Cash-flow Volatility HistoryLarge swings from negative to positive free cash flow reduce predictability of internally funded capex, dividends, or buybacks. Persistent volatility complicates planning, increases reliance on liquidity buffers, and raises execution risk for multi-quarter strategic investments.
Elevated Total Liabilities Require MonitoringThough leverage is moderate, a sizeable liability base can constrain financial flexibility if earnings or cash flow weaken. Rising interest or refinancing needs could pressure margins and limit the firm's ability to accelerate R&D or capacity expansion during downturns.
End-market Cyclicality RiskConcentration in telecom and consumer electronics exposes Tazmo to hardware demand cycles and capex timing. These structural industry swings can cause revenue and margin variability across multi-quarter horizons, amplifying operational and cash-flow risk despite strong recent performance.