MeritValue

Abpro Holdings, Inc.

ABPOdata completeness 63%4 fiscal years on file

Data notes: no data for concept 'totalDebt'; no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'interestExpense'

i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025
Revenue—$122,0001$183,0001—
Net income$886,9182$2.82M2−$7.23M3−$2.89M3
Operating cash flow−$1.18M4−$7.4M5−$9.03M6−$6.01M6
Capital expenditure—$48,0007——
Free cash flow (derived)—−$7.45M5——
Total debt————
Cash & equivalents$392,4468$723,0009$2.85M9$82,00010
Diluted shares—19.1M780,3322.2M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
−$39.55
your share of equity
Profit it earned you last year
−$12.95
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$39.55 of net worth that earned you −$12.95 last year.

iii. Is this a good business?
Moat signal · return on equity
— avg · 4y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
−88% shares · 4y

Share count is down 88% over 4 years — management has been buying back stock, quietly handing owners a bigger slice.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.5.0
DCF · Growth Exit 10Y
not applicable
only 1 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 1 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2023-12-31 · accession 0001213900-25-032133 (Revenues)
  2. 10-K/A · period ending 2022-12-31 · accession 0001193125-24-082201 (NetIncomeLoss)
  3. 10-K · period ending 2024-12-31 · accession 0001213900-26-044166 (ProfitLoss)
  4. 10-K/A · period ending 2022-12-31 · accession 0001193125-24-082201 (NetCashProvidedByUsedInOperatingActivities)
  5. 10-K · period ending 2023-12-31 · accession 0001213900-25-032133 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K · period ending 2024-12-31 · accession 0001213900-26-044166 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2023-12-31 · accession 0001213900-25-032133 (PaymentsToAcquirePropertyPlantAndEquipment)
  8. 10-K/A · period ending 2022-12-31 · accession 0001193125-24-082201 (CashAndCashEquivalentsAtCarryingValue)
  9. 10-K · period ending 2023-12-31 · accession 0001213900-25-032133 (CashAndCashEquivalentsAtCarryingValue)
  10. 10-K · period ending 2025-12-31 · accession 0001213900-26-044166 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)