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Industrial & commercial fans & blowers & air purifing equip company · DE · FY ends Dec · Revenue $804M · 5.71% margin · -$6M FCF
13.67% operating margin is respectable but not wide. ROIC at 14.45%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue up 38.8% YoY with margins expanding 7.3pp. However, free cash flow softened 173%, worth monitoring whether this is timing or structural.
Free cash flow declined 173% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$5M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$804M
▲ +38.8% YoY
Net Income (TTM)
$13M
▲ +286.3% YoY
Op. Margin
5.71%
▲ +7.3pp YoY
ROIC
6.78%
▲ +7.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$6M
▼ -173.5% YoY
Op. Cash Flow (TTM)
$4M
▼ -76.4% YoY
Net Debt
$231M
Cash & Equiv.
$45M
5Y CAGR: +19.6%
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