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Miscellaneous electrical machinery, equipment & supplies company · FY ends Jan · Revenue $411M · -51.10% margin · -$67M FCF
The business is unprofitable at the operating level (-51.10% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 1.4% YoY. The question is whether this is cyclical or a structural shift.
ROIC dropped from -86.94% to -106.30%, capital efficiency is deteriorating. Negative free cash flow of -$67M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$411M
▼ -1.4% YoY
Net Income (TTM)
-$220M
▲ +20.5% YoY
Op. Margin
-51.10%
▲ +9.6pp YoY
ROIC
-106.30%
▼ -19.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$67M
▲ +57.9% YoY
Op. Cash Flow (TTM)
-$63M
▲ +57.2% YoY
Net Debt
$135M
Cash & Equiv.
$142M
5Y CAGR: +22.9%
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