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Ennis, Inc. (collectively with its subsidiaries, the Company , Registrant , Ennis , or we , us , or our ) was organized under the laws of Texas in 1909. Ennis is primarily a trade printer that manufactures a broad range of printed products that are resold throughout the United States through a network of independent distributors.
13.43% operating margin is respectable but not wide. ROIC at 11.67%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 0.6% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 32% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$392M
▼ -0.6% YoY
Net Income (TTM)
$43M
▲ +6.0% YoY
Op. Margin
13.43%
▲ +0.3pp YoY
ROIC
11.67%
▲ +0.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$41M
▼ -31.6% YoY
Op. Cash Flow (TTM)
$53M
▼ -19.9% YoY
Net Debt
-$25M
Net Cash Position
Cash & Equiv.
$35M
5Y CAGR: +1.9%
5Y CAGR: -3.5%
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