/
Ship & boat building & repairing company · DE · FY ends Jun · Revenue $298M · 3.73% margin · $26M FCF
Operating margin is thin at 3.95%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 11.8% YoY. Margins deteriorated 4.6pp alongside, both lines moving the wrong way.
ROIC dropped from 8.67% to 4.04%, capital efficiency is deteriorating. Operating margin contracted 4.6pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$298M
▼ -11.8% YoY
Net Income (TTM)
$11M
▼ -9.7% YoY
Op. Margin
3.73%
▼ -4.6pp YoY
ROIC
4.29%
▼ -4.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$26M
▲ +1238.5% YoY
Op. Cash Flow (TTM)
$34M
▲ +184.8% YoY
Net Debt
-$85M
Net Cash Position
Cash & Equiv.
$85M
5Y CAGR: -4.8%
5Y CAGR: +10.6%
Continue Research