| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 11 | 12 | 13 | 13 | 14 | 14 | 15 | 15 |
| Reserves | -22 | -7 | -5 | -24 | 186 | 166 | 130 | 127 |
| Borrowings | 6 | 10 | 45 | 74 | 86 | 100 | 85 | 130 |
| Other Liabilities | 39 | 43 | 24 | 31 | 39 | 62 | 89 | 41 |
| Total Liabilities | 34 | 58 | 77 | 95 | 325 | 342 | 320 | 312 |
| AssetsFixed Assets | 5 | 29 | 39 | 38 | 273 | 282 | 295 | 246 |
| CWIP | 10 | 13 | 19 | 25 | 32 | 40 | 1 | 0 |
| Investments | 0 | 0 | 0 | 6 | 3 | 0 | 0 | 0 |
| Other Assets | 19 | 16 | 19 | 26 | 17 | 20 | 24 | 66 |
| Total Assets | 34 | 58 | 77 | 95 | 325 | 342 | 320 | 312 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -1 | 9 | 5 | -4 | -21 | 12 | 10 | -52 |
| Cash from Investing | -3 | -10 | -7 | -9 | -13 | -5 | -4 | 57 |
| Cash from Financing | 4 | 2 | 1 | 12 | 35 | -8 | -5 | 3 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -4 | 2 | 1 | -13 | -27 | 4 | 3 | -56 |
| FCF Margin | — | — | — | — | — | — | — | — |
For capital-heavy businesses (telecom, power, heavy manufacturing) reported profit ignores the cash needed just to stand still. We'd systematically overvalue it, so we don't show a number.
ATHENAGLO · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.