5.68	6.05	5.75	5.64
Interest & Investment Income	-0.71	0.39	0.54	0.95	-0.01	0.70	1.00	2.14	0.72	3.03	2.59
Income Tax Expense	-	0.01	0.00	0.00	0.03	0.00	0.10	0.08	-	-0.04	-0.06
Net Income / (Loss) Discontinued Operations	-88	-4.20	4.21	3.89	-12	-0.26	-2.63	-0.30	-0.29	0.14	-0.02
Basic Earnings per Share	($0.99)	$0.07	$0.18	$0.20	($0.04)	$0.28	$0.13	$0.26	$0.16	$0.29	$0.35
Weighted Average Basic Shares Outstanding	72.64M	72.55M	72.62M	72.62M	72.56M	72.55M	72.62M	72.63M	72.61M	72.68M	72.74M
Diluted Earnings per Share	($0.98)	$0.07	$0.18	$0.20	($0.04)	$0.28	$0.13	$0.26	$0.16	$0.29	$0.35
Weighted Average Diluted Shares Outstanding	72.79M	72.63M	72.83M	72.84M	72.78M	72.67M	72.69M	72.82M	72.75M	72.82M	72.87M
Weighted Average Basic & Diluted Shares Outstanding	72.59M	72.59M	72.63M	72.54M	72.59M	72.59M	72.62M	72.63M	72.71M	72.71M	72.75M

This table details how cash moves in and out of Alexander & Baldwin'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	-0.50	16	-6.70	91	132	-220	42	14	-37	-21	20
Net Cash From Operating Activities	40	129	111	-1.30	310	158	63	124	34	67	98
Net Cash From Continuing Operating Activities	40	129	111	-1.30	310	158	55	118	67	75	102
Net Income / (Loss) Continuing Operations	65	31	-8.40	231	-70	-38	19	75	37	41	64
Consolidated Net Income / (Loss)	65	31	-8.40	231	-70	-38	5.20	36	-50	33	61
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-14	-40	-87	-7.85	-3.47
Depreciation Expense	55	56	120	41	43	51	43	40	38	37	36
Non-Cash Adjustments To Reconcile Net Income	-65	-42	-21	24	232	51	-9.10	-6.00	32	11	-2.00
Changes in Operating Assets and Liabilities, net	-14	84	22	-297	105	94	2.30	9.10	-40	-13	4.43
Net Cash From Discontinued Operating Activities	-	-	-	-	-	-	8.10	6.10	-33	-8.40	-4.12
Net Cash From Investing Activities	-28	18	-33	-3.90	-105	-240	12	97	45	7.10	-16
Net Cash From Continuing Investing Activities	-28	18	-33	-3.90	-105	-240	12	104	51	-28	-31
Purchase of Property, Plant & Equipment	-75	-45	-34	-32	-54	-37	-21	-30	-22	-22	-21
Acquisitions	-14	-	-130	-10	-242	-218	0.00	-17	0.00	-9.46	-30
Purchase of Investments	-75	-29	-	-42	-23	-3.30	-1.00	-1.20	-0.52	-0.34	-0.31
Sale of Property, Plant & Equipment	9.50	48	89	47	172	4.40	23	3.00	73	3.44	19
Sale and/or Maturity of Investments	-	-	-	33	42	14	11	150	0.07	0.45	1.01
Net Cash From Discontinued Investing Activities	-	-	-	-	-	-	-0.30	-7.60	-6.40	35	15
Net Cash From Financing Activities	-13	-132	-85	96	-74	-137	-33	-207	-115	-95	-62
Net Cash From Continuing Financing Activities	-13	-132	-85	96	-74	-137	-32	-206	-126	-80	-62
Repayment of Debt	-287	-251	-344	-181	-468	-204	-190	-289	-61	-35	-167
Repurchase of Common Equity	-0.90	-1.10	0.00	-7.20	-1.50	-1.00	-0.60	-1.30	-7.26	-5.40	-2.98
Payment of Dividends	-8.50	-11	-14	-11	-157	-50	-14	-47	-58	-64	-65
Issuance of Debt	283	132	272	295	553	126	173	131	0.00	25	173
Net Cash From Discontinued Financing Activities	-	-	-	-	-	-	-1.30	-1.40	11	-15	0.00
Cash Interest Paid	30	27	26	25	34	33	29	25	21	23	22
Cash Income Taxes Paid	14	6.40	0.00	4.00	-2.60	-26	-0.50	-	-1.01	0.02	-0.03

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	27	-22	-2.75	5.40	-1.70	2.17	14	-12	16	-16	-7.46
Net Cash From Operating Activities	25	5.51	3.71	34	23	16	22	35	24	26	16
Net Cash From Continuing Operating Activities	37	13	25	18	20	16	23	36	27	26	17
Net Income / (Loss) Continuing Operations	16	9.51	11	12	8.51	20	12	19	13	21	25
Consolidated Net Income / (Loss)	-72	5.31	15	16	-3.24	20	9.11	19	12	21	25
Net Income / (Loss) Discontinued Operations	-88	-4.20	4.21	3.89	-12	-0.26	-2.63	-0.30	-0.29	0.14	-0.02
Depreciation Expense	9.22	9.18	9.15	9.24	9.22	9.03	8.95	9.00	9.33	9.21	10
Non-Cash Adjustments To Reconcile Net Income	22	0.08	1.95	0.94	7.67	-2.52	-1.85	-1.49	3.86	-3.95	-13
Changes in Operating Assets and Liabilities, net	-10	-6.10	3.36	-4.33	-5.67	-10	4.31	8.97	1.43	-0.69	-5.82
Net Cash From Discontinued Operating Activities	-12	-7.15	-22	17	3.76	-0.40	-0.84	-0.47	-2.40	0.12	-0.12
Net Cash From Investing Activities	-11	0.71	-13	-6.89	26	11	-4.42	-33	9.73	-0.79	-4.84
Net Cash From Continuing Investing Activities	-11	-1.45	-12	-6.20	-7.60	-3.68	-4.42	-33	9.73	-0.79	-4.84
Purchase of Property, Plant & Equipment	-11	-3.02	-4.15	-6.43	-8.09	-3.75	-4.27	-3.87	-9.07	-4.17	-4.71
Purchase of Investments	-0.02	-0.08	-0.04	-0.12	-0.11	-0.11	-0.01	-0.03	-0.15	-0.09	-0.06
Sale of Property, Plant & Equipment	-0.01	1.65	1.31	0.34	0.15	0.18	-0.14	-	19	3.47	-0.06
Net Cash From Financing Activities	13	-28	6.72	-22	-52	-25	-4.05	-14	-19	-41	-19
Net Cash From Continuing Financing Activities	8.44	-27	11	-17	-47	-25	-4.05	-14	-19	-41	-19
Repayment of Debt	-39	-18	-1.34	-14	-1.41	-15	-39	2.52	-115	-17	-9.56
Repurchase of Common Equity	-2.26	-2.39	-	-1.18	-1.83	-2.33	-	-0.49	-0.17	-1.24	-0.14
Payment of Dividends	-0.02	-32	-16	-16	-0.02	-16	-16	-16	-16	-17	-16
Issuance of Debt	50	25	29	15	-44	9.00	51	-	113	-7.00	7.00
Cash Interest Paid	5.71	4.90	6.74	4.99	6.01	4.47	5.98	3.57	8.11	3.03	8.10
Cash Income Taxes Paid	-	-	-	-	0.06	0.00	-	0.02	-0.06	-0.01	-0.02

