| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 19 | 19 | 19 | 19 | 29 | 36 | 36 | 36 |
| Reserves | 36 | 28 | 20 | 17 | 97 | 123 | 125 | 130 |
| Borrowings | 128 | 126 | 139 | 143 | 111 | 150 | 126 | 110 |
| Other Liabilities | 42 | 62 | 59 | 60 | 51 | 74 | 110 | 91 |
| Total Liabilities | 225 | 236 | 237 | 239 | 288 | 383 | 398 | 368 |
| AssetsFixed Assets | 120 | 123 | 123 | 119 | 136 | 192 | 193 | 190 |
| CWIP | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 104 | 112 | 114 | 120 | 151 | 190 | 204 | 178 |
| Total Assets | 225 | 236 | 237 | 239 | 288 | 383 | 398 | 368 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 37 | 26 | 29 | 7 | 20 | 11 | 28 | 31 |
| Cash from Investing | -23 | -15 | -13 | -12 | -8 | -32 | -64 | -15 |
| Cash from Financing | -14 | -12 | -16 | 5 | -13 | 22 | 34 | -12 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 14 | 11 | 16 | -6 | 12 | -21 | -36 | 16 |
| 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.
OKPLA · CYCLICAL_UNMODELABLE
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