ORWE Market Analysis

ORWE Technical Analysis

Executive Summary

The Oriental Weavers (ORWE) stock is showing clear signs of a bullish reversal on the medium-term horizon. Technical analysis from multiple angles (price structure, indicators, volume, and wave patterns) supports the notion that buying pressure is starting to enter the market, and the downtrend is nearing its end.

First: Price Structure Analysis

🔹 Weekly Timeframe – Bottom Formation Phase

The support around 21.00 is solid, and the price is forming small reversal candles, indicating accumulation or absorption of sell orders.
The moving averages are about to perform a golden cross around 24.00, and if a weekly close occurs above 24.50, it will significantly alter the trend.
Large volume spikes are visible around 26.00–28.00, suggesting that there is a critical price zone that could lead to a rally if broken above 24.50.

🔹 Daily and 4-Hour Timeframes – Bullish Confirmation Starting

Breakout Structure (CHoCH): The price broke previous resistance levels and is beginning to form a new bullish trend.
Demand Zones and Overlapping Indicators: The price has reclaimed previous selling zones, indicating the intent to rise toward 24.50 soon.
Fibonacci Levels: Initial targets are around 25.25 – 26.50 based on the golden retracement zones.

Second: Volume and Price Flow Analysis

Volume Flow Analysis (Delta)

There is clear accumulation between 22.70–23.30, indicating that large players are entering.
Delta Buy Pressure around 23.40 shows strong buying activity entering the market.
The general Delta trend is positive, reflecting a shift in market sentiment.

Third: Momentum Indicators and Crossovers

Relative Strength Index (RSI)

RSI across multiple timeframes is above 48, with the daily timeframe breaking above 50, marking the first signal of a rising momentum.
There is positive divergence between the price and the indicator, providing additional support for the reversal idea.

ADX + DI Indicator

ADX is rising above 23 on the daily timeframe, indicating strengthening of the trend.
The positive DI is above the negative DI, confirming the bullish trend.

MACD Indicator

The positive crossover has been confirmed, and the histogram has moved above zero.
Momentum is increasing, supporting the notion of continued upward movement.

Stochastic RSI

The indicator is in overbought territory but still moving upwards, suggesting that the bullish trend remains strong and not exhausted.
On the 4-hour timeframe, the indicator moved up from below, offering a positive signal for the short-term trend.

Fourth: Elliott Waves and Patterns

🔺 Elliott Wave Analysis

The market has completed the corrective structure (A-B-C) and is now starting a new upward move.
The corrective wave ended around 22.00.
Currently, we are in wave 1 of a new bullish cycle, with potential targets for wave 3 around 27.00 – 29.00.

Fifth: Liquidity and Institutional Behavior

🟢 Liquidity Flow

The market has absorbed sell-side liquidity below 23.10 and is now moving back above equilibrium levels.
There is clear intention to visit higher price zones, confirming institutional interest.

🔴 Sell-Side Liquidity Blocks

A key sell-side liquidity block exists around 24.50 – 25.25. A break above this area would open the door for a rally towards 28.00.

Potential Scenarios

Base Scenario: Upward Shift and Expansion

Main Signal: Daily close above 24.50.
Targets: 25.25 → 27.00 → 28.50.
Stop-loss: Break below 22.30.
Scenario Probability: 70%.

❕ Alternative Scenario: Temporary Pullback and Reaccumulation

A rejection around 24.50 and a slight pullback to retest 23.00 before another move up.
This is not bearish unless we break below 22.30.

Long-Term View

The stock has completed a long corrective phase since 2024.
There is clear breakage of the downtrend, and with these indicators, upward movement is now the likely scenario.
The current action is akin to “accumulation before an explosion,” presenting an excellent opportunity to position for the rise.

📌 Key Takeaways

Point	Status	Comment
Weekly Trend	End of Bottoming Phase	Price breaking above the moving average.
Daily Structure	Confirmation of Bullish Reversal	Breakout + Positive Liquidity
RSI / MACD / ADX	Positive Crossovers	Momentum is bullish.
Elliott Waves & Patterns	End of Correction, Starting Wave 1	Wave 3 targets.
Volume & Liquidity	Clear Buy-side Liquidity	Institutional Interest.
Price Targets	25.25 → 27.00 → 28.50	Gradual targets upwards.

