Negative Operating And Free Cash FlowsNegative operating and free cash flows show the company is not yet converting revenue into sustainable cash, limiting internal funding for capex, exploration, or working capital. Persisting cash outflows increase dependence on external financing and elevate execution and liquidity risk over several quarters.
Cash Flows Not Aligned With Net IncomeA high free cash flow to net income ratio indicates misalignment between accounting profit and cash generation, possibly from timing, one-offs, or working-capital movements. This reduces earnings quality and makes available cash for debt service, reinvestment, or distributions less predictable over the medium term.
Limited Profitability Despite ImprovementROE near 0.6% and modest net/EBITDA margins indicate limited ability to convert growth into strong shareholder returns. Even with revenue gains, constrained profitability reduces internal capital generation and the capacity to fund expansion or return cash to investors without further efficiency gains or sustained margin improvement.