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Business Overview Power Solutions International, Inc., incorporated under the laws of the state of Delaware in 2011, designs, engineers, manufactures, markets and sells a broad range of advanced, emission-certified engines and power systems that are powered by a wide variety of clean, alternative fuels, including natural gas, propane, and biofuels, as well as gasoline and diesel options…
15.19% operating margin is respectable but not wide. ROIC at 38.78%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 51.8%, still solid. Free cash flow declined 76% despite revenue growth, conversion is weakening.
Free cash flow declined 76% versus the prior year, cash generation momentum has weakened. ROIC dropped from 41.94% to 38.78%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$716M
▲ +51.8% YoY
Net Income (TTM)
$102M
▲ +64.5% YoY
Op. Margin
13.48%
▼ -2.0pp YoY
ROIC
30.57%
▼ -3.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$26M
▼ -75.5% YoY
Op. Cash Flow (TTM)
$34M
▼ -61.4% YoY
Net Debt
$27M
Cash & Equiv.
$45M
5Y CAGR: +11.6%
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