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Services-prepackaged software company · DE · FY ends Nov · Revenue $988M · 70.20% margin · $258M FCF
Margins and capital returns are both well above average: 69.75% operating margin, ROIC at 37.14%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue up 29.8% YoY with margins expanding 53.3pp.
Net debt of $1.34B represents 5.8x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$988M
▲ +29.8% YoY
Net Income (TTM)
$85M
▲ +6.9% YoY
Op. Margin
70.20%
▲ +53.3pp YoY
ROIC
31.59%
▲ +31.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$258M
▲ +11.2% YoY
Op. Cash Flow (TTM)
$265M
▲ +11.2% YoY
Net Debt
$1.26B
Cash & Equiv.
$113M
5Y CAGR: +17.2%
5Y CAGR: +10.7%
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