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Investment advice company · DE · FY ends Dec · Revenue $125M · 4.59% margin · $9M FCF
Operating margin is thin at 7.44%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 1.3%, essentially flat. Margins also contracted 6.8pp. This is a business that needs a catalyst.
Free cash flow declined 25% versus the prior year, cash generation momentum has weakened. ROIC dropped from 12.14% to 7.14%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$125M
▲ +1.3% YoY
Net Income (TTM)
$1M
▼ -48.8% YoY
Op. Margin
4.59%
▼ -6.8pp YoY
ROIC
4.33%
▼ -5.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$9M
▼ -24.7% YoY
Op. Cash Flow (TTM)
$13M
▼ -13.8% YoY
Net Debt
$17M
Cash & Equiv.
$12M
5Y CAGR: +3.0%
5Y CAGR: -10.6%
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