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Miscellaneous food preparations & kindred products company · DE · FY ends Jun · Revenue $338M · -10.44% margin · -$3M FCF
The business is unprofitable at the operating level (-0.43% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue growth slowed to 0.3%, essentially flat. This is a business that needs a catalyst.
Net debt of $32M represents 5.0x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$338M
▲ +0.3% YoY
Net Income (TTM)
-$19M
▼ -274.6% YoY
Op. Margin
-10.44%
▲ +0.2pp YoY
ROIC
-36.35%
▲ +0.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▲ +123.2% YoY
Op. Cash Flow (TTM)
$5M
▲ +213.8% YoY
Net Debt
$30M
Cash & Equiv.
$4M
5Y CAGR: -7.3%
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