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Park-Ohio Holdings Corp. ( Holdings or ParkOhio ), incorporated in Ohio since 1998, is a diversified international company providing world-class customers with a supply chain management outsourcing service, capital equipment used on their production lines, and manufactured components used to assemble their products. References herein to we or the Company include, where applicable, Holdings and …
Operating margin is thin at 4.15%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 3.4% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 44% versus the prior year, cash generation momentum has weakened. ROIC dropped from 21.85% to 15.05%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$1.61B
▼ -3.4% YoY
Net Income (TTM)
$24M
▼ -25.2% YoY
Op. Margin
4.16%
▼ -1.1pp YoY
ROIC
14.62%
▼ -6.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1M
▼ -44.4% YoY
Op. Cash Flow (TTM)
$45M
▲ +20.9% YoY
Net Debt
$14M
Cash & Equiv.
$47M
5Y CAGR: +6.8%
5Y CAGR: -47.3%
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