| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 2 | 2 | 2 | 1 | -5 | -7 | -5 | 6 |
| Borrowings | 2 | 2 | 2 | 3 | 3 | 3 | 2 | 2 |
| Other Liabilities | 9 | 3 | 3 | 4 | 1 | 1 | 19 | 23 |
| Total Liabilities | 22 | 16 | 15 | 17 | 8 | 6 | 25 | 40 |
| AssetsFixed Assets | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| CWIP | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 19 | 13 | 13 | 14 | 5 | 4 | 23 | 39 |
| Total Assets | 22 | 16 | 15 | 17 | 8 | 6 | 25 | 40 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -1 | 0 | -1 | 0 | -1 | 0 | 0 | 0 |
| Cash from Investing | 3 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Cash from Financing | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 1 | 0 | -1 | 0 | -1 | 0 | 0 | 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.
GRAVITY · CYCLICAL_UNMODELABLE
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