Weak Cash Conversion And Negative TTM FCFNegative TTM free cash flow and very low operating‑cash‑to‑debt ratio signal fragile cash generation. This limits capacity to fund tooling, capex, or absorb program timing shocks, raising refinancing and liquidity risk if volumes or margins slip.
Revenue Contraction And Inconsistent ResultsTop‑line has contracted and performance swung from multi‑year losses to recent profits, reflecting sensitivity to vehicle program cycles and volume shifts. Program dependence and inconsistent revenues heighten execution risk and make forecasting cash and earnings less reliable.
Moderate Leverage Limits FlexibilityLeverage near parity with equity increases financial strain during downturns. Combined with volatile cash flows and negative TTM FCF, this capital structure reduces ability to absorb shocks, pursue strategic investments, or smooth dividends without raising external funding.