2019 has been filled with many commercial successes as proven by a book-to-bill at 1.69x. Yet, this has not stopped the stock price from sliding, as the company struggles with lower margins and lower oil prices. However, we note that operating cash flows are guided upwards against a lower EBITDA, increasing de facto the cash conversion from EBITDA, another issue TechnipFMC has been dealing with.
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Q4: mixed results
2019 has been filled with many commercial successes as proven by a book-to-bill at 1.69x. Yet, this has not stopped the stock price from sliding, as the company struggles with lower margins and lower oil prices. However, we note that operating cash flows are guided upwards against a lower EBITDA, increasing de facto the cash conversion from EBITDA, another issue TechnipFMC has been dealing with.