/
Air-cond & warm air heatg equip & comm & indl refrig equip company · L2 · FY ends Sep · Revenue $24.43B · 12.69% margin · $2.67B FCF
10.83% operating margin is respectable but not wide. ROIC at 8.87%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue growth slowed to 2.8%, essentially flat. This is a business that needs a catalyst.
Net debt of $11.41B represents 5.4x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$24.43B
▲ +2.8% YoY
Net Income (TTM)
$3.53B
▲ +93.0% YoY
Op. Margin
12.69%
▲ +1.5pp YoY
ROIC
10.80%
▲ +1.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$2.67B
▲ +97.4% YoY
Op. Cash Flow (TTM)
$3.04B
▲ +62.9% YoY
Net Debt
$8.82B
Cash & Equiv.
$698M
5Y CAGR: +1.1%
5Y CAGR: +0.8%
Continue Research