| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 3 | 3 | 3 | 3 | 3 | 6 | 6 | 6 |
| Reserves | 1 | 3 | 7 | 10 | 14 | 39 | 40 | 49 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 7 | 5 | 4 | 4 | 4 | 10 | 9 | 30 |
| Total Liabilities | 11 | 12 | 14 | 18 | 21 | 55 | 54 | 84 |
| AssetsFixed Assets | 3 | 2 | 3 | 2 | 2 | 17 | 17 | 16 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 8 | 9 | 12 | 15 | 19 | 38 | 36 | 68 |
| Total Assets | 11 | 12 | 14 | 18 | 21 | 55 | 54 | 84 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 2 | 1 | 1 | 0 | 0 | 4 | -10 | 3 |
| Cash from Investing | 0 | -3 | 0 | -1 | 0 | 0 | -15 | -6 |
| Cash from Financing | 0 | 0 | 0 | 0 | 0 | 0 | 30 | 0 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 1 | -1 | 1 | -1 | 0 | 3 | -25 | -2 |
| 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.
VISTARAMAR · CYCLICAL_UNMODELABLE
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