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Founded in 1938 in Portland, Oregon, as a small, family-owned, regional hat distributor and incorporated in Oregon in 1961, Columbia Sportswear Company has grown to become a global leader in designing, developing, marketing, and distributing outdoor, active and lifestyle products, including apparel, footwear, accessories, and equipment. Unless the context indicates otherwise, the terms "we," "u…
Operating margin is thin at 6.09%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 0.9%, essentially flat. Margins also contracted 1.9pp. This is a business that needs a catalyst.
Free cash flow declined 50% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$3.40B
▲ +0.9% YoY
Net Income (TTM)
$169M
▼ -20.6% YoY
Op. Margin
5.96%
▼ -1.9pp YoY
ROIC
7.04%
▼ -1.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$174M
▼ -49.7% YoY
Op. Cash Flow (TTM)
$237M
▼ -42.4% YoY
Net Debt
-$63M
Net Cash Position
Cash & Equiv.
$535M
5Y CAGR: +6.3%
5Y CAGR: -2.6%
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