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Metal shipping barrels, drums, kegs & pails company · E9 · FY ends May · Revenue $9M · -33.98% margin · -$3M FCF
The business is unprofitable at the operating level (-33.98% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 8.9% YoY. Margins deteriorated 20.8pp alongside, both lines moving the wrong way.
Free cash flow declined 470% versus the prior year, cash generation momentum has weakened. ROIC dropped from -26.64% to -50.37%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$9M
▼ -8.9% YoY
Net Income (TTM)
-$3M
▼ -178.4% YoY
Op. Margin
-33.98%
▼ -20.8pp YoY
ROIC
-50.37%
▼ -23.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▼ -469.9% YoY
Op. Cash Flow (TTM)
-$3M
▼ -436.7% YoY
Net Debt
-$905K
Net Cash Position
Cash & Equiv.
$3M
3Y CAGR: -10.3%
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