Price
Market Cap
Sector
Services
Rank
| Line item | FY17 | FY18 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 5 | 5 | 53 | 53 | 55 | 56 | 57 | 57 |
| Reserves | -24 | -14 | -19 | -1 | 50 | 94 | 108 | 120 |
| Borrowings | 13 | 7 | 4 | 0 | 1 | 2 | 1 | 25 |
| Other Liabilities | 11 | 3 | 15 | 28 | 20 | 41 | 53 | 43 |
| Total Liabilities | 4 | 0 | 53 | 81 | 126 | 194 | 219 | 245 |
| AssetsFixed Assets | 0 | 0 | 6 | 6 | 13 | 25 | 28 | 69 |
| CWIP | 0 | 0 | 0 | 0 | 10 | 30 | 29 | 15 |
| Investments | 0 | 0 | 6 | 19 | 41 | 57 | 59 | 59 |
| Other Assets | 4 | 0 | 41 | 57 | 62 | 82 | 103 | 103 |
| Total Assets | 4 | 0 | 53 | 81 | 126 | 194 | 219 | 245 |
| Line item | FY16 | FY17 | FY18 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | 0 | 6 | -6 | -3 | -1 | 17 | 23 |
| Cash from Investing | 0 | 0 | 0 | -15 | -10 | -38 | -50 | -45 |
| Cash from Financing | 0 | 0 | -6 | 23 | 11 | 43 | 29 | 23 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 0 | 0 | 6 | -7 | -3 | -19 | -16 | -10 |
| 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.
SPCENET · CYCLICAL_UNMODELABLE
Guides on how to read this kind of business and the numbers that matter.