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Construction - special trade contractors company · E9 · FY ends Mar · Revenue $34M · -15.82% margin
The business is unprofitable at the operating level (-15.82% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 22.8%, still solid. Margins contracted 27.6pp, which offsets some of the top-line progress.
ROIC dropped from 23.96% to -33.39%, capital efficiency is deteriorating. Operating margin contracted 27.6pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$34M
▲ +22.8% YoY
Net Income (TTM)
-$6M
▼ -346.3% YoY
Op. Margin
-15.82%
▼ -27.6pp YoY
ROIC
-33.39%
▼ -57.4pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
-$8M
▼ -424.3% YoY
Net Debt
$12M
Cash & Equiv.
$250K
3Y CAGR: +33.0%
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