| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 1 | 1 | 1 | 1 | 1 | 20 | 34 | 34 |
| Reserves | -4 | -4 | -4 | -4 | -4 | 17 | 34 | 36 |
| Borrowings | 3 | 3 | 3 | 3 | 3 | 5 | 0 | 0 |
| Other Liabilities | 0 | 0 | 0 | 0 | 0 | 13 | 3 | 18 |
| Total Liabilities | 1 | 1 | 1 | 0 | 0 | 54 | 71 | 87 |
| AssetsFixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Other Assets | 0 | 0 | 0 | 0 | 0 | 54 | 70 | 87 |
| Total Assets | 1 | 1 | 1 | 0 | 0 | 54 | 71 | 87 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -0 | -2 | -0 | 0 | 0 | 0 | -39 | -23 |
| Cash from Investing | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 0 | 2 | 0 | -0 | 0 | 0 | 39 | 24 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -0 | -2 | -0 | 0 | 0 | 0 | -39 | -23 |
| 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.
ICONIKSPEV · CYCLICAL_UNMODELABLE
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