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Miscellaneous food preparations & kindred products company · MD · FY ends Nov · Revenue $7.11B · 15.10% margin · $680M FCF
15.65% operating margin is respectable but not wide. ROIC at 8.74%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue growth slowed to 1.7%, essentially flat. This is a business that needs a catalyst.
Net debt of $4.22B represents 5.7x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$7.11B
▲ +1.7% YoY
Net Income (TTM)
$1.64B
▲ +0.1% YoY
Op. Margin
15.10%
▼ -0.1pp YoY
ROIC
8.26%
▼ -0.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$680M
▲ +14.4% YoY
Op. Cash Flow (TTM)
$898M
▲ +4.4% YoY
Net Debt
$4.75B
Cash & Equiv.
$178M
5Y CAGR: +4.1%
5Y CAGR: -1.9%
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