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Development of Business Brady was incorporated under the laws of the state of Wisconsin in 1914. Brady is a global manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people.
15.63% operating margin is respectable but not wide. ROIC at 14.82%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 12.8%, still solid. Margins contracted 2.5pp, which offsets some of the top-line progress.
Free cash flow declined 12% versus the prior year, cash generation momentum has weakened. ROIC dropped from 17.00% to 14.82%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$1.62B
▲ +12.8% YoY
Net Income (TTM)
$210M
▼ -4.0% YoY
Op. Margin
16.19%
▼ -2.5pp YoY
ROIC
14.69%
▼ -2.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$181M
▼ -12.3% YoY
Op. Cash Flow (TTM)
$223M
▼ -29.0% YoY
Net Debt
-$87M
Net Cash Position
Cash & Equiv.
$175M
5Y CAGR: +7.0%
5Y CAGR: +6.2%
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