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Services-computer programming, data processing, etc. company · DE · FY ends Dec · Revenue $2.70B · -2.97% margin · $77M FCF
The business is unprofitable at the operating level (-3.75% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 1.9% YoY. The question is whether this is cyclical or a structural shift.
Net debt of $3.12B represents 34.5x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$2.70B
▼ -1.9% YoY
Net Income (TTM)
-$146M
▲ +73.7% YoY
Op. Margin
-2.97%
▲ +29.5pp YoY
ROIC
-1.96%
▲ +19.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$77M
▲ +227.2% YoY
Op. Cash Flow (TTM)
$144M
▲ +279.4% YoY
Net Debt
$3.08B
Cash & Equiv.
$94M
5Y CAGR: -0.2%
5Y CAGR: +239.8%
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