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Instruments for meas & testing of electricity & elec signals company · DE · FY ends Apr · Revenue $68M · 9.77% margin · -$4M FCF
16.81% operating margin is respectable but not wide. ROIC at 16.79%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue up 26.3% YoY with margins expanding 7.7pp. However, free cash flow softened 145%, worth monitoring whether this is timing or structural.
Free cash flow declined 145% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$3M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$68M
▲ +26.3% YoY
Net Income (TTM)
$7M
▲ +323.4% YoY
Op. Margin
9.77%
▲ +7.7pp YoY
ROIC
7.93%
▲ +7.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$4M
▼ -144.8% YoY
Op. Cash Flow (TTM)
-$934K
▼ -116.4% YoY
Net Debt
$8M
Cash & Equiv.
$86K
5Y CAGR: +11.0%
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