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Services-business services, nec company · P7 · FY ends Dec · Revenue $534M · -3.26% margin · -$33M FCF
The business is unprofitable at the operating level (-3.26% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 10.6%, still solid. Margins contracted 2.1pp, which offsets some of the top-line progress.
ROIC dropped from -60.88% to -424.01%, capital efficiency is deteriorating. Negative free cash flow of -$33M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$534M
▲ +10.6% YoY
Net Income (TTM)
-$14M
▼ -239.0% YoY
Op. Margin
-3.26%
▼ -2.1pp YoY
ROIC
-424.01%
▼ -363.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$33M
▼ -187.2% YoY
Op. Cash Flow (TTM)
-$31M
▼ -227.1% YoY
Net Debt
$881K
Cash & Equiv.
$17M
5Y CAGR: +16.6%
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