Decide at what price you'd be comfortable buying and we'll help you stay ready.
Staffing scale creates revenue sensitive to labor demand, while thin operating margins make profitability depend on activity levels and overhead control. Capital spending is modest relative to revenue, but payroll timing versus customer collections can make operating and free cash flow volatile.
Revenue and earnings improved, but quarterly operating and free cash flow remained negative even as trailing free cash flow returned just above zero. The results show a recovery in reported earnings without yet establishing dependable quarterly cash conversion.
Whether operating cash flow becomes consistently positive as payroll and receivables timing normalizes.
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 19.7B | 21B | 22B | 20.9B | 18B | 20.7B | 19.8B | 18.9B | 17.9B | 18B | |
| (16.3B) | (17.6B) | (18.4B) | (17.5B) | (15.2B) | (17.3B) | (16.3B) | (15.6B) | (14.8B) | (15B) | |
| 3.3B | 3.5B | 3.6B | 3.4B | 2.8B | 3.4B | 3.6B | 3.4B | 3.1B | 3B | |
| (2.6B) | (2.7B) | (2.7B) | (2.7B) | (2.5B) | (2.8B) | (2.9B) | (2.9B) | (2.7B) | (2.7B) | |
| (2.6B) | (2.7B) | (2.7B) | (2.7B) | (2.5B) | (2.8B) | (2.9B) | (2.9B) | (2.7B) | (2.7B) | |
| 746m | 824m | 836m | 720m | 371m | 620m | 656m | 460.1m | 354.7m | 295.3m | |
| (49m) | (45m) | (42m) | (45m) | (35m) | (32m) | (41m) | (67.3m) | (62.9m) | (74.1m) | |
| 49.5m | 49.4m | 47m | 44.4m | 43.3m | 38.8m | 46.9m | 79.7m | 90m | 95.4m | |
| — | (35m) | (39m) | 5m | (194m) | (35m) | (74m) | (205.6m) | (51.5m) | (145.2m) | |
| 5m | (7m) | 0 | 5m | 5m | 15m | 16m | 18.7m | 16.5m | 17.4m | |
| 701m | 737m | 755m | 686m | 148m | 568m | 557m | 205.9m | 256.8m | 93.4m | |
| (258m) | (296m) | (201m) | (220m) | (124m) | (186m) | (183m) | (117.1m) | (111.7m) | (106.7m) | |
| 444m | 441m | 554m | 466m | 24m | 382m | 374m | 88.8m | 145.1m | (13.3m) | |
| 444m | 545m | 557m | 466m | 24m | 382m | 374m | 88.8m | 145.1m | (13.3m) | |
| 6.27 | 8.01 | 8.56 | 7.76 | 0.41 | 6.94 | 7.05 | 1.76 | 3.00 | (0.29) |
Alpha Spread
Preferences
We rebuilt our DCF valuation models from the ground up and upgraded how Intrinsic Value is calculated. Alpha Spread now selects the method that best fits each company.
You can now see how the new methodology performed across thousands of stocks on our new Valuation Backtest page. We update the results at the end of every month.
New to Alpha Spread? Create free account
By using Alpha Spread you are agreeing to our Terms of Service and Privacy Policy.
Already have an account? Sign in
Stock intrinsic value is the real worth of a company's stock, based on its financial health and performance.
Instead of looking at the stock's current market price, which can change due to people's opinions and emotions, intrinsic value helps us understand if a stock is truly a good deal or not.
By focusing on the company's actual financial strength, like its earnings and debts, we can make better decisions about which stocks to buy and when.
Read more