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Plastics products, nec company · OH · FY ends Dec · Revenue $825M · 9.96% margin · $89M FCF
Operating margin is thin at 9.06%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 1.6% YoY. Margins deteriorated 2.5pp alongside, both lines moving the wrong way.
ROIC dropped from 16.75% to 9.43%, capital efficiency is deteriorating. Net debt of $334M represents 5.0x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$825M
▼ -1.6% YoY
Net Income (TTM)
$26M
▲ +385.0% YoY
Op. Margin
9.96%
▼ -2.5pp YoY
ROIC
10.43%
▼ -7.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$89M
▲ +22.5% YoY
Op. Cash Flow (TTM)
$103M
▲ +9.4% YoY
Net Debt
$316M
Cash & Equiv.
$45M
5Y CAGR: +10.0%
5Y CAGR: +15.2%
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