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Retail-drug stores and proprietary stores company · E9 · FY ends Mar · Revenue $120M · -0.86% margin · $1M FCF
The business is unprofitable at the operating level (-0.86% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 3.2% YoY. The question is whether this is cyclical or a structural shift.
ROIC dropped from 1.89% to -3.00%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$120M
▼ -3.2% YoY
Net Income (TTM)
$10M
▲ +340.8% YoY
Op. Margin
-0.86%
▼ -1.3pp YoY
ROIC
-3.00%
▼ -4.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1M
▲ +131.3% YoY
Op. Cash Flow (TTM)
$1M
▲ +139.5% YoY
Net Debt
-$2M
Net Cash Position
Cash & Equiv.
$13M
5Y CAGR: +0.4%
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