/
Services-engineering, accounting, research, management company · DE · FY ends May · Revenue $6.33B · 36.90% margin · $2.09B FCF
Margins and capital returns are both well above average: 39.62% operating margin, ROIC at 24.37%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue grew 5.6%, steady but not accelerating.
ROIC dropped from 36.32% to 24.37%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$6.33B
▲ +5.6% YoY
Net Income (TTM)
$1.64B
▼ -2.0% YoY
Op. Margin
36.90%
▼ -1.6pp YoY
ROIC
20.25%
▼ -11.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$2.09B
▼ -1.6% YoY
Op. Cash Flow (TTM)
$2.32B
▲ +0.2% YoY
Net Debt
$3.23B
Cash & Equiv.
$1.78B
5Y CAGR: +6.6%
5Y CAGR: +5.4%
Continue Research