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Wholesale-beer, wine & distilled alcoholic beverages company · D8 · FY ends Dec · Revenue $5M · -29.23% margin · -$2M FCF
The business is unprofitable at the operating level (-29.23% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 59.1% YoY. Margins deteriorated 32.5pp alongside, both lines moving the wrong way.
ROIC dropped from 3.47% to -11.85%, capital efficiency is deteriorating. Negative free cash flow of -$2M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$5M
▼ -59.1% YoY
Net Income (TTM)
-$1M
▼ -644.9% YoY
Op. Margin
-29.23%
▼ -32.5pp YoY
ROIC
-11.85%
▼ -15.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$2M
▼ -61.5% YoY
Op. Cash Flow (TTM)
-$2M
▼ -70.8% YoY
Net Debt
-$2M
Net Cash Position
Cash & Equiv.
$2M
3Y CAGR: -22.9%
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