/
Semiconductors & related devices company · E9 · FY ends Dec · Revenue $9.37B · -13.60% margin · -$301M FCF
The business is unprofitable at the operating level (-13.60% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 25.9% YoY. Margins deteriorated 10.0pp alongside, both lines moving the wrong way.
Free cash flow declined 128% versus the prior year, cash generation momentum has weakened. ROIC dropped from -2.49% to -5.02%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$9.37B
▼ -25.9% YoY
Net Income (TTM)
-$636M
▼ -8605.8% YoY
Op. Margin
-13.60%
▼ -10.0pp YoY
ROIC
-5.02%
▼ -2.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$301M
▼ -128.3% YoY
Op. Cash Flow (TTM)
$155M
▼ -93.3% YoY
Net Debt
$23.04B
Cash & Equiv.
$3.46B
5Y CAGR: +11.7%
Continue Research