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Oil & gas field services, nec company · A0 · FY ends Dec · Revenue C$281M · 1.01% margin · C$45M FCF
Operating margin is thin at 1.01%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 40.4% YoY. The question is whether this is cyclical or a structural shift.
ROIC dropped from 3.60% to 0.75%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
C$281M
▼ -40.4% YoY
Net Income (TTM)
-C$7M
▼ -539.0% YoY
Op. Margin
1.01%
▼ -1.4pp YoY
ROIC
0.75%
▼ -2.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
C$45M
▲ +580.5% YoY
Op. Cash Flow (TTM)
C$77M
▲ +84.9% YoY
Net Debt
C$79M
Cash & Equiv.
C$32M
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