Negative Equity And High LeverageDebt-to-equity of -5.68 and negative shareholders' equity signal elevated solvency and leverage risks. Structural high indebtedness reduces financial flexibility, increases refinancing risk, and limits ability to invest or withstand commodity or interest-rate shocks over the next several quarters.
Persistent Operating UnprofitabilityNet margin of -34.69% and EBIT margin of -15.54% show core operations are loss-making. Persistent negative operating profitability erodes internal reserves, limits retained earnings and reinvestment capacity, and makes the business reliant on external financing or significant structural cost/price improvements.
Weak And Deteriorating Cash Growth/conversionFCF growth down -46.76% and OCF/net income of -0.24 TTM indicate weakening cash generation and poor earnings-to-cash conversion. Over months this reduces capacity to service debt, fund maintenance or growth capex, and increases probability of requiring external capital to sustain operations.