This table presents Alexander & Baldwin'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	2,322	2,242	2,156	2,231	2,225	2,084	2,036	1,880	1,787	1,646	1,670
Total Current Assets	168	153	138	275	238	222	229	155	131	136	163
Cash & Equivalents	2.80	1.30	2.20	69	11	15	57	65	33	14	33
Short-Term Investments	-	-	-	-	-	-	-	-	-	-	0.00
Accounts Receivable	49	55	49	34	106	79	58	12	6.10	24	20
Prepaid Expenses	16	15	20	11	94	107	96	78	92	99	109
Plant, Property, & Equipment, net	1,526	1,453	1,411	1,299	1,187	1,413	1,667	1,408	-202	1,440	-256
Accumulated Depreciation	-	-	-	-	107	128	154	181	202	227	256
Total Noncurrent Assets	628	637	607	658	801	449	1,962	317	1,859	71	1,763
Long-Term Investments	419	416	391	402	141	133	134	8.80	7.50	6.85	5.91
Goodwill	102	102	102	102	65	15	11	8.70	8.70	8.73	8.73
Intangible Assets	64	54	54	47	60	75	62	-	44	-	31
Other Noncurrent Operating Assets	44	64	60	91	535	226	1,755	297	1,792	51	1,718
Total Liabilities & Shareholders' Equity	2,322	2,242	2,156	2,231	2,225	2,084	2,036	1,880	1,787	1,646	1,670
Total Liabilities	1,107	1,004	932	1,572	1,009	949	933	806	744	643	667
Total Current Liabilities	183	185	165	927	116	129	126	99	188	99	112
Accounts Payable	38	36	35	43	34	18	9.80	3.40	4.50	5.85	4.53
Accrued Expenses	-	-	-	-	82	111	117	95	102	93	107
Total Noncurrent Liabilities	924	819	767	645	893	821	807	708	556	544	555
Long-Term Debt	632	497	473	585	778	705	687	531	472	464	475
Noncurrent Deferred Revenue	-	-	-	2.50	63	68	67	68	69	70	72
Noncurrent Employee Benefit Liabilities	55	60	65	23	29	27	35	56	10	9.97	7.58
Other Noncurrent Operating Liabilities	52	61	48	35	22	22	18	6.50	4.90	-	0.00
Commitments & Contingencies	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,215	1,227	1,213	651	1,208	1,129	1,096	1,067	1,036	1,003	1,004
Total Preferred & Common Equity	1,204	1,224	1,209	646	1,203	1,125	1,096	1,067	1,036	1,003	1,004
Total Common Equity	1,204	1,224	1,209	646	1,203	1,125	1,096	1,067	1,036	1,003	1,004
Common Stock	1,147	1,152	1,157	1,162	1,793	1,800	1,806	1,811	1,808	1,809	1,812
Retained Earnings	101	117	95	-473	-539	-626	-649	-663	-775	-809	-814
Accumulated Other Comprehensive Income / (Loss)	-44	-45	-43	-42	-52	-49	-60	-81	1.80	3.25	6.13

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

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	1,854	1,848	1,756	1,785	1,786	1,636	1,642	1,650	1,649	1,642
Total Current Assets	185	171	111	106	122	135	144	135	144	145
Cash & Equivalents	33	7.30	11	8.20	12	16	30	18	17	8.58
Short-Term Investments	-	-	-	-	-	-	-	-	9.22	9.42
Accounts Receivable	5.80	-	8.00	6.30	7.30	15	14	13	11	13
Prepaid Expenses	122	134	93	91	103	104	101	105	107	114
Plant, Property, & Equipment, net	1,463	1,401	1,451	1,458	1,397	1,378	1,369	1,450	1,413	-271
Accumulated Depreciation	191	198	209	217	223	235	242	249	263	271
Total Noncurrent Assets	206	276	194	221	267	68	68	65	92	1,768
Long-Term Investments	8.80	8.20	7.40	7.40	7.40	6.83	6.77	5.91	5.91	5.91
Goodwill	8.70	8.70	8.70	8.70	8.70	8.73	8.73	8.73	8.73	8.73
Intangible Assets	-	-	-	-	-	-	-	-	-	28
Other Noncurrent Operating Assets	154	217	173	200	248	49	48	47	77	1,725
Total Liabilities & Shareholders' Equity	1,854	1,848	1,756	1,785	1,786	1,636	1,642	1,650	1,649	1,642
Total Liabilities	710	713	729	752	747	630	640	652	643	629
Total Current Liabilities	118	124	87	86	85	92	91	99	108	116
Accounts Payable	15	19	4.90	5.20	6.10	4.35	5.24	4.91	4.49	6.60
Accrued Expenses	103	106	82	80	78	87	86	94	104	109
Total Noncurrent Liabilities	592	588	642	667	663	538	549	553	535	513
Long-Term Debt	476	470	479	507	508	458	470	472	453	450
Noncurrent Deferred Revenue	69	71	72	72	72	72	71	72	75	10
Noncurrent Employee Benefit Liabilities	11	10	10	10	10	8.28	8.22	8.17	7.54	7.48
Other Noncurrent Operating Liabilities	37	37	2.90	2.00	2.00	-	-	-	-	45
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,136	1,127	1,020	1,024	1,029	1,006	1,002	998	1,005	1,013
Total Preferred & Common Equity	1,136	1,127	1,020	1,024	1,029	1,006	1,002	998	1,005	1,013
Total Common Equity	1,136	1,127	1,020	1,024	1,029	1,006	1,002	998	1,005	1,013
Common Stock	1,811	1,809	1,808	1,810	1,810	1,808	1,809	1,810	1,812	1,813
Retained Earnings	-677	-687	-785	-788	-790	-806	-813	-810	-809	-801
Accumulated Other Comprehensive Income / (Loss)	1.90	4.50	-2.20	1.50	8.60	3.98	5.21	-2.06	2.51	0.50

