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Motor vehicles & passenger car bodies company · E9 · FY ends Dec · Revenue $519M · -81.53% margin · -$413M FCF
The business is unprofitable at the operating level (-81.53% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 43.8% YoY. The question is whether this is cyclical or a structural shift.
Negative free cash flow of -$413M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$519M
▼ -43.8% YoY
Net Income (TTM)
-$464M
▲ +58.0% YoY
Op. Margin
-81.53%
▲ +3.5pp YoY
ROIC
-229.92%
▲ +193.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$413M
▲ +54.4% YoY
Op. Cash Flow (TTM)
-$334M
▲ +60.6% YoY
Net Debt
$1.39B
Cash & Equiv.
$73M
3Y CAGR: +278.7%
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