🎯 Conclusion: Clear Bullish Reversal

The ORWE stock is showing real technical strength on all fronts. It is an exceptional opportunity, and the likelihood of upward movement is increasing based on current indicators.

The current phase is not a sell, but rather an opportunity for smart positioning.

ORWE Financial Analysis

Fiscal Year	Period Ending	Report Date	Restatement Type
Fiscal Years
FY 2022	Dec-31-2022	Feb-27-2023	No Change from Original
FY 2023	Dec-31-2023	Feb-28-2024	No Change from Original
FY 2024	Dec-31-2024	Feb-27-2025	Original
Current/LTM	Apr-24-2025	Apr-24-2025	Current/LTM

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Key Financials
Total Revenues	13,255.7 M	17,658.5 M	24,288.9 M	24,288.9 M
YoY Growth %	16.24 %	33.22 %	37.55 %	37.55 %
Gross Profit	1,256.1 M	2,549.7 M	3,103.2 M	3,103.2 M
Gross Profit Margin	9.48 %	14.44 %	12.78 %	12.78 %
EBITDA	1,199.2 M	2,447.5 M	3,208.7 M	3,208.7 M
EBITDA Margin	9.05 %	13.86 %	13.21 %	13.21 %
Net Income	842.9 M	1,740.2 M	2,192.3 M	2,192.3 M
Net Income Margin	6.36 %	9.85 %	9.03 %	9.03 %
Diluted EPS	2.06	1.59	2.72	2.72
YoY Growth %	73.19 %	(23.03) %	71.28 %	71.28 %
Price / Earnings (P/E)	5.3 x	11.7 x	9.0 x	8.6 x

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Capital Structure
Market Capitalization	7,296.2 M	12,317.8 M	16,268.5 M	15,610.1 M
Cash & Equivalents	3,244.5 M	4,567.3 M	6,304.1 M	6,304.1 M
Total Debt	5,966.1 M	5,767.0 M	8,581.5 M	8,581.5 M
Preferred Equity	–	–	–	–
Minority Interest	1,164.2 M	1,361.5 M	2,134.0 M	2,134.0 M
Enterprise Value (EV)	11,193.6 M	14,879.0 M	20,679.8 M	20,021.4 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Cash Flow Analysis
Cash from Operations	1,232.3 M	3,134.3 M	1,910.1 M	1,910.1 M
YoY Growth %	206.06 %	154.34 %	(39.06) %	(39.06) %
Capital Expenditure	(744.1) M	(452.6) M	(786.5) M	(786.5) M
YoY Growth %	31.44 %	(39.18) %	73.78 %	73.78 %

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Revenues
Total Revenues	13,255.7 M	17,658.5 M	24,288.9 M	24,288.9 M
Finance Div. Revenues	–	–	–	–
Insurance Div. Revenues	–	–	–	–
Other Revenues	–	–	–	–
YoY Growth %	16.24 %	33.22 %	37.55 %	37.55 %

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Gross Profit
Cost Of Revenues	11,999.6 M	15,108.8 M	21,185.7 M	21,185.7 M
Gross Profit (Loss)	1,256.1 M	2,549.7 M	3,103.2 M	3,103.2 M
YoY Growth %	(31.52) %	102.99 %	21.71 %	21.71 %

