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Deep sea foreign transportation of freight company · 1T · FY ends Dec · Revenue $39M · 15.17% margin
15.17% operating margin is respectable but not wide. ROIC at 2.60%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 24.4% YoY. Margins deteriorated 17.3pp alongside, both lines moving the wrong way.
ROIC dropped from 7.88% to 2.60%, capital efficiency is deteriorating. Operating margin contracted 17.3pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$39M
▼ -24.4% YoY
Net Income (TTM)
$2M
▼ -84.5% YoY
Op. Margin
15.17%
▼ -17.3pp YoY
ROIC
2.60%
▼ -5.3pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
$14M
▼ -27.8% YoY
Net Debt
$34M
Cash & Equiv.
$54M
5Y CAGR: +12.4%
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