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Cutlery, handtools & general hardware company · CT · FY ends Jan · Revenue $245M · 3.57% margin · $10M FCF
Operating margin is thin at 4.29%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 8.7% YoY. Margins deteriorated 3.1pp alongside, both lines moving the wrong way.
Free cash flow declined 49% versus the prior year, cash generation momentum has weakened. ROIC dropped from 8.68% to 5.09%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$245M
▼ -8.7% YoY
Net Income (TTM)
$6M
▲ +183.6% YoY
Op. Margin
3.57%
▼ -3.1pp YoY
ROIC
4.22%
▼ -3.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$10M
▼ -49.4% YoY
Op. Cash Flow (TTM)
$14M
▼ -54.3% YoY
Net Debt
$46M
Cash & Equiv.
$8M
5Y CAGR: +0.2%
5Y CAGR: -16.7%
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