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Operating Income & Expenses
SG&A Expenses	657.8 M	790.0 M	909.2 M	909.2 M
Other Operating Expenses	118.4 M	98.5 M	145.2 M	145.2 M
Operating Income	479.9 M	1,661.2 M	2,048.8 M	2,048.8 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Net Interest & Non-Operating
Interest Expense	(304.1 M)	(459.4 M)	(552.6 M)	(552.6 M)
Interest & Investment Income	227.0 M	394.4 M	972.4 M	972.4 M
Other Non-Operating Income (Exp.)	800.1 M	329.1 M	594.3 M	594.3 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
EBT & Net Income
EBT Excl. Unusual Items	1,130.3 M	1,759.1 M	2,711.4 M	2,711.4 M
Gain/Loss on Sale of Assets	12.4 M	311.5 M	42.2 M	42.2 M
EBT incl. Unusual Items	1,142.7 M	2,085.6 M	2,804.3 M	2,804.3 M
Income Tax Expense	198.6 M	193.6 M	262.6 M	262.6 M
Net Income	842.9 M	1,740.2 M	2,192.3 M	2,192.3 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Per Share & Supplemental
Net EPS – Basic	2.06	1.59	2.72	2.72
Normalized Basic EPS	0.91	1.42	2.02	2.02
Dividend Per Share	0.60	1.25	–	–
Payout Ratio	113.60 %	39.45 %	48.96 %	48.96 %
EBITDA	1,199.2 M	2,447.5 M	3,208.7 M	3,208.7 M
Effective Tax Rate	17.38 %	9.28 %	9.37 %	9.37 %

