Material TTM Revenue DeclineA near-25% TTM revenue drop is a substantial structural warning: it raises questions about demand, market share or channel disruptions. Persisting revenue erosion would strain growth prospects, limit operating leverage benefits, and could force margin trade-offs to regain volume over multiple quarters.
Weakening Free Cash Flow MomentumAlthough absolute FCF remains positive, declining FCF growth in the latest year and TTM reduces internal funding for investment and dividends. If the trend continues, the company may need to slow expansion, delay strategic projects, or increase reliance on external financing, affecting long-term plans.
Balance-sheet Comparability IssuesMaterial gaps between TTM and prior annual balance-sheet figures complicate trend analysis and forecasting. Reduced comparability makes assessing leverage, liquidity, and asset quality harder, increasing model risk for investors and potentially masking structural weaknesses over several reporting periods.