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Standex International Corporation and subsidiaries ("we," "us," "our," the "Company" and "Standex" is a diversified industrial manufacturer with leading positions in a variety of products and services that are used in diverse commercial and industrial markets. Headquartered in Salem, New Hampshire, we have six operating segments aggregated into five reportable segments: Electronics, Engineering…
11.84% operating margin is respectable but not wide. ROIC at 7.76%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 9.6%, steady but not accelerating. Margins contracted 2.3pp, which offsets some of the top-line progress.
Free cash flow declined 43% versus the prior year, cash generation momentum has weakened. ROIC dropped from 9.88% to 7.76%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$885M
▲ +9.6% YoY
Net Income (TTM)
$99M
▼ -23.7% YoY
Op. Margin
19.59%
▼ -2.3pp YoY
ROIC
10.59%
▼ -2.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$54M
▼ -43.0% YoY
Op. Cash Flow (TTM)
$83M
▼ -24.9% YoY
Net Debt
$418M
Cash & Equiv.
$104M
5Y CAGR: +5.5%
5Y CAGR: +9.9%
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