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Deep sea foreign transportation of freight company · FY ends Dec · Revenue $749M · 1.63% margin
Operating margin is thin at 1.63%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 38.6% YoY. Margins deteriorated 40.0pp alongside, both lines moving the wrong way.
ROIC dropped from 10.86% to 0.19%, capital efficiency is deteriorating. Operating margin contracted 40.0pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$749M
▼ -38.6% YoY
Net Income (TTM)
-$11M
▼ -102.7% YoY
Op. Margin
1.63%
▼ -40.0pp YoY
ROIC
0.19%
▼ -10.7pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
$63M
▼ -89.6% YoY
Net Debt
$2.25B
Cash & Equiv.
$116M
5Y CAGR: -0.1%
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