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Services-computer integrated systems design company · DE · FY ends Dec · Revenue $6.30B · 6.42% margin · $417M FCF
Operating margin is thin at 6.57%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 5.7% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 13% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$6.30B
▼ -5.7% YoY
Net Income (TTM)
$228M
▲ +2.6% YoY
Op. Margin
6.42%
▲ +0.2pp YoY
ROIC
8.14%
▼ -1.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$417M
▼ -13.5% YoY
Op. Cash Flow (TTM)
$486M
▼ -8.6% YoY
Net Debt
$1.40B
Cash & Equiv.
$284M
5Y CAGR: +10.2%
5Y CAGR: +10.0%
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