This table displays calculated financial ratios and metrics derived from Alexander & Baldwin'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	24.95%	3.62%	-18.04%	9.81%	51.45%	-32.46%	-56.27%	33.47%	-9.23%	-9.42%	13.31%
EBITDA Growth	72.04%	8.64%	15.83%	-59.52%	210.40%	-92.34%	407.78%	45.40%	-37.36%	27.83%	20.64%
EBIT Growth	115.63%	13.53%	-42.66%	-46.57%	507.99%	-119.30%	225.15%	97.87%	-53.15%	57.96%	33.67%
NOPAT Growth	226.55%	-14.75%	-15.13%	1,228.99%	-81.77%	-92.65%	387.03%	97.24%	166.97%	-71.68%	23.19%
Net Income Growth	85.34%	-51.78%	-127.01%	2,844.05%	-130.28%	44.99%	113.54%	588.46%	-238.49%	166.48%	83.65%
EPS Growth	64.47%	-51.78%	-127.01%	2,511.11%	-123.50%	1.96%	108.00%	500.00%	-245.83%	158.57%	102.44%
Operating Cash Flow Growth	205.48%	219.55%	-13.87%	-101.17%	23,938.46%	-49.14%	-59.96%	96.83%	-72.66%	97.59%	46.05%
Free Cash Flow Firm Growth	115.25%	43.94%	-26.19%	272.21%	-128.61%	235.14%	-1,154.82%	214.46%	-87.16%	-29.75%	-49.95%
Invested Capital Growth	-2.30%	-6.09%	-4.32%	18.51%	14.92%	-8.19%	102.24%	-53.92%	-1.26%	-7.04%	-0.52%
Revenue Q/Q Growth	-23.92%	-7.38%	29.17%	2.78%	37.84%	-30.61%	-54.46%	88.71%	44.91%	-7.92%	4.20%
EBITDA Q/Q Growth	78.96%	61.84%	143.20%	-39.74%	80.98%	-85.35%	26.00%	25.94%	-17.31%	-7.01%	3.17%
EBIT Q/Q Growth	7.53%	1.62%	-24.40%	-41.34%	122.21%	-151.06%	227.91%	43.81%	-37.46%	-10.76%	4.49%
NOPAT Q/Q Growth	-0.94%	10.75%	-7.49%	1,627.42%	-70.04%	-79.91%	-36.91%	44.50%	62.62%	-6.55%	0.62%
Net Income Q/Q Growth	-16.02%	-39.14%	59.81%	1,113.16%	-125.10%	78.57%	-42.86%	17.38%	-252.09%	183.45%	34.85%
EPS Q/Q Growth	-18.83%	-39.14%	59.81%	1,256.25%	-126.56%	59.35%	-93.39%	-15.79%	-433.33%	177.36%	31.75%
Operating Cash Flow Q/Q Growth	-45.70%	-15.29%	78.78%	-107.39%	279.78%	-58.11%	-30.51%	33.40%	-48.55%	-2.22%	0.85%
Free Cash Flow Firm Q/Q Growth	138.62%	-15.31%	24.23%	4,322.81%	-214.06%	140.50%	-1,127.58%	1,876.77%	73.40%	188.20%	-62.24%
Invested Capital Q/Q Growth	-3.51%	-1.53%	-3.40%	10.67%	5.35%	-2.03%	109.71%	-1.02%	-2.10%	-9.49%	-0.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.50%	47.80%	30.71%	29.02%	40.66%	16.45%	33.68%	46.89%	42.35%	48.99%	45.49%
EBITDA Margin	30.20%	31.66%	44.75%	16.50%	33.81%	3.84%	44.56%	48.54%	33.50%	47.27%	50.33%
Operating Margin	16.81%	19.88%	13.91%	6.77%	26.82%	2.92%	22.28%	33.62%	50.19%	30.95%	33.71%
EBIT Margin	18.15%	19.88%	13.91%	6.77%	27.17%	-7.77%	22.23%	32.95%	17.01%	29.66%	34.99%
Profit (Net Income) Margin	14.14%	6.58%	-2.17%	54.17%	-10.83%	-8.82%	2.73%	14.09%	-21.50%	15.78%	25.58%
Tax Burden Percent	157.70%	31.45%	-23.80%	2,328.28%	131.95%	98.71%	27.51%	47.48%	-263.56%	80.70%	94.33%
Interest Burden Percent	49.40%	105.21%	65.49%	34.38%	-30.21%	115.09%	44.68%	90.08%	47.98%	65.95%	77.52%
Effective Tax Rate	10.02%	37.41%	7.37%	-2,204.04%	0.00%	0.00%	-2.12%	0.00%	-97.02%	0.09%	0.27%
Return on Invested Capital (ROIC)	4.53%	4.03%	3.61%	44.91%	7.02%	0.50%	1.69%	3.42%	14.56%	4.30%	5.51%
ROIC Less NNEP Spread (ROIC-NNEP)	3.17%	-7.89%	-34.87%	-35.89%	-17.29%	-7.50%	-0.96%	-0.10%	-40.15%	-2.31%	1.19%
Return on Net Nonoperating Assets (RNNOA)	0.88%	-1.50%	-4.29%	-20.43%	-14.47%	-3.77%	-1.23%	-0.13%	-19.24%	-1.08%	0.52%
Return on Equity (ROE)	5.41%	2.54%	-0.68%	24.48%	-7.44%	-3.27%	0.46%	3.29%	-4.68%	3.22%	6.03%
Cash Return on Invested Capital (CROIC)	6.86%	10.31%	8.03%	27.97%	-6.87%	9.05%	-65.96%	77.24%	15.82%	11.59%	6.04%
Operating Return on Assets (OROA)	3.60%	4.12%	2.45%	1.31%	7.86%	-1.57%	2.05%	4.28%	2.14%	3.61%	4.99%
Return on Assets (ROA)	2.80%	1.36%	-0.38%	10.51%	-3.13%	-1.78%	0.25%	1.83%	-2.70%	1.92%	3.65%
Return on Common Equity (ROCE)	5.37%	2.51%	-0.67%	24.12%	-7.34%	-3.23%	0.46%	3.27%	-4.65%	3.21%	6.03%
Return on Equity Simple (ROE_SIMPLE)	5.36%	2.54%	-0.69%	35.66%	-5.80%	-3.41%	0.47%	3.36%	-4.79%	3.29%	6.03%
Net Operating Profit after Tax (NOPAT)	69	59	50	664	121	8.89	43	85	228	65	80
NOPAT Margin	15.12%	12.44%	12.89%	155.95%	18.77%	2.04%	22.75%	33.62%	98.89%	30.92%	33.62%
Net Nonoperating Expense Percent (NNEP)	1.36%	11.93%	38.48%	80.80%	24.31%	8.00%	2.65%	3.52%	54.71%	6.61%	4.33%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	15.12%	4.40%	5.38%
