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Deep sea foreign transportation of freight company · 1T · FY ends Dec · Revenue $158M · 27.41% margin · $17M FCF
27.41% operating margin is above average. ROIC at 6.27%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 5.6% YoY. Margins deteriorated 10.0pp alongside, both lines moving the wrong way.
ROIC dropped from 10.15% to 6.27%, capital efficiency is deteriorating. Net debt of $242M represents 14.2x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$158M
▼ -5.6% YoY
Net Income (TTM)
$21M
▼ -51.1% YoY
Op. Margin
27.41%
▼ -10.0pp YoY
ROIC
6.27%
▼ -3.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$17M
▲ +267.8% YoY
Op. Cash Flow (TTM)
$53M
▼ -30.1% YoY
Net Debt
$242M
Cash & Equiv.
$48M
5Y CAGR: +20.1%
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