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References to Global Wells or our variable interest entity refer to Global Wells Investment Group LLC, a Texas limited liability company and our consolidated variable interest entity, in which the Company has an equity interest and which is controlled by one of our stockholders. References to Lollicup refer to Lollicup USA Inc., our wholly-owned subsidiary incorporated in California in 2001 and…
Operating margin is thin at 8.85%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 10.7%, still solid. Free cash flow declined 30% despite revenue growth, conversion is weakening.
Free cash flow declined 30% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$481M
▲ +10.7% YoY
Net Income (TTM)
$31M
▲ +5.0% YoY
Op. Margin
8.74%
ROIC
15.08%
▲ +0.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$32M
▼ -29.7% YoY
Op. Cash Flow (TTM)
$33M
▼ -29.5% YoY
Net Debt
$19M
Cash & Equiv.
$34M
5Y CAGR: +9.6%
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