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Ironclad Steel Products · ICSP
DEMO DATAUNDERWRITING ASSUMPTIONHOLDFinancial statements DEMO DATA ANALYST PROJECTION
| $M | FY2022A | FY2023A | FY2024A | FY2025A | FY2026E | FY2027E | FY2028E | FY2029E | FY2030E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.3B | $3.5B | $3.4B | $3.2B | $2.9B | $2.8B | $2.8B | $2.9B | $3.0B |
| % growth | 7.7% | -4.3% | -4.5% | -8.4% | -4.2% | 1.0% | 2.0% | 2.0% | |
| Direct costs / COGS | $2.5B | $2.8B | $2.7B | $2.6B | $2.4B | $2.4B | $2.4B | $2.4B | $2.4B |
| Gross profit (NOI for real estate) | $715.0M | $735.0M | $686.8M | $640.0M | $491.0M | $433.8M | $456.6M | $484.6M | $513.4M |
| % margin | 22.0% | 21.0% | 20.5% | 20.0% | 16.8% | 15.5% | 16.1% | 16.8% | 17.4% |
| Operating expenses (cash, adjusted) | $260.0M | $280.0M | $268.0M | $256.0M | $234.5M | $224.6M | $226.9M | $231.4M | $236.1M |
| EBITDA (company-adjusted basis) | $455.0M | $455.0M | $418.8M | $384.0M | $256.5M | $209.2M | $229.7M | $253.1M | $277.4M |
| % margin | 14.0% | 13.0% | 12.5% | 12.0% | 8.8% | 7.4% | 8.1% | 8.8% | 9.4% |
| D&A | $130.0M | $140.0M | $134.0M | $128.0M | $117.2M | $112.3M | $113.4M | $115.7M | $118.0M |
| Share-based compensation | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| EBIT | $325.0M | $315.0M | $284.8M | $256.0M | $139.2M | $96.9M | $116.3M | $137.4M | $159.3M |
| Interest expense | $60.7M | $64.3M | $67.8M | $71.4M | $71.4M | $71.4M | $71.4M | $71.4M | $51.4M |
| EBT | $264.3M | $250.7M | $216.9M | $184.6M | $67.8M | $25.5M | $44.9M | $66.0M | $108.0M |
| Taxes | $66.1M | $62.7M | $54.2M | $46.1M | $17.0M | $6.4M | $11.2M | $16.5M | $27.0M |
| Net income (model basis) | $198.2M | $188.1M | $162.7M | $138.4M | $50.9M | $19.1M | $33.7M | $49.5M | $81.0M |
| Capex | $162.5M | $175.0M | $167.5M | $160.0M | $139.2M | $133.4M | $134.7M | $137.4M | $140.2M |
| Working capital & other cash items | $9.6M | $37.5M | ($22.5M) | ($22.5M) | ($34.5M) | ($12.9M) | $9.9M | $14.3M | $14.6M |
| Free cash flow | $156.2M | $115.6M | $151.7M | $128.9M | $63.3M | $10.9M | $2.5M | $13.5M | $44.3M |
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 | Ironclad Steel Products — illustrative financial statements FY2022–FY2025 | Income statement / cash flow | FY2022–FY2025 | — | 2026-03-31 | 2026-03-31 | DEMO DATA |
| CreditIQ demo dataset | Ironclad Steel Products — 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 |