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Oil & gas field machinery & equipment company · E9 · FY ends Sep · Revenue $48M · -3.45% margin · -$4M FCF
$4.97
$0.03 (-0.61%)
Price from 42 days ago
The business is unprofitable at the operating level (-3.45% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 30.0% YoY. Margins deteriorated 14.4pp alongside, both lines moving the wrong way.
At 62x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Free cash flow declined 126% versus the prior year, cash generation momentum has weakened.
62.1x earnings. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$48M
▼ -30.0% YoY
Net Income (TTM)
$1M
▼ -84.5% YoY
Op. Margin
-3.45%
▼ -14.4pp YoY
ROIC
-2.80%
▼ -22.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$4M
▼ -125.7% YoY
Op. Cash Flow (TTM)
-$4M
▼ -123.4% YoY
Net Debt
-$22M
Net Cash Position
Cash & Equiv.
$29M
3Y CAGR: +1.1%
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