Negative Free Cash Flow Due To CapexPersistent negative free cash flow driven by heavy capex means the company must rely on external financing or equity to fund growth. Over 2–6 months continued negative FCF can pressure liquidity, restrict distributions, and raise refinancing and funding risks.
Potential Over-leverage From Rapid Asset GrowthRapid asset expansion outpacing liability growth can mask funding concentration or asset quality issues. If asset growth is financed aggressively, solvency metrics could deteriorate with slower cash conversion, increasing financial risk in the medium term.
Compression In Operating EfficiencyA declining EBIT margin, even amid revenue growth, indicates rising operating costs or margin pressure. Without efficiency gains or better case mix, margin compression could limit net profitability expansion and undermine long-term returns on incremental revenue.