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; estimated ultimate recovery or EUR means the sum of the economic life of reserves remaining as of a given date and cumulative production as of that date. As used in this Annual Report, EUR includes only proved reserves and is based on Wright s reserve estimates; FERC means the Federal Energy Regulatory Commission; field means an area consisting of a single reservoir or multiple reservoirs all…
Operating margin is thin at 3.34%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 37.6%, still solid. Margins contracted 32.9pp, which offsets some of the top-line progress.
ROIC dropped from 5331.28% to 6.07%, capital efficiency is deteriorating. Operating margin contracted 32.9pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$426M
▲ +37.6% YoY
Net Income (TTM)
$47M
Op. Margin
38.77%
▼ -32.9pp YoY
ROIC
65.94%
▼ -5325.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$235M
▲ +45.6% YoY
Op. Cash Flow (TTM)
$246M
▲ +47.3% YoY
Net Debt
-$71M
Net Cash Position
Cash & Equiv.
$73M
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