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Services-computer programming, data processing, etc. company · DE · FY ends Dec · Revenue $717M · 10.29% margin · $96M FCF
Operating margin is thin at 8.42%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue up 38.5% YoY with margins expanding 2.1pp.
ROIC dropped from 26.94% to 24.28%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$717M
▲ +38.5% YoY
Net Income (TTM)
$110M
▲ +208.7% YoY
Op. Margin
10.29%
▲ +2.1pp YoY
ROIC
27.91%
▼ -2.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$96M
▲ +44.6% YoY
Op. Cash Flow (TTM)
$102M
▲ +43.3% YoY
Net Debt
-$176M
Net Cash Position
Cash & Equiv.
$178M
5Y CAGR: +14.8%
5Y CAGR: +67.5%
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