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Water transportation company · FY ends Dec · Revenue -$114M · 220.64% margin · $20M FCF
220.64% operating margin is above average. ROIC at -24.20%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 132.7% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 84% versus the prior year, cash generation momentum has weakened. ROIC dropped from 7.55% to -24.20%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
-$114M
▼ -132.7% YoY
Net Income (TTM)
$12M
▼ -73.7% YoY
Op. Margin
220.64%
▲ +198.5pp YoY
ROIC
-24.20%
▼ -31.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$20M
▼ -84.3% YoY
Op. Cash Flow (TTM)
$20M
▼ -84.5% YoY
Net Debt
$378M
Cash & Equiv.
$46M
5Y CAGR: -29.1%
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