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Such factors include, among others, the following: general economic and business conditions, including, without limitation, a potential economic downturn, supply chain challenges and constraints, including the availability and cost of materials, the effects of inflation, and increased interest rates; compliance with and changes in laws and regulatory requirements; the failure of any enterprise-…
Operating margin is thin at 7.46%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 5.2%, steady but not accelerating. Margins contracted 7.9pp, which offsets some of the top-line progress.
ROIC dropped from 9.08% to 4.10%, capital efficiency is deteriorating. Net debt of $848M represents 5.6x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$1.37B
▲ +5.2% YoY
Net Income (TTM)
$47M
▼ -64.5% YoY
Op. Margin
7.46%
▼ -7.9pp YoY
ROIC
4.10%
▼ -5.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$151M
▼ -2.0% YoY
Op. Cash Flow (TTM)
$171M
▲ +2.2% YoY
Net Debt
$848M
Cash & Equiv.
$41M
5Y CAGR: +9.8%
5Y CAGR: +24.0%
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