| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 13 |
| Reserves | 30 | 31 | 31 | 31 | 32 | 35 | 36 | 57 |
| Borrowings | 29 | 36 | 31 | 24 | 30 | 15 | 31 | 53 |
| Other Liabilities | 18 | 11 | 19 | 17 | 11 | 16 | 17 | 16 |
| Total Liabilities | 88 | 89 | 92 | 83 | 85 | 77 | 95 | 138 |
| AssetsFixed Assets | 34 | 31 | 28 | 24 | 22 | 25 | 28 | 29 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 54 | 58 | 64 | 59 | 63 | 52 | 67 | 80 |
| Total Assets | 88 | 89 | 92 | 83 | 85 | 77 | 95 | 138 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 7 | 19 | -5 | 5 | 8 | -5 | 24 | -22 |
| Cash from Investing | 0 | -1 | 0 | 0 | 0 | 0 | -6 | -34 |
| Cash from Financing | -6 | -17 | 5 | -1 | -11 | 4 | -18 | 56 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 6 | 17 | -5 | 5 | 8 | -6 | 17 | -57 |
| 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.
REMIEDEL · CYCLICAL_UNMODELABLE
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