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Assets
Total Cash & Short-Term Investments	3,244.5 M	4,567.3 M	6,304.1 M	6,304.1 M
Cash & Equivalents	2,151.2 M	2,282.9 M	4,257.9 M	4,257.9 M
Short-Term Investments	1,093.3 M	2,284.4 M	2,046.2 M	2,046.2 M
Trading Asset Securities	–	–	–	–
Total Receivables	2,780.7 M	3,681.5 M	5,844.7 M	5,844.7 M
Accounts Receivable	2,027.7 M	2,421.9 M	4,485.7 M	4,485.7 M
Other Receivables	344.0 M	508.8 M	837.2 M	837.2 M
Inventory	6,030.8 M	6,927.4 M	11,460.7 M	11,460.7 M
Restricted Cash	–	–	–	–
Prepaid Expenses	38.1 M	51.6 M	65.2 M	65.2 M
Other Current Assets	125.7 M	132.6 M	307.5 M	307.5 M
Total Current Assets	12,219.9 M	15,360.5 M	23,982.2 M	23,982.2 M
Net PP&E	6,310.7 M	7,098.4 M	9,803.8 M	9,803.8 M
Gross PP&E	20,628.6 M	25,311.5 M	38,001.5 M	38,001.5 M
Accumulated Depreciation	(14,317.9 M)	(18,213.1 M)	(28,197.7 M)	(28,197.7 M)
Long-term Investments	644.6 M	649.1 M	1,061.5 M	1,061.5 M
Deferred Tax Assets (LT)	–	–	57.1 M	57.1 M
Total Assets	19,175.1 M	23,108.0 M	34,904.6 M	34,904.6 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Liabilities
Accounts Payable	741.8 M	1,585.1 M	2,900.9 M	2,900.9 M
Accrued Expenses	217.9 M	329.2 M	615.0 M	615.0 M
Current Portion of Long-Term Debt	275.5 M	240.2 M	348.7 M	348.7 M
Current Portion of Leases	111.1 M	114.6 M	159.7 M	159.7 M
Current Income Taxes Payable	171.0 M	178.7 M	310.9 M	310.9 M
Other Current Liabilities	667.5 M	927.8 M	1,455.0 M	1,455.0 M
Total Current Liabilities	7,069.7 M	8,142.8 M	13,268.9 M	13,268.9 M
Long-Term Debt	391.6 M	246.0 M	129.4 M	129.4 M
Long-Term Leases	302.9 M	398.9 M	464.8 M	464.8 M
Deferred Tax Liability (NC)	155.6 M	149.4 M	–	–
Total Liabilities	7,919.9 M	8,937.1 M	13,863.2 M	13,863.2 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Common Equity
Common Equity	10,091.1 M	12,809.4 M	18,907.3 M	18,907.3 M
Common Stock	665.1 M	665.1 M	665.1 M	665.1 M
Retained Earnings	2,595.5 M	3,786.8 M	4,801.8 M	4,801.8 M
Comprehensive Income & Other	6,830.4 M	8,357.5 M	13,440.5 M	13,440.5 M
Total Equity	11,255.3 M	14,170.9 M	21,041.3 M	21,041.3 M
Total Liabilities & Equity	19,175.1 M	23,108.0 M	34,904.6 M	34,904.6 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Supplemental Items
ECS Total Shares Outstanding on Filing Date	665.1 M	665.1 M	665.1 M	665.1 M
Book Value / Share	15.17	19.26	28.43	28.43
Tangible Book Value	10,091.1 M	12,809.4 M	18,907.3 M	18,907.3 M
Tangible Book Value Per Share	15.17	19.26	28.43	28.43
Total Debt	5,966.1 M	5,767.0 M	8,581.5 M	8,581.5 M
Net Debt	2,721.7 M	1,199.7 M	2,277.3 M	2,277.3 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Net Income & D&A
Depreciation & Amortization, Total	823.7 M	901.2 M	1,295.8 M	1,295.8 M
Depreciation & Amortization	823.7 M	901.2 M	1,295.8 M	1,295.8 M
Amortization of Goodwill & Intangibles	–	–	–	–
Net Income	842.9 M	1,740.2 M	2,192.3 M	2,192.3 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Cash from Operations
Net Income	842.9 M	1,740.2 M	2,192.3 M	2,192.3 M
Depreciation & Amortization, Total	823.7 M	901.2 M	1,295.8 M	1,295.8 M
(Gain) Loss From Sale Of Asset	–12.4 M	–311.5 M	–42.2 M	–42.2 M
(Gain) Loss on Sale of Investments	–	–	–	–
Amortization of Deferred Charges, Total	–	–	–	–
Asset Writedown & Restructuring Costs	–	–	–	–
Stock-Based Compensation	–	–	–	–
Other Operating Activities, Total	138.5 M	–13.2 M	–293.2 M	–293.2 M
Change in Accounts Receivable	653.0 M	–292.1 M	531.1 M	531.1 M
Change in Inventories	–227.1 M	163.4 M	–1,588.0 M	–1,588.0 M
Change in Accounts Payable	–1,035.3 M	878.0 M	–210.1 M	–210.1 M
Change in Unearned Revenues	–	–	–	–
Change in Income Taxes	–	–	–	–
Change in Other Net Operating Assets	–	–	–	–
Cash from Operations	1,232.3 M	3,134.3 M	1,910.1 M	1,910.1 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Cash from Investing
Capital Expenditure	–744.1 M	–452.6 M	–786.5 M	–786.5 M
Sale of PP&E	28.4 M	344.8 M	203.2 M	203.2 M
Cash Acquisitions	–	–	–	–
Divestitures	–	–	–	–
Investment in Market & Equity Securities	428.3 M	–820.9 M	1,349.0 M	1,349.0 M
Net (Increase) Decrease in Loans Orig’d/Sold	–	–	–	–
Other Investing Activities, Total	–	–	–	–
Cash from Investing	–287.4 M	–928.6 M	765.8 M	765.8 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Cash from Financing
Total Debt Issued	817.8 M	–	1,010.7 M	1,010.7 M
Short-Term Debt Issued	750.9 M	–	1,010.7 M	1,010.7 M
Long-Term Debt Issued	66.9 M	–	–	–
Total Debt Repaid	–159.2 M	–1,561.6 M	–309.7 M	–309.7 M
Short-Term Debt Repaid	–	–1,169.5 M	–	–
Long-Term Debt Repaid	–159.2 M	–392.1 M	–309.7 M	–309.7 M
Common & Preferred Dividends Paid	–957.5 M	–686.5 M	–1,073.4 M	–1,073.4 M
Other Financing Activities	20.3 M	–31.4 M	–903.7 M	–903.7 M
Cash from Financing	–278.5 M	–2,279.5 M	–1,276.0 M	–1,276.0 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Net Change in Cash
Foreign Exchange Rate Adjustments	160.1 M	151.9 M	559.5 M	559.5 M
Miscellaneous Cash Flow Adjustments	–	–	–	–
Net Change in Cash	826.5 M	78.1 M	1,959.4 M	1,959.4 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Supplemental Items
Free Cash Flow	488.2 M	2,681.7 M	1,123.7 M	1,123.7 M
Free Cash Flow per Share	0.73	4.03	1.69	1.69
Cash Interest Paid	304.1 M	459.4 M	552.6 M	552.6 M
Cash Income Tax Paid (Refund)	100.7 M	164.4 M	294.1 M	294.1 M
Change in Net Working Capital	2,331.9 M	595.2 M	4,623.9 M	4,623.9 M
Net Debt Issued / Repaid	658.6 M	–1,561.6 M	701.0 M	701.0 M