Cost of Revenue to Revenue	54.50%	52.20%	69.29%	70.98%	59.34%	20.45%	66.32%	53.11%	57.65%	51.01%	54.51%
SG&A Expenses to Revenue	11.59%	10.91%	13.42%	15.61%	9.50%	13.53%	16.34%	14.41%	15.56%	16.29%	12.60%
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	28.69%	27.92%	16.80%	22.26%	13.84%	13.53%	11.40%	13.27%	-7.84%	18.04%	11.78%
Earnings before Interest and Taxes (EBIT)	83	94	54	29	175	-34	42	84	39	62	83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	138	150	173	70	218	17	85	123	77	99	119
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.83	0.74	0.96	0.71	0.90	1.13	0.98	1.52	1.19	1.31	1.28
Price to Tangible Book Value (P/TBV)	0.96	0.85	1.10	0.93	1.00	1.23	1.04	1.53	1.25	1.32	1.30
Price to Revenue (P/Rev)	2.18	1.91	2.99	1.08	1.68	2.93	5.62	6.36	5.33	6.28	5.45
Price to Earnings (P/E)	16.20	30.47	0.00	2.02	0.00	0.00	190.84	45.65	0.00	43.98	21.28
Dividend Yield	0.83%	1.14%	1.06%	72.40%	0.00%	3.91%	2.30%	3.01%	4.90%	4.88%	5.03%
Earnings Yield	6.17%	3.28%	0.00%	49.56%	0.00%	0.00%	0.52%	2.19%	0.00%	2.27%	4.70%
Enterprise Value to Invested Capital (EV/IC)	0.86	0.77	0.96	0.40	0.94	1.09	0.46	1.32	1.07	1.21	1.20
Enterprise Value to Revenue (EV/Rev)	2.83	2.30	3.34	1.49	2.67	4.23	8.26	8.19	7.24	8.40	7.29
Enterprise Value to EBITDA (EV/EBITDA)	9.36	7.26	7.46	9.03	7.90	110.32	18.53	16.87	21.61	17.77	14.48
Enterprise Value to EBIT (EV/EBIT)	15.58	11.56	24.01	22.01	9.84	0.00	37.14	24.84	42.57	28.33	20.82
Enterprise Value to NOPAT (EV/NOPAT)	18.70	18.46	25.92	0.96	14.24	207.24	36.28	24.35	7.32	27.17	21.67
Enterprise Value to Operating Cash Flow (EV/OCF)	31.94	8.41	11.64	0.00	5.56	11.69	24.90	16.74	49.15	26.15	17.59
Enterprise Value to Free Cash Flow (EV/FCFF)	12.35	7.22	11.66	1.53	0.00	11.53	0.00	1.08	6.74	10.08	19.79
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.58	0.47	0.42	0.96	0.64	0.62	0.62	0.49	0.45	0.46	0.47
Long-Term Debt to Equity	0.52	0.40	0.39	0.89	0.64	0.62	0.62	0.49	0.45	0.46	0.47
Financial Leverage	0.28	0.19	0.12	0.57	0.84	0.50	1.28	1.30	0.48	0.47	0.44
Leverage Ratio	1.93	1.86	1.79	2.33	2.38	1.83	1.84	1.80	1.73	1.68	1.65
Compound Leverage Factor	0.95	1.96	1.17	0.80	-0.72	2.11	0.82	1.62	0.83	1.11	1.28
Debt to Total Capital	36.76%	32.15%	29.62%	48.92%	39.02%	38.30%	38.39%	33.09%	31.15%	31.63%	32.12%
Short-Term Debt to Total Capital	3.88%	4.95%	2.44%	3.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	32.88%	27.20%	27.18%	45.35%	39.02%	38.30%	38.39%	33.09%	31.15%	31.63%	32.12%
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	0.57%	0.83%	0.85%	0.98%	0.68%	0.54%	0.36%	0.43%	0.53%	0.00%	0.00%
Common Equity to Total Capital	62.68%	67.02%	69.54%	50.10%	60.30%	61.16%	61.24%	66.48%	68.32%	68.37%	67.88%
Debt to EBITDA	5.12	3.92	2.97	8.99	3.57	42.19	8.10	4.30	6.11	4.70	3.99
Net Debt to EBITDA	2.07	1.13	0.70	2.29	2.87	33.29	5.85	3.70	5.59	4.49	3.66
Long-Term Debt to EBITDA	4.58	3.32	2.73	8.34	3.57	42.19	8.10	4.30	6.11	4.70	3.99
Debt to NOPAT	10.23	9.98	10.32	0.95	6.43	79.26	15.87	6.22	2.07	7.19	5.97
Net Debt to NOPAT	4.12	2.88	2.45	0.24	5.17	62.54	11.45	5.35	1.89	6.87	5.47
Long-Term Debt to NOPAT	9.15	8.44	9.47	0.88	6.43	79.26	15.87	6.22	2.07	7.19	5.97
Altman Z-Score	0.91	0.94	1.05	-0.24	0.92	0.60	0.46	1.03	0.55	0.81	0.82
Noncontrolling Interest Sharing Ratio	0.83%	1.06%	1.21%	1.46%	1.40%	1.00%	0.73%	0.62%	0.70%	0.39%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.92	0.83	0.84	0.30	2.05	1.73	1.81	1.57	0.70	1.37	1.42
Quick Ratio	0.33	0.37	0.39	0.11	1.01	0.74	0.91	0.78	0.21	0.38	0.45
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	105	150	111	413	-118	160	-1,686	1,929	248	174	87
Operating Cash Flow to CapEx	61.59%	0.00%	0.00%	0.00%	0.00%	487.93%	0.00%	454.95%	0.00%	367.69%	4,909.37%
Free Cash Flow to Firm to Interest Expense	3.60	5.13	3.97	16.14	-3.35	4.83	-55.81	73.64	11.27	7.58	3.76
Operating Cash Flow to Interest Expense	1.39	4.41	3.97	-0.05	8.78	4.76	2.09	4.74	1.54	2.92	4.23
Operating Cash Flow Less CapEx to Interest Expense	-0.87	4.52	5.94	0.53	12.10	3.79	2.17	3.70	3.88	2.13	4.14
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.20	0.21	0.18	0.19	0.29	0.20	0.09	0.13	0.13	0.12	0.14
