{
  "docId": "019dd923-622c-750b-8b99-7df068ad1ae5",
  "docSlug": "55f4c152cfe0",
  "documentTitle": "WSP Global Inc. (WSP)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-04-03 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 53,
  "pageCount": 68,
  "prevPage": 52,
  "nextPage": 54,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "balanced",
  "nDataPoints": 16,
  "notes": "The chart uses a reclassification methodology to adjust WSP's cash flow metrics for comparison.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "bar_chart_vertical",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-7df068ad1ae5/53",
  "deckHref": "/decks/019dd923-622c-750b-8b99-7df068ad1ae5",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-7df068ad1ae5.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-7df068ad1ae5#slide-53",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.96,
        "x": 0.02,
        "y": 0.17
      },
      "kind": "callout",
      "text": "By reclassifying WSP's net financing expense as an operational cash flow as opposed to a financing cash flow, we find that the Company's operating cash flow margin lags the industry average.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5b641365-c1b4-47ce-a856-437d949e9803",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.7,
        "x": 0.18,
        "y": 0.3
      },
      "kind": "chart",
      "text": "LTM Cash From Operations Margin",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "38c5ce4c-7fd2-495b-945b-8f6d8de11c8e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "LTM Cash From Operations Margin: 5.5%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0398-7399-b332-1cdc30cf0903",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.96,
        "x": 0.02,
        "y": 0.96
      },
      "kind": "source-note",
      "text": "Source: Company financials. Note: As a percentage of gross revenues and cash flows adjusted for cash payments made to settle employee compensation schemes.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0f171bc3-35a2-49fe-b633-5acff91faac6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.65,
        "x": 0.31,
        "y": 0.05
      },
      "kind": "title",
      "text": "Our Analysis Indicates That WSP's Cash Flow Lags Industry Peers",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "669d684d-08c5-4f4d-a786-15c4935d5a99",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "dece471a-9e73-415f-9720-96144c7c0a9a",
      "evidence": "Comparison of WSP against industry peers on a specific financial metric.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 68,
      "from": 9,
      "beatId": "f8978e98-df21-43e6-a756-a65765818a20",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Expose Contradiction",
      "beatSlug": null,
      "evidence": "The document repeatedly exposes contradictions in WSP's reporting and operations",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}