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Valuation Metrics
EV / Sales (LTM)	0.8 x	0.8 x	0.9 x	0.8 x
EV / Sales (NTM)	0.7 x	0.7 x	0.7 x	0.7 x
Price / Sales (LTM)	0.6 x	0.7 x	0.7 x	0.6 x
Price / Sales (NTM)	0.5 x	0.6 x	0.6 x	0.6 x
EV / EBITDA (LTM)	8.6 x	5.8 x	6.2 x	6.0 x
EV / EBITDA (NTM)	4.8 x	4.3 x	4.1 x	4.3 x
EV / EBIT (LTM)	23.3 x	9.0 x	10.1 x	9.8 x
EV / EBIT (NTM)	6.9 x	5.5 x	5.5 x	5.6 x
Price / Earnings (LTM)	5.3 x	11.7 x	9.0 x	8.6 x
Price / Earnings (NTM)	7.1 x	–	–	5.0 x
Price / Book (LTM)	0.7 x	1.0 x	0.9 x	0.8 x
Price / Tangible Book Value (LTM)	0.7 x	1.0 x	0.9 x	0.8 x

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Capital Structure
Market Capitalization	7,296.2 M	12,317.8 M	16,268.5 M	15,610.1 M
Cash & Short Term Investments	3,244.5 M	4,567.3 M	6,304.1 M	6,304.1 M
Total Debt	5,966.1 M	5,767.0 M	8,581.5 M	8,581.5 M
Preferred Equity	–	–	–	–
Minority Interest	1,164.2 M	1,361.5 M	2,134.0 M	2,134.0 M
Enterprise Value	11,193.6 M	14,879.0 M	20,679.8 M	20,021.4 M
Enterprise Value Multiples
EV / Sales	0.8 x	0.8 x	0.9 x	0.8 x
EV / EBITDA	8.6 x	5.8 x	6.2 x	6.0 x
EV / EBIT	23.3 x	9.0 x	10.1 x	9.8 x
Capitalization
Total Capital	17,221.4 M	19,937.9 M	29,622.8 M	29,622.8 M
Total Common Equity	10,091.1 M	12,809.4 M	18,907.3 M	18,907.3 M
Total Preferred Equity	–	–	–	–
Total Debt	5,966.1 M	5,767.0 M	8,581.5 M	8,581.5 M
Minority Interest	1,164.2 M	1,361.5 M	2,134.0 M	2,134.0 M
Key Ratios
Return on Total Capital	2.04 %	5.59 %	5.17 %	5.17 %
Total Debt / Total Capital	34.6 %	28.9 %	29.0 %	29.0 %
Total Debt / Equity	53.0 %	40.7 %	40.8 %	40.8 %
Total Debt / EBITDA	4.6 x	2.3 x	2.6 x	2.6 x
Long-Term Debt / Total Capital	4.0 %	3.2 %	2.0 %	2.0 %