Accounts Receivable Turnover	9.51	9.10	7.50	10.30	9.17	4.68	2.78	7.33	26.05	14.06	11.74
Inventory Turnover	2.95	3.52	5.36	4.21	6.08	3.77	6.46	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.30	0.32	0.27	0.31	0.52	0.33	0.12	0.17	0.00	0.00	0.16
Accounts Payable Turnover	7.09	6.75	7.60	7.69	9.87	3.42	9.14	20.44	33.65	20.60	24.87
Days Sales Outstanding (DSO)	38.40	40.11	48.70	35.43	39.79	77.91	131.48	49.79	14.01	25.95	31.08
Days Inventory Outstanding (DIO)	123.57	103.75	68.11	86.78	60.04	96.79	56.54	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	51.51	54.05	48.05	47.44	36.99	106.63	39.91	17.86	10.85	17.72	14.68
Cash Conversion Cycle (CCC)	110.46	89.80	68.75	74.77	62.84	68.07	148.11	31.93	3.16	8.23	16.40
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,505	1,414	1,352	1,603	1,842	1,691	3,420	1,576	1,556	1,447	1,439
Invested Capital Turnover	0.30	0.32	0.28	0.29	0.37	0.25	0.07	0.10	0.15	0.14	0.16
Increase / (Decrease) in Invested Capital	-36	-92	-61	250	239	-151	1,729	-1,844	-20	-109	-7.57
Enterprise Value (EV)	1,290	1,086	1,294	634	1,722	1,842	1,571	2,080	1,669	1,755	1,724
Market Capitalization	995	902	1,157	461	1,083	1,276	1,069	1,616	1,230	1,311	1,289
Book Value per Share	$24.69	$25.04	$24.67	$13.14	$16.70	$15.57	$15.15	$14.71	$14.28	$13.83	$13.82
Tangible Book Value per Share	$21.28	$21.83	$21.49	$10.11	$14.96	$14.32	$14.15	$14.59	$13.56	$13.71	$13.70
Total Capital	1,921	1,826	1,739	1,290	1,994	1,840	1,790	1,604	1,516	1,467	1,478
Total Debt	706	587	515	631	778	705	687	531	472	464	475
Total Long-Term Debt	632	497	473	585	778	705	687	531	472	464	475
Net Debt	285	169	122	161	626	556	496	457	431	444	435
Capital Expenditures (CapEx)	66	-3.40	-55	-15	-117	32	-2.30	27	-51	18	2.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	56	57	13	-675	110	79	45	-8.80	-90	23	14
Debt-free Net Working Capital (DFNWC)	59	58	16	-606	122	94	103	57	-57	37	47
Net Working Capital (NWC)	-15	-32	-27	-652	122	94	103	57	-57	37	47
Net Nonoperating Expense (NNE)	4.51	28	58	433	191	47	38	50	278	32	19
Net Nonoperating Obligations (NNO)	290	175	128	944	626	556	2,317	502	512	444	435
Total Depreciation and Amortization (D&A)	55	56	120	41	43	51	43	40	38	37	36
Debt-free, Cash-free Net Working Capital to Revenue	12.34%	12.03%	3.46%	-158.61%	17.12%	18.04%	23.86%	-3.46%	-39.04%	11.16%	5.74%
Debt-free Net Working Capital to Revenue	12.95%	12.31%	4.03%	-142.42%	18.89%	21.53%	53.91%	22.28%	-24.59%	17.63%	19.87%
Net Working Capital to Revenue	-3.38%	-6.81%	-6.92%	-153.23%	18.89%	21.53%	53.91%	22.28%	-24.59%	17.63%	19.87%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.05	$1.31	($0.44)	$4.68	($1.02)	($0.51)	$0.08	$0.98	($0.70)	$0.41	$0.83
Adjusted Weighted Average Basic Shares Outstanding	20.10M	20.19M	20.23M	49.20M	70.60M	72.20M	72.30M	72.50M	72.60M	72.60M	72.61M
Adjusted Diluted Earnings per Share	$3.03	$1.31	($0.44)	$4.34	($1.02)	($0.51)	$0.08	$0.98	($0.70)	$0.41	$0.83
Adjusted Weighted Average Diluted Shares Outstanding	20.35M	20.35M	20.39M	53M	70.60M	72.20M	72.40M	72.60M	72.80M	72.80M	72.75M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$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	20.16M	20.21M	20.26M	71.95M	72.09M	72.31M	72.47M	72.68M	72.59M	72.59M	72.71M
Normalized Net Operating Profit after Tax (NOPAT)	69	59	61	36	177	8.89	23	60	43	68	78
Normalized NOPAT Margin	15.12%	12.44%	15.68%	8.42%	27.40%	2.04%	12.32%	23.51%	18.75%	32.67%	32.82%
Pre Tax Income Margin	8.96%	20.92%	9.11%	2.33%	-8.21%	-8.94%	9.93%	29.69%	8.16%	19.56%	27.12%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.86	3.21	1.93	1.13	4.96	-1.02	1.40	3.19	1.78	2.70	3.57
NOPAT to Interest Expense	2.38	2.01	1.78	25.92	3.43	0.27	1.43	3.26	10.37	2.81	3.43
EBIT Less CapEx to Interest Expense	0.59	3.32	3.89	1.70	8.28	-2.00	1.48	2.15	4.12	1.90	3.49
NOPAT Less CapEx to Interest Expense	0.12	2.12	3.75	26.50	6.75	-0.71	1.51	2.22	12.71	2.02	3.35
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	13.18%	36.66%	-163.10%	4.69%	-225.36%	-130.99%	265.38%	130.17%	-116.43%	194.96%	107.34%
Augmented Payout Ratio	14.57%	40.19%	-163.10%	7.81%	-227.51%	-133.59%	276.92%	133.80%	-131.08%	211.35%	112.27%

