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Management s Discussion and Analysis of Financial Condition and Results of Operations of this Annual Report Any factor could, by itself, or together with one or more other factors, adversely affect our business, results of operations, plans, objectives, future performance, or financial condition. Other factors not described in this Annual Report also could cause results to differ from our expec…
$65.26
+$1.83 (+2.89%)
Last close via Marketstack
22.53% operating margin is above average. ROIC at 3.50%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 16.0% YoY. Margins deteriorated 9.4pp alongside, both lines moving the wrong way.
At 30x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from 5.90% to 3.50%, capital efficiency is deteriorating.
30.5x earnings, 9.4x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$1.51B
▼ -16.0% YoY
Net Income (TTM)
$122M
▼ -37.3% YoY
Op. Margin
22.94%
▼ -9.4pp YoY
ROIC
6.15%
▼ -2.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$412M
▲ +19.8% YoY
Op. Cash Flow (TTM)
$458M
▲ +16.6% YoY
Net Debt
-$1.83B
Net Cash Position
Cash & Equiv.
$1.84B
3Y CAGR: -0.4%
3Y CAGR: +14.0%
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