Overall Score

Revenue Quality

Gross margin remains strong at 64.6%, supporting a healthy core revenue mix.

Revenue efficiency is still acceptable, with price-to-sales at 3.64x and revenue per share of 2.74.

Profitability

Operating margins are solid, with EBIT margin at 21.7% and operating margin at 21.2%.

Net margin remains thin at 4.9%, indicating limited bottom-line conversion despite strong gross profit.

Return metrics remain modest, with ROIC at 3.0% and ROE at 2.3%.

Cash Flow

Cash generation remains weak, with operating cash flow and free cash flow both negative on a TTM basis.

Free cash flow yield is negative at -2.34%, reflecting continued cash burn relative to market value.

Balance Sheet

Liquidity is adequate, with a current ratio of 1.31 and cash ratio of 0.23.

Leverage remains elevated, with net debt to EBITDA at 6.39x and debt to equity at 1.24x.

Capital Efficiency

Asset turnover is low at 0.19x, but fixed asset turnover is strong at 21.4x.

Working capital efficiency is decent, with working capital turnover at 8.0x and a cash conversion cycle of 99.8 days.