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Services-computer integrated systems design company · Revenue $848M · -6.46% margin · -$107M FCF
The business is unprofitable at the operating level (-6.46% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 9.9%, steady but not accelerating.
Negative free cash flow of -$107M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$848M
▲ +9.9% YoY
Net Income (TTM)
-$66M
▲ +49.1% YoY
Op. Margin
-6.46%
▲ +9.5pp YoY
ROIC
-112.63%
▲ +99.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$107M
▼ -40.4% YoY
Op. Cash Flow (TTM)
-$94M
▼ -57.4% YoY
Net Debt
$305M
Cash & Equiv.
$87M
3Y CAGR: +18.0%
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