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Apparel & other finishd prods of fabrics & similar matl company · K3 · FY ends Dec · Revenue $18M · 1.32% margin · $2M FCF
Operating margin is thin at 1.32%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 41.9% YoY. Margins deteriorated 3.6pp alongside, both lines moving the wrong way.
ROIC dropped from 8.88% to 1.09%, capital efficiency is deteriorating. Operating margin contracted 3.6pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$18M
▼ -41.9% YoY
Net Income (TTM)
$43K
▼ -95.9% YoY
Op. Margin
1.32%
▼ -3.6pp YoY
ROIC
1.09%
▼ -7.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$2M
▲ +566.5% YoY
Op. Cash Flow (TTM)
$3M
▲ +4881.3% YoY
Net Debt
$6M
Cash & Equiv.
$300K
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