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Motor vehicle parts & accessories company · Revenue $87M · -65.39% margin · $96M FCF
The business is unprofitable at the operating level (-65.39% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 31.5% YoY. Margins deteriorated 11.5pp alongside, both lines moving the wrong way.
Operating margin contracted 11.5pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$87M
▼ -31.5% YoY
Net Income (TTM)
-$94M
▼ -85.9% YoY
Op. Margin
-65.39%
▼ -11.5pp YoY
ROIC
-12.96%
▲ +0.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$96M
▲ +613.9% YoY
Op. Cash Flow (TTM)
$97M
▲ +643.2% YoY
Net Debt
$2M
Cash & Equiv.
$36M
3Y CAGR: -9.5%
3Y CAGR: +51.4%
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