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Services-computer programming, data processing, etc. company · Revenue $140M · 2.20% margin · $15M FCF
Operating margin is thin at 2.20%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 1.5%, essentially flat. Margins also contracted 2.8pp. This is a business that needs a catalyst.
ROIC dropped from 7.11% to 3.43%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$140M
▲ +1.5% YoY
Net Income (TTM)
$5M
▼ -68.4% YoY
Op. Margin
2.20%
▼ -2.8pp YoY
ROIC
3.43%
▼ -3.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$15M
▲ +51.5% YoY
Op. Cash Flow (TTM)
$15M
▲ +38.3% YoY
Net Debt
-$30M
Net Cash Position
Cash & Equiv.
$31M
5Y CAGR: +9.3%
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