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Ralliant Corporation ( Ralliant, the Company, or it ) is a global technology company with businesses that design, develop, manufacture, and service precision instruments and highly engineered products. Ralliant empowers engineers with precision technologies essential for breakthrough innovation in an electrified and digital world, enabling its customers to bring advanced technologies to market …
The business is unprofitable at the operating level (-57.18% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 4.0% YoY. Margins deteriorated 78.5pp alongside, both lines moving the wrong way.
Free cash flow declined 15% versus the prior year, cash generation momentum has weakened. ROIC dropped from 12.52% to -27.93%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$2.12B
▼ -4.0% YoY
Net Income (TTM)
-$1.24B
▼ -444.8% YoY
Op. Margin
-56.03%
▼ -78.5pp YoY
ROIC
-26.65%
▼ -40.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$302M
▼ -14.7% YoY
Op. Cash Flow (TTM)
$345M
▼ -12.5% YoY
Net Debt
$958M
Cash & Equiv.
$268M
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