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Bridger anticipates that subsequent events and developments will cause Bridger s assessments to change. Business Overview Bridger provides aerial wildfire surveillance, relief and suppression, and aerial firefighting services using next-generation technology and environmentally friendly and sustainable firefighting methods primarily throughout the United States, as well as airframe modification…
12.54% operating margin is respectable but not wide. ROIC at 5.32%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue up 24.6% YoY with margins expanding 7.1pp. However, free cash flow softened 1318%, worth monitoring whether this is timing or structural.
Free cash flow declined 1318% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$64M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$116M
▲ +24.6% YoY
Net Income (TTM)
-$12M
▲ +126.6% YoY
Op. Margin
0.25%
▲ +7.1pp YoY
ROIC
0.10%
▲ +3.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$70M
▼ -1318.2% YoY
Op. Cash Flow (TTM)
$13M
▲ +78.9% YoY
Net Debt
$243M
Cash & Equiv.
$9M
3Y CAGR: +38.3%
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