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Natural gas transmisison & distribution company · DE · FY ends Dec · Revenue $984M · 27.28% margin · -$210M FCF
27.52% operating margin is above average. ROIC at 6.65%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 18.1%, still solid.
Negative free cash flow of -$215M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$984M
▲ +18.1% YoY
Net Income (TTM)
$149M
▲ +18.3% YoY
Op. Margin
27.28%
▼ -1.5pp YoY
ROIC
6.72%
Cash Flow & Balance Sheet
FCF (TTM)
-$210M
▼ -85.4% YoY
Op. Cash Flow (TTM)
$267M
▼ -2.4% YoY
Net Debt
$1.66B
Cash & Equiv.
$5M
5Y CAGR: +13.8%
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