Pharmaceutical preparations company · DE · FY ends Dec · Revenue $361M · 4.11% margin · $13M FCF
11.12% operating margin is respectable but not wide. ROIC at 14.68%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 22.2%, still solid. Margins contracted 14.3pp, which offsets some of the top-line progress.
Free cash flow declined 58% versus the prior year, cash generation momentum has weakened. ROIC dropped from 32.53% to 14.68%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$361M
▲ +22.2% YoY
Net Income (TTM)
-$24M
▼ -78.7% YoY
Op. Margin
4.11%
▼ -14.3pp YoY
ROIC
5.40%
▼ -17.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$13M
▼ -58.3% YoY
Op. Cash Flow (TTM)
$19M
▼ -57.1% YoY
Net Debt
$197M
Cash & Equiv.
$134M
5Y CAGR: +39.9%
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