Revenue Analysis
Total and Operating Revenue: CR has shown consistent growth in operating revenue over the specified period. From 2023-03-31 to 2024-03-31, operating revenue increased from $513.8 million to $565.3 million. This progression indicates a steady market presence and expanding operations.
Gross Profit Margins: Gross profit also increased commensurate with revenue, from $206.9 million in 2023-03-31 to $220.5 million in 2024-03-31. This demonstrates effective management in maintaining profit margins despite revenue scale.
Cost Management
Cost of Revenue: Cost of revenue was significantly high relative to revenues, indicating that the gross margins could be under pressure if costs aren’t controlled more stringently in future periods.
Operating Expense: Operating expenses have displayed a controlled uptrend aligning with revenue growth which helps in maintaining operational efficiency.
Total Expenses: Total expenses have increased, matching the trends seen in operating revenue and profit, suggesting that the increases in costs are aligned with business expansion activities.
Profitability Analysis
EBITDA and Operating Income: Both EBITDA and Operating Income have shown improvement from 2023-03-31 to 2024-03-31, indicating robust operational control and growing business efficacy. Specific notable increases in operating income from $77.5 million to $89.4 million signal strong operational execution.
Pretax Income and Net Income: Pretax and Net Income figures have similarly illustrated growth alongside other profitability metrics. Net Income has progressed from $105.7 million at 2023-03-31 to $64.8 million at 2024-03-31, notably after a substantial one-off gain in the 2023-03-31 period.
Cash Flow Indicators
Reconciled Depreciation: Increases in reconciled depreciation suggest ongoing investment in assets which is typical for expanding operations. It moved from $9.2 million in 2023-03-31 to $12.9 million by 2024-03-31.
Interest Expense: Interest expenses have fluctuated, potentially reflecting changes in debt levels or financing strategies across the periods.
Taxation
Tax Rate: There have been variations in the effective tax rate, which have certainly impacted net income figures portrayed in the periodic financial statements. These changes must be accounted for in profit planning and tax strategy.
Tax Provision: The tax provision has increased somewhat proportionally with pretax income, which underlines a stable tax environment.
Shareholder Metrics
Diluted and Basic EPS: EPS has shown improvement, moving from 1.84 to 1.12 in diluted terms from 2023-03-31 to 2024-03-31, reflecting successful delivery of value back to shareholders.
Average Shares and Net Income Available to Common Stockholders: Average shares have been fairly stable, suggesting no significant equity dilution during the period. Net Income Available to Common Stockholders matches general net income development, underscoring stable profit allocation strategies.
Conclusion
CR has demonstrated steady financial growth and operational improvement across the period reviewed. Continued vigilance on cost management, proactive tax planning, and strategic capital allocation are recommended to sustain and enhance shareholder value. The dynamism in profitability and revenue portray a positive trajectory that should be enticing to existing and potential investors.