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We are a diversified mineral company that delivers potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed and the oil and gas industry. We are the only U.S. producer of muriate of potash (sometimes referred to as potassium chloride or potash), which is applied as an essential nutrient for healthy crop development, utilized in several in…
Operating margin is thin at 3.57%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue up 17.1% YoY with margins expanding 11.4pp. However, free cash flow softened 24%, worth monitoring whether this is timing or structural.
Free cash flow declined 24% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (FY)
$298M
▲ +17.1% YoY
Net Income (TTM)
$14M
▲ +105.3% YoY
Op. Margin
3.57%
▲ +11.4pp YoY
ROIC
2.56%
▲ +4.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$40M
▼ -24.4% YoY
Op. Cash Flow (TTM)
$68M
▼ -23.1% YoY
Net Debt
-$96M
Net Cash Position
Cash & Equiv.
$99M
5Y CAGR: +11.7%
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