| Line item | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|
| LiabilitiesEquity Capital | 20 | 20 | 20 | 20 |
| Reserves | 1 | 4 | 7 | 9 |
| Borrowings | 0 | 0 | 0 | 2 |
| Other Liabilities | 0 | 1 | 13 | 12 |
| Total Liabilities | 22 | 26 | 40 | 43 |
| AssetsFixed Assets | 0 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Other Assets | 22 | 26 | 40 | 43 |
| Total Assets | 22 | 26 | 40 | 43 |
| Line item | FY24 | FY25 | FY26 |
|---|---|---|---|
| ActivitiesCash from Operating | 2 | 4 | 0 |
| Cash from Investing | 1 | 1 | 5 |
| Cash from Financing | 0 | -4 | 2 |
| SummaryCapital Expenditure | — | — | — |
| Free Cash Flow | 2 | 4 | 0 |
| 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.
COLAB · CYCLICAL_UNMODELABLE
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