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Deep sea foreign transportation of freight company · E9 · FY ends Oct · Revenue $214M · -9.29% margin · $5M FCF
The business is unprofitable at the operating level (-9.29% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 98.2%, still solid. Margins contracted 11.4pp, which offsets some of the top-line progress.
Operating margin contracted 11.4pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$214M
▲ +98.2% YoY
Net Income (TTM)
-$21M
▲ +9.0% YoY
Op. Margin
-9.29%
▼ -11.4pp YoY
ROIC
-197.10%
▼ -11268.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$5M
▲ +239.0% YoY
Op. Cash Flow (TTM)
$5M
▲ +239.2% YoY
Net Debt
-$10M
Net Cash Position
Cash & Equiv.
$10M
5Y CAGR: +22.3%
5Y CAGR: +33.2%
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