Operative builders company · DE · FY ends Oct · Revenue $2.92B · 1.77% margin · $271M FCF
Operating margin is thin at 2.44%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 0.9% YoY. Margins deteriorated 6.3pp alongside, both lines moving the wrong way.
ROIC dropped from 11.12% to 2.90%, capital efficiency is deteriorating. Operating margin contracted 6.3pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$2.92B
▼ -0.9% YoY
Net Income (TTM)
$21M
▼ -77.0% YoY
Op. Margin
1.77%
▼ -6.3pp YoY
ROIC
2.23%
▼ -8.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$271M
▲ +2774.6% YoY
Op. Cash Flow (TTM)
$296M
▲ +696.4% YoY
Net Debt
N/A
Cash & Equiv.
N/A
5Y CAGR: +4.9%
5Y CAGR: -10.5%
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