This table displays calculated financial ratios and metrics derived from Alexander & Baldwin's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11,908.83%	-14.88%	3.95%	6.27%	-25.42%	21.46%	-3.90%	18.00%	18.18%	-12.20%	1.28%
EBITDA Growth	-34.11%	-1.91%	835.52%	35.23%	-23.95%	40.57%	1.79%	21.04%	15.32%	1.13%	51.71%
EBIT Growth	-51.62%	1.90%	326.85%	64.73%	-33.97%	67.91%	4.09%	33.77%	24.25%	0.83%	73.33%
NOPAT Growth	-53.09%	-17.23%	-65.12%	60.25%	-20.92%	67.06%	-0.41%	29.38%	2.98%	1.02%	75.21%
Net Income Growth	-1,284.06%	-51.75%	78.50%	133.81%	95.73%	276.45%	-39.26%	19.53%	484.28%	7.26%	175.89%
EPS Growth	-1,300.00%	-50.00%	260.00%	122.22%	95.92%	300.00%	-27.78%	30.00%	500.00%	3.57%	169.23%
Operating Cash Flow Growth	-56.22%	-24.51%	156.18%	314.39%	-5.92%	191.44%	501.51%	2.66%	3.57%	61.86%	-26.04%
Free Cash Flow Firm Growth	-97.80%	-91.89%	-115.84%	-37.69%	205.08%	3,803.84%	4,040.13%	1,995.36%	-80.06%	-107.89%	-115.30%
Invested Capital Growth	-1.26%	0.58%	1.41%	0.55%	-7.04%	-11.53%	-14.11%	-9.49%	-0.52%	2.90%	4.74%
Revenue Q/Q Growth	43.43%	-28.83%	5.41%	-1.17%	0.66%	15.82%	-16.59%	21.35%	0.81%	-13.95%	-3.79%
EBITDA Q/Q Growth	60.17%	-25.18%	8.20%	4.40%	-9.92%	38.16%	-24.57%	24.14%	-14.18%	21.16%	15.10%
EBIT Q/Q Growth	111.64%	-35.62%	13.71%	6.37%	-15.16%	63.64%	-33.07%	36.70%	-21.20%	32.80%	17.33%
NOPAT Q/Q Growth	104.90%	-34.39%	13.54%	5.09%	1.10%	38.48%	-32.31%	36.52%	-19.52%	35.83%	17.40%
Net Income Q/Q Growth	-1,214.41%	107.01%	182.48%	6.04%	-120.37%	717.11%	-54.42%	108.65%	-34.52%	72.25%	17.24%
EPS Q/Q Growth	-1,188.89%	107.14%	157.14%	11.11%	-120.00%	800.00%	-53.57%	100.00%	-38.46%	81.25%	20.69%
Operating Cash Flow Q/Q Growth	200.67%	-77.96%	-32.72%	827.56%	-31.74%	-31.59%	38.87%	58.31%	-31.13%	6.91%	-36.55%
Free Cash Flow Firm Q/Q Growth	212.17%	-87.38%	-217.18%	235.06%	1,428.50%	61.39%	18.27%	-28.18%	-85.45%	-163.84%	-129.36%
Invested Capital Q/Q Growth	-2.10%	0.67%	2.13%	-0.11%	-9.49%	-4.20%	-0.84%	5.26%	-0.52%	-0.91%	0.94%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.25%	43.37%	49.09%	48.00%	55.22%	50.65%	41.85%	47.62%	41.29%	49.64%	45.62%
EBITDA Margin	44.08%	46.33%	47.55%	50.23%	44.95%	53.62%	50.37%	51.53%	43.86%	61.76%	73.88%
Operating Margin	30.65%	28.27%	30.44%	32.36%	32.61%	38.86%	31.80%	35.62%	28.32%	44.63%	54.42%
EBIT Margin	31.07%	28.11%	30.32%	32.64%	27.50%	38.86%	32.84%	37.00%	28.92%	44.63%	54.42%
Profit (Net Income) Margin	-106.95%	10.53%	28.23%	30.29%	-6.13%	32.65%	17.84%	30.68%	19.93%	39.88%	48.60%
Tax Burden Percent	-473.27%	55.81%	138.96%	132.44%	-37.92%	98.74%	76.98%	98.06%	97.76%	100.84%	100.15%
Interest Burden Percent	72.75%	67.15%	66.99%	70.07%	58.75%	85.09%	70.58%	84.56%	70.48%	88.63%	89.17%
Effective Tax Rate	0.00%	0.05%	0.02%	0.00%	0.33%	0.00%	0.84%	0.39%	0.00%	-0.18%	-0.24%
Return on Invested Capital (ROIC)	4.51%	4.01%	4.28%	4.60%	4.52%	5.78%	4.62%	5.29%	4.65%	7.29%	8.91%
ROIC Less NNEP Spread (ROIC-NNEP)	-14.70%	2.26%	4.05%	4.39%	0.25%	4.95%	3.13%	4.70%	3.45%	6.64%	8.14%
Return on Net Nonoperating Assets (RNNOA)	-7.05%	1.09%	1.86%	2.05%	0.12%	2.24%	1.44%	2.33%	1.51%	2.64%	3.23%
Return on Equity (ROE)	-2.53%	5.10%	6.15%	6.65%	4.64%	8.02%	6.06%	7.62%	6.16%	9.93%	12.14%
Cash Return on Invested Capital (CROIC)	15.82%	6.64%	2.54%	3.79%	11.59%	17.26%	20.16%	15.16%	6.04%	2.82%	1.90%
Operating Return on Assets (OROA)	3.91%	3.45%	3.73%	4.07%	3.35%	5.03%	4.17%	4.89%	4.13%	6.23%	7.62%
Return on Assets (ROA)	-13.45%	1.29%	3.47%	3.78%	-0.75%	4.23%	2.27%	4.06%	2.84%	5.57%	6.80%
Return on Common Equity (ROCE)	-2.52%	5.07%	6.10%	6.60%	4.62%	7.99%	6.03%	7.58%	6.16%	9.93%	12.14%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-5.41%	-4.75%	-3.84%	0.00%	4.73%	4.17%	4.50%	0.00%	6.17%	7.70%
Net Operating Profit after Tax (NOPAT)	22	14	16	17	17	24	16	22	18	24	28
NOPAT Margin	30.65%	28.25%	30.43%	32.36%	32.50%	38.86%	31.54%	35.48%	28.32%	44.71%	54.55%
Net Nonoperating Expense Percent (NNEP)	19.22%	1.75%	0.23%	0.21%	4.27%	0.83%	1.49%	0.59%	1.19%	0.65%	0.77%
Return On Investment Capital (ROIC_SIMPLE)	1.44%	-	-	-	1.17%	1.62%	-	-	1.20%	1.65%	1.93%
Cost of Revenue to Revenue	57.75%	56.63%	50.91%	52.00%	44.78%	49.35%	58.15%	52.38%	58.71%	50.36%	54.38%
SG&A Expenses to Revenue	11.53%	17.32%	18.66%	14.41%	14.81%	11.83%	14.21%	12.00%	12.64%	13.01%	13.57%
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	11.59%	15.11%	18.66%	15.64%	22.61%	11.79%	10.04%	12.00%	12.97%	5.01%	-8.80%
Earnings before Interest and Taxes (EBIT)	22	14	16	17	15	24	17	23	18	24	28
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	31	23	25	26	24	33	26	32	27	33	38
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.19	1.26	1.25	1.12	1.31	1.13	1.23	1.40	1.28	1.25	1.28
Price to Tangible Book Value (P/TBV)	1.25	1.27	1.26	1.13	1.32	1.14	1.24	1.41	1.30	1.26	1.33
Price to Revenue (P/Rev)	5.33	5.81	5.73	5.10	6.28	5.18	5.66	6.14	5.45	5.47	5.64
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	43.98	25.58	30.61	31.28	21.28	20.21	16.62
Dividend Yield	4.90%	4.85%	4.99%	5.53%	4.88%	5.65%	5.23%	4.64%	5.03%	5.19%	5.03%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	2.27%	3.91%	3.27%	3.20%	4.70%	4.95%	6.02%
Enterprise Value to Invested Capital (EV/IC)	1.07	1.12	1.11	1.03	1.21	1.13	1.21	1.27	1.20	1.17	1.20
Enterprise Value to Revenue (EV/Rev)	7.24	7.92	7.96	7.29	8.40	7.16	7.65	8.11	7.29	7.30	7.50
Enterprise Value to EBITDA (EV/EBITDA)	21.61	22.89	17.94	15.58	17.77	14.19	15.15	15.96	14.48	14.37	13.31
Enterprise Value to EBIT (EV/EBIT)	42.57	44.52	28.42	23.83	28.33	21.20	22.67	23.26	20.82	20.93	18.75
Enterprise Value to NOPAT (EV/NOPAT)	7.32	15.58	28.40	23.93	27.17	21.21	22.47	23.31	21.67	20.97	18.75
Enterprise Value to Operating Cash Flow (EV/OCF)	49.15	54.54	41.89	24.10	26.15	20.25	17.30	18.97	17.59	15.51	16.87
Enterprise Value to Free Cash Flow (EV/FCFF)	6.74	16.93	44.08	27.38	10.08	6.17	5.55	7.99	19.79	42.21	64.51
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.45	0.47	0.49	0.49	0.46	0.45	0.47	0.47	0.47	0.45	0.44
Long-Term Debt to Equity	0.45	0.47	0.49	0.49	0.46	0.45	0.47	0.47	0.47	0.45	0.44
Financial Leverage	0.48	0.48	0.46	0.47	0.47	0.45	0.46	0.49	0.44	0.40	0.40
