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Background Preformed Line Products Company together with its subsidiaries (the Company or PLP ) is an international designer and manufacturer of products and systems employed in the construction and maintenance of overhead, ground-mounted and underground networks for energy, telecommunication, cable, data communication and other similar industries. The Company s primary products support, protec…
Operating margin is thin at 8.24%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 12.7%, still solid. Free cash flow declined 37% despite revenue growth, conversion is weakening.
Free cash flow declined 37% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$697M
▲ +12.7% YoY
Net Income (TTM)
$34M
▼ -4.9% YoY
Op. Margin
7.99%
▼ -0.3pp YoY
ROIC
8.49%
▲ +1.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$35M
▼ -36.9% YoY
Op. Cash Flow (TTM)
$74M
▲ +8.9% YoY
Net Debt
-$22M
Net Cash Position
Cash & Equiv.
$69M
5Y CAGR: +7.5%
5Y CAGR: +14.3%
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