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The Company WESCO International, Inc. ( Wesco International ) and its subsidiaries (collectively, Wesco or the Company ), headquartered in Pittsburgh, Pennsylvania, is a leading provider of business-to-business distribution, logistics services and supply chain solutions. We employ approximately 21,000 people, maintain relationships with more than 35,000 suppliers, and serve nearly 130,000 custo…
Operating margin is thin at 5.24%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 7.8%, steady but not accelerating. Free cash flow declined 97% despite revenue growth, conversion is weakening.
Free cash flow declined 97% versus the prior year, cash generation momentum has weakened. Net debt of $6.20B represents 245.8x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$24.25B
▲ +7.8% YoY
Net Income (TTM)
$676M
▼ -10.8% YoY
Op. Margin
5.30%
▼ -0.4pp YoY
ROIC
9.23%
Cash Flow & Balance Sheet
FCF (TTM)
$216M
▼ -97.5% YoY
Op. Cash Flow (TTM)
$318M
▼ -88.6% YoY
Net Debt
$5.89B
Cash & Equiv.
$697M
5Y CAGR: +13.8%
5Y CAGR: -44.7%
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