High Gross MarginReported gross margin remained high (~86% in 2025), indicating core projects retain substantial margin headroom. That structural margin on sales supports recovery potential if SG&A and financing costs are reined in, providing durable operating leverage over months.
Large Tangible Asset BaseThe company holds a sizable asset base (~29.3B in 2025), providing tangible collateral and optionality for asset sales, securitization or restructuring. These assets are a durable source of liquidity or creditor negotiation leverage over a 2–6 month horizon.
Prior Ability To Generate CashManagement produced strong positive operating and free cash flow in 2023–2024, demonstrating the business can generate cash cyclically. That track record implies underlying project economics that could resume and support medium‑term liquidity if sales and collections normalize.