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Services-computer programming services company · D8 · FY ends Dec · Revenue $32M · 18.56% margin · $7M FCF
18.56% operating margin is respectable but not wide. ROIC at 17.45%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 53.4% YoY. Margins deteriorated 4.4pp alongside, both lines moving the wrong way.
ROIC dropped from 46.42% to 17.45%, capital efficiency is deteriorating. Operating margin contracted 4.4pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$32M
▼ -53.4% YoY
Net Income (TTM)
$3M
▲ +141.9% YoY
Op. Margin
18.56%
▼ -4.4pp YoY
ROIC
17.45%
▼ -29.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$7M
▲ +520.1% YoY
Op. Cash Flow (TTM)
$7M
▲ +520.4% YoY
Net Debt
-$1M
Net Cash Position
Cash & Equiv.
$1M
5Y CAGR: +149.7%
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