Negative Free Cash FlowRecent negative free cash flow and weak cash conversion reveal structural issues converting accounting earnings into cash. Persistent cash shortfalls limit self-funding of R&D, capex and service expansion, increase reliance on external financing, and raise medium-term liquidity and execution risk.
Declining Revenue TrendsSignificant recent revenue declines and inconsistent top-line trends suggest weakening demand or market-share pressures. This undermines scale economics in capital equipment, complicates long-term planning for product development and aftermarket growth, and raises uncertainty about sustainable growth.
Volatile Profitability & ReturnsInconsistent ROE and reported erosion in EBIT/EBITDA margins point to operational and margin pressure. Volatile profitability reduces predictability of cash generation and weakens the company's ability to reliably reinvest or pay down debt, hampering sustained shareholder value creation.