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Company Overview History BBX Capital, Inc. (referred to together with its subsidiaries as the Company, we, us, or our, and without its subsidiaries as BBX Capital ) is a Florida-based diversified holding company whose principal holdings are The Altman Companies, LLC ( Altman ), which was formerly known as BBX Capital Real Estate, LLC ( BBX Capital Real Estate or BBXRE ), BBX Sweet Holdings, LLC…
The business is unprofitable at the operating level (-20.20% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 23.7% YoY. Margins deteriorated 9.0pp alongside, both lines moving the wrong way.
ROIC dropped from -7.86% to -11.98%, capital efficiency is deteriorating. Negative free cash flow of -$41M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$309M
▼ -23.7% YoY
Net Income (TTM)
-$64M
▼ -207.2% YoY
Op. Margin
-20.20%
▼ -9.0pp YoY
ROIC
-11.98%
▼ -4.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$41M
▼ -56.4% YoY
Op. Cash Flow (TTM)
-$34M
▼ -202.5% YoY
Net Debt
$41M
Cash & Equiv.
$88M
5Y CAGR: +8.1%
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