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The Company NL Industries, Inc. was organized as a New Jersey corporation in 1891. Our common stock trades on the New York Stock Exchange, or the NYSE, under the symbol NL.
Operating margin is thin at 6.74%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 8.5%, steady but not accelerating. Margins contracted 19.2pp, which offsets some of the top-line progress.
Free cash flow declined 266% versus the prior year, cash generation momentum has weakened. ROIC dropped from 6.21% to 2.23%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$159M
▲ +8.5% YoY
Net Income (TTM)
-$34M
▼ -156.3% YoY
Op. Margin
7.34%
▼ -19.2pp YoY
ROIC
2.46%
▼ -4.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$4M
▼ -266.3% YoY
Op. Cash Flow (TTM)
$8M
▼ -242.3% YoY
Net Debt
-$101M
Net Cash Position
Cash & Equiv.
$102M
5Y CAGR: +6.7%
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