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Chemed Corporation (the Company or Chemed ) was incorporated in Delaware in 1970 as a subsidiary of W.R. Grace & Co. s Special Products Group as of April 30, 1971 and remained a subsidiary of W.R.
13.37% operating margin is respectable but not wide. ROIC at 20.79%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 4.1%, steady but not accelerating. Free cash flow declined 12% despite revenue growth, conversion is weakening.
Free cash flow declined 12% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$2.54B
▲ +4.1% YoY
Net Income (TTM)
$260M
▼ -12.2% YoY
Op. Margin
12.91%
▼ -1.7pp YoY
ROIC
20.03%
▼ -0.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$377M
▼ -11.5% YoY
Op. Cash Flow (TTM)
$444M
▼ -7.0% YoY
Net Debt
$220M
Cash & Equiv.
$17M
5Y CAGR: +4.0%
5Y CAGR: -5.4%
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