Food and kindred products company · FY ends Aug · Revenue $1.42B · -9.05% margin · $146M FCF
10.81% operating margin is respectable but not wide. ROIC at 5.83%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 9.0%, steady but not accelerating. Margins contracted 4.7pp, which offsets some of the top-line progress.
Free cash flow declined 25% versus the prior year, cash generation momentum has weakened. ROIC dropped from 7.86% to 5.83%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$1.42B
▲ +9.0% YoY
Net Income (TTM)
-$106M
▼ -25.6% YoY
Op. Margin
-9.05%
▼ -4.7pp YoY
ROIC
-4.83%
▼ -2.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$146M
▼ -24.8% YoY
Op. Cash Flow (TTM)
$173M
▼ -17.3% YoY
Net Debt
$342M
Cash & Equiv.
$107M
5Y CAGR: +12.2%
5Y CAGR: +22.5%
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