Cash GenerationConsistent and growing free cash flow (~7.0M, +14% YoY) supports capital allocation and de-risking. High cash conversion with FCF close to net income indicates earnings quality, funds organic investment, debt paydown and provides a durable buffer through cycles.
Improving LeverageMarked deleveraging (debt/equity ~0.35 vs ~0.67 in 2023) and rising equity strengthen the balance sheet, reduce refinancing risk and interest burden, and increase financial flexibility for capex, M&A or shareholder returns over the medium term.
Revenue & Profitability RecoveryReturn to sustained profitability since 2022 with ~19% revenue growth and ~12% net margin in 2025 signals durable demand recovery and improved operating leverage. This trend underpins earnings resilience and supports reinvestment and steady cash flows.