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Wholesale-farm product raw materials company · FY ends Mar · Revenue $2.24B · 6.99% margin · -$384M FCF
Operating margin is thin at 6.93%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 22.1%, still solid.
Negative free cash flow of -$36M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$2.24B
▲ +22.1% YoY
Net Income (TTM)
-$5M
▲ +469.5% YoY
Op. Margin
6.99%
▼ -0.5pp YoY
ROIC
9.90%
▲ +2.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$384M
▲ +84.6% YoY
Op. Cash Flow (TTM)
-$360M
▲ +93.8% YoY
Net Debt
$1.19B
Cash & Equiv.
$130M
5Y CAGR: +6.6%
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