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The terms Proto Labs, "Protolabs," the Company, we, us, and our as used herein refer to the business and operations of Proto Labs, Inc. and its subsidiaries. We are the world s fastest manufacturing service enabling companies across every industry to streamline production of quality parts throughout the entire product life cycle.
Operating margin is thin at 4.71%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 6.4%, steady but not accelerating. Free cash flow declined 13% despite revenue growth, conversion is weakening.
Free cash flow declined 13% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$546M
▲ +6.4% YoY
Net Income (TTM)
$26M
▲ +28.0% YoY
Op. Margin
5.57%
▲ +0.7pp YoY
ROIC
2.93%
▲ +0.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$57M
▼ -13.1% YoY
Op. Cash Flow (TTM)
$74M
▼ -4.3% YoY
Net Debt
-$134M
Net Cash Position
Cash & Equiv.
$136M
5Y CAGR: +4.2%
5Y CAGR: -0.1%
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