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DESCRIPTION OF BUSINESS General Development of Business Retractable Technologies, Inc. was incorporated in Texas in 1994. Our business is the manufacturing and marketing of safety medical products (predominately syringes) for the healthcare industry.
The business is unprofitable at the operating level (-55.34% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 15.8% YoY with margins expanding 8.5pp.
ROIC dropped from -17.62% to -20.40%, capital efficiency is deteriorating. Negative free cash flow of -$8M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$37M
▲ +15.8% YoY
Net Income (TTM)
-$6M
▼ -5.7% YoY
Op. Margin
-61.02%
▲ +8.5pp YoY
ROIC
-23.77%
▼ -2.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$7M
▲ +41.5% YoY
Op. Cash Flow (TTM)
-$7M
▲ +38.9% YoY
Net Debt
-$2M
Net Cash Position
Cash & Equiv.
$3M
5Y CAGR: -14.1%
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