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Services-prepackaged software company · FY ends Dec · Revenue $476M · 13.98% margin · $160M FCF
$13.18
+$0.01 (+0.08%)
Price from 12 days ago
13.98% operating margin is respectable but not wide. ROIC at 12.68%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 18.6%, still solid.
At 43x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from 25.24% to 12.68%, capital efficiency is deteriorating.
42.5x earnings, 20.5x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$476M
▲ +18.6% YoY
Net Income (TTM)
$78M
▲ +127.7% YoY
Op. Margin
13.98%
▼ -0.2pp YoY
ROIC
12.68%
▼ -12.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$160M
▲ +29.7% YoY
Op. Cash Flow (TTM)
$174M
▲ +31.3% YoY
Net Debt
-$253M
Net Cash Position
Cash & Equiv.
$276M
5Y CAGR: +19.5%
5Y CAGR: +21.6%
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