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Our Company American Woodmark Corporation ("American Woodmark," the "Company," "we," "our" or "us") was incorporated in 1980 by the four principal managers of the Boise Cascade Cabinet Division through a leveraged buyout of that division. We operated privately until 1986 when we became a public company through a registered public offering of common stock.
Operating margin is thin at 8.20%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 7.5% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 51% versus the prior year, cash generation momentum has weakened. Net debt of $468M represents 6.8x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$1.52B
▼ -7.5% YoY
Net Income (TTM)
$18M
▼ -14.4% YoY
Op. Margin
1.85%
▼ -0.5pp YoY
ROIC
1.54%
▼ -1.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$41M
▼ -50.8% YoY
Op. Cash Flow (TTM)
$76M
▼ -53.0% YoY
Net Debt
$455M
Cash & Equiv.
$28M
5Y CAGR: +0.7%
5Y CAGR: -14.0%
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