Able View Global Inc.
ABLVdata completeness 100%5 fiscal years on fileData notes: no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'interestExpense'
Able View Global Inc. earns about 274% on invested capital, far above its ~9% cost of capital, but has diluted owners by 31% over 5 years — a real edge showing up in the numbers. The estimate methods put fair value between $0.37 and $1.64 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $117.3M1 | $145.3M2 | $129.3M3 | $126.8M3 | $105.2M3 |
| Net income | $8.7M4 | $7.9M5 | $9.75M6 | −$7.42M6 | $820,0186 |
| Operating cash flow | −$1.9M7 | −$12.8M8 | $23.6M9 | −$2.24M9 | $1.2M9 |
| Capital expenditure | $174,90010 | $195,64011 | $66,98212 | $65,85712 | $27,17112 |
| Free cash flow (derived) | −$2.07M7 | −$13M8 | $23.5M9 | −$2.31M9 | $1.17M9 |
| Total debt | — | $15.7M13 | $2.88M14 | $10.2M15 | $11.4M15 |
| Cash & equivalents | $6.72M16 | $5.77M17 | $13.3M18 | $15.2M19 | $9.01M19 |
| Diluted shares | 37.7M | 37.7M | 39.5M | 42.6M | 49.4M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $1.57 of net worth that earned you $0.17 and generated $0.24 of cash last year, against $2.32 of debt.
It earned about 274% on invested capital, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.
seeing a moat in the numbers →Share count is up 31% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has fallen 27% — deleveraging.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $0.37 and $1.64 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$1.17M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$1.17M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$7.9M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $0.28 |
| Base | 5.0% | $0.37 |
| Bull | 10.0% | $0.46 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 5.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 20-F · period ending 2021-12-31 · accession 0001213900-24-037882 (Revenues)
- 20-F · period ending 2022-12-31 · accession 0001213900-25-034677 (Revenues)
- 20-F · period ending 2023-12-31 · accession 0001213900-26-048085 (Revenues)
- 20-F · period ending 2021-12-31 · accession 0001213900-24-037882 (NetIncomeLoss)
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- 20-F · period ending 2021-12-31 · accession 0001213900-24-037882 (PaymentsToAcquirePropertyPlantAndEquipment)
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- 20-F · period ending 2023-12-31 · accession 0001213900-25-034677 (ShortTermBorrowings)
- 20-F · period ending 2024-12-31 · accession 0001213900-26-048085 (LongTermDebtNoncurrent)
- 20-F · period ending 2021-12-31 · accession 0001213900-25-034677 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 20-F · period ending 2022-12-31 · accession 0001213900-24-037882 (CashAndCashEquivalentsAtCarryingValue)
- 20-F · period ending 2023-12-31 · accession 0001213900-25-034677 (CashAndCashEquivalentsAtCarryingValue)
- 20-F · period ending 2024-12-31 · accession 0001213900-26-048085 (CashAndCashEquivalentsAtCarryingValue)