Declining RevenueConsistent revenue decline signals weakening demand, execution delays or reduced completions. Over multiple quarters this erodes scale benefits, pressures fixed-cost absorption, and can shrink development pipelines and partner confidence, impairing medium-term growth and project cadence.
Poor Cash GenerationNegative operating and free cash flows reflect weak conversion of earnings into liquidity and strained working capital from developments. Persistent cash-flow deficits limit reinvestment, increase reliance on external financing, and raise refinancing and covenant risks across the next several quarters.
Negative Return On EquityA negative ROE shows the firm is not delivering returns to shareholders and signals operational losses or poor capital allocation. If sustained, this undermines capacity to attract equity, raises cost of capital, and constrains funding for new projects or dividend policies over the medium term.