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The Company We are a global leader in the Automatic Identification and Data Capture ( AIDC ) industry. The AIDC market consists of mobile computing, data capture, radio frequency identification devices ( RFID ), thermal barcode printing, and other workflow automation products and services.
$216.96
$9.07 (-4.01%)
Price from 23 days ago
12.97% operating margin is respectable but not wide. ROIC at 9.14%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 8.3%, steady but not accelerating. Free cash flow declined 13% despite revenue growth, conversion is weakening.
At 26x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Free cash flow declined 13% versus the prior year, cash generation momentum has weakened.
26.2x earnings, 12.8x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$5.58B
▲ +8.3% YoY
Net Income (TTM)
$418M
▼ -20.6% YoY
Op. Margin
12.90%
▼ -1.9pp YoY
ROIC
9.33%
▼ -2.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$836M
▼ -12.9% YoY
Op. Cash Flow (TTM)
$915M
▼ -9.5% YoY
Net Debt
$2.73B
Cash & Equiv.
$114M
5Y CAGR: +3.9%
5Y CAGR: -1.5%
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