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Retail-catalog & mail-order houses company · DE · FY ends Aug · Revenue $1.32B · -2.59% margin · $28M FCF
The business is unprofitable at the operating level (-3.07% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 5.3% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 35% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$1.32B
▼ -5.3% YoY
Net Income (TTM)
-$25M
▲ +77.7% YoY
Op. Margin
-2.59%
▲ +6.9pp YoY
ROIC
-9.19%
▲ +19.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$28M
▼ -34.8% YoY
Op. Cash Flow (TTM)
$46M
▼ -9.3% YoY
Net Debt
-$147M
Net Cash Position
Cash & Equiv.
$228M
5Y CAGR: -5.8%
5Y CAGR: -6.0%
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