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CompX International Inc. (NYSE American: CIX), incorporated in Delaware in 1993, is a leading manufacturer of security products used in the postal, recreational transportation, office and institutional furniture, cabinetry, tool storage, healthcare applications and a variety of other industries. We are also a leading manufacturer of wake enhancement systems, stainless steel exhaust systems, gau…
14.28% operating margin is respectable but not wide. ROIC at 11.41%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 8.5%, steady but not accelerating. Free cash flow declined 11% despite revenue growth, conversion is weakening.
Free cash flow declined 11% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$159M
▲ +8.5% YoY
Net Income (TTM)
$20M
▲ +17.4% YoY
Op. Margin
15.00%
▲ +2.6pp YoY
ROIC
12.10%
▲ +3.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$19M
▼ -11.1% YoY
Op. Cash Flow (TTM)
$22M
▼ -0.3% YoY
Net Debt
-$48M
Net Cash Position
Cash & Equiv.
$49M
5Y CAGR: +6.7%
5Y CAGR: +6.8%
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