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Retail-nonstore retailers company · E9 · FY ends Dec · Revenue $165M · -3.04% margin · -$2M FCF
The business is unprofitable at the operating level (-3.04% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 24.1% YoY with margins expanding 3.0pp. However, free cash flow softened 329%, worth monitoring whether this is timing or structural.
Free cash flow declined 329% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$2M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$165M
▲ +24.1% YoY
Net Income (TTM)
-$6M
▲ +21.2% YoY
Op. Margin
-3.04%
▲ +3.0pp YoY
ROIC
-22.04%
▲ +4.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$2M
▼ -329.4% YoY
Op. Cash Flow (TTM)
-$2M
▼ -293.7% YoY
Net Debt
$2M
Cash & Equiv.
$3M
5Y CAGR: +11.2%
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