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Wholesale-metals service centers & of fices company · DE · FY ends Dec · Revenue $39M · -79.90% margin
The business is unprofitable at the operating level (-102.84% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 6.6% YoY. Margins deteriorated 48.1pp alongside, both lines moving the wrong way.
ROIC dropped from -65.10% to -72.71%, capital efficiency is deteriorating. Operating margin contracted 48.1pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$39M
▼ -6.6% YoY
Net Income (TTM)
-$33M
▲ +11.2% YoY
Op. Margin
-79.90%
▼ -48.1pp YoY
ROIC
-48.09%
▼ -7.6pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
-$8M
▼ -841.2% YoY
Net Debt
$12M
Cash & Equiv.
$1M
5Y CAGR: +326.2%
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