$Evolution AB(EVVTY)$ This looks cheap. But it’s cheap for a reason — and the inflection is still going the wrong way. Evolution was once the dominant B2B live-casino growth machine. Today, growth is being dragged down by **cyber attacks, higher global taxes, and self-inflicted compliance leakage**. 📉 Inflection status: NEGATIVE Revenue, margins, and cash flow are all deteriorating. Atomic evidence: Net revenue **-2.4% YoY (Q3’25)** vs +14.7% a year ago EBITDA margin **~70% → 66%** Asia growth stalled due to **video stream hijacking** Pillar II tax lifted effective tax rate to **~15%** European ring-fencing caused immediate revenue leakage This is not a balance-sheet problem. Evolution is **debt-free**, generating cash, and returning capital. 💰 V

$ThaiBev(Y92.SI)$ Breakdown of why this "defensive" giant is showing cracks. The Big Picture: Management keeps using the word "resilient," but the actual bank account says otherwise. The company is currently shrinking, not growing. Profits are down double-digits (-11.7%), and they are selling less alcohol than before. The "Beer" business is doing okay, but it’s not enough to carry the rest of the company. The 3 Red Flags You Need to Know🚩: 1. The "Cash Cow" is Getting Thinner 🐄 ThaiBev relies heavily on its Spirits business (Ruang Khao, Hong Thong, etc.) to make money. In 2025, they sold 3.2% less than the year before. When your most reliable money-maker starts shrinking, it’s the biggest warning sign there is. 2. The Food Business is Losing Mon

$YZJ Fin Hldg(YF8.SI)$ The Big Picture: On paper, YZJ looks like it's recovering. Profits are up, and they are pivoting away from risky China debt. But in reality, the "quality" of the business is getting weaker, and they are about to give away their best asset. The 3 Red Flags You Need to Know: 1. The "Paper Profit" Trick 📄 The recent profit surge wasn't because they sold more or lent more money. It was driven by "accounting reversals" (taking back money they previously set aside for bad debts) and government grants. If you strip those one-time gains out, the core lending business is actually shrinking. 2. The Cash Flow Problem 📉 While net profit looks positive, the actual cash generated from operations turned negative (-$10.6M) in the first ha

$Constellation(STZ)$ The Big Picture: Constellation Brands is hitting a wall. For years, the story was about explosive growth (especially Modelo). Now, that engine is stalling, and the company is switching to "defense mode" to protect profits. They recently wrote off $2.7 billion in bad investments (mostly in their Wine & Spirits business), which basically means they admitted those past strategies failed completely. The 4 Red Flags You Need to Know: 1. The "Cash Cow" is Slowing Down 🐄 The Beer business (Modelo/Corona) is their main moneymaker. In early 2025, sales volume was growing at +6.4%. By late 2025, it flipped to shrinking by -2.7%. When your best product starts selling less, it's a major warning sign. 2. The "Kitchen Sink" Write-Off 📉 T