Public bldg & related furniture company · DE · FY ends Jan · Revenue $200M · 1.83% margin · -$7M FCF
Operating margin is thin at 1.83%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 25.0% YoY. Margins deteriorated 8.6pp alongside, both lines moving the wrong way.
Free cash flow declined 125% versus the prior year, cash generation momentum has weakened. ROIC dropped from 16.58% to 1.86%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$200M
▼ -25.0% YoY
Net Income (TTM)
$3M
▼ -88.1% YoY
Op. Margin
1.83%
▼ -8.6pp YoY
ROIC
1.86%
▼ -14.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$7M
▼ -125.0% YoY
Op. Cash Flow (TTM)
-$841K
▼ -102.5% YoY
Net Debt
$26M
Cash & Equiv.
$14M
5Y CAGR: +5.5%
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