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Electronic & other electrical equipment (no computer equip) company · MO · FY ends Sep · Revenue $18.32B · 20.31% margin · $3.12B FCF
20.23% operating margin is above average. ROIC at 9.21%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue growth slowed to 3.0%, essentially flat. This is a business that needs a catalyst.
Net debt of $12.21B represents 4.6x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$18.32B
▲ +3.0% YoY
Net Income (TTM)
$2.45B
▲ +16.5% YoY
Op. Margin
20.31%
▲ +3.3pp YoY
ROIC
8.91%
▲ +0.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$3.12B
▼ -8.4% YoY
Op. Cash Flow (TTM)
$3.56B
▼ -7.0% YoY
Net Debt
$12.27B
Cash & Equiv.
$1.79B
5Y CAGR: +1.4%
5Y CAGR: +0.9%
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