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Coating, engraving & allied services company · DE · FY ends Aug · Revenue $89M · 3.49% margin · -$3M FCF
Operating margin is thin at 3.05%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 1.0% YoY. Margins deteriorated 6.2pp alongside, both lines moving the wrong way.
Free cash flow declined 77% versus the prior year, cash generation momentum has weakened. ROIC dropped from 9.45% to 2.81%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$89M
▼ -1.0% YoY
Net Income (TTM)
-$775K
▼ -99.7% YoY
Op. Margin
3.49%
▼ -6.2pp YoY
ROIC
3.35%
▼ -6.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▼ -76.9% YoY
Op. Cash Flow (TTM)
-$2M
▼ -58.5% YoY
Net Debt
-$6M
Net Cash Position
Cash & Equiv.
$6M
5Y CAGR: +12.1%
5Y CAGR: -26.2%
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