MeritValue

Authentic Holdings, Inc.

AHROdata completeness 75%15 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'

i. The business — what you’d actually own
FigureFY 2020FY 2021FY 2022FY 2023FY 2024
Revenue$3,9941$5,8542$03$04$398,6004
Net income−$1.14M5−$1.4M6−$1.16M7−$1.66M8−$1.32M8
Operating cash flow−$12,1029−$174,30910−$998,70511−$227,22812−$126,71912
Capital expenditure—$013$4,02214$014—
Free cash flow (derived)—−$174,30910−$1M11−$227,22812—
Total debt—————
Cash & equivalents$8,54815$016$017$017$5,89018
Diluted shares561.9M1.30B1.56B1.85B2.20B

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
your share of equity
Profit it earned you last year
−$0.01
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0 of net worth that earned you −$0.01 last year.

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

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

seeing a moat in the numbers →
Management signal · capital allocation
+291% shares · 5y

Share count is up 291% 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 v0.5.0
DCF · Growth Exit 10Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
DCF · Growth Exit 5Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
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 2020-12-31 · accession 0001477932-22-002432 (Revenues)
  2. 10-K · period ending 2021-12-31 · accession 0001477932-23-002782 (Revenues)
  3. 10-K · period ending 2022-12-31 · accession 0001477932-24-003655 (Revenues)
  4. 10-K · period ending 2023-12-31 · accession 0001477932-25-002774 (Revenues)
  5. 10-K · period ending 2020-12-31 · accession 0001477932-22-002432 (NetIncomeLoss)
  6. 10-K · period ending 2021-12-31 · accession 0001477932-23-002782 (NetIncomeLoss)
  7. 10-K · period ending 2022-12-31 · accession 0001477932-24-003655 (NetIncomeLoss)
  8. 10-K · period ending 2023-12-31 · accession 0001477932-25-002774 (NetIncomeLoss)
  9. 10-K · period ending 2020-12-31 · accession 0001477932-22-002432 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0001477932-23-002782 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2022-12-31 · accession 0001477932-24-003655 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2023-12-31 · accession 0001477932-25-002774 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001477932-23-002782 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001477932-24-003655 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2020-12-31 · accession 0001477932-22-002432 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2021-12-31 · accession 0001477932-23-002782 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2022-12-31 · accession 0001477932-24-003655 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2024-12-31 · accession 0001477932-25-002774 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)