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Our Current Operating Portfolio for further descriptions of our projects, which information is incorporated into this item by reference. From time to time we and our subsidiaries may be parties to legal proceedings arising in the normal course of our business.
Operating margin is thin at 0.48%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 0.4%, essentially flat. Margins also contracted 8.7pp. This is a business that needs a catalyst.
ROIC dropped from 4.28% to 0.19%, capital efficiency is deteriorating. Negative free cash flow of -$86M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$180M
▲ +0.4% YoY
Net Income (TTM)
$2M
▼ -82.0% YoY
Op. Margin
-0.64%
▼ -8.7pp YoY
ROIC
-0.25%
▼ -4.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$99M
▼ -365.3% YoY
Op. Cash Flow (TTM)
$37M
▼ -30.7% YoY
Net Debt
$132M
Cash & Equiv.
$26M
5Y CAGR: +11.9%
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