MeritValue

Angi Inc.

ANGIdata completeness 100%11 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$1.62B1$1.76B2$1.36B3$1.19B3$1.03B3
Net income−$70.5M4−$128M5−$40.3M6$36.8M6$43.8M6
Operating cash flow$6.21M7$27.1M7$94.2M8$155.9M8$105.1M8
Capital expenditure$69.9M9$115.5M10$47.8M11$50.5M11$59.6M11
Free cash flow (derived)−$63.7M7−$88.4M7$46.4M8$105.4M8$45.5M8
Total debt$494.6M12$495.3M13$496M14$496.8M15$497.7M15
Cash & equivalents$428.1M16$321.2M17$364M17$416.4M17$303.7M17
Diluted shares502.8M503.0M50.6M50.7M46.5M

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
shares
You’d own
0.000022%
of the whole company
Your share of last year’s profit
$9.44
Your share of its debt
$107.13
Your share of free cash flow
$9.79
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$15.55
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth5.0%
  • fcfBase$46.4M
DCF · Growth Exit 5Y
$13.99
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth5.0%
  • fcfBase$46.4M
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
$20.55
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years5.0%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $13.99

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.

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001705110-24-000012 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001705110-25-000018 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001705110-26-000011 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2021-12-31 · accession 0001705110-24-000012 (ProfitLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001705110-25-000018 (ProfitLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001705110-26-000011 (ProfitLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001705110-23-000022 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-12-31 · accession 0001705110-26-000011 (NetCashProvidedByUsedInOperatingActivitiesContinuingOperations)
  9. 10-K · period ending 2021-12-31 · accession 0001705110-24-000012 (PaymentsToAcquirePropertyPlantAndEquipment)
  10. 10-K · period ending 2022-12-31 · accession 0001705110-25-000018 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2023-12-31 · accession 0001705110-26-000011 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2021-12-31 · accession 0001705110-23-000022 (LongTermDebtNoncurrent)
  13. 10-K · period ending 2022-12-31 · accession 0001705110-24-000012 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2023-12-31 · accession 0001705110-25-000018 (LongTermDebtNoncurrent)
  15. 10-K · period ending 2024-12-31 · accession 0001705110-26-000011 (LongTermDebtNoncurrent)
  16. 10-K · period ending 2021-12-31 · accession 0001705110-25-000018 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2022-12-31 · accession 0001705110-26-000011 (CashAndCashEquivalentsAtCarryingValue)