Blackbird plc risk profile
93 Acute at or past the historical limit
Measured 1 September 2026 from FBD's filed statements. Recomputed nightly.
93 (Acute), driven by Cash conversion at 100, over 4 weighted categories on the SOFTWARE profile.
What is measured
| Mechanism | Reading | Band | Direction | Driver |
|---|---|---|---|---|
| Market expectation | 94 | Acute | Stable | Drawdown from the 52-week high — 83.6% |
| Operating pressure | 75 | Stretched | Worsening | Costs outgrowing revenue — +9.9 percentage points |
| Cash conversion | 100 | Acute | Stable | Capital spending against operating cash — -0.98x |
| Leverage and coverage | Reads total_debt, cash_and_cash_equivalents, ebitda, interest_expense, total_current_assets, total_current_liabilities and a disclosed CET1 ratio, for a bank or insurer. No reading is stored for this company. | |||
| Competitive position | 95 | Acute | Stable | Operating-margin gap against peers — -166.8 percentage points |
| Concentration | Reads identified supplier spend, customers above the 10% disclosure threshold and revenue by region. No reading is stored for this company. | |||
These are descriptive readings of disclosed mechanisms, not investment advice, and not a prediction. A band says where a measured input sits, never what to do about it or what happens next.