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Uniti Group Inc. (herein referred to as the Company, Uniti, we, us, or our ) was incorporated in the State of Delaware on April 19, 2024, under the name Windstream Parent, Inc and as a subsidiary of New Windstream, LLC ( Windstream ) (as successor to Windstream Holdings II, LLC) in connection with the Merger (as defined below). Uniti is a premier digital infrastructure company with approximatel…
11.73% operating margin is respectable but not wide. ROIC at 2.53%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 91.5%, still solid. Margins contracted 38.6pp, which offsets some of the top-line progress.
Free cash flow declined 3808% versus the prior year, cash generation momentum has weakened. ROIC dropped from 15.77% to 2.53%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$2.93B
▲ +91.5% YoY
Net Income (TTM)
$1.22B
▲ +1296.9% YoY
Op. Margin
8.04%
▼ -38.6pp YoY
ROIC
1.62%
▼ -13.2pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-$438M
▼ -3808.5% YoY
Op. Cash Flow (FY)
$350M
▼ -4.5% YoY
Net Debt
$10.13B
Cash & Equiv.
$983M
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