/
Throughout this section, references to we, us, and our refer to Alight and its consolidated subsidiaries as the context so requires. Alight is a technology-enabled services company delivering human capital management solutions to many of the world s largest and most complex organizations.
The business is unprofitable at the operating level (-136.60% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 3.0% YoY. Margins deteriorated 132.7pp alongside, both lines moving the wrong way.
ROIC dropped from -1.03% to -50.71%, capital efficiency is deteriorating. Net debt of $1.85B represents 7.4x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$2.25B
▼ -3.0% YoY
Net Income (TTM)
-$3.09B
▼ -1872.6% YoY
Op. Margin
-138.08%
▼ -132.7pp YoY
ROIC
-62.48%
▼ -49.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$259M
▲ +90.8% YoY
Op. Cash Flow (TTM)
$366M
▲ +42.9% YoY
Net Debt
$1.94B
Cash & Equiv.
$178M
5Y CAGR: -2.4%
3Y CAGR: +17.3%
Continue Research