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Laboratory analytical instruments company · DE · FY ends Dec · Revenue $86M · -111.04% margin · -$94M FCF
The business is unprofitable at the operating level (-129.20% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 6.2% YoY. The question is whether this is cyclical or a structural shift.
Negative free cash flow of -$83M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$86M
▼ -6.2% YoY
Net Income (TTM)
$78M
▲ +46.1% YoY
Op. Margin
-111.04%
▲ +10.9pp YoY
ROIC
-15.71%
▲ +15.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$94M
▲ +45.6% YoY
Op. Cash Flow (TTM)
-$91M
▲ +48.2% YoY
Net Debt
-$426M
Net Cash Position
Cash & Equiv.
$455M
5Y CAGR: -9.2%
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