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Sugar & confectionery products company · DE · FY ends Jun · 7.65% margin · $49M FCF
Operating margin is thin at 7.65%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 3.8%, steady but not accelerating. Free cash flow declined 127% despite revenue growth, conversion is weakening.
Free cash flow declined 127% versus the prior year, cash generation momentum has weakened. ROIC dropped from 19.74% to 17.26%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (FY)
$1.11B
▲ +3.8% YoY
Net Income (TTM)
$67M
▼ -2.2% YoY
Op. Margin
7.65%
▼ -0.3pp YoY
ROIC
17.26%
▼ -2.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$49M
▼ -127.5% YoY
Op. Cash Flow (TTM)
$131M
▼ -70.0% YoY
Net Debt
$70M
Cash & Equiv.
$1M
5Y CAGR: +4.7%
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