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Food and kindred products company · E9 · FY ends Dec · Revenue $39M · -90.03% margin · -$40M FCF
The business is unprofitable at the operating level (-90.03% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 4.6%, steady but not accelerating. Margins contracted 39.7pp, which offsets some of the top-line progress.
Negative free cash flow of -$40M. The business is consuming cash, not generating it. Operating margin contracted 39.7pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$39M
▲ +4.6% YoY
Net Income (TTM)
-$357M
▼ -109.6% YoY
Op. Margin
-90.03%
▼ -39.7pp YoY
ROIC
-49.25%
▲ +17.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$40M
▼ -155.8% YoY
Op. Cash Flow (TTM)
-$40M
▼ -156.6% YoY
Net Debt
-$3M
Net Cash Position
Cash & Equiv.
$22M
3Y CAGR: -39.8%
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