Leverage Ratio	1.73	1.72	1.67	1.67	1.68	1.67	1.68	1.69	1.65	1.63	1.63
Compound Leverage Factor	1.26	1.15	1.12	1.17	0.99	1.42	1.19	1.43	1.17	1.45	1.45
Debt to Total Capital	31.15%	31.80%	32.92%	32.83%	31.63%	31.26%	31.93%	32.11%	32.12%	31.06%	30.77%
Short-Term Debt 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%
Long-Term Debt to Total Capital	31.15%	31.80%	32.92%	32.83%	31.63%	31.26%	31.93%	32.11%	32.12%	31.06%	30.77%
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	0.53%	0.50%	0.60%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	68.32%	67.69%	66.48%	66.54%	68.37%	68.74%	68.07%	67.89%	67.88%	68.94%	69.23%
Debt to EBITDA	6.11	6.24	5.10	4.78	4.70	4.13	4.28	4.09	3.99	3.89	3.48
Net Debt to EBITDA	5.59	6.01	4.95	4.60	4.49	3.93	3.95	3.88	3.66	3.61	3.29
Long-Term Debt to EBITDA	6.11	6.24	5.10	4.78	4.70	4.13	4.28	4.09	3.99	3.89	3.48
Debt to NOPAT	2.07	4.25	8.08	7.35	7.19	6.17	6.34	5.97	5.97	5.67	4.90
Net Debt to NOPAT	1.89	4.09	7.83	7.07	6.87	5.87	5.85	5.67	5.47	5.27	4.64
Long-Term Debt to NOPAT	2.07	4.25	8.08	7.35	7.19	6.17	6.34	5.97	5.97	5.67	4.90
Altman Z-Score	0.52	0.60	0.57	0.49	0.72	0.61	0.67	0.81	0.69	0.69	0.77
Noncontrolling Interest Sharing Ratio	0.70%	0.71%	0.78%	0.82%	0.39%	0.37%	0.45%	0.48%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.70	1.29	1.24	1.44	1.37	1.47	1.59	1.37	1.42	1.33	1.25
Quick Ratio	0.21	0.22	0.17	0.23	0.38	0.34	0.47	0.31	0.45	0.34	0.27
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	42	5.24	-6.14	8.29	127	204	242	174	25	-16	-37
Operating Cash Flow to CapEx	233.36%	401.38%	130.38%	565.32%	295.48%	450.90%	505.99%	913.09%	0.00%	3,708.56%	345.23%
Free Cash Flow to Firm to Interest Expense	7.85	1.04	-1.05	1.36	21.15	48.18	40.78	30.57	4.17	-2.80	-6.56
Operating Cash Flow to Interest Expense	4.72	1.09	0.63	5.66	3.92	3.79	3.76	6.22	4.02	4.52	2.93
Operating Cash Flow Less CapEx to Interest Expense	2.70	0.82	0.15	4.66	2.59	2.95	3.02	5.54	5.65	4.40	2.08
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.13	0.12	0.12	0.12	0.12	0.13	0.13	0.13	0.14	0.14	0.14
Accounts Receivable Turnover	26.05	21.01	36.98	0.00	14.06	18.77	21.80	22.82	11.74	17.24	17.35
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.15	0.15	0.16	0.00	0.16	0.15	0.16	0.16	0.16	0.00
Accounts Payable Turnover	33.65	14.17	12.57	10.06	20.60	23.39	21.25	21.08	24.87	28.47	20.99
Days Sales Outstanding (DSO)	14.01	17.37	9.87	0.00	25.95	19.45	16.74	16.00	31.08	21.18	21.03
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	10.85	25.76	29.04	36.27	17.72	15.60	17.18	17.31	14.68	12.82	17.39
Cash Conversion Cycle (CCC)	3.16	-8.39	-19.17	-36.27	8.23	3.85	-0.44	-1.31	16.40	8.36	3.65
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,556	1,567	1,600	1,598	1,447	1,386	1,374	1,447	1,439	1,426	1,439
Invested Capital Turnover	0.15	0.14	0.14	0.14	0.14	0.15	0.15	0.15	0.16	0.16	0.16
Increase / (Decrease) in Invested Capital	-20	9.00	22	8.70	-109	-181	-226	-152	-7.57	40	65
Enterprise Value (EV)	1,669	1,757	1,781	1,654	1,755	1,572	1,665	1,843	1,724	1,674	1,723
Market Capitalization	1,230	1,288	1,281	1,156	1,311	1,137	1,231	1,394	1,289	1,253	1,296
Book Value per Share	$14.28	$14.05	$14.10	$14.17	$13.83	$13.86	$13.80	$13.74	$13.82	$13.82	$13.93
Tangible Book Value per Share	$13.56	$13.93	$13.98	$14.05	$13.71	$13.74	$13.68	$13.62	$13.70	$13.70	$13.42
Total Capital	1,516	1,507	1,540	1,546	1,467	1,464	1,471	1,470	1,478	1,458	1,463
Total Debt	472	479	507	508	464	458	470	472	475	453	450
Total Long-Term Debt	472	479	507	508	464	458	470	472	475	453	450
Net Debt	431	461	491	488	444	435	434	448	435	421	426
Capital Expenditures (CapEx)	11	1.37	2.84	6.08	7.95	3.56	4.41	3.87	-9.84	0.70	4.78
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-90	14	12	25	23	27	24	18	14	9.94	11
Debt-free Net Working Capital (DFNWC)	-57	25	20	37	37	43	53	36	47	36	29
Net Working Capital (NWC)	-57	25	20	37	37	43	53	36	47	36	29
Net Nonoperating Expense (NNE)	97	8.93	1.17	1.09	20	3.80	6.99	2.97	5.24	2.59	3.08
Net Nonoperating Obligations (NNO)	512	539	567	560	444	380	373	448	435	421	426
Total Depreciation and Amortization (D&A)	9.22	9.18	9.15	9.24	9.22	9.03	8.95	9.00	9.33	9.21	10
Debt-free, Cash-free Net Working Capital to Revenue	-39.04%	6.32%	5.36%	11.20%	11.16%	12.50%	10.93%	8.12%	5.74%	4.34%	4.90%
Debt-free Net Working Capital to Revenue	-24.59%	11.14%	9.03%	16.40%	17.63%	19.64%	24.50%	16.01%	19.87%	15.71%	12.73%
Net Working Capital to Revenue	-24.59%	11.14%	9.03%	16.40%	17.63%	19.64%	24.50%	16.01%	19.87%	15.71%	12.73%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.99)	$0.07	$0.18	$0.20	($0.04)	$0.28	$0.13	$0.26	$0.16	$0.29	$0.35
Adjusted Weighted Average Basic Shares Outstanding	72.64M	72.50M	72.60M	72.60M	72.56M	72.55M	72.62M	72.63M	72.61M	72.68M	72.74M
Adjusted Diluted Earnings per Share	($0.98)	$0.07	$0.18	$0.20	($0.04)	$0.28	$0.13	$0.26	$0.16	$0.29	$0.35
Adjusted Weighted Average Diluted Shares Outstanding	72.79M	72.60M	72.80M	72.80M	72.78M	72.67M	72.69M	72.82M	72.75M	72.82M	72.87M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$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	72.59M	72.59M	72.63M	72.54M	72.59M	72.59M	72.62M	72.63M	72.71M	72.71M	72.75M
Normalized Net Operating Profit after Tax (NOPAT)	15	13	16	12	17	17	14	22	12	17	12
Normalized NOPAT Margin	21.46%	26.04%	30.43%	23.52%	32.51%	27.18%	27.41%	35.48%	19.83%	30.99%	22.44%
Pre Tax Income Margin	22.60%	18.87%	20.31%	22.87%	16.16%	33.07%	23.18%	31.28%	20.38%	39.55%	48.53%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.16	2.81	2.75	2.82	2.43	5.61	2.83	4.03	2.98	4.17	4.99
NOPAT to Interest Expense	4.10	2.82	2.76	2.80	2.87	5.61	2.72	3.87	2.92	4.18	5.00
EBIT Less CapEx to Interest Expense	2.14	2.54	2.26	1.82	1.10	4.77	2.08	3.35	4.61	4.05	4.14
NOPAT Less CapEx to Interest Expense	2.08	2.55	2.27	1.79	1.54	4.77	1.97	3.19	4.55	4.06	4.16
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-116.43%	-113.66%	-132.17%	-162.66%	194.96%	102.19%	116.54%	108.87%	107.34%	104.95%	83.70%
Augmented Payout Ratio	-131.08%	-127.23%	-146.77%	-177.54%	211.35%	113.41%	129.31%	119.21%	112.27%	108.00%	86.30%

