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Railroad equipment company · L3 · FY ends Dec · Revenue $1M · -789.17% margin · -$9M FCF
The business is unprofitable at the operating level (-789.17% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 14.4%, still solid. Margins contracted 96.6pp, which offsets some of the top-line progress.
Negative free cash flow of -$9M. The business is consuming cash, not generating it. Operating margin contracted 96.6pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$1M
▲ +14.4% YoY
Net Income (TTM)
-$11M
▲ +63.9% YoY
Op. Margin
-789.17%
▼ -96.6pp YoY
ROIC
-46.00%
▲ +11.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$9M
▲ +4.8% YoY
Op. Cash Flow (TTM)
-$9M
▲ +5.8% YoY
Net Debt
-$20M
Net Cash Position
Cash & Equiv.
$20M
3Y CAGR: +52.3%
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