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Our business consists principally of marketing, manufacturing and selling floorcovering products to high-end residential customers through our various sales forces and brands. We focus exclusively on the upper-end of the floorcovering market where we believe we have strong brands and competitive advantages with our style and design capabilities and customer relationships.
Operating margin is thin at 0.05%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 2.9% YoY. The question is whether this is cyclical or a structural shift.
Net debt of $104M represents 11.5x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$254M
▼ -2.9% YoY
Net Income (TTM)
-$5M
▲ +41.4% YoY
Op. Margin
1.33%
▲ +2.3pp YoY
ROIC
2.73%
▲ +3.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$1M
▲ +489.5% YoY
Op. Cash Flow (TTM)
-$500K
▲ +165.6% YoY
Net Debt
$106M
Cash & Equiv.
$2M
5Y CAGR: +0.5%
5Y CAGR: -5.8%
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