/
Retail-building materials, hardware, garden supply company · E9 · FY ends Dec · Revenue ¥8.99B · -2.37% margin · -¥44M FCF
The business is unprofitable at the operating level (-2.37% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue growth slowed to 2.6%, essentially flat. This is a business that needs a catalyst.
Free cash flow declined 130% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -¥44M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
¥8.99B
▲ +2.6% YoY
Net Income (TTM)
-¥140M
▲ +47.9% YoY
Op. Margin
-2.37%
▲ +1.5pp YoY
ROIC
-4.81%
▲ +2.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-¥44M
▼ -129.5% YoY
Op. Cash Flow (TTM)
¥9M
▼ -96.2% YoY
Net Debt
-¥1.43B
Net Cash Position
Cash & Equiv.
¥1.86B
3Y CAGR: +2.6%
Continue Research