Services-management services company · UT · FY ends Aug · Revenue $262M · 0.01% margin · $24M FCF
Operating margin is thin at 2.14%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 7.0% YoY. Margins deteriorated 9.4pp alongside, both lines moving the wrong way.
Free cash flow declined 63% versus the prior year, cash generation momentum has weakened. ROIC dropped from 25.97% to 5.53%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$262M
▼ -7.0% YoY
Net Income (TTM)
-$2M
▼ -86.9% YoY
Op. Margin
0.01%
▼ -9.4pp YoY
ROIC
0.04%
▼ -20.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$24M
▼ -63.4% YoY
Op. Cash Flow (TTM)
$33M
▼ -51.9% YoY
Net Debt
-$13M
Net Cash Position
Cash & Equiv.
$14M
5Y CAGR: +6.1%
5Y CAGR: -2.4%
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