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Off the Hook YS Inc ( Off the Hook , or OTH ) is a holding company and the sole managing member of Off the Hook Yacht Sales NC, LLC ( OTHYS ), OTH Simon Marine YF, LLC (the Boat Center ), Azure Funding, LLC ( Azure ) and Autograph Yacht Group Inc. ( AYG ) which was established on January 3, 2025. Overview We are a premier yacht and boat dealership specializing in the buying, selling, and wholes…
Operating margin is thin at 0.39%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 21.1%, still solid. Margins contracted 2.3pp, which offsets some of the top-line progress.
ROIC dropped from 9.10% to 1.09%, capital efficiency is deteriorating. Negative free cash flow of -$1M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (FY)
$120M
▲ +21.1% YoY
Net Income (TTM)
-$6M
▼ -288.7% YoY
Op. Margin
0.39%
▼ -2.3pp YoY
ROIC
1.09%
▼ -8.0pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-$1M
▲ +82.1% YoY
Op. Cash Flow (FY)
-$697K
▲ +90.2% YoY
Net Debt
$3M
Cash & Equiv.
$5M
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