Cash Conversion EfficiencyA decline in FCF-to-net-income implies cash generation lagging accounting profits, which can constrain persistent reinvestment, dividends or debt reduction. Over months this could pressure funding for upgrades, inventory or marketing if not reversed despite overall FCF growth.
Business ConcentrationHeavy dependence on PC hardware and related peripherals concentrates revenue risk in a commoditized, cyclical segment. Structural shifts in demand, pricing pressure from larger OEMs, or component cost swings could have outsized impact on revenue and margins over the medium term.
Scale & Competitive PositionA relatively modest headcount and domestic brand focus suggest limited global scale versus major OEMs. This can constrain procurement leverage, R&D breadth and channel reach, making it harder to sustain price and feature competitiveness as industry consolidation and scale advantages persist.