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Wholesale-lumber & other construction materials company · DE · FY ends Dec · Revenue $230M · -43.31% margin · $36M FCF
$6.40
+$0.03 (+0.47%)
Price from 7 days ago
The business is unprofitable at the operating level (-139.51% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 40.1% YoY. Margins deteriorated 160.2pp alongside, both lines moving the wrong way.
ROIC dropped from 13.31% to -53.77%, capital efficiency is deteriorating. Negative free cash flow of -$5M. The business is consuming cash, not generating it.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$230M
▼ -40.1% YoY
Net Income (TTM)
-$112M
▼ -3012.5% YoY
Op. Margin
-43.31%
▼ -160.2pp YoY
ROIC
-20.26%
▼ -67.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$36M
▲ +88.8% YoY
Op. Cash Flow (TTM)
$61M
▼ -27.8% YoY
Net Debt
-$60M
Net Cash Position
Cash & Equiv.
$174M
5Y CAGR: +22.0%
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