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Perfumes, cosmetics & other toilet preparations company · E9 · FY ends Dec · Revenue $615M · -4.32% margin · -$20M FCF
The business is unprofitable at the operating level (-4.32% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 32.2% YoY with margins expanding 20.0pp.
Negative free cash flow of -$20M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$615M
▲ +32.2% YoY
Net Income (TTM)
-$12M
▲ +88.1% YoY
Op. Margin
-4.32%
▲ +20.0pp YoY
ROIC
-3.57%
▲ +10.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$20M
▲ +51.9% YoY
Op. Cash Flow (TTM)
-$14M
▲ +59.4% YoY
Net Debt
$32M
Cash & Equiv.
$145M
5Y CAGR: -5.2%
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