| Line item | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 3 | 14 | 15 | 15 | 15 |
| Reserves | 0 | -1 | 33 | 29 | 22 |
| Borrowings | 2 | 1 | 15 | 22 | 40 |
| Other Liabilities | 0 | 5 | 6 | 7 | 7 |
| Total Liabilities | 5 | 19 | 69 | 73 | 84 |
| AssetsFixed Assets | 1 | 5 | 19 | 42 | 45 |
| CWIP | 0 | 4 | 37 | 25 | 29 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 4 | 10 | 13 | 7 | 10 |
| Total Assets | 5 | 19 | 69 | 73 | 84 |
| Line item | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | -2 | -5 | -3 |
| Cash from Investing | 0 | -5 | -37 | -20 |
| Cash from Financing | 0 | 8 | 41 | 23 |
| SummaryCapital Expenditure | — | — | — | — |
| Free Cash Flow | 0 | -5 | -38 | -23 |
| FCF Margin | — | — | — | — |
An earnings-based reverse DCF needs positive, normalized profits. This business doesn't have them yet, so any 'fair value' would be fiction.
AERPACE · LOSS_MAKING
Guides on how to read this kind of business and the numbers that matter.