Overall Score

Bargaining Power Of Suppliers

Gross margin remains solid at 42.2%, suggesting some input-cost pass-through ability.

Leverage is elevated with debt-to-equity at 2.07x and net debt to EBITDA at 5.81x, which can constrain supplier negotiations.

Bargaining Power Of Customers

Revenue per share of 42.24 and operating cash flow per share of 9.50 indicate the business still monetizes its customer base effectively.

Receivables turnover of 6.69x and days sales outstanding of 54.6 suggest customers have meaningful but manageable payment leverage.

Threat Of New Entrants

Enterprise value to sales of 2.91x and gross margin of 42.2% imply a business with some scale and economics that can deter entrants.

Working capital turnover of 81.3x indicates operational efficiency that new entrants may struggle to match.

Threat Of Substitutes

Operating margin of 15.3% and EBITDA margin of 36.0% indicate the company has differentiated offerings that can reduce substitution pressure.

Return on invested capital of 3.9% suggests only modest economic moat strength.

Industry Rivalry

Price-to-sales of 0.82x and price-to-book of 0.80x suggest the market is not pricing in excessive competitive advantage, keeping rivalry meaningful.

Asset turnover of 0.24x and operating cash flow sales ratio of 22.5% show a business that must compete on execution rather than pure scale.