Choppy, Declining RevenueRepeated revenue declines indicate weakening demand or lost commercial momentum. Over a 2–6 month horizon this structural softness can erode scale economies, limit reinvestment capacity, and pressure margins and cash generation, making it harder to sustain long-term growth plans.
Cash-flow VolatilityA sharp FCF drop in 2025 after a prior jump shows inconsistent cash conversion. Persistent volatility reduces predictability for dividends, buybacks and capex, raises funding risk for strategic projects, and weakens confidence in the company's ability to self-finance during downturns.
Shrinking Balance-sheet CushionDeclining equity and shrinking assets signal a reduced capital buffer. A thinner balance sheet limits resilience to shocks, constrains M&A or opportunistic investments, and increases vulnerability to further earnings declines, reducing strategic optionality over the medium term.