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Food and kindred products company · WY · FY ends Dec · Revenue $142K · 74.51% margin · -$134K FCF
Margins and capital returns are both well above average: 76.44% operating margin, ROIC at 47.48%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue declined 22.4% YoY. Margins deteriorated 8.4pp alongside, both lines moving the wrong way.
ROIC dropped from 110.90% to 47.48%, capital efficiency is deteriorating. Negative free cash flow of -$58K. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$142K
▼ -22.4% YoY
Net Income (TTM)
-$1M
▼ -671.4% YoY
Op. Margin
74.51%
▼ -8.4pp YoY
ROIC
37.93%
▼ -63.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$134K
▼ -105.6% YoY
Op. Cash Flow (TTM)
-$134K
▼ -105.6% YoY
Net Debt
-$16K
Net Cash Position
Cash & Equiv.
$16K
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