Beverages company · DE · FY ends Apr · Revenue $3.91B · 28.39% margin · $730M FCF
27.85% operating margin is above average. ROIC at 13.22%.
Revenue declined 4.9% YoY. Margins deteriorated 6.0pp alongside, both lines moving the wrong way.
ROIC dropped from 17.57% to 13.22%, capital efficiency is deteriorating. Net debt of $2.39B represents 5.6x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$3.91B
▼ -4.9% YoY
Net Income (TTM)
$807M
▼ -15.1% YoY
Op. Margin
28.39%
▼ -6.0pp YoY
ROIC
13.57%
▼ -4.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$730M
▲ +2.9% YoY
Op. Cash Flow (TTM)
$861M
▼ -7.6% YoY
Net Debt
$2.36B
Cash & Equiv.
$383M
5Y CAGR: +3.4%
5Y CAGR: -6.7%
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