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Retail-hobby, toy & game shops company · E9 · FY ends Jun · Revenue $380M · 14.56% margin · $25M FCF
14.56% operating margin is respectable but not wide. ROIC at 28.82%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 27.1% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 34% versus the prior year, cash generation momentum has weakened. ROIC dropped from 36.36% to 28.82%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$380M
▼ -27.1% YoY
Net Income (TTM)
$50M
▼ -5.6% YoY
Op. Margin
14.56%
▲ +4.6pp YoY
ROIC
28.82%
▼ -7.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$25M
▼ -34.3% YoY
Op. Cash Flow (TTM)
$26M
▼ -34.0% YoY
Net Debt
-$117M
Net Cash Position
Cash & Equiv.
$142M
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