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Water supply company · CO · FY ends Aug · Revenue $31M · 38.91% margin · $3M FCF
29.40% operating margin is above average. ROIC at 4.23%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 9.3% YoY. Margins deteriorated 13.2pp alongside, both lines moving the wrong way.
ROIC dropped from 6.44% to 4.23%, capital efficiency is deteriorating. Operating margin contracted 13.2pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$31M
▼ -9.3% YoY
Net Income (TTM)
$14M
▲ +12.9% YoY
Op. Margin
38.91%
▼ -13.2pp YoY
ROIC
4.76%
▼ -2.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$3M
▲ +563.6% YoY
Op. Cash Flow (TTM)
$4M
▲ +469.4% YoY
Net Debt
$5M
Cash & Equiv.
$5M
5Y CAGR: +0.2%
5Y CAGR: -9.4%
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