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Retail-eating places company · DE · FY ends Aug · Revenue $307M · -1.50% margin · -$28M FCF
The business is unprofitable at the operating level (-1.68% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 18.9% YoY with margins expanding 3.2pp.
Negative free cash flow of -$21M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$307M
▲ +18.9% YoY
Net Income (TTM)
-$2M
▲ +78.4% YoY
Op. Margin
-1.50%
▲ +3.2pp YoY
ROIC
-0.89%
▲ +2.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$28M
▲ +25.1% YoY
Op. Cash Flow (TTM)
$24M
▲ +58.3% YoY
Net Debt
$155M
Cash & Equiv.
$48M
5Y CAGR: +44.3%
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