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Semiconductors & related devices company · L3 · FY ends Dec · Revenue $1.57B · 12.40% margin · -$49M FCF
12.40% operating margin is respectable but not wide. ROIC at 5.76%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 9.1%, steady but not accelerating. Free cash flow declined 491% despite revenue growth, conversion is weakening.
Free cash flow declined 491% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$49M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$1.57B
▲ +9.1% YoY
Net Income (TTM)
$220M
▲ +6.1% YoY
Op. Margin
12.40%
▼ -0.9pp YoY
ROIC
5.76%
▼ -0.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$49M
▼ -490.6% YoY
Op. Cash Flow (TTM)
$395M
▼ -11.9% YoY
Net Debt
-$949M
Net Cash Position
Cash & Equiv.
$1.15B
5Y CAGR: +4.4%
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