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Transportation services company · E9 · FY ends Dec · Revenue $83M · 1.93% margin · -$17M FCF
Operating margin is thin at 1.93%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 14.2%, still solid. Margins contracted 10.0pp, which offsets some of the top-line progress.
Free cash flow declined 244% versus the prior year, cash generation momentum has weakened. ROIC dropped from 5.75% to 0.95%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$83M
▲ +14.2% YoY
Net Income (TTM)
$4M
▼ -57.9% YoY
Op. Margin
1.93%
▼ -10.0pp YoY
ROIC
0.95%
▼ -4.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$17M
▼ -243.6% YoY
Op. Cash Flow (TTM)
-$16M
▼ -218.3% YoY
Net Debt
-$151M
Net Cash Position
Cash & Equiv.
$152M
5Y CAGR: +6.5%
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