MeritValue

ACRO BIOMEDICAL CO., LTD.

ACBMdata completeness 75%12 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'totalDebt'

The thesis, from the filings

ACRO BIOMEDICAL CO., LTD. earns about -2230% on equity, but has diluted owners by 12% over 5 years — worth asking whether the growth reaches owners. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$1.2M1$658,5002$03$04$04
Net income−$7.7M5−$15.9M6−$8.81M7−$42,2978−$101,1468
Operating cash flow$299,3359−$147,48110−$15,44611−$36,69212−$196,30212
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$95,24813$5,85214$37615$47615$4,09815
Diluted shares53.8M60.0M60.0M60.0M60.0M

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
−$0.06
your share of equity
Profit it earned you last year
−$0.02
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.06 of net worth that earned you −$0.02 last year.

iii. Is this a good business?
Moat signal · return on equity
-2230% avg · 5y
FY21 -1196%FY22 -3263%FY23 —FY24 —FY25 —

It earned an average -2230% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+12% shares · 5y

Share count is up 12% over 5 years — owners have been diluted. Worth asking what they got for it.

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 v0.1.0
DCF · Growth Exit 10Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 0 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 2021-12-31 · accession 0001640334-22-000809 (RevenueFromContractWithCustomerIncludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001640334-25-001245 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0001640334-25-001300 (Revenues)
  4. 10-K · period ending 2024-12-31 · accession 0001640334-26-000241 (Revenues)
  5. 10-K · period ending 2021-12-31 · accession 0001640334-23-001347 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001640334-25-001245 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001640334-25-001300 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001640334-26-000241 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001640334-23-001347 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001640334-25-001245 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001640334-25-001300 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001640334-26-000241 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001640334-25-001245 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  14. 10-K · period ending 2022-12-31 · accession 0001640334-25-001300 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  15. 10-K · period ending 2023-12-31 · accession 0001640334-26-000241 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)