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Miscellaneous electrical machinery, equipment & supplies company · A3 · FY ends Dec · Revenue $1.00B · 8.87% margin · $68M FCF
Operating margin is thin at 9.59%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 3.3%, steady but not accelerating. Margins contracted 2.1pp, which offsets some of the top-line progress.
Free cash flow declined 66% versus the prior year, cash generation momentum has weakened. ROIC dropped from 8.33% to 5.52%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$1.00B
▲ +3.3% YoY
Net Income (TTM)
$54M
▼ -16.0% YoY
Op. Margin
8.87%
▼ -2.1pp YoY
ROIC
5.02%
▼ -2.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$68M
▼ -65.7% YoY
Op. Cash Flow (TTM)
$84M
▼ -59.6% YoY
Net Debt
-$97M
Net Cash Position
Cash & Equiv.
$389M
5Y CAGR: +10.7%
5Y CAGR: -17.9%
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