| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 1 | 1 | 1 | 1 | 1 | 17 | 17 | 28 |
| Reserves | 0 | 0 | -1 | -1 | -1 | 15 | 25 | 94 |
| Borrowings | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 48 |
| Other Liabilities | 0 | 0 | 0 | 0 | 0 | 24 | 53 | 35 |
| Total Liabilities | 1 | 1 | 1 | 0 | 1 | 55 | 95 | 205 |
| AssetsFixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 8 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 26 | 21 | 0 |
| Other Assets | 1 | 1 | 1 | 0 | 1 | 30 | 72 | 198 |
| Total Assets | 1 | 1 | 1 | 0 | 1 | 55 | 95 | 205 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | 0 | 0 | 0 | -1 | 0 | 1 | -96 |
| Cash from Investing | 0 | 0 | 1 | 0 | 0 | 0 | -26 | -2 |
| Cash from Financing | 0 | 0 | 0 | 0 | 0 | 0 | 28 | 102 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 0 | 0 | 0 | 0 | -1 | 0 | 1 | -105 |
| FCF Margin | — | — | — | — | — | — | — | — |
This looks cyclical, and we don't have enough quarters to establish a through-cycle earnings base. Valuing it off the current point in the cycle would be misleading.
AEIM · CYCLICAL_UNMODELABLE
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