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Returns
Return on Assets	1.80 %	4.91 %	4.41 %	4.41 %
Return On Equity	9.68 %	14.88 %	14.44 %	14.44 %
Return on Total Capital	2.04 %	5.59 %	5.17 %	5.17 %
Return on Common Equity	15.78 %	9.23 %	11.42 %	11.42 %
Margins
EBITDA Margin	9.05 %	13.86 %	13.21 %	13.21 %
EBITA Margin	3.62 %	9.41 %	8.44 %	8.44 %
EBIT Margin	3.62 %	9.41 %	8.44 %	8.44 %
EBT Margin	–	–	–	–
EBT Excl. Non-Recurring Items Margin	–	–	–	–
Gross Profit Margin	9.48 %	14.44 %	12.78 %	12.78 %
SG&A Margin	4.59 %	4.09 %	3.64 %	3.64 %
Net Income Margin	6.36 %	9.85 %	9.03 %	9.03 %
Net Available For Common Margin	10.36 %	5.99 %	7.45 %	7.45 %
Normalized Net Income Margin	4.57 %	5.37 %	5.54 %	5.54 %
Asset Turnovers
Receivables Turnover (Average Receivables)	7.2 x	7.9 x	7.0 x	7.0 x
Fixed Assets Turnover (Average Fixed Assets)	2.4 x	2.6 x	2.9 x	2.9 x
Inventory Turnover (Average Inventory)	2.3 x	2.3 x	2.3 x	2.3 x
Asset Turnover	0.8 x	0.8 x	0.8 x	0.8 x
Days Outstanding Inventory (Avg)	155.8	156.5	158.8	158.8
Short-term Liquidity
Current Ratio	1.7 x	1.9 x	1.8 x	1.8 x
Quick Ratio	0.8 x	0.9 x	0.9 x	0.9 x
Days Sales Outstanding (Average Receivables)	50.7	46.0	52.0	52.0
Days Payable Outstanding (Avg)	22.1	26.5	31.9	31.9
Cash Conversion Cycle (Average Days)	184.5	176.0	179.0	179.0
Operating Cash Flow to Current Liabilities	0.2 %	0.4 %	0.1 %	0.1 %

Metric	FY 2022	FY 2023	FY 2024	Current/LTM
Return on Invested Capital (ROIC) = NOPAT / Average Invested Capital
Net Operating Profit After Tax (NOPAT)	281.4 M	1,467.6 M	1,786.2 M	1,786.2 M
Invested Capital, Average	–	18,579.7 M	24,780.4 M	29,622.8 M
Return on Invested Capital (ROIC)	–	7.90 %	7.21 %	6.03 %
NOPAT Components
EBIT	479.9 M	1,661.2 M	2,048.8 M	2,048.8 M
Income Tax Expense	198.6 M	193.6 M	262.6 M	262.6 M
Net Operating Profit After Tax (reconciled)	281.4 M	1,467.6 M	1,786.2 M	1,786.2 M
Average Invested Capital Components
Long-Term Debt	391.6 M	246.0 M	129.4 M	129.4 M
Short-Term Debt	5,160.4 M	5,007.5 M	7,827.4 M	7,827.4 M
Total Equity	11,255.3 M	14,170.9 M	21,041.3 M	21,041.3 M
Current Portion of Leases	111.1 M	114.6 M	159.7 M	159.7 M
Long-Term Leases	302.9 M	398.9 M	464.8 M	464.8 M
Invested Capital	17,221.4 M	19,937.9 M	29,622.8 M	29,622.8 M
Debt Analysis & Coverage
Total Debt / Equity	53.0 %	40.7 %	40.8 %	40.8 %
Total Debt / Capital	34.6 %	28.9 %	29.0 %	29.0 %
Long-Term Debt / Equity	6.2 %	4.6 %	2.8 %	2.8 %
Long-Term Debt / Capital	4.0 %	3.2 %	2.0 %	2.0 %
Total Liabilities / Total Assets	41.3 %	38.7 %	39.7 %	39.7 %
Interest & Debt Coverage
EBIT / Interest Expense	1.6 x	3.6 x	3.7 x	3.7 x
EBITDA / Interest Expense	4.3 x	5.6 x	6.1 x	6.1 x
(EBITDA–Capex) / Interest Expense	1.8 x	4.6 x	4.6 x	4.6 x
Debt Coverage & Risk
Total Debt / EBITDA	4.6 x	2.3 x	2.6 x	2.6 x
Net Debt / EBITDA	2.1 x	0.5 x	0.7 x	0.7 x
Total Debt / (EBITDA–Capex)	10.7 x	2.7 x	3.4 x	3.4 x
Net Debt / (EBITDA–Capex)	4.9 x	0.6 x	0.9 x	0.9 x
Altman Z-Score	1.67	2.27	2.11	2.11