Key Financial Trends

Alexander & Baldwin (NYSE:ALEX) has demonstrated a mixed but improving financial performance over the last four years through Q2 2025. Here are the key financial trends and highlights based on their most recent quarterly filings and historical financial data:

Consistent Growth in Net Income: The company's consolidated net income has shown a strong upward trajectory, rising from a loss of approximately $71.7 million in Q4 2022 to a positive $25.1 million by Q2 2025. This turnaround reflects operational improvements and better profitability.
Increasing Earnings Per Share (EPS): Diluted EPS improved significantly from a negative $0.98 in Q4 2022 to $0.35 in Q2 2025, indicating enhanced shareholder value and earnings quality.
Robust Operating Income Growth: Total operating income grew from $21.7 million in Q4 2022 to $28.1 million in Q2 2025, demonstrating better efficiency and revenue management.
Strong Cash Flow from Operations: Net cash from continuing operating activities remained robust, reaching $16.6 million in Q2 2025. This provides healthy internal funding for capital expenditures and dividends.
Controlled Capital Expenditures: Capital spending on property, plant, and equipment was moderate at around $4.7 million in Q2 2025, suggesting disciplined investment aligned with operational needs.
Stable Revenue Levels: Operating revenues have been fairly stable around $50-$62 million quarterly over the last few years, with slight fluctuations reflecting market conditions.
Manageable Interest Expense: Interest expenses have remained in the $5.3 to $6.3 million range quarterly, balanced by modest interest and investment income, leading to net other expenses of around $3 million.
Elevated Debt Levels: Long-term debt remains high, around $450-$500 million in recent quarters, which results in significant interest payments and financial leverage risk.
Dividend Payouts are High Relative to Net Income: Dividend payments consistently exceed $16 million per quarter, occasionally limiting retained earnings growth and requiring efficient cash management to sustain payouts.
Volatile Non-Cash Adjustments and Discontinued Operations: Non-cash adjustments and income/losses from discontinued operations have been volatile, including a substantial loss in discontinued operations in Q4 2022 of $87.9 million, which negatively impacts net income and cash flow.

Summary: Alexander & Baldwin has made notable strides in improving profitability and cash flow since the significant losses in late 2022. The company’s operating income and net income growth through the first half of 2025 appear promising, alongside stable revenue and disciplined capital spending. However, the elevated debt and sizable dividend payouts present risks in terms of financial flexibility. Potential investors should weigh the company’s recovering earnings against its high leverage and cash outflows related to dividends and financing activities. Monitoring upcoming quarters for sustaining net income growth and managing debt will be critical for assessing Alexander & Baldwin's ongoing financial health.

08/29/25 04:51 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Alexander & Baldwin's Financials

When does Alexander & Baldwin's financial year end?

According to the most recent income statement we have on file, Alexander & Baldwin's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Alexander & Baldwin's net income changed over the last 10 years?

Alexander & Baldwin's net income appears to be on a downward trend, with a most recent value of $60.54 million in 2024, falling from $64.50 million in 2014. The previous period was $32.96 million in 2023. See Alexander & Baldwin's forecast for analyst expectations on what’s next for the company.

What is Alexander & Baldwin's operating income?

Alexander & Baldwin's total operating income in 2024 was $79.77 million, based on the following breakdown:

Total Gross Profit: $107.65 million
Total Operating Expenses: $27.88 million

How has Alexander & Baldwin's revenue changed over the last 10 years?

Over the last 10 years, Alexander & Baldwin's total revenue changed from $456.30 million in 2014 to $236.64 million in 2024, a change of -48.1%.

How much debt does Alexander & Baldwin have?

Alexander & Baldwin's total liabilities were at $666.89 million at the end of 2024, a 3.7% increase from 2023, and a 39.7% decrease since 2014.

How much cash does Alexander & Baldwin have?

In the past 10 years, Alexander & Baldwin's cash and equivalents has ranged from $1.30 million in 2015 to $68.90 million in 2017, and is currently $33.44 million as of their latest financial filing in 2024.

How has Alexander & Baldwin's book value per share changed over the last 10 years?

Over the last 10 years, Alexander & Baldwin's book value per share changed from 24.69 in 2014 to 13.82 in 2024, a change of -44.0%.

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This page (NYSE:ALEX) was last updated on 8/29/2025 by MarketBeat.com Staff

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Alexander & Baldwin (ALEX) Financials

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Alexander & Baldwin (ALEX) Financials

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