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Truck trailers company · DE · FY ends Dec · Revenue $1.47B · -4.05% margin · -$41M FCF
19.93% operating margin is respectable but not wide. ROIC at 32.13%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 20.8% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 129% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$13M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$1.47B
▼ -20.8% YoY
Net Income (TTM)
-$65M
▲ +174.4% YoY
Op. Margin
-4.05%
▲ +38.2pp YoY
ROIC
-5.47%
▲ +67.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$41M
▼ -128.9% YoY
Op. Cash Flow (TTM)
-$22M
▼ -90.1% YoY
Net Debt
$488M
Cash & Equiv.
$43M
5Y CAGR: +0.8%
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