Sources

Bloomberg Terminal
Reuters
Investopedia
Mckvay
MarketWatch
Trading Economics
Acuity Knowledge Partners
Koyfin
Cboe Global Markets
TradingView
Central Bank Website

Disclaimer

The information, content, and recommendations provided on this platform are intended solely for educational and informational purposes. Under no circumstances should they be construed as personalized investment advice, nor do they constitute a solicitation to buy, sell, or hold any financial instruments.

1. No Guarantee of Profit:

Trading in financial markets involves substantial risk, and there is no guarantee of profit or protection against losses. Past performance is not indicative of future results, and the potential for loss is real.

2. Independent Decision-Making:

All investment decisions are your sole responsibility. You are strongly encouraged to perform your own due diligence, research, and seek advice from a qualified financial professional before making any investment or trading decisions.

3. Market Risks:

Financial markets are inherently volatile and subject to numerous factors, including economic conditions, geopolitical events, and unforeseen circumstances. These factors may cause rapid and significant changes in market conditions that may impact your investments.

4. No Liability:

Mckvay Consulting and any associated parties shall not be held liable for any direct, indirect, or consequential damages resulting from reliance on the information provided. Any use of this platform is at your own risk.

5. Educational Purpose Only:

The content provided is designed to educate and inform about general market trends, analysis, and strategies. It is not intended to offer specific investment recommendations or actionable directives.

6. Accuracy of Information:

While we strive to provide accurate and up-to-date information, we cannot guarantee the completeness, accuracy, or reliability of the data or recommendations. Numbers, statistics, and projections may contain errors or be outdated. Always verify data from multiple sources before making decisions.

7. Risk of Loss:

You acknowledge that trading in financial instruments carries a high level of risk and may result in the loss of your entire investment. You should only invest money you can afford to lose.

8. Past Performance:

Historical data, performance charts, and any backtesting results provided are not predictive of future performance. Past results should not be used as an indication of future success.

9. No Endorsement:

The information provided does not imply endorsement or recommendation of any particular product, service, or financial instrument. Any action taken based on the provided content is solely at the discretion of the user.

10. Changes to Information:

The content, data, and recommendations on this platform may change without notice. We are not responsible for keeping the information current or for any losses arising from the use of outdated content.

11. External Links:

Any external websites or third-party links provided are not under the control of Mckvay Consulting. We are not responsible for the content, availability, or accuracy of such external sites.

12. No Warranty:

The platform, its content, and any services offered are provided “as is,” without any warranties, express or implied, including but not limited to the accuracy, completeness, or fitness for a particular purpose.

13. Consultation with Professionals:

It is essential to consult with qualified professionals, including but not limited to financial advisors, tax consultants, or attorneys, before making any investment decisions, particularly if you are unfamiliar with the risks of financial markets.

14. Simulated or Hypothetical Performance:

Simulated performance results or hypothetical returns may not reflect actual trading results and are often designed with the benefit of hindsight. These results may not account for the potential impact of financial market factors, such as transaction costs or liquidity constraints.

15. No Control Over Market Events:

Mckvay Consulting cannot control or predict unforeseen market events, and no one can predict market movements with certainty. Therefore, the possibility of significant losses due to unexpected market developments exists.

By using this platform, you acknowledge that you have read, understood, and agreed to the terms outlined in this disclaimer. You accept the inherent risks associated with trading and investing, and you agree to trade responsibly and within your financial capacity.

This disclaimer includes the professional tone and additional points to cover a wider range of legal and risk-related considerations, including the possibility of errors in data and the need for independent verification.