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Household audio & video equipment company · DE · FY ends Oct · Revenue $1.46B · 2.16% margin · $118M FCF
The business is unprofitable at the operating level (-3.50% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 4.9% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 20% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$1.46B
▼ -4.9% YoY
Net Income (TTM)
$24M
▼ -60.3% YoY
Op. Margin
2.16%
▼ -0.3pp YoY
ROIC
4.26%
▼ -1.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$118M
▼ -19.7% YoY
Op. Cash Flow (TTM)
$138M
▼ -27.9% YoY
Net Debt
-$190M
Net Cash Position
Cash & Equiv.
$249M
5Y CAGR: +1.7%
5Y CAGR: -3.4%
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