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Motor vehicles & passenger car bodies company · E9 · FY ends Dec · Revenue $616M · -2.05% margin · $25M FCF
The business is unprofitable at the operating level (-2.05% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 36.7% YoY with margins expanding 5.6pp.
Net debt of $106M represents 4.2x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$616M
▲ +36.7% YoY
Net Income (TTM)
-$6M
▲ +78.7% YoY
Op. Margin
-2.05%
▲ +5.6pp YoY
ROIC
-2.83%
▲ +7.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$25M
▲ +371.5% YoY
Op. Cash Flow (TTM)
$51M
▲ +605.2% YoY
Net Debt
$106M
Cash & Equiv.
$141M
5Y CAGR: +10.5%
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