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Computer storage devices company · CA · FY ends Apr · Revenue $6.71B · 22.21% margin
Margins and capital returns are both well above average: 20.34% operating margin, ROIC at 27.37%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue grew 4.9%, steady but not accelerating. Free cash flow declined 13% despite revenue growth, conversion is weakening.
Free cash flow declined 13% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$6.71B
▲ +4.9% YoY
Net Income (TTM)
$1.21B
▲ +20.3% YoY
Op. Margin
22.21%
▲ +1.0pp YoY
ROIC
30.70%
▲ +2.8pp YoY
Cash Flow & Balance Sheet
FCF (FY)
$1.34B
▼ -12.5% YoY
Op. Cash Flow (FY)
$1.51B
▼ -10.6% YoY
Net Debt
-$274M
Net Cash Position
Cash & Equiv.
$3.01B
5Y CAGR: +4.0%
5Y CAGR: +7.4%
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