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Iridium Communications Inc. ( we, us, or Iridium ) is a leading provider of global voice, data, and positioning, navigation and timing (PNT) satellite services. We are the only commercial provider of communications services offering true global coverage, connecting people, organizations and assets to and from anywhere, in real time.
27.07% operating margin is above average. ROIC at 8.92%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 4.9%, steady but not accelerating.
Net debt of $1.70B represents 5.7x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$876M
▲ +4.9% YoY
Net Income (TTM)
$106M
▲ +1.4% YoY
Op. Margin
25.84%
▲ +2.9pp YoY
ROIC
21.45%
▲ +1.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$305M
▼ -2.0% YoY
Op. Cash Flow (TTM)
$411M
▲ +6.4% YoY
Net Debt
-$112M
Net Cash Position
Cash & Equiv.
$112M
5Y CAGR: +8.4%
5Y CAGR: +7.3%
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