| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 11 | 11 | 11 | 20 | 26 | 26 | 26 | 26 |
| Reserves | 53 | 53 | 43 | 100 | 68 | 55 | 54 | 56 |
| Borrowings | 3 | 3 | 3 | 30 | 28 | 32 | 33 | 38 |
| Other Liabilities | 0 | 0 | 0 | 6 | 15 | 24 | 63 | 85 |
| Total Liabilities | 67 | 67 | 58 | 156 | 136 | 136 | 175 | 204 |
| AssetsFixed Assets | 57 | 57 | 48 | 74 | 90 | 83 | 81 | 78 |
| CWIP | 0 | 0 | 0 | 0 | 4 | 5 | 5 | 5 |
| Investments | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 |
| Other Assets | 8 | 8 | 8 | 79 | 39 | 47 | 89 | 120 |
| Total Assets | 67 | 67 | 58 | 156 | 136 | 136 | 175 | 204 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | 0 | 0 | 0 | -50 | -10 | -2 | — |
| Cash from Investing | 0 | 0 | 0 | 0 | -27 | -23 | 0 | — |
| Cash from Financing | 0 | 0 | 0 | 0 | 102 | 1 | 1 | — |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 0 | 0 | 0 | 0 | -77 | -35 | -3 | — |
| 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.
WARDWIZFBL · CYCLICAL_UNMODELABLE
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