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Television broadcasting stations company · DE · FY ends Dec · Revenue $2.71B · 16.33% margin · $283M FCF
16.33% operating margin is respectable but not wide. ROIC at 6.27%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 12.6% YoY. Margins deteriorated 9.0pp alongside, both lines moving the wrong way.
Free cash flow declined 55% versus the prior year, cash generation momentum has weakened. ROIC dropped from 10.17% to 6.27%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$2.71B
▼ -12.6% YoY
Net Income (TTM)
$220M
▼ -63.3% YoY
Op. Margin
16.33%
▼ -9.0pp YoY
ROIC
6.27%
▼ -3.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$283M
▼ -55.3% YoY
Op. Cash Flow (TTM)
$326M
▼ -52.4% YoY
Net Debt
$2.31B
Cash & Equiv.
$291M
5Y CAGR: -1.6%
5Y CAGR: -17.9%
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