Revenue decreases from less demand in volume (more savings, stronger ccy, less investment in the economy as little growth, less govt contribution, higher taxes, better alternative product, product not relevant anymore, increasing interest rates) or competition on prices (more intl competitors)
Margins decrease because more competition on prices (market structure changes from regulation, changing technology, other sectors more badly effected so move into this sector) or increasing commodity costs (inflation from money printing, more demand as other countries are growing, supply issues because little investment) or less demand (more savings, stronger ccy, less investment in the economy as little growth, less govt contribution, better alternative product, not relevant anymore, increasing interest rates)
Multiple decreases as expectations of more stimulus make investors fear the value of cash will decrease, hence future FCF will be worth less inflation
Interest rates can increase, reducing free cash flow
Taxes increase hence reduce free cash flow
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