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We are a leading producer and distributor of specialty alcohols, renewable fuels and essential ingredients in the United States. Three of our production facilities are located in Illinois, one is located in Oregon, and another is located in Idaho.
Operating margin is thin at 0.80%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 4.9% YoY. The question is whether this is cyclical or a structural shift.
Net debt of $74M represents 8.6x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$916M
▼ -4.9% YoY
Net Income (TTM)
$29M
▲ +122.6% YoY
Op. Margin
2.06%
▲ +6.2pp YoY
ROIC
4.35%
▲ +13.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$31M
▲ +159.3% YoY
Op. Cash Flow (TTM)
$36M
▲ +476.2% YoY
Net Debt
$71M
Cash & Equiv.
$20M
5Y CAGR: +0.5%
5Y CAGR: -33.2%
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