Alpine Auto Brokers Inc.

ALTBdata completeness 50%5 fiscal years on file

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

The thesis, from the filings

Alpine Auto Brokers Inc. earns about -65% on equity, but has diluted owners by 44450% 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

Figure	FY 2014	FY 2015	FY 2020	FY 2021	FY 2022
Revenue	$359,524¹	$171,627¹	$0²	—	—
Net income	−$42,931³	−$35,999³	−$12,835⁴	−$345,356⁵	−$29,740⁵
Operating cash flow	$25,821⁶	−$24,005⁶	−$12,835⁷	−$45,356⁸	−$29,740⁸
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	—	—	—
Cash & equivalents	$55,981⁹	$31,976⁹	$0¹⁰	—	—
Diluted shares	1.0M	1.0M	44.5M	44.5M	445.5M

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

Net assets behind them

−$0

your share of equity

Profit it earned you last year

−$0

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 last year.

iii. Is this a good business?

Moat signal · return on equity

-65% avg · 5y

FY14 -52%FY15 -78%FY20 —FY21 —FY22 —

It earned an average -65% 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

+44450% shares · 5y

Share count is up 44450% 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

10-K · period ending 2014-12-31 · accession 0001077048-16-000089 (Revenues)
10-K · period ending 2020-12-31 · accession 0001829126-21-010476 (Revenues)
10-K · period ending 2014-12-31 · accession 0001077048-16-000089 (NetIncomeLoss)
10-K/A · period ending 2020-12-31 · accession 0001829126-22-001320 (NetIncomeLoss)
10-K · period ending 2021-12-31 · accession 0001829126-23-001461 (NetIncomeLoss)
10-K · period ending 2014-12-31 · accession 0001077048-16-000089 (NetCashProvidedByUsedInOperatingActivities)
10-K/A · period ending 2020-12-31 · accession 0001829126-22-001320 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2021-12-31 · accession 0001829126-23-001461 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2014-12-31 · accession 0001077048-16-000089 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2020-12-31 · accession 0001829126-21-010476 (CashAndCashEquivalentsAtCarryingValue)