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Women's, misses': and juniors outerwear company · DE · FY ends Feb · Revenue $597M · 8.48% margin · $25M FCF
Operating margin is thin at 8.48%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 2.3% YoY. Margins deteriorated 3.9pp alongside, both lines moving the wrong way.
Free cash flow declined 50% versus the prior year, cash generation momentum has weakened. ROIC dropped from 21.19% to 13.34%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$597M
▼ -2.3% YoY
Net Income (TTM)
$28M
▼ -29.4% YoY
Op. Margin
8.48%
▼ -3.9pp YoY
ROIC
13.34%
▼ -7.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$25M
▼ -50.4% YoY
Op. Cash Flow (TTM)
$42M
▼ -35.2% YoY
Net Debt
$184M
Cash & Equiv.
$41M
5Y CAGR: +6.9%
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