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Services-business services, nec company · D0 · FY ends Dec · Revenue $1.66B · 4.33% margin · $224M FCF
Operating margin is thin at 4.33%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 0.1%, essentially flat. Margins also contracted 17.8pp. This is a business that needs a catalyst.
ROIC dropped from 8.64% to 1.72%, capital efficiency is deteriorating. Net debt of $2.42B represents 10.8x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$1.66B
Net Income (TTM)
-$183M
▼ -923.6% YoY
Op. Margin
4.33%
▼ -17.8pp YoY
ROIC
1.72%
▼ -6.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$224M
▼ -6.0% YoY
Op. Cash Flow (TTM)
$236M
▼ -7.0% YoY
Net Debt
$2.42B
Cash & Equiv.
$250M
5Y CAGR: +3.9%
5Y CAGR: -11.1%
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