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Management s Discussion and Analysis of Financial Condition and Results of Operations. These factors include: (i) the effectiveness of management s strategies and decisions, including strategic investments, capital spending strategies, cost reduction initiatives, sourcing strategies, processes and countermeasures implemented to address operational and supply chain challenges and the execution o…
Operating margin is thin at 5.60%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 11.5%, still solid.
Negative free cash flow of -$26M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$3.70B
▲ +11.5% YoY
Net Income (TTM)
$153M
▲ +71.2% YoY
Op. Margin
6.62%
▲ +1.9pp YoY
ROIC
10.22%
▲ +3.1pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-$26M
▼ -86.1% YoY
Op. Cash Flow (TTM)
$142M
▼ -33.3% YoY
Net Debt
$1.04B
Cash & Equiv.
$30M
5Y CAGR: +23.5%
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