High Profitability MarginsSustained gross margins above 37% and a mid-single-digit net margin with a 10% EBIT indicate structural pricing power and cost control. This margin profile supports reinvestment, funds capex and distribution, and provides a durable buffer versus cost shocks over the next several quarters.
Very Low Leverage / Strong Equity BaseA consistently high equity ratio and minimal debt create financial flexibility to fund expansion, absorb downturns, and avoid refinancing stress. Low leverage reduces interest burden and supports long-term strategic investments in capacity, showrooms, and brand reach without reliance on external funding.
Solid Free Cash Flow GenerationPositive and growing free cash flow, alongside strong operating cash conversion, underpins durable internal funding for capex, working capital and shareholder returns. Reliable cash generation reduces dependence on external financing and supports execution of multi-quarter growth initiatives.