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Services-prepackaged software company · DE · FY ends Mar · Revenue $7.53B · 15.43% margin · $2.32B FCF
15.43% operating margin is respectable but not wide. ROIC at 10.09%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue growth slowed to 0.9%, essentially flat. Margins also contracted 4.9pp. This is a business that needs a catalyst.
Operating margin contracted 4.9pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$7.53B
▲ +0.9% YoY
Net Income (TTM)
$887M
▼ -20.9% YoY
Op. Margin
15.43%
▼ -4.9pp YoY
ROIC
10.09%
▼ -1.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$2.32B
▲ +25.0% YoY
Op. Cash Flow (TTM)
$2.55B
▲ +22.8% YoY
Net Debt
-$1.01B
Net Cash Position
Cash & Equiv.
$2.86B
5Y CAGR: +6.0%
5Y CAGR: +5.1%
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