VIP Vulcan Infrastructure & Power Inc.

Overview and Growth

Fiscal 2025 results for Vulcan Infrastructure & Power Inc. combined $58.78M of revenue with net income of $5.29M and an operating cash outflow of $14.99M. Revenue of $58.78M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 1.3% below fiscal 2024 revenue of $59.53M, marking a top-line contraction. The company reported diluted EPS of $0.34, adding a shareholder-level measure to the absolute income figures considered below. The diluted weighted-average share count was 15.34M, linking total earnings with the per-share result received by shareholders. Compared with 10.50M diluted shares in fiscal 2024, the current 15.34M base was 46.0% higher. Total assets stood at $53.55M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 1.1x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The company recorded an operating loss of $3.79M after the reported operating expense base. The operating loss equaled 6.5% of revenue, showing the scale of the operating deficit relative to sales. After all reported below-operating-line items, the company recorded net income of $5.29M for the fiscal year. Measured against reported revenue, net income produced a 9.0% margin after operating costs and the remaining recognized items. Reported EBITDA totaled $8.02M, adding a pre-interest, tax, depreciation, and amortization perspective to the profitability profile. The earnings statement records $4.81M of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 8.2%, relating income before taxes directly to revenue. The company recognized an income-tax benefit of $479.00K, increasing after-tax earnings relative to the pretax result. Relative to positive pretax income, the tax benefit measured 10.0%. The net-income-to-assets relationship measured 9.9%, showing earnings relative to the full balance sheet. The bottom line improved from a $19.79M loss in fiscal 2024 to $5.29M of income.

Liquidity and Capital Structure

At period end, the $53.55M asset base was financed through $99.86M of liabilities and -$46.30M of equity. Equity was negative at -$46.30M, meaning liabilities exceeded the residual book value available to shareholders and weakening balance-sheet resilience. The near-term balance sheet paired $34.80M of current assets with $63.01M of current liabilities at the reporting date. Current assets covered only 0.55x of current liabilities, so current liabilities exceeded current assets at period end. The company held $19.57M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 31.1% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $43.09M, adding a fixed financing obligation alongside the company’s equity capital. Relative to total assets, debt measured 80.5%, showing how much of the asset base was matched by borrowing. Equity equaled -86.5% of assets, showing the shareholder-capital layer within the company’s balance sheet. The liabilities-to-assets relationship was 186.5%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 36.5% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 17.4% lower than fiscal 2024 assets of $64.86M, measuring the company’s own balance-sheet change. The reported cash balance changed 127.1% from $8.62M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

Operating activities used $14.99M of cash, resulting in an operating cash outflow for the year. Cash absorbed by operations increased from $12.04M in fiscal 2024 to $14.99M.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 26, 2026.