Negative Cash GenerationNegative operating and free cash flows show reported profits aren't converting to cash, primarily because of heavy capex. Persisting cash-generation shortfalls can force external financing, strain working capital, and limit the company's ability to fund growth or pay down debt sustainably.
Rising Absolute Debt RiskAlthough leverage ratios are presently conservative, a noted increase in total debt in 2025 raises the risk of higher interest costs and refinancing needs. Rising absolute debt can constrain strategic flexibility and magnify downside if revenue or margins weaken.
Declining EPSA roughly 35% decline in EPS despite revenue growth indicates per-share profitability erosion, potentially from higher costs, non-operating charges, or dilution. If sustained, weaker EPS undermines shareholder returns and signals operational or capital-allocation issues needing correction.