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Services-computer programming, data processing, etc. company · E9 · Revenue $149M · 1.89% margin · -$7M FCF
Operating margin is thin at 1.89%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 2.3%, essentially flat. This is a business that needs a catalyst.
ROIC dropped from 7.69% to 4.69%, capital efficiency is deteriorating. Negative free cash flow of -$7M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$149M
▲ +2.3% YoY
Net Income (TTM)
$1M
▼ -74.3% YoY
Op. Margin
1.89%
▼ -0.7pp YoY
ROIC
4.69%
▼ -3.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$7M
▼ -104.0% YoY
Op. Cash Flow (TTM)
$5M
▲ +83.2% YoY
Net Debt
$9M
Cash & Equiv.
$5M
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