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Crude petroleum & natural gas company · DE · FY ends Dec · Revenue $275M · 6.42% margin · $177M FCF
Operating margin is thin at 6.25%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 13.2%, still solid. Margins contracted 10.7pp, which offsets some of the top-line progress.
ROIC dropped from 6.33% to 2.38%, capital efficiency is deteriorating. Operating margin contracted 10.7pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$275M
▲ +13.2% YoY
Net Income (TTM)
-$20M
▲ +20.0% YoY
Op. Margin
6.42%
▼ -10.7pp YoY
ROIC
2.71%
▼ -4.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$177M
▲ +9.9% YoY
Op. Cash Flow (TTM)
$177M
▲ +9.9% YoY
Net Debt
-$3M
Net Cash Position
Cash & Equiv.
$3M
5Y CAGR: +23.0%
5Y CAGR: +17.5%
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