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As used in this Annual Report, the terms we, us, our, Broadwind and the Company refer to Broadwind, Inc., a Delaware corporation headquartered in Cicero, Illinois, and its wholly-owned subsidiaries (the Subsidiaries ). Business Overview Broadwind is a precision manufacturer of structures, equipment and components for power generation, critical infrastructure, and other specialized applications.
Operating margin is thin at 5.47%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue up 10.4% YoY with margins expanding 2.1pp. However, free cash flow softened 287%, worth monitoring whether this is timing or structural.
Free cash flow declined 287% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$19M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$155M
▲ +10.4% YoY
Net Income (TTM)
$5M
▲ +355.0% YoY
Op. Margin
5.70%
▲ +2.1pp YoY
ROIC
9.08%
▲ +4.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$10M
▼ -286.6% YoY
Op. Cash Flow (TTM)
-$4M
▼ -211.4% YoY
Net Debt
$27M
Cash & Equiv.
$943K
5Y CAGR: -4.5%
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