| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 1 | 1 | 1 | 1 | 1 | 6 | 6 | 6 |
| Reserves | -1 | -1 | -1 | -1 | -0 | 29 | 37 | 37 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 0 | 0 | 0 | 0 | 3 | 7 | 0 | 0 |
| Total Liabilities | 0 | 0 | 0 | 0 | 3 | 43 | 43 | 43 |
| 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 | 42 | 43 | 43 |
| Other Assets | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 |
| Total Assets | 0 | 0 | 0 | 0 | 3 | 43 | 43 | 43 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | 0 | 0 | -0 | -0 | 0 | 1 | -1 |
| Cash from Investing | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 1 |
| Cash from Financing | -0 | -0 | 0 | 0 | 0 | -0 | -0 | -0 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 0 | 0 | 0 | -0 | -0 | 0 | 0 | -1 |
| 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.
MANBRO · CYCLICAL_UNMODELABLE
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