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and Strategy We provide digital infrastructure and communications services in the United States ( US ), primarily in the western US, and Alaska, and internationally, including Bermuda and the Caribbean region. Since our founding in 1987, we have concentrated on smaller, often rural or remote markets with strong and growing demand for connectivity.
Operating margin is thin at 3.91%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 0.2% YoY. The question is whether this is cyclical or a structural shift.
Net debt of $551M represents 12.6x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$731M
▼ -0.2% YoY
Net Income (TTM)
-$9M
▲ +43.6% YoY
Op. Margin
5.12%
▲ +4.0pp YoY
ROIC
2.66%
▲ +2.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$38M
▲ +150.3% YoY
Op. Cash Flow (TTM)
$128M
▲ +4.7% YoY
Net Debt
$546M
Cash & Equiv.
$109M
5Y CAGR: +9.8%
5Y CAGR: +32.0%
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