Real estate investment trusts company · MD · FY ends Dec · Revenue $176M · 7.20% margin · -$5M FCF
Operating margin is thin at 7.20%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 3.0% YoY. Margins deteriorated 4.2pp alongside, both lines moving the wrong way.
Free cash flow declined 141% versus the prior year, cash generation momentum has weakened. ROIC dropped from 5.41% to 3.33%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$176M
▼ -3.0% YoY
Net Income (TTM)
-$8M
▼ -690.2% YoY
Op. Margin
7.20%
▼ -4.2pp YoY
ROIC
3.33%
▼ -2.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$5M
▼ -140.9% YoY
Op. Cash Flow (TTM)
$10M
▼ -60.2% YoY
Net Debt
$337M
Cash & Equiv.
$7M
5Y CAGR: +19.8%
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