Very Low Leverage / Strong Balance SheetExtremely low debt and a sizeable equity base provide durable financial flexibility: supports R&D and capex, lowers refinancing and interest risks, and allows the company to fund downturns or strategic investments without pressuring liquidity, a multi-month to multi-year advantage.
Strong Recent Cash Generation (2025)Material free cash flow in 2025 demonstrates the company's ability to convert profits into spendable cash, supporting reinvestment, maintenance of installed base, and shareholder returns. Sustained FCF enhances long-term capital allocation options despite prior volatility.
Diversified Equipment + Recurring Service Revenue MixA business model combining capital equipment sales with recurring service, consumables and coated product sales builds an installed-base driven revenue stream. This mix cushions cycles in new equipment orders and promotes long-term customer ties and predictable service revenue.