/
Laboratory apparatus & furniture company · DE · FY ends Apr · Revenue $288M · 6.95% margin · $19M FCF
Operating margin is thin at 7.39%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 18.0%, still solid. Free cash flow declined 17% despite revenue growth, conversion is weakening.
Free cash flow declined 17% versus the prior year, cash generation momentum has weakened. ROIC dropped from 24.88% to 16.07%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$288M
▲ +18.0% YoY
Net Income (TTM)
$11M
▼ -39.2% YoY
Op. Margin
6.95%
▼ -1.6pp YoY
ROIC
13.88%
▼ -8.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$19M
▼ -16.9% YoY
Op. Cash Flow (TTM)
$23M
▼ -24.4% YoY
Net Debt
$23M
Cash & Equiv.
$8M
5Y CAGR: +10.3%
5Y CAGR: +49.4%
Continue Research