Balance Sheet StrengthExtremely low leverage and a very high equity ratio provide durable financial flexibility. This reduces insolvency risk, lowers financing costs, and enables the company to fund capex, R&D or targeted M&A from internal capital, supporting resilience across cycles.
Cash GenerationSustained improvement in operating and free cash flow indicates strong conversion of earnings to cash. Persistent cash generation supports organic reinvestment, maintenance capex, and working capital needs, reducing reliance on external financing for growth.
Revenue Recovery & Margin ExpansionTop-line recovery alongside a materially higher gross margin suggests strengthening demand and better cost management. These durable improvements enhance operating leverage potential and create room for sustainable profit improvement as volumes scale.