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We began operations in 1984 as an Oklahoma corporation under the name of Matrix Service. In 1989, we incorporated in the State of Delaware under the name of Matrix Service Company, and in 1990 we began trading on the NASDAQ exchange.
The business is unprofitable at the operating level (-4.56% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 5.6%, steady but not accelerating.
ROIC dropped from -11.78% to -15.78%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$845M
▲ +5.6% YoY
Net Income (TTM)
-$15M
▼ -18.0% YoY
Op. Margin
-2.56%
▼ -0.4pp YoY
ROIC
-10.75%
▼ -4.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$50M
▲ +67.4% YoY
Op. Cash Flow (TTM)
$56M
▲ +61.9% YoY
Net Debt
-$214M
Net Cash Position
Cash & Equiv.
$233M
5Y CAGR: -6.9%
5Y CAGR: +33.9%
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