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Apparel & other finishd prods of fabrics & similar matl company · DE · FY ends Mar · Revenue $23M · -44.31% margin · -$10M FCF
The business is unprofitable at the operating level (-64.16% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 12.0% YoY. Margins deteriorated 32.8pp alongside, both lines moving the wrong way.
Negative free cash flow of -$10M. The business is consuming cash, not generating it. Operating margin contracted 32.8pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$23M
▼ -12.0% YoY
Net Income (TTM)
-$13M
▼ -82.7% YoY
Op. Margin
-44.31%
▼ -32.8pp YoY
ROIC
-194.78%
▲ +158.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$10M
▼ -117.9% YoY
Op. Cash Flow (TTM)
-$10M
▼ -121.4% YoY
Net Debt
$2M
Cash & Equiv.
$2M
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