Retail-department stores company · WI · FY ends Jan · Revenue $15.46B · 3.95% margin · $1.05B FCF
$13.29
+$0.23 (+1.76%)
Price from 10 days ago
Operating margin is thin at 4.02%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 4.3% YoY. Margins deteriorated 3.7pp alongside, both lines moving the wrong way.
ROIC dropped from 11.91% to 5.48%, capital efficiency is deteriorating. Net debt of $5.50B represents 5.5x FCF, leverage limits flexibility.
5.6x earnings, 1.4x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$15.46B
▼ -4.3% YoY
Net Income (TTM)
$273M
▲ +149.5% YoY
Op. Margin
3.95%
▼ -3.7pp YoY
ROIC
5.37%
▼ -6.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.05B
▲ +453.8% YoY
Op. Cash Flow (TTM)
$1.40B
▲ +113.0% YoY
Net Debt
$5.65B
Cash & Equiv.
$429M
5Y CAGR: -0.5%
5Y CAGR: +0.1%
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