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Grain mill products company · DE · FY ends May · Revenue $18.37B · 18.96% margin · $1.65B FCF
$33.81
$0.08 (-0.24%)
Price from 5 days ago
16.96% operating margin is respectable but not wide. ROIC at 11.57%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 856.3%, still solid. Margins contracted 151.4pp, which offsets some of the top-line progress.
Net debt of $14.93B represents 6.5x FCF, leverage limits flexibility. Operating margin contracted 151.4pp YoY, cost discipline may be slipping.
8.3x earnings, 11.0x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$18.37B
▲ +856.3% YoY
Net Income (TTM)
$2.21B
▼ -8.1% YoY
Op. Margin
18.96%
▼ -151.4pp YoY
ROIC
11.64%
▼ -1.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.65B
▼ -9.3% YoY
Op. Cash Flow (TTM)
$2.23B
▼ -11.6% YoY
Net Debt
$13.18B
Cash & Equiv.
$786M
5Y CAGR: +57.0%
5Y CAGR: -6.5%
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