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Wholesale-industrial machinery & equipment company · NY · FY ends Aug · Revenue $3.83B · 8.04% margin · $215M FCF
Operating margin is thin at 8.00%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 1.3% YoY. Margins deteriorated 2.2pp alongside, both lines moving the wrong way.
Free cash flow declined 23% versus the prior year, cash generation momentum has weakened. ROIC dropped from 15.33% to 12.13%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$3.83B
▼ -1.3% YoY
Net Income (TTM)
$208M
▼ -22.9% YoY
Op. Margin
8.04%
▼ -2.2pp YoY
ROIC
12.32%
▼ -3.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$215M
▼ -22.6% YoY
Op. Cash Flow (TTM)
$301M
▼ -18.7% YoY
Net Debt
$513M
Cash & Equiv.
$46M
5Y CAGR: +3.4%
5Y CAGR: -7.2%
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