/
Orthopedic, prosthetic & surgical appliances & supplies company · E9 · FY ends Sep · Revenue $21M · 2.94% margin · -$4M FCF
Operating margin is thin at 2.94%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 12.0% YoY. Margins deteriorated 12.5pp alongside, both lines moving the wrong way.
ROIC dropped from 8.39% to 0.88%, capital efficiency is deteriorating. Negative free cash flow of -$4M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$21M
▼ -12.0% YoY
Net Income (TTM)
$1M
▼ -67.6% YoY
Op. Margin
2.94%
▼ -12.5pp YoY
ROIC
0.88%
▼ -7.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$4M
▼ -175.6% YoY
Op. Cash Flow (TTM)
$3M
▲ +340.5% YoY
Net Debt
-$11M
Net Cash Position
Cash & Equiv.
$30M
3Y CAGR: +2.5%
Continue Research