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Services-business services, nec company · E9 · FY ends Dec · Revenue $4M · -155.50% margin · -$3M FCF
The business is unprofitable at the operating level (-155.50% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 72.3% YoY. Margins deteriorated 102.4pp alongside, both lines moving the wrong way.
ROIC dropped from -7.10% to -12.12%, capital efficiency is deteriorating. Negative free cash flow of -$3M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$4M
▼ -72.3% YoY
Net Income (TTM)
-$6M
▲ +48.8% YoY
Op. Margin
-155.50%
▼ -102.4pp YoY
ROIC
-12.12%
▼ -5.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▼ -1967.1% YoY
Op. Cash Flow (TTM)
-$2M
▼ -474.7% YoY
Net Debt
$9M
Cash & Equiv.
$5M
5Y CAGR: -51.2%
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