| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 18 | 18 | 18 | 18 | 18 | 18 | 23 | 26 |
| Reserves | -14 | -3 | -1 | 3 | -5 | -23 | -14 | -4 |
| Borrowings | 40 | 30 | 24 | 25 | 15 | 22 | 17 | 8 |
| Other Liabilities | 18 | 28 | 21 | 17 | 28 | 31 | 27 | 31 |
| Total Liabilities | 62 | 73 | 62 | 62 | 56 | 48 | 53 | 61 |
| AssetsFixed Assets | 24 | 21 | 20 | 27 | 19 | 18 | 24 | 23 |
| CWIP | 2 | 2 | 3 | 3 | 0 | 5 | 2 | 2 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 36 | 50 | 39 | 32 | 38 | 25 | 28 | 36 |
| Total Assets | 62 | 73 | 62 | 62 | 56 | 48 | 53 | 61 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | -7 | -2 | -6 | 3 | 0 | -1 | -18 |
| Cash from Investing | 2 | 9 | 19 | 11 | 0 | 10 | -5 | -4 |
| Cash from Financing | -2 | -3 | -13 | -8 | -2 | -10 | 7 | 21 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 2 | 2 | 9 | -6 | 3 | 10 | -6 | -22 |
| 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.
ECOBOAR · CYCLICAL_UNMODELABLE
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