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Miscellaneous chemical products company · NV · FY ends Dec · Revenue $39M · 11.65% margin · -$4M FCF
11.95% operating margin is respectable but not wide. ROIC at 7.67%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue growth slowed to 0.7%, essentially flat. Margins also contracted 2.5pp. This is a business that needs a catalyst.
Free cash flow declined 198% versus the prior year, cash generation momentum has weakened. ROIC dropped from 10.10% to 7.67%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$39M
▲ +0.7% YoY
Net Income (TTM)
$810K
▼ -74.1% YoY
Op. Margin
11.65%
▼ -2.5pp YoY
ROIC
7.71%
▼ -2.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$4M
▼ -198.0% YoY
Op. Cash Flow (TTM)
$3M
▼ -32.1% YoY
Net Debt
$3M
Cash & Equiv.
$6M
5Y CAGR: +4.2%
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