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Brightwater Retail Holdings · BWR
DEMO DATAUNDERWRITING ASSUMPTIONHOLDFinancial statements DEMO DATA ANALYST PROJECTION
| $M | FY2022A | FY2023A | FY2024A | FY2025A | FY2026E | FY2027E | FY2028E | FY2029E | FY2030E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.6B | $2.6B | $2.5B | $2.4B | $1.8B | $1.6B | $1.6B | $1.5B | $1.5B |
| % growth | -3.4% | -3.5% | -2.8% | -23.4% | -13.0% | -2.6% | -1.0% | -1.0% | |
| Direct costs / COGS | $1.6B | $1.6B | $1.6B | $1.5B | $1.3B | $1.1B | $1.1B | $1.1B | $1.1B |
| Gross profit (NOI for real estate) | $1.0B | $954.9M | $901.5M | $864.0M | $560.7M | $487.8M | $475.1M | $470.4M | $465.7M |
| % margin | 38.0% | 37.3% | 36.5% | 36.0% | 30.5% | 30.5% | 30.5% | 30.5% | 30.5% |
| Operating expenses (cash, adjusted) | $781.8M | $755.2M | $728.6M | $708.0M | $542.3M | $471.8M | $459.6M | $455.0M | $450.4M |
| EBITDA (company-adjusted basis) | $225.3M | $199.7M | $172.9M | $156.0M | $18.4M | $16.0M | $15.6M | $15.4M | $15.3M |
| % margin | 8.5% | 7.8% | 7.0% | 6.5% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% |
| D&A | $58.3M | $56.3M | $54.3M | $52.8M | $40.4M | $35.2M | $34.3M | $33.9M | $33.6M |
| Share-based compensation | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| EBIT | $167.0M | $143.4M | $118.6M | $103.2M | ($22.1M) | ($19.2M) | ($18.7M) | ($18.5M) | ($18.3M) |
| Interest expense | $101.2M | $107.1M | $113.1M | $119.0M | $140.0M | $143.8M | $141.3M | $140.6M | $140.0M |
| EBT | $65.8M | $36.2M | $5.5M | ($15.8M) | ($162.1M) | ($163.0M) | ($160.0M) | ($159.1M) | ($158.3M) |
| Taxes | $16.4M | $9.1M | $1.4M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income (model basis) | $49.3M | $27.2M | $4.1M | ($15.8M) | ($162.1M) | ($163.0M) | ($160.0M) | ($159.1M) | ($158.3M) |
| Capex | $53.0M | $51.2M | $49.4M | $48.0M | $29.4M | $25.6M | $24.9M | $24.7M | $24.4M |
| Working capital & other cash items | ($3.2M) | ($10.8M) | ($10.8M) | ($8.4M) | ($56.4M) | ($19.1M) | $4.4M | $7.4M | $7.3M |
| Free cash flow | $57.8M | $43.1M | $19.8M | ($2.6M) | ($94.7M) | ($134.4M) | ($155.0M) | ($157.3M) | ($156.4M) |
Historical columns are fictional demo inputs. Projections flow from the selected scenario’s assumptions (Scenarios tab): interest accrues on beginning balances by tranche; floating tranches use MAX(SOFR, floor) + spread + scenario shock; PIK accrues to principal. FCF = net income + D&A + SBC + PIK − capex − ΔNWC / other. Impairments, restructuring and other one-offs are excluded from EBITDA and net income and sit in the cash plug.
Sources & data lineage (3)
| Source | Document | Data type | Period | Accession | Doc date | Retrieved | Class |
|---|---|---|---|---|---|---|---|
| CreditIQ demo dataset | Brightwater Retail Holdings — illustrative financial statements FY2022–FY2025 | Income statement / cash flow | FY2022–FY2025 | — | 2026-03-31 | 2026-03-31 | DEMO DATA |
| CreditIQ demo dataset | Brightwater Retail Holdings — illustrative capital structure & covenants | Debt schedule | As of 2026-03-31 | — | 2026-03-31 | 2026-03-31 | DEMO DATA |
| CreditIQ demo dataset | Illustrative indicative bid marks (% of par) | Market price | 2026-03-31 | — | 2026-03-31 | 2026-03-31 | DEMO DATA |